Class CE-2 Interest definition

Class CE-2 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE-2 Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.
Sample 1Sample 2Sample 3

Examples of Class CE-2 Interest in a sentence

  • The Class A Certificates and the Mezzanine Certificates (other than the right to receive amounts from the Net WAC Rate Carryover Reserve Account or the Swap Account or the obligation to make payments to the Swap Account), the Class CE-1 Interest, the Class CE-2 Interest, the Class P Interest and the Class Swap-IO Interest shall be designated as the Regular Interests in REMIC III and the Class R-III Interest shall be designated as the Residual Interest in REMIC III.

  • The interests evidenced by the Class R-II Interest, together with the Regular Certificates, the Class CE-1 Interest, the Class CE-2 Interest and the Class P Interest, constitute the entire beneficial ownership interest in REMIC II.

  • The Trustee acknowledges receipt of the Class CE-2 Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the Class CE-2 Certificates and the Class R-X Certificates (in respect of the Class R-IV Interest).

  • Class CE-1 Interest, the Class CE-2 Interest, the Class P Interest and the Class Swap-IO Interest; Acceptance of REMIC IV, REMIC V, REMIC VI and REMIC VII by the Trustee.

  • Implementation Status The effective date for the contract with Osmoflo was April 29, 2016 it is expected that commissioning of the plant will begin in April 2017.

  • The Trustee acknowledges receipt of the Class CE-1 Interest, the Class P Interest, the Class Swap-IO Interest and the Class CE-2 Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Class R-X Certificateholders, REMIC IV (as holder of the Class CE-1 Interest), REMIC V (as holder of the Class P Interest), REMIC VI (as holder of the Class Swap-IO Interest) and REMIC VII (as holder of the Class CE-2 Interest).

  • The Trustee acknowledges receipt of the REMIC I Regular Interests and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the Regular Certificates (other than the Class CE-1 Certificates, the Class CE-2 Certificates and the Class P Certificates), the Class CE-1 Interest, the Class CE-2 Interest, the Class P Interest and the Class R Certificates (in respect of the Class R-II Interest).

  • The interests evidenced by the Class R-III Interest, together with the Regular Certificates, the Class CE-1 Interest, the Class CE-2 Interest and the Class P Interest, constitute the entire beneficial ownership interest in REMIC III.

  • For federal and state income tax purposes, the Class CE-2 Certificateholders shall be deemed to be the owners of the Group II Net WAC Rate Carryover Reserve Account and all amounts deposited into the Group II Net WAC Rate Carryover Reserve Account shall be treated as amounts distributed by REMIC II-B to the Holders of the Class CE-2 Interest and by the Class CE-2 Interest to the Holders of the Class CE-2 Certificates.

  • As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Class CE-2 Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC VII.” The Class R-VII Interest will evidence the sole class of “residual interests” in REMIC VII for purposes of the REMIC Provisions.

Related to Class CE-2 Interest

  • Class R-2 Interest The uncertificated Residual Interest in REMIC 2.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class A-2 Interest Rate means _____% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class M-2 Interest Carry Forward Amount As of any Distribution Date, the sum of (1) the excess of (A) the Class M-2 Current Interest with respect to prior Distribution Dates over (B) the amount actually distributed to the Class M-2 Certificates with respect to interest on such prior Distribution Dates and (2) interest on such excess (to the extent permitted by applicable law) at the Class M-2 Pass-Through Rate for the related Accrual Period.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class P designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class C Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to the aggregate principal balance of the Lower Tier REMIC Regular Interests immediately prior to such Distribution Date, plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates.

  • Class A-2 Interest Carryover Shortfall means, with respect to any Payment Date, the excess, if any, of (x) the Class A-2 Interest Distributable Amount for such Payment Date and any outstanding Class A-2 Interest Carryover Shortfall from the immediately preceding Payment Date (together with interest on such outstanding Class A-2 Interest Carryover Shortfall at the Class A-2 Rate, to the extent lawful, calculated on the same basis as interest on the Class A-2 Notes for the same period), over (y) the amount of interest distributed to the Class A-2 Noteholders on such Payment Date.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Current Interest With respect to each Class of Certificates and any Distribution Date, the aggregate amount of interest accrued at the applicable Certificate Interest Rate during the related Accrual Period on the Class Principal Amount or Class Notional Amount, as applicable, of such Class prior to any distributions of principal, allocations of Realized Losses or allocations of Certificate Writedown Amounts prior to such Distribution Date.