REMIC VII definition

REMIC VII. The segregated pool of assets consisting of the Class I-IO Interest conveyed in trust to the Trustee, for the benefit of the holders of REMIC VII Regular Interest IO and the Class I-RX Certificate (in respect of the Class I-R-7 Interest), with respect to which a separate REMIC election is to be made.
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REMIC VII. The segregated pool of assets consisting of the Class CE-2 Interest conveyed in trust to the Trustee, for the benefit of the Holders of CE-2 Certificates and the Class R-X Certificate (in respect of the Class R-VII Interest), pursuant to Section 2.10 hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
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REMIC VII. The segregated pool of assets consisting of the Class P Interest conveyed in trust to the Trustee, for the benefit of the Class P Certificates and the Class R-VII Interest and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
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Examples of REMIC VII in a sentence

  • The Trustee acknowledges receipt of the Class I-IO Interest (which is uncertificated) and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC VII Interests.

  • The Class I-IO Interest shall constitute the assets of REMIC VII.

  • For federal income tax purposes, such amounts paid to the Group I Supplemental Interest Trust on each Distribution Date shall first be deemed paid to the Group I Supplemental Interest Trust in respect of REMIC VII Regular Interest IO to the extent of the amount distributable on such REMIC VII Regular Interest IO on such Distribution Date, and any remaining amount shall be deemed paid to the Group I Supplemental Interest Trust in respect of a Group I Class IO Distribution Amount.

  • The Group I Supplemental Interest Trust shall hold the Group I Swap Agreement, the rights in respect of the Swap Administration Agreement that relate to Loan Group I, the Group I Swap Account and REMIC VII Regular Interest IO.

  • The REMIC VI Regular Interests shall constitute the assets of REMIC VII.

  • The Class CE-2 Certificates shall be designated as the Regular Interest in REMIC VII and the Class R-VII Interest shall be designated as the Residual Interest in REMIC VII.

  • The Class P Certificates shall be designated as Regular Interests in REMIC VII and the Class R-VII Interest shall be designated as the Residual Interest in REMIC VII.

  • The Class R-X Certificates will evidence ownership of the "residual interest" in REMIC VII.

  • On the Startup Day, the REMIC VII Regular Interest will be designated the "regular interest" in such REMIC.

  • The rights of the Class R-X Certificates, in respect of the Class R-VII Interest, and REMIC VII (as holder of the Class P Certificates) to receive distributions from the proceeds of REMIC VII, and all ownership interests evidenced or constituted by the Class R-X Certificates, in respect of the Class R-VII Interest, and the Class P Certificates shall be as set forth in this Agreement.


More Definitions of REMIC VII

REMIC VII. That group of assets contained in the Trust Fund designated as a REMIC consisting of REMIC VI Regular Interests B-IO-I and B-IO-P and any proceeds thereof.
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REMIC VII. The segregated pool of assets consisting of all of the REMIC VI Regular Interests conveyed in trust to the Trustee for the benefit of the Certificateholders pursuant to Section 2.12 and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
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REMIC VII. As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the Class I-C-1 REMIC III Regular Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC VII." The Class RX-VII Interest represents the sole class of "residual interests" in REMIC VII for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and initial Uncertificated Balance for the Class I-C-1 REMIC VII Regular Interest that represents a "regular interest" in REMIC VII created hereunder: Initial Uncertificated Latest Possible Class Designation Pass-Through Rate Balance Maturity Date(1) Class I-C-1 (2) (2) December 25, 2036 ________________
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REMIC VII. The pool of assets consisting of the REMIC VI Regular Interests and all payments of principal or interest on or with respect to the REMIC VI Regular Interests after the Cut Off Date.
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Related to REMIC VII

  • 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.

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

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

  • 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 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.