REMIC III Distribution Account definition

REMIC III Distribution Account. The segregated account or accounts created and maintained as a separate trust account or accounts by the Trustee pursuant to Section 3.04, which shall be entitled "Norwest Bank Minnesota, National Association, as Trustee, in trust for Holders of NationsLink Funding Corporation, Commercial Mortgage Pass-Through Certificates, Series 1998-2, REMIC III Distribution Account" and which account shall be an Eligible Account.
Sample 1Sample 2
REMIC III Distribution Account. The segregated account or accounts created and maintained by the Trustee pursuant to Section 3.6(b), which shall be entitled "LaSalle National Bank, as Trustee, in trust for Holders of Commercial Mortgage Acceptance Corp. Commercial Mortgage Pass-Through Certificates, Series 1997-ML1, REMIC III Distribution Account" and which shall be an Eligible Account.
Sample 1Sample 2
REMIC III Distribution Account. The account established under such name in accordance with Section 6.01(a) hereof and maintained by the Trustee.
Sample 1

Examples of REMIC III Distribution Account in a sentence

  • The assets of REMIC III will consist of the REMIC II Regular Interests and the REMIC III Distribution Account.

  • Each of the REMIC I Distribution Account, the REMIC II Distribution Account and the REMIC III Distribution Account shall be established and maintained as an Eligible Account.

  • On or prior to the Master Servicer Remittance Date in March of each calendar year, the Trustee shall transfer to the REMIC III Distribution Account the aggregate of all Withheld Amounts on deposit in the Interest Reserve Account.

  • Certificate Account, the Distribution Account, the REMIC II Distribution Account, the REMIC IIU Distribution Account and the REMIC III Distribution Account.....................................................

  • REMIC II Distribution Account and REMIC III Distribution Account.

  • Such amounts distributed on the REMIC II Uncertificated Regular Interests shall be considered to be held in the REMIC III Distribution Account until distributed to the Holders of the New Certificates and the Class R-III Certificates as set forth in Section 4.01(b) (to the extent of the Available Distribution Amount).

  • I Distribution Account, -------------------------------------------------------- REMIC II Distribution Account and REMIC III Distribution Account.

  • Such amounts distributed on the REMIC IIU Uncertificated Regular Interests and the Class MB, Class MC, Class MD, Class ME, Class MF and Class MX Uncertificated Interests shall be considered to be held in the REMIC III Distribution Account until distributed to the Holders of the New Certificates and the Class R-III Certificates as set forth in Section 4.01(b) (to the extent of the Available REMIC III Distribution Amount).

  • Permitted Withdrawals from REMIC I Distribution Account, REMIC II Distribution Account and REMIC III Distribution Account.

  • Permitted Withdrawals from REMIC I Distribution Account, REMIC II Distribution Account and REMIC III Distribution Account.....................

Related to REMIC III Distribution Account

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2020-GC46, Commercial Mortgage Pass-Through Certificates, Series 2020-GC46, and the Uncertificated VRR Interest Owner, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • REMIC II Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the REMIC II Regular Interests; and

  • REMIC III Distribution Amount The REMIC III Available Distribution Amount for any Distribution Date shall be distributed to the Certificates and the Class R-3 Residual Interest in the following amounts and priority:

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) may be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • REMIC I Distribution Amount For any Distribution Date, the REMIC I Available Distribution Amount shall be distributed to the REMIC I Regular Interests and the Class R-1 Residual Interest in the following amounts and priority:

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • Companion Distribution Account shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement.

  • REMIC IV Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the Classes of REMIC IV Regular Interests; and

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Excess Interest Distribution Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.05(e) of this Agreement in trust for the Holders of the Excess Interest Certificates, which (subject to changes in the identities of the Certificate Administrator and/or the Trustee) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2019-C7, Commercial Mortgage Pass-Through Certificates, Series 2019-C7, Class S – Excess Interest Distribution Account.” Any such account shall be an Eligible Account. The Excess Interest Distribution Account shall be held solely for the benefit of the Holders of the Excess Interest Certificates. The Excess Interest Distribution Account shall not be an asset of any Trust REMIC, but rather shall be an asset of the Grantor Trust.

  • 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.

  • Distribution Account Deposit Date As to any Distribution Date, 12:30 p.m. Pacific time on the Business Day immediately preceding such Distribution Date.

  • Corresponding REMIC I Regular Interest means with respect to each Mortgage Loan, the REMIC I Regular Interest having an initial Certificate Balance equal to the Principal Balance of such Mortgage Loan outstanding as of the Cut-Off Date, after taking into account all principal and interest payments made or due prior to the Cut-Off Date.

  • 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 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 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 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 III Available Distribution Amount For any Distribution Date, the amount distributed from REMIC II to REMIC III on such Distribution Date in respect of the REMIC II Regular Interests.

  • REMIC II Interest Loss Allocation Amount With respect to any Distribution Date, an amount equal to (a) the product of (i) 50% of the aggregate Stated Principal Balance of the Mortgage Loans and REO Properties then outstanding and (ii) the REMIC II Remittance Rate for REMIC II Regular Interest AA minus the Marker Rate, divided by (b) 12.

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