Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date in the Trust Fund has been designated as the "latest possible maturity date" for the REMIC I Regular Interests, REMIC II Regular Interests and the Certificates.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" by which the principal balance of each regular interest in each REMIC would be reduced to zero is December 25, 2034, which is the Distribution Date in the month following the last scheduled payment on any Mortgage Loan.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC I Regular Interest. (2) Calculated in accordance with the definition of "REMIC I Remittance Rate" herein. REMIC II -------- As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II". The Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the REMIC II Remittance Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC II Regular Interests (as defined herein). None of the REMIC II Regular Interests will be certificated.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" by which the principal balance of each regular interest in each REMIC would be reduced to zero is July 25, 2032.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date four months following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Class of Certificates that represents one or more of the "regular interests" in the Master REMIC.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the "latest possible maturity date" for the Certificates and the REMIC I Regular Interests is the Assumed Final Distribution Date, which is the Distribution Date in December 2040.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the thirteenth Distribution Date immediately following the maturity date for the Mortgage Loan with the latest possible maturity date has been designated as the "latest possible maturity date" for the Class P Certificates. (2) The Class P Certificates will receive 100% of amounts received in respect of the Class P Interest.
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Class of Certificates. (2) Calculated in accordance with the definition of "Pass-Through Rate" herein. (3) The Class PO Certificates are not entitled to distributions of interest. (4) Initial Notional Amount. As provided herein, the Class IO Certificates entitle the Holders thereof solely to distributions of interest accrued on the related Notional Amount of such Certificates. As of the Cut-off Date, the Original Group I Mortgage Loans had an aggregate Scheduled Principal Balance equal to $164,406,481, the Original Group II Mortgage Loans had an aggregate Scheduled Principal Balance equal to $62,315,902, the Original Group III Mortgage Loans had an aggregate Scheduled Principal Balance equal to $82,944,736, the Original Group IV Mortgage Loans had an aggregate Scheduled Principal Balance equal to $118,661,859 and the Original Group V Mortgage Loans had an aggregate Scheduled Principal Balance equal to $218,081,105. In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer and the Trustee agree as follows:
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC II Regular Interest. (2) Calculated in accordance with the definition of "REMIC II Pass-Through Rate" herein. (3) The Uncertificated REMIC II A-IO-1 Regular Interests and the REMIC II A-IO-2 Regular Interests will not have an Uncertificated Principal Balance. REMIC III As provided herein, the REMIC Administrator will make an election to treat the segregated pool of assets consisting of the REMIC I Regular Interests and REMIC II Regular Interests and certain other related assets (other than the Reserve Fund) subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated "REMIC III." The Class R-III Certificates will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions under federal income tax law. The following table irrevocably sets forth the designation, Pass-Through Rate, aggregate Initial Certificate Principal Balance, certain features, Maturity Date and initial ratings for each Class of Certificates comprising the interests representing "regular interests" in REMIC III and the Class R Certificates. The "latest possible maturity date" (determined solely for purposes of satisfying Treasury Regulation Section 1.860G-1(a)(4)(iii)) for each Class of Regular Certificates shall be the date set forth below. AGGREGATE INITIAL CERTIFICATE PRINCIPAL DESIGNATION TYPE PASS-THROUGH BALANCE FEATURES MATURITY DATE INITIAL RATINGS(7) S&P FITCH MOODY'S Adjustable Class A-I-1 Senior Rate $89,300,000.00 Senior July 25, 2024 AAA N/R Aaa Adjustable October 25,2031 Class A-I-2 Senior Rate $21,573,402.00 Senior AAA N/R Aaa November 25,2031 Class A-II Senior 8.50% $4,816,000.00 Senior AAA AAA N/R November 25,2031 Class A-III Senior 7.00% $32,460,000.00 Senior AAA AAA N/R November 25,2031 Class A-IV Senior 6.50% $53,367,000.00 Senior AAA AAA N/R November 25,2031 Class A-V Senior 6.00% $34,692,000.00 Senior AAA AAA N/R November 25,2031 Class A-VI Senior 8.50% $19,207,000.00 Senior AAA AAA N/R November 25,2031 Class A-VII Senior 7.00% $178,552,000.00 Senior AAA AAA N/R Class November 25,2031 A-VIII Senior 6.50% $144,828,000.00 Senior AAA AAA N/R November 25,2031 Class A-IX Senior 6.00% $23,826,000.00 Senior AAA AAA N/R Senior/Interest Class Var...
Solely for purposes of Section 1. 860G-1(a)(4)(iii) of the Treasury regulations, the "latest possible maturity date" of the Class A Certificates and the date by which the Class 1A Principal Balance and the Class 2A Principal Balance would be reduced to zero is February 25, 2027 which is the Remittance Date immediately following the latest scheduled maturity of any Mortgage Loan.
