Common use of Designation of Interests in the REMICs Clause in Contracts

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-6 Trust), Pooling and Servicing Agreement (Banc of America Funding 2007-a Trust)

AutoNDA by SimpleDocs

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated MiddleLower-Tier Regular Interests as classes of "regular interests" and the Class MR LR Interest as the single class of "residual interest" in the MiddleLower-Tier REMIC for the purpose purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively, respectively and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-J Trust)

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp)

Designation of Interests in the REMICs. The Depositor hereby designates the UpperClasses of Senior Certificates (other than the Class 1-Tier Regular Interests A-R Certificate) and the Classes of Class B Certificates as "regular interests" and the Class UR R-U Interest as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR R-M Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR R-L Interest as the single class of "residual interest" in the Lower-Tier Xxxr REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2006-B Trust)

Designation of Interests in the REMICs. The Depositor hereby designates the UpperClasses of Senior Certificates (other than the Class 1-Tier Regular Interests A-R Certificate) and the Classes of Subordinate Certificates as "regular interests" and the Class UR R-U Interest as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR R-M Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR R-L Interest as the single class of "residual interest" in the Lower-Tier Xxxr REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Mortgage Securities Inc)

AutoNDA by SimpleDocs

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class class MR Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-8t2 Trust)

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-E Trust)

Designation of Interests in the REMICs. The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Section Sections 860G(a)(1) and 860G(a)(2), respectively. The Depositor hereby further designates (i) the Uncertificated Middle-Tier Regular Interests as classes of "regular interests" and the Class MR Interest as the single class of "residual interest" in the Middle-Tier REMIC for the purpose purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively, and (ii) the Uncertificated Lower-Tier Regular Interests as classes of "regular interests" and the Class LR Interest as the single class of "residual interest" in the Lower-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively.of

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-5 Trust)

Time is Money Join Law Insider Premium to draft better contracts faster.