REMIC II-1 definition

REMIC II-1. As described in the Preliminary Statement.
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REMIC II-1. All payments received by REMIC II-1 with respect to the SWAP II REMIC Regular Interests shall be paid to the REMIC II-1 Regular Interests until the principal balance of all such interests have been reduced to zero and any losses allocated to such interests have been reimbursed. Any excess amounts shall be distributed to the Class LTII1-R Interest. On each Distribution Date,
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REMIC II-1. All payments received by REMIC II-1 shall be paid to the REMIC II-1 Regular Interests until the principal balance of all such interests have been reduced to zero and any losses allocated to such interests have been reimbursed. Any excess amounts shall be distributed to the Class LTII1-R Interest. On each Distribution Date, (i) distributions shall be made in respect of the Class LTII1-3AX Interest in an amount equal to the amount of interest accrued thereon for such Distribution Date (taking into account shortfalls allocated to the Class 3-AX Certificates) and (ii) distributions shall be made in respect of the Class LTII1-4AX Interest in an amount equal to the amount of interest accrued thereon for such Distribution Date (taking into account shortfalls allocated to the Class 3-AX Certificates). Shortfalls in amounts available for distribution pursuant to the preceding sentence attributable to Negative Amortization shall be carried forward but shall not accrue interest. Then, from all remaining amounts related to Pool 3 and Pool 4 to be paid and allocated on each Distribution Date,
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Examples of REMIC II-1 in a sentence

  • REMIC II-2 shall hold as its assets the several Classes of uncertificated REMIC II-1 Regular Interests and each such REMIC II-1 Regular Interest is hereby designated as a regular interest in REMIC II-1.

  • REMIC II-1 shall hold as its assets the several Classes of uncertificated SWAP REMIC Regular Interests and each such SWAP REMIC Regular Interest is hereby designated as a regular interest in the SWAP REMIC.

  • The Class R Certificate represents ownership of the sole Class of residual interest in each of REMIC I-1, REMIC I-2, the SWAP REMIC, REMIC II-1 and REMIC II-2 for purposes of the REMIC Provisions.

  • The Class LTII1-R Interest is hereby designated as the sole residual interest in REMIC II-1.

  • The Class R Certificate represents ownership of the sole class of residual interest in each of REMIC I-1, REMIC I-2, REMIC I-3, REMIC I-4, REMIC II-1 and REMIC II-2 for purposes of the REMIC Provisions.

  • The REMIC II-1 Regular Interests will constitute the regular interests in REMIC II-1 and the Class II-R1 Certificates will constitute the residual interest in such REMIC.

  • Elections shall be made by the Trustee to treat the assets of the Trust described in the definition of the term "REMIC I-1," the assets of the Trust described in the definition of the term "REMIC I-2," the assets of the Trust described in the definition of term "REMIC II-1" and the assets of the Trust described in the definition of the term "REMIC II-2" as separate REMICs for federal income tax purposes.

  • The final scheduled distribution date for the Regular Interests in REMIC II-1 and REMIC II-2 is the December 2031 Distribution Date.

  • REMIC II-1: All payments received by REMIC II-1 with respect to the SWAP REMIC Regular Interests shall be paid to the REMIC II-1 Regular Interests until the principal balance of all such interests have been reduced to zero and any losses allocated to such interests have been reimbursed.

  • Any of the REMIC II-1 Regular Interests other than the Class LTII1-X Interest.


More Definitions of REMIC II-1

REMIC II-1. One of the four real estate mortgage investment conduits created in the Trust, which consists of the Mortgage Loans in Group II and certain other assets and the REMIC II-1 Distribution Account.
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REMIC II-1. On each Distribution Date, the Trustee shall first pay or charge as an expense of REMIC II-1 all expenses of the Trust Fund relating to Pool 3 for such Distribution Date. All payments of principal and interest at the Net Mortgage Rate on each of the Pool 3 Mortgage Loans received with respect to the Pool 3 Mortgage Loans (net of payments in the nature of expenses, reimbursements and indemnifications related to such Mortgage Pool made from the Trust Fund (which payments shall be limited to collections or other recoveries on such Mortgage Loans and shall be accounted for in such manner)) shall be paid to the REMIC II-1 Regular Interests until the principal balance of all such interests have been reduced to zero and any losses allocated to such interests have been reimbursed. Any excess amounts shall be distributed to the Class LTII1-R Interest. On each Distribution Date,
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Related to REMIC II-1

  • 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.

  • REMIC II The segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests conveyed in trust to the Trustee for the benefit of the holders of each Class of Certificates (other than the Class R-I Certificates) pursuant to Section 2.06, with respect to which a separate REMIC election is to be made.

  • 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 II Regular Interests The Classes of undivided beneficial interests in REMIC II designated as “regular interests” in the table titled “REMIC II Interests” in the Preliminary Statement hereto. The REMIC II Regular Interests, together with the Class R-2 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • REMIC III Regular Interests The Classes of undivided beneficial interests in REMIC III designated as “regular interests” in the table titled “REMIC III Interests” 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 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.

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

  • REMIC A "real estate mortgage investment conduit" within the meaning of Section 860D of the Code.

  • 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.

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

  • REMIC Regular Interests The REMIC I Regular Interests and REMIC II Regular Interests.

  • 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.

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

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

  • 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 1 Regular Interests REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1P.

  • 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.

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

  • REMIC II Certificates The REMIC II Regular Certificates and the Class R-II Certificates.

  • 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.

  • REMIC II Assets The REMIC I Regular Interests.

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

  • REMIC III CERTIFICATES has the meaning set forth in the final paragraph of the Preliminary Statement hereto.