Non-Reduced Certificates definition

Non-Reduced Certificates. As of any date of determination, any Class of Principal Balance Certificates then outstanding for which (a)(1) the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) the aggregate payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of such Class of Certificates as of such date of determination, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates as of such date of determination and (z) any applicable Realized Losses previously allocated to such Class of Certificates as of such date of determination, is equal to or greater than (b) 25% of the remainder of (i) the initial Certificate Balance of such Class of Certificates less (ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of that Class of Certificates as of such date of determination.
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Non-Reduced Certificates. As of any date of determination, any Class of Certificates (other than the Class R and Class X Certificates) then outstanding for which (a)(1) the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) the aggregate payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of such Class of Certificates as of such date of determination, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates as of such date of determination and (z) any Realized Losses previously allocated to such Class of Certificates as of such date of determination, is equal to or greater than (b) 25% of the remainder of (i) the initial Certificate Balance of such Class of Certificates less (ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of that Class of Certificates as of such date of determination; provided that for purposes of this definition, the Class A-S Certificates and the Class EC Component A-S will be considered as if they together constitute a single “Class” of Certificates, the Class B Certificates and the Class EC Component B will be considered as if they together constitute a single “Class” of Certificates, the Class C Certificates and the Class EC Component C will be considered as if they together constitute a single “Class” of Certificates, and the Class EC Certificates will be Non-Reduced Certificates only with respect to each Class EC Component that is part of a “Class” of Non-Reduced Certificates determined as described in this proviso.
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Non-Reduced Certificates. As of any date of determination, any Class of Sequential Pay Certificates then outstanding for which (a) (1) the initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Certificateholders of such Class of Certificates, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates as of the date of determination and (z) any Realized Losses previously allocated to such Class of Certificates, is equal to or greater than (b) 25% of the remainder of (i) the initial Certificate Balance of such Class of Certificates less (ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Certificateholders of such Class of Certificates.
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Examples of Non-Reduced Certificates in a sentence

  • With respect to any Appraisal Reduction Amount calculated for the purposes of determining the Non-Reduced Certificates or the Controlling Class, as well as the occurrence of a Control Termination Event, the appraised value of the related Mortgaged Property shall be determined on an “as-is” basis.

  • The Certificate Principal Amount of each of the Certificates shall be notionally reduced (solely for purposes of determining the identity of the Non-Reduced Certificates and the Controlling Class, as well as the occurrence of a Control Termination Event) as of any date of determination to the extent of the Appraisal Reduction Amount(s) allocated to such Class on the preceding Distribution Date.

  • The Certificate Balance of each Class of applicable Certificates shall be notionally reduced (solely for purposes of determining the identity of the Non-Reduced Certificates and the Controlling Class, as well as the occurrence of a Control Termination Event) as of any date of determination to the extent of the Appraisal Reduction Amount(s) allocated to such Class on the preceding Distribution Date.

  • The Certificate Principal Balance of each of the Certificates shall be notionally reduced (solely for purposes of determining the identity of the Non-Reduced Certificates and the Controlling Class as well as the occurrence of a Control Termination Event) as of any date of determination to the extent of the Appraisal Reduction Amount(s) allocated to such Class on the preceding Distribution Date.

  • The Certificate Principal Amount of each Class of applicable Certificates shall be notionally reduced (solely for purposes of determining the identity of the Non-Reduced Certificates and the Controlling Class, as well as the occurrence of a Control Termination Event) as of any date of determination to the extent of the Appraisal Reduction Amount(s) allocated to such Class on the preceding Distribution Date.

  • With respect to any Appraisal Reduction Amount calculated for the purposes of determining which Certificates are the Non-Reduced Certificates, which Class of Control Eligible Certificates is the Controlling Class, or whether a Control Termination Event has occurred, the appraised value of the related Mortgaged Property shall be determined on an “as-is” basis.

  • With respect to any Appraisal Reduction Amount calculated for the purposes of determining the Non-Reduced Certificates and with respect to any Appraisal Reduction Amount or Collateral Deficiency Amount calculated for purposes of determining the Controlling Class or the occurrence of a Control Termination Event, the appraised value of the related Mortgaged Property shall be determined on an “as-is” basis.

  • The Certificate Principal Amount of each Class of applicable Certificates shall be notionally reduced (solely for purposes of determining the identity of the Non-Reduced Certificates and the Controlling Class, as well as the occurrence of a CCR Control Termination Event) as of any date of determination to the extent of the Appraisal Reduction Amount(s) allocated to such Class on the preceding Distribution Date.

  • With respect to any Appraisal Reduction Amount calculated for the purposes of determining the Non-Reduced Certificates or the Controlling Class, as well as the occurrence of a Subordinate Companion Loan Control Termination Event or a CCR Control Termination Event, the appraised value of the related Mortgaged Property shall be determined on an “as-is” basis.

  • The Certificate Principal Amount of each of the Certificates shall be notionally reduced (solely for purposes of determining the identity of the Non-Reduced Certificates and the Controlling Class, as well as whether a Subordinate Control Period, Collective Consultation Period or Senior Consultation Period is in effect) as of any date of determination to the extent of the Appraisal Reduction Amount(s) allocated to such Class on the preceding Distribution Date.


More Definitions of Non-Reduced Certificates

Non-Reduced Certificates. As of any date of determination, any Class of Principal Balance Certificates then outstanding for which (a) (1) the Initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Certificateholders of such Class of Certificates, (y) any Appraisal Reduction Amounts then allocated to reduce the Standard Certificate Balance of such Class of Certificates as of the date of determination and (z) any Realized Losses previously allocated to reduce the Standard Certificate Balance of such Class of Certificates, is equal to or greater than (b) 25% of the remainder of (i) the Initial Certificate Balance of such Class of Certificates less (ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Certificateholders of such Class of Certificates.
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Non-Reduced Certificates. As of any date of determination, any Class of Principal Balance Certificates then outstanding for which (a)(1) the initial Certificate Balance of such Class of Certificates (or, in the case of a Class of Exchangeable Certificates, the aggregate of the initial Certificate Balances of all of the Classes of the Exchangeable Certificates (collectively)) minus (2) the sum (without duplication) of (x) the aggregate payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of such Class of Certificates (or, in the case of a Class of Exchangeable Certificates, to all Classes of the of the Exchangeable Certificates (collectively)) as of such date of determination, (y) any Appraisal Reduction Amounts allocated to such Class of Certificates (or, in the case of a Class of Exchangeable Certificates, to all Classes of the Exchangeable Certificates (collectively)) as of such date of determination and (z) any Realized Losses or VRR Realized Losses, as applicable, previously allocated to such Class of Certificates (or, in the case of a Class of Exchangeable Certificates, to all Classes of the of the Exchangeable Certificates (collectively)) as of such date of determination, is equal to or greater than (b) 25% of the remainder of (i) the initial Certificate Balance of such Class of Certificates (or, in the case of a Class of Exchangeable Certificates, the aggregate of the initial Certificate Balances of all of the Classes of the Exchangeable Certificates (collectively)) less (ii) any payments of principal (whether as principal some or all of prepayments or otherwise) previously distributed to the Holders of that Class of Certificates (or, in the case of a Class of Exchangeable Certificates, to all Classes of the of the Exchangeable Certificates (collectively)) as of such date of determination. For avoidance of doubt, if some or all of the Class V-1 Certificates are exchanged for either Class V-2 Certificates or Class V-3 Certificates, then all such Class V-2 Certificates or Class V-3 Certificates, as applicable, will be Non-Reduced Certificates if such portion (which may be all) of the Class V-1 Certificates that has been exchanged, if outstanding, would have been (or been part of) a Class of Non-Reduced Certificates.
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Non-Reduced Certificates. As of any date of determination, any Class of Principal Balance Certificates then outstanding for which (a)(1) the Initial Certificate Balance of such Class of Certificates minus (2) the sum (without duplication) of (x) the aggregate payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of such Class of Certificates as of such date of determination, (y) any Appraisal Reduction Amounts then allocated to such Class of Certificates as of such date of determination and (z) any Realized Losses or VRR Realized Losses, as applicable, previously allocated to such Class of Certificates as of such date of determination, is equal to or greater than (b) 25% of the remainder of (i) the Initial Certificate Balance of such Class of Certificates less (ii) any payments of principal (whether as principal prepayments or otherwise) previously distributed to the Holders of that Class of Certificates as of such date of determination.
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Related to Non-Reduced Certificates

  • Related Certificates For each interest in the Upper Tier REMIC, the Class of Certificates listed on the same row in the table entitled "Upper Tier REMIC" in the Preliminary Statement.

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

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

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

  • Subordinated Certificates As specified in the Preliminary Statement.

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

  • Class D Certificates “Class E Certificates,” “Class F Certificates,” “Class G Certificates,” “Class H Certificates,” “Class V Certificates” and “Class R Certificates” mean, in each such case, the Certificates designated as “Class A-1,” “Class A-2,” “Class A-SB,” “Class A-3,” “Class A-4,” “Class A-5,” “Class A-S,” “Class X-A,” “Class X-B,” “Class X-C,” “Class B,” “Class PST,” “Class C,” “Class D,” “Class E,” “Class F,” “Class G,” “Class H,” “Class V” and “Class R,” respectively, on the face thereof, in substantially the forms attached hereto as Exhibits A-1 to A-20.

  • Accretion Directed Certificates As specified in the Preliminary Statement.

  • Class Certificate Balance With respect to any Class and as to any date of determination, the aggregate of the Certificate Balances of all Certificates of such Class as of such date.

  • Group 2 Certificates As specified in the Preliminary Statement.

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

  • 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.

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

  • Class X-D Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-12 hereto.

  • Group 1 Certificates As specified in the Preliminary Statement.

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

  • Initial Class Certificate Balance As to each Class of Certificates, the Class Certificate Balance set forth in the Preliminary Statement.

  • Regular Certificates As specified in the Preliminary Statement.

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

  • Insured Certificates The Class A-1 Certificates.

  • Certificate Balance As to any Outstanding Certificate prior to the initial Distribution Date, the denomination thereof; and as to any such Outstanding Certificate subsequent to such initial Distribution Date, the denomination thereof multiplied by the then applicable Class Factor.

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