Underlying REMIC Security definition

Underlying REMIC Security. As defined in the Recitals to this Agreement.
Sample 1Sample 2Sample 3
Underlying REMIC Security. In respect of each Certificate or Class AB Component, the related mortgage-backed security that is identified in the schedule attached hereto as Exhibit A. Underlying REMIC Securities Trust Fund: The trust fund in which the Underlying REMIC Securities evidence fractional undivided interests.
Sample 1
Underlying REMIC Security. As specified in the Prospectus Supplement. Group 5 Underlying REMIC Security: As specified in the Prospectus Supplement. Group 6 Underlying REMIC Security: As specified in the Prospectus Supplement. Group 7 Underlying REMIC Security: As specified in the Prospectus Supplement. Group 8 Underlying REMIC Security: As specified in the Prospectus Supplement.
Sample 1

Examples of Underlying REMIC Security in a sentence

  • Xxxxxx Mae shall designate in such accounting records that 100% of each distribution on the Underlying REMIC Security is included in the Principal Distribution Amount and the Interest Distribution Amount.

  • The Trustee shall establish and maintain accounting records in which distributions on the Underlying REMIC Security are recorded.

  • Xxxxxx Mae, acting in its corporate capacity, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Xxx, acting in its capacity as Trustee, all of Xxxxxx Mae’s right, title and interest in and to the Underlying REMIC Security, including all payments of principal and interest thereon beginning in October 2004.

  • In the event that there shall be any matter arising under any Underlying Trust Agreement which requires the vote of holders of certificates outstanding thereunder, the Trustee as the holder of the related Underlying REMIC Security shall vote such Underlying REMIC Security in accordance with instructions received from Holders of the related Group of Classes having Certificate Balances aggregating not less than 51% of the aggregate of the Certificate Balances of such Classes.

  • Xxxxxx Xxx, acting in its capacity as Trustee, acknowledges the transfer and assignment to it of the Underlying REMIC Security and hereby declares that it will hold the same in trust for the Certificateholders on the terms in this Trust Agreement contained.

  • In the event that there shall be any matter arising under the Underlying REMIC Security Agreement that requires the vote of holders of certificates outstanding thereunder, the Trustee as the holder of the Underlying REMIC Security shall vote such Underlying REMIC Security in accordance with instructions received from Holders of Certificates representing not less than 51% of the Percentage Interests.

  • Xxxxxx Xxx, acting in its corporate capacity, does hereby transfer, assign, set over and otherwise convey to Xxxxxx Mae, acting in its capacity as Trustee for Xxxxxx Xxx Trust 2007-38 established hereby, all of Xxxxxx Mae’s right, title and interest in and to the MBS and the Underlying REMIC Security, including all payments of principal and interest thereon received after the month of the Issue Date.

  • Any Person that transfers MBS or the Underlying REMIC Security in its capacity as principal to Xxxxxx Mae in exchange for Certificates or cash.

  • In the event that there shall be any matter arising under any Underlying Trust Agreement which requires or permits the vote of holders of certificates outstanding thereunder, the Trustee as the holder of the related Underlying REMIC Security shall vote such Underlying REMIC Security in accordance with instructions received from Holders of the related Group of Classes having Certificate Balances aggregating not less than 51% of the aggregate of the Certificate Balances of such Classes.

  • In the event that there shall be any matter arising under any Underlying Agreement which requires or permits the vote of holders of certificates outstanding thereunder, the Trustee as the holder of the related Underlying REMIC Security shall vote such Underlying REMIC Security in accordance with instructions received from Holders of the related Certificates having Certificate Balances aggregating not less than 51% of the aggregate of the Certificate Balances of such Certificates.

Related to Underlying REMIC Security

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

  • Underlying REMIC Certificates The REMIC Certificates held in the Trust and evidencing beneficial interests in the REMIC Trust. US Bank: U.S. Bank National Association, a national banking association.

  • Underlying Security means a security issued or transferred, or to be issued or transferred, in accordance with the terms of a convertible security, an exchangeable security or a multiple convertible security;

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • REMIC Eligible Mortgage Loan A Mortgage Loan held by a REMIC which satisfies and/or complies with all applicable REMIC Provisions.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • Indexed Security means a Security the terms of which provide that the principal amount thereof payable at Stated Maturity may be more or less than the principal face amount thereof at original issuance.

  • Related Security means, with respect to any Receivable:

  • Eligible Mortgage Loan means a Mortgage Loan (including a Wet Funded Loan) with respect to which each of the following statements shall be accurate and complete (and Borrower, by including such Mortgage Loan in any computation of the Borrowing Base, shall be deemed to so represent and warrant to the Lenders as of the date of such computation):

  • Loaned Security means any “security” which is delivered as a Loan under a Securities Loan Agreement; provided that, if any new or different security shall be exchanged for any Loaned Security by recapitalization, merger, consolidation, or other corporate action, such new or different security shall, effective upon such exchange, be deemed to become a Loaned Security in substitution for the former Loaned Security for which such exchange was made.

  • Underlying Asset means the object or underlying asset in a CFD which may be Currency Pairs (for FX Contracts), Equity Indices, base or precious Metals, Forwards, Commodities, Stocks, Shares Indices and Futures. It is understood that the list is subject to change and Clients must refer each time on the Trading Platform.

  • Mortgage Loan Rate means, as of any date of determination, the weighted average of the Note A Rate and the Note B Rate.

  • Mortgage Note The original executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

  • Pool Receivable means a Receivable in the Receivables Pool.

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • Asset-backed security means a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders;

  • Physical Security has the meaning specified in Section 303.

  • Underlying Market means the relevant market where the Underlying Asset of a CFD is traded.

  • Covered Security means a security as defined in Section 2(a)(36) of the Act, which includes: any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, pre-organization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a “security,” or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase, any of the foregoing.

  • Mortgage-related security means an obligation that is rated AA or higher (or the equivalent) by a securities rating agency recognized by the Securities Valuation Office of the NAIC and that either:

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Mortgage Notes means, collectively, the promissory notes aggregating $310,000,000 principal amount issued pursuant to the Mortgage Note Agreements, dated December 12, 1991 and executed by the Operating Partnership, together with and any loan agreement and security documents executed in connection therewith, any and all instruments given in renewal, extension, modification, or rearrangement of or in substitution or replacement for any one or more of the foregoing described promissory notes and other documents, whether given to the original purchaser thereof (or its designee) or any other Person and other documents.

  • Relevant Security means the Stock, any other equity security of the Company or any of its subsidiaries and any security convertible into, or exercisable or exchangeable for, any Stock or other such equity security.

  • Mortgage-Backed Security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Mortgage Loan Remittance Rate With respect to each Mortgage Loan, the annual rate of interest remitted to the Purchaser, which shall be equal to the Mortgage Interest Rate minus the Servicing Fee Rate.