UR Interest definition

UR Interest. The sole class of "residual interest" in the Upper-Tier REMIC.
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Examples of UR Interest in a sentence

  • The Upper-Tier REMIC also will issue the uncertificated Class UR Interest, which is the sole Class of “residual interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates.

  • If, as evidenced by an Opinion of Counsel, it is necessary to preserve the REMIC status of any of the Lower-Tier REMIC, the Middle-Tier REMIC or the Upper-Tier REMIC, the LR Interest, the MR Interest and the UR Interest shall be severed and represented by separate Certificates.

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

  • The Class UR Interest shall be the "residual interest" in the Upper-Tier REMIC for purposes of the REMIC Provisions.

  • DocuSign Envelope ID: 77D3E674-4629-4797-B5ED-57FEE824C3D4 Grantee shall ensure the amount of the funds expended for all eligible project-related engineering services, including preliminary and final design plans and specifications, all interim and final inspections, and all special services, does not exceed the amount specified for Engineering in the Budget.

  • None of the LR Interest, the MR Interest or the UR Interest shall have a principal balance or bear interest.

  • The Class R Certificate initially will represent beneficial ownership of the LR Interest, the MR Interest and the UR Interest.

  • For the purposes of the REMIC election in respect of the Upper-Tier REMIC, (i) each Class of the Regular Certificates (exclusive of the portion of the Class NR Certificates representing an interest in the Grantor Trust) shall be designated as the “regular interests” and the Class UR Interest shall be designated as the sole class of “residual interests” in the Upper-Tier REMIC.

  • For the purposes of the REMIC election in respect of the Upper-Tier REMIC, each Class of the Regular Certificates shall be designated as the “regular interests” and the Class UR Interest shall be designated as the sole class of “residual interests” in the Upper-Tier REMIC.

  • For the purposes of the REMIC election in respect of the Upper-Tier REMIC, each Class of the Regular Certificates shall be designated the “regular interests,” and the Class UR Interest shall be designated the sole class of “residual interests” in the Upper-Tier REMIC.

Related to UR Interest

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

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as 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 R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • 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.