Base Offering Circular Multifamily
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Pooling REMIC......................... In the case of a REMIC Series in respect of multiple Trust
REMICs (including a Double REMIC Series), a Trust REMIC
that holds assets specified in the Trust Agreement, and issues
Pooling REMIC Regular Interests.
Pooling REMIC Interest............ Each of the Pooling REMIC Regular Interests and each Pooling
REMIC Residual Interest.
Pooling REMIC Regular
Interest....................................... Each of the Regular Interests in a Pooling REMIC.
Pooling REMIC Residual
Interest....................................... The Residual Interest in a Pooling REMIC.
Pooling REMIC
Subaccounts ..............................
In the case of a Double REMIC Series, the accounts established
by the Trustee for tax purposes that represent the Pooling
REMIC Regular Interests.
Prepayment Penalty................... With respect to any Mortgage Loan, a fee, equal to a specified
percentage of the principal amount of the Mortgage Loan, that is
required by the terms of the Mortgage Loan to be paid in
connection with voluntary and certain involuntary prepayments.
Prepayment Penalty End
Date ...........................................
With respect to any Mortgage Loan, the date as of which any
such Mortgage Loan would no longer be subject to the payment
of any Prepayment Penalties.
Prime Rate................................. With respect to the Securities of any Series, the prime lending
rate of major banks as published in The Wall Street Journal or, if
not available from The Wall Street Journal, as determined by the
Trustee in accordance with the Trust Agreement.
Prime Rate Class ....................... A Class bearing interest at a rate determined by reference to the
Prime Rate.
Principal Distribution
Amount......................................
With respect to each Series (or if the Series is segregated into
Security Groups, each Security Group) and each Distribution
Date, the sum of (I) with respect to each Ginnie Mae
Multifamily Certificate (other than any Ginnie Mae Project Loan
Certificate issued as a result of a conversion of the Ginnie Mae
Construction Loan Certificate since the preceding Distribution
Date), the amount by which (a) the product of (i) the original
principal amount of that Ginnie Mae Multifamily Certificate and
(ii) the Certificate Factor, Corrected Certificate Factor or
Calculated Certificate Factor, as applicable, for the preceding
Distribution Date exceeds (b) the product of (i) the original
principal amount of the Ginnie Mae Multifamily Certificate and
(ii) the Certificate Factor, Corrected Certificate Factor or