Lower Tier Regular Classes definition
Examples of Lower Tier Regular Classes in a sentence
Distributions on the Lower Tier Regular Classes shall be made to the Trustee of the Trust Fund by transfer of immediately available funds to the Trust Account.
The Lower Tier Regular Classes shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund.
No resignation shall become effective until a successor shall have been appointed and shall have assumed all duties imposed by the terms of this Trust Agreement; provided, however, that no successor to ▇▇▇▇▇▇ ▇▇▇ in its corporate capacity hereunder shall be obligated to perform under ▇▇▇▇▇▇ Mae’s guaranty of the Lower Tier Regular Classes and the Trust Fund Certificates pursuant to Sections 2.04 and 3.07.
The aggregate amount of principal and interest distributable in respect of the Lower Tier Regular Classes during any calendar month shall equal the Lower Tier Distribution Amount for such calendar month.
On each Distribution Date, ▇▇▇▇▇▇ ▇▇▇ shall withdraw from the Certificate Account the portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Regular Classes in the respective amounts and in the applicable manner determined pursuant to Section 2.02.
On each Distribution Date, the Lower Tier Principal Distribution Amount shall be applied as principal of particular Lower Tier Regular Classes in amounts corresponding to the respective amounts required to be applied as principal of their related Companion Classes, from the Principal Distribution Amount as provided herein.
All computations of interest accrued on the Lower Tier Regular Classes shall be made as if each year consisted of twelve months of 30 days each.
All computations of interest accrued on the Lower Tier Regular Classes shall be made as if each year consisted of twelve months of thirty days each.
Interest accrued on each Class of Lower Tier Regular Classes for the related Interest Accrual Period at the applicable Interest Rate shall be distributed on each applicable Distribution Date, except as specified below in the case of the Lower Tier Accrual Classes.
On each Distribution Date, except as provided below with respect to the Lower Tier Accrual Classes, the portion of the Lower Tier Distribution Amount distributable thereon shall be applied, first, to the distribution of interest accrued on each applicable Class of Lower Tier Regular Classes during the preceding Interest Accrual Period at the per annum rate specified on the Lower Tier Schedule and, second, to the principal thereof as described below.