Middle REMIC Sample Clauses

Middle REMIC. The Middle REMIC Regular Interests, each of which is hereby designated a REMIC regular interest for federal income tax purposes, shall have the following principal balances and pass-through rates in the manner set forth in the following table: Middle REMIC Interests Initial Balance Pass- Through Rate Corresponding Class in the Master REMIC MT-1-A-1 (3) 6.000% 0-X-0 XX-0-X-0 (3) 6.000% 0-X-0 XX-0-X-0 (3) 6.000% 0-X-0 XX-0-X-0 (3) 6.000% 0-X-0 XX-0-X-0 (3) 6.000% 0-X-0 XX-0-X-0 (4) 7.500% 0-X-0, 0-X-0 XX-0-X-0 (5) 7.500% 0-X-0, 0-X-0 XX-XX (3) 0.000% PO MT-A-X (1) (1) A-X MT-A-UR (3) 6.000% A-UR MT-B-1 (3) (2) B-1 MT-B-2 (3) (2) B-2 MT-B-3 (3) (2) B-2 MT-B-4 (3) (2) B-4 MT-B-5 (3) (2) B-5 MT-B-6 (3) (2) B-6 _______________
Sample 1Sample 2Sample 3See All (16)
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Middle REMIC. The following table sets forth the designations, principal balances and interest rates for each interest in the Middle REMIC, each of which (other than the Class MT-R interest) is hereby designated as a regular interest in the Middle REMIC (the “Middle REMIC Regular Interests”): Middle REMIC Interest Class Designation Middle REMIC Interest Rate Initial Class Principal Amount Corresponding Class of Certificate(s) Class MT-A (1) (5) A Class MT-M1 (1) (5) M-1 Class MT-M2 (1) (5) M-2 Class MT-M3 (1) (5) M-3 Class MT-M4 (1) (5) M-4 Class MT-M5 (1) (5) M-5 Class MT-M6 (1) (5) M-6 Class MT-M7 (1) (5) M-7 Class MT-M8 (1) (5) M-8 Class MT-Q (1) (2) N/A Class MT-IO (3) (3) N/A Class MT-R (4) (4) R ___________________________
Sample 1Sample 2Sample 3See All (8)
Middle REMIC. The Middle REMIC Regular Interests, each of which is hereby designated a REMIC regular interest for federal income tax purposes, shall have the following principal balances and pass-through rates in the manner set forth in the following table: Middle REMIC Interests Initial Balance Pass- Through Rate Corresponding Class in the Master REMIC MT-1-A-1 $50,000,000 4.500% 0-X-0 XX-0-X-0 $67,269,000 5.000% 0-X-0 XX-0-X-0 $10,000,000 5.000% 0-X-0 XX-0-X-0 $2,731,000 5.000% 0-X-0 XX-0-X-0 $75,500,000 5.500% 0-X-0 XX-0-X-0 $37,000,000 5.250% 0-X-0 XX-0-X-0 $3,700,000 8.000% 0-X-0 XX-0-X-0 $3,955,000 5.500% 0-X-0 XX-0-X-0 $5,100,000 5.500% 0-X-0 XX-0-X-0 $11,322,000 8.000% 0-X-0, 0-X-0 XX-0-X-0 $33,966,000 5.000% 0-X-0 XX-0-X-0 $6,153,000 5.750% 0-X-0 XX-0-X-0 $2,869,000 5.750% 0-X-0 XX-0-X-0 $6,200,000 5.750% 0-X-0 XX-0-X-0 $47,226,000 6.000% 6-A-1 MT-15-PO $2,079,880 0.000% 15-PO MT-30-PO $783,616 0.000% 30-PO MT-15-A-X (1) 5.000% 15-A-X MT-30-A-X (2) 5.750% 30-A-X MT-A-UR $50 4.500% A-UR MT-B-1 $4,878,000 (3) B-1 MT-B-2 $1,689,000 (3) B-2 MT-B-3 $938,000 (3) B-3 MT-B-4 $750,000 (3) B-4 MT-B-5 $751,000 (3) B-5 MT-B-6 $375,563 (3) B-6 _______________
Sample 1See All (5)
Middle REMIC. The following table sets forth the designations, principal balances and interest rates for each interest in the Middle REMIC, each of which (other than the Class MT-R interest) is hereby designated as a regular interest in the Middle REMIC (the “Middle REMIC Regular Interests”): Designation Interest Rate Initial Principal Amount Corresponding Class of Certificates MT-Group 1 (1) (7) N/A MT-SC1 (1) (6) N/A MT-Group 2 (2) (9) N/A MT-SC2 (2) (8) N/A MT-Group 3 (3) (11) X/X XX-XX0 (3) (10) N/A MT-Group 4 (4) (13) X/X XX-XX0 (4) (12) N/A MT-1A1 (5) (14) 1-A-1 MT-1A2 (5) (14) 1-A-2 MT-1A3 (5) (14) 1-A-3 MT-2A1 (5) (14) 2-A-1 MT-3A1 (5) (14) 3-A-1 MT-3A2 (5) (14) 3-A-2 MT-3A3 (5) (14) 3-A-3 MT-4A1 (5) (14) 4-A-1 MT-4A2 (5) (14) 4-A-2 MT-4A3 (5) (14) 4-A-3 MT-M1 (5) (14) M1 MT-M2 (5) (14) M2 MT-M3 (5) (14) M3 MT-M4 (5) (14) M4 MT-M5 (5) (14) M5 MT-M6 (5) (14) M6 MT-M7 (5) (14) M7 MT-Q (5) (15) N/A MT-X (16) (16) N/A MT-XN (17) (17) N/A MT-R (18) (18) N/A
Sample 1Sample 2Sample 3
Middle REMIC. The following table sets forth (or describes) the class designation, interest rate, and initial principal amount for each class of Middle Tier Interests: Middle REMIC Middle Tier Class Designation Middle REMIC Middle Tier Interest Rate Initial Class Principal Amount Corresponding Class of Master REMIC Certificates MT-IA1 7.500% $ 164,303,847.00 I-A-1 MT-IR 7.500% $ 100.00 AR MT-IB1 7.500% $ 9,637,369.00 X-X-0 XX-XX0 7.500% $ 4,818,685.00 X-X-0 XX-XX0 7.500% $ 2,891,211.00 X-X-0 XX-XX0 7.500% $ 1,445,605.00 X-X-0 XX-XX0 7.500% $ 1,734,726.00 X-X-0 XX-XX0 7.500% $ 1,638,353.18 I-B-6 MT-IP 0.000% $ 6,277,485.24 I-P MT-AX 7.000% (1) A-X MT-IIA1 7.000% $ 61,500,000.00 XX-X-0 XX-XXX0 7.000% $ 147,164,525.00 XX-X-0 XX-XXX0 7.000% $ 5,800,000.00 XX-X-0 XX-XXX0 7.000% $ 7,639,538.00 XX-X-0 XX-XXX0 7.000% $ 4,113,597.00 XX-X-0 XX-XXX0 7.000% $ 2,350,627.00 XX-X-0 XX-XXX0 7.000% $ 940,250.00 XX-X-0 XX-XXX0 7.000% $ 1,292,844.00 XX-X-0 XX-XXX0 7.000% $ 1,292,847.79 II-B-6 MT-IIP 0.000% $ 2,968,489.16 II-P MT-R (2) (2)
Sample 1
Middle REMIC. The Middle REMIC Regular Interests, each of which is hereby designated a REMIC regular interest for federal income tax purposes, shall have the following initial principal balances, pass-through rates and Corresponding Classes of Certificates in the manner set forth in the following table: ------------------------------------------------------------------------------------------------------ Related Loan REMIC Initial Pass Through Group Interests Balance Rate Certificate ------------------------------------------------------------------------------------------------------ MT-I-A-1(1) 1/2 Corresponding Master Net WAC Cap Class I-A-1 REMIC Class balance ------------------------------------------------------------------------------------------------------ MT-I-A-2(1) 1/2 Corresponding Master Net WAC Cap Class I-A-2 REMIC Class balance ------------------------------------------------------------------------------------------------------ MT-I-A-3(1) 1/2 Corresponding Master Net WAC Cap Class I-A-3 REMIC Class balance -----------------------------------------------------------------------------------------------------
Sample 1
Middle REMIC. The Middle REMIC Regular Interests, each of which is hereby designated a REMIC regular interest for federal income tax purposes, shall have the following initial principal balances, pass-through rates and Corresponding Classes of Certificates in the manner set forth in the following table:
Sample 1
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Related to Middle REMIC

  • Upper Tier REMIC REMIC 4.

  • REMIC The Mortgage Loan is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but determined without regard to the rule in the U.S. Department of Treasury regulations (the “Treasury Regulations”) Section 1.860G-2(f)(2) that treats certain defective mortgage loans as qualified mortgages), and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and (B) either: (a) such Mortgage Loan is secured by an interest in real property (including permanently affixed buildings and distinct structural components, such as wiring, plumbing systems and central heating and air-conditioning systems, that are integrated into such buildings, serve such buildings in their passive functions and do not produce or contribute to the production of income other than consideration for the use or occupancy of space, but excluding personal property) having a fair market value (i) at the date the Mortgage Loan (or related Whole Loan) was originated at least equal to 80% of the adjusted issue price of the Mortgage Loan (or related Whole Loan) on such date or (ii) at the Closing Date at least equal to 80% of the adjusted issue price of the Mortgage Loan (or related Whole Loan) on such date, provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan; or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Section 1.860G-2(a)(1)(ii) of the Treasury Regulations). If the Mortgage Loan was “significantly modified” prior to the Closing Date so as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause (B)(a)(ii), including the proviso thereto. Any prepayment premium and yield maintenance charges applicable to the Mortgage Loan constitute “customary prepayment penalties” within the meaning of Section 1.860G-1(b)(2) of the Treasury Regulations. All terms used in this paragraph shall have the same meanings as set forth in the related Treasury Regulations.

  • REMIC I On each Distribution Date, except as provided in subsection (b) below,

  • REMIC III As provided herein, the Tax Administrator will elect to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC III”. The Class A-1, Class A-2, Class A-3, Class X-0, Xxxxx X-0, Class A-SB, Class A-S, Class B, Class C, Class D, Class E, Class F and Class G Certificates will evidence ownership of a class of “regular interests” in REMIC III and the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E and Class X-Y Certificates will evidence ownership of seven (7), three (3), one (1), one (1), one (1) and one (1) classes of “regular interests” in REMIC III, respectively, all as described herein. The Class R Certificates will evidence ownership of (among other things) the sole class of “residual interests” in REMIC III for purposes of the REMIC Provisions. The Latest Possible Maturity Date for each Class of Regular Certificates (other than the Interest Only Certificates) and the REMIC III Components is the date that is the Rated Final Distribution Date. Designations of the REMIC III Components The REMIC III Components of the Class X-A Certificates are hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-A Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”. The REMIC III Components of the Class X-B Certificates are hereby irrevocably assigned the alphanumeric designations under the column heading “REMIC III Component of Class X-B Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”. The REMIC III Component of the Class X-C Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-C Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”. The REMIC III Component of the Class X-D Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-D Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”. The REMIC III Component of the Class X-E Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-E Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”. The REMIC III Component of the Class X-Y Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-Y Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”. Corresponding REMIC II Regular Interests The following table irrevocably sets forth, with respect to each REMIC II Regular Interest (i) the Class of Certificates and (ii) the REMIC III Component of the Class X-A, Class X-B, Class X-C, Class X-D, Class X-E or Class X-Y Certificates, in each case for which such REMIC II Regular Interest constitutes a Corresponding REMIC II Regular Interest: REMIC II Regular Interest Class of Certificates REMIC III Component of Class X-A Certificates REMIC III Component of Class X-B Certificates REMIC III Component of Class X-C Certificates REMIC III Component of Class X-D Certificates REMIC III Component of Class X-E Certificates REMIC III Component of Class X-Y Certificates X-0 X-0 X-0-X-X X/X X/X X/X X/X N/A X-XX A-SB A-SB-X-A N/A N/A N/A N/A N/A B B N/A B-X-B N/A N/A N/A N/A C C N/A C-X-B N/A N/A N/A N/A D D N/A D-X-B N/A X/X X/X X/X X X X/X X/X E-X-C X/X X/X X/X X X X/X X/X X/X F-X-D N/A N/A G G N/A N/A N/A N/A G-X-E N/A X-Y X/X X/X X/X X/X X/X X/X X-Y-X-Y Each of (i) the Cut-off Date Pool Balance, (ii) the initial aggregate Uncertificated Principal Balance of the REMIC I Regular Interests, (iii) the initial aggregate Uncertificated Principal Balance of the REMIC II Regular Interests and (iv) the initial aggregate Class Principal Balance of the respective Classes of Regular Certificates (other than the Interest Only Certificates) will be $1,487,599,793. Class Designations of the Certificates. The following table irrevocably sets forth the Class Designation, Pass-Through Rate and initial Class Principal Balance for each Class of Certificates. Class Designation Pass-Through Rate Initial Class Principal Balance Class A-1 1.4790% per annum $ 57,333,000 Class A-2 2.9760% per annum $ 75,863,000 Class A-3 3.5280% per annum $ 59,936,000 Class A-4 3.4880% per annum $ 360,000,000 Class A-5 3.7520% per annum $ 386,043,000 Class A-SB 3.4640% per annum $ 102,144,000 Class X-A Variable(1) (2) Class X-B Variable(1) (3) Class X-C Variable(1) (4) Class X-D Variable(1) (5) Class X-E Variable(1) (6) Class X-Y Variable(1) (7) Class A-S Variable(1) $ 104,132,000 Class B Variable(1) $ 68,802,000 Class C Variable(1) $ 52,066,000 Class D Variable(1) $ 111,570,000 Class E 3.4550% per annum $ 31,611,000 Class F 3.4550% per annum $ 14,876,000 Class G 3.4550% per annum $ 63,223,793 Class R None None Class V None (8)

  • REMIC II On each Distribution Date, following the deemed distributions with respect to the REMIC II Regular Interests on such Distribution Date pursuant to Section 6.4, any Collateral Support Deficits with respect to the REMIC II Regular Interests on such Distribution Date will be allocated to the respective REMIC II Regular Interests as follows:

  • REMIC Election for REMIC I The Tax Matters Person, shall, on behalf of REMIC I, elect to treat REMIC I as a REMIC within the meaning of Section 860D of the Code and, if necessary, under applicable state laws. Such election shall be included in the Form 1066 and any appropriate state return to be filed on behalf of REMIC I for its first taxable year. The Closing Date is hereby designated as the “startup day” of REMIC I within the meaning of Section 860G(a)(9) of the Code. The regular interests (as set forth in the table contained in the Preliminary Statement hereto) relating to REMIC I are hereby designated as “regular interests” in REMIC I for purposes of Section 860G(a)(1) of the Code. The Class R-1 Residual Interest is hereby designated as the sole class of “residual interest” in REMIC I for purposes of Section 860G(a)(2) of the Code. The REMIC I Regular Interests and the Class R-1 Residual Interest shall together be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute. The parties intend that the affairs of REMIC I shall constitute, and that the affairs of REMIC I shall be conducted so as to qualify REMIC I as a REMIC. In furtherance of such intention, the Tax Matters Person shall, on behalf of REMIC I: (a) prepare and file, or cause to be prepared and filed, a federal tax return using a calendar year as the taxable year and using an accrual method of accounting for REMIC I when and as required by the REMIC Provisions and other applicable federal income tax laws; (b) make an election, on behalf of the trust, for REMIC I to be treated as a REMIC on the federal tax return of REMIC I for its first taxable year, in accordance with the REMIC Provisions; (c) prepare and forward, or cause to be prepared and forwarded, to the Holders of the REMIC I Regular Interests and the Class R-1 Residual Interest and the Trustee, all information reports as and when required to be provided to them in accordance with the REMIC Provisions, and make available the information necessary for the application of Section 860E(e) of the Code; (d) conduct the affairs of REMIC I at all times that any REMIC I Regular Interests are outstanding so as to maintain the status of REMIC I as a REMIC under the REMIC Provisions; (e) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of REMIC I; and (f) pay the amount of any federal prohibited transaction penalty taxes imposed on REMIC I when and as the same shall be due and payable (but such obligation shall not prevent the Company or any other appropriate person from contesting any such tax in appropriate proceedings and shall not prevent the Company from withholding payment of such tax, if permitted by law, pending the outcome of such proceedings); provided, that the Company shall be entitled to be indemnified by REMIC I for any such prohibited transaction penalty taxes if the Company’s failure to exercise reasonable care was not the primary cause of the imposition of such prohibited transaction penalty taxes. The Trustee and the Master Servicer shall promptly provide the Company with such information in the possession of the Trustee or the Master Servicer, respectively, as the Company may from time to time request for the purpose of enabling the Company to prepare tax returns. In the event that a Mortgage Loan is discovered to have a defect which, had such defect been discovered before the startup day, would have prevented such Mortgage Loan from being a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code, and the Company does not repurchase such Mortgage Loan within 90 days of such date, the Master Servicer, on behalf of the Trustee, shall within 90 days of the date such defect is discovered sell such Mortgage Loan at such price as the Master Servicer in its sole discretion, determines to be the greatest price that will result in the purchase thereof within 90 days of such date, unless the Master Servicer delivers to the Trustee an Opinion of Counsel to the effect that continuing to hold such Mortgage Loan will not adversely affect the status of the electing portion of REMIC I as a REMIC for federal income tax purposes.

  • Whole Loan; Ownership of Mortgage Loans Except with respect to a Mortgage Loan that is part of a Whole Loan, each Mortgage Loan is a whole loan and not a participation interest in a mortgage loan. At the time of the sale, transfer and assignment to the Depositor, no Mortgage Note or Mortgage was subject to any assignment (other than assignments to the Mortgage Loan Seller or (with respect to any Non-Serviced Mortgage Loan) to the related Non-Serviced Trustee for the related Non-Serviced Trust), participation (it being understood that a Mortgage Loan that is part of a Whole Loan does not constitute a participation) or pledge, and the Mortgage Loan Seller had good title to, and was the sole owner of, each Mortgage Loan free and clear of any and all liens, charges, pledges, encumbrances, participations (other than with respect to agreements among noteholders with respect to a Whole Loan), any other ownership interests and other interests on, in or to such Mortgage Loan other than any servicing rights appointment, subservicing or similar agreement. The Mortgage Loan Seller has full right and authority to sell, assign and transfer each Mortgage Loan, and the assignment to the Depositor constitutes a legal, valid and binding assignment of such Mortgage Loan free and clear of any and all liens, pledges, charges or security interests of any nature encumbering such Mortgage Loan.

  • Adverse REMIC Event Either (i) loss of status as a REMIC, within the meaning of Section 860D of the Code, for any group of assets identified as a REMIC in the Preliminary Statement to this Agreement, or (ii) imposition of any tax, including the tax imposed under Section 860F(a)(1) on prohibited transactions, and the tax imposed under Section 860G(d) on certain contributions to a REMIC, on any REMIC created hereunder to the extent such tax would be payable from assets held as part of the Trust Fund.

  • Ownership of Mortgage Loans Immediately prior to the transfer of the Mortgage Loans to the Purchaser, the Seller had good title to, and was the sole owner of, each Mortgage Loan. The Seller has full right, power and authority to transfer and assign each Mortgage Loan to or at the direction of the Purchaser free and clear of any and all pledges, liens, charges, security interests, participation interests and/or other interests and encumbrances (except for certain servicing rights as provided in the Pooling and Servicing Agreement, any permitted subservicing agreements and servicing rights purchase agreements pertaining thereto). The Seller has validly and effectively conveyed to the Purchaser all legal and beneficial interest in and to each Mortgage Loan free and clear of any pledge, lien, charge, security interest or other encumbrance (except for certain servicing rights as provided in the Pooling and Servicing Agreement, any permitted subservicing agreements and servicing rights purchase agreements pertaining thereto); provided that recording and/or filing of various transfer documents are to be completed after the Closing Date as contemplated hereby and by the Pooling and Servicing Agreement. The sale of the Mortgage Loans to the Purchaser or its designee does not require the Seller to obtain any governmental or regulatory approval or consent that has not been obtained. Each Mortgage Note is, or shall be as of the Closing Date, properly endorsed to the Purchaser or its designee and each such endorsement is, or shall be as of the Closing Date, genuine.

  • SPECIAL REMARKS There are no adjustments in the fiscal year 2018-19 Cost Allocation Plan. SECTION IV: ACCEPTANCE COUNTY OF MENDOCINO BY Original signed by Xxxxx Xxxx Name Auditor-Controller Title 5-29-2018 Date XXXXX X. XXX CALIFORNIA STATE CONTROLLER BY Original signed by Xxx Xxxxxxxxx, Manager Local Government Policy Section Local Govt Programs & Services Division 6-5-2018 Date Negotiated by Ou Xxxxxx Telephone (000) 000-0000

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