Uncertificated Regular Interest definition
Uncertificated Regular Interest. Any of the REMIC I Regular Interests, REMIC II Regular Interests and REMIC III Regular Interests.
Uncertificated Regular Interest. An uncertificated ownership interest in the Lower-Tier REMIC having an Uncertificated Principal Balance and bearing interest at a rate equal to the applicable Remittance Rate.
Examples of Uncertificated Regular Interest in a sentence
Any Realized Losses allocated to REMIC 3 Uncertificated Regular Interest LT3-IC or REMIC 3 Uncertificated Regular Interest LT3-IIC shall be allocated by the Trust Administrator to the Class I-C Certificates and the Class II-C Certificates, respectively.
For federal and state income tax purposes, the Class II-C Certificateholders shall be deemed to be the owners of the Group II Reserve Fund and all amounts deposited into such Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 3 to REMIC X in respect of REMIC 3 Uncertificated Regular Interest LT3-IIC and then distributed by REMIC X to the Holders of the Class II-C Certificates.