Class CE Grantor Trust definition

Class CE Grantor Trust. The grantor trust created pursuant to Section 5.12 consisting of any interests in the Cap Carryover Reserve Account and Supplemental Interest Trust beneficially owned by the holders of the Class CE Certificates and rights and obligations with respect thereto. The Class CE Grantor Trust shall not be an asset of any REMIC formed hereunder.
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Examples of Class CE Grantor Trust in a sentence

  • That portion of the Trust exclusive of the Trust REMICs consisting of (a) the right of the Offered Certificates (other than the Exchangeable Certificates) and the Class B Certificates to receive Cap Carryover Amounts, (b) the obligation of the Class CE Certificate to pay Cap Carryover Amounts and (c) the Class CE Grantor Trust Subaccount.

  • Funds in the Class CE Grantor Trust Subaccount shall remain uninvested.

  • The Securities Administrator acknowledges the obligation of the Class CE Certificate to pay Cap Carryover Amounts, and declares that it holds any such Cap Carryover Amounts in the Class CE Grantor Trust Subaccount as assets of the Class CE Grantor Trust on behalf of the Holders of the Offered Certificates and the Class B Certificates, which shall be treated as beneficially owning the right to receive the Cap Carryover Amounts from the Class CE Grantor Trust.

  • The Class CE Grantor Trust Subaccount shall not be an asset of any REMIC formed under this Agreement.

  • As provided herein, the Securities Administrator will make an election to treat the segregated pool of assets consisting of the Lower Tier Regular Interests and certain other related assets subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as the “Upper Tier REMIC.” The Upper Tier REMIC shall not include the Class CE Grantor Trust, the Exchangeable Certificates Grantor Trust or any Servicer Prepayment Charge Payment Amounts.

  • Funds in the Class CE Grantor Trust Subaccount shall be held uninvested.

Related to Class CE Grantor Trust

  • Grantor Trust means a Trust other than a RIC.

  • 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 C Trust Class C Trustee", "Class D Certificate" and "Class D Trust", shall have the respective meanings assigned to such terms in the Intercreditor Agreement.

  • 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 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 HI B-2 Formula Interest Distribution Amount" means, as to any Payment Date, the sum of (a) the amount specified in clause (a) of the definition of the term "Class HI: B-2 Formula Distribution Amount" and (b) the Unpaid Class HI: B-2 Interest Shortfall, if any.

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

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • REMIC III Certificateholder The Holder of any REMIC III Certificate.

  • Class R-II Certificate Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions.

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.

  • REMIC II Certificates The REMIC II Regular Certificates and the Class R-II Certificates.

  • REMIC I Certificates The Class R-I Certificates.

  • Class X Certificates All Certificates bearing the class designation of "Class X".

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Computershare Trust Company, National Association, as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of BMO 2022-C1 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2022-C1, and the Uncertificated Interest Owners, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account. The Upper-Tier REMIC Distribution Account shall be an asset of the Upper-Tier REMIC.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as another Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

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

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

  • Grantor Trust Provisions Subpart E of part I of subchapter J of the Code and Treasury Regulations Section 301.7701-4(c).

  • REMIC III CERTIFICATES has the meaning set forth in the final paragraph of the Preliminary Statement hereto.

  • Class A Certificateholder means the Person in whose name a Class A Certificate is registered in the Certificate Register.

  • Class R-III Certificate Any one of the Class R-III Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC III for purposes of the REMIC Provisions.

  • Class P Certificates All Certificates bearing the class designation of "Class P".

  • Grantor Trust Certificates Any class of commercial mortgage pass-through certificates issued under this Agreement that is designated as evidencing an interest in the Grantor Trust. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Grantor Trust Certificates issued under this Agreement.

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