Base Offering Circular - Multifamily
482090
59
Amount), such amount with respect to the specified
Accrual Class or Partial Accrual Class.
Accrual Class .............................
A Class on which interest accrues during any Accrual
Period and (a) the accrued interest is added to its principal
amount on each Distribution Date and (b) is not
distributable as interest thereon until a later date or the
occurrence of a specified future event, if ever.
Accrual Period............................
Unless otherwise provided in the applicable Trust
Agreement, the Accrual Period relating to any Distribution
Date will be (a) for Fixed Rate, Variable Rate and Delay
Classes, the calendar month preceding the month of the
Distribution Date or (b) for Floating Rate and Inverse
Floating Rate Classes that are not Delay Classes, the period
from the 16th day of the month preceding the month of the
Distribution Date through the 15th day of the month of the
Distribution Date.
Accrual Security.........................
A Security of an Accrual Class.
Adjusted Certificate Factor ........
With respect to each Ginnie Mae Multifamily Certificate for
which Excess Payments have been deposited in the Excess
Payment Account on a Distribution Date, an adjusted
certificate factor calculated by the Trustee on or promptly
after the Distribution Date and reflecting the receipt of the
principal portion of such Excess Payments.
Adjusted Class Factor ................
With respect to each Class, a number truncated to eight
decimal places calculated by the Trustee and published or
otherwise made available to investors on or about one
Business Day preceding each Special Excess Distribution
Date that, when multiplied by the Original Class Principal
Balance (or original Class Notional Balance) of that Class,
determines the Class Principal Balance (or Class Notional
Balance), after giving effect to any distribution of principal
to be made on the Securities on that Special Excess
Distribution Date.
Affiliate ......................................
With respect to any specified Person, any other Person
controlling or controlled by or under common control with
such specified Person. For the purposes of this definition,
control when used with respect to any specified Person
means the power to direct the management and policies of
such Person, directly or indirectly, whether through the
ownership of voting securities (including, without