Subsidiary REMIC 1 definition

Subsidiary REMIC 1. As described in the Preliminary Statement.

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Subsidiary REMIC 1. The segregated group of assets consisting of all of the assets of the Trust Estate other than the Supplemental Interest Reserve Fund and the REMIC interests issued by Subsidiary REMIC 1, Subsidiary REMIC 2 and the Master REMIC as defined in Section 2.08 hereof, and constituting a REMIC created hereunder.

Subsidiary REMIC 1. Subsidiary REMIC 2", the "Middle REMIC" and the " Master REMIC"). Subsidiary REMIC 1 will consist of all of the assets constituting the Trust Fund corresponding to Loan Group I and will be evidenced by the LTA-I-A-1 Interest, LTA-I-A-2 Interest, LTA-I-A-3 Interest, LTA-▇-▇ ▇▇▇▇▇▇▇▇, ▇▇▇-▇-▇ ▇▇▇▇▇▇▇▇, ▇▇▇-▇-▇-▇ ▇▇▇▇▇▇▇t, LTA-I-B-2 Interest, LTA-I-B-3 Interest, LTA-I-B-4 Interest, LTA-I-B-5 Interest, LTA-▇-▇-▇ ▇▇▇▇▇▇▇▇, ▇-▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ (▇▇▇ "▇▇▇▇▇▇▇▇▇y REMIC 1 Interests") which will be uncertificated and will represent the "regular interests" in Subsidiary REMIC 1 and the R-1 Interest as the single "residual interest" in REMIC 1. Subsidiary REMIC 2 will consist of the Loan Group II Mortgage Loans and will be evidenced by the LTB-II-Support Interest, LTB II-NAS Interest (the "Subsidiary REMIC 2 Regular Interests") and the R-2 Interest as the single "residual interest" in REMIC 2. The Middle REMIC will consist of the REMIC 1 Regular Interests and REMIC 2 Regular Interests and will be evidenced by the Class MT-I-A-1 Interest, Class MT-I-A-2 Interest, Class MT-I-A-3 Interest, Class MT-I-P Interest, Class MT-I-X Interest, Class MT-I-B-1 Interest, Class MT-I-B-2 Interest, Class MT-I-B-3 Interest, Class MT-I-B-4 Interest, Class MT-I-B-5 Interest, Class MT-I-B-6 Interest, Class MT-I-Excess Interest, Class II-A-1 Interest, Class II-A-2 Interest, Class II-A-3 Certificates, Class II-A-4 Certificates, Classn A-II-5 Certificates, Class II-A-IO Interest, Class II-M-1 Interest, Class II-M-2 Interest, Class II-B Interest, and Class II-Accrual Interest (which will represent the "regular interests" in the Middle REMIC) and the R-3 Interest as the single "residual interest" in the Middle REMIC. The Master REMIC will consist of the Middle REMIC Regular Interests and will be evidenced by the Class I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class II-A-4 Certificates, Class II-A-5 Certificates, Class II-A-IO Certificates, Class II-X Certificates, Class II-M-1 Certificates, Class II-M-2 Certificates, Class II-B Certificates, Class I-B-1 Certificates, Class I-B-2 Certificates, Class I-B-2 Certificates, Class I-B-3 Certificates, Class I-B-4 Certificates, Class I-B-5 Certificates, Class I-B-6 Certificates, Class I-P Certificates and Class I-X Certificates (which will represent the "regular interests" in the Master REMIC) and the R-4 Interest as the single "residual interest"...

Examples of Subsidiary REMIC 1 in a sentence

The Class AR-L Certificates represent ownership of the sole class of residual interest in Subsidiary REMIC 1 and Subsidiary REMIC 2 for purposes of the REMIC Provisions.
Subsidiary REMIC 2 shall hold as its assets the uncertificated REMIC regular interests issued by Subsidiary REMIC 1.
Subsidiary REMIC 1 shall hold as its assets the Mortgage Loans in Loan Group 1, and all collections and accounts related thereto.
Middle REMIC 1 shall hold as its assets the several classes of uncertificated Lower Tier Interests in Subsidiary REMIC 1 and Subsidiary REMIC 2, other than the Class LT1-R and LT2-R Interests, and each such Lower Tier Interest is hereby designated as a regular interest in the applicable Subsidiary REMIC.
In addition, Subsidiary REMIC 1 shall issue the R-1 interest and shall designate such interest as its sole class of residual interest.
Middle REMIC 1 shall hold as its assets the several classes of uncertificated Lower Tier Interests in Subsidiary REMIC 1 and Subsidiary REMIC 2, other than the Class LT1-R and Class LT2-R Interests, and each such Lower Tier Interest is hereby designated as a regular interest in a Subsidiary REMIC.
The Class AR-L Certificates represent ownership of the sole class of residual interest in Subsidiary REMIC 1 for purposes of the REMIC Provisions.
Middle REMIC 1 shall hold as its assets the several classes of uncertificated Lower Tier Interests in Subsidiary REMIC 1, other than the Class LT1-R Interest, and each such Lower Tier Interest is hereby designated as a regular interest in Subsidiary REMIC 1.
Subsidiary REMIC 1 shall hold as its assets the Mortgage Loans and all collections and accounts related thereto.
In addition, Subsidiary REMIC 1 shall issue the Class A-LR Certificate and shall designate such interest as its sole class of residual interest.

More Definitions of Subsidiary REMIC 1

Subsidiary REMIC 1. As described in Section 2.05.