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 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.
Examples of Loan REMIC in a sentence
None of the Loan REMIC Regular Interests (if issued in accordance with Section 2.06) will be certificated.
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.
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, issued with respect to, and relating to, an Early Defeasance Trust Mortgage Loan in a Loan REMIC, shall also relate to any successor REO Trust Mortgage Loan with respect to such Early Defeasance Trust Mortgage Loan.
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. 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 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. 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 One Post Office Square Mortgage B Note as from time to time subject to xxxx Xxxxxxxxx xxx xxx xxxxxxxx xnder 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 11 Madison Avenue Loan as from time xx xxxx xxxxxxx xo this Agreement and all payments under and proceeds of the 11 Madison Avenue Loan received aftex xxx Xxxxxxx Xxxe, 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 11 Madison Avenue Loan.
Loan REMIC. The segregated pool of assets consisting of: (i) the [ABC] 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 [ABC] Mortgage Loan or any successor REO Mortgage Loan with respect thereto 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 [ABC] Mortgage Loan; (iv) the rights of the Depositor under the [____________________] Mortgage Loan Purchase Agreement with respect to the [ABC] Mortgage Loan; and (v) the rights of the mortgagee under all Insurance Policies with respect to the [ABC] Mortgage 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 Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan as from time to time subject to this Agreement and all payments under and proceeds of such Mortgage Loans 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 Battlefield Mall Mortgage Loan or the Alliance Center Mortgage Loan; (iii) Withheld Amounts in the Interest Reserve Account with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan; (iv) the Battlefield Mall Collection Account, the Alliance Center Collection Account and the Loan REMIC Distribution Account; (v) any amount held in the Gain-on-Sale Reserve Account with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan; (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 Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan; and (vii) the rights of the mortgagee under all Insurance Policies with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan.
Loan REMIC. The segregated pool of assets consisting of: (i) a Trust Early Defeasance Mortgage Loan and all payments under and proceeds of such Trust Mortgage Loan received after the Closing Date (exclusive of any related Excess Servicing Strip, 500 Xxxxxx Town Center Deferred Interest, 500 Xxxxxx Town Center Repurchase Charge and/or Additional Post-ARD Interest), together with all documents included in the related Mortgage File and any related Escrow Payments and Reserve Funds; (ii) all amounts (exclusive of any related Excess Servicing Strip, 500 Xxxxxx Town Center Deferred Interest, 500 Xxxxxx Town Center Repurchase Charge and/or Additional Post-ARD Interest) relating to such Trust Mortgage Loan or any successor Trust REO Loan with respect thereto held from time to time in the Interest Reserve Account, the applicable Collection Account, the Distribution Account, the Gain-on-Sale Reserve Account and any REO Account; (iii) any interest in any REO Property acquired in respect of such Trust Mortgage Loan; (iv) the rights of the Depositor under Sections 2 and 3 (and, to the extent related to the foregoing, Sections 8 through 18 and 20) of the applicable Mortgage Loan Purchase Agreement with respect to such Trust Mortgage Loan; and (v) the rights of the mortgagee under all Insurance Policies with respect to such Trust Mortgage Loan.