Constituent REMICs definition

Constituent REMICs. Each of the one or more segregated asset pools designated in Article XII as a REMIC within the Trust Fund.

Examples of Constituent REMICs in a sentence

  • The Upper-Tier REMIC and the Lower-Tier REMIC shall be the "Constituent REMICs" for purposes of Section 3.11.

  • Any other method of termination or repurchase of the Trust Fund than as set forth above must be based on the receipt by the Trustee of an Opinion of Counsel or other evidence that such termination or repurchase will be part of a "qualified liquidation" within the meaning of Code Section 860F(a)(4)(A), will not adversely affect the status of the Trust Fund as the separate Constituent REMICs under the Code and will not otherwise subject the Trust Fund to any tax.

  • References to the “REMIC” are to the Constituent REMICs constituting one or more portions of the Trust Fund.

  • References to the "REMIC" are to the Constituent REMICs constituted by the Trust Fund.

Related to Constituent REMICs

  • Constituent entity means a merging entity or a surviv- ing entity in a merger.

  • Constituent Company means an existing company that is participating in a merger or consolidation with one or more other existing companies;

  • Constituent Person has the meaning specified in Section 5.6(b).

  • Constituent corporation means any corporation which engages with the Company, its Parent or any Subsidiary in a transaction to which Section 424(a) of the Code applies (or would apply if the option assumed or substituted were an ISO), or any Parent or any Subsidiary of such corporation.

  • Constituent Holder means any shareholder, collective investment fund included within a Qualifying Fund (as defined in paragraph (D) below) or beneficial holder whose stock ownership is counted for the purposes of qualifying as holding the Proxy Access Request Required Shares (as defined in paragraph (D) below) or qualifying as an Eligible Shareholder (as defined in paragraph (D) below);

  • Constituent Corporations has the meaning set forth in the second recital of this Agreement.

  • Constituent means any State resident or other person

  • Nonprofit organization means a university or other institution of higher education or an organization of the type described in section 501(c)(3) of the Internal Revenue Code of 1954 (26 U.S.C. 501(c) and exempt from taxation under section 501(a) of the Internal Revenue Code (25 U.S.C. 501(a)) or any nonprofit scientific or educational organization qualified under a state nonprofit organization statute.

  • Taxable REIT Subsidiary means a “taxable REIT subsidiary” within the meaning of Section 856(l) of the Code.

  • Reconstitution Any Securitization Transaction or Whole Loan Transfer.

  • Constituent Documents means with respect to any Person, as applicable, such Person’s certificate of incorporation, articles of incorporation, by-laws, certificate of formation, articles of organization, limited liability company agreement, management agreement, operating agreement, shareholder agreement, partnership agreement or similar document or agreement governing such Person’s existence, organization or management or concerning disposition of ownership interests of such Person or voting rights among such Person’s owners.

  • Not-for-Profit Organization means a nonprofit corporation as defined in ORS 307.130.

  • Reconstitution Date The date or dates on which any or all of the Mortgage Loans serviced under this Agreement shall be removed from this Agreement and reconstituted as part of a Pass-Through Transfer or a Whole Loan Transfer pursuant to Section 7.01 hereof. On such date or dates, the Mortgage Loans transferred shall cease to be covered by this Agreement and the Servicer's servicing responsibilities shall cease under this Agreement with respect to the related transferred Mortgage Loans.

  • Public Property means any and all property owned by the City or held in the name of the City by any of the departments, commissions or agencies within the City government.

  • Surviving organization means the organization resulting from a merger which:

  • Business organization means an individual, partnership, association, joint stock company, trust, corporation or other legal business entity or successor thereof.

  • REMIC Provisions means provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of subchapter M of Chapter 1 of the Code, and related provisions, and regulations (including any applicable proposed regulations) and rulings promulgated thereunder, as the foregoing may be in effect from time to time.

  • REIT means a real estate investment trust under Sections 856 through 860 of the Code.

  • Delaware Act means the Delaware Revised Uniform Limited Partnership Act, 6 Del C. Section 17-101, et seq., as amended, supplemented or restated from time to time, and any successor to such statute.