Class M Certificate definition

Class M Certificate. Any one of the Certificates designated as a Class M-1 Certificate, Class M-2 Certificate or Class M-3 Certificate.
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Class M Certificate means any of the Certificates with a "Class M" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.
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Class M Certificate. Any one of the Class M Certificates executed by the Depositor and authenticated by the Trustee, subordinated in right of payment to the Class A Certificates, substantially in the form of the Class M Certificate set forth in Exhibit D hereto.
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Examples of Class M Certificate in a sentence

  • Any allocation of Realized Losses to a Class A Certificate or Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made.

  • Ownership of a Class A Certificate, Class M Certificate or Class B Certificate will not be a factor in determining whether the owner thereof is subject to Minnesota income or franchise taxes.

  • As a result of the foregoing, the amount of distributions and taxable income on the REMIC regular interest corresponding to a Class A or Class M Certificate may exceed the actual amount of distributions on the Class A or Class M Certificate.

  • For federal income tax purposes, the Trust Administrator will account for payments to each Class A and Mezzanine Certificates as follows: each Class A and Class M Certificate will be treated as receiving their entire payment from REMIC III (regardless of any Swap Termination Payment or obligation under the Interest Rate Swap Agreement) and subsequently paying their portion of any Swap Termination Payment in respect of each such Class’ obligation under the Interest Rate Swap Agreement.

  • Therefore, if the owner of a Class A Certificate, Class M Certificate or Class B Certificate is not otherwise subject to Minnesota income or franchise taxes in the State of Minnesota, the owner will not become subject to such Minnesota taxes solely by virtue of owning a Class A Certificate, Class M Certificate or Class B Certificate.


More Definitions of Class M Certificate

Class M Certificate. Any one of the Class M-1, Class M-2 or Class M-3 Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit A-1, executed by the Securities Administrator and authenticated and delivered by the Securities Administrator, representing the right to distributions as set forth herein and therein.
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Class M Certificate. Any one of the Certificates with an “M” designated on the face thereof substantially in the form annexed hereto as Exhibit B, executed by the Trustee on behalf of the Trust and authenticated and delivered by the Certificate Registrar, representing the right to distributions as set forth herein and therein.
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Class M Certificate. Any one of the Class M-1 Certificates, Class M-2 Certificates or Class M-3 Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit B and evidencing an interest designated as a "regular interest" in the Trust Fund for purposes of the REMIC Provisions.
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Class M Certificate. Any one of the Certificates executed by the Trust Administrator and authenticated by the Trust Administrator or the Authenticating Agent in substantially the form set forth in Exhibit C and Exhibit D hereto.
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Class M Certificate. Any one of the Class M-I or Class M-II Certificates.
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Class M Certificate means any one of the Class M-1 or M-2 Certificates executed and delivered by the Trustee.
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