Uncertificated Lower-Tier Interest definition
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.
Uncertificated Lower-Tier Interest. Any of the Class A-L1 Interest, the Class A-L2 Interest, the Class A-LUR Interest, the Class B-L1 Interest, the Class B-L2 Interest, the Class B-L3 Interest, the Class B-L4 Interest, the Class B-L5 Interest and the Class B-L6 Interest.
Uncertificated Lower-Tier Interest. A regular interest in the Lower-Tier REMIC which is held as an asset of the Middle-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-LIO Interest, Class 1-LPO Interest, Class 1-LS Interest, Class 1-LSES Interest, Class 2-L Interest, Class 2-LIO Interest, Class 2-LPO Interest, Class 2-LS Interest, Class 2-LSES Interest, Class 3-L Interest, Class 3-LIO Interest, Class 3-LPO Interest, Class 3-LS Interest, Class 3-LSES Interest, Class 4-L Interest, Class 4-LIO Interest, Class 4-LPO Interest, Class 4-LS Interest and Class 4-LSES Interest are Uncertificated Lower-Tier Interests.
Examples of Uncertificated Lower-Tier Interest in a sentence
The “latest possible maturity date” of each Class of the Regular Certificates and each Uncertificated Lower-Tier Interest is the Rated Final Distribution Date for the purposes of Section 860G(a)(1) of the Code.
Allocations of Realized Losses to any Class of the Principal Balance Certificates shall be deemed to result in a corresponding reduction of the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest.
As of any date, the principal balance of each Uncertificated Lower-Tier Interest will equal its Lower-Tier Principal Amount.
The Pass-Through Rate with respect to each Uncertificated Lower-Tier Interest will be the rate per annum set forth in the Introductory Statement hereto.
More Definitions of Uncertificated Lower-Tier Interest
Uncertificated Lower-Tier Interest. Any of the Class LA, Class LB, Class LVRR and LUVRR Uncertificated Interests.
Uncertificated Lower-Tier Interest. Any of the Class I-L Interest, the Class I-LS Interest, the Class II-L Interest and the Class II-LS Interest.
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-A-L1, Class 1-A-L43, Class 1-A-L45, Class 1-A-L50, Class 1-A-L51, Class 1-A-L62, Class 1-A-L63, Class 1-A-L67, Class 1-A-L68, Class 1-A-LPO, Class 1-A-LUR, Class 1-A-LWIO, Class 2-A-L1, Class 2-A-L4, Class 2-A-LPO, Class 2-A-LWIO, Class 1-LSES, Class 2-LSES, Class 1-B-L1, Class 1-B-L2, Class 1-B-L3, Class 1-B-L4, Class 1-B-L5, Class 1-B-L6, Class 2-B-L1, Class 2-B-L2, Class 2-B-L3, Class 2-B-L4, Class 2-B-L5 and Class 2-B-L6 Interests are Uncertificated Lower-Tier Interests.
Uncertificated Lower-Tier Interest. Any of the Class A-L1 Interest, the Class A-L2 Interest, the Class A-L3 Interest, the Class A-L4 Interest, the Class A-L5 Interest, the Class A-L6 Interest, the Class A-L8 Interest, the Class A-L10 Interest, the Class A-L12 Interest, the Class A-L14 Interest, the Class A-L16 Interest, the Class A-L20 Interest, the Class A-LPO Interest, the Class A-LUR Interest, the Class B-LI Interest, the Class B-L2 Interest, the Class B-L3 Interest, the Class B-L4 Interest, the Class B-L5 Interest and the Class B-L6 Interest.
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-A-L1 Interest, Class 1-A-L4 Interest, Class 1-A-L6 Interest, Class 1-A-L12 Interest, Class 1-A-L16 Interest, Class 1-A-L18 Interest, Class 1-A-LUR Interest, Class 1-LIO Interest, Class 1-LPO Interest, Class 1-M-L1 Interest, Class 1-B-L1 Interest, Class 1-B-L2 Interest, Class 1-B-L3 Interest, Class 1-B-L4 Interest, Class 1-B-L5 Interest, Class 1-B-L6 Interest, Class 2-A-L1 Interest, Class 2-A-L4 Interest, Class 2-A-L5 Interest, Class 2-A-L8 Interest, Class 2-A-L11 Interest, Class 2-LIO Interest, Class 2-LPO Interest, Class 2-M-L1 Interest, Class 2-B-L1 Interest, Class 2-B-L2 Interest, Class 2-B-L3 Interest, Class 2-B-L4 Interest, Class 2-B-L5 Interest, Class 2-B-L6 Interest are Uncertificated Lower-Tier Interests.
Uncertificated Lower-Tier Interest means each separate non-certificated beneficial ownership interest in the Lower-Tier REMIC issued hereunder and designated as a "regular interest" in the Lower-Tier REMIC. Each Uncertificated Lower-Tier Interest shall accrue interest at the Weighted Average Net Mortgage Rate, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The designations for the respective Uncertificated Lower-Tier Interests are set forth in the Preliminary Statement hereto.
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 A-L1, Class A-L2, Class A-L3, Class A-LUR, Class B-L1, Class B-L2, Class B-L3, Class B-L4, Class B-L5 and Class B-L6 Interests are Uncertificated Lower-Tier Interests. Underwriting Guidelines: The underwriting guidelines of Bank of America, N.A.