REMIC I Interest definition

REMIC I Interest. The REMIC I Regular Interests and the Class R-I Certificates.
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REMIC I Interest. The REMIC I Regular Interests and Component I of the Class R Certificates. REMIC I Net Deferred Interest: Net Deferred Interest for Loan Group I for any Distribution Date shall be allocated to REMIC I Regular Interest LT1 in reduction of the portion of the Uncertificated Accrued Interest thereon distributable on the related Distribution Date and shall result in an increase in the Uncertificated Principal Balance thereof to the extent of such reduction.
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REMIC I Interest. As defined in Section 2.07.
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Examples of REMIC I Interest in a sentence

  • Each such REMIC I Interest, other than the Class R-1 Interest, is hereby designated as a regular interest in REMIC I.

  • Each corresponding REMIC I Interest (other than the Transferable Servicing Interest) has a Pass-Through Rate equal to the REMIC I Net Mortgage Rate of the related Mortgage Loan or Separate Loan Advance, an initial principal amount equal to the Scheduled Principal Amount as of the Cut-off Date of the related Mortgage Loan or Separate Loan Advance, and a latest possible maturity date on the Maturity Date of the related Mortgage Loan or Separate Loan Advance.

  • For federal income tax purposes, the Pass-Through Rate for the Class 2B1, Class 2B2, Class 2B3, Class 2B4, Class 2B5 and Class 2B6 Certificates and each Corresponding REMIC II Regular Interest for any Distribution Date shall be expressed as a per annum rate equal to the weighted average of each interest in REMIC I having the letter “3B,” “4B” or “5B” in its designation weighted on the basis of the respective principal balances of each such REMIC I Interest.

  • For federal income tax purposes, the Pass-Through Rate for the Class B1, Class B2, Class B3, Class B4, Class B5 and Class B6 Certificates and each Corresponding REMIC II Regular Interest for any Distribution Date shall be expressed as a per annum rate equal to the weighted average of each interest in REMIC I having the letter “B” in its designation weighted on the basis of the respective principal balances of each such REMIC I Interest.

  • Each REMIC I Interest relates to a specific Mortgage Loan or Separate Loan Advance or to the Transferable Servicing Interest.

  • For federal income tax purposes, the Pass-Through Rate for the Class 1B1, Class 1B2, Class 1B3, Class 1B4, Class 1B5 and Class 1B6 Certificates and each Corresponding REMIC II Regular Interest for any Distribution Date shall be expressed as a per annum rate equal to the weighted average of each interest in REMIC I having the letter “1B” or “2B” in its designation weighted on the basis of the respective principal balances of each such REMIC I Interest.

  • Lower Tier REMIC I The following table specifies the class designation, interest rate, and principal amount for each class of Lower Tier REMIC I Interest.

  • Each Corresponding REMIC I Interest will have a Pass-Through Rate equal to the Remittance Rate of the related Mortgage Loan as of the Cut-off Date, and an initial principal balance (the initial "Class Balance") equal to the Scheduled Principal Balance as of the Cut-off Date of the Mortgage Loan to which the Corresponding REMIC I Interest relates.

  • For federal income tax purposes, the Pass-Through Rate for the Class II-2B1, Class II-2B2, Class II-2B3, Class II-2B4, Class II-2B5 and Class II-2B6 Certificates and each Corresponding REMIC II Regular Interest for any Distribution Date shall be expressed as a per annum rate equal to the weighted average of each interest in REMIC I having the letter “2B” or “3B” in its designation weighted on the basis of the respective principal balances of each such REMIC I Interest.

  • Each Lower Tier REMIC I Interest, other than the Class LTI-R Interest, is hereby designated as a regular interest in Lower Tier REMIC I.


More Definitions of REMIC I Interest

REMIC I Interest. The REMIC I Regular Interests and Component I of the Class R Certificates. REMIC I Net Deferred Interest: Net Deferred Interest for Loan Group I for any Distribution Date shall be allocated to the Class Z-1 Regular Interest, Net Deferred Interest for Loan Group II for any Distribution Date shall be allocated to the Class Z-2 Regular Interest, Net Deferred Interest for Loan Group III for any Distribution Date shall be allocated to the Class Z-3 Regular Interest and Net Deferred Interest for Loan Group IV for any Distribution Date shall be allocated to the Class Z-4 Regular Interest.
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REMIC I Interest. The REMIC I Regular Interests and Component 1 of the Class R-I Certificates.
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Related to REMIC I Interest

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

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

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

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

  • 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.

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

  • 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 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 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.

  • Subsidiary REMIC Regular Interest Any one of the "regular interests" in the Subsidiary REMIC described in the Preliminary Statement.

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

  • 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.

  • 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.

  • REMIC I Assets All of the Mortgage Pool Assets.

  • 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.

  • Corresponding REMIC I Regular Interest means the REMIC I Regular Interest that relates to any particular Mortgage Loan (including an REO Mortgage Loan) or Qualifying Substitute Mortgage Loan that replaces such Mortgage Loan, which REMIC I Regular Interest has the characteristics described in the Preliminary Statement.

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

  • 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 Certificate Any Regular Certificate or Class R Certificate.

  • REMIC II Assets The REMIC I Regular Interests.

  • Corresponding REMIC II Regular Interest means the REMIC II Regular Interest as defined in the Preliminary Statement with respect to any Class of Corresponding Certificates or any Corresponding Component.

  • Lower Tier Interest As described in the Preliminary Statement.

  • REMIC I Regular Interest I-LTP One of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a Regular Interest in REMIC I. REMIC I Regular Interest I-LTP shall be entitled to any Prepayment Charges collected by the Master Servicer and to a distribution 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.

  • REMIC III Certificate Any Regular Certificate or Class R Certificate.