Base Offering Circular Multifamily
89
Underlying Trust ....................... As to any Underlying Series, the related segregated Trust.
U.S. Person................................ A Person that is (i) a citizen or resident of the United States; (ii)
a corporation that is organized under the laws of the United
States, any state thereof or the District of Columbia, including an
entity treated as a corporation for federal income tax purposes;
(iii) a partnership, including any entity treated as a partnership
for federal income tax purposes (other than a partnership that is
not treated as a United States person under any applicable
Treasury regulation) organized under the laws of the United
States, any state thereof, or the District of Columbia none of the
interests of which are owned, directly or indirectly through one
or more pass through entities, by any person that is not a U.S.
Person within the meaning of this paragraph; (iv) an estate that is
subject to United States federal income taxation regardless of the
source of its income; (v) a trust if a court within the United
States is able to exercise primary supervision over the
administration of such trust and one or more United States
persons have the authority to control all substantial decisions of
the trust (or to the extent provided in the applicable Treasury
regulations, certain trusts in existence on August 20, 1996, that
are eligible to be treated as United States persons); or (vi) a
foreign person who would be subject to United States income
taxation on a net basis on income derived from the Residual
Securities.
Variable Rate Class................... A Class with an Interest Rate that varies on a basis other than an
index.
Voting Rights ............................ The voting rights of the Securities.
WAC or Weighted Average
Certificate Rate..........................
For any Distribution Date, the per annum rate of interest equal to
the average, expressed as a percentage, of the Certificate Rates
of some or all Trust MBS in a Series or designated Trust Asset
Group or Groups, weighted on the basis of the respective current
principal balances of such Trust MBS immediately following the
applicable Ginnie Mae Certificate Payment Date in the month
preceding the month of that Distribution Date. Such average
interest rate may be subject to certain additions, subtractions,
multiples, caps, floors and governors.
Weighted Average Coupon
Class ..........................................
A Class whose Interest Rate is based on a Weighted Average
Certificate Rate or Weighted Average Coupon Rate, as described
in the related Offering Circular Supplement.