Class M-2 definition

Class M-2. Class B-1," "Class B-2," "Class B-3I" or "Class C" means pertaining to each Class of Class A-1 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3I Certificates and/or Class C Certificates, as the case may be.
Sample 1
Class M-2. Applied Realized Loss Amount As to the Class M-2 Certificates and as of any Distribution Date, the lesser of (a) the Class Certificate Balance thereof (after taking into account the distribution of the Principal Distribution Amount on that Distribution Date, but prior to the application of the Class M-2 Applied Realized Loss Amount, if any, on that Distribution Date) and (b) the excess of (i) the Realized Loss Amount as of that Distribution Date over (ii) the sum of the Class M-3 Applied Realized Loss Amount, the Class M-4 Applied Realized Loss Amount, the Class M-5 Applied Realized Loss Amount, the Class M-6 Applied Realized Loss Amount, the Class B-1 Applied Realized Loss Amount, the Class B-2 Applied Realized Loss Amount and the Class B-3 Applied Realized Loss Amount, in each case as of that Distribution Date. Class M-2 Certificate Any Certificate executed and authenticated by the Trustee substantially in the form attached hereto as Exhibit A-3 and designated as a Class M-2 Certificate.
Sample 1
Class M-2. Class B," "Mezzanine Certixxxxxxx," xxx "Subordinated Certificates" are references to Certificates of either or both Certificate Groups of similar designations, as the context requires.
Sample 1

Examples of Class M-2 in a sentence

  • Reference is hereby made to the further provisions of this Class M-2 Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.

  • Accordingly, the Certificate Principal Balance of this Class M-2 Certificate at any time may be less than the Initial Certificate Principal Balance set forth on the face hereof, as described herein.

  • This Class M-2 Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Class M-2 Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.

  • This Class M-2 Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trustee.

  • On the Closing Date, the Class M-2A and Class M-2B Notes will be deemed to have been exchanged, in whole or in part, as applicable, for the Class M-2 Notes, the Class B-1A and Class B-1B Notes will be deemed to have been exchanged, in whole or in part, as applicable, for the Class B-1 Notes and the Class B-2A and Class B-2B Notes will be deemed to have been exchanged, in whole or in part, as applicable, for the Class B-2 Notes.The Original Notes will be issued pursuant to the Indenture.

  • This certifies that Cede & Co. is the registered owner of the Percentage Interest evidenced by this Class M-2 Certificate (obtained by dividing the Denomination of this Class M-2 Certificate by the Original Class Certificate Principal Balance) in certain monthly distributions with respect to a Trust consisting primarily of the Mortgage Loans deposited by Financial Asset Securities Corp.

  • This Class M-2 Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, or the Trustee referred to below or any of their respective affiliates.

  • Pursuant to the hypothetical structure, the Class M-2 and Class M-2H Reference Tranches are pro rata with each other.

  • The Class M-2 Certificates are limited in right of payment to certain collections and recoveries respecting the Mortgage Loans, all as more specifically set forth herein and in the Agreement.

  • Pursuant to the procedures and fees set forth in the Exchange Administration Agreement, the Class M-2A and Class M-2B Notes may be exchanged, in whole or in part, for the Class M-2 Notes, and vice versa, pursuant to Combination 1 described in Appendix II, at any time on or after the Closing Date.


More Definitions of Class M-2

Class M-2. Interest will be paid to the Class M-2 Certificateholders at the Class M-2 Pass-Through Rate, after payment of all interest and all principal due to the Class A Certificateholders, and Class M-1 Certificateholders. Interest will accrue from the Settlement Date or from the most recent Payment Date on which interest was paid, based on 360-day year of twelve 30-day months. The Class M-2 Certificateholders will receive the Senior Percentage of the Formula Principal Distribution Amount, if the ------------------------------------------------------------------------------ Recipients must read the information contained in the attached statement. Do not use or rely on this information if you have not received and reviewed the statement. If you have not received the statement, call your Xxxxxxx Xxxxx account executive for another copy. Class A and Class M-1 Principal Balances have been reduced to zero, after payment of all interest payable to Class M-2 Certificateholders. On each Payment Date on or after the Class B Cross-over Date on which each Class B Principal Distribution Test is satisfied, payments of principal will be made to Class B-1 or Class B-2 Certificateholders, even if Class M-2 Certificateholders are not yet entitled to receive payments of principal because the Class A Principal Balance and Class M-1 Principal Balance have not been reduced to zero.
Sample 1
Class M-2 loss balance" on any payment date will be the outstanding note balance of the Class M -2 notes immediately preceding that payment date less the Class M-2 adjusted note balance for that payment date. The "interest accrual period" for any payment date with respect to each class of notes, will be the calendar month preceding the month in which the payment date occurs. The "note balance" of any class of notes as of any payment date will be the original principal balance of that class less all amounts previously paid to holders of that class on account of principal. The "note rate" for (i) each class of Class A notes, other than the Class A-4 notes, will be the fixed rate listed on the cover of this prospectus supplement for the class of notes and (ii) the Class A-4 notes and each class of Class M notes will be the lesser of (x) the fixed rate listed on the cover of this prospectus supplement for that class of notes and (y) the available funds rate for that payment date. The "available funds rate" for any payment date will be the rate per annum equal to the weighted average of the contract rates (weighted on the basis of the principal balance of the contracts as of the first day of the related due period), net of the rate at which the trustee fee, the servicing fee and the backup servicing are calculated, multiplied by a fraction the numerator of which is the pool principal balance for the immediately preceding payment date and the denominator of which is the sum of aggregate note balance of the Class A notes as of the day immediately prior to that payment date, the Class M-1 adjusted note balance for that payment date and the Class M-2 adjusted note balance for that payment date. The "available funds cap carry-forward amount" for the Class A-4 notes or a class of Class M notes and any payment date on which the note rate therefor is the available funds rate, will be the sum of
Sample 1
Class M-2 means a Transaction involving an Eligible Mortgage Loan which Asset has an LTV less than or equal to 70% but greater than 65%.
Sample 1

Related to Class M-2

  • Class M-2 Certificate Any one of the Class M-2 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-6 Certificate Any one of the Class M-6 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-7 Certificate Any one of the Class M-7 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-6 Certificates All Certificates bearing the class designation of "Class M-6".

  • Class M-3 Certificate Any one of the Class M-3 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

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

  • Class M-5 Certificate Any one of the Class M-5 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-4 Certificate Any one of the Class M-4 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-4 Certificates All Certificates bearing the class designation of "Class M-4".

  • Class M-3 Certificates All Certificates bearing the class designation of "Class M-3".

  • Class M-5 Certificates All Certificates bearing the class designation of "Class M-5".

  • Class M-8 Certificate Any one of the Class M-8 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-2 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.310% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.465% per annum.

  • Class M-9 Certificate Any one of the Class M-9 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class M-1 Certificate Any one of the Class M-1 Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-2 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class M-3 Margin As of any Distribution Date up to and including the Initial Optional Termination Date, 0.3300% per annum and, as of any Distribution Date after the Initial Optional Termination Date, 0.4950% per annum.

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

  • Class M-1 Margin With respect to any Distribution Date prior to the second Distribution Date after the first possible Optional Termination Date, 0.420% per annum, and on any Distribution Date on or after the second Distribution Date after the first possible Optional Termination Date, 0.630% per annum.

  • Class M-10 Certificate Any one of the Class M-10 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-M-10 and evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive the Net WAC Rate Carryover Amount and (iii) the obligation to pay the Class IO Distribution Amount.

  • Class M Notes The Class M-1, Class M-2 and Class M-3 Notes.

  • Class M-2 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-2 Pass-Through Rate on the Class M-2 Certificate Principal Balance as of such Distribution Date plus the portion of any previous distributions on such Class in respect of Current Interest or Class M-2 Interest Carry Forward Amount that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class M-2 Certificates.

  • Class M-3 Pass-Through Rate For the first Distribution Date, _____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-3 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-2 Pass-Through Rate For the first Distribution Date, 5.6800% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-2 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class M-4 Pass-Through Rate For the first Distribution Date, ____% per annum. As of any Distribution Date thereafter, the lesser of (1) One-Month LIBOR plus the Class M-4 Margin and (2) the Weighted Average Available Funds Cap for such Distribution Date.

  • Class M-5 Pass-Through Rate For the first Distribution Date, 5.7700% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class M-5 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • CLASS M PERCENTAGE As of any Distribution Date, the percentage obtained by dividing the Class M Principal Balance by the Mortgage Pool Principal Balance, but not more than 100%; provided, however, that on any Distribution Date on which the Class B Percentage equals 0%, the Class M Percentage shall equal 100% minus the Class A Percentage.