REMIC 6 definition

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.
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REMIC 6. The segregated pool of assets consisting of the Class B-2 Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class B-2 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.
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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.
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Examples of REMIC 6 in a sentence

  • 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 6 Regular Interest SWAP IO to the extent of the amount distributable on REMIC 6 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).

  • The Holder of the Class R-X Certificate at any time holding the largest Percentage Interest thereof shall be the Tax Matters Person with respect to REMIC 4, REMIC 5 and REMIC 6, and shall act as Tax Matters Person for each such REMIC.

  • The Holder of the Class R-X Certificate at any time holding the largest Percentage Interest thereof shall be the Tax Matters Person with respect to REMIC 5, REMIC 6 and REMIC 7 and shall act as Tax Matters Person for REMIC 5, REMIC 6 and REMIC 7.

  • 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.

  • The Holder of the Class R-X Certificate at any time holding the largest Percentage Interest thereof shall be the Tax Matters Person with respect to REMIC 4, REMIC 5 and REMIC 6 and shall act as Tax Matters Person for REMIC 4, REMIC 5 and REMIC 6.

  • The Holder of the Class R-X Certificate at any time holding the largest Percentage Interest thereof shall be the Tax Matters Person with respect to REMIC 4, REMIC 5 and REMIC 6 and shall act as Tax Matters Person for each such REMIC.

  • 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 Class R-6 Interest, together with the Class B-3 Certificates, constitute the entire beneficial ownership interest in REMIC 6.

  • REMIC 1 shall hold as its assets the property of the Trust Fund other than the (i) Lower Tier Interests in REMIC 1, REMIC 2, REMIC 3, REMIC 4, REMIC 5 and REMIC 6, (ii) the Pre-Funding Account, (iii) the Basis Risk Reserve Fund and (iv) the prepayment penalties received on the mortgage loans other than the Pledged Prepayment Penalties.

  • The Holder of the Class R-X Certificate at any time holding the largest Percentage Interest thereof shall be the Tax Matters Person with respect to REMIC 6, REMIC 7 and REMIC 8 and shall act as Tax Matters Person for each such REMIC.


More Definitions of REMIC 6

REMIC 6. As defined in the Preliminary Statement.
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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
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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.
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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 --------------------------------------------------------------------------------
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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.
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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.
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Related to REMIC 6

  • 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 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 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.

  • 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 2 As described in the Preliminary Statement.

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

  • REMIC: A real estate mortgage investment conduit" as defined in Code Section 860D.

  • 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.

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

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

  • 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 1 As described in the Preliminary Statement.

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

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

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

  • 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 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 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 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 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 III CERTIFICATES has the meaning set forth in the final paragraph of the Preliminary Statement hereto.

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

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