Variable Servicing Interest definition

Variable Servicing Interest. The uncertificated undivided beneficial interest in REMIC II which constitutes a REMIC II Regular Interest and is entitled to distributions as set forth herein.
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Variable Servicing Interest. The uncertificated undivided beneficial interest in REMIC II which constitutes a REMIC II Regular Interest and is entitled to distributions as set forth herein. ▇▇▇▇▇ Fargo: ▇▇▇▇▇ Fargo Bank, National Association. Withdrawal Date: Any day during the period commencing on the 18th day of the month of the related Distribution Date (or if such day is not a Business Day, the immediately preceding Business Day) and ending on the last Business Day prior to the 21st day of the month of such Distribution Date. The “related Due Date” for any Withdrawal Date is the Due Date immediately preceding the related Distribution Date.
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Examples of Variable Servicing Interest in a sentence

  • The Trustee hereby acknowledges and accepts on behalf of the Trust the assignment to the Trust of the REMIC II Assets and declares that as of the Closing Date it holds and shall hold any documents constituting a part of the REMIC II Assets, and the REMIC II Assets, as Trustee in trust, upon the trust herein set forth, for the use and benefit of all present and future Holders of the Certificates (other than the Class R Certificates), the Class R-2 Residual Interest and the Variable Servicing Interest.

  • Amounts distributed to the Holder of the Variable Servicing Interest pursuant to clause (ii) above shall be distributed by wire transfer in immediately available funds for the account of, or by check mailed to, the initial Servicer or any successor Servicer, as specified by the Servicer.

  • Thereafter on the Closing Date, the Company will acquire the Certificates (other than the Class R Certificates) and the Class R-2 Residual Interest and the Variable Servicing Interest from the Trust as consideration for its transfer to the Trust of the REMIC I Regular Interests and will be the owner of the Certificates and the Variable Servicing Interest.

  • In connection therewith, as of the Closing Date, in exchange for the REMIC II Assets, the Trust does hereby issue the Variable Servicing Interest and the Trustee on behalf of the Trust shall cause to be authenticated and delivered, upon and pursuant to the order of the Company, the Certificates in Authorized Denominations.

  • With respect to the Variable Servicing Interest, the initial Servicer or any successor Servicer.

  • In connection therewith, as of the Closing Date, in exchange for the REMIC II Assets, the Trust does hereby issue to the Company the Variable Servicing Interest and the Trustee shall cause to be authenticated and delivered, upon and pursuant to the order of the Company, the Certificates in Authorized Denominations.

  • Thereafter on the Closing Date, the Company will acquire the Certificates (other than the Class R Certificates), the Class R-2 Residual Interest and the Variable Servicing Interest from the Trust as consideration for its transfer to the Trust of the REMIC I Regular Interests and will be the owner of the Certificates and the Variable Servicing Interest.

  • Thereafter on the Closing Date, the Company will acquire the Certificates (other than the Class R Certificates), the Class R-2 Residual Interest and the Variable Servicing Interest from REMIC II as consideration for its transfer to REMIC II of the REMIC I Regular Interests and will be the owner of the Certificates, the Class R-2 Residual Interest and the Variable Servicing Interest.

  • The Trustee hereby acknowledges and accepts on behalf of the Trust the assignment to the Trust of the REMIC III Assets and declares that as of the Closing Date it holds and shall hold any documents constituting a part of the REMIC III Assets, and the REMIC III Assets, as Trustee in trust, upon the trust herein set forth, for the use and benefit of all present and future Holders of the Certificates (other than the Class R Certificates), the Class R-3 Residual Interest and the Variable Servicing Interest.

  • All covenants and agreements made by the Company and the Trustee herein with respect to the REMIC I Regular Interests are for the benefit of the Holders from time to time of the Certificates (other than the portion of the Class R Certificates representing ownership of the Class R-1 Residual Interest) and the Variable Servicing Interest.