Loan REMIC means, with respect to any Early Defeasance Trust Mortgage Loan, subject to Section 2.06(b), the segregated pool of assets, as to which a separate REMIC election is to be made, consisting of: (i) such Trust Mortgage Loan (for so long as it is subject to this Agreement) and all payments under and proceeds of such Trust Mortgage Loan Received by the Trust after the Closing Date (other than scheduled payments of interest and principal due on or before the Cut-off Date), together with all documents included in the related Mortgage File; (ii) any REO Property acquired in respect of such Trust Mortgage Loan (for so long as it is subject to this Agreement) and all income and proceeds therefrom; (iii) such funds or assets as from time to time are deposited in the Pool Custodial Account, the Collection Account, the Interest Reserve Account and, if established, the Pool REO Account with respect to such Trust Mortgage Loan or any related REO Property; and (iv) insofar as they relate to such Trust Mortgage Loan or any related REO Property, the rights of the Depositor under the UBS/Depositor Mortgage Loan Purchase Agreement (but only if such Trust Mortgage Loan is a UBS Trust Mortgage Loan); provided that none of the Loan REMICs shall include (x) any collections of Additional Interest or (y) the Loss of Value Reserve Fund or any amounts on deposit therein.
Loan REMIC. The 800 Xxxxx Xxxxxx REMIC.
Loan REMIC. With respect to the Centene Whole Loan or the Centene Mortgage Loan, the Centene REMIC. With respect to the 1516 Motor Parkway Whole Loan or the 1516 Motor Parkway Mortgage Loan, the 1516 Motor Parkway REMIC. With respect to the 500 Delaware Whole Loan or the 500 Delaware Mortgage Loan, the 500 Delaware REMIC.
Examples of Loan REMIC in a sentence
Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.
The Class R-LR Certificates (if issued in accordance with Section 2.06) will represent the sole class of "residual interests" in each and every Loan REMIC, if any, for purposes of the REMIC Provisions under federal income tax law.
None of the Loan REMIC Regular Interests (if issued in accordance with Section 2.06) will be certificated.
The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to the Loan REMIC Regular Interests, if any, to the Trustee for the benefit of the Holders of the Class R-I Certificates and REMIC II as the holder of the REMIC I Regular Interests.
Each Loan REMIC Regular Interest, if any, shall: (i) bear a numeric designation that is the same as the loan number for the related Early Defeasance Trust Mortgage Loan set forth on the Trust Mortgage Loan Schedule; (ii) accrue interest at the related per annum rate described in the definition of "Loan REMIC Remittance Rate"; and (iii) have an initial Uncertificated Principal Balance equal to the Cut-off Date Balance of the related Early Defeasance Trust Mortgage Loan.
More Definitions of Loan REMIC
Loan REMIC. With respect to any Loan REMIC Held Mortgage Loan, the REMIC created under the related REMIC Declaration, which REMIC holds such Loan REMIC Held Mortgage Loan and other related assets. Because the Trust Fund will not include any Loan REMIC Held Mortgage Loan as of the Closing Date, there will be no Loan REMIC or related REMIC Declaration. Accordingly, all references in this Agreement to “Loan REMIC” shall be disregarded.
Loan REMIC means, with respect to the [Separately Serviced Mortgage Loan] and each Early Defeasance Mortgage Loan, the segregated pool of assets consisting primarily of such Mortgage Loan, any related REO Property, and any and all payments under and the proceeds of such Mortgage Loan and/or related REO Property received after the date of the related Loan REMIC Declaration.
Loan REMIC. Each of the 1414 & 1418 K Street Loan REMIC, the Japan Town Center Loan REMIC, the Riverside on the Jxxxx Loan REMIC and the Storage by Gxxxxx and Napa Valley Wine Storage Loan REMIC.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the 00 Xxxxxxx Xxxxxx Loan as from time to time subject to this Agreement and all payments under and proceeds of the 00 Xxxxxxx Xxxxxx Loan received after the Closing Date, together with all documents included in the related Mortgage Files; (ii) an allocable portion of the Trust Fund's proportionate interest in the Mortgaged Property related to the 11 Madison Loan acquired by the 2004-C10 Trustee; (iii) proceeds of the foregoing in the Certificate Account and the Distribution Account; and (iv) amounts in the Interest Reserve Account allocable to the 00 Xxxxxxx Xxxxxx Loan.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the Xxx Xxxx Xxxxxx Xxxxxx Xxxxxxxx X Note as from time to time subject to this Agreement and all payments under and proceeds of the One Post Office Square B Note received after the Closing Date, together with all documents included in the related Mortgage Files and any related Escrow Payments and reserves; (ii) an allocable portion of any REO Property acquired in respect of the One Post Office Square B Note; (iii) Withheld Amounts in the Interest Reserve Account with respect to the One Post Office Square B Note; (iv) the portion of the Certificate Account with respect to the One Post Office Square B Note and the Loan REMIC Distribution Account; (v) any amount held in the Gain-on-Sale Reserve Account with respect to the One Post Office Square B Note; (vi) the rights of the Depositor under Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17 and 18 of the Mortgage Loan Purchase Agreement with respect to the One Post Office Square B Note; and (vii) the rights of the mortgagee under all Insurance Policies with respect to the One Post Office Square B Note.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the Concord Mills Mortgage Loan as from time to time subject to this Agreement and xxx xayments under and proceeds of such Mortgage Loan received after the Closing Date, together with all documents included in the related Mortgage Files and any related Escrow Payments and reserves; (ii) any REO Property acquired in respect of the Concord Mills Mortgage Loan; (iii) Withheld Amounts in the Interest Reserve Accxxxx with respect to the Concord Mills Mortgage Loan; (iv) the Concord Mills Collection Account and the Xxxx REMIC Distribution Account; (v) axx xxount held in the Gain-on-Sale Reserve Account with respect to the Concord Mills Mortgage Loan; (vi) the rights of the Depositor under Sections 2, 0, 0, 10, 11, 12, 13, 14, 16, 17 and 18 of the Mortgage Loan Purchase Agreement with respect to the Concord Mills Mortgage Loan; and (vii) the rights of the mortgagee under all Inxxxxxce Policies with respect to the Concord Mills Mortgage Loan.
Loan REMIC. With respect to any Early Defeasance Trust Mortgage Loan, the segregated pool of assets consisting of: (i) the subject Trust Mortgage Loan, together with all documents included in the related Mortgage File and any related Escrow Payments and Reserve Funds; (ii) all amounts relating to the subject Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto (exclusive of any collections of any related Additional Interest and/or Excess Servicing Strip) held from time to time in the Interest Reserve Account, the Certificate Account, the Distribution Account, the Gain-on-Sale Reserve Account and the Pool REO Account; (iii) any REO Property acquired in respect of the subject Trust Mortgage Loan; (iv) the rights of the "purchaser" under Sections 1, 2 and 3 (and, to the extent related to the foregoing, Sections 8 through 17 and 19) of the related Mortgage Loan Purchase Agreement with respect to the subject Trust Mortgage Loan; (v) the rights of the mortgagee under all Insurance Policies with respect to the subject Trust Mortgage Loan, and (vi) the rights of the related Mortgage Loan Seller under any related Co-Lender Agreement or Outside Servicing Agreement.