REMIC Pass-Through Rate definition

REMIC Pass-Through Rate. In the case of a Class of the Class A, Class M and Class B Certificates, the Upper Tier REMIC Net WAC Cap for the Corresponding REMIC Regular Interest.

REMIC Pass-Through Rate. The Pass-Through Rate for a Class of Related Certificates calculated by replacing "Available Funds Cap" in such definition with "Net Rate."

REMIC Pass-Through Rate. With respect to each Uncertificated Class A-V REMIC Regular Interest, 100% of the interest payable on the related Uncertificated REMIC I IO Regular Interest.

Examples of REMIC Pass-Through Rate in a sentence

• The Trustee shall treat the rights of the holders of the Class A and Mezzanine Certificates to receive any interest payments in excess of the REMIC Pass-Through Rate on the Master REMIC Regular Interest corresponding to such Class of Certificates as rights in an interest rate cap contract written by the Class CA Certificateholders in favor of the holders of the Class A and Mezzanine Certificates.

• For federal income tax purposes, the interest rate on each REMIC 2 Regular Interest (other than the Uncertificated Class X Interest) shall be subject to a cap equal to the REMIC Pass-Through Rate.

• If, as evidenced by a REMIC Opinion, it is necessary to preserve the REMIC status of any of the REMICs provided for herein, the Class SWR Interest, the Class LTR Interest and the Residual Interest shall be severed and represented by separate Certificates (with the separate certificate that represents the Residual Interest also representing all rights of the Class R Certificate to distributions attributable to an interest rate on the Class R Certificate in excess of the REMIC Pass-Through Rate).

• The Trustee shall treat the rights of the holders of the Underwritten Certificates to receive any interest payments in excess of the REMIC Pass-Through Rate on the Master REMIC Regular Interest corresponding to such Class of Certificates as rights in an interest rate cap contract written by the Class X Certificateholders in favor of the holders of the Underwritten Certificates.

• The following table irrevocably sets forth the designation, the Uncertificated Shifting Interest Middle-Tier REMIC Pass-Through Rate, the initial Uncertificated Balance, and solely for purposes of satisfying Treasury Regulations Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated Shifting Interest Middle-Tier Regular Interests.

More Definitions of REMIC Pass-Through Rate

REMIC Pass-Through Rate. The Class A-1 Available Funds Cap (in the case of a Class included in Certificate Group One), the Class A-2 Available Funds Cap (in the case of a Class included in Certificate Group Two) or the Subordinated Certificate Available Funds Cap (in the case of the Subordinated Certificates).

REMIC Pass-Through Rate. As defined in Exhibit J hereof.

REMIC Pass-Through Rate. For any Distribution Date, the applicable Net Funds Cap for such Distribution Date (as adjusted, in the case of any Class of Certificates or REMIC 2 Interest that accrues interest on the basis of a 360-day year consisting of twelve 30-day months, to reflect accruals on such basis).

REMIC Pass-Through Rate. As defined in Exhibit K hereof.

REMIC Pass-Through Rate. With respect to each Uncertificated Class II-A-V REMIC Regular Interest, the related Uncertificated REMIC I Pass-Through Rate. For federal income tax purposes, an amount equal to 100% of the interest paid on the related Uncertificated REMIC I Group II IO Regular Interest.

REMIC Pass-Through Rate. As defined in Section 2.09 hereof.

REMIC Pass-Through Rate. With respect to each Uncertificated Class A-V REMIC Regular Interest, a per annum rate equal to the Pool Strip Rate with respect to the related Mortgage Loan. For federal income tax purposes, however, each Uncertificated Class A-V REMIC Regular Interest will not have a pass-through rate and Uncertificated Class A-V REMIC Accrued Interest therefor will be equal to 100% of the interest distributed with respect to the related REMIC I IO Regular Interest.