Class P REMIC definition

Class P REMIC. As defined in the Preliminary Statement.
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Examples of Class P REMIC in a sentence

  • The Trustee will hold the Class PM Interest in the Master REMIC for the benefit of the Class P REMIC.

  • The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the “regular interests” in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of “residual interest” in the Class P REMIC.

  • The Class C REMIC shall hold as its assets the uncertificated Class C interest in the Master REMIC and the Class P REMIC shall hold as its assets the uncertificated Class P interest in the Master REMIC.

  • As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Class P Regular Interest in the Master REMIC as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as the “Class P REMIC.” The Class P REMIC shall also issue the Class R-X2 Interest, which shall evidence the sole class of “residual interests” in the Class P REMIC for purposes of the REMIC Provisions under federal income tax law.

  • The Class R-X Certificate represents ownership of the sole Class of residual interest in each of the Class C REMIC and the Class P REMIC.

  • As provided herein, the Trustee shall elect to treat the segregated pool of assets consisting of the Class P interest issued by the Master REMIC as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as the “Class P REMIC.” The Class P REMIC shall also issue the Class R-XP Interest, which shall evidence the sole class of “residual interests” in the Class P REMIC for purposes of the REMIC Provisions under federal income tax law.

  • The Class P REMIC shall hold as its assets the uncertificated Class P interest in the Upper Tier REMIC.

  • The assets of the Class P REMIC will consist of the Class PM Interest in the Master REMIC and interests in the Class P REMIC will be evidenced by (i) the Class P Certificate, which will represent the "regular interests" in the Class P REMIC and (ii) the Class PR-X Interest, which will represent the single class of "residual interest" in the Class P REMIC.

  • The Class P REMIC shall hold as its assets the Class P interest issued by the Master REMIC, and such interest is hereby designated as a regular interest in the Class P REMIC.

  • The Class P REMIC shall issue the following classes of interests.

Related to Class P REMIC

  • Lower-Tier REMIC As described in the Preliminary Statement.

  • Upper-Tier REMIC As described in the Preliminary Statement.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2016-P3, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.