Loan REMIC Regular Interests definition
Examples of Loan REMIC Regular Interests 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.
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.
Notwithstanding the foregoing, however, if the Trust Fund does not include Early Defeasance Trust Mortgage Loans, then (i) there will be no Loan REMICs, (ii) neither the Class R-LR Certificates nor any Loan REMIC Regular Interests will be issued and (iii) the provisions of Section 2.06(b) will apply.
The Trustee acknowledges the assignment to it of the Loan REMIC Regular Interests, if any, and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class R-I Certificates, the Class R-II Certificates and the REMIC III Certificates.
The Trustee acknowledges the assignment to it of the Loan REMIC Regular Interests, if any, and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class R-I Certificates and REMIC II as the holder of the REMIC I Regular Interests.
If an REO Acquisition shall occur, the Special Servicer shall establish and maintain one or more REO Accounts, held on behalf of the Trustee in trust for the benefit of the Certificateholders and, if applicable, the Companion Holder, as their interest shall appear, and the Trustee (as holder of the Uncertificated Lower-Tier Interests and Loan REMIC Regular Interests), for the retention of revenues and other proceeds derived from each REO Property.
Subject to the foregoing, however, the Special Servicer shall have full power and authority to do any and all things in connection therewith as are in the best interests of and for the benefit of the Certificateholders (and, in the case of each Loan Pair, the related Companion Holder) and the Trustee (as holder of the Loan REMIC Regular Interests and the Uncertificated Lower-Tier Interests) (as determined by the Special Servicer in its reasonable judgment in accordance with the Servicing Standards).
Bidders must adhere to the inspection dates and times indicated in the item description or contact the person listed to schedule an inspection.
For purposes of the REMIC election in respect of the Loan REMIC, each Class of Loan REMIC Regular Interests shall be designated as the "regular interests" and the Loan REMIC Residual Interest, represented by the Class LR Certificates, shall be designated as the sole class of "residual interests" in the Loan REMIC.