REMIC Account definition

REMIC Account. Any account or accounts that are required to be established (in the same manner as the Certificate Account is established) and maintained pursuant to Section 12.04.
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Examples of REMIC Account in a sentence

  • To the extent that the Upper Tier REMIC Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Upper Tier REMIC Account shall be deemed to refer to credits and debits to the related books of the Trustee.

  • Unless otherwise specified in the related Issue Supplement, distributions on the Lower Tier Regular Interests shall be made by the Trustee for the Lower Tier Trust Fund to the Trustee for the related Upper Tier Trust Fund by transfer of immediately available funds to the related Upper Tier REMIC Account.

  • To the extent that the Base REMIC Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Base REMIC Account shall be deemed to refer to credits and debits to the related books of the Trustee.

  • Distributions on the Certificates of the Base REMIC Regular Classes on any Distribution Date shall be made to the Holders of record thereof on the previous Record Date; provided, however, that for so long as the A Class is part of the Upper Tier REMIC, distributions on the A Class shall be made to the Trustee of the Upper Tier REMIC by transfer of immediately available funds to the Upper Tier REMIC Account.

  • All distributions on the Lower Tier Regular Classes deposited from time to time in the Upper Tier REMIC Account, all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the Upper Tier REMIC Account as part of the Trust Fund as herein provided, subject to withdrawal by Xxxxxx Mae for the purposes set forth in Section 4.05.

  • The Certificates of the A Class initially will be issued to and maintained in the name of Xxxxxx Mae as Trustee of the Upper Tier REMIC; provided, however, that upon the deposit into the Upper Tier REMIC Account of the amount due pursuant to the Forward Purchase Agreement on the Guaranteed Maturity Date, the Certificates of the A Class shall be transferred to Xxxxxx Xxx in its corporate capacity as record owner thereof.

  • In April 2021, the AP noted that they preferred either the 300- or 400-pound gutted weight trip limit alternatives (Alternative 3 and Alternative 4).

  • On each Distribution Date, CFMSI shall direct the Trustee to withdraw from the Certificate Account and deposit in the Upper-Tier REMIC Account all distributions to be made on such Distribution Date in respect of interest on and in reduction of Principal Balances of the Class L Regular Interests.

  • The Upper-Tier REMIC is one of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Class L Regular Interests and such amounts as shall from time to time be held in the Upper-Tier REMIC Account.

  • On each Distribution Date, Xxxxxx Mae shall withdraw from the Upper Tier REMIC Account the applicable portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of each related Class of Trust Fund Certificates in the respective amounts and in the applicable manner determined as provided herein.

Related to REMIC Account

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2020-GC46, Commercial Mortgage Pass-Through Certificates, Series 2020-GC46, and the Uncertificated VRR Interest Owner, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

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

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) may be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • 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.

  • Subaccount means any subaccount designated and established hereunder.

  • Sub-Account means any of the individual sub-accounts of a Participant's Separate Account that is maintained as provided in Article VIII.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Custodial Accounts Each custodial account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Purchasing and Servicing Agreement or Servicing Agreement, as applicable.

  • Administration Account As defined in Section 7.02.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • REMIC Election An election, for federal income tax purposes, to treat certain assets as a REMIC.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • 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.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • 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.