REMIC V definition

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 V. The segregated pool of assets consisting of the Class I-CE Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class I-CE Certificates and the Class I-RX Certificate (in respect of the Class I-R-5 Interest), with respect to which a separate REMIC election is to be made.

REMIC V. The segregated pool of assets consisting of all of the REMIC IV Regular Interests conveyed in trust to the Trustee for the benefit of the Certificateholders pursuant to Section 2.10 and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

Examples of REMIC V in a sentence

• Each of REMIC I, REMIC II, REMIC III, and REMIC IV (each a “Group I REMIC”) shall relate to Group I, and each of REMIC V and REMIC VI (each a “Group II REMIC”) shall relate to Group II.

• By their acceptance of the Certificates, the Holders thereof hereby authorize the adoption of a 90-day liquidation period and the adoption of a plan of complete liquidation for REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V and REMIC VI, which authorization shall be binding upon all successor Certificateholders.

• The REMIC V Available Distribution Amount for any Distribution Date shall be distributed to the Class P Certificates.

• On each Distribution Date, the principal distributed on the REMIC V interests shall be distributed, and Realized Losses shall be allocated, among the interests in REMIC VI in an amount equal to the principal distributions and Realized Loss allocations for such Distribution Date with respect to the Corresponding Class of Certificates related to such interests.

• Any such shortfall as a result of the Loan Subgroups receiving the extra payment having a Ratio-strip Rate (as defined below) lower than the weighted average Ratio-strip Rate of the Loan Subgroup from which the payment was relocated shall be treated as a Realized Loss and if excess arises as a result of the Loan Subgroup receiving the extra payment having a Ratio-strip Rate higher than the Loan Subgroup from which the payment was relocated it shall reimburse REMIC V for prior Realized Losses.

More Definitions of REMIC V

REMIC V. That group of assets contained in the Trust Fund designated as a REMIC consisting of REMIC IV Regular Interests B-IO-I and B-IO-P and any proceeds thereof.

REMIC V. As described in the Preliminary Statement.

REMIC V. 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 V Regular Interest IO and the Class R-V Certificate, with respect to which a separate REMIC election is to be made.

REMIC V. The segregated pool of assets consisting of the assets of the Trust other than the REMIC II Regular Interests, the REMIC III Regular Interests, the REMIC IV Regular Interests, the Interest Rate Cap Agreements, the First Loan Payment Account, the Pre-Funding Account and the Net Rate Cap Fund.

REMIC V. The segregated pool of assets described in the Preliminary Statement consisting of the REMIC II Regular Interests and the REMIC IV Regular Interests. REMIC V Certificates: The Regular Certificates and the Class II-R-3 Certificates.

REMIC V. The segregated pool of assets subject hereto, constituting a portion of the primary trust created hereby and to be administered hereunder, with respect to which a separate REMIC election is to be made, consisting of REMIC IV Regular Interests SB-IO, SB-PO and IO.

REMIC V. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC V, each of which (other than the R-V interest) is hereby designated as a regular interest in REMIC V (the “REMIC V Regular Interests”): REMIC Interests Initial Balance Interest Rate Corresponding Subgroup T5-1-A (1) 6.000% II-1 T5-1-B (1) 6.000% II-1 T5-1-C(7) (1) 6.000% II-1 T5-2-A (1) 5.500% II-2 T5-2-B (1) 5.500% II-2 T5-2-C(7) (1) 5.500% II-2 T5-3-A (1) 6.000% II-3 T5-3-B (1) 6.000% II-3 T5-3-C(7) (1) 6.000% II-3 T5-X1 (2) (3) II-1, II-3 T5-X2 (2) (4) II-2 T5-PO (5) 0.00% II-1, II-2, II-3 R-V (6) (6) N/A