ST Group definition
Examples of ST Group in a sentence
Except as otherwise specifically set forth in any Ancillary Agreement, from and after the Effective Time, (i) IMS shall, and shall cause each member of the IMS Group to, assume, pay, perform and discharge all IMS Liabilities and (ii) ST shall, and shall cause each member of the ST Group to, assume, pay, perform and discharge all ST Liabilities.
The parties hereto recognize that legal and other professional services that have been and will be provided prior to the Distribution Date have been and will be rendered for the benefit of each of IMS, the members of the IMS Group and the members of the ST Group, and that each of IMS, the members of the IMS Group and the members of the ST Group should be deemed to be the client for the purposes of asserting all privileges which may be asserted under applicable law.
Prior to the Distribution Date, each of IMS and ST shall enter into, and/or (where applicable) shall cause members of the IMS Group or the ST Group, as applicable, to enter into, the Ancillary Agreements and any other agreements in respect of the Distribution reasonably necessary or appropriate in connection with the transactions contemplated hereby and thereby.
In order to effect such business transfers certain cash payments will be made between members of the IMS Group and members of the ST Group to either fund payments for such business transfers or to effect such business transfers.
All payments of scheduled principal and prepayments of principal generated by the Group 1 and Group 2 Mortgage Loans shall be allocated 50% to the ST Group 1 and Group 2-Accrual Interest, and 50% to the Subsidiary Group 1 and Group 2 REMIC Accretion Directed Classes to each such Class in an amount equal to 1/2 of the amounts paid in reduction of the principal balance of the Corresponding Class of Intermediate REMIC Interest, until paid in full.
Notwithstanding the above, principal payments allocated to the Class X-F Certificates that result in the reduction in the Overcollateralization Amount shall be allocated to the ST Group 3-Accrual Interest (until paid in full).
All payments of scheduled principal and prepayments of principal generated by the Group 3 Mortgage Loans shall be allocated 50% to the ST Group 3-Accrual Interest, and 50% to the Subsidiary Group 3 REMIC Accretion Directed Classes to each such Class in an amount equal to 1/2 of the amount paid in reduction of the principal balance of the Corresponding Class of Master REMIC Interest, until paid in full.
ST shall have the right to review any such amended Tax Return and shall be required to sign and file any such amended Tax Return unless it reasonably determines that the filing of such amended Tax Return would create a substantial risk of a material increase in the Taxes payable by the ST Group or any member thereof for any taxable period beginning on or after the Distribution Date.
Realized losses shall be applied so that after all distributions have been made on each Distribution Date (i) the principal balances of each of the Subsidiary Group 1 and Group 2 REMIC Accretion Directed Classes is equal to 50% of the principal balance of their Corresponding Class, and (ii) the ST Group 1 and Group 2-Accrual Interest is equal to 50% of the Aggregate Loan Group Collateral Balance of Loan Group 1 and Loan Group 2 plus 50% of the Overcollateralization Amount.
On each Distribution Date, the increase in the principal balance of the ST Group 1 and Group 2-Accrual REMIC Interest may not exceed interest accruals for such Distribution Date for the ST Group 1 and Group 2-Accrual REMIC Interest.