Class M-7 Certificates definition

Class M-7 Certificates. All Certificates bearing the class designation of "Class M-7."

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Class M-7 Certificates. Any one of the Class M-7 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit B-1, executed by the Trustee and authenticated and delivered by the Trustee, representing the right to distributions as set forth herein and therein and evidencing a REMIC Regular Interest in REMIC 2.

Class M-7 Certificates. Any one of the Class M-7 Certificates executed, authenticated and delivered by the Trust Administrator, substantially in the form annexed hereto as Exhibit A-13 and evidencing (1) a Regular Interest in REMIC IV for purposes of the REMIC Provisions, (2) the right to receive the related Net WAC Rate Carryover Amount, (3) the obligation to pay any Class IO Distribution Amount and (4) the obligation to pay any Class X-1 Distribution Amount.

Examples of Class M-7 Certificates in a sentence

This certifies that Cede & Co. is the registered owner of a Percentage Interest (obtained by dividing the denomination of this Certificate by the aggregate Certificate Principal Balance of the Class M-7 Certificates as of the Issue Date) in that certain beneficial ownership interest evidenced by all the Class M-7 Certificates in the REMIC created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Citigroup Mortgage Loan Trust Inc.
This certifies that Cede & Co. is the registered owner of a Percentage Interest (obtained by dividing the denomination of this Certificate by the aggregate Certificate Principal Balance of the Class M-7 Certificates as of the Issue Date) in that certain beneficial ownership interest evidenced by all the Class M-7 Certificates in a REMIC created pursuant to a Pooling and Servicing Agreement, dated as specified above (the “Agreement”), among Mortgage Asset Securitization Transactions, Inc.
As provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, Class M-7 Certificates are exchangeable for new Class M-7 Certificates of authorized denominations evidencing the same aggregate principal amount.
The Class M-7 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.
The Class M-4 Certificates, Class M-5 Certificates, Class M-6 Certificates, Class M-7 Certificates, Class M-8 Certificates and Class M-9 Certificates shall be issuable in minimum dollar denominations of $250,000 and integral multiples of $1 in excess thereof.
Interest will accrue on the Class M-7 Certificates during each Interest Accrual Period at the Certificate Interest Rate.
The Percentage Interest of each Class M-7 Certificate as of any date of determination will be equal to the percentage obtained by dividing the original Certificate Principal Balance of such Class M-7 Certificate on the Startup Day by the aggregate Certificate Principal Balance of the Class M-7 Certificates on the Startup Day.
The Owner hereof is entitled to principal payments on each Distribution Date, as hereinafter described, which will fully amortize such original Certificate Principal Balance of the Class M-7 Certificates over the period from the date of initial issuance of the Certificates to the Final Scheduled Distribution Date for the Class M-7 Certificates.
Each Owner of record of a Class M-7 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 M-7 Certificates.
The Class M-7 Certificates are issuable only as registered Certificates in minimum denominations of $25,000 original Certificate Principal Balance and in integral multiples of $1,000 in excess of $25,000.

More Definitions of Class M-7 Certificates

Class M-7 Certificates. All Certificates bearing the Class designation of “Class M-7 Certificates” representing the right to distributions as set forth herein and therein and representing (i) a regular interest in REMIC III for purposes of the REMIC Provisions, (ii) the right to receive the Net WAC Rate Carryover Amount, and (iii) the obligation to pay the Class IO Distribution Amount.

Class M-7 Certificates. The First NLC Trust 2005-2 Mortgage-Backed Certificates, Series 2005-2, Class M-7 Certificates having an initial Certificate Principal Balance and Pass-Through Rate as set forth herein and representing a Regular Interest in REMIC X.