Class R-4 Residual Interest definition

Class R-4 Residual Interest. The uncertificated undivided beneficial interest in REMIC IV which has been designated as the single class of “residual interest” in REMIC IV pursuant to Section 2.13.
Sample 1Sample 2Sample 3

Examples of Class R-4 Residual Interest in a sentence

  • The Class R-4 Residual Interest is hereby designated as the sole class of “residual interest” in REMIC IV for purposes of Section 860G(a)(2) of the Code.

  • The REMIC IV Regular Interests and the Class R-4 Residual Interest shall together be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC IV Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • 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-4 Residual Interest, in reduction of the Class Principal Balance thereof.

  • Thereafter on the Closing Date, the Company will acquire the Class C Certificates and the Class R-4 Residual Interest as consideration for its transfer to the Trust of the Class L3-C Regular Interest and will be the owner of the Class C Certificates and the Class R-4 Residual Interest.

  • The Trustee hereby acknowledges and accepts on behalf of the Trust the assignment to the Trust pursuant to Section 2.18 of the Class L3-C Regular Interest and declares that as of the Closing Date it holds and shall hold such assets and any documents constituting a part of such assets, as Trustee in trust, upon the trust herein set forth, for the use and benefit of all present and future Holders of the Class C Certificates and the Class R-4 Residual Interest.

  • The Class C Certificates and the Class R-4 Residual Interest shall together be a separate series of beneficial interests in the assets of the Trust consisting of the Class L3-C Regular Interest pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • The Trust, as payment of the purchase price of the Class L3-C Regular Interest, shall issue the Class C Certificates and the Class R-4 Residual Interest to the Company on the Closing Date.

  • The Trust, as payment of the purchase price of the REMIC IV Assets, shall, on the Closing Date, (i) issue the Class R-4 Residual Interest to the Company and (ii) issue the Group 1 Certificates, the Group 2 Certificates and the Group L-B Certificates to the Company or the Company’s designee in Authorized Denominations.

  • The Trustee hereby acknowledges and accepts on behalf of the Trust the assignment to the Trust pursuant to Section 2.15 of the REMIC IV Assets and declares that as of the Closing Date it holds and shall hold any documents constituting a part of the REMIC IV Assets, and the REMIC IV Assets, as Trustee in trust, upon the trust herein set forth, for the use and benefit of all present and future Holders of the REMIC IV Regular Interests and the Class R-4 Residual Interest.

  • Thereafter, on the Closing Date, the Company will acquire the REMIC IV Regular Interests and the Class R-4 Residual Interest from the Trust as consideration for its transfer to the Trust of the REMIC II and REMIC III Regular Interests and will be the owner of the REMIC IV Regular Interests and the Class R-4 Residual Interest.

Related to Class R-4 Residual Interest

  • 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.

  • 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 R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Residual Interest The sole class of "residual interests" in a REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Residual Interests As specified in the Preliminary Statement.

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

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

  • Residual Interest Certificate means any of the Class R-I Certificates, the Class R-II Certificates, the Class R-III Certificates or, if issued in accordance with Section 2.06, the Class R-LR Certificates.

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

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

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

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

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

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

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

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

  • Class R Certificate The Class R Certificate executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A and evidencing the ownership of the Class LT-R Interest and the residual interest in the Upper Tier REMIC.

  • Class R-1 Certificate Any Certificate designated a “Class R-1 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC I and representing the right to the Percentage Interest of distributions provided for the Class R-1 Certificates as set forth herein.

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Class R Certificateholder A Holder of a Class R Certificate.