REMIC 1A definition

REMIC 1A. As specified in the Preliminary Statement.
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REMIC 1A. The segregated pool of assets subject hereto, constituting a primary trust created hereby and to be administered hereunder, with respect to which a REMIC election is to be made consisting of: (i) such Group I Mortgage Loans as from time to time are subject to this Agreement, together with the Mortgage Files relating thereto, and together with all collections thereon and proceeds thereof, (ii) any REO Property acquired with respect to a Group I Mortgage Loan, together with all collections thereon and proceeds thereof, (iii) the Trustee's rights with respect to the Group I Mortgage Loans under all insurance policies, including the PMI Policy, required to be maintained pursuant to this Agreement and any proceeds thereof, (iv) the Depositor's rights with respect to the Group I Mortgage Loans under the Mortgage Loan Purchase Agreement (including any security interest created thereby), (v) the obligations of the Guarantor to the Holders of the Guaranteed Certificates under the Guaranty and, (vi) solely to the extent that they relate to the Group I Mortgage Loans or payments or property received on or with respect to the Group I Mortgage Loans, the Collection Account, the Distribution Account (subject to the last sentence of this definition) and any REO Account and such assets that are deposited therein from time to time and any investments thereof, together with any and all income, proceeds and payments with respect thereto. Notwithstanding the foregoing, however, a REMIC election will not be made with respect to the Reserve Funds and Master Servicer Prepayment Charge Payment Amounts.
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REMIC 1A under clauses (i), (iii), (iv) and (vi) (to the extent of amounts deposited into the Distribution Account) and the definition of REMIC 1B under clauses (i), (iii), (iv) and (v) (to the extent of amounts deposited into the Distribution Account) and declares that it holds and will hold such documents and the other documents delivered to it constituting the Mortgage File, and all such assets and such other assets included in the definition of "REMIC 1A" and "REMIC 1B" in trust for the exclusive use and benefit of all present and future Certificateholders. The Trust Administrator agrees, for the benefit of the Certificateholders, to review each Mortgage File on or before the Closing Date, with respect to each Mortgage Loan and to certify to the Trustee, the Guarantor, the NIMS Insurer, the Depositor and the Master Servicer in substantially the form attached hereto as Exhibit F-1 that, as to each Closing Date Mortgage Loan listed in the Mortgage Loan Schedule (other than any Mortgage Loan paid in full or any Mortgage Loan specifically identified in the exception report annexed thereto as not being covered by such certification), (i) all documents constituting part of such Mortgage File (other than such documents described in Section 2.01(e)) required to be delivered to it pursuant to this Agreement are in its possession, (ii) such documents have been reviewed by the Trust Administrator and are not mutilated, torn or defaced unless initialed by the related borrower and relate to such Mortgage Loan and (iii) based on the Trust Administrator's examination and only as to the foregoing, the information set forth in the Mortgage Loan Schedule that corresponds to items (i), (ii), (ix), (xii), (xiv) (to the extent of the Periodic Rate Cap for the first Adjustment Date and subsequent Adjustment Dates) and (xvi) of the definition of "Mortgage Loan Schedule" accurately reflects information set forth in the Mortgage File. It is herein acknowledged that, in conducting such review, the Trust Administrator was under no duty or obligation (i) to inspect, review or examine any such documents, instruments, certificates or other papers to determine whether they are genuine, enforceable, or appropriate for the represented purpose (including with respect to Section 2.01(f), whether such title insurance policy (a) contains all necessary endorsements, (b) insures the priority of the Mortgage as a first lien or (c) whether the interest vested in the Mortgagor is a fee interest) or whe...
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Examples of REMIC 1A in a sentence

  • In addition, Subsidiary REMIC 1A shall issue the R-1a interest and shall designate such interest as its sole class of residual interest.

  • For the purposes of the REMIC election in respect of REMIC 1A, the REMIC 1A Regular Interests shall be designated as the Regular Interests in REMIC 1A and the Class R-1A Interest shall be designated as the Residual Interest in REMIC 1A.

  • The REMIC 1A Regular Interests will represent the “regular interests” in REMIC 1A, and the Class R1A Interest will represent the single Class of “residual interest” in REMIC 1A.

  • The Class R-1A Interest will represent the single Class of "residual interest" in REMIC 1A and the Class R-1B Interest will represent the single Class of "residual interest" in REMIC 1B.

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  • REMIC 1A will issue uncertificated REMIC regular interests (the “REMIC 1A Regular Interests”).

  • In lieu of repurchasing any such Mortgage Loan as provided above, if so provided in the Mortgage Loan Purchase Agreement, the Seller may cause such Mortgage Loan to be removed from REMIC 1A or REMIC 1B (in which case it shall become a Deleted Mortgage Loan) and substitute one or more Qualified Substitute Mortgage Loans in the manner and subject to the limitations set forth in Section 2.03(d).

  • REMIC 1B will issue uncertificated REMIC regular interests (the “REMIC 1B Regular Interests” and collectively with the REMIC 1A Regular Interests, the “REMIC 1 Regular Interests”).

  • Each of REMIC 1A and REMIC 1B will issue uncertificated REMIC regular interests (the "REMIC 1A Regular Interests" and the "REMIC 1B Regular Interests", respectively, and collectively, the "REMIC 1 Regular Interests").

  • REMIC 1A will consist of Loan Group 1, excluding any rights of the Class C Certificates in respect of any Auction Excess Proceeds, any rights of the Trust Fund in respect of the Corridor Contract Agreements and the Reserve Fund.


More Definitions of REMIC 1A

REMIC 1A. The segregated pool of assets consisting of all of the REMIC 0A Regular Interests conveyed in trust to the Trustee, for the benefit of REMIC 2, as holder of the REMIC 1A Regular Interests and the Class R Certificateholders, as holders of the Class R-1A Interest, pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
Sample 1
REMIC 1A. The following table specifies the class designation, interest rate, and principal amount for each class of REMIC 1A Interests:
Sample 1
REMIC 1A. REMIC 1B," "REMIC 2," and "REMIC 3"). The Certificates will represent the entire beneficial ownership interest in the Trust Fund. The Group I Loans will constitute the assets of REMIC 1A, and REMIC 1A will issue two uncertificated regular interests that will constitute a portion of the assets of REMIC 2. The Group II Loans will constitute the assets of REMIC 1B, and REMIC 1B will issue two uncertificated regular interests that will constitute a portion of the assets of REMIC 2. REMIC 1A and REMIC 1B regular interests will constitute the assets of REMIC 2. REMIC 2 will issue six uncertificated regular interests that will constitute the assets of REMIC 3. The Class R-1A, Class R-1B, Class R-2, and Class R-3 Interests will be the residual interests in each of REMIC 1A, REMIC 1B, REMIC 2, and REMIC 3, respectively. The Class AF-1 and Class AV-1 Certificates (exclusive of any right to receive Net WAC Cap Carryover) and the Class AF-2, Class AF-3, Class AF-4, Class A-IO and Class X Certificates (exclusive of any associated right to receive payments from the Spread Accounts) will represent the "regular interests" in REMIC 3 and the Class R Certificates will represent the single "residual interest" in each of REMIC 1A, REMIC 1B, REMIC 2, and REMIC 3. All interests created hereby will be retired on or before the Latest Possible Maturity Date. REMIC 1A The following table sets forth the class designation, the initial notional balance, the pass-through rate, and the rate change date for each REMIC 1A regular interest.
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REMIC 1A. REMIC 1B", "REMIC 2" and the "Master REMIC"). Each Certificate, other than the Class A-R Certificate, will represent ownership of one or more regular interests in the Master REMIC for purposes of the REMIC Provisions. The Class A-R Certificate represents ownership of the sole class of residual interest in each REMIC created hereunder. The Master REMIC will hold as assets the REMIC 2 Regular Interests. The REMIC 2 will hold as assets the REMIC 1A Regular Interests and REMIC 1B Regular Interests. REMIC 1A will hold as assets all property of the Trust Fund relating to the Aggregate Loan Group I Mortgage Loans (excluding the Supplemental Interest Trust, Supplemental Interest Reserve Fund and the Corridor Contract). REMIC 1B will hold as assets all property of the Trust Fund relating to the Group 5 Mortgage Loans (excluding the Supplemental Interest Trust, Supplemental Interest Reserve Fund and the Corridor Contract). For federal income tax purposes, each Certificate (other than the Class A-R Certificate) is hereby designated as a regular interest in the Master REMIC and each REMIC 1A Regular Interest, REMIC 1B Regular Interest and REMIC 2 Regular Interest, as defined below, is designated as a regular interest in REMIC 1A, REMIC 1B and REMIC 2, respectively. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. All amounts in respect of waived Prepayment Charges paid by the Servicer to the Class P Certificates pursuant to the second paragraph of Section 3.20 will be treated as paid directly by the Servicer to the Class P Certificates and not as paid by or through any REMIC created under this Agreement. The Supplemental Interest Trust, Supplemental Interest Reserve Fund and the Corridor Contract shall not constitute any part of any REMIC described in this Agreement. REMIC 1A The REMIC 1A Regular Interests will have the initial principal balance, Pass-Through Rates and corresponding Loan Groups as set forth in the following table:
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Related to REMIC 1A

  • REMIC 1 As described in the Preliminary Statement.

  • REMIC 2 As described in the Preliminary Statement.

  • REMIC 4 The segregated pool of assets consisting of the Class C Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class C Certificates and the Class R-X Certificates (in respect of the Class R-4 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • REMIC 2 Regular Interests One of the separate non-certificated beneficial ownership interests in REMIC 2 issued hereunder and designated as a Regular Interest in REMIC 2. Each REMIC 2 Regular Interest shall accrue interest at the related Uncertificated REMIC 2 Pass-Through 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 Principal Balance as set forth in the Preliminary Statement hereto. The following is a list of each of the REMIC 2 Regular Interests: REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTA1, REMIC 2 Regular Interest LTA2, REMIC 2 Regular Interest LTA3, REMIC 2 Regular Interest LTA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10, REMIC 2 Regular Interest LTZZ, REMIC 2 Regular Interest LTP and REMIC 2 Regular Interest LTIO.

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

  • REMIC V The segregated pool of assets consisting of the Class P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class P Certificates and the Class RX Certificate (in respect of the Class R-5 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC 1 Regular Interests REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1P.

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

  • REMIC 3 The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the Class R Certificate (in respect of the Class R-3 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

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

  • REMIC 1 Regular Interest Each of the REMIC 1 Interests other than the Class LT1-R Interest.

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.

  • REMIC I Regular Interests The Classes of undivided beneficial interests in REMIC I designated as “regular interests” in the table titled “REMIC I Interests” in the Preliminary Statement hereto. The REMIC I Regular Interests, together with the Class R-1 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • REMIC III Regular Interests The Classes of undivided beneficial interests in REMIC III designated as “regular interests” in the table titled “REMIC III Interests” in the Preliminary Statement hereto.

  • REMIC II Regular Interests The Classes of undivided beneficial interests in REMIC II designated as “regular interests” in the table titled “REMIC II Interests” in the Preliminary Statement hereto. The REMIC II Regular Interests, together with the Class R-2 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • 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 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.

  • REMIC Regular Interests The REMIC I Regular Interests and REMIC II Regular Interests.

  • REMIC III Regular Interest The Class CE Interest, Class P Interest, Class IO Interest or any Regular Interest in REMIC III the ownership of which is represented by any of the Class A Certificates or Class M Certificates.

  • REMIC VI The segregated pool of assets consisting of the Class IO Interest conveyed in trust to the Trustee, for the benefit of the Holders of REMIC VI Regular Interest IO and the Class RX Certificate (in respect of the Class R-6 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC Regular Interest Any REMIC I Regular Interest or REMIC II Regular Interest.

  • Uncertificated REMIC I Regular Interests The Uncertificated REMIC I Regular Interests Z together with the interests identified in the table below, each representing an undivided beneficial ownership interest in REMIC I, and having the following characteristics:

  • REMIC III The segregated pool of assets consisting of all of the REMIC II Regular Interests conveyed in trust to the Trustee, for the benefit of the REMIC III Certificateholders pursuant to Section 2.07, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • REMIC I Regular Interest I-LTP One of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a Regular Interest in REMIC I. REMIC I Regular Interest I-LTP shall be entitled to any Prepayment Charges collected by the Master Servicer and to a distribution 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.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.