REMIC II. As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC II.” The Class R-II Interest will evidence the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the REMIC II Remittance Rate, the initial aggregate Uncertificated Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC II Regular Interests. None of the REMIC II Regular Interests will be certificated. Designation REMIC II Remittance Rate Initial Uncertificated Balance Latest Possible Maturity Date (1) AA Variable(2 ) $ 344,206,466.32 October 25, 2036 A-1 Variable(2 ) $ 1,120,645.00 October 25, 2036 A-2A Variable(2 ) $ 813,340.00 October 25, 2036 A-2B Variable(2 ) $ 323,045.00 October 25, 2036 A-2C Variable(2 ) $ 232,410.00 October 25, 2036 A-2D Variable(2 ) $ 204,505.00 October 25, 2036 M-1 Variable(2 ) $ 138,735.00 October 25, 2036 M-2 Variable(2 ) $ 129,955.00 October 25, 2036 M-3 Variable(2 ) $ 75,515.00 October 25, 2036 M-4 Variable(2 ) $ 64,980.00 October 25, 2036 M-5 Variable(2 ) $ 64,980.00 October 25, 2036 M-6 Variable(2 ) $ 57,955.00 October 25, 2036 M-7 Variable(2 ) $ 57,955.00 October 25, 2036 M-8 Variable(2 ) $ 49,170.00 October 25, 2036 M-9 Variable(2 ) $ 40,390.00 October 25, 2036 M-10 Variable(2 ) $ 24,585.00 October 25, 2036 M-11 Variable(2 ) $ 35,125.00 October 25, 2036 ZZ Variable(2 ) $ 3,591,331.76 October 25, 2036 P Variable(2 ) $ 100.00 October 25, 2036 IO Variable(2 ) (3 ) October 25, 2036 I-SUB Variable(2 ) $ 6,808.58 October 25, 2036 I-GRP Variable(2 ) $ 28,082.89 October 25, 2036 II-SUB Variable(2 ) $ 9,558.74 October 25, 2036 II-GRP Variable(2 ) $ 39,975.80 October 25, 2036 XX Variable(2 ) $ 351,146,662.08 October 25, 2036
REMIC II. On each Distribution Date, following the deemed distributions with respect to the REMIC II Regular Interests on such Distribution Date pursuant to Section 6.4, any Collateral Support Deficits with respect to the REMIC II Regular Interests on such Distribution Date will be allocated to the respective REMIC II Regular Interests as follows:
REMIC II. (a) On each Distribution Date, following any allocations of Trust Advisor Expenses on such Distribution Date pursuant to Section 6.11, the Certificate Administrator shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, amounts distributable to any Class of Principal Balance Certificates (other than the Exchangeable Certificates) and the EX XXXXX III Regular Interests, pursuant to Section 6.5, Section 6.10 or Section 11.1, with respect to such Class’s or EX XXXXX III Regular Interest’s Corresponding REMIC II Regular Interest.
REMIC II. As provided herein, the Tax Administrator will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC II”. The Class R Certificates will evidence ownership of (among other things) the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions. The following table sets forth the designation, the REMIC II Remittance Rate and the initial Uncertificated Principal Balance for each of the REMIC II Regular Interests (except in the case of the Class X-Y REMIC II Regular Interest, with respect to which the initial Uncertificated Notional Amount is set forth). The Latest Possible Maturity Date for each REMIC II Regular Interest is the date that is the Rated Final Distribution Date. None of the REMIC II Regular Interests will be certificated. Designation REMIC II Remittance Rate Initial Uncertificated Principal Balance or Uncertificated Notional Amount A-SB Variable(1) $ 102,144,000 X-Y Variable(1) $ 29,558,534 (2) B Variable(1) $ 68,802,000 C Variable(1) $ 52,066,000 D Variable(1) $ 111,570,000 E Variable(1) $ 31,611,000 F Variable(1) $ 14,876,000 G Variable(1) $ 63,223,793
REMIC II. On each Distribution Date, all Realized Losses and Expense Losses on the REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be allocated to the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f). Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of the Certificate Balance of such REMIC II Regular Interest and the sum of the Class X-1 Strip Rate and the Class X-2 Strip Rate (if any) applicable to the Class of Certificates relating to such REMIC II Regular Interest.
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
REMIC II. As provided herein, the Tax Administrator will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC II”. The Class R Certificates will evidence ownership of (among other things) the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions. The following table sets forth the designation, the REMIC II Remittance Rate and the initial Uncertificated Principal Balance for each of the REMIC II Regular Interests. The Latest Possible Maturity Date for each REMIC II Regular Interest is the Rated Final Distribution Date. None of the REMIC II Regular Interests will be certificated.
REMIC II. On each Distribution Date, all Realized Losses on the REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be allocated to the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses shall be allocated among two or more Corresponding REMIC II Regular Interests that correspond to a Class of Principal Balance Certificates sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-5A, REMIC II Regular Interest A-5B, REMIC II Regular Interest A-5C, REMIC II Regular Interest A-6A, REMIC II Regular Interest A-6B, REMIC II Regular Interest A-6C, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest P, which reduction shall be allocated pro rata based on the product of the Certificate Balance of such REMIC II Regular Interest and the sum of the Class X-1 Strip Rate and the Class X-2 Strip Rate (if any) applicable to the Class of Certificates relating to such REMIC II Regular Interest.
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, amounts distributable to any Class of Principal Balance Certificates pursuant to Section 6.5 or Section 10.1 to its Corresponding REMIC II Regular Interest set forth in the Preliminary Statement hereto; provided that interest shall be deemed to have been distributed pro rata among two or more Corresponding REMIC II Regular Interests that correspond to a Class of Principal Balance Certificates; and provided, further, that distributions of principal:
REMIC II. Section 6.4 [Reserved]................................................... Section 6.5 REMIC III.................................................... Section 6.6 Allocation of Realized Losses, Expense Losses and Shortfalls Due to Nonrecoverability......................... Section 6.7 Net Aggregate Prepayment Interest Shortfalls................. Section 6.8
