Tier REMIC definition

Tier REMIC. As defined in the Preliminary Statement, the assets of which consist of the Group 1 Mortgage Loans, such amounts as shall from time to time be held in the Certificate Account with respect to the Group 1 Mortgage Loans (other than amounts held in respect of the Upper-Tier Certificate Sub-Account), the insurance policies, if any, relating to a Group 1 Mortgage Loan and property which secured a Group 1 Mortgage Loan and which has been acquired by foreclosure or deed in lieu of foreclosure.

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Tier REMIC. As described in the Preliminary Statement.] [SUBJECT TO TAX REVISION]

Tier REMIC. One of the two separate REMICs comprising the Trust Fund, the assets of which consist of the assets and rights specified in clauses (i) through (viii) and (x) of the definition of the term Trust Fund.]

Examples of Tier REMIC in a sentence

• The beneficial ownership interest of the Lower Tier REMIC shall be evidenced by the interests having the designations, original Class Balances, Interest Rates and Final Distribution Dates set forth on the Lower Tier Schedule.

• Any duplicate Residual Certificate issued pursuant to this Section 5.03 shall constitute complete and indefeasible evidence of ownership in the Lower Tier REMIC or the Trust Fund, as the case may be, as if originally issued, whether or not the lost or stolen Residual Certificate shall be found at any time.

• Each such Lower Tier Regular Interest is hereby designated as a regular interest in the Lower Tier REMIC.

• The Lower Tier Regular Classes shall be issued as non-certificated interests and recorded on the records of the Lower Tier REMIC as being issued to and held by the Trustee of the Trust Fund.

• Any manner or manners in which the Certificate Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Lower Tier Classes so long as funds held in the Lower Tier REMIC by, or for the account of, the Trustee shall at all times be identified.

• The REMIC Regular Interests shall be designated as the regular interests in the Upper Tier REMIC and the Residual Interest shall be designated as the sole class of residual interest in the Upper Tier REMIC.

• Any amount so withdrawn shall no longer be a part of the Lower Tier REMIC.

• The Upper Tier REMIC shall hold as assets the several classes of uncertificated Lower Tier Regular Interests, set out below.

• The Upper Tier REMIC will consist of the Lower Tier REMIC Regular Interests and will be evidenced by the REMIC Regular Interests (which will represent the "regular interests" in the Upper Tier REMIC) and the Residual Interest as the single "residual interest" in the Upper Tier REMIC.

• The Class R Certificate represents ownership of the sole class of residual interest in each of the Lower Tier REMIC and the Upper Tier REMIC for purposes of the REMIC Provisions.

More Definitions of Tier REMIC

Tier REMIC. A Interests with a "-1-" in their designation shall relate to Subgroup I-1 Mortgage Loans and Pooling Tier REMIC-A Interests with a "-2-" in their designation shall relate to the Subgroup I-2 Mortgage Loans. The Group I Pooling Tier REMIC-A shall also issue the Class PTI-A-R Interest. The Class PTI-A-R Interest is hereby designated as the sole Class of residual interest in the Group I Pooling Tier REMIC-A. --------------------------

Tier REMIC. As defined in the Prospectus Supplement.

Tier REMIC. One of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Lower-Tier Interests.]

Tier REMIC. As described in the Preliminary Statement Master Financial: Master Financial, Inc., a California corporation.

Tier REMIC. The Lower-Tier REMIC as described in Section 2.04.