REMIC III Component definition

REMIC III Component. Any of the separate beneficial ownership interests in REMIC III issued hereunder, evidenced by a Class of Interest Only Certificates. The REMIC III Components have the designations provided for in the Preliminary Statement hereto and each constitutes a “regular interest” in REMIC III (within the meaning of Section 860G(a)(1) of the Code). The REMIC III Components have the terms provided for in Section 2.15.
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REMIC III Component means:
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REMIC III Component means any of the separate "regular interests" in REMIC III evidenced by the Class X Certificates, each of which: (i) relates to its Corresponding REMIC II Regular Interest; (ii) accrues interest at its Pass-Through Rate in effect from time to time; and (iii) has a Component Notional Amount equal to the Uncertificated Principal Balance of its Corresponding REMIC II Regular Interest outstanding from time to time. The REMIC III Components shall have the following alphabetic and alphanumeric designations: X-A-1; X-A-2; X-A-3; X-A-AB; X-A-4; X-A-1A; X-A-M; X-A-J; X-B; X-C; X-D; X-E; X-F; X-G; X-H; X-J; X-K; X-L; X-M; X-N; X-P; X-Q; X-S; and X-T.
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Examples of REMIC III Component in a sentence

  • The REMIC III Component of the Class X-E Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-E Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-D Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-D Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-C Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-C Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-G Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-G Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-F Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-F Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-Y Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-Y Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The Component Notional Amount of the REMIC III Component of the Class X-E Certificates is, as of any date of determination, equal to the then-current Uncertificated Principal Balance of the REMIC II Regular Interest that is the Corresponding REMIC II Regular Interest for such REMIC III Component.

  • The Component Notional Amount of each REMIC III Component of the Class X-A Certificates is, as of any date of determination, equal to the then-current Uncertificated Principal Balance of the REMIC II Regular Interest that is the Corresponding REMIC II Regular Interest for such REMIC III Component.

  • The Component Notional Amount of each REMIC III Component of the Class X-B Certificates is, as of any date of determination, equal to the then-current Uncertificated Principal Balance of the REMIC II Regular Interest that is the Corresponding REMIC II Regular Interest for such REMIC III Component.

  • For purposes of accruing interest, however, each REMIC III Component of the Class X-A Certificates, each REMIC III Component of the Class X-B Certificates, the REMIC III Component of the Class X-E Certificates, the REMIC III Component of the Class X-F Certificates and the REMIC III Component of the Class X-G Certificates shall have a Component Notional Amount.


More Definitions of REMIC III Component

REMIC III Component means any of the following 21 components of the Class X Certificates: REMIC III Component X-A-1; REMIC III Component X-A-2; REMIC III Component X-A-3; REMIC III Component X-A-4; REMIC III Component X-A-1b; REMIC III Component X-B; REMIC III Component X-C; REMIC III Component X-D; REMIC III Component X-E; REMIC III Component X-F; REMIC III Component X-G; REMIC III Component X-H; REMIC III Component X-J; REMIC III Component X-K; REMIC III Component X-L; REMIC III Component X-M; REMIC III Component X-N; REMIC III Component X-P; REMIC III Component X-Q; REMIC III Component X-S; and REMIC III Component X-T; each of which (i) constitutes a separate "regular interest" in REMIC III for purposes of the REMIC Provisions, (ii) relates to its Corresponding REMIC II Regular Interest, and (iii) has a Component Notional Amount equal to the Uncertificated Principal Balance of its Corresponding REMIC II Regular Interest outstanding from time to time.
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Related to REMIC III Component

  • 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.

  • Corresponding REMIC II Regular Interest means the REMIC II Regular Interest or one of the REMIC II Regular Interests, as applicable, designated as such in the Preliminary Statement with respect to any Class of Principal Balance Certificates, any E▇ ▇▇▇▇▇ III Regular Interest, any Class of Class X Certificates or any Class X REMIC III Regular Interest.

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

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

  • 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.