Class PO Certificate definition

Class PO Certificate. Any one of the Certificates designated as a Class PO Certificate, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit A-3.

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Class PO Certificate. Any one of the Class PO Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-9 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions. The Class PO Certificates shall have a Pass-Through Rate of 0% per annum and shall not be entitled to any distributions of interest.

Class PO Certificate. Any Class PO-1 Certificate, Class PO-2 Certificate or Class PO-3 Certificate.

Examples of Class PO Certificate in a sentence

For purposes of the preceding sentence, any Class PO Deferred Amount distributed to a Class PO Certificate on previous Distribution Dates shall be deemed to have been allocated in respect of the Mortgage Loans as to which the applicable PO Percentage of the principal portion of Realized Losses has previously been allocated to such Class on a pro rata basis (based on the amount of Realized Losses so allocated).
No interest will accrue on the Class PO Certificate Deferred Amount.
On each Distribution Date through the Cross-Over Date, the Current Principal Amount of the lowest ranking Class of Subordinate Certificates then outstanding will be reduced by the amount of any distributions in respect of any Class PO Certificate Deferred Amount on such Distribution Date in accordance with the priorities set forth above, through the operation of the Subordinate Certificate Writedown Amount.
The Certificate Principal Balance hereof will be reduced to the extent of distributions allocable to principal hereon and any Realized Losses and Class PO Certificate Deferred Payment Writedown Amounts allocable hereto.
After the Cross-Over Date, no more distributions will be made in respect of, and applicable Realized Losses and Class PO Certificate Cash Shortfalls allocable to the Principal Only Certificates will not be added to, the Class PO Certificate Deferred Amount.
Notwithstanding anything else to the contrary herein, any purported transfer of a Class PO Certificate to or on behalf of a Plan, without the delivery to the Trustee and the Company of an opinion of counsel as described above, shall be void and of no effect.
On each Distribution Date through the Cross-Over Date, the Certificate Principal Balance of the lowest ranking Class of Subordinate Certificates then outstanding will be reduced by the amount of any distributions in respect of any Class PO Certificate Deferred Amount on such Distribution Date in accordance with the priorities set forth above, through the operation of the Subordinate Certificate Writedown Amount.
For purposes of the preceding sentence, any Class PO Deferred Amount distributable to a Class PO Certificate on previous Distribution Dates shall be deemed to have been allocated in respect of the Mortgage Loans as to which the PO Percentage of the principal portion of Realized Losses has previously been allocated to such Class on a pro rata basis (based on the amount of Realized Losses so allocated).
No interest shall accrue on the Class PO Certificate Deferred Amount.
The Class PO Certificate Cash Shortfall for the Class PO Certificates with respect to any Distribution Date will be added to the Class PO Certificate Deferred Amount.

More Definitions of Class PO Certificate

Class PO Certificate. Any Certificate designated as a “Class PO Certificate” on the face thereof, in the form of Exhibit A-1 hereto, representing the right to the Percentage Interest of distributions provided for the Class PO Certificates as set forth herein and evidencing a Regular Interest in REMIC III.

Class PO Certificate. Any one of the Certificates executed and authenticated by the Trustee or Authenticating Agent on behalf of the Depositor in substantially the form set forth in Exhibit A-6 hereto.]

Class PO Certificate. Any Certificate designated as a “Class PO Certificate” on the face thereof, evidencing the ownership of the Class I-PO Component and the Class II-PO Component.