REMIC 6. The segregated pool of assets consisting of the Class SWAP-IO Interest conveyed in trust to the Trustee, for the benefit of the Holders of REMIC 6 Regular Interest SWAP-IO and the Class R-X Certificate (in respect of the Class R-6 Interest), pursuant to Section 2.07, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 6. The segregated pool of assets consisting of the Class X/N Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class N Certificates and the Class X Certificates and the Class R-X Certificate (in respect of the Class R-6 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 6. 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 R-X Certificates (in respect of the Class R-6 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
Examples of REMIC 6 in a sentence
Conveyance of REMIC Regular Interests and Acceptance of REMIC 2, REMIC 3, REMIC 4, REMIC 5 and REMIC 6 by the Trustee; Issuance of Certificates.
For federal and state income tax purposes, the Class X/N Certificateholders will be deemed to be the owners of the LIBOR Carryover Reserve Account and all amounts deposited into the LIBOR Carryover Reserve Account shall be treated as amounts distributed by REMIC 6 to the Holders of the Class X/N Certificates.
The Upper-Tier REMIC shall hold as its assets the several classes of uncertificated Lower Tier Interests in REMIC 6, other than the Class LT6-R Interest, and each such Lower Tier Interest is hereby designated as a regular interest in REMIC 6 for purposes of the REMIC Provisions.
The Class R Certificates represent ownership of the sole class of residual interest in each of REMIC 1, REMIC 2, REMIC 3, REMIC 4, REMIC 5, REMIC 6 and the Upper-Tier REMIC for purposes of the REMIC Provisions.
Any portion of the Available Funds remaining in REMIC 5 or REMIC 6 on a Distribution Date shall be distributed to the Class R-5 or Class R-6 Certificates, respectively.
More Definitions of REMIC 6
REMIC 6. As defined in the Preliminary Statement.
REMIC 6. The Class R-6 Interest represents the sole class of "residual interests" in the Class X/N REMIC for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for the Class of Certificates that represent the "regular interest" in the Class X/N REMIC created hereunder: Original Class Pass-Through Certificate Principal Class Designation Rate Balance ------------------------ ------------------- --------------------- Class X/N............. Variable(1) $14,600,000
REMIC 6. As provided herein, the Securities Administrator shall make an election to treat the segregated pool of assets consisting of the Class P REMIC 4 Regular Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 6." The Class R-X-6 Interest represents the sole class of "residual interests" in REMIC 6 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, initial Uncertificated Balance, Pass-Through Rate and Latest Possible Maturity Date for each Class of REMIC 6 Regular Interests comprising the "regular interests" in REMIC 6 for purposes of the REMIC Provisions. -------------------------------------------------------------------------------- Initial Uncertificated Pass-Through Rate Latest Possible Maturity Class Balance ---------------- Date(1) ----- ---------------------- ------------------------ P $100 (2) January 25, 2037 --------------------------------------------------------------------------------
REMIC 6. The segregated pool of assets consisting of the Class IO Interest conveyed in trust to the Trustee, pursuant to Section 2.05, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 6. The segregated pool of assets consisting of all of the Class M-6 Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class M-6 Certificates and the Class RX Certificate (in respect of the Class R-6 Interest), and all amounts deposited therein, with respect to which a separate REMIC election is to be made. REMIC 6 will not include the Yield Maintenance Agreement, the Reserve Fund, the Net WAC Rate Carryover Arrangement, the Prepayment Charges, the Servicer Prepayment Charge Payment Amounts or the Transferor Servicer Prepayment Charge Payment Amounts.
REMIC 6. The segregated pool of assets consisting of the Class M-10 Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class M-10 Certificates and the Class R-X Certificates (in respect of the Class R-6 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 6. All amounts deemed distributed in respect of the REMIC 2 B-2 Interest shall be treated as received by REMIC 6 then distributed by REMIC 6 in respect of the REMIC 6 B-2 Interest. All allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts to the REMIC 2 B-2 Interest shall result in similar allocations to the REMIC 6 B-2 Interest. If on any Distribution Date the Class Principal Balance of the Class B-2 Certificates is increased pursuant to the last sentence of the definition of "Certificate Principal Balance", then there shall be an equivalent increase in the principal amount of the REMIC 6 B-2 Interest on such Distribution Date.