Group 2 Senior definition

Group 2 Senior. Certificates: Class 2-A-1 and Class 2-A-2 Certificates.

Group 2 Senior. PERCENTAGE: Initially, 98.00%. On any Distribution Date, the lesser of (i) 100% and (ii) the percentage (carried to six places rounded up) obtained by dividing the aggregate Current Principal Amount of the Group 2 Senior Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Group 2 Mortgage Loans as of the beginning of the related Due Period.

Group 2 Senior. Certificates: Class 2-A-1 and Class 15-IO Certificates. Holder: A Certificateholder.

Examples of Group 2 Senior in a sentence

• See the definition of “Group 1 Senior Prepayment Percentage or Group 2 Senior Prepayment Percentage”.

• The "Group 2 Senior Percentage" with respect to any Payment Date and the Group 2 Notes, is the percentage equivalent of a fraction, the numerator of which is the Class Notional Amount of the Class 2A-H Reference Tranche immediately prior to such Payment Date and the denominator of which is the aggregate unpaid principal balance of the Reference Obligations in Loan Group 2 at the end of the previous Reporting Period.

• The "Group 2 Subordinate Percentage" with respect to any Payment Date and the Group 2 Notes is the percentage equal to 100% minus the Group 2 Senior Percentage for such Payment Date.

• Group 2 Senior Certificates and the portions of the Subordinated Certificates related to Loan Group 2.

• Any of the Group 1 Senior Net Funds Cap, the Group 2 Senior Net Funds Cap or the Subordinate Net Funds Cap, as applicable.

More Definitions of Group 2 Senior

Group 2 Senior. Certificates: Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 2-A-6, Class 2-A-7, Class 2-A-8, Class 2-A-9, Class 2-A-10, Class 2-A-11, Class 2-A-12, Class 2-A-13, Class 2-A-14, Class 2-A-15, Class 2-A-16 and Class 2-IO Certificates.

Group 2 Senior. Percentage: Initially, 96.75

Group 2 Senior. Certificates: Class 2-NC-1, Class 2-NC-2 and Class 2-NC-WIO Certificates.

Group 2 Senior. Certificates: Collectively, the Class A2, Class A3, Class A4 and Class A5 Certificates. Holder or Certificateholder: The registered owner of any Certificate as recorded on the books of the Certificate Registrar except that, solely for the purposes of taking any action or giving any consent pursuant to this Agreement, any Certificate registered in the name of the Depositor, the Trustee, the Master Servicer, the Securities Administrator, any Servicer or the Credit Risk Manager or any Affiliate thereof shall be deemed not to be outstanding in determining whether the requisite percentage necessary to effect any such consent has been obtained, except that, in determining whether the Trustee shall be protected in relying upon any such consent, only Certificates which a Responsible Officer of the Trustee knows to be so owned shall be disregarded. The Trustee and any NIMS Insurer may request and conclusively rely on certifications by the Depositor, the Master Servicer, the Securities Administrator, the applicable Servicer or the Credit Risk Manager in determining whether any Certificates are registered to an Affiliate of the Depositor, the Master Servicer, the Securities Administrator, any Servicer or the Credit Risk Manager. After a Section 7.01(c) Purchase Event, other than in Sections 5.02(b) through (g) and 11.03(a) and (b) and, except in the case of the Class LT-R Certificates, Sections 3.03, 3.04, 3.05, 3.06, 3.07 and 3.09 herein, all references in this Agreement to “Holder” or “Certificateholder” shall be deemed to be references to the LTURI-holder, as recorded on the books of the Certificate Registrar, as holder of the Lower Tier Uncertificated REMIC 1 Regular Interests. HUD: The United States Department of Housing and Urban Development, or any successor thereto.

Group 2 Senior. Certificates: Collectively, the Class A2, Class A3 and Class A4 Certificates.

Group 2 Senior. Certificates: Class 2-NC-1 and Class NC-IO Certificates. Holder: A Certificateholder.

Group 2 Senior. Certificates: Class 2-CB-1, Class 2-CB-2, Class 2-CB-3, Class 2-CB-4 and Class 2-CB-5 Certificates.