Class X Interest definition

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 X Interest. The Upper-Tier Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: April 28, 2006. Closing Date Deposit Amount: $49,916.74 (all of which is allocable to principal) deposited by the Depositor into the Distribution Account on the Closing Date. $13.18 of the Closing Date Deposit Amount shall be attributable to the Group I Mortgage Loans and $49,903.56 of the Closing Date Deposit Amount shall be attributable to the Group II Mortgage Loans.

Class X Interest. The Upper Tier Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: April 29, 2004.

Examples of Class X Interest in a sentence

• Any Basis Risk Carry Forward Amounts distributed by the Securities Administrator to the LIBOR Certificateholders from the Excess Reserve Fund Account shall be accounted for by the Securities Administrator, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates (in respect of the Class X Interest) and then to the respective Class or Classes of LIBOR Certificates.

• For all federal income tax purposes, amounts transferred to the Excess Reserve Fund Account shall be treated as distributions by the Securities Administrator from the Upper-Tier REMIC to the Class X Interest and from the Class X REMIC to the Class X Certificates and then contributed by the Class X Certificateholders to the Excess Reserve Fund Account.

• For all federal income tax purposes, amounts transferred by the Upper-Tier REMIC to the Excess Reserve Fund Account shall be treated as distributions by the Securities Administrator to the Class X Certificateholders in respect of the Class X Interest and then contributed by the Class X Certificateholders to the Excess Reserve Fund Account.

• Any Basis Risk Carry Forward Amounts distributed by the Trustee to the LIBOR Certificateholders from the Excess Reserve Fund Account shall be accounted for by the Trustee, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates (in respect of the Class X Interest) and then to the respective Class or Classes of LIBOR Certificates.

• The Class X Certificate represents ownership of the Class X Interest in the Master REMIC and also represents ownership of the assets held from time to time in the Basis Risk Reserve Fund and the Supplemental Interest Trust.

More Definitions of Class X Interest

Class X Interest. The Upper-Tier Regular Interest as specified and described in the Preliminary Statement and the related footnote thereto.

Class X Interest. As defined in the Preliminary Statement.

Class X Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class X Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

Class X Interest. The Upper Tier Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: January 27, 2006. Closing Date Deposit Amount: $574.38 (all of which is allocable to principal) deposited by the Depositor into the Distribution Account on the Closing Date.

Class X Interest. The Upper Tier Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: February 26, 2003. Closing Date Deposit Amount: $2,791.98 ($2,774.16 of which is allocable to principal) deposited by the Depositor into the Distribution Account on the Closing Date. $1,464.06 ($1,454.72 of which is allocable to principal) of the Closing Date Deposit Amount shall be attributable to the Group I Mortgage Loans, and $1,327.92 ($1,319.44 of which is allocable to principal) of the Closing Date Deposit Amount shall be attributable to the Group II Mortgage Loans.

Class X Interest. An uncertificated regular interest in the Subsidiary REMIC with an initial principal balance equal to the excess of (i) the aggregate principal balances of the Mortgage Loans over (ii) the aggregate principal balances of the Marker Classes and an interest rate equal to the Net Rate.

Class X Interest. A regular interest in REMIC IV, ownership of which is evidenced by the Class X Certificates.