Group II Supplemental Interest Trust definition

Group II Supplemental Interest Trust. The corpus of a trust created pursuant to Section 3.22 of this Agreement and designated as the “Group II Supplemental Interest Trust,” consisting of the Group II Swap Agreement, the rights in respect of the Swap Administration Agreement that relate to Loan Group II, the Group II Swap Account and REMIC X Regular Interest IO. For the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account and the Swap Administration Agreement do not constitute parts of the Trust Fund or any REMIC.

Group II Supplemental Interest Trust. Has the meaning set forth in Section 5.8 of this Agreement.

Group II Supplemental Interest Trust. The corpus of a trust created pursuant to Section Group II Supplemental Interest Trust Trustee: LaSalle Bank National Association, a national banking association not in its individual capacity but solely in its capacity as group II supplemental interest trust trustee and any successor thereto, and any corporation or national banking association resulting from or surviving any consolidation or merger to which it or its

Examples of Group II Supplemental Interest Trust in a sentence

• For federal income tax purposes, such amounts paid to the Group II Supplemental Interest Trust on each Distribution Date shall first be deemed paid to the Group II Supplemental Interest Trust in respect of REMIC X Regular Interest IO to the extent of the amount distributable on such REMIC X Regular Interest IO on such Distribution Date, and any remaining amount shall be deemed paid to the Group II Supplemental Interest Trust in respect of a Group II Class IO Distribution Amount.

• In addition, the Swap Administrator shall remit to the Group II Swap Provider any Group II Swap Optional Termination Payment paid as part of the Group II Mortgage Loan Purchase Price and remitted to the Group II Supplemental Interest Trust pursuant to Section 10.01.

• In performing its duties hereunder and under the Group II Swap Agreement and the rights in respect of the Swap Administration Agreement that relate to Loan Group II, the Group II Supplemental Interest Trust Trustee shall be entitled to the same rights, protections and indemnities as provided to the Trustee hereunder.

• The Group II Supplemental Interest Trust shall hold the Group II Swap Agreement, the rights in respect of the Swap Administration Agreement that relate to Loan Group II, the Group II Swap Account and REMIC X Regular Interest IO.

• The Seller, the Master Servicer, the Depositor and the Group II Certificateholders by acceptance of their Certificates acknowledge and agree that the Trustee, the Swap Administrator and the Group II Supplemental Interest Trust Trustee shall execute, deliver and perform its respective obligations under the Swap Administration Agreement and shall do so solely in its capacity as Trustee, the Swap Administrator and the Group II Supplemental Interest Trust Trustee and not in its individual capacity.

• The Trustee, the Swap Administrator and the Group II Supplemental Interest Trust Trustee in its individual capacity shall have no responsibility for any of the undertakings, agreements or representations by it with respect to the Swap Administration Agreement, including, without limitation, for making any payments thereunder.

• If the Swap Administrator is unable to obtain a replacement interest rate swap agreement within the period specified in the Swap Administration Agreement, any such Group II Swap Termination Payments shall be used by the Swap Administrator, on behalf of the Group II Supplemental Interest Trust Trustee, for payment to the Holders of the Class II-A Certificates and Class II-M Certificates or for such other purpose specified in the Swap Administration Agreement in accordance with the terms thereof.

• For federal income tax purposes, such amounts paid to the Group II Supplemental Interest Trust on each Distribution Date shall first be deemed paid to the Group II Supplemental Interest Trust in respect of REMIC VIII Regular Interest IO to the extent of the amount distributable on such REMIC VIII Regular Interest IO on such Distribution Date, and any remaining amount shall be deemed paid to the Group II Supplemental Interest Trust in respect of a Group II Class IO Distribution Amount.

• In performing its duties hereunder and under the Group II Interest Rate Swap Agreement and the Swap Administration Agreement insofar as such agreement relates to the Group II Loans, the Group II Supplemental Interest Trust Trustee shall be entitled to the same rights, protections and indemnities as provided to the Securities Administrator hereunder.

• The Group II Supplemental Interest Trust shall hold the Group II Interest Rate Swap Agreement, the rights in respect of the Swap Administration Agreement that relate to Loan Group II and the Group II Swap Account.

More Definitions of Group II Supplemental Interest Trust

Group II Supplemental Interest Trust. The corpus of a trust created pursuant to Section 3.22 of this Agreement and designated as the “Group II Supplemental Interest Trust,” consisting of the Group II Swap Agreement, the Group II Yield Maintenance Agreement, the rights in respect of the Derivative Administration Agreement that relate to Loan Group II and the Group Group II Supplemental Interest Trust Trustee: LaSalle Bank National Association, a national banking association not in its individual capacity but solely in its capacity as group II supplemental interest trust trustee and any successor thereto, and any corporation or national banking association resulting from or surviving any consolidation or merger to which it or its successors may be a party and any successor group II supplemental interest trust trustee as may from time to time be serving as successor group II supplemental interest trust trustee.

Group II Supplemental Interest Trust. The corpus of a trust created pursuant to Section 3.22 of this Agreement and designated as the “Group II Supplemental Interest Trust,” consisting of the Group II Swap Agreement, the Group II Yield Maintenance Agreement, the rights in respect of the Derivative Administration Agreement that relate to Loan Group II and the Group II Derivative Account. For the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Yield Maintenance Agreement, the Group II Derivative Account and the Derivative Administration Agreement do not constitute parts of the Trust Fund or any REMIC. Group II Supplemental Interest Trust Trustee: LaSalle Bank National Association, a national banking association not in its individual capacity but solely in its capacity as group II supplemental interest trust trustee and any successor thereto, and any corporation or national banking association resulting from or surviving any consolidation or merger to which it or its successors may be a party and any successor group II supplemental interest trust trustee as may from time to time be serving as successor group II supplemental interest trust trustee.

Group II Supplemental Interest Trust consisting of the Group II Interest Rate Swap Agreement, the rights in respect of the Swap Administration Agreement that relate to Loan Group II and the Group II Swap Account. For the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Interest Rate Swap Agreement, the Group II Swap Account and the Swap Administration Agreement do not constitute parts of the Trust Fund or any REMIC.