REMIC 3 Regular Interest definition

REMIC 3 Regular Interest. The Class C Interest, Class P Interest, Class IO Interest and any “regular interest” in REMIC 3 the ownership of which is represented by a Class A Certificate or Class M Certificate.

REMIC 3 Regular Interest. Each of the REMIC 3 Interests other than the Class LT3-R Interest.

REMIC 3 Regular Interest. Any of the separate non-certificated beneficial ownership interests in REMIC 3 issued hereunder and designated as a Regular Interest in REMIC 3. Each REMIC 3 Regular Interest shall accrue interest at the related Uncertificated REMIC 3 Pass-Through Rate in effect from time to time, and (except for the REMIC 3 Regular Interests 1-IO and 2-IO) 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 designations for the respective REMIC 3 Regular Interests are set forth in the Preliminary Statement hereto. The REMIC 3 Regular Interests consist of the REMIC 3 Group 1 Regular Interests and REMIC 3 Group 2 Regular Interests.

Examples of REMIC 3 Regular Interest in a sentence

• Each REMIC 3 Regular Interest is hereby designated as a regular interest in REMIC 3.

• However, any payment from the Certificates (other than the Class C, Class P and Class R Certificates) of a Class IO Distribution Amount shall be treated for tax purposes as having been received by the Holders of such Certificates in respect of the REMIC 3 Regular Interest ownership of which is represented by such Certificates, and as having been paid by such Holders to the Supplemental Interest Trust pursuant to the notional principal contract.

• Thus, each Certificate (other than the Class P, Class R and Class R-X Certificates) shall be treated as representing not only ownership of a REMIC 3 Regular Interest, but also ownership of an interest in, and obligations with respect to, a notional principal contract.

• As a result of the foregoing, the amount of distributions and taxable income on the REMIC 3 Regular Interest corresponding to a Class A or Class M Certificate may exceed the actual amount of distributions on the Class A or Class M Certificate.

• For federal income tax purposes, any amounts paid to the Swap Provider on each Distribution Date shall first be deemed paid to the Swap Provider in respect of REMIC 3 Regular Interest SWAP IO to the extent of the amount distributable on REMIC 3 Regular Interest SWAP IO on such Distribution Date, and any remaining amount shall be deemed paid to the Swap Provider in respect of a Class IO Distribution Amount (as defined below).

More Definitions of REMIC 3 Regular Interest

REMIC 3 Regular Interest. Any one of the "regular interests" in REMIC 3 described in the Preliminary Statement.

REMIC 3 Regular Interest. Any of the Class LT3-1A Interest, Class LT3-1B Interest, the Class LT3-2A Interest, Class LT3-2B Interest, Class LT3-3A Interest, Class LT3-3B Interest, Class LT3-4A Interest, Class LT3-4B Interest, Class LT3-5A Interest, Class LT3-5B Interest and Class LT3-Z Interest.

REMIC 3 Regular Interest. Any of the Class T3-1, Class T3-2, Class T3-3, ------------------------ Class T3-4, Class T3-5, Class T3-6, Class T3-7, Class T3-8, and Class T3-9

REMIC 3 Regular Interest. As specified in the Preliminary Statement.

REMIC 3 Regular Interest. One of the separate non-certificated beneficial ownership interests in REMIC 3 issued hereunder and designated as a Regular Interest in REMIC 3 as set forth in the Preliminary Statement. Each REMIC 3 Regular Interest shall accrue interest at the related Uncertificated REMIC 3 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, if any, as set forth in the Preliminary Statement hereto.

REMIC 3 Regular Interest. Any of the eighteen certificated or uncertificated beneficial ownership interests in REMIC 3 issued hereunder, and, hereby, designated as a “regular interest” in REMIC 3, as follows: REMIC 3 Regular Interest I-X-0, X-XX, XX-X-0, XX-X-0, XX-X-0, II-IO, III-A-1, III-A-2, III-A-3, III-IO, A-PO, B-0, X-0, X-0, X-0, X-0, B-6 and P. Each of the REMIC 3 Regular Interest I-A-1, III-PO, B-0, X-0, X-0, X-0, X-0, B-6 and P shall be certificated, as such. Each of the REMIC 3 Regular Interests identified in the table below shall not be certificated (an “Uncertificated REMIC 3 Regular Interest”), rights therein shall be evidenced by the related class of Exchangeable and Exchanged Certificates, as applicable, and shall have the following characteristics:

REMIC 3 Regular Interest. Any of (i) the Class 1-A1, Class 1-A2, Class 2-A, Class 3-A, Class 3-AX, Class 4-A1, Class 4-A2, Class 5-A1, Class 5-A2, Class B1X, Class B2X, Class B3X, Class B4X, Class B5X, Class B6, Class B7X, Class B8, Blass B9, Class B12 and Class B13 Certificates and (ii) the uncertificated REMIC regular interests represented by (w) each of the Class Z Components and (x) the rights associated with the Class B1, Class B2, Class B3, Class B4, Class B5, Class B7, Class B10, Class B10X, Class B11 and Class B11X Certificates other than rights to receive payments in respect of Floating Rate Certificate Shortfalls and Excess REMIC Payments.