RM Interest definition

RM Interest. The REMIC residual interest, within the meaning of the REMIC Provisions, issued by the Middle REMIC, which shall be represented by the Class I-A-R Certificate.
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Examples of RM Interest in a sentence

  • The Class I-A-R Certificate shall represent ownership of the RL Interest, RM Interest and RU Interest.

  • The Class R-M Interest shall be the sole "residual interest" in the Middle-Tier REMIC.

  • Each interest identified in the second table below by a designation beginning with “M” shall be a “regular interest” in the Middle REMIC and a Middle REMIC Interest, and the RM Interest shall be the sole class of residual interest in the Middle REMIC.

  • The Class 1-A-R Certificate shall represent ownership of the Class R-U Interest, the Class R-M Interest and the Class R-L Interest.

  • The Depositor hereby further designates (i) the Uncertificated Middle-Tier Interests as classes of "regular interests" and the Class R-M Interest as the single class of "residual interest" in the Middle-Tier REMIC and (ii) the Uncertificated Lower-Tier Interests as classes of "regular interests" and the Class R-L Interest as the single class of "residual interest" in the Lower-Xxxr REMIC for the purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively.

  • The Committee may impose a limitation on the amount payable upon the occurrence of a Payment Event, which limitation shall be set forth in the written statement evidencing the grant of the Performance Award; provided, however, that such limitation shall not exceed the limit set forth in Section 1.3(d).

  • Each interest identified in the second table below by a designation beginning with "M" shall be a "regular interest" in the Middle REMIC and a Middle REMIC Interest, and the RM Interest shall be the sole class of residual interest in the Middle REMIC.

  • The segregated pool of assets consisting of the Trust Fund but excluding the Retained Yield, the Middle REMIC Interests, the Lower REMIC Interests, the RL Interest, the RM Interest, the RU Interest and the Separate Interest Trust.

  • The Class II-A-R Certificate shall represent ownership of the RL Interest, RM Interest and RU Interest.

  • The Class CB-R Certificate shall represent ownership of the Class R-U Interest, the Class R-M Interest and the Class R-L Interest.

Related to RM Interest

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.

  • Asset Interest is defined in Section 2.1(b).

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

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

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Trust Interest means an account owner's interest in the trust created by a participating trust

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

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

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

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Member Interest means an equity interest of a Member in the Company and includes any and all benefits to which such Member is entitled as provided in this Agreement, together with all obligations of such Member pursuant to the terms and provisions of this Agreement.

  • Periodic Interest means, with respect to any Payment Date, the periodic interest for such Payment Date as specified in the Series Supplement.

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

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class B Additional Interest shall have the meaning specified in subsection 4.02(b).

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Transferred Interest means, at any time of determination, an undivided percentage ownership interest in (i) each and every then outstanding Receivable, (ii) all Related Security with respect to each such Receivable, (iii) all Collections with respect thereto, and (iv) other Proceeds of the foregoing, which undivided ownership interest shall be equal to the Aggregate Percentage Factor at such time, and only at such time (without regard to prior calculations). The Transferred Interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, shall at all times be equal to the Transferred Interest in each other Receivable, together with Related Security, Collections and Proceeds with respect thereto. To the extent that the Transferred Interest shall decrease as a result of a recalculation of the Aggregate Percentage Factor, the Administrative Agent on behalf of the applicable Class Investors shall be considered to have reconveyed to the Transferor an undivided percentage ownership interest in each Receivable, together with Related Security, Collections and Proceeds with respect thereto, in an amount equal to such decrease such that in each case the Transferred Interest in each Receivable shall be equal to the Transferred Interest in each other Receivable.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

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

  • Income interest means the right of an income beneficiary to receive all or part of net income, whether the terms of the trust require it to be distributed or authorize it to be distributed in the trustee's discretion.

  • Late Payment Interest means and refer to interest on a particular Late Payment at the Default Rate.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Interest when used with respect to an Original Issue Discount Security which by its terms bears interest only after Maturity, means interest payable after Maturity.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.