REMIC II Interests definition
Examples of REMIC II Interests in a sentence
Such election will be made on Form 1066 or other appropriate federal tax or information return or any appropriate state return for the taxable year ending on the last day of the calendar year in which the REMIC II Interests are issued.
The Trustee acknowledges receipt of the REMIC I Regular Interests (which are uncertificated) and the other assets of REMIC II and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC II Interests.
The Trustee and the Certificate Administrator shall not permit the creation of any “interests” (within the meaning of Section 860G of the Code) in any of the REMIC Pools other than the REMIC I Interests, the REMIC II Interests and the REMIC III Interests.
The Depositor, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Depositor in and to the REMIC I Regular Interests and the other assets of REMIC II for the benefit of the holders of the REMIC II Interests.
On each Distribution Date, amounts on deposit in the REMIC II Distribution Account (net of any expenses payable to the Securities Administrator under Section 11.04 hereof or to the Trustee under Section 9.05 hereof) will be allocated by the Securities Administrator to pay amounts due on the REMIC II Interests, in accordance with Section 2.03(c).