REMIC Regular Certificate definition

REMIC Regular Certificate. A Class A-1, Class M-[1], Class M-[2] or Class [B-1] Certificate.
Sample 1Sample 2Sample 3
REMIC Regular Certificate. Any Trust Certificate, other than a Class R Certificate.
Sample 1Sample 2Sample 3
REMIC Regular Certificate. Any Certificate of the Group 1 Classes.
Sample 1Sample 2

Examples of REMIC Regular Certificate in a sentence

  • For this purpose, cap shortfall for a Class of senior Certificates is the excess, if any, of (i) the amount payable on such Class of senior Certificates on such Distribution Date over (ii) the amount payable on the Master REMIC Regular Certificate corresponding to such Class of senior Certificates on such Distribution Date.

  • Pursuant to each such notional principal contract, all holders of a Class of Subordinate Certificates will be treated as having agreed to pay into the Supplement Interest Reserve Fund, on each Distribution Date, an aggregate amount equal to the excess of (i) the amount payable on the Master REMIC Regular Certificate corresponding to such Class of Subordinate Certificates on such Distribution Date over (ii) the amount payable on such Class of Subordinate Certificates on such Distribution Date.

  • The "latest possible maturity date" (determined solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) for each REMIC Regular Certificate shall be the first Distribution Date that follows the stated maturity date for the Underlying Certificates.

  • All distributions made with respect to any REMIC Regular Certificate on any Distribution Date shall be applied first to the interest distributable thereon on such Distribution Date and then to the principal thereof.

  • Unless otherwise advised by the Depositor in writing, for federal income tax purposes, the Trustee is hereby directed to assign a value of zero to the right of each Holder of an Offered Certificate or Class M-6 Certificate to receive the related Basis Risk Carry Forward Amount for purposes of allocating the purchase price of an initial Holder of an Offered Certificate or Class M-6 Certificate between such right and the related REMIC Regular Certificate.

  • Pursuant to each such notional principal contract, all holders of a Class of Group II/III Subordinate Certificates will be treated as having agreed to pay into the Supplement Interest Reserve Fund, on each Distribution Date, an aggregate amount equal to the excess of (i) the amount payable on the Master REMIC Regular Certificate corresponding to such Class of Subordinate Certificates on such Distribution Date over (ii) the amount payable on such Class of Subordinate Certificates on such Distribution Date.

  • Unless otherwise advised by the Depositor in writing, for federal income tax purposes, the Trustee is hereby directed to assign a value of zero to the right of each Holder of an Offered Certificate to receive the related Basis Risk Carry Forward Amount for purposes of allocating the purchase price of an initial Holder of an Offered Certificate between such right and the related REMIC Regular Certificate.

  • Accordingly, each Class of Offered Certificates and the Class I-B-1 Certificates will be comprised of two components - a REMIC Regular Certificate and an interest in an interest rate cap contract, and the Class I-X Certificateholders or Class II-X Certificateholders, as applicable, will be comprised of two components - a REMIC Regular Certificate and ownership of the related Excess Reserve Fund Account, subject to an obligation to pay Basis Risk Carry Forward Amounts.

  • For each REMIC Regular Certificate, the appropriate Reserve Bank shall be considered to be acting as the agent of Xxxxxx Xxx in providing to and conferring upon the owners of the REMIC Regular Certificates, as such owners shall appear on the records of such Reserve Bank, the substantive rights and benefits which are provided for herein for Holders of such Certificates.

  • Within a reasonable period of time after the end of each calendar year, the Trust Administrator shall furnish to each Person who at any time during the calendar year was a Holder of a REMIC Regular Certificate a statement containing the information set forth in subclauses (i) through (iii) above, aggregated for such calendar year or applicable portion thereof during which such person was a Certificateholder.


More Definitions of REMIC Regular Certificate

REMIC Regular Certificate. Any Certificate other than a Class I-R Certificate, Class II-R Certificate, Class I-P Certificate, Class II-P Certificate, Class I-X-1 Certificate or Class II-X-1 Certificate.
Sample 1
REMIC Regular Certificate. Any REMIC Certificate other than a Residual Certificate. Reserve Bank: Any Federal Reserve Bank, including its branches.
Sample 1
REMIC Regular Certificate. Any of (i) any of the Group I Certificates (other than the Class IP Certificates and the Class IL Certificates), (ii) any of the rights under any of the Group II Certificates (other than the Class IIP Certificates, the Class IIL Certificates and the Class IIC Certificates) other than the rights in interest rate cap contracts described in Section 2.07, and (iii) the Uncertificated Class IIC Interest.
Sample 1
REMIC Regular Certificate. Any Certificate other than a Class R Certificate, Class P Certificate or Class X-1 Certificate.
Sample 1

Related to REMIC Regular Certificate

  • Regular Certificate Any Class A Certificate, Mezzanine Certificate, Class CE Certificate or Class P Certificate.

  • Regular Certificates As specified in the Preliminary Statement.

  • REMIC Regular Interest Any REMIC I Regular Interest or REMIC II Regular Interest.

  • REMIC II Certificate Any Regular Certificate or Class R Certificate.

  • Class A-R Certificate The Certificate executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-R and Exhibit C hereto.

  • REMIC III Certificate Any Regular Certificate or Class R Certificate.

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

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

  • REMIC 1 Regular Interest Each of the REMIC 1 Interests other than the Class LT1-R Interest.

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

  • 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.

  • 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.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • Class X Certificate Any one of the Certificates with a "Class X" designation on the face thereof, substantially in the form of Exhibit A-1, and evidencing a "regular interest" in REMIC II for purposes of the REMIC Provisions.

  • 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.

  • Class A-V Certificate Any one of the Certificates designated as a Class A-V Certificate, including any Subclass thereof.

  • 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.

  • 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.

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Subsidiary REMIC Regular Interest Any one of the "regular interests" in the Subsidiary REMIC described in the Preliminary Statement.

  • REMIC 2 Regular Interests One of the separate non-certificated beneficial ownership interests in REMIC 2 issued hereunder and designated as a Regular Interest in REMIC 2. Each REMIC 2 Regular Interest shall accrue interest at the related Uncertificated REMIC 2 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. The following is a list of each of the REMIC 2 Regular Interests: REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTA1, REMIC 2 Regular Interest LTA2, REMIC 2 Regular Interest LTA3, REMIC 2 Regular Interest LTA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10, REMIC 2 Regular Interest LTZZ, REMIC 2 Regular Interest LTP and REMIC 2 Regular Interest LTIO.

  • REMIC 1 Regular Interests REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1P.

  • REMIC II Regular Interests The Classes of undivided beneficial interests in REMIC II designated as “regular interests” in the table titled “REMIC II Interests” in the Preliminary Statement hereto. The REMIC II Regular Interests, together with the Class R-2 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Class R-X Certificate Any one of the Class R-X Certificates executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-R-X and evidencing the ownership of the Class R-IV Interest, the Class R-V Interest and the Class R-VI Interest.