REMIC 3 Interests definition
Examples of REMIC 3 Interests in a sentence
The Master REMIC will consist of the REMIC 3 Interests and will be evidenced by the Certificates, which (other than the Class A-R Certificates) will constitute the regular interests in the Master REMIC (the "Regular Certificates") and the Class R-4 Interest, which will represent the single Class of "residual interest" in the Master REMIC.
The Master REMIC will hold as assets the several classes of uncertificated REMIC 3 Interests (other than the R-3-R Interest).
The Master REMIC will consist of the REMIC 3 Interests and will be evidenced by the Certificates (other than the Class A-R Certificates), which will constitute the regular interests in the Master REMIC (the "Regular Certificates") and the Class MR Interest, which will represent the single Class of "residual interest" in the Master REMIC.
REMIC 3 will consist of the REMIC 2 Interests and will be evidenced by the REMIC 3 Interests (other than the Class R3 Interests), which will constitute the regular interests in REMIC 3 and the Class R3 Interest, which will represent the single Class of “residual interest” in REMIC 3.
The Lower-Tier REMIC 3 Regular Interests shall have the initial Class Principal Amounts, pass-through rates and Corresponding Mortgage Pools as set forth in the following table: REMIC 3 Interests Initial Principal Amount Pass-Through Rate Corresponding Mortgage Pool Pool 11 (1) (2) 11 LT3-A-R (3) (3) A-R _______________ (1) This Lower-Tier Interest shall have an initial principal balance equal to the aggregate Stated Principal Balance of the Mortgage Loans in Pool 11 as of the Cut-off Date.
The Uncertificated REMIC 3 Interests shall constitute the "regular interests" in REMIC 3 and the Class 3-A-R1 Certificate shall be the sole class of "residual interests" in REMIC 3.
Such amounts distributed to the Uncertificated REMIC 3 Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "REMIC 3 Distribution Amount." Any distributions made to the Uncertificated REMIC 3 Interests pursuant to this paragraph shall be made from that portion of the Pool Distribution Amounts for Loan Group 3 relating to the WM Loans.
The Master REMIC will hold as assets the several classes of uncertificated REMIC 3 Interests.
The Master REMIC will consist of the REMIC 3 Interests and will be evidenced by the Master REMIC Interests (other than the Class R4 Interests), which will constitute the regular interests in the Master REMIC and the Class R4 Interest, which will represent the single Class of “residual interest” in the Master REMIC.
REMIC 1 shall hold as its assets the property of the Trust Fund other than the REMIC 1 Interests, the REMIC 2 Interests, the REMIC 3 Interests and the REMIC 4 Interests.