REMIC 1B Interest definition

REMIC 1B Interest. As specified in the Preliminary Statement.
Sample 1Sample 2Sample 3
REMIC 1B Interest. Any one of the REMIC 2 Interests or the R-2 Interest.
Sample 1Sample 2
REMIC 1B Interest. (the "Accrual Class") has an Original Class Principal Balance equal to the sum of (1) 50% of the aggregate initial stated principal balances of the Mortgage Loans in the Related Loan Group, (2) 50% of the amount of overcollateralization of the Related Loan Group and (3) 50% of the Net Deferred Interest of the Related Loan Group, for such Distribution Date.
Sample 1

Examples of REMIC 1B Interest in a sentence

  • Each REMIC 1B Interest (other than the Class R-1B Interest) is hereby designated as a regular interest in REMIC 1B.

  • Interest is to be distributable with respect to each REMIC 1B Interest at the rate, or according to the formulas, described above.

Related to REMIC 1B Interest

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • 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.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • 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.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

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

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

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • REMIC 1 As described in the Preliminary Statement.

  • Lower Tier Interest As described in the Preliminary Statement.

  • REMIC II Interests means, collectively, the REMIC II Regular Interests and the Class R-II Certificates.

  • 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.

  • 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.

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Subsidiary REMIC Regular Interest Any one of the "regular interests" in the Subsidiary REMIC described in the Preliminary Statement.