Class LTR Interest definition

Class LTR Interest. The sole class of "residual interest" in the Lower Tier REMIC.
Sample 1Sample 2Sample 3
Class LTR Interest. The sole residual interest in the Lower Tier REMIC.
Sample 1Sample 2Sample 3
Class LTR Interest. The Class LT1 and Class LT2 Interests will be held as assets of the Upper Tier REMIC. The Class LT1 Interest shall have an initial principal balance equal to the Cut-off Date Aggregate Principal Balance of the Pool 1 Mortgage Loans and shall bear interest at a rate equal to the weighted average of the Net Mortgage Rates of the Pool 1 Mortgage Loans (the "Class LT1 Rate"). On any Distribution Date, the Class LT1 Interest shall be entitled to interest payments at the Class LT1 Rate and principal distributions to the extent of the Principal Distribution Amount for the Group 1 Certificates. Realized Losses and Net Prepayment Interest Shortfalls with respect to the Mortgage Loans in Pool 1 shall be allocated to the Class LT1 Interest. The Class LT2 Interest shall have an initial principal balance equal to the Cut-off Date Aggregate Principal Balance of the Pool 2 Mortgage Loans and shall bear interest at a rate equal to the weighted average of the Net Mortgage Rates of the Pool 2 Mortgage Loans (the "Class LT2 Rate"). On any Distribution Date, the Class LT2 Interest shall be entitled to interest payments at the Class LT2 Rate and principal distributions to the extent of the Principal Distribution Amount for the Group 2 Certificates. Realized Losses and Net Prepayment Interest Shortfalls with respect to the Mortgage Loans in Pool 2 shall be allocated to the Class LT2 Interest. The Class LTR Interest shall not have a principal balance and shall not bear interest. The Class R Certificate shall evidence ownership of the Class LTR Interest. The Lower Tier REMIC shall hold all assets included in the Trust Fund other than (a) the Class LT1, Class LT2, and Class LTR Interests, (b) the Class 2-A3 Reserve Fund, (c) the Rounding Account, and (d) the Class 2-A3 Certificate Insurance Policy. The following table sets forth (or describes) the Class designation, Certificate Interest Rate, initial Class Certificate Principal Amount (or Aggregate Notional Amount) and minimum denomination for each Class of Certificates comprising the interests in the Trust Fund created hereunder.
Sample 1

Examples of Class LTR Interest in a sentence

  • The Class LTR Interest shall not have a principal balance or bear interest.

  • The Class LT-R Interest will constitute the sole Class of “residual interests” in the Lower-Tier REMIC created hereunder and will be evidenced by the Class R Certificates.

  • The beneficial ownership of the Class LTR Interest and the Residual Interest shall be represented by the Class R Certificate.

  • The Class R Certificate will represent beneficial ownership of the Class LTR Interest and the Residual Interest.

  • The Lower Tier REMIC shall issue the Lower Tier REMIC Regular Interests, which shall be designated as regular interests of such REMIC and shall issue the Class LTR Interest, which shall be designated as the sole class of residual interest in the Lower Tier REMIC.

  • The Lower Tier REMIC will consist of SWAP REMIC Regular Interests and will be evidenced by the Lower Tier REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the Class LTR Interest as the single "residual interest" in the Lower Tier REMIC.

  • The Class R Certificate will represent beneficial ownership of the Class SWR Interest, the Class LTR Interest and the Residual Interest.

  • The Lower Tier REMIC shall issue the Lower Tier REMIC Regular Interests which shall be designated as regular interests of such REMIC and shall issue the Class LTR Interest that shall be designated as the sole class of residual interest in the Lower Tier REMIC.

  • The Class LT-R Interest is hereby designated as the sole residual interest (within the meaning of Section 860G(a)(2) of the Code) in the Lower-Tier REMIC.

  • The Lower Tier REMIC will consist of all of the assets constituting the Trust Fund (other than the assets described in clauses (ii), (iii) and (iv) above and the Lower Tier REMIC Regular Interests) and will be evidenced by the Lower Tier REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Lower Tier REMIC) and the Class LTR Interest as the single "residual interest" in the Lower Tier REMIC.


More Definitions of Class LTR Interest

Class LTR Interest. As defined in the Preliminary Statement.
Sample 1

Related to Class LTR Interest

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

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

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

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

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

  • Lower Tier Interest As described in the Preliminary Statement.

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

  • 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 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 C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class LB Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Class A Percentage Interest means, with respect to a Class A Member as of a given date, that percentage obtained by dividing the total number of Class A Units owned by such Member by the total number of Class A Units issued and outstanding.

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

  • Class LC Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Class LE Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Class LD Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

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

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

  • 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-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 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.

  • 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.