M-1, M-2 and M-3 financial definition of M-1, M-2 and M-3
M-1, M-2 and M-3
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75% subordination provided by classes M-1, M-2 and M-3
, monthly excess interest and target overcollateralization (OC) of 0.
Prior to the stepdown date or if a trigger event is in effect, principal will be distributed to the class IF-1 and class IIA-1 until the certificate principal balances have been reduced to zero, and then sequentially to the class M-1, M-2 and M-3
Interest and then principal will be paid sequentially first to the class A certificates, then to the M-1, M-2 and M-3