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.

SR Interest. Not applicable.

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, IR Interest and the MR Interest.
The Class A-R Certificates will represent beneficial ownership of the SR Interest and the A-R 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. The sole class of "residual interest" in the -----------

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 Interest means the Membership Interest received by SRSC on the Effective Date.

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;