Class Y Certificates definition

Class Y Certificates. The Certificates designated as “Class Y” on the face thereof in substantially the form attached hereto as Exhibit A.
Class Y Certificates. All Certificates bearing the class designation of “Class Y.”
Class Y Certificates. The Certificates designated as "Class Y" on the face thereof in substantially the form attached hereto as Exhibit A. Clean-Up Call Option Date: The date on which the aggregate principal balance of the Mortgage Loans has been reduced to less than the Clean-Up Call Percentage of that balance as of the Cut-Off Date. Clean-Up Call Percentage: 5%.

Examples of Class Y Certificates in a sentence

  • The Class Y Certificates will not represent an interest in any REMIC.

  • The Trustee hereby acknowledges and accepts on behalf of the Trust the assignment to the Trust of the REMIC II Assets and declares that as of the Closing Date it holds and shall hold any documents constituting a part of the REMIC II Assets, and the REMIC II Assets, as Trustee in trust, upon the trust herein set forth, for the use and benefit of all present and future Holders of the Certificates (other than the Class R and Class Y Certificates) and the Class R-2 Residual Interest.

  • This certifies that ________________________________ is the registered owner of the Percentage Interest evidenced by this Certificate (as specified above) in that certain beneficial ownership interest in the Trust evidenced by all the Class Y Certificates.

  • The Class A-R and Class Y Certificates are issuable only in a Percentage Interest of 100%.

  • Under the Yield Maintenance Agreement and for each Distribution Date, the Class Y Certificates shall be entitled to a distribution equal to the sum of (i) such excess and (ii) the excess of the related Yield Maintenance Distributable Amount over the amount of unpaid Basis Risk Shortfalls with respect to the related Certificates.

  • Under each Yield Maintenance Agreement and for each Distribution Date, the Class Y Certificates shall be entitled to a distribution equal to the sum of (i) such excess and (ii) the excess of the related Yield Maintenance Distributable Amount over the amount of unpaid Basis Risk Shortfalls with respect to the related Certificates.

  • For any Distribution Date on which there is a payment under a Yield Maintenance Agreement and such Yield Maintenance Payment exceeds the related Yield Maintenance Distributable Amount, the amount representing such excess payment shall not be an asset of the Trust Fund and, instead, shall be paid into and distributed out of a separate trust created by this Agreement for the benefit of the Class Y Certificates and shall be distributed to the Class Y Certificates pursuant to this Section 4.04.

  • For any Distribution Date on which there is a payment under the Yield Maintenance Agreement and such Yield Maintenance Payment exceeds the related Yield Maintenance Distributable Amount, the amount representing such excess payment shall not be an asset of the Trust Fund and, instead, shall be paid into and distributed out of a separate trust created by this Agreement for the benefit of the Class Y Certificates and shall be distributed to the Class Y Certificates pursuant to this Section 4.04.

  • The Class A-R, Class C and Class Y Certificates are issuable only in a Percentage Interest of 100%.

  • Pursuant to the Agreement, the depositor also issued the Washington Mutual Bank, FA Mortgage-Backed Pass-Through Certificates, Series 2002-WM4, Class V Certificates (the “Class V Certificates”), the Class W Certificates and the Class Y Certificates.


More Definitions of Class Y Certificates

Class Y Certificates means any of the Certificates with a "Class Y" designation on the face thereof, substantially in the form of Exhibit A-6 attached hereto, and evidencing an undivided beneficial interest in the Oakmonte Junior Portion.
Class Y Certificates. The Certificates designated as "Class Y" on the face thereof in substantially the form attached hereto as Exhibit A. Class Y Yield Maintenance Payment: For any Distribution Date on or before March 2017, the excess, if any, of (i) the amounts received by the Trustee pursuant to the Yield Maintenance Agreement for such Distribution Date and deposited by the Trustee into the Yield Maintenance Account in accordance with Section 3.16 over (ii) the Class A Yield Maintenance Payment for such Distribution Date. Clean-Up Call Option Date: The date on which the aggregate principal balance of the Mortgage Loans has been reduced to less than the Clean-Up Call Percentage of that balance as of the Cut-Off Date. Clean-Up Call Percentage: 5%.
Class Y Certificates. The Class Y-1 or Class Y-2 Certificates, as applicable.

Related to Class Y Certificates

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Delay Certificates As specified in the Preliminary Statement.

  • Class J Certificate means any one of the Certificates with a "Class J" 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.

  • Class B-5 Certificates The Certificates designated as “Class B-5” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class B-4 Certificates The Certificates designated as “Class B-4” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class C Certificates Any one of the Class C Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-18, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 4.

  • -ENTRY CERTIFICATES Any of the Certificates that shall be registered in the name of the Depository or its nominee, the ownership of which is reflected on the books of the Depository or on the books of a person maintaining an account with the Depository (directly, as a "Depository Participant", or indirectly, as an indirect participant in accordance with the rules of the Depository and as described in Section 7.06). As of the Closing Date, each Class of Regular Certificates constitutes a Class of Book-Entry Certificates.

  • New Certificates has the meaning assigned in Section 3.3(a).

  • Class B-6 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-6 and Exhibit C hereto. Class B-6 Certificateholder: The registered holder of a Class B-6 Certificate.

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

  • Class B Certificates The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates.

  • Class B-5 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-5 and Exhibit C hereto. Class B-5 Certificateholder: The registered holder of a Class B-5 Certificate.

  • Class A-6 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-6 and Exhibit C hereto.

  • Class SB Certificate Any one of the Certificates designated as a Class SB Certificate. Class X Certificate: Any one of the Certificates designated as a Class X Certificate.

  • Class A-8 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-8 and Exhibit C hereto.

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

  • Class B-4 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-4 and Exhibit C hereto. Class B-4 Certificateholder: The registered holder of a Class B-4 Certificate.

  • Class M Certificates Any of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates.

  • Class A Certificates The Class A-1, Class A-2, Class A-3 and Class A-4 Certificates.

  • Class H Certificate means any of the Certificates with a "Class H" 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.

  • Class N Certificate means any of the Certificates with a "Class N" 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.

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

  • Group II Class A Certificates The Class A-2a Certificates, the Class A-2b Certificates, the Class A-2c Certificates and the Class A-2d Certificates, collectively.

  • Class A-7 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-7 and Exhibit C hereto.

  • Class AA Certificates means Pass Through Certificates issued by the Class AA Pass Through Trust.

  • Class K Certificate means any of the Certificates with a "Class K" 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.