Base Offering Circular Multifamily
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MX Security.............................. Any Ginnie Mae Guaranteed Grantor Trust Pass-Through
Security issued pursuant to the Ginnie Mae Multiclass Securities
Program in respect of an MX Class.
MX Standard Trust
Provisions..................................
With respect to each MX Trust, the standard trust provisions in
effect as of the date of the related MX Trust Agreement and
which are incorporated therein by reference.
MX Trust................................... A trust that is established to hold one or more REMIC Securities
and issue one or more Modifiable Securities and/or MX
Securities.
MX Trust Agreement ................ An agreement between the Sponsor and the Trustee that
identifies and establishes an MX Trust.
MX Trust Asset......................... As to any MX Trust, any Ginnie Mae REMIC Securities
conveyed thereto by the related Sponsor.
Net Certificate Rate................... For any Distribution Date as to any Ginnie Mae Multifamily
Certificate, the applicable Certificate Rate less the Trustee Fee
Rate, if any, for the related Series.
No Payment Residual Class ...... A Class that is designed to receive no distributions of principal
or interest.
Non-Sticky Jump Class............. A Class for which the principal distribution priorities change
temporarily upon the occurrence of one or more trigger events.
A Non-Sticky Jump Class jumps to its new priority on each
Distribution Date when the trigger condition is met and reverts
to its original priority (i.e., does not stick to the new priority)
on each Distribution Date when the trigger condition is not met.
Nonpermitted Transferee .......... Any Person that acquires an Ownership Interest in a Transfer
that is considered null and void by the Trustee under the Trust
Agreement.
Non-U.S. Person ....................... A Person other than a U.S. Person.
Notional Class ........................... A Class that does not have a Class Principal Balance (but rather
has a Class Notional Balance) and is entitled to payments of
interest only.
Offering Circular....................... In connection with each offering of Ginnie Mae REMIC
Securities, the Multifamily Base Offering Circular therefor and
the related Offering Circular Supplement. In connection with
each offering of Ginnie Mae Guaranteed Callable Pass-Through
Securities, the Offering Circular therefor.