Pooling REMIC 1 Regular Interests definition
Examples of Pooling REMIC 1 Regular Interests in a sentence
On each Distribution Date, the Trustee shall distribute the aggregate Principal Remittance Amount among the Pooling REMIC 1 Regular Interests in accordance with the amount of the Principal Remittance Amount attributable to the Mortgage Loan corresponding to each such Pooling REMIC 1 Regular Interest.
If such conveyance is deemed to be in respect of a loan and the trust created by this Agreement terminates prior to the satisfaction of the claims of any Person holding any Certificate or Pooling REMIC 1 Regular Interests, the security interest created hereby shall continue in full force and effect and the Trustee shall be deemed to be the collateral agent for the benefit of such Person, and all proceeds shall be distributed as herein provided.
The Pooling REMIC 1 Regular Interests may only be transferred in whole and not in part to no more than one LTURI-holder at a time who is either (1) an affiliate of the Master Servicer or (2) a trustee of a privately placed securitization.
The Trustee and the Depositor shall treat the Person in whose name the Pooling REMIC 1 Regular Interests are registered on the books of the Certificate Registrar as the LTURI-holder for all purposes hereunder.
The Certificateholders, by their purchase and acceptance of the Certificates or Pooling REMIC 1 Regular Interests, appoint Aurora Loan Services LLC, as Master Servicer.
The Certificate Account shall relate solely to the Certificates and to the Pooling REMIC 1 Regular Interests issued hereunder and funds in the Certificate Account shall be held separate and apart from and shall not be commingled with any other monies including, without limitation, other monies of the Trustee held under this Agreement.
For all Distribution Dates following the Distribution Date on which the Master Servicer purchases the Pooling REMIC 1 Regular Interests, all amounts that would be distributed on the related Certificates (other than the Class LT-R Certificate, and exclusive of amounts payable from any fund that is treated as an Excluded Trust Asset) absent such purchase shall be payable to the applicable LTURI-holder.
The Trustee is hereby appointed, and hereby accepts its appointment as, Certificate Registrar in respect of the Certificates (and, after a Section 7.01(d) Purchase Event, the Pooling REMIC 1 Regular Interests) and shall maintain books for the registration and for the transfer of Certificates (and, after a Section 7.01(d) Purchase Event, the Pooling REMIC 1 Regular Interests) (the “Certificate Register”).
If any payment required to be made on the Certificates or the Pooling REMIC 1 Regular Interests is to be made on a day that is not a Business Day, then such payment will be made on the next succeeding Business Day.
The Trustee and any Affiliate or agent of the Trustee in its individual or any other capacity may become the owner or pledgee of Certificates or the Pooling REMIC 1 Regular Interests and may transact banking and trust business with the other parties hereto and their Affiliates with the same rights it would have if it were not Trustee or such agent.