REMIC B-3 B-3 Interest definition

REMIC B-3 B-3 Interest. An uncertificated "regular interest" in REMIC B-3 represented by the Class B-3 Certificates having the same rights to payments as the Class B-3 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-3 B-3 Interest in a sentence

  • All amounts deemed distributed in respect of the REMIC 2 B-3 Interest shall be treated as received by REMIC B-3 then distributed by REMIC B-3 in respect of the REMIC B-3 B-3 Interest.

  • Any amounts distributed to the Class B-3 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-3 in respect of the REMIC 2 B-3 Interest, and distributed thereby as a distribution in respect of the REMIC B-3 B-3 Interest.

  • All allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts to the REMIC 2 B-3 Interest shall result in similar allocations to the REMIC B-3 B-3 Interest.

  • If on any Distribution Date the Class Principal Balance of the Class B-3 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-3 B-3 Interest on such Distribution Date.

  • Any amounts distributed to the Class B-3 Certificates pursuant to Section 4.01 or this Section 4.02, other than LIBOR Carryover Amounts, shall be deemed distributed by REMIC 2 to REMIC B-3 in respect of the REMIC 2 B-3 Interest, and distributed thereby as a distribution in respect of the REMIC B-3 B-3 Interest.

  • The sole regular interest in REMIC B-3 will be the REMIC B-3 B-3 Interest.

  • Any amounts distributed to the Class B-3 Certificates pursuant to Section 4.01 or this Section 4.02, other than Net WAC Carryover Amounts, shall be deemed distributed by REMIC 2 to REMIC B-3 in respect of the REMIC 2 B-3 Interest, and distributed thereby as a distribution in respect of the REMIC B-3 B-3 Interest.

  • If on any Distribution Date the Certificate Principal Balance of the Class B-3 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-3 B-3 Interest on such Distribution Date.

Related to REMIC B-3 B-3 Interest

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

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

  • REMIC 2 As described in the Preliminary Statement.

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

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

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

  • 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.

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

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

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

  • 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.

  • Class B-3 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-3 and Exhibit C hereto. Class B-3 Certificateholder: The registered holder of a Class B-3 Certificate.

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

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • 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.

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

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

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

  • 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.

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

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

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • 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.