Class P Interest definition

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 P Interest. An interest in the Upper-Tier REMIC, as described in the Preliminary Statement, which interest shall be evidenced by the rights of the Class P Certificates to receive Prepayment Premiums.

Class P Interest. Not applicable.

Examples of Class P Interest in a sentence

• On each Distribution Date the Trustee shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 5.07 hereof.

• REMIC PX As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Class P Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC PX.” The Class R-PX Interest shall represent the sole class of “residual interests” in REMIC PX for purposes of the REMIC Provisions (as defined herein) under federal income tax law.

• On each Distribution Date the Securities Administrator shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 6.07 hereof.

• REMIC SwapX As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Class P Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC SwapX.” The Class R-SwapX Interest shall represent the sole class of “residual interests” in REMIC SwapX for purposes of the REMIC Provisions (as defined herein) under federal income tax law.

More Definitions of Class P Interest

Class P Interest. Any of the Class I-P Interest and Class II-P Interest.

Class P Interest. An interest in Upper-Tier REMIC 1, as described in footnote (16) to the table entitled “The Certificates” in the Preliminary Statement, which interest shall be evidenced by the rights of the holders of the Class P Certificates to receive Prepayment Premiums with respect to Mortgage Loans.

Class P Interest. The Upper-Tier Regular Interest as specified and described in the Preliminary Statement and the related footnote thereto.

Class P Interest means an Interest that has been designated as Class P

Class P Interest. An interest in the Upper-Tier REMIC, as described in the Preliminary Statement footnote (19) under the caption “The Certificates.”

Class P Interest. The Class P Interest will represent a “regular interest” in REMIC III for purposes of the REMIC Provisions.

Class P Interest. An interest in the REMIC UT-1&2, as described in footnote (14) to the table entitled “REMIC UT-1&2” in the Preliminary Statement, which interest shall be evidenced by the rights of the Class P Certificates to receive Prepayment Premiums with respect to the Mortgage Loans in Pool 1 and Pool 2.