Class M-9 Interest definition

Class M-9 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class M-9 Certificates, evidencing a Regular Interest in REMIC 2 for purposes of the REMIC Provisions.
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Examples of Class M-9 Interest in a sentence

  • REMIC 6 As provided herein, the Trustee shall make an election to treat the Class M-9 Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 6." The Class R-6 Interest represents the sole class of "residual interests" in REMIC 6 for purposes of the REMIC Provisions.

  • The Holders of the Class C Certificates shall be the beneficial owner of the Class M-9 Interest Reserve Fund, subject to the power of the Securities Administrator to transfer amounts under this Agreement.

  • The Trustee shall not permit the creation of any "interests" in any Trust REMIC (within the meaning of Section 860G of the Code) other than the REMIC I Regular Interests, the Class M-8 Interest, the Class M-9 Interest, the Class M-10 Interest, the Class M-11 Interest, the Class M-12 Interest, the Class CE Interest and the Class P Interest and the interests represented by the Certificates.

  • The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey to the Trustee, without recourse all the right, title and interest of the Depositor in and to the Class M-9 Interest for the benefit of the Holders of the Class M-9 Certificates and the Class R-IV Interest, and REMIC IV (as holder of the Class M-9 Interest).

  • Acceptance of REMIC 1 and REMIC 2 by the Trustee; Conveyance of REMIC I Regular Interests and Class M-7 Interest, Class M-8 Interest, Class M-9 Interest and Class B Interest; Issuance of Certificates.......................................69 ARTICLE III ADMINISTRATION AND SERVICING OF THE MORTGAGE LOANS SECTION 3.01.

  • The Class M-9 Interest Reserve Fund shall remain outstanding until the earlier of (a) the payment in full of the Class M-9 Certificates and (b) the date on which no funds are available in the Class M-9 Interest Reserve Fund.

  • REMIC 1 ------- As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Trust Fund (exclusive of the Basis Risk Shortfall Reserve Fund, the Class M-9 Interest Reserve Fund and, for the avoidance of doubt, the Supplemental Interest Trust and the Swap Agreement) as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 1".

  • The Trustee acknowledges receipt of the Class M-9 Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class M-9 Certificates and the Class R-X Certificates, in respect of the Class R-IV Interest, and REMIC IV (as holder of the Class M-9 Certificates).

  • The Class M-9 Interest Reserve Fund constitutes an "outside reserve fund" within the meaning of Treasury Regulation ss.

  • Any funds remaining in the Class M-9 Interest Reserve Fund following the payment in full of the Class M-9 Certificates shall be paid to the holders of the Class C Certificates.