Lower Tier Interest definition

Lower Tier Interest. As described in the Preliminary Statement.

Lower Tier Interest. Any one of the interests in the Lower-Tier REMIC, as described in the Preliminary Statement.

Lower Tier Interest. Any one of the interests in the Lower-Tier REMIC as described in the Preliminary Statement to this Agreement.

Examples of Lower Tier Interest in a sentence

• REMIC 2 shall hold as its assets the uncertificated Lower Tier Interests in REMIC 1, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC 1.

• The Upper Tier REMIC shall hold as its assets the uncertificated Lower Tier Interests in REMIC 3, other than the Class LT3-R interest, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC 3 for purposes of the REMIC Provisions.

• REMIC 2 shall hold as its assets the several classes of uncertificated Lower Tier Interests in REMIC 1, other than the Class LT1-R Interest, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC 1.

• REMIC 3 shall hold as its assets the uncertificated Lower Tier Interests in REMIC 2, other than the Class LT2-R interest, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC 2.

• REMIC 2 shall hold as its assets the uncertificated Lower Tier Interests in REMIC 1, other than the LT1-R interest, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC 1.

More Definitions of Lower Tier Interest

Lower Tier Interest. An interest in either the Subsidiary REMIC or the Intermediate REMIC, as described in the Preliminary Statement, those interests having an LT1 designation being interests in the Subsidiary REMIC and those having an LT2 designation being interests in the Intermediate REMIC.

Lower Tier Interest. Any one of the classes of lower tier interests described in the Preliminary Statement hereto.

Lower Tier Interest. Any one of the interests in a Lower Tier REMIC, as described in the Preliminary Statement. Lower Tier REMIC: REMIC I, as described in the Preliminary Statement. Maintenance: With respect to any Cooperative Unit, the rent or fee paid by the Mortgagor to the Cooperative Corporation pursuant to the Proprietary Lease.

Lower Tier Interest. An interest in any REMIC formed hereby other than the Upper Tier REMIC.

Lower Tier Interest. Any of the REMIC 1 Interests.

Lower Tier Interest. Any one of the interests in a Lower Tier REMIC, as described in the Preliminary Statement. Lower Tier REMIC: REMIC I or REMIC II, as described in the Preliminary Statement. Lower Tier REMIC 1 Uncertificated Regular Interests: Lower Tier Interests of REMIC I constituting regular interests held in uncertificated form. LTURI-holder: The holder of Lower Tier REMIC 1 Uncertificated Regular Interests, which, upon the occurrence of a Section 7.01(c) Purchase Event, shall be the Master Servicer or its designee, and including any trustee in its capacity as trustee of any privately placed securitization.

Lower Tier Interest. As described in the Preliminary Statement. Lower Tier REMIC 1 Uncertificated Regular Interests: Lower Tier Interests of REMIC 1 constituting regular interests held in uncertificated form pursuant to a Section 7.01(c) Purchase Event.