Examples of Class R-1 Residual Interest in a sentence
The Class R-1 Residual Interest is hereby designated as the sole class of “residual interest” in REMIC I for purposes of Section 860G(a)(2) of the Code.
The amount so reimbursed or paid pursuant to either of the immediately preceding two sentences shall be allocated as a loss to the Class R-1 Residual Interest, in reduction of the Class Principal Balance thereof.
On the Closing Date, the Company will acquire the REMIC I Regular Interests and the Class R-1 Residual Interest from the Trust as consideration for its transfer to the Trust of the Mortgage Loans and certain other assets and will be the owner of the REMIC I Regular Interests and the Class R-1 Residual Interest.
ACTION ITEM 15): upon a motion by Dr. Campbell and a second to the motion by Mr. Daniel, the Board unanimously authorized the Chancellor or Designee to negotiate and execute a contract for the purchase of a learning management system for LSC-Online from Angel Learning, 6510 Telecom Drive, Suite 400, Indianapolis, IN 46278, for an average amount of $410,000 annually up to five years.
The REMIC I Regular Interests and the Class R-1 Residual Interest shall together be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.
The obligation of the Company to repurchase or substitute any Mortgage Loan as to which such a defect in a constituent document exists shall constitute the sole remedy respecting such defect available to the Trust or the Holders of the REMIC I Regular Interests or the Class R-1 Residual Interest.
The Trust, as payment of the purchase price of the Mortgage Pool Assets, shall, on the Closing Date, issue (i) the REMIC I Regular Interests and the Class R-1 Residual Interest to the Company and (ii) the Class PPP Certificates to the Company or the Company’s designee in Authorized Denominations.
The REMIC I Regular Interests, the Class PPP Certificates and the Class R-1 Residual Interest shall together be a separate series of beneficial interests in the assets of the Trust consisting of the Mortgage Pool Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.
Special Climate Change Fund prioritizes investments in the two broad areas of adaptation and technology transfer.
In connection therewith, as of the Closing Date, in exchange for the Mortgage Pool Assets, the Trustee on behalf of the Trust does hereby issue to the Company the REMIC I Regular Interests and the Class R-1 Residual Interest.