REMIC IX definition

REMIC IX. The segregated pool of assets consisting of the Class II-P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class II-P Certificates and the Class II-RX Certificate (in respect of the Class II-R-9 Interest), with respect to which a separate REMIC election is to be made.
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REMIC IX. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC IX, each of which (other than the R-IX interest) is hereby designated as a regular interest in REMIC IX (the “REMIC IX Regular Interests”): T9-A (4) (1) T9-F1 $ 101,034,000.00 (2) T9-V1(6) $ 101,034,000.00 (3) T9-IO (7) (7) T9-A2A-IO (9) (9) T9-Subs-IO (8) (8) R-IX (5) (5) ___________________
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REMIC IX. As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the Class I-Swap-IO REMIC III Regular Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC IX." The Class RX-IX Interest represents the sole class of "residual interests" in REMIC IX for purposes of the REMIC Provisions. The following table sets forth (or describes) the designation, Pass-Through Rate and initial Uncertificated Balance for the Class I-Swap-IO REMIC IX Regular Interest comprising the "regular interest" in REMIC IX for purposes of the REMIC Provisions: Initial Latest Possible Designation Pass-Through Rate Uncertificated Balance Maturity Date(1) ----------- ----------------- ---------------------- ---------------- I-Swap-IO (2) (2) December 25, 2036 _____________________
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Examples of REMIC IX in a sentence

  • The Class II-R-9 Interest represents the sole class of Residual Interests in REMIC IX for purposes of the REMIC Provisions.

Related to REMIC IX

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

  • REMIC I The segregated pool of assets subject hereto, constituting the primary trust created hereby and to be administered hereunder, with respect to which a REMIC election is to be made, consisting of (i) such Mortgage Loans as from time to time are subject to this Agreement, together with the Mortgage Files relating thereto, and together with all collections thereon and proceeds thereof, (ii) any REO Property, together with all collections thereon and proceeds thereof, (iii) the Trustee’s rights with respect to the Mortgage Loans under all insurance policies required to be maintained pursuant to this Agreement and any proceeds thereof, (iv) the Depositor’s rights under each of the Mortgage Loan Purchase Agreement and the Assignment and Assumption Agreement (including any security interest created thereby) and (v) the Collection Account (other than any amounts representing any Servicer Prepayment Premium Payment Amount), the Distribution Account (other than any amounts representing any Servicer Prepayment Premium Payment Amount) and any REO Account and such assets that are deposited therein from time to time and any investments thereof, together with any and all income, proceeds and payments with respect thereto. Notwithstanding the foregoing, however, REMIC I specifically excludes all payments and other collections of principal and interest due on the Mortgage Loans on or before the Cut-off Date and all Prepayment Premiums payable in connection with Principal Prepayments made on or before the Cut-off Date, the Net WAC Reserve Fund, the Supplemental Interest Trust, the Supplemental Interest Account and the Swap Agreement.

  • 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.

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

  • REMIC VI The segregated pool of assets consisting of the Class IO Interest conveyed in trust to the Trustee, for the benefit of the Holders of REMIC VI Regular Interest IO and the Class RX Certificate (in respect of the Class R-6 Interest), with respect to which a separate REMIC election is to be made.