Class R-1A Interest definition

Class R-1A Interest. The Residual Interest in REMIC 1A.
Sample 1Sample 2Sample 3
Class R-1A Interest is the sole class of residual interest in Subsidiary REMIC 1. It has no principal balance and pays no principal or interest. On each Distribution Date, the Available Funds shall be distributed with respect to the Subsidiary REMIC 1 Interests in the following manner:
Sample 1

Examples of Class R-1A Interest in a sentence

  • For the purposes of the REMIC election in respect of REMIC 1A, the REMIC 1A Regular Interests shall be designated as the Regular Interests in REMIC 1A and the Class R-1A Interest shall be designated as the Residual Interest in REMIC 1A.

  • The Class R-1A Interest will represent the single Class of "residual interest" in REMIC 1A and the Class R-1B Interest will represent the single Class of "residual interest" in REMIC 1B.

  • The REMIC 1A Regular Interests will represent the “regular interests” in REMIC 1A, and the Class R1A Interest will represent the single Class of “residual interest” in REMIC 1A.

  • The REMIC 1A Regular Interests and REMIC 1B Regular Interests will represent the "regular interests" in REMIC 1A and REMIC 1B, respectively, and the Class R1A Interest and Class R1B Interest will represent the single Class of "residual interest" in each of REMIC 1A and REMIC 1B.

  • The Class R-1A Interest will represent the single Class of "residual interest" in Subsidiary REMIC 1 and the Class R-1B Interest will represent the single Class of "residual interest" in Subsidiary REMIC 2.

  • Each REMIC 1A Interest (other than the Class R-1A Interest) is hereby designated as a regular interest in REMIC 1A.

  • The interests evidenced by the Class R-1A Interest, together with the REMIC IA Regular Interests, constitute the entire beneficial ownership interest in REMIC IA.

  • The Class R-1A Interest will represent the sole Class of “residual interests” in REMIC 1-A for purposes of the REMIC Provisions.

  • The Trustee acknowledges receipt of the REMIC 0A Regular Interests (which are uncertificated) and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC 1A Regular Interests and the Class R-1A Interest.

  • The rights of the Holders of the Class R-1A Interest and REMIC IB (as Holder of the REMIC IA Regular Interests) to receive distributions from the proceeds of REMIC IA in respect of the Class R-1A Interest and the REMIC IA Regular Interests, respectively, and all ownership interests evidenced or constituted by the Class R-1A Interest and the REMIC IA Regular Interests, shall be as set forth in this Agreement.

Related to Class R-1A Interest

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

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

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

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

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

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

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

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

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

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

  • 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 R-2 Interest The uncertificated Residual Interest in REMIC 2.

  • 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 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 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 R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Lower Tier Interest As described in the Preliminary Statement.

  • 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 A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • 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 R-X Certificate Any one of the Class R-X Certificates executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-R-X and evidencing the ownership of the Class R-IV Interest, the Class R-V Interest and the Class R-VI Interest.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class R Certificates All Certificates bearing the class designation of "Class R".