Group 1 Classes definition
Examples of Group 1 Classes in a sentence
Any distribution of principal pursuant to the preceding sentence shall be deemed to be part of the Principal Distribution Amount for the Group 1 Classes for purposes of all future calculations of Class Factors.
In the event that the amount on deposit in the REMIC Trust Account shall be less than the Certificate Distribution Amount for the Group 1 Classes for such Distribution Date, then ▇▇▇▇▇▇ ▇▇▇ shall provide from its own funds the amount of any insufficiency.
Our guaranty will not cover any excess prepayment interest shortfall amounts as described under “Description of the Certificates – Interest Payments on the Certificates – Group 1 Classes – Excess Prepayment Interest Shortfalls” in the Prospectus.
All such Security Distributions deposited from time to time in the Grantor Trust Account, and all investments made with such funds, excluding interest earnings and other investment earnings, will be held in trust in the Grantor Trust Account for the benefit of the Holders of the Group 1 Classes as herein provided, subject to withdrawal by the Trustee for the purposes set forth in Section 5.04.
With the consent of the Holders of Certificates of each Class representing at least 51% of the Voting Rights of such Class, the Issuer and the Trustee may enter into any Amendment for any purpose or waive any provision of this Trust Agreement, other than any change to which Subsection 12.04(b) applies; provided, however, that any Amendment that requires the consent of Holders of the Group 1 Classes will require the consent of 100% of the Holders of the Group 1 Classes.
Distributions of the Group 1 Principal Distribution Amount and Group 2 Principal Distribution Amount shall be made in the order and in the amounts as among the Group 1 Classes and Group 2 Classes, respectively, as provided in the Prospectus Supplement.
The R Class Certificate is hereby designated as the sole “residual interest” in the Upper Tier REMIC within the meaning of Section 860G(a)(2) of the Code, and each remaining Class of Regular Certificates (other than the Group 1 Classes) is hereby designated as a “regular interest” in the Upper Tier REMIC within the meaning of Section 860G(a)(1) of the Code.
All beneficial owners of the Group 1 Classes hereby covenant that each such owner will agree to treat the agreement contained in this Section 3.08(a) (the “Group 1 Sequential Class Interest Rate Cap Contract”) as a notional principal contract for all federal income tax purposes.
In the event that amounts shall remain in the REMIC Trust Account on the final Distribution Date with respect to the Group 1 Classes following the distribution of the Certificate Distribution Amount for the Group 1 Classes for such month, such amounts may be withdrawn by ▇▇▇▇▇▇ ▇▇▇ as compensation for its administrative and guaranty obligations or as reimbursement to ▇▇▇▇▇▇ Mae for any advance by it pursuant to such guaranty obligations under Section 3.04 hereof.
In the event that amounts shall remain in the Base Trust Account on the final Distribution Date with respect to the Group 1 Classes following the distribution of the Group 1 Distribution Amount for such month, such amounts may be withdrawn by ▇▇▇▇▇▇ ▇▇▇ as compensation for its administrative and guaranty obligations or as reimbursement to ▇▇▇▇▇▇ Mae for any advance by it pursuant to such guaranty obligations under Section 3.04 hereof.