Lower Tier REMIC I definition

Lower Tier REMIC I. As described in the Preliminary Statement.
Sample 1Sample 2
Lower Tier REMIC I. The corpus of one of the Trusts created by this Trust Agreement and designated on the Lower Tier Schedule as “Lower Tier REMIC I,” consisting of (i) the Mortgage Securities (other than the Underlying Redeemable Certificate) and all proceeds thereof and (ii) Certificate Account I and all amounts held therein or credited thereto.
Sample 1
Lower Tier REMIC I. The corpus of one of the REMICs created by this Trust Agreement, consisting of (i) the Group 1 SMBS, Group 2 SMBS, Group 4 MBS, Group 5 MBS and Group 6 SMBS; (ii) all proceeds of the foregoing Mortgage-Backed Securities; and (iii) the Certificate Account and all amounts held therein or credited thereto.
Sample 1

Examples of Lower Tier REMIC I in a sentence

  • Lower-Tier REMIC I shall hold the uncertificated interests issued by Pooling REMIC I and shall issue several uncertificated interests.

  • The LT1-R Interest is hereby designated as the sole residual interest in Lower-Tier REMIC I.

  • Middle-Tier REMIC IA shall hold the uncertificated interests issued by Lower-Tier REMIC I, other than the LT1-R Interest, and shall issue several uncertificated interests.

  • Lower-Tier REMIC I The following table sets forth (or describes) the designation, interest rate, and initial principal balance for each interest in Lower-Tier REMIC I, each of which, other than the LT-RI Interest, is hereby designated as a regular interest (each, a “REMIC LT-I Regular Interest).

  • The services may supplement functions that are performed by Company employees and are not in lieu of the services performed by such employees.

  • As provided herein, an election shall be made that portions of the Trust Fund be treated for federal income tax purposes as comprising four real estate mortgage investment conduits under Section 860D of the Code (each a “REMIC” or, in the alternative, Lower-Tier REMIC I, Lower-Tier REMIC II, REMIC 2 and REMIC 3 (REMIC 3 also being referred to as the “Upper Tier REMIC”)).

  • Lower-Tier REMIC I shall hold as its assets the Pool I Mortgage Loans and any related assets and Lower Tier REMIC II shall hold as assets the Pool II Mortgage Loans and related assets.

  • REMIC 2 shall hold as its assets the several Classes of uncertificated interests in Lower-Tier REMIC I and Lower-Tier REMIC II, other than the LT-RI and LTR-II Interests, and each such interest is hereby designated as a regular interest in Lower-Tier REMIC I or Lower-Tier REMIC II, as applicable, for purposes of the REMIC Provisions.

  • Specifically, Pooling REMIC I, Lower-Tier REMIC I, Middle-Tier REMIC IA, Middle-Tier REMIC IB, and Upper-Tier REMIC I shall relate to Pool 1 and Pool 2 and Pooling REMIC II, Lower-Tier REMIC II, Middle-Tier REMIC II, and Upper-Tier REMIC II shall relate to Pool 3.

  • The LTI-R Interest is hereby designated as the sole residual interest in Lower-Tier REMIC I.


More Definitions of Lower Tier REMIC I

Lower Tier REMIC I. As defined in the Prospectus Supplement.
Sample 1
Lower Tier REMIC I. The Lower Tier REMIC I as described in the Preliminary Statement hereto.
Sample 1
Lower Tier REMIC I. The corpus of one of the Trusts created by this Trust Agreement, consisting of (i) the Group 1 MBS, the Group 3 MBS and the Underlying REMIC Certificate and all proceeds thereof and (ii) Certificate Account I and all amounts held therein or credited thereto.
Sample 1

Related to Lower Tier REMIC I

  • Lower-Tier REMIC As described in the Preliminary Statement.

  • Upper-Tier REMIC As described in the Preliminary Statement.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • Upper-Tier Regular Interest As described in the Preliminary Statement.

  • Middle-Tier REMIC As described in the Preliminary Statement.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Lower-Tier Regular Interest Each of the Class LT-A-1, Class LT-A-2, Class LT-M-1, Class LT-M-2, Class LT-B-1 and Class LT-Accrual Interests as described in the Preliminary Statement.

  • Lower-Tier Regular Interests The respective classes of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Lower-Tier REMIC, designated as the Class XX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-AB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG and Class LVRR Lower-Tier Regular Interests.

  • REMIC I Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a "regular interest" in REMIC I. Each REMIC I Regular Interest shall accrue interest at the related REMIC I Remittance Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC I Regular Interests are set forth in the Preliminary Statement hereto.

  • REMIC IV The segregated pool of assets consisting of the Class CE Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class CE Certificates and the Class RX Certificate (in respect of the Class R-4 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC A "real estate mortgage investment conduit" within the meaning of Section 860D of the Code.

  • REMIC I Assets All of the Mortgage Pool Assets.

  • Uncertificated Lower-Tier Interest A regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and is entitled to monthly distributions as provided in Section 5.02(a) hereof. Any of the Class 1-L Interest, Class 1-LS Interest, Class 2-L Interest, Class 2-LS Interest, Class 3-L Interest, Class 3-LS Interest, Class 4-L Interest and Class 4-LS Interest are Uncertificated Lower-Tier Interests.

  • REMIC 2 Regular Interest Each of the REMIC 2 Interests other than the Class LT2-R Interest.

  • REMIC II Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a “regular interest” in REMIC II. Each REMIC II Regular Interest shall accrue interest at the related REMIC II Remittance Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC II Regular Interests are set forth in the Preliminary Statement hereto.