Examples of Issuing REMIC in a sentence
The Certificates in the aggregate will represent the entire beneficial ownership interest in the Trust Estate (or in the Issuing REMIC, if any).
In accordance with Section 10.01 of the Standard Terms, the Trustee will make an election to treat all of the assets of the Trust as two real estate mortgage investment conduits (each, a "REMIC" and, individually, the "Pooling REMIC" and the "Issuing REMIC") for federal income tax purposes.
Following the division of the Class R Certificates into two separately transferable, certificated and fully registered certificates in accordance with Section 11(b) hereof, the Class R-1 and Class R-2 Certificates shall have no Certificate Principal Balances and no Pass-Through Rates and shall represent the residual interest in the Issuing REMIC and the Pooling REMIC, respectively.
The Class R Certificates are the residual interest in the Issuing REMIC.
For all federal tax purposes, amounts transferred by any of the Pooling REMIC, the Intermediate REMIC, or the Issuing REMIC to the Capitalized Interest Account shall be treated as amounts distributed by the applicable REMIC to OMI.