Class X-2 definition

Class X-2. Class B," "Class C," "Class D," "Class E," "Class F," "Class G," "Class H," "Class J," "Class K," "Class L," "Class M," "Class N," "Class O," "Class R-I," "Class R-II" and "Class R-III" respectively, on the face thereof, in substantially the form attached hereto as Exhibits.
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Class X-2. Class B," "Class C," "Class D," "Class E," "Class F," "Class G," "Class H," "Class J,"
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Examples of Class X-2 in a sentence

  • This Certificate is one of a duly authorized issue of Certificates designated as Certificates of the series specified on the face hereof (herein called the "Certificates") and representing an interest in the Class of Certificates specified on the face hereof equal to the quotient expressed as a percentage obtained by dividing the Notional Amount of this Certificate specified on the face hereof by the initial aggregate Notional Amount of the Class X-2 Certificates.

  • Subject to the terms of the Pooling and Servicing Agreement, the Class X-2 Certificates will be issued in denominations of $100,000 initial Notional Amount and in any whole dollar denomination in excess thereof.

  • Notwithstanding the previous sentence, if at any time after a Mortgage Loan has been Charged Off and prior to six months after the date on which Wilshire begins servicing such Charged Off Loan using Wilshire Special Servicing, Wilshire determines that there will not be any Net Recoveries on such Charged Off Loan under any circumstances, Wilshire may release such Charged Off Loan to the Majority in Interest Class X-2 Certificateholder in accordance with the provisions set forth in the previous sentence.

  • The Class X-2 Certificates shall evidence ownership of the Basis Risk Reserve Fund for federal income tax purposes and the Holders thereof shall direct the Trustee, in writing, as to investment of amounts on deposit therein.

  • For all Federal income tax purposes, amounts transferred by the Upper-Tier REMIC to the Basis Risk Reserve Fund shall be treated as amounts distributed by the Upper-Tier REMIC to the Class X-2 Certificateholders.

  • Any earnings on amounts in the Basis Risk Reserve Fund shall be for the benefit of the Class X-2 Certificateholders.

  • The Class X-2 Certificateholder(s) shall be liable for any losses incurred on such investments.

  • On each Distribution Date, any amount of Net Deferred Interest allocable to a Class of Certificates (other than the Class X-1 and Class X-2 Certificates) on such Distribution Date will be added as Principal to the outstanding Class Certificate Principal Balance of such Class of Certificates.

  • The Trustee and the Securities Administrator shall treat the rights of the Holders of the Class X-1 Certificates to receive distributions from the Reserve Fund to cover any related Required Reserve Fund Deposits as payments under a cap contract written by the Holders of the Class X-2 Certificates in favor of the Holders of the Class X-1 Certificates.

  • In the absence of written instructions from the Class X-2 Certificateholder as to investment of funds on deposit in the Basis Risk Reserve Fund, such funds shall be invested in money market funds as described in clause (vi) of the definition of Permitted Investments in Article I.

Related to Class X-2

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class X Certificates All Certificates bearing the class designation of "Class X".

  • Class X Strip Rate With respect to each Component for any Distribution Date, a rate per annum equal to: (i) the WAC Rate for such Distribution Date, minus (ii) the Pass-Through Rate for the Corresponding Certificates.

  • Class X-B Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-B Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).

  • Class X-D Pass-Through Rate For any Distribution Date, the weighted average of the Class X Strip Rates for the Class X-D Components for such Distribution Date (weighted on the basis of the respective Component Notional Amounts of such Components outstanding immediately prior to such Distribution Date).