Underlying REMIC Class definition

Underlying REMIC Class. A Regular Class included in a Guaranteed Maturity REMIC Pool related to one or more Guaranteed Maturity Classes. On each Payment Date on which Guaranteed Maturity Classes are outstanding, their Holders will receive the principal and interest payments made on the same Payment Date on the related Underlying REMIC Classes.
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Examples of Underlying REMIC Class in a sentence

  • If there are excess proceeds after such liquidation and payments to the Holders of each such Guaranteed Maturity Class (and any related MACR Classes), such excess proceeds shall be distributed to the Residual Class for the Guaranteed Maturity REMIC Pool that held the related Underlying REMIC Class.

  • A REMIC Pool that includes an Underlying REMIC Class or one or more Regular Interests in a separate Guaranteed Maturity REMIC Pool.

  • Unless prohibited from bidding in the auction under the immediately preceding sentence, the Depositor may participate in the bidding process but shall not bid higher than the fair market value of any Underlying REMIC Class.

  • The Administrator shall sell the Underlying REMIC Class to the highest bidder and shall deliver the Underlying REMIC Class to its purchaser in the purchaser’s name on or before the Business Day prior to the Final Payment Date for each related Guaranteed Maturity Class.

  • With respect to any Guaranteed Maturity REMIC Pool, the Administrator shall conduct an auction on a date within the period specified in subsection (b) of this Section 2.07 of the Underlying REMIC Class in such Guaranteed Maturity REMIC Pool.

  • Xxxxxxx Mac shall sell the Underlying REMIC Class to the highest bidder and shall deliver the Underlying REMIC Class to its purchaser in the purchaser's name on or before the Business Day prior to the Final Payment Date for each related Guaranteed Maturity Class.

  • Form of ClassesRegular and MACR Classes: Book-entry on Fed SystemResidual and Call Classes: CertiÑcated Guaranteed Maturity ClassThe Call Class, Callable Class and Underlying REMIC Class related to the Guaranteed Maturity Class shown on the front cover are shown below.

  • Xxxxxxx Mac hereby agrees that it will not bid higher than the fair market value of any Underlying REMIC Class.

  • The Callable Class will represent an interest in a callable pass-through pool (the ""Callable Pool'') that includes a single RKMIC Class (the ""Underlying REMIC Class'') of this Series.

  • Xxxxxxx Mac, as administrator of the related Guaranteed Maturity REMIC Pool, shall conduct an auction on a date within the period specified in subsection (b) of this Section 2.07 of the Underlying REMIC Class in such Guaranteed Maturity REMIC Pool.

Related to Underlying REMIC Class

  • Class X-D Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-12 hereto.

  • Class A Certificate Principal Balance As of any date of determination, the sum of the Class A-1 Certificate Principal Balance, the Class A-2A Certificate Principal Balance, the Class A-2B Certificate Principal Balance, the Class A-2C Certificate Principal Balance, the Class A-2D Certificate Principal Balance and the Class R Certificate Principal Balance.

  • Class X-B Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-7 hereto.

  • Class Certificate Principal Balance As to any Class of Certificates, other than any Class of Notional Certificates, and as of any date of determination, the aggregate of the Certificate Principal Balances of all Certificates of such Class. The Class Certificate Principal Balance of each such Class of Certificates as of the Closing Date is specified in Section 5.01(b).

  • Original Class Certificate Principal Balance With respect to the Class A Certificates, the Mezzanine Certificates, the Class C Certificates and the Class P Certificates, the corresponding amounts set forth opposite such Class above in the Preliminary Statement.

  • Certificate Notional Balance With respect to each Certificate of Class X and any date of determination, the product of (i) the Class Certificate Notional Balance of such Class and (ii) the applicable Percentage Interest of such Certificate.

  • Initial Certificate Principal Balance With respect to each Class of Certificates, the Certificate Principal Balance of such Class of Certificates as of the Cut-off Date, as set forth in the Series Supplement.

  • Class B Certificate Rate means, for any Interest Period with respect to the Class B Certificates, a per annum rate equal to LIBOR as of the LIBOR Determination Date for such Interest Period plus the Class B Certificate Rate Spread.

  • Class B Certificates The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates.

  • Certificate Principal Balance With respect to each Certificate (other than any Interest Only Certificate), on any date of determination, an amount equal to:

  • Group II Class A Certificates The Class A-2a Certificates, the Class A-2b Certificates, the Class A-2c Certificates and the Class A-2d Certificates, collectively.

  • Class J Certificate means any one of the Certificates with a "Class J" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • LIBOR Certificates As specified in the Preliminary Statement.

  • Class X-A Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-6 hereto.

  • Subordinate Certificates As specified in the Preliminary Statement.

  • Class X Notional Balance With respect to any Distribution Date (and the related Accrual Period) the aggregate principal balance of the regular interests in REMIC 3 as specified in the Preliminary Statement hereto.

  • Class A Certificates The Class A-1, Class A-2, Class A-3 and Class A-4 Certificates.

  • Class A Certificate Rate means, for any Interest Accrual Period with respect to the Class A Certificates, a per annum rate equal to LIBOR plus 0.11%.

  • Class SB Certificate Any one of the Certificates designated as a Class SB Certificate. Class X Certificate: Any one of the Certificates designated as a Class X Certificate.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Class X Certificates All Certificates bearing the class designation of "Class X".

  • Mezzanine Certificates Collectively, the Class M-1 Certificates, the Class M-2 Certificates, the Class M-3 Certificates, the Class M-4 Certificates, the Class M-5 Certificates, the Class M-6 Certificates, the Class M-7 Certificates, the Class M-8 Certificates, the Class M-9 Certificates and the Class M-10 Certificates.

  • Mezzanine Certificate Any Class M-1 Certificate, Class M-2 Certificate or Class M-3 Certificate.

  • Original Certificate Principal Balance With respect to any Class of Certificates, the amount specified for such Class in Section 4.01(d).

  • Initial Class Principal Balance As set forth in the Preliminary Statement.

  • Class A-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class A-1 Certificates.