Underlying REMIC Security definition

Underlying REMIC Security. As defined in the Recitals to this Agreement.
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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.
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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.
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Examples of Underlying REMIC Security in a sentence

  • 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.

  • 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 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.

  • 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.

  • 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.

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

  • Each Class of Class A Certificates and each Class of Class AB Certificates or Class AB Components shall be entitled, as set forth in Section 4.2(a) below, to receive interest in arrears on each Distribution Date based upon the accrual period, basis, day count fraction and business day convention applicable to the corresponding Underlying REMIC Security.

  • 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.

  • 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 not vote such Underlying REMIC Security except upon direction to do so from Holders of Grantor Trust Certificates aggregating not less than 51% of the aggregate of the Certificate Balances of the FL Class.

  • If the Issuer fails to transfer the entire legal ownership in and to each Underlying REMIC Security to the Trust, the Issuer intends that the Trust Documents nevertheless will operate to transfer the entire equitable ownership interest in and to each Underlying REMIC Security to the Trustee for the Trust.

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. ARTICLE II The Trust

  • 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.

  • 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, on any date of determination, a Mortgage Loan:

  • 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.

  • Collateral Interest Rate means the rate published in The Wall Street Journal as the “Prime Rate” from time to time (or, if more than one such rate is published, the arithmetic mean of such rates), or, if such rate is no longer published, a successor rate agreed to by Buyer and Seller, in each case determined as of the date the obligation to pay interest arises, but in no event more than the maximum rate permitted by applicable Law in transactions involving entities having the same characteristics as the Parties.

  • 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 any share of Common Stock, any warrant to purchase shares of Common Stock or any other security of the Company or any other entity that is convertible into, or exercisable or exchangeable for, shares of Common Stock or any other equity security of the Company, in each case owned beneficially or otherwise by the undersigned on the date of closing of the Public Offering or acquired by the undersigned during the Lock-Up Period. The restrictions in the foregoing paragraph shall not apply to any exercise (including a cashless exercise or broker-assisted exercise and payment of tax obligations) of options or warrants to purchase shares of Common Stock; provided that any shares of Common Stock received upon such exercise, conversion or exchange will be subject to this Lock-Up Period. The Lock-Up Period will commence on the date of this Lock-up Agreement and continue and include the date that is one-hundred and eighty (180) days after the closing of the Public Offering. In addition, the undersigned further agrees that, except for the registration statement filed or to be filed in connection with the Public Offering, during the Lock-Up Period the undersigned will not, without the prior written consent of the Representative: (a) file or participate in the filing with the SEC of any registration statement or circulate or participate in the circulation of any preliminary or final prospectus or other disclosure document, in each case with respect to any proposed offering or sale of a Relevant Security, or (b) exercise any rights the undersigned may have to require registration with the SEC of any proposed offering or sale of a Relevant Security. In furtherance of the undersigned’s obligations hereunder, the undersigned hereby authorizes the Company during the Lock-Up Period to cause any transfer agent for the Relevant Securities to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, Relevant Securities for which the undersigned is the record owner and the transfer of which would be a violation of this Lock-Up Agreement and, in the case of Relevant Securities for which the undersigned is the beneficial but not the record owner, agrees that during the Lock-Up Period it will cause the record owner to cause the relevant transfer agent to decline to transfer, and to note stop transfer restrictions on the stock register and other records relating to, such Relevant Securities to the extent such transfer would be a violation of this Lock-Up Agreement. Notwithstanding the foregoing, the undersigned may transfer the undersigned’s Relevant Securities:

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