Centre REMIC definition

Centre REMIC. One of four separate REMICs comprising a portion of the Trust Fund, which consists of the Centre Trust Subordinate Companion Loan and the proceeds thereof, any allocable portion of any REO Property with respect thereto, the related REO Account (to the extent of amounts therein allocable to The Centre Trust Subordinate Companion Loan), the Centre REMIC Distribution Account and the Interest Reserve Account (to the extent of amounts therein allocable to The Centre Trust Subordinate Companion Loan).
View Source

Examples of Centre REMIC in a sentence

  • On each Distribution Date, the amounts that have been transferred to the Centre REMIC Distribution Account from the Collection Account or as P&I Advances or Compensating Interest Payments or as otherwise contemplated by the preceding sentences of this Section 4.01(a) shall be deemed distributed on the Centre Regular Interests to the Upper-Tier REMIC, in accordance with Section 4.01(a)(iv) and the last paragraph of Section 4.01(d).

  • All distributions made in respect of principal of any Class of Centre Loan-Specific Certificates on each Distribution Date pursuant to Section 4.01(o) or Section 9.01 shall be deemed to have first been distributed from the Centre REMIC to the Upper-Tier REMIC in respect of principal of its Corresponding Centre Regular Interest set forth in the Preliminary Statement hereto.

  • For federal income tax purposes, the Centre Remaining Certificateholder shall be deemed to have purchased the assets of the Centre REMIC for an amount equal to the remaining Certificate Balance of its remaining Centre Loan-Specific Certificates, plus accrued and unpaid interest with respect thereto, and the Certificate Administrator shall credit such amounts against amounts distributed in respect of the Centre Regular Interests and such Centre Loan-Specific Certificates.

  • All reimbursements (with interest, if applicable) of applicable Realized Losses made in respect of any Class of Centre Loan-Specific Certificates on each Distribution Date pursuant to Section 4.01(o) or Section 9.01 shall be deemed to have first been distributed from the Centre REMIC to the Upper-Tier REMIC as reimbursements (with interest, if applicable) of applicable Realized Losses in respect of its Corresponding Centre Regular Interest.

  • On each Distribution Date, Holders of the Class R Certificates shall receive distributions of any amounts remaining in the Centre REMIC Distribution Account in respect of the Centre Residual Interest after all payments have been made to the Certificate Administrator as the holder of the Centre Regular Interests in accordance with Section 4.01(a)(iv) and the last paragraph of Section 4.01(d).

  • The Centre Trust Subordinate Companion Loan and any other assets of the Centre REMIC are deemed distributed to the Centre Remaining Certificateholder in liquidation of the Centre REMIC pursuant to this Section 9.01.

  • The Class LTC-A, Class LTC-B, Class LTC-C, Class LTC-D, Class LTC-E and Class LTCRR Centre Regular Interests are hereby designated as “regular interests” in the Centre REMIC within the meaning of Code Section 860G(a)(1), and the Centre Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Centre REMIC within the meaning of Code Section 860G(a)(2).

  • The Certificate Administrator shall establish and maintain the Centre REMIC Distribution Account in the name of the Certificate Administrator on behalf of the Trustee, for the benefit of the Holders of the Centre Loan-Specific Certificates.

Related to Centre REMIC

  • Master REMIC As described in the Preliminary Statement.

  • a REMIC means any of (or, as the context requires, all of) the SWAP REMIC, the Lower Tier REMIC and the Upper Tier REMIC.

  • Middle-Tier REMIC As described in the Preliminary Statement.

  • Upper-Tier REMIC As described in the Preliminary Statement.

  • REMIC I Remittance Rate With respect to REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTA2C, REMIC I Regular Interest I-LTA2D, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10, REMIC I Regular Interest I-LTM11, REMIC I Regular Interest I-LTM12 and REMIC I Regular Interest I-LTM13, REMIC I Regular Interest I-LTZZ, REMIC I Regular Interest I-LTP, REMIC I Regular Interest I-LTX, REMIC I Regular Interest I-LT1SUB, REMIC I Regular Interest I-LT2SUB and REMIC I Regular Interest I-LTXX, the weighted average of the Expense Adjusted Net Mortgage Rates of the Mortgage Loans. With respect to REMIC I Regular Interest I-LT1GRP, the weighted average of the Expense Adjusted Net Mortgage Rates of the Group I Mortgage Loans and with respect REMIC I Regular Interest I-LT2GRP, the weighted average of the Expense Adjusted Net Mortgage Rates of the Group II Mortgage Loans.