SR Interest definition

SR Interest. The sole class of "residual interest" in the Subsidiary REMIC.
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SR Interest. As defined in the Preliminary Statement.
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SR Interest. The sole class of "residual interest" in the -----------
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Examples of SR Interest in a sentence

  • The Class A-R Certificates will represent beneficial ownership of the SR Interest and the MR Interest.

  • The Trust Fund for federal income tax purposes will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund and will be evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR Interest as the single "residual interest" in the Subsidiary REMIC.

  • The Class R Certificates initially will represent beneficial ownership of the SR Interest and the MR Interest.

  • The Subsidiary REMIC will issue two interests, Subsidiary REMIC Interest I and Subsidiary REMIC Interest II, that shall be designated as regular interests of such REMIC and shall issue the SR Interest that shall be designated as the sole class of residual interest in the Subsidiary REMIC.

  • The Trust Fund for federal income tax purposes will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (other than those held by the Master REMIC) and will be evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR Interest as the single "residual interest" in the Subsidiary REMIC.

  • If, as evidenced by an Opinion of Counsel, it is necessary to preserve the REMIC status of either REMIC Pool, the SR Interest and the MR Interest shall be severed and represented by separate Certificates.

  • The Class A-R Certificates will represent beneficial ownership of the SR Interest and the A-R Interest.

  • The Class A-R Certificates will represent beneficial ownership of the SR Interest, IR Interest and the MR Interest.

  • The Subsidiary REMIC Regular Interests will represent the “regular interests” in the Subsidiary REMIC and the Class SR Interest will represent the single Class of “residual interest” in the Subsidiary REMIC.

  • The Class R Certificates will represent beneficial ownership of the SR Interest and the MR Interest.


More Definitions of SR Interest

SR Interest. Not applicable.
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SR Interest in relation to a SR-Party and a Sole Risk Operation, means the participating interest of that party in the Sole Risk Operation;
Sample 1
SR Interest in relation to a SR Party and a Sole Risk Operation, means the participating interest of that party in the Sole Risk Operation; "SR Parties" in relation to a Sole Risk Operation, means the parties participating in the Sole Risk Operation; "Wilful Misconduct" includes any act or omission committed in bad faith or with reckless disregard for the foreseeable and harmful consequences;
Sample 1
SR Interest means the Membership Interest received by SRSC on the Effective Date.
Sample 1

Related to SR Interest

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

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

  • Lower Tier Interest As described in the Preliminary Statement.

  • 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.

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

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

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

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

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

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

  • Uncertificated Lower-Tier Interest A regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and is entitled to monthly distributions as provided in Section 5.02(a) hereof. Any of the Class 1-L Interest, Class 1-LS Interest, Class 2-L Interest, Class 2-LS Interest, Class 3-L Interest, Class 3-LS Interest, Class 4-L Interest and Class 4-LS Interest are Uncertificated Lower-Tier Interests.

  • Water interest means any right to the beneficial use of water, including:

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

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

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

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

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • 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.

  • Class A Percentage Interest means, with respect to a Class A Member as of a given date, that percentage obtained by dividing the total number of Class A Units owned by such Member by the total number of Class A Units issued and outstanding.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

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

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