Class R-2A Interest definition
Examples of Class R-2A Interest in a sentence
Each such REMIC IIA Interest, other than the Class R-2A Interest, is hereby designated as a regular interest in REMIC IIA.
REMIC IIB shall hold as its assets the several Classes of uncertificated Lower Tier Interests in REMIC IIA, other than the Class R-2A Interest, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC IIA.
In addition, the Class R-2A Interest is hereby designated as the sole residual interest in REMIC IIA, the Class R-2B Interest is hereby designated as the sole residual interest in REMIC IIB, and the Class R Certificate evidences ownership of the Class R-2A and Class R-2B Interests, and is also hereby designated as the sole residual interest in REMIC III.
The interests evidenced by the Class R-2A Interest, together with the REMIC IIA Regular Interests, constitute the entire beneficial ownership interest in REMIC IIA.
The rights of the Holders of the Class R-2A Interest and REMIC IIB (as Holder of the REMIC IIA Regular Interests) to receive distributions from the proceeds of REMIC IIA in respect of the Class R-2A Interest and the REMIC IIA Regular Interests, respectively, and all ownership interests evidenced or constituted by the Class R-2A Interest and the REMIC IIA Regular Interests, shall be as set forth in this Agreement.
The Securities Administrator shall not permit the creation of any “interests” (within the meaning of Section 860G of the Code) in any REMIC created hereunder other than the REMIC 1-A Regular Interests, the REMIC 2-A Regular Interests, the Group I Certificates, the Group II Certificates, the Class CB Certificates, the Group III Certificates, the Class R-1A Interest, the Class R-1B Interest, the Class R-2A Interest and the Class R-2B Interest.
The Class R-2A Interest will represent the sole Class of “residual interests” in REMIC IIA for purposes of the REMIC Provisions.
The rights of the Holders of the Class R-2A Interest and REMIC IIA (as holder of the REMIC IIA Regular Interests) to receive distributions from the proceeds of REMIC IIA in respect of the Class R-2A Interest and the REMIC IA Regular Interests, respectively, and all ownership interests evidenced or constituted by the Class R-IA Interest and the REMIC IA Regular Interests, shall be as set forth in this Agreement.
The Trustee acknowledges receipt of REMIC 2-A and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the REMIC 2-A Regular Interests and Holders of the Class R-II Certificates (as Holders of the Class R-2A Interest).
The interests evidenced by the Class R-2A Interest, together with the REMIC 2-A Regular Interests, constitute the entire beneficial ownership interest in REMIC 2-A.