Designation of Interests in REMIC. The Trustee shall elect that each of REMIC I, REMIC II, and REMIC III be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Mortgage Loans, the accounts (other than the Net WAC Reserve Fund and the Supplemental Interest Account), any REO Property, and any proceeds of the foregoing. The Supplemental Interest Trust and any assets thereof shall not be an asset of any REMIC formed hereby. The REMIC I Regular Interests shall constitute the assets of REMIC II. The REMIC II Regular Interests shall constitute the assets of REMIC III (the “Master REMIC”). The Class R Certificate represents ownership of the sole class of residual interest in each of the REMIC II and the Master REMIC. REMIC I: The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC I, each of which (other than the R-I interest) is hereby designated as a regular interest in REMIC I (the “REMIC I Regular Interests”): T1-A (5) (1) T1-F1 $ 4,805,500.00 (2) T1-V1 $ 4,805,500.00 (3) T1-F2 $ 12,215,000.00 (2) T1-V2 $ 12,215,000.00 (3) T1-F3 $ 13,985,500.00 (2) T1-V3 $ 13,985,500.00 (3) T1-F4 $ 15,699,000.00 (2) T1-V4 $ 15,699,000.00 (3) T1-F5 $ 17,164,500.00 (2) T1-V5 $ 17,164,500.00 (3) T1-F6 $ 18,062,000.00 (2) T1-V6 $ 18,062,000.00 (3) T1-F7 $ 18,696,000.00 (2) T1-V7 $ 18,696,000.00 (3) T1-F8 $ 19,042,000.00 (2) T1-V8 $ 19,042,000.00 (3) T1-F9 $ 18,248,500.00 (2) T1-V9 $ 18,248,500.00 (3) T1-F10 $ 17,475,500.00 (2) T1-V10 $ 17,475,500.00 (3) T1-F11 $ 16,735,000.00 (2) T1-V11 $ 16,735,000.00 (3) T1-F12 $ 16,026,500.00 (2) T1-V12 $ 16,026,500.00 (3) T1-F13 $ 15,348,500.00 (2) T1-V13 $ 15,348,500.00 (3) T1-F14 $ 14,698,500.00 (2) T1-V14 $ 14,698,500.00 (3) T1-F15 $ 14,077,500.00 (2) T1-V15 $ 14,077,500.00 (3) T1-F16 $ 13,481,500.00 (2) T1-V16 $ 13,481,500.00 (3) T1-F17 $ 13,584,500.00 (2) T1-V17 $ 13,584,500.00 (3) T1-F18 $ 28,835,000.00 (2) T1-V18 $ 28,835,000.00 (3) T1-F19 $ 32,180,500.00 (2) T1-V19 $ 32,180,500.00 (3) T1-F20 $ 86,618,500.00 (2) T1-V20 $ 86,618,500.00 (3) T1-F21 $ 12,007,000.00 (2) T1-V21 $ 12,007,000.00 (3) T1-F22 $ 10,196,500.00 (2) T1-V22 $ 10,196,500.00 (3) T1-F23 $ 8,763,000.00 (2) T1-V23 $ 8,763,000.00 (3) T1-F24 $ 5,195,500.00 (2) T1-V24 $ 5,195,500.00 (3) T1-F25 $ 4,866,000.00 (2) T1-V25 $ 4,866,000.00 (3) T...
Designation of Interests in REMIC. (a) Designation of Interests in REMIC The Master Servicer shall elect that each of REMIC I, REMIC II and REMIC III be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Mortgage Loans, the accounts (other than the Net WAC Reserve Fund, the Swap Agreement and the Supplemental Interest Account), any REO Property, and any proceeds of the foregoing. The REMIC I Regular Interests shall constitute the assets of REMIC II. The REMIC II Regular Interests shall constitute the assets of REMIC III (the “Master REMIC”). REMIC I: The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC I, each of which (other than the R-I interest) is hereby designated as a regular interest in REMIC I (the “REMIC I Regular Interests”): T1-A $ 0.55 (1) T1-F1 $ 8,004,924.00 (2) T1-V1 $ 8,004,924.00 (3) T1-F2 $ 9,977,840.50 (2) T1-V2 $ 9,977,840.50 (3) T1-F3 $ 11,939,322.50 (2) T1-V3 $ 11,939,322.50 (3) T1-F4 $ 13,873,423.50 (2) T1-V4 $ 13,873,423.50 (3) T1-F5 $ 15,763,672.00 (2) T1-V5 $ 15,763,672.00 (3) T1-F6 $ 17,593,254.50 (2) T1-V6 $ 17,593,254.50 (3) T1-F7 $ 19,345,206.00 (2) T1-V7 $ 19,345,206.00 (3) T1-F8 $ 21,002,631.00 (2) T1-V8 $ 21,002,631.00 (3) T1-F9 $ 22,548,927.50 (2) T1-V9 $ 22,548,927.50 (3) T1-F10 $ 23,965,883.00 (2) T1-V10 $ 23,965,883.00 (3) T1-F11 $ 23,117,112.00 (2) T1-V11 $ 23,117,112.00 (3) T1-F12 $ 22,123,993.00 (2) T1-V12 $ 22,123,993.00 (3) T1-F13 $ 21,173,788.50 (2) T1-V13 $ 21,173,788.50 (3) T1-F14 $ 20,264,634.50 (2) T1-V14 $ 20,264,634.50 (3) T1-F15 $ 19,394,748.50 (2) T1-V15 $ 19,394,748.50 (3) T1-F16 $ 18,562,424.00 (2) T1-V16 $ 18,562,424.00 (3) T1-F17 $ 17,766,033.00 (2) T1-V17 $ 17,766,033.00 (3) T1-F18 $ 17,004,014.00 (2) T1-V18 $ 17,004,014.00 (3) T1-F19 $ 16,274,876.00 (2) T1-V19 $ 16,274,876.00 (3) T1-F20 $ 15,577,194.00 (2) T1-V20 $ 15,577,194.00 (3) T1-F21 $ 14,909,602.00 (2) T1-V21 $ 14,909,602.00 (3) T1-F22 $ 210,260,687.50 (2) T1-V22 $ 210,260,687.50 (3) T1-F23 $ 22,301,576.50 (2) T1-V23 $ 22,301,576.50 (3) T1-F24 $ 5,962,632.00 (2) T1-V24 $ 5,962,632.00 (3) T1-F25 $ 5,439,414.00 (2) T1-V25 $ 5,439,414.00 (3) T1-F26 $ 4,972,125.50 (2) T1-V26 $ 4,972,125.50 (3) T1-F27 $ 3,736,052.50 (2) T1-V27 $ 3,736,052.50 (3) T1-F28 $ 3,292,538.00 (2) T1-V28 $ 3,292,538.00 (3) T1-F29 $ 3...
Designation of Interests in REMIC. The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV and REMIC V be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group 1 Mortgage Loans, the accounts relating to Group 1 (other than the Group 1 Net WAC Reserve Fund and the Class AF-1A Reserve Fund), any REO Property relating to Group 1, and any proceeds of the foregoing. The assets of REMIC III shall include the Group 2 Mortgage Loans, the accounts relating to Group 2 (other than the Group 2 Net WAC Reserve Fund), any REO Property relating to Group 2, and any proceeds of the foregoing. The Supplemental Interest Trust and any assets thereof shall not be an asset of any REMIC formed hereby. The REMIC I Regular Interests shall constitute the assets of REMIC II (the “Master REMIC 1”). The REMIC III Regular Interests shall constitute the assets of REMIC IV. The REMIC IV Regular Interests shall constitute the assets of REMIC V (the “Master REMIC 2”). The Class R-1 Certificate represents ownership of the sole class of residual interest in REMIC II. The Class R-2 Certificate represents ownership of the sole class of residual interest in each of the REMIC IV and the REMIC V. REMIC I: The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC I, each of which (other than the R-I interest) is hereby designated as a regular interest in REMIC I (the “REMIC I Regular Interests”): T1-AF1A (1) ½ Corresponding Class balance AF-1A T1-AF1B (1) ½ Corresponding Class balance AF-1B T1-AF2 (1) ½ Corresponding Class balance AF-2 T1-AF3 (1) ½ Corresponding Class balance AF-3 T1-AF4 (1) ½ Corresponding Class balance AF-4 T1-AF5 (1) ½ Corresponding Class balance AF-5 T1-AF6 (1) ½ Corresponding Class balance AF-6 T1-MF1 (1) ½ Corresponding Class balance MF-1 T1-MF2 (1) ½ Corresponding Class balance MF-2 T1-MF3 (1) ½ Corresponding Class balance MF-3 T1-MF4 (1) ½ Corresponding Class balance MF-4 T1-MF5 (1) ½ Corresponding Class balance MF-5 T1-MF6 (1) ½ Corresponding Class balance MF-6 T1-MF7 (1) ½ Corresponding Class balance MF-7 T1-MF8 (1) ½ Corresponding Class balance MF-8 T1-MF9 (1) ½ Corresponding Class balance MF-9 T1-Accrual-1 (1) (2) N/A R-I (3) (3) N/A ___________________________
(1) For any Distribution Date (and the related In...
Designation of Interests in REMIC. (a) For Federal tax purposes, the Trust will consist of REMIC I and REMIC II. REMIC I will be evidenced by (x) uncertificated and non-transferable interests described below (the "REMIC I Regular Interests") which are hereby designated as the "regular interests" in REMIC I, and (y) the Class R-1 Certificates, which shall have a principal balance of zero and an interest rate of 0% and which are hereby designated as the single "residual interest" in REMIC I. The Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 1 described below in an amount equal to 132% of such amounts distributed to the Class A-6F Certificates pursuant to Section 5.01(b) herein, and any remaining Basic Principal Amount and Excess Funding Amount from Loan Group F will be used to pay principal on the Class 2 described below. The Basic Principal Amount and Excess Funding Amount from Loan Group A will be used to pay principal on the Class 3 described below. The Interest Remittance Amount for Loan Group F will be used, first, to pay principal on the Class 1 in amount equal to 132% of the amount allocated to the Class A-6F Certificates pursuant to Section 5.01(a)A.(iv) (the "A-6F Turbo"), second, to pay interest to Class 1 and third, to pay any remaining Interest Remittance Amount from Loan Group F as interest to Class 2. An amount equal to 132% of the A-6F Turbo will be added (as accrued interest) to the principal balance of Class 2. The Interest Remittance Amount from Loan Group A will be used to pay interest on the Class 3. All Realized Losses on Loan Group F will be allocated first, to Class 2 and second, to Class 1, and all Realized Losses on Loan Group A will be allocated to Class 3. The REMIC I Regular Interests will have the following designations and pass-through rates, and distributions of principal and interest thereon shall be allocated to the corresponding Classes of Certificates (the "Corresponding Classes") in the following manner: Corresponding Class of Certificates(1) -------------------------------- REMIC I Allocation Allocation Regular Interests Initial Balance Pass-Through of of Rate Principal Interest 1 $ 47,520,000 (2) (3) (4) 2 $312,480,000 (2) (3) (5) 3 $ 85,000,000 (6) (3) (5)
(1) Except as otherwise indicated, the amount of principal and interest allocable from a REMIC I Regular Interest to its Corresponding Class of Certificates on any Distribution Date shall be 100%. Available funds, if any, remaining in REMI...
Designation of Interests in REMIC. (a) Designation of Interests in REMIC. The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV and REMIC V be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Mortgage Loans, the accounts (other than the Net WAC Reserve Fund), any REO Property, and any proceeds of the foregoing. The REMIC I Regular Interests shall constitute the assets of REMIC II. The REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The REMIC IV Regular Interests shall constitute the assets of REMIC V (the “Master REMIC”). REMIC I: The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC I, each of which (other than the R-I interest) is hereby designated as a regular interest in REMIC I (the “REMIC I Regular Interests”): T1-A-SG1 (1) (2) N/A N/A N/A T1-A-SG2 (3) (4) N/A N/A N/A
Designation of Interests in REMIC. (a) The Regular Certificates are hereby designated as the "regular interests" and the Residual Certificates are hereby designated as the single "residual interest" in the REMIC for purposes of the REMIC Provisions.
(b) The Holder of the Residual Certificate is hereby designated as "tax matters person" with respect to the REMIC for purposes of the REMIC Provisions.
Designation of Interests in REMIC. The Preliminary Statement sets forth the designations for federal income tax purposes of all interests created hereby.
Designation of Interests in REMIC. The Class R Certificates are hereby designated as the single class of “residual interests” in the REMIC Trust for purposes of the REMIC Provisions. The Class A Certificates, exclusive of the rights of the Class A-2 Certificateholders to receive payments in respect of the Class A-2 Available Funds Cap Carryforward and payments from the Basis Risk Reserve Fund, are hereby designated as “regular interests” in the REMIC Trust for purposes of the REMIC Provisions.
Designation of Interests in REMIC. The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV and REMIC V shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Mortgage Loans, the accounts (other than the Net WAC Fund and the Pre-Funding Account), any REO Property, and any proceeds of the foregoing. The REMIC I Regular Interests shall constitute the assets of REMIC II. The REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The REMIC IV Regular Interests shall constitute the assets of REMIC V.
Designation of Interests in REMIC. (a) Designation of Interests in REMIC The Master Servicer shall elect that each of REMIC I, REMIC II and REMIC III be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Mortgage Loans, the accounts (other than the Net WAC Reserve Fund, the Swap Agreement and the Supplemental Interest Account), any REO Property, and any proceeds of the foregoing. The REMIC I Regular Interests shall constitute the assets of REMIC II. The REMIC II Regular Interests shall constitute the assets of REMIC III (the “Master REMIC”). REMIC I: The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC I, each of which (other than the R-I interest) is hereby designated as a regular interest in REMIC I (the “REMIC I Regular Interests”):
(1) The interest rate with respect to any Distribution Date (and the related Interest Accrual Period) for the [___] Interest is a per annum rate equal to the weighted average of the Net Mortgage Rate of all the Mortgage Loans as of the first day of the related Due Period, weighted on their outstanding principal balances of such day and adjusted (a) to take into account any prepayments of principal occurring after such day that were distributed in the prior calendar month and (b) to take into account the [___] Premium (the “REMIC Net WAC Rate”).
(2) The interest rate with respect to any Distribution Date (and the related Interest Accrual Period) for each of these interests is a per annum rate equal to the lesser of (i) [___]%, and (ii) the product of (a) the REMIC Net WAC Rate and (b) 2.
(3) For any Distribution Date (and the related Interest Accrual Period) the interest rate for each of these Lower Tier Interests shall be the excess, if any, of (i) the product of (a) the REMIC Net WAC Rate and (b) 2, over (ii) [___]%.
(4) The [___] interest shall not have a principal balance and shall not bear interest. The [___] interest is hereby designated as the sole class of residual interest in REMIC I.
(5) This interest shall also be entitled to all Prepayment Premiums received in respect of the Mortgage Loans. On the Business Day prior to each Distribution Date, all Realized Losses and all payments of principal shall be allocated in the following order of priority:
(i) First, to the [___] int...
