Termination of Multiple REMICs Sample Clauses
The 'Termination of Multiple REMICs' clause defines the process and conditions under which several Real Estate Mortgage Investment Conduits (REMICs) established within a single transaction can be simultaneously or individually terminated. This clause typically outlines the specific events or triggers—such as the full repayment of underlying mortgage loans or the occurrence of a cleanup call—that allow for the orderly winding down of each REMIC. By providing a clear framework for ending the legal existence of multiple REMICs, the clause ensures efficient administration and helps prevent legal or tax complications that could arise from ambiguous termination procedures.
Termination of Multiple REMICs. If the REMIC Administrator makes two or more separate REMIC elections, the applicable REMIC shall be terminated on the earlier of the Final Distribution Date and the date on which it is deemed to receive the last deemed distributions on the related Uncertificated REMIC Regular Interests and the last distribution due on the Certificates is made.
Termination of Multiple REMICs. (See Section 9.03 of the Standard Terms)
Termination of Multiple REMICs. 103 Article X REMIC PROVISIONS........................................................104
Termination of Multiple REMICs. 95 ARTICLE X
Termination of Multiple REMICs. (See Section 9.03 of the Standard Terms)........................................................
Termination of Multiple REMICs. 98 ARTICLE X
Termination of Multiple REMICs. 95 ARTICLE X REMIC PROVISIONS Section 10.01 REMIC ADMINISTRATION..................................................................95 Section 10.02 MASTER SERVICER, REMIC ADMINISTRATOR AND TRUSTEE INDEMNIFICATION......................99 Section 10.03 DESIGNATION OF REMIC(S)...............................................................99 ARTICLE XI
Termination of Multiple REMICs. If the REMIC Administrator makes two or more separate REMIC elections, the applicable REMIC shall be terminated on the earlier of the Final Distribution Date and the date on which it is deemed to receive the last deemed distributions on the related Uncertificated REMIC Regular Interests and the last distribution due on the Certificates is made. <!-- MARKER PAGE="sheet: 246; page: 246" --> <HR SIZE=5 COLOR=▇▇▇▇ NOSHADE> ARTICLE X REMIC PROVISIONS Section 10.01.