Amortizing Class Certificates definition

Amortizing Class Certificates. A Class of securities issued pursuant to this Agreement representing an undivided interest in the distributions described in Section 9 hereto payable to such Class.
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Examples of Amortizing Class Certificates in a sentence

  • Securities of the Trust are Certificates, each of which represents a fractional undivided beneficial interest in the Trust; these securities were issued pursuant to the Trust Agreement and consisted of two classes: the ZTF Class Certificates and the Amortizing Class Certificates.

  • The undersigned irrevocably undertakes to deliver to the Trustee on the Exchange Date specified below the specified amount of Amortizing Class Certificates and Residual Class Certificates held of record by the undersigned in exchange for Term Assets in the Specified Percentage (subject to rounding as described above).

  • Each Fixed Payment shall be allocated first to interest accrued during the related Interest Accrual Period at a rate equal to the Amortizing Class Yield on the then outstanding Aggregate Certificate Principal Balance of the Amortizing Class Certificates, with the balance of such Fixed Payment allocated to the repayment of principal in accordance with the amortization schedule attached hereto as Schedule 2 (the "Amortization Schedule").

  • The Certificates shall be issued in two Classes consisting of (a) the Amortizing Class Certificates (the "Amortizing Class Certificates") and (b) the Residual Class Certificates (the "Residual Class Certificates"), subject to Section 5.16 of the Base Trust Agreement.

  • Each Fixed Payment shall be allocated first to interest accrued during the related Interest Accrual Period at a rate equal to the Amortizing Class Yield on the then outstanding Aggregate Certificate Principal Balance of the Amortizing Class Certificates, with the balance of such Fixed Payment allocated to the repayment of principal in accordance with the amortization schedule attached to the Series Supplement as Schedule 2 (the "Amortization Schedule").

  • Upon tender of such Certificates, duly endorsed by the Holder to the Trustee, the Trustee shall transfer to the Holder (or its designee specified in the Notice of Exchange) a principal amount of Term Assets comprising the same percentage of the Term Assets then held in the Trust as the percentage of Amortizing Class Certificates and Residual Class Certificates tendered by such Holder on such Scheduled Distribution Date, rounded down to the nearest authorized denomination of Term Assets.

  • In the event of a Partial Optional Redemption or an exchange of Certificates for Term Assets pursuant to Section 8, the Fixed Payment to the holders of the Amortizing Class Certificates will be reduced, effective on the next Scheduled Distribution Date, pro rata with the reduction of the Term Assets, and the Trustee shall thereafter adjust the Amortization Schedule on the basis of the new Aggregate Certificate Principal Balances following the Optional Redemption Date.

  • In the event of a Partial Optional Redemption or an exchange of Certificates for Term Assets pursuant to Section 8 of the Series Supplement referred to below, the Fixed Payment to the holders of the Amortizing Class Certificates and the Certificate Principal Balance of this Certificate will be reduced in accordance with the Trust Agreement.

  • In the event of an In-Kind Distribution pursuant to Section 3.6 of the Base Trust Agreement, the Trustee shall make such In-Kind Distribution to the Holders of the Amortizing Class Certificates and the Holders of the Residual Class Certificates, respectively, on the basis of the Distribution Ratio to the date on which the Payment Default or Acceleration of the Term Assets occurred.

  • In the event that any Interest Collections are received by the Trustee after a Scheduled Distribution Date and prior to the final distribution with respect to the Amortizing Class Certificate, the Trustee will distribute such Interest Collections to the holders of the Amortizing Class Certificates as soon as practicable after receipt.

Related to Amortizing Class Certificates

  • Initial Class Certificate Balance As to each Class of Certificates, the Class Certificate Balance set forth in the Preliminary Statement.

  • Class Certificate Balance With respect to any Class and as to any date of determination, the aggregate of the Certificate Balances of all Certificates of such Class as of such date.

  • Class Certificate Principal Balance As to any Class of Certificates, other than any Class of Notional Certificates, and as of any date of determination, the aggregate of the Certificate Principal Balances of all Certificates of such Class. The Class Certificate Principal Balance of each such Class of Certificates as of the Closing Date is specified in Section 5.01(b).

  • Original Class Certificate Principal Balance With respect to the Class A Certificates, the Mezzanine Certificates, the Class C Certificates and the Class P Certificates, the corresponding amounts set forth opposite such Class above in the Preliminary Statement.

  • Class ___ Certificate Any one of the Certificates executed and authenticated by the Trustee or the Authenticating Agent on behalf of the Depositor in substantially the form set forth in Exhibit ____ hereto.

  • Group II Class A Certificates The Class A-2a Certificates, the Class A-2b Certificates, the Class A-2c Certificates and the Class A-2d Certificates, collectively.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • Class B-1 Certificates All Certificates bearing the class designation of "Class B-1".

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Offered Subordinate Certificates As specified in the Preliminary Statement.

  • Original Subordinated Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • Initial Class Principal Balance As set forth in the Preliminary Statement.

  • Class B-4 Certificates The Certificates designated as “Class B-4” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Controlling Class Certificateholder Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as determined by the Certificate Administrator from time to time.

  • Class B-2 Certificates All Certificates bearing the class designation of "Class B-2".

  • Original Class B-3 Principal Balance The Class B-3 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Required Subordinated Percentage of Class B Notes means, for the Class A(2022-1) Notes, 6.96202532%, subject to adjustment in accordance with Section 2.02.

  • Original Class B Principal Balance The sum of the Original Class B-1 Principal Balance, Original Class B-2 Principal Balance, Original Class B-3 Principal Balance, Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and Original Class B-6 Principal Balance, as set forth in Section 11.14.

  • REMIC Certificate Maturity Date The "latest possible maturity date" of the Regular Certificates as that term is defined in Section 2.07.

  • Class CE Certificate Any one of the Class CE Certificates executed, authenticated and delivered by the Trust Administrator, substantially in the form annexed hereto as Exhibit A-16 and evidencing (i) a Regular Interest in REMIC IV, (ii) the obligation to pay Net WAC Rate Carryover Amounts and Swap Termination Payments and (iii) the right to receive the Class IO Distribution Amount.

  • Class B-5 Certificates The Certificates designated as “Class B-5” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class B-3 Principal Balance As to the first Determination Date, the Original Class B-3 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-3 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-3 Certificates on prior Distribution Dates (A) pursuant to Paragraph thirteenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-3 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance, the Class B-1 Principal Balance and the Class B-2 Principal Balance as of such Determination Date.

  • Original Class B-5 Principal Balance The Class B-5 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.

  • Original Subordinate Principal Balance The aggregate of the Class Certificate Balances of the Subordinated Certificates as of the Closing Date.

  • Class B-5 Principal Balance As to the first Determination Date, the Original Class B-5 Principal Balance. As of any subsequent Determination Date, the Original Class B-5 Principal Balance less the sum of all amounts previously distributed in respect of the Class B-5 Certificates on prior Distribution Dates (A) pursuant to Paragraph fifteenth of Section 4.01(a)(ii) and (B) as a result of a Principal Adjustment; provided, however, if the Class B-5 Certificates are the most subordinate Certificates outstanding, the Class B-5 Principal Balance will equal the difference, if any, between the Aggregate Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Aggregate Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance and the Class B-4 Principal Balance as of such Determination Date.

  • Original Class B-2 Principal Balance The Class B-2 Principal Balance as of the Cut-Off Date, as set forth in Section 11.15.