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.
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.