Class A-V Certificate definition
Examples of Class A-V Certificate in a sentence
The Percentage Interest of each Class AV Certificate as of any date of determination will be equal to the percentage obtained by dividing the original Certificate Principal Balance of such Class AV Certificate on the Startup Day by the aggregate Certificate Principal Balance of the Class AV Certificates on the Startup Day.
Each Owner of record of a Class AV Certificate will be entitled to receive such Owner’s Percentage Interest in the amounts due on such Distribution Date to the Owners of the Class AV Certificates.
Each Owner of record of a Class AV Certificate will be entitled to receive such Owner's Percentage Interest in the amounts due on such Distribution Date to the Owners of the Class AV Certificates.
Thus, each Class AV Certificate shall be treated as representing ownership of not only REMIC regular interests, but also ownership of an interest in an interest rate cap contract.
On or prior to the Closing Date, there shall be delivered to the Depository one Class AV Certificate, one Class MV-1 Certificate, one Class MV-2 Certificate, one Class BV-1 Certificate and one Class BV-2 Certificate, each in registered form registered in the name of the Depository's nominee, Cede & Co., the total face amount of which represents 100% of the Original Class Principal Balance of each Class, respectively.