Examples of Majority Mortgage Loans in a sentence
The Trustee hereby acknowledges the assignment to it of the Majority Mortgage Loans and the Loan REMIC Regular Interests and, subject to Sections 2.01 and 2.02, the delivery to it, or a Custodian on its behalf, of the Mortgage Files and a fully executed original counterpart of each of the Mortgage Loan Purchase Agreements, together with the assignment to it of all of the other assets included in the Trust Fund.
REMIC I As provided herein, with respect to the Trust, the Trustee will make an election for the segregated pool of assets described in the first paragraph of Section 12.1(a) hereof (including the Majority Mortgage Loans and the 000 Xxxxxx Xxxxxx Pari Passu Loan REMIC Regular Interest) to be treated for federal income tax purposes as a real estate mortgage investment conduit ("REMIC I").
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 REMIC I Senior Regular Interest and all of the Majority Mortgage Loans to the Trustee for the benefit of the Holders of the Class R-II Certificates and REMIC III as the holder of the REMIC II Regular Interests.
REMIC I As provided herein, with respect to the Trust, the Paying Agent on behalf of the Trustee will make an election for the segregated pool of assets described in the first paragraph of Section 12.1(a) hereof (including the Majority Mortgage Loans and the Mall at Millenia Pari Passu Loan REMIC Regular Interest) to be treated for federal income tax purposes as a real estate mortgage investment conduit ("REMIC I").
Allied Capital Corporation shall be the initial Controlling Class Representative with respect to the Majority Mortgage Loans without need for further designation or notice.