REMIC B-2 B-2 Interest definition

REMIC B-2 B-2 Interest. An uncertificated "regular interest" in REMIC B-2 represented by the Class B-2 Certificates having the same rights to payments as the Class B-2 Certificates other than the right to any payments in respect of Excess Interest and other than the obligation to make payments in respect of Class Payment Shortfalls.
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Examples of REMIC B-2 B-2 Interest in a sentence

  • Any amounts distributed to the Class B-2 Certificates pursuant to Section 4.01 or this Section 4.02, other than payments in respect of Excess Interest, shall be deemed distributed by REMIC 2 to REMIC B-2 in respect of the REMIC 2 B-2 Interest, and distributed thereby as a distribution in respect of the REMIC B-2 B-2 Interest.

  • All amounts deemed distributed in respect of the REMIC 2 B-2 Interest shall be treated as received by REMIC B-2 then distributed by REMIC B-2 in respect of the REMIC B-2 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 B-2 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 B-2 B-2 Interest on such Distribution Date.

  • The sole regular interest in REMIC B-2 will be the REMIC B-2 B-2 Interest.

  • If on any Distribution Date the Certificate 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 B-2 B-2 Interest on such Distribution Date.

Related to REMIC B-2 B-2 Interest

  • Class R-2 Interest The uncertificated Residual Interest in REMIC 2.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class A-2 Interest Rate means _____% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

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

  • 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.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • REMIC 2 As described in the Preliminary Statement.

  • Regular Interest A “regular interest” in a REMIC within the meaning of Section 860G(a)(1) of the Code.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class A-2-B Interest Rate means LIBOR + 0.27% per annum (computed on the basis of the actual number of days elapsed during the applicable Interest Period, but assuming a 360 day year); provided, however, that for any Interest Period for which the sum of LIBOR + 0.27% is less than 0.00%, the Class A-2-B Interest Rate shall be deemed to be 0.00%.

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • 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.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class B-2 Interest Shortfall Amount As to any Distribution Date, any amount by which the Interest Accrual Amount of the Class B-2 Certificates with respect to such Distribution Date exceeds the amount distributed in respect of the Class B-2 Certificates on such Distribution Date pursuant to Paragraph eighth of Section 4.01(a).

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

  • Class B-1 Pass-Through Rate For the first Distribution Date, 6.3300% per annum. As of any Distribution Date thereafter, the least of (1) One-Month LIBOR plus the Class B-1 Margin, (2) the Weighted Average Available Funds Cap for such Distribution Date and (3) the Weighted Average Maximum Rate Cap for such Distribution Date.

  • Class A-2-A Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • 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.