Subsidiary REMIC 3 definition

Subsidiary REMIC 3. As described in the Preliminary Statement.
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Subsidiary REMIC 3. As described in the Preliminary Statement. Subsidiary REMICs: Subsidiary REMIC 1, Subsidiary REMIC 2 and Subsidiary REMIC 3.
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Subsidiary REMIC 3. The segregated group of assets consisting of the Subsidiary REMIC 2 Regular Interests (as defined in Section 2.08 hereof) and constituting a REMIC created hereunder.
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Examples of Subsidiary REMIC 3 in a sentence

  • The Class AR-L Certificates represent ownership of the sole class of residual interest in Subsidiary REMIC 1, Subsidiary REMIC 2, and Subsidiary REMIC 3 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, Subsidiary REMIC 2, and Subsidiary REMIC 3, other than the Class LT1-R, Class LT2-R, and Class LT3-R Interests, and each such Lower Tier Interest is hereby designated as a regular interest in a Subsidiary REMIC.

  • Middle REMIC 1 shall hold as its assets the several classes of uncertificated Lower Tier Interests in Subsidiary REMIC 1, Subsidiary REMIC 2, and Subsidiary REMIC 3, other than the Class LT1-R, Class LT2-R, and LT3-R Interests, and each such Lower Tier Interest is hereby designated as a regular interest in a Subsidiary REMIC.

  • The Class AR Certificates represent ownership of the sole class of residual interest in each of the Subsidiary REMIC 1, Subsidiary REMIC 2, Subsidiary REMIC 3, Subsidiary REMIC 4, Middle REMIC and the Master REMIC for purposes of the REMIC Provisions.

  • Subsidiary REMIC 3 shall hold as its assets the Mortgage Loans in Loan Group V, Loan Group VI, Loan Group VII, and Loan Group IX and all collections and accounts related thereto.

  • Subsidiary REMIC 3 shall hold as its assets the Mortgage Loans in Loan Group IV and Loan Group V, and all collections and accounts related thereto.

  • Subsidiary REMIC 3 shall hold as its assets the Mortgage Loans in Loan Group II and Loan Group III and all collections and accounts related thereto.

  • As provided herein, the Trustee shall elect that the Trust Fund (exclusive of the assets held in each Basis Risk Reserve Fund) be treated for federal income tax purposes as comprising six real estate mortgage investment conduits (each a “REMIC” or, in the alternative, the Subsidiary REMIC 1, Subsidiary REMIC 2, Subsidiary REMIC 3, Subsidiary REMIC 4, Middle REMIC and Master REMIC”).

  • Subsidiary REMIC 3 shall hold as its assets the Mortgage Loans in Loan Group II, Loan Group IV, Loan Group V, and Loan Group VII, and all collections and accounts related thereto.

  • Subsidiary REMIC 3 shall hold as its asset the Group III Mortgage Loans, the Group IV Mortgage Loans, the Group VII Mortgage Loans and all collections and accounts related thereto.


More Definitions of Subsidiary REMIC 3

Subsidiary REMIC 3. The following table sets forth (or describes) the class designation, interest rate, and initial principal balance for each Subsidiary REMIC 3 Interest (each such Interest other than the LT3-R Interest, a “Subsidiary REMIC 3 Regular Interest”): Corresponding Interest Initial Class of Master Designation Interest Rate Principal Balance REMIC Certificates MT-A1 (1) (5) Class A-1 MT-A2 (1) (5) Class A-2 MT-A3 (1) (5) Class A-3 MT-A4 (1) (5) Class A-4 MT-A5 (1) (5) Class A-5 MT-A6 (1) (5) Class A-6 MT-AV (1) (5) Class AV MT-M1 (1) (5) Class M-1 MT-M2 (1) (5) Class M-2 MT-B1 (1) (5) Class B-1 MT-B2 (1) (5) Class B-2 MT-AIO (2) (2) Class A-IO MT-Grp IA (3) (6) Not Applicable
Sample 1

Related to Subsidiary REMIC 3

  • Subsidiary REMIC As described in the Preliminary Statement.

  • Subsidiary REMIC Interest Any one of the Subsidiary REMIC Interests or the SR-A-R Interest.

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

  • Subsidiary Redesignation shall have the meaning provided in the definition of “Unrestricted Subsidiary” contained in this Section 1.01.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Lower-Tier REMIC As described in the Preliminary Statement.

  • Upper-Tier REMIC As described in the Preliminary Statement.

  • Uncertificated REMIC II Pass-Through Rate With respect to any Distribution Date and each REMIC II Regular Interest other than REMIC II Regular Interest C, REMIC II Regular Interest P and REMIC II Regular Interest A-1, a rate per annum equal to the Pass-Through Rate for the Class of Corresponding Certificates for such Distribution Date; provided, however, that for this purpose the Net Rate Cap with respect to each such Class of Corresponding Certificates shall be equal to the weighted average of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest, for such Distribution Date. With respect to REMIC II Regular Interest A-1 and (i) any Distribution Date which occurs on or prior to the Optional Termination Date, the lesser of (a) 6.50% per annum and (b) the weighted average of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest, for such Distribution Date, and (ii) any Distribution Date thereafter, the lesser of (a) 7.00% per annum and (b) the weighted average of the Uncertificated REMIC I Pass-Through Rates for the REMIC I Regular Interests (other than REMIC I Regular Interest P), weighted on the basis of the Uncertificated Principal Balances of each such REMIC I Regular Interest, for such Distribution Date. With respect to REMIC II Regular Interest C, a rate per annum equal to the percentage equivalent of a fraction, the numerator of which is the sum of the amount determined for each REMIC I Regular Interest (other than REMIC I Regular Interest P) equal to the product of (x) the excess, if any, of the Uncertificated REMIC I Pass-Through Rate for such REMIC I Regular Interest over the Marker Rate and (y) a notional amount equal to the Uncertificated Principal Balance of such REMIC I Regular Interest, and the denominator of which is the aggregate Uncertificated Principal Balance of such REMIC I Regular Interests. With respect to REMIC II Regular Interest P, 0.00% per annum.

  • Uncertificated REMIC I Pass-Through Rate With respect to any Distribution Date, a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans in effect for the scheduled Monthly Payments due on such Mortgage Loans during the related Due Period.

  • REMIC I Assets All of the Mortgage Pool Assets.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Computershare Trust Company, National Association, as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of BMO 2022-C1 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2022-C1, and the Uncertificated Interest Owners, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account. The Upper-Tier REMIC Distribution Account shall be an asset of the Upper-Tier REMIC.

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

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as another Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Unrestricted Subsidiary Indebtedness of any Unrestricted Subsidiary means Indebtedness of such Unrestricted Subsidiary

  • Subsidiary Interests means, collectively, the issued and outstanding shares of stock of the Subsidiary Debtors as of the Petition Date and any options, warrants or other contractual rights to acquire any shares of stock of the Subsidiary Debtors as of the Petition Date.

  • Middle-Tier REMIC As described in the Preliminary Statement.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • Uncertificated REMIC 1 Pass-Through Rate With respect to each REMIC 1 Regular Interest and any Distribution Date, a per annum rate equal to the average of the Net Mortgage Rates of the Mortgage Loans, weighted on the basis of the Stated Principal Balances thereof as of the close of business on the last day of the calendar month preceding the month in which such Distribution Date occurs.

  • REMIC II Assets The REMIC I Regular Interests.

  • Special Pass-Through Entity means a grantor trust, S corporation, or partnership (as determined, in each case, for Federal income tax purposes) where more than 50% of the value of any beneficial owner’s interest in such pass through entity is attributable to the pass-through entity’s interest in the Retained Note.

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

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

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

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