REMIC Residual Interest definition

REMIC Residual Interest means a residual interest, as defined in Section 860G(a)(2) of the Tax Code, in a REMIC, or any interest that has been represented or otherwise held out to be a residual interest in a REMIC irrespective of whether such interest qualifies as a residual interest in a REMIC as defined in Section 860G(a)(2) of the Tax Code.
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REMIC Residual Interest. The REMIC residual interest in the [_________] REMIC, which residual interest was transferred and assigned by Capmark Finance Inc. to the Depositor pursuant to the Mortgage Loan Purchase Agreement between the Depositor and Capmark Finance Inc..
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REMIC Residual Interest means a residual interest, as defined in Section 860G(a)(2) of the Tax Code, in a REMIC or any interest that has been represented or otherwise held out to be a residual interest in a REMIC irrespective of whether such interest qualifies as a residual interest in a REMIC as defined in Section 860G(a)(2) of the Tax Code.
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Examples of REMIC Residual Interest in a sentence

  • The interests evidenced by the Master REMIC Residual Interest, together with the Regular Certificates, constitute the entire beneficial ownership interest in the Master REMIC.

  • Prior to the applicable Distribution Date, the Master Servicer shall withdraw from the Collection Account and remit to the Certificate Administrator on the applicable Master Servicer Remittance Date for deposit in the Loan REMIC Residual Distribution Account amounts deemed distributed on the Loan REMIC Residual Interest from the Loan REMIC pursuant to the related REMIC Declaration prior to the Determination Date for the applicable Collection Period.

  • The Certificate Administrator shall, on any Distribution Date, make withdrawals from the Loan REMIC Residual Distribution Account to the extent required to make the distributions in respect of the Loan REMIC Residual Interest required by Section 4.01(m).

  • The GACC MGM Grand & Mandalay Bay REMIC Declaration designates the GACC MGM Grand & Mandalay Bay REMIC Regular Interest as a “regular interest” in such MGM Grand & Mandalay Bay REMIC within the meaning of Section 860(G)(a)(1) of the Code and the GACC MGM Grand & Mandalay Bay REMIC Residual Interest as the sole class of “residual interests” in such MGM Grand & Mandalay Bay REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Amounts (other than Excess Interest) deposited into and withdrawn from the Collection Account in respect of the CREFI MGM Grand & Mandalay Bay Mortgage Loan Portion and the GACC MGM Grand & Mandalay Bay Mortgage Loan Portion shall be deemed to be distributed in respect of the related MGM Grand & Mandalay Bay Trust REMIC Regular Interest and the related MGM Grand & Mandalay Bay REMIC Residual Interest in accordance with the related REMIC Declaration.

  • The Upper Tier REMIC Residual Interest is hereby designated as the sole residual interest in the Upper Tier REMIC.

  • For purposes of the REMIC election in respect of the Loan REMIC, each Class of Loan REMIC Regular Interests shall be designated as the "regular interests" and the Loan REMIC Residual Interest, represented by the Class LR Certificates, shall be designated as the sole class of "residual interests" in the Loan REMIC.

  • The Component Mortgage Loan REMIC Residual Interest will represent the sole class of "residual interests" in the Component Mortgage Loan REMIC for purposes of the REMIC Provisions under federal income tax law, and will be represented by the Class R-I Certificates.

  • The Loan REMIC Residual Interest will represent the sole class of "residual interests" in the Loan REMIC for purposes of the REMIC Provisions under federal income tax law, and will be represented by the Class LR Certificates.

  • Any portion of the Aggregate Available Funds attributable to such Mortgage Loans on deposit in the Collection Account after giving effect to withdrawals of funds pursuant to Section 3.06(a)(i) through Section 3.06(a)(xi) (other than any referenced deposit to the Loan REMIC Residual Distribution Account) shall be distributable to the Class R Certificates in respect of amounts distributed on the related Loan REMIC Residual Interest from the Loan REMIC Residual Distribution Account.


More Definitions of REMIC Residual Interest

REMIC Residual Interest. The REMIC residual interest in the [________] REMIC, which residual interest was transferred and assigned by [_________] to the Depositor pursuant to the Mortgage Loan Purchase Agreement between the Depositor and [_________].
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REMIC Residual Interest. The sole uncertificated "residual interest", within the meaning of Section 860G(a)(2) of the Code, in the Xxxxxx Paints (Xxxxxxxx Plaza) REMIC, issued pursuant to the Xxxxxx Paints (Xxxxxxxx Plaza) REMIC Declaration.
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REMIC Residual Interest. A "residual interest" within the meaning set ----------------------- forth from time to time in the definition thereof at Section 860G(a)(2) of the Code or any successor statute thereto.
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Related to REMIC Residual Interest

  • Residual Interest The sole class of "residual interests" in a REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, 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-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • Residual Interests As specified in the Preliminary Statement.

  • Residual Interest Certificate means any of the Class R-I Certificates, the Class R-II Certificates, the Class R-III Certificates or, if issued in accordance with Section 2.06, the Class R-LR Certificates.

  • 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.

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

  • 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.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

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

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

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

  • 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 4 The segregated pool of assets consisting of the Class C Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class C Certificates and the Class R-X Certificates (in respect of the Class R-4 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

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

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

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

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • 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 II Assets The REMIC I Regular Interests.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.