Examples of Underlying REMIC Certificates in a sentence
The Underlying REMIC Certificates shall be issued in uncertificated form to the Underwriter and transferred by the Underwriter to the Exchange Trustee to be held in trust pursuant to terms of the Exchange Trust Agreement.
Upon the presentation and surrender by any Holder of its Exchange Certificates, such Holder shall hereunder transfer, assign, set over and otherwise convey to the Trustee, all of such Holder’s right, title and interest in and to the Underlying REMIC Certificates, including all payments of interest thereon received after the month of the Issue Date.
In the event that there shall be any matter arising under the Underlying Trust Agreement that requires the vote of Holders of Certificates outstanding thereunder, the Trustee as the holder of the related Underlying REMIC Certificates shall vote such Underlying REMIC Certificates in such amounts and proportions as shall reflect instructions received from Holders of Certificates of the related Class or Classes.
U.S. Bank, acting in its capacity as Trustee, acknowledges the transfer and assignment to it of the Underlying REMIC Certificates and hereby declares that it will hold the same in trust for the Certificateholders on the terms in this Trust Agreement contained.
The Securities Administrator shall deposit in the Trust Account all distributions in respect of the Underlying REMIC Certificates received by it as Securities Administrator hereunder.