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CLASS P GRANTOR TRUST INTEREST definition

CLASS P GRANTOR TRUST INTEREST means that portion of the rights represented by the Class P Certificates that evidences beneficial ownership of the Excess Interest and the Excess Interest Sub-account, as described in Section 12.5(a) hereof.
CLASS P GRANTOR TRUST INTEREST means that portion of the rights represented by the Class P Certificates that evidences beneficial ownership of any Excess Interest, Exit Fees, Extension Fees, Extension Term Prepayment Premiums and the Class P Sub-account, as set forth in Section 12.5(a) hereof.

Related to CLASS P GRANTOR TRUST INTEREST

  • Trust Interest means an account owner's interest in the trust created by a participating trust

  • 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 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.

  • Grantor Trust means a Trust other than a RIC.

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

  • 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 LT-R Interest The residual interest in the Lower-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 P Certificates All Certificates bearing the class designation of "Class P".

  • 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.

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

  • Class P Certificate Any one of the Class P Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-5 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

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

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

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

  • REMIC II Certificate Any Regular Certificate or Class R Certificate.

  • REMIC I Certificates The Class R-I Certificates.

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

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

  • Class A-P Certificate Any one of the Certificates designated as a Class A-P Certificate.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • REMIC III Certificate Any Regular Certificate or Class R Certificate.