REMIC II Regular Interest B definition

REMIC II Regular Interest B means the uncertificated interest designated as a "regular interest" in REMIC II, which shall consist of an interest having a Certificate Balance equal to the Aggregate Certificate Balance of the Class B Certificates, and which has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate.
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REMIC II Regular Interest B means the REMIC II Regular Interest which bears the designation "B".
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REMIC II Regular Interest B. One of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a Regular Interest in REMIC II. REMIC II Regular Interest B shall accrue interest at the related Uncertificated REMIC II 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.
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Examples of REMIC II Regular Interest B in a sentence

  • All Realized Losses on the Group II Loans shall be allocated on each Distribution Date to REMIC II Regular Interest B, until the Uncertificated Balance of REMIC II Regular Interest B has been reduced to zero.

  • The interest portion of all Realized Losses on the Group II Loans shall be allocated on each Distribution Date to REMIC II Regular Interest B and the REMIC II I-A-V Regular Interests, pro rata with their entitlement to interest without regard to this provision.

  • All remaining Realized Losses on Group II Mortgage Loans allocated to REMIC III Regular Interests on each Distribution Date shall be allocated to REMIC II Regular Interest B on such Distribution Date.

  • If any portion of such deficit remains at such time as the Uncertificated Principal Balance of REMIC II Regular Interest B is reduced to zero, then the respective Uncertificated Principal Balances of the remaining REMIC II Regular Interests shall be reduced, pro rata in accordance with the relative sizes of the then respective Uncertificated Principal Balances of such remaining REMIC II Regular Interests, until such deficit (or each such Uncertificated Principal Balance) is reduced to zero.

  • All Realized Losses on the Group II Loans shall be allocated on each Distribution Date to REMIC II Regular Interest B, until the Uncertificated Principal Balance of REMIC II Regular Interest B has been reduced to zero.

  • All remaining Realized Losses on Group II Mortgage Loans allocated to the Certificates on each Distribution Date shall be allocated to REMIC II Regular Interest B on such Distribution Date.


More Definitions of REMIC II Regular Interest B

REMIC II Regular Interest B. A regular interest in REMIC II that is held as an asset of REMIC III, that has an initial principal balance equal to the related Uncertificated Principal Balance, that bears interest at the related Uncertificated REMIC II Pass-Through Rate, and that has such other terms as are described herein. REMIC II Regular Interest A-III-IO: A regular interest in REMIC II that is held as an asset of REMIC III, that has no principal balance and bears interest at the related Uncertificated REMIC II Pass- Through Rate on the related Uncertificated Notional Amount, and that has such other terms as are described herein. REMIC II Regular Interest A-III-OC: A regular interest in REMIC II that is held as an asset of REMIC III, that is not entitled to interest that has an initial principal balance equal to the related Uncertificated Principal Balance, and that has such other terms as are described herein.
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REMIC II Regular Interest B. A regular interest in REMIC II that is held as an asset of REMIC III, that has an initial principal balance equal to the related Uncertificated Principal Balance, that bears interest at the related Uncertificated REMIC II Pass-Through Rate, and that has such other terms as are described herein.
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