Class M-3 Interest definition

Class M-3 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class M-3 Certificates, evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.
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Class M-3 Interest. The Upper-Tier Regular Interest held by the Class M-3 REMIC as specified and described in the Preliminary Statement and the related footnote thereto.
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Examples of Class M-3 Interest in a sentence

  • The increased levels of prepayments and amortisation of loans increase the associated reinvestment risk on the Collateral Obligations which risk will first be borne by holders of the Subordinated Notes (save in respect of payments of Senior Class M-2 Interest Amounts on the Class M-2 Subordinated Notes and Senior Class M-3 Interest Amounts on the Class M-3 Subordinated Notes) and then by holders of the other Classes of Notes, beginning with the most junior Class.

  • Interest Distribution Amount: The sum of the Class A, Class M-1, Class M-2 and Class M-3 Interest Distribution Amounts.

  • The Class A Certificates, the Class M-1 Certificates, the Class M-2 Interest, the Class M-3 Interest, the Class M-4 Interest, the Class M-5 Interest, the Class CE Interest and the Class P Interest shall be designated as the Regular Interests in REMIC II and the Class R-II Interest shall be designated as the Residual Interest in REMIC II.

  • The increased levels of prepayments and amortisation of loans increase the associated reinvestment risk on the Collateral Obligations which risk will first be borne by holders of the Subordinated Notes (save in respect of payments of Senior Class M-3 Interest Amounts on the Class M-3 Subordinated Notes) and then by holders of the other Classes of Notes, beginning with the most junior Class.

  • The Trustee acknowledges the assignment to it of the Class M-2 Interest, Class M-3 Interest, Class M-4 Interest, Class M-5 Interest, Class CE Interest and Class P Interest and, concurrently therewith and in exchange therefor, pursuant to the written request of the Depositor executed by an officer of the Depositor or the Trustee has executed, authenticated and delivered to or upon the order of the Depositor, the Class R-X Certificates in authorized denominations.

  • If a Distribution Switch Event occurs, all Senior Class M-3 Interest Amounts required to be determined thereafter shall be deemed to be zero, which will reduce the payments to which the Class M-3 Subordinated Noteholders are entitled.

  • Conveyance of the Class M-3 Interest; Acceptance of REMIC IV by the Trustee.......................................62 SECTION 2.11.

  • The Senior Class M-3 Interest Amounts and Subordinated Class M-3 Interest Amounts may be deferred or waived at the election of all of the Class M-3 Subordinated Noteholders and, in respect of a deferral, will not earn interest.

  • The Senior Class M-3 Interest Amounts and Subordinated Class M-3 Interest Amounts may be deferred or waived at the election of all of the Class M-3 Subordinated Noteholders and, in respect of a deferral, will notearn interest.

  • If a Distribution Switch Event occurs, all Senior Class M-2 Interest Amounts, Subordinated Class M-2 Interest Amounts, Senior Class M-3 Interest Amounts or Subordinated Class M-3 Interest Amounts required to be determined thereafter shall be deemed to be zero, which will reduce the payments to which the Class M-2 Subordinated Noteholders and the Class M-3 Subordinated Noteholders are entitled.

Related to Class M-3 Interest

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

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

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

  • Class M-1 Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class M-1 Pass-Through Rate on the Class M-1 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-1 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-1 Certificates.

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

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

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

  • 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-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-1 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-1 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-1 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-1 Pass-Through Rate for the related Accrual Period.

  • 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.