Upper Tier Interest definition

Upper Tier Interest. As described in the Preliminary Statement.
Sample 1Sample 2Sample 3
Upper Tier Interest. Any one of the interests in the Upper-Tier REMIC as described in the Preliminary Statement to this Agreement.
Sample 1Sample 2Sample 3
Upper Tier Interest an Interest in the Company or the Financing LLC.
Sample 1Sample 2

Examples of Upper Tier Interest in a sentence

  • Accrued interest, if any, on any LIBOR Certificate and on each Upper Tier Interest other than the Class B-PO, Class B-IO, and Class R Interests shall be calculated based upon a 360-day year and the actual number of days in each Accrual Period.

  • In the event that the portion of such funds allocable to principal shall be less than the Upper Tier Principal Distribution Amount or, correspondingly, the portion of such funds allocable to interest shall be less than the Upper Tier Interest Distribution Amount, then Xxxxxx Xxx shall provide the related portion(s) from its own funds in respective amounts sufficient to remedy such shortfall.

  • Instead, the monthly interest due on the Class Swap IO Upper Tier Interest will be 100% of the interest paid on the Class Swap IO Interest.

  • The Class R Certificates will represent beneficial ownership of the Lower Tier Interest and the Upper Tier Interest.

  • The Upper Tier REMIC will consist of the Lower Tier REMIC Regular Interests and will be evidenced by the Regular Certificates (which will represent the "regular interests" in the Upper Tier REMIC) and the Upper Tier Interest as the single "residual interest" in the Upper Tier REMIC.

  • For the purposes of such elections, each Lower Tier Interest, other than the Class LT-R Interest, is hereby designated as a regular interest in the Lower Tier REMIC, and each Upper Tier Interest, other than the Class UT-R Interest, is hereby designated as a regular interest in the Upper Tier REMIC.


More Definitions of Upper Tier Interest

Upper Tier Interest the sole class of "residual interest" in the --------------------- Upper-Tier REMIC.
Sample 1

Related to Upper Tier Interest

  • Lower Tier Interest As described in the Preliminary Statement.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Upper-Tier REMIC As described in the Preliminary Statement.

  • Lower-Tier Interest Rate As described in the Preliminary Statement.

  • Lower-Tier REMIC As described in the Preliminary Statement.

  • 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.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • Upper-Tier Regular Interest As described in the Preliminary Statement.

  • Uncertificated Lower-Tier Interests Any of the Class LA1, Class LA2, Class LA3, Class LA4, Class LA5, Class LASB, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR Uncertificated Interests.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.

  • Upper-Tier Certificate Any one of the Class A Certificates (other than the Class A-LR Certificate) and the Class B Certificates.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Lower-Tier Regular Interest Each of the Class LT-A-1, Class LT-A-2, Class LT-A-3, Class LT-A-4, Class LT-M-1, Class LT-M-2, Class LT-M-3, Class LT-M-4, Class LT-M-5, Class LT-M-6, Class LT-B-1, Class LT-B-2, Class LT-B-3, Class LT-IO and Class LT-Accrual Interests as described in the Preliminary Statement.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2020-GC46, Commercial Mortgage Pass-Through Certificates, Series 2020-GC46, and the Uncertificated VRR Interest Owner, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.