Regular Interests. Pooling-Tier REMIC-1 shall hold as assets the assets of the Trust Fund (exclusive of (i) the Prepayment Premiums, (ii) the Swap Assets, (iii) the Excess Reserve Fund Account, and (iv) the right of the Offered Certificates to receive Upper-Tier CarryForward Amounts including, but without duplication, Basis Risk CarryForward Amounts and the obligation to pay Class IO Shortfalls). For federal income tax purposes, each Class of Offered Certificates represents a beneficial ownership of a regular interest in the Upper-Tier REMIC, the right to receive Upper-Tier CarryForward Amounts (including, but without duplication, Basis Risk CarryForward Amounts), and the obligation to pay Class IO Shortfalls; the Class X Certificates represent beneficial ownership of the Class X Interest, the Class IO Interest, the Interest Rate Swap Agreement, the Swap Account, the Excess Reserve Fund Account and the right to receive Class IO Shortfalls, subject to the obligation to pay Upper-Tier CarryForward Amounts (including, but without duplication, Basis Risk CarryForward Amounts); and the Class P Certificates represent beneficial ownership of the Prepayment Premiums, which portions of the Trust Fund shall be treated as a grantor trust. Pooling-Tier REMIC-1 Pooling-Tier REMIC-1 shall issue the following interests in Pooling-Tier REMIC-1, and each such interest, other than the Class PT1-R Interest is hereby designated as a regular interest in the Pooling-Tier REMIC-1. Pooling-Tier REMIC-1 Interests with an "I" in their designation shall relate to Loan Group I and Pooling Tier REMIC-1 Interests with a "II" in their designation shall relate to Loan Group II. Pooling-Tier REMIC-1 shall also issue the Class PT1-R Interest, which is hereby designated as the sole class of residual interest in Pooling-Tier REMIC-1. The Class PT1-R Interest shall be represented by the Class R Certificates, shall not have a principal balance and shall have no interest rate. Pooling-Tier REMIC-1 Initial Pooling-Tier REMIC-1 Pooling-Tier REMIC-1 Interest Interest Rate Principal Amount ------------------------------- -------------------- ---------------------------- Class PT1-I-1 (1) $ 21,923,060.51 Class PT1-I-2A (2) $ 18,231,751.88 Class PT1-I-2B (3) $ 18,231,751.88 Class PT1-I-3A (2) $ 9,887,132.83 Class PT1-I-3B (3) $ 9,887,132.83 Class PT1-I-4A (2) $ 9,509,304.53 Class PT1-I-4B (3) $ 9,509,304.53 Class PT1-I-5A (2) $ 9,151,924.20 Class PT1-I-5B (3) $ 9,151,924.20 Class PT1-I-6A (2) $ 8,825,694.08 Class PT1-I...
Regular Interests. Pooling-Tier REMIC-1 shall hold as assets the assets of the Trust Fund (exclusive of (i) the Prepayment Premiums, (ii) the Swap Assets and the Interest Rate Cap Agreement, (iii) the Excess Reserve Fund Account, and (iv) the right of the Offered Certificates to receive Basis Risk CarryForward Amounts and, without duplication, Upper-Tier CarryForward Amounts and the obligation to pay Class IO Shortfalls). For federal income tax purposes, each Class of Offered Certificates represents a beneficial ownership of a regular interest in the Upper-Tier REMIC, the right to receive Basis Risk CarryForward Amounts and without duplication, Upper-Tier CarryForward Amounts, and the obligation to pay Class IO Shortfalls; the Class X Certificates represent beneficial ownership of the Class X Interest, the Class IO Interest, the Interest Rate Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Excess Reserve Fund Account and the right to receive Class IO Shortfalls, subject to the obligation to pay Basis Risk CarryForward Amounts and, without duplication, Upper-Tier CarryForward Amounts; and the Class P Certificates represent beneficial ownership of the Prepayment Premiums, which portions of the Trust Fund shall be treated as a grantor trust under subpart E, Part I of subchapter J of the Code (the "Grantor Trust").
Regular Interests. Pooling-Tier REMIC-1 shall hold as assets the assets of the Trust Fund (exclusive of (i) the Prepayment Premiums, (ii) the Interest Rate Swap Agreement and the Interest Rate Cap Agreement, (iii) the Supplemental Interest Trust, (iv) the Excess Reserve Fund Account and (v) the right of the LIBOR Certificates to receive Basis Risk Carry Forward Amounts and, without duplication, Upper-Tier Carry Forward Amounts and the obligation to pay Class IO Shortfalls). Each such Lower Tier Regular Interest is hereby designated as a regular interest in the Lower Tier REMIC. The Class LT-A-1, Class LT-A-2A, Class LT-A-2B, Class LT-A-2C, Class LT-A-2D, Class LT-M-1, Class LT-M-2, Class LT-M-3, Class LT-M-4, Class LT-M-5, Class LT-M-6, Class LT-M-7, Class LT-M-8, Class LT-M-9, Class LT-B-1 and Class LT-B-2 Interests are hereby designated the LT-Accretion Directed Classes (the "LT-Accretion Directed Classes").
Regular Interests. Pooling-Tier REMIC-1 shall hold as assets the assets of the Trust Fund (exclusive of (i) the Prepayment Premiums, (ii) the Interest Rate Swap Agreement, (iii) the Supplemental Interest Trust, (iv) the Excess Reserve Fund Account, and (v) the right of the Principal Certificates to receive Upper-Tier Carry Forward Amounts and, without duplication, Basis Risk Carry Forward Amounts and the obligation to pay Class IO Shortfalls). For federal income tax purposes, each Class of Principal Certificates represents a beneficial ownership of a regular interest in the Upper-Tier REMIC, the right to receive Upper-Tier Carry Forward Amounts (and, without duplication, Basis Risk Carry Forward Amounts), and the obligation to pay Class IO Shortfalls, the Class X Certificates represent beneficial ownership of the Class X Regular Interest, the Interest Rate Swap Agreement, the Supplemental Interest Trust, the Excess Reserve Fund Account and the right to receive Class IO Shortfalls, and the Class P Certificates represent beneficial ownership of the Prepayment Premiums, which portions of the Trust Fund shall be treated as a grantor trust. Pooling-Tier REMIC-1 Pooling-Tier REMIC-1 shall issue the following interests in Pooling-Tier REMIC-1, and each such interest is hereby designated as a regular interest in the Pooling-Tier REMIC-1. Pooling-Tier REMIC-1 shall also issue the Class R-2 Certificates. The Class R-2 Certificates are hereby designated as the sole class of residual interest in Pooling-Tier REMIC-1. The Class R-2 Certificates shall have a $100 Class Certificate Balance and shall have no interest rate. Initial Pooling-Tier Pooling-Tier REMIC-1 Pooling-Tier REMIC-1 REMIC-1 Principal Interest Interest Rate Amount -------------------- -------------------- -------------------- Class PT1-1 (1) $ 607,611,047.65 Class PT1-2A (2) $ 703,992.15 Class PT1-2B (3) $ 703,992.15 Class PT1-3A (2) $ 810,810.81 Class PT1-3B (3) $ 810,810.81 Class PT1-4A (2) $ 915,244.15 Class PT1-4B (2) $ 915,244.15 Class PT1-5A (2) $ 1,013,526.37 Class PT1-5B (3) $ 1,013,526.37 Class PT1-6A (2) $ 1,116,890.75 Class PT1-6B (3) $ 1,116,890.75 Class PT1-7A (2) $ 1,206,577.87 Class PT1-7B (3) $ 1,206,577.87 Class PT1-8A (2) $ 1,293,844.33 Class PT1-8B (3) $ 1,293,844.33 Class PT1-9A (2) $ 1,374,545.47 Class PT1-9B (3) $ 1,374,545.47 Class PT1-10A (2) $ 1,406,927.54 Class PT1-10B (3) $ 1,406,927.54 Class PT1-11A (2) $ 1,356,926.64 Class PT1-11B (3) $ 1,356,926.64 Class PT1-12A (2) $ 1,306,650.43 Class PT1-12...
Regular Interests. 45 REMIC ..........................................................................................45
Regular Interests. REMIC 1 Regular Interest LTI-1, LTI-PF, LTI-P, LTI-S and LTI-R.
Regular Interests. Pooling-Tier REMIC-1 shall hold as assets the assets of the Trust Fund (exclusive of (i) the Prepayment Premiums, (ii) the Interest Rate Swap Agreement, (iii) the Supplemental Interest Trust, (iv) the Excess Reserve Fund Account, and (v) the right of the LIBOR Certificates to receive Upper-Tier Carry Forward Amounts and, without duplication, Basis Risk Carry Forward Amounts and the obligation to pay Class IO Shortfalls). For federal income tax purposes, each Class of LIBOR Certificates, the Class X Certificates and the Class P Certificates represent beneficial ownership of portions of the Trust Fund which shall be treated as a grantor trust as more fully described in Section 8.11.
Regular Interests. REMIC II Initial Uncertificated Designation Remittance Rate Principal Balance ------------------------------------------------------------------------------- A-1 7.233% $203,500,000 ------------------------------------------------------------------------------- A-2 7.233% 547,759,000 ------------------------------------------------------------------------------- B 7.233% 52,906,000 ------------------------------------------------------------------------------- C 7.233% 52,905,000 ------------------------------------------------------------------------------- D 7.233% 58,196,000 ------------------------------------------------------------------------------- E 7.233% 21,163,000 ------------------------------------------------------------------------------- ------------------------------------------------------------------------------- F 7.233% 23,807,000 ------------------------------------------------------------------------------- G 7.233% 18,517,000 ------------------------------------------------------------------------------- H 7.233% 10,581,000 ------------------------------------------------------------------------------- J 7.233% 21,162,000 ------------------------------------------------------------------------------- K 7.233% 10,582,000 ------------------------------------------------------------------------------- L 7.233% 15,871,000 ------------------------------------------------------------------------------- M 7.233% 10,581,000 ------------------------------------------------------------------------------- N 7.233% 10,581,956 ------------------------------------------------------------------------------- REMIC III As provided herein, the Trustee will make the election described in Section 12.1 for the segregated pool of assets hereof consisting of the REMIC II Regular Interests to be treated for federal income tax purposes as a separate REMIC (such particular pool of assets, "REMIC III"). The REMIC III Regular Certificates (and, in the case of the Class N Certificates, the Class N REMIC Interest represented by the Class N Certificates) will be designated as representing the "regular interests" in REMIC III and the Class R-III Certificates will be designated as representing the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions. Fifteen separate Classes of REMIC III Regular Certificates will be issued. The following table irrevocably sets forth the designation, the pass-through rate (the "PASS-THROUGH RATE") an...
Regular Interests. 56 TABLE OF CONTENTS (CONTINUED) PAGE REMIC...........................................................................................................57
Regular Interests. Each REMIC I-1 Regular Interest is hereby designated as a regular interest in REMIC I-1. REMIC I-1 shall hold as assets all property of the Trust Fund relating to Mortgage Group I other than the REMIC I-1 Interests, the REMIC I-2 Interests, the REMIC I-3 Interests, the REMIC I-4 Regular Interests, the REMIC I-4 Residual Interest and the rights to Prepayment Penalty Amounts.
