REMIC I Regular Interest A-1 definition
REMIC I Regular Interest A-1. A regular interest in REMIC I that is held as an asset of REMIC II, that has an initial principal balance equal to the related Uncertificated Principal Balance, that bears interest at the related Uncertificated REMIC I Pass-Through Rate, and that has such other terms as are described herein.
REMIC I Regular Interest A-1. 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 A-1 shall accrue interest at the related Uncertificated REMIC I 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.
REMIC I Regular Interest A-1 means the uncertificated interest designated as a "regular interest" in REMIC I, which shall consist of an interest having a Certificate Balance equal to the Aggregate Certificate Balance of the Class A-1 Certificates, and which has a Pass-Through Rate equal to the Weighted Average Net Mortgage Rate.
Examples of REMIC I Regular Interest A-1 in a sentence
All Realized Losses, Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, and Excess Extraordinary Losses with respect to the Mortgage Loans in Sub-Pool 1 and Sub-Pool 2 which are allocated to the Class R-II Certificates on any Distribution Date are deemed first to have been allocated to the REMIC I Regular Interest A1 or A2, respectively.