Class CB Certificates definition
Examples of Class CB Certificates in a sentence
The pledge of payments on the Class CB Certificates to the Supplemental Interest Trust will be treated as a limited guaranty written by the Holder of the Class CB Certificate for the benefit of the Holders of the Class CA Certificate.
To the extent that the Class CB Interest Distributable Amount paid to the Supplemental Interest Trust as described in Section 10.01(n) is not paid in full to the Holders of the Class CB Certificates pursuant to Section 4.04(c)(v), a right of reimbursement will arise in favor of the Holders of the Class CB Certificates against the Holders of the Class CA Certificates.
As provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, Class CB Certificates are exchangeable for new Class CB Certificates of authorized denominations evidencing the same aggregate principal amount.
There is hereby added as a final paragraph the following, to be inserted in the Forms of Class CA, Class CB and Class R Certificates: “The Servicer, the Holders of 100% of the Class CA Certificates, the Holders of 100% of the Class CB Certificates and the Holders of 100% of the Class R Certificates entered into an Acknowledgement and Assignment Agreement dated as of September 18, 2006.
For purposes of calculating the reduction of the Interest Distribution Amount for each Class of Class C-B Certificates with respect to Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 or Loan Group 6 such reduction shall be based on the amount of interest accruing at the Net WAC Rate for such Loan Group on such Class’ proportionate share, based on the Class Principal Balance of the related Subordinate Component Balance for that Distribution Date.
As long as the Class I-A Certificates, the Class 1-A Certificates, the Class 2-A Certificates, the Class B Certificates or the Class C-B Certificates are outstanding, the Servicer shall forward a copy of such statement to the Rating Agencies.
This Certificate is one of a Class of duly-authorized Certificates designated as NovaStar Home Equity Loan Asset-Backed Certificates, Series 2007-1, Class CB Certificates (the "Class CB Certificates") and issued under and subject to the terms, provisions and conditions of the Pooling and Servicing Agreement, to which the owner of this Certificate, by virtue of acceptance hereof assents, and is bound.
With respect to the Pass-Through Loan Groups, the Class C-B Certificates, and with respect to the Floater Loan Group, the Group 5 Subordinate Certificates.
For purposes of calculating the reduction of the Interest Distribution Amount for each Class of Class C-B Certificates with respect to Loan Group 1, Loan Group 2, Loan Group 3 or Loan Group 4 such reduction shall be based on the amount of interest accruing at the Net WAC Rate for such Loan Group on such Class's proportionate share, based on the Class Principal Balance of the related Subordinate Component Balance for that Distribution Date.
So long as the Class I-A Certificates, Class 1-A Certificates, Class 2-A Certificates, Class B Certificates or Class C-B Certificates are outstanding, the Servicer shall promptly give notice to the Trustee, the Rating Agencies and the Depositor of the location of the Custodial Account and of any change thereof.