PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Merrill Lynch Commercial Mortgage Inc.)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), as a real estate mortgage investment conduit (the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account"REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC Regular I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class I-A-6 Certificates, Class I-A-7 Certificates, Class I-A-8 Certificates, Class I-A-9 Certificates, Class II-A Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC I Regular Interests Z. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. Aggregate Initial Certificate Moody's/ Pass-Through Principal Maturity Minimum Designation Rate Balance Features(1) Date S&P Denominations(2) Class I-A-1 Adjustable $91,448,000.00 Senior/TAC/Accretion January 2036 Aaa/AAA $100,000.00 Rate Directed/Floater/Adjustable Rate Class I-A-2 Adjustable $11,928,000.00 Senior/TAC/Accretion January 2036 Aaa/AAA $100,000.00 Rate Directed/Inverse Floater/Adjustable Rate Class I-A-3 5.75% $23,645,000.00 Super Senior/Lockout/Fixed Rate January 2036 Aaa/AAA $100,000.00 Class I-A-4 5.75% $2,627,000.00 Senior Support/Lockout/Fixed Rate January 2036 Aaa/AAA $100,000.00 Class I-A-5 5.25% $101,177,000.00 Senior/PAC/Accretion January 2036 Aaa/AAA $100,000.00 Directed/Fixed Rate Class I-A-6 5.75% $11,725,000.00 Senior/PAC/Accretion January 2036 Aaa/AAA $100,000.00 Directed/Fixed Rate Class I-A-7 5.75% $5,040,000.00 Senior/Companion/Accrual/Accretion January 2036 Aaa/AAA $100,000.00 Directed/Fixed Rate Class I-A-8 5.75% $3,035,000.00 Senior/Accrual/Fixed Rate January 2036 Aaa/AAA $100,000.00 Class I-A-9 5.75% Notional Senior/Interest Only/PAC/Fixed January 2036 Aaa/AAA $1,000,000.00 Rate Class II-A 5.75% $100,219,000.00 Senior/Fixed Rate January 2036 Aaa/AAA $100,000.00 Class A-FL Certificates, “Corresponding Certificates” shall mean the P 0.00% $2,294,731.97 Senior/Principal Only January 2036 Aaa/AAA $100,000.00 Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC V Variable Notional Senior/Interest Only/Variable January 2036 Aaa/AAA $2,000,000.00 Rate(3) Rate Class R-I Regular Interests(15.75% $100.00 Senior/Residual/Fixed Rate January 2036 Aaa/AAA (4) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] R-II 5.75% $100.00 Senior/Residual/Fixed Rate January 2036 Aaa/AAA (4) Class M-1 5.75% $6,240,600.00 Mezzanine/Fixed Rate January 2036 NA/AA $100,000.00 Class M-2 5.75% $2,936,800.00 Mezzanine/Fixed Rate January 2036 NA/A LA $[_________] XA 250,000.00 Class M-3 5.75% $1,468,400.00 Mezzanine/Fixed Rate January 2036 NA/BBB $250,000.00 Class B-1 5.75% $1,468,400.00 Subordinate/Fixed Rate January 2036 NA/BB $250,000.00 Class B-2 5.75% $1,101,300.00 Subordinate/Fixed Rate January 2036 NA/B LB $[_________] XB 250,000.00 Class C LC B-3 5.75% $[_________] XC Class A-FL Regular Interest LA-FL(2) 734,847.13 Subordinate/Fixed Rate January 2036 NA/NA $[_________] XA-FL250,000.00 --------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006-S1 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Class A Certificates (other than the Class 1-A-R, Class 1-A-LR and Class A-PO Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-A-PO Component, Class 2-A-PO Component, Class 3-A-PO Component, Class 1-SES Component, Class 2-SES Component and Class 3-SES Component (collectively, the Trustee will elect to treat "Components") shall also constitute "regular interests" in the segregated pool of assets consisting of Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, may be issued in the case any amount in excess of the minimum denomination): ======================== ========================= ================ ==================== ==================== Initial Class Integral Multiples Certificate Balance or Pass-Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-1 $80,000,000.00 5.250% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-2 $3,636,363.00 5.500% $1,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-3 $57,346,454.00 5.500% $1,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-4 $24,000,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-5 $21,482,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-6 $18,781,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-7 $8,740,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-8 $13,317,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-9 $600,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-10 $35,678,570.00 (1) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-11 $5,464,286.00 (2) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-12 $7,000,000.00 (3) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-13 $2,950,000.00 5.000% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-14 $6,300,000.00 5.750% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-15 $27,000,000.00 5.000% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-16 $22,500,000.00 6.000% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-17 $9,000,000.00 5.000% $1,000 $1,000 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-18 $13,500,000.00 6.000% $1,000 $1,000 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-19 $400,000.00 5.250% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-20 $5,133,333.00 (4) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-21 $1,695,556.00 (5) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-22 $171,111.00 (6) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-23 $2,000,000.00 5.500% $1,000 $1,000 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-24 $1,571,429.00 (7) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-25 $785,715.00 (8) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-26 $39,600,000.00 (9) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-27 $13,080,000.00 (10) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-28 $1,320,000.00 (11) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-29 $4,400,000.00 (12) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-30 $1,600,000.00 (13) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-31 $66,065,000.00 4.000% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-32 $125,000,000.00 4.250% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-33 $100,000,000.00 4.250% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-34 $22,727,272.00 5.500% $1,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-35 $43,607,000.00 4.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-36 $32,902,000.00 5.000% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-37 $8,000,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-38 $35,339,000.00 5.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-39 $2,470,000.00 5.500% $1,000 $1 ======================== ========================= ================ ==================== ==================== ======================== ========================= ================ ==================== ==================== Initial Class Integral Multiples Certificate Balance or Pass-Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-R $50.00 5.500% $50 N/A ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-LR $50.00 5.500% $50 N/A ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-A-WIO 670,291,914.00 (14) $10,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-1 $50,000,000.00 5.000% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-2 $112,751,308.00 (15) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-3 $110,742,500.00 (16) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-4 $18,457,076.00 (17) $1,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-5 $10,000,000.00 (18) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-6 $45,000,000.00 (15) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-7 $42,942,614.00 (15) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-8 $543,578.00 (15) $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-A-WIO $328,327,730.00 (19) $10,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-A-1 $82,027,000.00 7.500% $1,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-A-WIO $69,198,445.00 (20) $10,000,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-B-1 $10,032,000.00 5.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-B-2 $4,012,000.00 5.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-B-3 $2,809,000.00 5.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-B-4 $803,000.00 5.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-B-5 $1,203,000.00 5.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 1-B-6 $1,204,769.00 5.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-B-1 $2,070,000.00 5.000% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-B-2 $565,000.00 5.000% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-B-3 $753,000.00 5.000% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-B-4 $376,000.00 5.000% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-B-5 $189,000.00 5.000% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 2-B-6 $376,492.00 5.000% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-B-1 $1,188,000.00 7.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-B-2 $425,000.00 7.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-B-3 $297,000.00 7.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-B-4 $170,000.00 7.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-B-5 $127,000.00 7.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class 3-B-6 $170,281.00 7.500% $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1PO (21) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2(21) $[_________] XA25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- Class SES (22) (22) $25,000 $1 ------------------------ ------------------------- ---------------- -------------------- -------------------- ======================== ========================= ================ ==================== ==================== Initial Component Integral Multiples Balance or Component Pass-FLThrough Minimum In Excess Components Notional Amount Rate Denomination Of Minimum ------------------------ ------------------------- ---------------- -------------------- --------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Pass THR Certs Ser 2003-5)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund (exclusive of that is hereby conveyed to the Class A-FL Regular InterestTrustee in return for the Certificates. The Trust Fund, other than the Class A-FL Swap Contract, the Class A-FL Floating Rate Supplemental Loan Account and Capitalized Interest Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund other than the Supplemental Loan Account and the Capitalized Interest Account and will be evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR-SR Interest as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)the single "residual interest" in the Subsidiary REMIC. As provided herein, the The Trustee will elect to treat hold the segregated pool of assets consisting Subsidiary REMIC Interests other than the SR-SR Interest. The Master REMIC will consist of the Mortgage Loans Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates (exclusive of Excess Interestwhich will represent the "regular interests" in the Master REMIC) and certain other related assets subject to this Agreement shall be treated the MR-R Interest as a REMIC the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR-SR Interest and the MR-R Interest. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all Regular Interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsLatest Possible Maturity Date. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components characteristics of the Class X Certificates] for , together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the REMIC II Regular Certificates Tax Matters Person Certificate may be issued in a different amount): ========================= ======================== ===================== ====================== ====================== Initial Class Pass-Through Integral Multiples Class Designation Certificate Balance Rate Minimum Denomination in Excess of Minimum ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-1 $54,206,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-2 $120,890,000.00 6.00% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-3 $1,800,000.00 6.25% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-4 $1,200,000.00 7.50% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-5 $5,000,000.00 6.75% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-6 $4,000,000.00 6.75% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-7 $1,500,000.00 6.50% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-8 $1,500,000.00 7.00% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-9 $51,810,000.00 (the “Corresponding Certificates”4) $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-10 (1) (for the avoidance of doubt, in the case of the 5) $25,000.00(2) $1,000.00(2) ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-11 $13,879,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-12 $30,000,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class PO $1,464,024.00 (3) $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the R $100.00 6.75% $100.00 N/A ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of M $6,000,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class X Certificates(1)] B-1 $2,550,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A LA B-2 $[_________] XA 1,800,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class B LB B-3 $[_________] XB 900,000.00 6.75% $100,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class C LC B-4 $[_________] XC 750,000.00 6.75% $100,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Regular Interest LA-FL(2) B-5 $[_________] XA-FL750,875.04 6.75% $100,000.00 $1,000.00 ========================= ======================== ===================== ====================== ======================
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Senior Certificates (other than the Class CB-IO, Class X-PO, Class 1-A-R and Class 1-A-LR Certificates) are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-X-PO Component, Class 1-IO Component, Class 2-X-PO Component, Class 2-IO Component, Class 3-X-PO Component and Class 4-X-PO Component (collectively, the Trustee will elect to treat "Components") shall also constitute "regular interests" in the segregated pool of assets consisting of Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the REMIC II Regular Certificates minimum denomination): Initial Class Integral Certificate Pass- Multiples Balance or Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ------------------ ---------------- ---------- ------------- -------------- Class 1-A-1 $165,409,000.00 6.000% $1,000 $1 Class 1-A-R $50.00 6.000% $50 N/A Class 1-A-LR $50.00 6.000% $50 N/A Class 2-A-1 $93,876,000.00 6.000% $1,000 $1 Class CB-IO (the “Corresponding Certificates”1) 6.000% $1,000,000 $1 Class 3-A-1 $3,786,000.00 6.000% $1,000 $1 Class 3-A-2 $28,301,000.00 6.000% $1,000 $1 Class 3-A-3 $2,318,000.00 6.000% $1,000 $1 Class 3-IO $212,207.00 6.000% $212,207 N/A Class 4-A-1 $115,510,000.00 5.000% $1,000 $1 Class 4-IO $4,121,479.00 5.000% $1,000,000 $1 Class X-PO (2) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(22) $[_________] XA25,000 $1 Class 15-FLPO $3,012,942.00 (3) $25,000 $1 Class 30-B-1 $5,984,000.00 6.000% $25,000 $1 Class 30-B-2 $2,911,000.00 6.000% $25,000 $1 Class 30-B-3 $1,617,000.00 6.000% $25,000 $1 Class 30-B-4 $1,617,000.00 6.000% $25,000 $1 Class 30-B-5 $1,132,000.00 6.000% $25,000 $1 Class 30-B-6 $1,293,698.00 6.000% $25,000 $1 Class 4-B-1 $1,576,000.00 5.000% $25,000 $1 Class 4-B-2 $242,000.00 5.000% $25,000 $1 Class 4-B-3 $364,000.00 5.000% $25,000 $1 Class 4-B-4 $182,000.00 5.000% $25,000 $1 Class 4-B-5 $121,000.00 5.000% $25,000 $1 Class 4-B-6 $182,087.00 5.000% $25,000 $1 Initial Integral Component Pass- Multiples Balance or Through Minimum In Excess Components Notional Amount Rate Denomination Of Minimum ---------- ---------------- ------- ------------ ---------- Class 1-X-PO $9,322,978.00 (4) N/A N/A Class 2-X-PO $4,085,577.00 (4) N/A N/A Class 3-X-PO $1,752,723.00 (4) N/A N/A Class 4-X-PO $10,000.00 (4) N/A N/A Class 1-IO $621,508.00 6.000% N/A N/A Class 2-IO $396,893.00 6.000% N/A N/A
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Uncertificated REMIC I Regular Interests(1Pass- Initial Uncertificated Latest Designation Through Rate Principal Balance Possible Maturity(1) ----------- ------------ ------------------------ -------------------- Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA 6.75% $[102,850,000.00 July 25, 2031 Regular Interest R Uncertificated REMIC I 6.75% $79,850,000.00 July 25, 2031 Regular Interest S Uncertificated REMIC I 6.75% $541,087,674.97 July 25, 2031 Regular Interest T Uncertificated REMIC I 0% $1,084,183.00 July 25, 2031 Regular Interest V Uncertificated REMIC I Variable (2) N/A(3) July 25, 2031 IO Regular Interests _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class III-A Certificates, Class IV-A Certificates, Class V-A Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates, will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of this Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. INITIAL UNCERTIFICATED UNCERTIFICATED REMIC --------------------- LATEST DESIGNATION I PASS-THROUGH RATE PRINCIPAL BALANCE POSSIBLE MATURITY(1) Uncertificated REMIC I Regular Interest I-A Variable (the “Corresponding 2) $ 110.14 April 27, 2037 Uncertificated REMIC I Regular Interest”Interest I-B Variable (2) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt$ 2,294.44 April 27, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2037 Uncertificated REMIC I Regular Interests(1Interest II-A Variable (2) $ 1,112.24 April 27, 2037 Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LAII-FL(2B Variable (2) $ 23,170.58 April 27, 2037 Uncertificated REMIC I Regular Interest III-A Variable (2) $ 160.27 April 27, 2037 Uncertificated REMIC I Regular Interest III-B Variable (2) $ 3,338.87 April 27, 2037 Uncertificated REMIC I Regular Interest IV-A Variable (2) $ 326.63 April 27, 2037 Uncertificated REMIC I Regular Interest IV-B Variable (2) $ 6,802.23 April 27, 2037 Uncertificated REMIC I Regular Interest V-A Variable (2) $ 139.33 April 27, 2037 Uncertificated REMIC I Regular Interest V-B Variable (2) $ 2,902.23 April 27, 2037 Uncertificated REMIC I Regular Interest ZZZ Variable (2) $[_________] XA385,041,886.04 April 27, 2037 Uncertificated REMIC I Regular Interest R-FLII Variable (2) $ 50.00 April 27, 2037
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2007-Sa2 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Class A Certificates (other than the Class A-19, Class A-R and Class A-LR Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class A-19 PAC IO Component, the Trustee will elect to treat Class A-19 PAC I Component, the segregated pool of assets consisting of Class A-19 TAC IO Component and the Mortgage Loans Class A-19 TAC Component (exclusive of Excess Interestcollectively, the "Components") and certain other related assets subject to this Agreement shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class A-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, may be issued in the case any amount in excess of the minimum denomination): =================================================================================================== Integral Initial Class Pass- Multiples Certificate Balance or Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum --------------------------------------------------------------------------------------------------- Class A-1 $ 59,653,000.00 7.125% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-2 $ 21,960,000.00 7.125% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-3 $ 11,000,000.00 7.125% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-4 $ 113,007,000.00 7.125% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-5 $ 1,800,000.00 8.000% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-6 $ 12,100,000.00 8.000% $1,000 $1,000 --------------------------------------------------------------------------------------------------- Class A-7 $ 8,200,000.00 8.000% $1,000 $1,000 --------------------------------------------------------------------------------------------------- Class A-8 $ 8,265,000.00 8.000% $1,000 $1,000 --------------------------------------------------------------------------------------------------- Class A-9 $ 13,892,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-10 $ 6,288,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-11 $ 4,944,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-12 $ 2,360,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-13 $ 6,476,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-14 $ 9,662,000.00 7.500% $1,000 $1,000 --------------------------------------------------------------------------------------------------- Class A-15 $ 4,378,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-16 $ 15,900,000.00 8.000% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-17 $ 3,735,000.00 8.000% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-18 $ 2,000,000.00 7.500% $1,000 $1,000 --------------------------------------------------------------------------------------------------- Class A-19 $ 61,997,250.00 (1) $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-20 $ 10,011,000.00 7.750% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-21 $ 116,788,000.00 7.500% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-22 $ 8,319,085.00 7.750% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-23 $ 3,810,750.00 7.125% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-24 $ 1,025,000.00 7.750% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-25 $ 75,018,000.00 7.125% $1,000 $1 --------------------------------------------------------------------------------------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the PO $ 1,747,362.00 (2) $25,000 $1 --------------------------------------------------------------------------------------------------- Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class R $ 50.00 7.750% $50 N/A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC --------------------------------------------------------------------------------------------------- Class A-FL Regular Interest LA-FL(2) LR $ 50.00 7.750% $[_________] XA-FL50 N/A --------------------------------------------------------------------------------------------------- Class B-1 $ 12,901,000.00 7.750% $25,000 $1 --------------------------------------------------------------------------------------------------- Class B-2 $ 4,501,000.00 7.750% $25,000 $1 --------------------------------------------------------------------------------------------------- Class B-3 $ 2,701,000.00 7.750% $25,000 $1 --------------------------------------------------------------------------------------------------- Class B-4 $ 1,501,000.00 7.750% $25,000 $1 --------------------------------------------------------------------------------------------------- Class B-5 $ 1,201,000.00 7.750% $25,000 $1 --------------------------------------------------------------------------------------------------- Class B-6 $ 1,200,149.53 7.750% $25,000 $1 --------------------------------------------------------------------------------------------------- Components Initial Component Component Balance or Notional Rate Amount --------------------------------------------------------------------------------------------------- Class A-19 PAC IO $ 15,181,156.93 7.750% N/A N/A --------------------------------------------------------------------------------------------------- Class A-19 PAC I $ 6,954,250.00 7.125% N/A N/A --------------------------------------------------------------------------------------------------- Class A-19 TAC IO $ 3,767,354.84 7.750% N/A N/A --------------------------------------------------------------------------------------------------- Class A-19 TAC $ 55,043,000.00 7.750% N/A N/A =================================================================================================== ---------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2000-7)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be issued hereunder in multiple Classestreated as two real estate mortgage investment conduits (the "Upper-Tier REMIC" and the "Lower-Tier REMIC," respectively, which and each a "REMIC"). The Class A Certificates (other than the Class A-PO, Class 1-A-R and Class 1-A-LR Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the aggregate Upper-Tier REMIC. The Class 1-A-PO and Class 2-A-PO Components (collectively, the "Components") shall also constitute "regular interests" in the Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will evidence represent the entire beneficial ownership interest in the Trust to be created hereunderTrust. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated The "latest possible maturity date" for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, may be issued in the case any amount in excess of the minimum denomination, but less than the integral multiple in excess of the minimum): ================= =================== ========== ============= ============ Initial Class Integral Certificate Pass- Multiples Balance or Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum ----------------- ------------------- ---------- ------------- ------------ Class 1-A-1 $138,606,000.00 6.50% $1,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class 1-A-R $50.00 6.50% $50 N/A ----------------- ------------------- ---------- ------------- ------------ Class 1-A-LR $50.00 6.50% $50 N/A ----------------- ------------------- ---------- ------------- ------------ Class 1-A-WIO $100,724,947.00 (1) $10,000,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class 2-A-1 $52,525,000.00 6.00% $1,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class 2-A-WIO $39,637,086.00 (2) $10,000,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class A-FL Certificates, “Corresponding Certificates” shall mean the PO (3) (3) $25,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class B-1 $2,582,000.00 (4) $25,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class B-2 $1,390,000.00 (4) $25,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class B-3 $894,000.00 (4) $25,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class B-4 $297,000.00 (4) $25,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class B-5 $199,000.00 (4) $25,000 $1 ----------------- ------------------- ---------- ------------- ------------ Class B-6 $496,814.00 (4) $25,000 $1 ================= =================== ========== ============= ============ Integral Components Initial Pass- Multiples Component Through Minimum In Excess Balance Rate Denomination Of Minimum ----------------- ------------------- ---------- ------------- ------------ Class 1-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1PO $1,127,280.00 (5) REMIC I Principal Balance [Corresponding Components of N/A N/A ----------------- ------------------- ---------- ------------- ------------ Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class 2-A-FL Regular Interest LA-FL(2PO $443,395.00 (5) $[_________] XA-FLN/A N/A ----------------- ------------------- ---------- ------------- ------------ ---------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of American Funding Corp Mort Pass Thru Cert Ser 2003-2)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular InterestMortgage Loans but excluding the Yield Maintenance Agreements and any payments thereunder, the Class A-FL Swap Contractrelated Reserve Fund and any payments therefrom, the Class A-FL Floating Rate Account, Excess Interest Initial Monthly Payment Fund and the Excess Interest Distribution Account) be treated for federal income tax purposes Grantor Trust, the Grantor Trust Account and any assets held therein), as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)each a "REMIC") for federal income tax purposes. As provided herein, the Trustee will elect to treat the A segregated pool of assets consisting of the Mortgage Group I Loans, the Group II Loans (exclusive of Excess Interest) and certain other the related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool described in the definition of Trust Fund (other than the Initial Monthly Payment Fund) will be designated as “"REMIC I”," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Uncertificated REMIC Regular I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A-7, Class I-A-8, Class I-A-10, Class I-A-11, Class I-A-15, Class I-A-18, Class I-A-V, Class I-A-P, Class II-A-3, Class II-A-6, Class II-A-11, Class II-A-15, Class II-A-V, Class II-A-P, Class I-M-1 Certificates, Class I-M-2 Certificates, Class I-M-3 Certificates, Class II-M-1 Certificates, Class II-M-2 Certificates, Class II-M-3 Certificates, Class I-B-1 Certificates, Class I-B-2 Certificates, Class I-B-3 Certificates, Class II-B-1 Certificates, Class II-B-2 Certificates, Class II-B-3 Certificates, the Grantor Trust Uncertificated REMIC II Regular Interests and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class I-A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC II Regular Interests Z1 and the Class II-A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC II Regular Interests Z2. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. Aggregate Initial Pass-Through Certificate Maturity Minimum Designation Rate Principal Balance Features(1) Date Moody/S&P/Fitch Denominati▇▇▇(▇) Class I-A-1 6.00% $115,824,000 Senior/PAC/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-2 6.00% $100,170,000 Senior/PAC/Exchangeable/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-3 6.00% $70,000,000 Senior/PAC/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Super Senior/Lockout/ Class I-A-4 6.00% $69,738,000 Exchangeable/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-5 6.00% $22,000,000 Senior/PAC/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-6(3) Variable $67,500,000 Floater/Accretion Directed/ June 2037 $100,000.00 Exchangeable/Adjustable Rate NA/AAA/AAA Class I-A-7 6.00% Senior/Accrual/Accretion June 2037 $1000.00 $1,000 Directed/Companion/Fixed Rate NA/AAA/AAA Class I-A-8 6.00% Senior/Accrual/ June 2037 $1000.00 $1,000 Companion/Fixed Rate NA/AAA/AAA Class I-A-9 6.00% $15,654,000 Senior/PAC/Exchangeable/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-10 6.00% $43,184,000 Senior/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-11 6.00% $59,285,000 Senior/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-12 6.00% $23,824,000 Senior/PAC/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-13 Variable Notional Senior/Inverse Floater/Interest June 2037 $1,000,000.00 Only/Exchangeable/Adjustable Rate Aaa/AAA/AAA Class I-A-14 6.00% $72,456,000 Senior/Lockout/ June 2037 $100,000.00 Exchanged/Fixed Rate Aaa/AAA/AAA Class I-A-15 6.00% $14,555,000 Senior/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-16 6.00% $96,413,000 Super Senior/PAC/ June 2037 $100,000.00 Exchanged/Fixed Rate NA/AAA/AAA Class I-A-17(4) Variable Super Senior/TAC/Floater/ June 2037 $100,000.00 $67,500,000 Exchanged/Adjustable Rate Aaa/AAA/AAA Class I-A-18 6.00% $2,631,000 Senior Support/Lockout/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-19 6.00% Senior Support/Lockout/ June 2037 Aaa/AAA/AAA $100,000.00 $2,718,000 Exchangeable/Fixed Rate Class I-A-20 6.00% Senior Support/PAC/ June 2037 NA/AAA/AAA $100,000.00 $3,757,000 Exchanged/Fixed Rate Class II-A-1 6.00% $60,000,000 Senior/Exchangeable/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-2 6.00% Senior/Lockout/ June 2037 $100,000.00 $52,190,000 Exchanged/Fixed Rate Aaa/AAA/AAA Class II-A-3 6.00% $11,225,000 Senior/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-4 6.00% Super Senior/Lockout/ June 2037 Aaa/AAA/AAA $100,000.00 $50,233,000 Exchangeable/Fixed Rate Class II-A-5(5) Variable Super Senior/Floater/ June 2037 $100,000.00 $95,000,000 Exchangeable/Adjustable Rate Aaa/AAA/AAA Class II-A-6 6.00% $38,889,000 Senior/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-7 Variable Senior/Inverse Floater/Interest June 2037 $1,000,000.00 Notional Only/Exchangeable/Adjustable Rate Aaa/AAA/AAA Class II-A-8 6.00% $44,211,000 Senior/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-9 6.00% $15,789,000 Senior/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-10(6) Variable Senior/Floater/ June 2037 $100,000.00 $95,000,000 Exchanged/Adjustable Rate Aaa/AAA/AAA Class II-A-11 6.00% $35,000,000 Senior/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-12 6.00% $57,750,000 Super Senior/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-13 6.00% $2,250,000 Senior Support/Exchanged/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class II-A-14 6.00% $1,957,000 Senior Support/Lockout/ June 2037 NA/AAA/AAA $100,000.00 Exchangeable/Fixed Rate Class II-A-15 6.00% $7,838,000 Senior Support/Lockout/Fixed Rate June 2037 NA/AAA/AAA $100,000.00 Class I-A-FL Certificates, “Corresponding Certificates” shall mean the P 0.00% $2,885,993 Senior/Principal Only June 2037 NA/AAA/AAA $1,000,00.00 Class I-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of V Variable Senior/Interest Only/Variable Rate June 2037 $2,000,000.00 Rate Notional NA/AAA/AAA Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class II-A-FL Regular P 0.00% $2,684,791 Senior/Principal Only June 2037 NA/AAA/AAA $100,000.00 Class II-A-V Variable Senior/Interest LAOnly/Variable Rate June 2037 $2,000,000.00 Rate Notional NA/AAA/AAA Class R-FL(2I 6.00% $100 Senior/Residual/Fixed Rate June 2037 NA/AAA/AAA (7) Class R-II 6.00% $[_________] XA100 Senior/Residual/Fixed Rate June 2037 NA/AAA/AAA (9) Class I-FLM-1 6.00% $6,879,000 Mezzanine/Fixed Rate June 2037 NA/NA/AA $100,000.00 Class I-M-2 6.00% $2,948,000 Mezzanine/Fixed Rate June 2037 NA/NA/A $250,000.00 Class I-M-3 6.00% $1,769,000 Mezzanine/Fixed Rate June 2037 NA/NA/BBB $250,000.00 Class II-M-1 6.00% $5,506,000 Mezzanine/Fixed Rate June 2037 NA/NA/AA $100,000.00 Class II-M-2 6.00% $2,360,000 Mezzanine/Fixed Rate June 2037 NA/NA/A $250,000.00 Class II-M-3 6.00% $1,416,000 Mezzanine/Fixed Rate June 2037 NA/NA/BBB $250,000.00 Class I-B-1 6.00% $1,179,000 Subordinate/Fixed Rate June 2037 NA/NA/BB $250,000.00 Class I-B-2 6.00% $983,000 Subordinate/Fixed Rate June 2037 NA/NA/B $250,000.00 Class I-B-3 6.00% $982,759 Subordinate/Fixed Rate June 2037 NA/NA/NA $250,000.00 Class II-B-1 6.00% $944,000 Subordinate/Fixed Rate June 2037 NA/NA/BB $250,000.00 Class II-B-2 6.00% $787,000 Subordinate/Fixed Rate June 2037 NA/B $250,000.00 Class II-B-3 6.00% $787,003 Subordinate/Fixed Rate June 2037 NA/NA/NA $250,000.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2007-S6 Trust)
PRELIMINARY STATEMENT. The Depositor intends is the owner of the Trust Fund that is hereby conveyed to sell the Trustee in return for the Certificates. The Trust Fund (exclusive of any entitlement to Assigned Prepayment Premiums, to be issued hereunder in multiple Classes, which the Group 5 Interest Rate Cap Agreement and assets held in the aggregate will evidence the entire beneficial ownership interest in the Trust Group 5 Interest Rate Cap Account) for federal income tax purposes shall consist of four REMICs (referred to be created hereunderas "REMIC I," "REMIC II," "REMIC III" and "REMIC IV"). REMIC I As provided herein, the Trustee Trust Administrator will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Group 1, Group 2, Group 3 and Group 4 Mortgage Loans (exclusive of Excess Interest) and certain other related assets (exclusive of any entitlement to Assigned Prepayment Premiums, the Group 3 Excess Interest, the Group 4 Excess Interest, the Group 5 Interest Rate Cap Agreement and the assets held in the Group 5 Interest Rate Cap Account, the Prefunding Accounts and the Capitalized Interest Accounts) subject to this Agreement shall be treated as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. The REMIC I." Component I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and of the Class RAR-I L Certificates constitute will represent the sole Class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, remittance rate (the corresponding "Uncertificated REMIC I Pass-Through Rate") and initial Uncertificated Principal Balance for each of the "regular interests" in REMIC I (the "REMIC I Regular Interests") and the Class Principal Balance of Component I of the Class AR-L Certificates. The "latest possible maturity date" (determined solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) for each REMIC I Regular Interest (shall be the “Corresponding Maturity Date. None of the REMIC I Regular Interest”Interests will be certificated. Class Designation for Initial each REMIC I Uncertificated Regular Principal Interest and Uncertificated Balance or Component I of REMIC I Class the Class AR-L Type of Pass-Through Principal Certificates Interest Rate Balance Final Maturity Date* --------------- ------- ------------ -------------- -------------------- Class Y-1 Regular Variable(1) [and the Corresponding Components $ 61,050.51 May 2035 Class Y-2 Regular Variable(2) $ 102,899.16 May 2035 Class Y-3 Regular Variable(3) $ 54,453.57 May 2035 Class Y-4 Regular Variable(4) $ 64,316.64 May 2035 Class Z-1 Regular Variable(1) $122,039,978.24 May 2035 Class Z-2 Regular Variable(2) $205,457,270.60 May 2035 Class Z-3 Regular Variable(3) $108,852,695.30 May 2035 Class Z-4 Regular Variable(4) $128,420,113.31 May 2035 Component I of the Class X Certificates] AR-L Residual Variable(1) $50.00 May 2035 ----------------- * The Distribution Date in the specified month, which is the month following the month the latest maturing Mortgage Loan in the related Loan Group matures. For federal income tax purposes, for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLand Residual Interests, the "latest possible maturity date" shall be the Final Maturity Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (CSFB Adjustable Rate Mortgage Trust 2005-1)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Yield Maintenance Agreement and any payments thereunder and the Excess Interest Distribution AccountReserve Fund and any payments therefrom), as a real estate mortgage investment conduit (the "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC Regular I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC I Regular Interests Z. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. AGGREGATE INITIAL CERTIFICATE DESIGNATION RATE BALANCE FEATURES(1) DATE MOODY'S/S&P/FITC DENOMINATIONS(2) ▇▇▇▇▇ A-1(3) Variable $50,000,000 Senior/Floater/Adjustable Rate August 2036 Aaa/AAA/AAA $100,000.00 Rate Class A-2(3) Variable Senior/Inverse Floater/ Rate Notional Interest Only/Adjustable Rate August 2036 Aaa/AAA/AAA $1,000,000.00 Class A-3 6.25% $277,250,000 Senior/Fixed Rate August 2036 Aaa/AAA/AAA $100,000.00 Class A-4 6.25% $38,786,000 Super Senior/Lockout/Fixed Rate August 2036 Aaa/AAA/AAA $100,000.00 Class A-5 6.25% $1,512,000 Senior Support/Lockout/Fixed Rate August 2036 Aa1/AAA/AAA $100,000.00 Class A-6 6.25% $10,420,000 Senior/Retail/Fixed Rate August 2036 Aaa/AAA/AAA $1,000.00 Class A-7 6.25% $10,000,000 Super Senior/Lockout/Fixed Rate August 2036 Aaa/AAA/AAA $100,000.00 Class A-8 6.00% $30,000,000 Super Senior/Fixed Rate August 2036 Aaa/AAA/AAA $100,000.00 Class A-9 6.50% $30,000,000 Super Senior/Retail/Fixed Rate August 2036 Aaa/AAA/AAA $1,000.00 Class A-10 6.25% $2,500,000 Senior Support/Lockout/Fixed Rate August 2036 Aa1/AAA/AAA $100,000.00 Class A-FL Certificates, “Corresponding Certificates” shall mean the P 0.00% $1,570,946 Senior/Principal Only August 2036 Aaa/AAA/AAA $100,000.00 Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC V Variable Notional Senior/Interest Only/Variable Rate August 2036 Aaa/AAA/AAA $2,000,000.00 Rate Class R-I Regular Interests(16.25% $100.00 Senior/Residual/Fixed Rate August 2036 Aaa/AAA/AAA (4) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] R-II 6.25% $100.00 Senior/Residual/Fixed Rate August 2036 Aaa/AAA/AAA (4) Class M-1 6.25% $10,097,600 Mezzanine/Fixed Rate August 2036 NA/NA/AA $100,000.00 Class M-2 6.25% $2,817,900 Mezzanine/Fixed Rate August 2036 NA/NA/A LA $[_________] XA 250,000.00 Class M-3 6.25% $1,878,600 Mezzanine/Fixed Rate August 2036 NA/NA/BBB $250,000.00 Class B-1 6.25% $939,300 Subordinate/Fixed Rate August 2036 NA/NA/BB $250,000.00 Class B-2 6.25% $939,300 Subordinate/Fixed Rate August 2036 NA/NA/B LB $[_________] XB 250,000.00 Class C LC B-3 6.25% $[_________] XC Class A-FL Regular Interest LA-FL(2) 939,339 Subordinate/Fixed Rate August 2036 NA/NA/NA $[_________] XA-FL250,000.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006-S7 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 9.12, an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated Agreement, as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the Trustee will make, in accordance with Section 9.12, a separate REMIC election with respect thereto. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole Class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The Class I-A, Class II-A, Class III-A-1, Class III-A-2, Class III-A-3, Class IV-A-1, Class IV-A-2, Class IV-A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests" in REMIC II. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Regular Interest (Pass-Through Rate, the “Corresponding initial Uncertificated Principal Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for the REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding . The REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLInterests will not be certificated.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Mlmi Series 2004-A3)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund, the assets of which will consist primarily of the Mortgage Loans. As provided herein, the Trustee Bank of America, Federal Savings Bank, as Master Servicer, will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated described herein as a REMIC "real estate mortgage investment conduit" for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” interest" in REMIC I created hereunder for purposes federal income tax purposes. Bank of America, Federal Savings Bank, as Master Servicer, will make an election to treat the pool of assets consisting of the REMIC ProvisionsI Regular Interests as a "real estate mortgage investment conduit" for federal income tax purposes and such pool of assets will be designated as "REMIC II." The Class A, Class X, Class M and Class B Certificates will represent "regular interests" in REMIC II and the Class R-II Certificate will represent the sole class of "residual interest" in REMIC II for federal income tax purposes. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, initial Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date and the Corresponding Components of the Class X Certificates] initial ratings for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLTrust Fund created hereunder.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bankamerica Mortgage Securities Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee Master Servicer will elect make an election to treat the segregated pool of assets consisting described in the definition of the Mortgage Loans Trust Fund (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans but excluding the Initial Monthly Payment Deposit), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “REMIC I”. the "Trust Fund." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7 and Class B Certificates will represent ownership of "regular interests” " in REMIC I the Trust Fund, and the Class R-I R Certificates constitute will be the sole Class class of “"residual interests” in REMIC I created hereunder " therein, for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. AGGREGATE INITIAL PASS- CERTIFICATE INITIAL RATINGS THROUGH PRINCIPAL ----------------------- DESIGNATION TYPE RATE BALANCE FEATURES [ ] [ ] ----------------------------- ---------- --------------------------------- ------ -------- Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA A-1 Senior ____% $[_________] XA ___ Senior ____ ____ Class B LB A-2 Senior ____% $[_________] XB ___ Senior ____ ____ Class C LC A-3 Senior ____% $[_________] XC ___ Senior ____ ____ Class A-FL Regular Interest LA-FL(2) A-4 Senior ____% $[_________] XA___ Senior ____ ____ Class A-5 Senior/Fixed ____% $____________ Senior/Interest ____ ____ Strip Only Class A-6 Senior ____% $____________ Senior ____ ____ Class A-7 Senior/Variable Variable $____________ Senior/Interest ____ ____ Strip Rate Only Class R Residual ____% $____________ Residual ____ ____ Class B Subordinate ____% $____________ Subordinate ____ ____ The Mortgage Loans have an aggregate Stated Principal Balance as of the Cut-FLoff Date equal to $______________. The Mortgage Loans are fixed rate mortgage loans having terms to maturity at origination or modification of not more than 30 years. In consideration of the mutual agreements herein contained, the Company, the Master Servicer and the Trustee agree as follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mortgage Acceptance Corp)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. DESIGNATION Uncertificated Initial Uncertificated Latest REMIC I Principal Balance Possible Maturity(1) Pass-Through Rate REMIC I Regular Interest (the “Corresponding W 4.00% $36,709,062.00 February 25, 2034 REMIC I Regular Interest”) [and the Corresponding Components of the Class Interest X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt5.25% $254,186,233.57 February 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2034 REMIC I Regular Interests(1) Interest Y 8.00% $16,685,937.00 February 25, 2034 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Z 0.00% $116,391.87 February 25, 2034 REMIC I IO Regular Interests (2) $[_________] XA-FL(3) February 25, 2034 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be each REMIC (as defined herein) created hereunder. As provided hereinThe Trust Fund will consist of a segregated pool of assets comprising of the Mortgage Loans, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class APre-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Funding Account and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” Coverage Account and “REMIC II”, respectively)certain other related assets subject to this Agreement. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets (other than the Master Servicer Prepayment Charge Payment Amount, the Pre-Funding Account and the Interest Coverage Account) subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Remittance Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC I Regular Interest Interests (as defined herein). None of the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Designation REMIC I Regular Interests(1Initial Latest Possible MATURITY DATE(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[REMITTANCE RATE UNCERTIFICATED BALANCE ---------------- --------------- ---------------------- I-LT1 Variable(2) I-LT2 Variable(2) I-LT3 Variable(2) I-LT4 Variable(2) I-LT5 Variable(2) I-LT6 Variable(2) I-LT7 Variable(2) I-LTP Variable(2) _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL _ (1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC I Regular Interest LA-FL(2) $[_________] XA-FLInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Argent Securities Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST REMIC-I-PASS PRINCIPAL-BALANCE POSSIBLE-MATURITY(1) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding DESIGNATION THROUGH RATE Uncertificated REMIC I 6.75% $ 83,307,896.81 September 25, 2031 Regular Interests(1) Interest Q Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[8.50% $ 50,176,000.00 September 25, 2031 Regular Interest R Uncertificated REMIC I 6.25% $ 35,000,000.00 September 25, 2031 Regular Interest S Uncertificated REMIC I 6.50% $ 2,000,000.00 September 25, 2031 Regular Interest T Uncertificated REMIC I 6.25% $ 139,616,000.00 September 25, 2031 Regular Interest V Uncertificated REMIC I 0.00% $ 344,376.29 September 25, 1031 Regular Interest W Uncertificated REMIC I Variable (2) N/A(3) September 25, 2031 IO Regular Interests _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee Master Servicer will elect make an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the Master Servicer will make a separate REMIC election with respect thereto. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates and the Uncertificated REMIC II Regular Interests (as defined herein), the rights in and to which will initially be represented by the Excess Spread (as defined herein), will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. NY1-172102.4 The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates issued on the REMIC II Regular Certificates (Closing Date comprising the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. Aggregate Initial Certificate Pass-Through Principal Designation Type Rate Balance Class A-1 Senior 7.50% $21,520,000.00 Class A-2 Senior 8.00% $24,275,000.00 Class A-3 Senior 8.00% $13,325,000.00 Class A-4 Senior 7.25% $3,200,000.00 Class A-5 Senior Adjustable Rate $36,000,000.00 Class A-6 Senior Adjustable Rate $0.00 Class A-7 Senior 8.00% $34,877,000.00 Class A-8 Senior 7.50% 25,540,000.00 Class A-9 Senior 7.50% $20,140,000.00 Class A-10 Senior 8.00% $16,200,000.00 Class A-11 Senior 8.00% $5,000,000.00 Class A-12 Senior 0.00% $575,632.40 Class R-I Senior 8.00% $100.00 Class R-II Senior 8.00% $100.00 Class M-1 Mezzanine 8.00% $4,235,400.00 Class M-2 Mezzanine 8.00% $2,117,700.00 Class M-3 Mezzanine 8.00% $2,435,400.00 Class B-1 Subordinate 8.00% $1,058,900.00 Class B-2 Subordinate 8.00% $423,500.00 Class B-3 Subordinate 8.00% $847,661.00 Designatio Maturity Initial Features Date Ratings Class A-1 Senior October 25, 2026 AAA AAA Initial Ratings Class A-2 Senior October 25, 2026 AAA AAA S&P Fitch Class A-3 Senior October 25, 2026 AAA AAA Class A-4 Super Senior/Senior October 25, 2026 AAA AAA Class A-5 Adjustable Rate/Senior October 25, 2026 AAA AAA Class A-6 Interest Only/Senior October 25, 2026 AAAr AAA Class A-7 Super Senior/Senior October 25, 2026 AAA AAA Class A-8 Senior October 25, 2026 AA AAA Class A-9 Senior October 25, 2026 AAA AAA Class A-10 Prepayment Lockout/Senior October 25, 2026 AAA AAA Class A-11 Prepayment Lockout/ October 25, 2026 AAA AAA Senior Support/Senior Class A-12 Principal Only/Senior October 25, 2026 AAAr AAA Class R-I Residual October 25, 2026 AAA AAA Class R-II Residual October 25, 2026 AAA AAA Class M-1 Mezzanine October 25, 2026 N/A AA Class M-2 Mezzanine October 25, 2026 N/A A Class M-3 Mezzanine October 25, 2026 N/A BBB Class B-1 Subordinate October 25, 2026 N/A BB Class B-2 Subordinate October 25, 2026 N/A B Class B-3 Subordinate October 25, 2026 N/A N/A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Senior Certificates (other than the Class CB-IO, Class 30-PO, Class 1-CB-R and Class 1-CB-LR Certificates) are referred to collectively as the "Regular Certif▇▇▇▇▇s" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-CB-IO Component, Class 1-30-PO Component, Class 2-CB-IO Component, Class 2-30-PO Component and Class 3-30-PO Component (collectively, the Trustee will elect to treat "Components") shall also constitute "regular interests" in the segregated pool of assets consisting of Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement "regular interests" in the Lower-Tier REMIC. The Class 1-CB-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class 1-CB-LR Certificate shall be the "residual interest" in the Lower-Tier RE▇▇▇. The Certificates will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Certificates and the Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable: -------------------------------------------------------------------------------- Integral Initial Class Multiples in Certificate Balance Pass-Through Minimum Excess of Classes or Notional Amount Rate Denomination Minimum -------------------------------------------------------------------------------- Class 1-CB-1 $98,681,000.00 6.000% $1,000 $1 Class 1-CB-R $50.00 6.000% $50 N/A Class 1-CB-LR $50.00 6.000% $50 N/A Cla▇▇ ▇-CB-1 $81,841,000.00 6.000% $1,000 $1 Class CB-IO $1,678,304.00 (1) $1,000,000 $1 Class 3-A-1 $97,817,000.00 5.750% $1,000 $1 Class 3-IO $4,414,072.00 5.750% $1,000,000 $1 Class 30-PO $5,241,085.00 (2) $25,000 $1 Class 4-A-1 42,626,000.00 5.500% $1,000 $1 Class 15-IO $423,473.00 5.500% $423,473 N/A Class 15-PO 1,367,082.00 (3) $25,000 $1 Class B-1 $7,728,000.00 (4) $25,000 $1 Class B-2 $2,575,000.00 (4) $25,000 $1 Class B-3 $1,717,000.00 (4) $25,000 $1 Class B-4 $1,373,000.00 (4) $25,000 $1 Class B-5 $1,030,000.00 (4) $25,000 $1 Class B-6 $1,374,278.00 (4) $25,000 $1 -------------------------------------------------------------------------------- Integral Initial Component Multiples In Balance or Component designation, the corresponding REMIC I Regular Interest Pass-Through Minimum Excess Of Components Notional Amount Rate Denomination Minimum -------------------------------------------------------------------------------- Class 1-CB-IO $1,018,513.50 6.000% N/A N/A Class 2-CB-IO $659,790.50 6.000% N/A N/A Class 1-30-PO $2,354,368.70 (the “Corresponding REMIC I Regular Interest”5) [and the Corresponding Components of the N/A N/A Class X Certificates] for each 2-30-PO $2,449,391.60 (5) N/A N/A Class of the REMIC II Regular Certificates 3-30-PO $437,324.70 (the “Corresponding Certificates”5) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class N/A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLN/A -------------------------------------------------------------------------------- ------------
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestGroup I Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). As provided herein, the REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC II (as defined herein), and subject to this Agreement (including the Group II Loans but excluding the Initial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be designated as "REMIC II." The REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. A segregated pool of assets consisting of the REMIC I Regular Interests and REMIC II Regular Interests will be designated as "REMIC III" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class I-A-6 Certificates, Class I-A-7 Certificates, Class I-A-8 Certificates, Class I-A-9 Certificates, Class I-A-10 Certificates, Class I-A-11 Certificates, Class I-A-12 Certificates, Class I-A-13 Certificates, Class I-A-P Certificates, Class II-A-1 Certificates, Class II-A-P Certificates, Class I-M-1 Certificates, Class I-M-2 Certificates, Class I-M-3 Certificates, Class II-M-1 Certificates, Class II-M-2 Certificates, Class II- M-3 Certificates, Class I-B-1 Certificates, Class I-B-2 Certificates, Class I-B-3 Certificates, Class II-B-1 Certificates, Class II-B-2 Certificates, Class II-B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class I-A-V and Class II-A-V Certificates or any Subclass thereof issued pursuant to Section 5.01(c) will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests represented by such Class or Subclass as of the day immediately preceding such Distribution Date (or, with respect to the initial Distribution Date, at the close of business on the Cut-off Date). The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC I Regular Interests. None of the REMIC I Regular Interests will be certificated. Uncertificated Initial Uncertificated Latest REMIC-I-Pass Principal-Balance Possible-Maturity(1) Designation Through Rate ---------------------------------------------- ---------------------------------------------------- REMIC I Regular Interest (the “Corresponding A 5.25% $ 321,274,653.82 May 25, 2034 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class Interest I-A-FL CertificatesP 0.00% $ 1,037,881.63 ] May 25, “Corresponding Certificates” shall mean the Class 2034 REMIC I I-A-FL V Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1(2) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2$ (3) $[_________] XA-FLMay 25, 2034 Interests
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2004-S5 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell home equity loan pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple sixteen Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderMortgage Loans (as defined herein) and certain other related assets. REMIC I As provided herein, the Trustee REMIC Administrator will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets (exclusive of the Yield Maintenance Agreement and any payments thereunder) subject to this Agreement shall be treated as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”I." The Class R-I Certificates will represent the sole Class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, remittance rate (the "Uncertificated REMIC I Pass-Through Rate") and initial Uncertificated Principal Balance for each of the "regular interests" in REMIC I (the "REMIC I Regular Interests"). The "latest possible maturity date" (determined for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii)) for the REMIC I Regular Interests shall be the 360th Distribution Date. The REMIC I Regular Interests listed below under the heading “Corresponding will not be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class RLATEST POSSIBLE DESIGNATION PASS-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest THROUGH RATE PRINCIPAL BALANCE MATURITY DATE ----------- ----------------- ---------------------- --------------- [AA (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(21) $[_____________] XA-FL[_], 25, 200[_] A-1 (1) $[_____________] [_], 25, 200[_] A-2 (1) $[_____________] [_], 25, 200[_] A-3 (1) $[_____________] [_], 25, 200[_] M-1 (1) $[_____________] [_], 25, 200[_] M-2 (1) $[_____________] [_], 25, 200[_] M-3 (1) $[_____________] [_], 25, 200[_] M-4 (1) $[_____________] [_], 25, 200[_] M-5 (1) $[_____________] [_], 25, 200[_] M-6 (1) $[_____________] [_], 25, 200[_] M-7 (1) $[_____________] [_], 25, 200[_] M-8 (1) $[_____________] [_], 25, 200[_] M-9 (1) $[_____________] [_], 25, 200[_] M-10 (1) $[_____________] [_], 25, 200[_] ZZ] (1) $[_____________] [_], 25, 200[_]
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Reserve Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution AccountInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-3A Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST -REMIC-I-PASS PRINCIPAL-BALANCE POSSIBLE-MATURITY(1) DESIGNATION THROUGH RATE ----------------------------------------------------------------------------- REMIC I Regular Interest (the “Corresponding 6.50% $ 248,492,451.40 May 25, 2032 U REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest 6.50% $ 26,178,000.00 May 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2032 V REMIC I Regular Interests(1) Interest 6.00% $ 109,820,645.00 May 25, 2032 W REMIC I Principal Balance [Corresponding Components of Class Regular Interest 8.50% $ 12,500,000.00 May 25, 2032 X Certificates(1)] Class A LA $[REMIC I Regular Interest 8.50% $ 14,955,161.00 May 25, 2032 Y REMIC I Regular Interest 0.00% $ 1,231,617.98 May 25, 2032 Z REMIC I Variable (2) N/A(3) May 25, 2032 IO Regular Interests _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Class A Certificates (other than the Class 1-A-R and Class 1-A-LR Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-SES Component, Class 2-SES Component, Class 3-SES Component, Class 1-IO Component and Class 2-IO Component (collectively, the Trustee will elect to treat "Components") shall also constitute "regular interests" in the segregated pool of assets consisting of Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, may be issued in the case any amount in excess of the minimum denomination): =========================================================================== Initial Class Integral Certificate Pass- Multiples Balance or Through Minimum in Excess Classes Notional Amount Rate Denomination of Minimum --------------------------------------------------------------------------- Class 1-A-1 $175,144,000.00 (1) $1,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class 1-A-FL Certificates, “Corresponding Certificates” shall mean the R $50.00 (1) $50 N/A ----------------- ----------------- ---------- ------------- -------------- Class 1-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA LR $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(250.00 (1) $[_________] XA50 N/A ----------------- ----------------- ---------- ------------- -------------- Class 2-FLA-1 $52,096,000.00 (2) $1,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class 2-A-2 $100,000,000.00 (2) $1,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class 2-A-3 $300,000,000.00 (3) $1,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class 2-A-4 $4,611,000.00 (3) $1,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class 3-A-1 $100,276,000.00 (4) $1,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class B-1 $9,411,000.00 (5) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class B-2 $4,517,000.00 (5) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class B-3 $3,011,000.00 (5) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class B-4 $1,129,000.00 (5) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class B-5 $1,129,000.00 (5) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class B-6 $1,506,503.00 (5) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class SES $752,830,603.50 (6) $25,000 $1 ----------------- ----------------- ---------- ------------- -------------- Class IO $649,718,889.58 (7) $25,000 $1 =========================================================================== Initial Component Integral Balance or Pass- Multiples In Component Through Minimum Excess Of Components Notional Amount Rate Denomination Minimum --------------------------------------------------------------------------- Class 1-SES $180,096,893.76 0.325% N/A N/A ----------------- ----------------- ---------- ------------- -------------- Class 2-SES $469,621,995.82 0.200% N/A N/A ----------------- ----------------- ---------- ------------- -------------- Class 3-SES $103,111,713.92 0.200% N/A N/A ----------------- ----------------- ---------- ------------- -------------- Class 1-IO $180,096,893.76 (8) N/A N/A ----------------- ----------------- ---------- ------------- -------------- Class 2-IO $469,621,995.82 (8) N/A N/A ===========================================================================
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Pass THR Certs Ser 2003-H)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST REMIC-I-PASS PRINCIPAL-BALANCE POSSIBLE-MATURITY(1) DESIGNATION THROUGH RATE --------------------------------------------------------------------------------------------- REMIC I Regular Interest (the “Corresponding 4.50% $ 85,667,174.00 November 25, 2017 W REMIC I Regular Interest”) [and the Corresponding Components of the Class Interest 5.00% $ 205,739,495.76 November 25, 2017 X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) Interest 8.50% $ 12,238,168.00 November 25, 2017 Y REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[Regular Interest 0.00% $ 3,527.03 November 25, 2017 Z REMIC I Variable (2) N/A(3) November 25, 2017 IO Regular Interests _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificatesmortgage pass-through certificates, to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust Mortgage Loans (as defined below). The Mortgage Loans will be serviced pursuant to be created hereunderthe terms hereof. The Depositor hereby assigns to the Trustee, acting on behalf of the Certificateholders, its interests and rights in the Mortgage Loans. As provided herein, the Trustee will elect that two the segregated pools pool of assets within the Trust Fund subject to this Agreement (exclusive of the Class A-FL Regular Interestincluding, without limitation, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution AccountMortgage Loans) be treated for federal income tax purposes as two separate a real estate mortgage investment conduits conduit (“REMIC I” "a REMIC") and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting will be designated as "REMIC I." One hundred and seven partial undivided beneficial ownership interests in each of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a the "REMIC for federal income tax purposesI Uncertificated Classes"), and such segregated asset pool will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder I, for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. A segregated pool of assets consisting of the REMIC I Uncertificated Classes will be designated as "REMIC II" and the Trustee will make a separate REMIC election with respect thereto. Ten partial undivided beneficial ownership interests in REMIC II (the "REMIC II Uncertificated Classes") will be designated as the "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II, for purposes of the REMIC Provisions under federal income tax laws. A segregated pool of assets consisting of the REMIC II Uncertificated Classes will be designated as "REMIC III" and the Trustee will make a separate REMIC election with respect thereto. The Class A1, Class A2, Class A3, Class B, Class C, Class D, Class E, Class F, Class G and Class NR Certificates and each of the Class X Components will be designated as the "regular interests" in REMIC III, and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions under federal income tax law. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Pass-Through Rate and the Corresponding Components of the Original Class X Certificates] Balance for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. Class AOriginal Designation Pass-FL Certificates, “Corresponding Certificates” shall mean the Through Rate Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1Balance ------------------------------------------------------------------- Class A1 6.939% $40,000,000 Class A2 7.323% $100,124,000 Class A3 7.535% $138,659,000 Class B (1) REMIC I Principal Balance [Corresponding Components of $24,419,000 Class C (2) $22,384,000 Class D (3) $20,349,000 Class E (4) $6,104,000 Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2(5)(6) $[_________] XA0 Class F 7.38% $26,454,000 Class G 7.38% $16,279,000 Class NR 7.38% $12,213,353 Class R-FLI NA NA Class R-II NA NA Class R-III NA NA
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan J P Commercial Mortgage Finance Corp)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A Certificates, Class II-A Certificates, Class III-A-1 Certificates, Class III-A-2 Certificates, Class IV-A-1 Certificates, Class IV-A-2 Certificates, Class V-A-1 Certificates, Class V-A-2 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates, will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of this Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. LATEST UNCERTIFICATED REMIC INITIAL UNCERTIFICATED POSSIBLE DESIGNATION I PASS-THROUGH RATE PRINCIPAL BALANCE MATURITY(1) Uncertificated REMIC I Regular Interest I-A Variable (the “Corresponding 2) $58.00 October 25, 2037 Uncertificated REMIC I Regular Interest”Interest I-B Variable (2) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt$1360.00 October 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2037 Uncertificated REMIC I Regular Interests(1Interest II-A Variable (2) $29.00 October 25, 2037 Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class Regular Interest II-B Variable (2) $ 674.00 October 25, 2037 Uncertificated REMIC I Regular Interest III-A LA $[Variable (2) $ 926.00 October 25, 2037 Uncertificated REMIC I Regular Interest III-B Variable (2) $ 21,776.00 October 25, 2037 Uncertificated REMIC I Regular Interest IV-A Variable (2) $ 411.00 October 25, 2037 Uncertificated REMIC I Regular Interest IV-B Variable (2) $ 9649.00 October 25, 2037 Uncertificated REMIC I Regular Interest V-A Variable (2) $ 342.00 October 25, 2037 Uncertificated REMIC I Regular Interest V-B Variable (2) $ 8037.00 October 25, 2037 Uncertificated REMIC I Regular Interest ZZZ Variable (2) $ 414,885,504.06 October 25, 2037 Uncertificated REMIC I Regular Interest R-II Variable (2) $ 50.00 October 25, 2037 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL _ (1) For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Uncertificated REMIC I Regular Interest LA-FL(2) $[_________] XA-FLInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2007-Sa4 Trust)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestGroup I Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). As provided herein, the REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of REMIC II (as defined herein), and subject to this Agreement (including the Group II Loans but excluding the Initial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be designated as "REMIC II." The REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions). A segregated pool of assets consisting of the REMIC I Regular Interests and the REMIC II Regular Interests will be designated as "REMIC III" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class I-A-6 Certificates, Class I-A-P Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class II-A-P Certificates, Class I-M-1 Certificates, Class I-M-2 Certificates, Class I-M-3 Certificates, Class II-M-1 Certificates, Class II-M-2 Certificates, Class II-M-3 Certificates, Class I-B-1 Certificates, Class I-B-2 Certificates, Class I-B-3 Certificates, Class II-B-1 Certificates, Class II-B-2 Certificates, Class II-B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class I-A-V and Class II-A-V Certificates or any Subclass thereof issued pursuant to Section 5.01(c) will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests represented by such Class or Subclass as of the day immediately preceding such Distribution Date (or, with respect to the initial Distribution Date, at the close of business on the Cut-off Date). The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC I Regular Interests. None of the REMIC I Regular Interests will be certificated. Uncertificated REMIC I Pass-Through Initial Uncertificated Latest Designation Rate Principal Balance Possible Maturity(1) REMIC I Regular Interest (the “Corresponding A 5.50% $257,606,540.80 February 25, 2035 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class Interest I-A-FL CertificatesP 0.00% $2,171,278.74 February 25, “Corresponding Certificates” shall mean the Class 2035 REMIC I I-A-FL V Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1Interests (2) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2$ (3) $[_________] XA-FLFebruary 25, 2035
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross- reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. ncertificated REMIC I Initial Pass-Through Uncertificated Latest DESIGNATION U Rate Principal Balance Possible Maturity(1) REMIC I Regular Interest (the “Corresponding T 4.00% $ 25,000,000.00 June 25, 2018 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest U 4.00% $ 8,652,858.00 June 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2018 REMIC I Regular Interests(1) Interest V 7.50% $ 60,361,142.00 June 25, 2018 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2W 5.00% $ 142,958,331.88 June 25, 2018 REMIC I Regular Interest X 4.00% $ 77,250,00.00 June 25, 2018 REMIC I Regular Interest Y 4.00% $ 40,000,000.00 June 25, 2018 REMIC I Regular Interest Z 0.00% $ 1,372,294.24 June 25, 2018 REMIC I IO Regular Interests (2) $[_________] XA-FL(3) June 25, 2018 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, the Depositor hereby conveys the Trust Estate to the Trustee to create the Trust. The Trust Estate for federal income tax purposes will be issued hereunder in multiple Classestreated as three separate real estate mortgage investment conduits (the "Upper-Tier REMIC," "Middle-Tier REMIC" and the "Lower-Tier REMIC," respectively, which and each, a "REMIC"). The Class A Certificates (other than the Class 1-A-R, Class 1-A-MR and Class 1-A-LR Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the aggregate Upper-Tier REMIC. The Uncertificated Middle-Tier Interests shall constitute the "regular interests" in the Middle-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be the "residual interest" in the Upper-Tier REMIC, the Class 1-A-MR Certificate shall be the "residual interest" in the Middle-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates, the Uncertificated Lower-Tier Interests and the Middle-Tier Interests will evidence represent the entire beneficial ownership interest in the Trust to be created hereunderTrust. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated The "latest possible maturity date" for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components characteristics of the Class X Certificates] for , together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable (except that one Certificate of each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, may be issued in the case any amount in excess of the minimum denomination): ====================== ====================== ============================== ======================== ======================== Integral Multiples Initial Class Minimum in Excess Classes Certificate Balance Pass-Through Rate Denomination of Minimum ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-1 $558,000,000.00 (1) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-2 $15,000,000.00 6.000% (2) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-3 $43,000,000.00 3.500% (2) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-4 $340,551,000.00 5.000% (2) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-5 $75,000,000.00 4.500% (2) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-6 $250,000,000.00 4.200% (2) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-7 $825,000.00 4.500% (2) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-FL Certificates, “Corresponding Certificates” shall mean the IO $724,376,000.00 (3) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1R $50.00 (1) REMIC I Principal Balance [Corresponding Components of $50 N/A ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class 1-A-FL Regular Interest LA-FL(2MR $25.00 (1) $[_________] XA25 N/A ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 1-FLA-LR $25.00 (1) $25 N/A ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 2-A-1 $435,079,000.0 (4) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 2-A-2 $17,403,000.0 (4) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 3-A-1 $71,888,000.0 (5) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 4-A-1 $97,897,000.0 4.698% (6) $1,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class 4-A-IO $97,897,000.0 (7) $10,000,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-1-IO $18,447,000.00 1.700% (8) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-1 $18,447,000.00 (9) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-2 $7,766,000.00 (10) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-3 $3,883,000.00 (10) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-4 $1,942,000.00 (10) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-5 $1,941,000.00 (10) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ Class B-6 $2,913,292.00 (10) $25,000 $1 ---------------------- ---------------------- ------------------------------ ------------------------ ------------------------ -----------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bank of America Mortgage Sec Inc Mort Ps THR Cert Ser 2002-K)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), as a real estate mortgage investment conduit (the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account"REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC Regular I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, the Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC I Regular Interests Z. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. AGGREGATE INITIAL CERTIFICATE PASS-THROUGH PRINCIPAL MATURITY MOODY'S/ MIN▇▇▇▇ DESIGNATION RATE BALANCE FEATURES(1) DATE S&P/FITCH DENOMINATIONS(2) Class A-1 Adjustable $103,066,220.00 Senior/Floater/Adjustable Rate December, 2035 Aaa/AAA/AAA $100,000.00 Rate Class A-2 Adjustable $17,924,560.00 Senior/Inverse December, 2035 Aaa/AAA/AAA $100,000.00 Rate Floater/Adjustable Rate Class A-3 5.75% $49,879,000.00 Super Senior/ Fixed Rate December, 2035 Aaa/AAA $100,000.00 Class A-4 5.75% $1,871,320.00 Senior Support/ Fixed Rate December, 2035 Aa1/AAA/AAA $100,000.00 Class A-5 5.75% $81,289,900.00 Senior/Fixed Rate December, 2035 Aaa/AAA/AAA $100,000.00 Class A-6 5.75% $32,000,000.00 Super Senior/Lockout/Fixed Rate December, 2035 Aaa/AAA $100,000.00 Class A-7 5.75% $5,716,000.00 Senior Support/Lockout/Fixed Rate December, 2035 Aa1/AAA/AAA $100,000.00 Class A-8 5.50% $15,986,000.00 Super Senior/Accretion December, 2035 Aaa/AAA/AAA $100,000.00 Directed/Fixed Rate Class A-9 5.50% $21,160,000.00 Super Senior/Accrual/Fixed Rate December, 2035 Aaa/AAA/AAA $100,000.00 Class A-10 6.25% $15,000,000.00 Senior/Fixed Rate December, 2035 Aaa/AAA/AAA $100,000.00 Class A-11 6.25% $4,200,000.00 Senior/Retail/Fixed Rate December, 2035 Aaa/AAA/AAA $1,000.00 Class A-12 5.50% $1,254,000.00 Senior Support/Accretion December, 2035 Aa1/AAA/AAA $100,000.00 Directed Fixed/Rate Class A-FL CertificatesP 0.00% $3,504,096.32 Senior/Principal Only December, “Corresponding Certificates” shall mean the 2035 Aaa/AAA/AAA $100,000.00 Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC V Variable Notional Senior/Interest Only/Variable December, 2035 Aaa/AAA/AAA $2,000,000.00 Rate(3) Rate Class R-I Regular Interests(15.75% $100.00 Senior/Residual/Fixed Rate December, 2035 Aaa/AAA/AAA (4) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] R-II 5.75% $100.00 Senior/Residual/Fixed Rate December, 2035 Aaa/AAA/AAA (4) Class M-1 5.75% $7,515,400.00 Mezzanine/Fixed Rate December, 2035 NA/NA/AA $100,000.00 Class M-2 5.75% $2,382,900.00 Mezzanine/Fixed Rate December, 2035 NA/NA/A LA $[_________] XA 250,000.00 Class M-3 5.75% $1,466,400.00 Mezzanine/Fixed Rate December, 2035 NA/NA/BBB $250,000.00 Class B-1 5.75% $916,500.00 Subordinate/Fixed Rate December, 2035 NA/NA/BB $250,000.00 Class B-2 5.75% $549,900.00 Subordinate/Fixed Rate December, 2035 NA/NA/B LB $[_________] XB 250,000.00 Class C LC B-3 5.75% $[_________] XC Class A-FL Regular Interest LA-FL(2) 916,565.37 Subordinate/Fixed Rate December, 2035 NA/NA/NA $[_________] XA-FL250,000.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-S9 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. For federal income tax purposes, an election will be made to treat the entire segregated pool of assets described in the definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (excluding the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Cap Contract and the Excess Interest Distribution AccountReserve Fund), as a real estate mortgage investment conduit (a “REMIC”) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. I.” The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute will be “regular interests” in REMIC I and the Class R-I Certificates constitute Interest will be the sole Class class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” a separate REMIC election will be made with respect thereto. The REMIC II Regular Interests will be “regular interests” in REMIC II and the Class R-II Interest will be the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the REMIC II Regular Interests will be designated as “REMIC III,” a separate REMIC election will be made with respect thereto. The Class 1-A-1 Certificates, Class 1-A-2 Certificates, Class 1-A-3 Certificates, Class 1-A-4 Certificates, Class 1-A-5 Certificates, Class 1-A-6 Certificates, Class 2-A-1 Certificates, Class X-A Certificates, Class X-B Certificates, Class PO-A Certificates, Class PO-B Certificates, Class M Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Class B-4 Certificates, Class B-5 Certificates and Class P Certificates will be “regular interests” in REMIC III and the Class R-III Interest will be the sole class of “residual interests” therein for purposes of the REMIC Provisions. The Class A-R Certificates will represent ownership of the Class R-I Interest, Class R-II Interest and Class R-III Interest. For the avoidance of doubt and as described above, the Trust Fund will be treated for federal income tax purposes as three REMICs. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I Regular Interest (Interests. None of the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLInterests will be certificated.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Countrywide Home Loans 2005-J8)
PRELIMINARY STATEMENT. The Depositor Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesfive classes (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Fund (as defined herein), consisting primarily of the Mortgage Loans, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class APre-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Funding Accounts and the Excess Interest Distribution Account) be treated for federal income tax purposes Coverage Accounts (each, as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectivelydefined herein). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of Trust Fund (other than the Mortgage Loans (exclusive of Excess InterestPre-Funding Accounts and the Interest Coverage Accounts) and certain other related assets subject to this Agreement shall be treated as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “Class A Certificates (as defined herein) and Class S Certificates (as defined herein) will represent ownership of "regular interests” " in REMIC I the REMIC, and the Class R-I R Certificates will constitute the sole Class of “"residual interests” interest" in the REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest type, aggregate Original Certificate Principal Balance (the “Corresponding REMIC I Regular Interest”) [as defined herein), maturity date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance Trust Fund created hereunder. AGGREGATE DESIGNATION ORIGINAL ----------------------- CERTIFICATE [Corresponding Components of Class X Certificates(1)DC]R [MOOD▇'▇] Class A LA $TYPE PRINCIPAL BALANCE FEATURES MATURITY DATE [_________S&P] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL-------- ------------- --------------- ----------------------- --------------- --------------------- --------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Abs Capital I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. A segregated pool of assets consisting of the Uncertificated REMIC II Regular Interests will be designated as "REMIC III" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-P Certificates, Class II-A-1 Certificates, Class II-A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates, Uncertificated Class I-A-V REMIC Regular Interests and Uncertificated Class II-A-V REMIC Regular Interests will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class I-A-V and Class II-A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class I-A-V REMIC Regular Interests and the Uncertificated Class II-A-V REMIC Regular Interests, respectively. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Uncertificated -Initial Uncertificated Latest --REMIC-I-Pass---- ---Principal-Balance-------Possible-Maturity(1) Designation Through Rate REMIC I Regular Interest LT-I-SUB 5.25% $ 291.89 March 25, 2018 REMIC I Regular Interest LT-I-ZZZ 5.25% $ 253,279,572.59 March 25, 2018 REMIC I Regular Interest LT-II-SUB 5.00% $ 58.50 March 25, 2018 REMIC I Regular Interest LT-II-ZZZ 5.00% $ 50,738,081.25 March 25, 2018 REMIC I Regular Interest LT-I-PO 0.00% $ 510,932.99 March 25, 2018 REMIC I Regular Interest LT-II-PO 0.00% $ 59,468.31 March 25, 2018 REMIC I Regular Interest (the “Corresponding 2) LT-I-IO N/A (3) March 25, 2018 REMIC I Regular Interest”Interest (4) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates N/A (the “Corresponding Certificates”3) (for the avoidance of doubtMarch 25, in the case of the Class A2018 LT-FL Certificates, “Corresponding Certificates” shall mean the Class AII-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLIO
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Class A Certificates (other than the Class 1-A-18, Class 1-A-R, Class 1-A-LR and Class A-PO Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-A-18A Component, Class 1-A-18B Component, Class 1-A-18C Component, Class 1-A-PO Component, Class 2-A-PO Component and Class 3-A-PO Component (collectively, the Trustee will elect to treat "Components") shall also constitute "regular interests" in the segregated pool of assets consisting of Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of Certificates may be issued in any amount in excess of the REMIC II Regular Certificates minimum denomination): Integral Multiples Initial Class Pass-Through Minimum in Excess Classes Certificate Balance Rate Denomination of Minimum ------- ------------------- ---- ------------ ---------- Class 1-A-1 $ 278,842,000.00 6.750% $1,000 $1 Class 1-A-2 $ 83,300,000.00 6.750% $1,000 $1 Class 1-A-3 $ 70,000,000.00 6.750% $1,000 $1 Class 1-A-4 $ 8,331,000.00 6.750% $1,000 $1,000 Class 1-A-5 $ 12,526,000.00 6.750% $1,000 $1 Class 1-A-6 $ 10,000,000.00 6.750% $1,000 $1 Class 1-A-7 $ 25,000,000.00 6.000% $1,000 $1 Class 1-A-8 $ 46,787,029.00 (the “Corresponding Certificates”1) $1,000 $1 Class 1-A-9 $ 12,129,971.00 (2) $1,000 $1 Class 1-A-10 $ 1,436,000.00 6.750% $1,000 $1 Class 1-A-11 $ 2,140,000.00 6.750% $1,000 $1 Class 1-A-12 $ 1,450,000.00 6.750% $1,000 $1 Class 1-A-13 $ 2,213,000.00 6.750% $1,000 $1 Class 1-A-14 $ 9,474,000.00 6.750% $1,000 $1 Class 1-A-15 $ 32,745,000.00 5.750% $1,000 $1 Class 1-A-16 $ 10,190,000.00 6.500% $1,000 $1 Class 1-A-17 $ 15,002,000.00 6.750% $1,000 $1 Class 1-A-18 (3) (for the avoidance of doubt, in the case of the 3) $1,000 $1 Class 1-A-19 $ 72,000,000.00 6.750% $1,000 $1 Class 1-A-R $ 50.00 6.750% $50 N/A Class 1-A-LR $ 50.00 6.750% $50 N/A Class 2-A-1 $ 298,820,000.00 6.500% $1,000 $1 Class 3-A-1 $ 117,069,000.00 6.750% $1,000 $1 Class 3-A-2 $ 8,729,000.00 6.750% $1,000 $1 Class 3-A-3 $ 14,500,000.00 6.750% $1,000 $1 Class 1-B-1 $ 12,264,000.00 6.750% $25,000 $1 Class 1-B-2 $ 5,411,000.00 6.750% $25,000 $1 Class 1-B-3 $ 2,886,000.00 6.750% $25,000 $1 Class 1-B-4 $ 1,804,000.00 6.750% $25,000 $1 Class 1-B-5 $ 1,443,000.00 6.750% $25,000 $1 Class 1-B-6 $ 1,442,985.06 6.750% $25,000 $1 Class 2-B-1 $ 1,976,000.00 6.500% $25,000 $1 Class 2-B-2 $ 1,064,000.00 6.500% $25,000 $1 Class 2-B-3 $ 608,000.00 6.500% $25,000 $1 Class 2-B-4 $ 304,000.00 6.500% $25,000 $1 Class 2-B-5 $ 304,000.00 6.500% $25,000 $1 Class 2-B-6 $ 304,706.60 6.500% $25,000 $1 Class 3-B-1 $ 2,842,000.00 6.750% $25,000 $1 Class 3-B-2 $ 802,000.00 6.750% $25,000 $1 Class 3-B-3 $ 438,000.00 6.750% $25,000 $1 Class 3-B-4 $ 438,000.00 6.750% $25,000 $1 Class 3-B-5 $ 292,000.00 6.750% $25,000 $1 Class 3-B-6 $ 292,247.89 6.750% $25,000 $1 Class A-FL Certificates, “Corresponding Certificates” shall mean the PO (4) (4) $25,000 $1 Integral Initial Component Pass- Multiples Balance or Component Through Minimum In Excess Components Notional Amount Rate Denomination Of Minimum ---------- --------------- ---- ------------ ---------- Class 1-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1PO $ 2,543,293.65 (5) REMIC I Principal Balance [Corresponding Components of N/A N/A Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class 2-A-FL Regular Interest LAPO $ 489,677.35 (5) N/A N/A Class 3-FL(2A-PO $ 340,025.00 (5) $[_________N/A N/A Class 1-A-18A $ 4,851,111.11 6.75% N/A N/A Class 2-A-18B $ 377,407.41] XA6.75% N/A N/A Class 3-FLA-18C $ 2,777,777.48 6.75% N/A N/A
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bank of America Mort Sec Inc Mort Pass THR Cert Ser 2001-8)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 10.01, an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the Trustee will make, in accordance with Section 10.01, a separate REMIC election with respect thereto. The Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-1, Class M-1-X, Class M-2, Class M-2-X, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC I Regular Interests. None of the REMIC I Regular Interests will be certificated. Uncertificated REMIC I Initial Uncertificated Latest Possible Designation Pass-Through Rate Principal Balance Maturity Date(1) ----------- ----------------- ----------------- ---------------- Uncertificated REMIC I 9.00% $68,900,000.00 January 25, 2030 Regular Interest N Uncertificated REMIC I 9.00% $70,000,000.00 January 25, 2030 Regular Interest O Uncertificated REMIC I 9.00% $33,548,430.00 January 25, 2030 Regular Interest P Uncertificated REMIC I 9.00% $36,500,000.00 January 25, 2030 Regular Interest Q Uncertificated REMIC I 0.00% $2,741,660.00 January 25, 2030 Regular Interest S Uncertificated REMIC I 9.00% $100.00 January 25, 2030 Regular Interest T Uncertificated REMIC I 9.00% $9,434,000.00 January 25, 2030 Regular Interest U Uncertificated REMIC I 9.00% $4,027,000.00 January 25, 2030 Regular Interest W REMIC I Regular Interest (the “Corresponding X 9.00% $1,725,000.00 January 25, 2030 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest Y 9.00% $3,222,457.00 January 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2030 REMIC I IO Regular Interests(1Interest Variable(2) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[(3) January 25, 2030 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp Mortgage Pass THR Cer Ser 1999-2)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. DESIGNATION Uncertificated Initial Uncertificated Latest REMIC I Pass- Principal Balance Possible Maturity(1) Through Rate REMIC I Regular Interest (the “Corresponding W 4.00% $177,696,000.00 June 25, 2003 REMIC I Regular Interest”) [and the Corresponding Components of the Class Interest X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt8.00% $106,617,000.00 June 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2003 REMIC I Regular Interests(1) Interest Y 5.50% $125,892,250.56 June 25, 2003 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Z 0.00% $771,718.60 June 25, 2003 REMIC I IO Regular Interests (2) $[_________] XA-FL(3) June 25, 2003 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends Company is the owner of the Underlying Agency Securities being conveyed by it to sell the Trustee for inclusion in the Trust Fund and has duly authorized the execution and delivery of this Agreement to provide for the sale and conveyance to the Trustee of the Underlying Agency Securities and the issuance of the Mortgage Pass-Through Certificates, to be issued hereunder in multiple ClassesSeries [200 - ], which Class [A-1], Class [A-2], Class [A-3], Class [S], and Class R (collectively, the "Certificates"), representing in the aggregate will evidence all of the entire beneficial ownership interest "regular interests" and "residual interests" in the Trust to be created hereunderFund, which Certificates are issuable as provided in this Agreement. As provided hereinAll covenants and agreements made by the Company, the Certificate Administrator and the Trustee will elect that two segregated pools of assets within herein are for the Trust Fund (exclusive benefit of the Class A-FL Regular InterestHolders of the Certificates. The Company and the Certificate Administrator are entering into this Agreement, and the Trustee is accepting the trusts created hereby, for good and valuable consideration, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest receipt and the Excess Interest Distribution Account) be treated for federal income tax purposes sufficiency of which are hereby acknowledged. The Underlying Agency Securities are [GNMA] [I] [II] Certificates and are identified as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)[_________]. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting The Aggregate Underlying Certificate Balance as of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool Closing Date will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[__________]. The following table sets forth the designation, Pass-Through Rate, aggregate Initial Certificate Principal Balance, features, Maturity Date and initial rating for each Class of Certificates comprising the interests in the Trust Fund created hereunder. Aggregate Pass-Through Initial Principal Maturity Designation Rate Balance Features Date Initial Rating ----------- ---- ------- -------- ---- -------------- [S&P] XA [Fitch] [Moody's] ----- ------- --------- Class B LB [A-1] [____]% $[______] Sequential Class [A-3] [___] XB Class C LC _]% $[______] Sequential/ Accrual Class [S] [___] XC Class A-FL Regular Interest LA-FL(2) _]% $[______] Fixed Strip Class R [____]% $[______] XA-FLResidual In consideration of the premises and the mutual agreements herein contained, the Company, the Certificate Administrator and the Trustee agree as follows:
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular Interest, Mortgage Loans but excluding the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Rounding Account and the Excess Interest Distribution AccountReserve Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC Regular I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC I Regular Interests Z. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. AGGREGATE INITIAL CERTIFICATE PASS-THROUGH PRINCIPAL MATURITY S&P/ Minimum DESIGNATION RATE BALANCE FEATURES(1) DATE MOODY'S DENOMINATIONS(2) Super Senior/Fixed Class A-1 5.50% $74,000,000.00 Rate November 25, 2035 AAA/AAa $100,000.00 Senior/Retail/Lottery/November 25, 2035 Class A-2 5.85% $30,000,000.00 Insured/Fixed Rate AAA/AAa $1,000.00 Senior/ November 25, 2035 Class A-3 0.00% $2,290,910.00 Principal Only AAA/AAa $100,000.00 5.50% Super Senior/ November 25, 2035 Class A-4 $20,500,000.00 Lockout/Fixed Rate AAA/AAa $100,000.00 Class A-5 5.50% $117,284,000.00 Senior/Fixed Rate November 25, 2035 AAA/AAa $100,000.00 5.50% Super Senior/ November 25, 2035 Class A-6 $27,300,000.00 Lockout/Fixed Rate AAA/AAa $100,000.00 5.50% Senior Support/ November 25, 2035 Class A-7 $3,591,000.00 Lockout/Fixed Rate AAA/AAa $100,000.00 5.50% Senior/Retail/Fixed November 25, 2035 Class A-8 $20,306,490.00 Rate AAA/AAa $1,000.00 Senior November 25, 2035 Support/Lockout/Fixed Class A-9 5.50% 3,057,600.00 Rate AAA/AAa $100,000.00 Senior/Principal November 25, 2035 Class A-FL CertificatesP 0.00% $1,547,234.20 Only AAA/AAa $100,000.00 Variable Senior/Interest November 25, “Corresponding Certificates” shall mean the 2035 Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2V Rate(3) $[_________] XA0.00 Only/Variable Rate AAA/AAa $2,000,000.00 5.50% Senior/Residual/ November 25, 2035 Class R-FLI $100.00 Fixed Rate AAA/AAa (4) 5.50% Senior/Residual/Fixed November 25, 2035 Class R-II $100.00 Rate (4) Class M-1 5.50% $6,234,900.00 Mezzanine/Fixed Rate November 25, 2035 AA/NA $100,000.00 Class M-2 5.50% $2,182,100.00 Mezzanine/Fixed Rate November 25, 2035 A/NA $250,000.00 Class M-3 5.50% $1,091,000.00 Mezzanine/Fixed Rate November 25, 2035 BBB/NA $250,000.00 5.50% Subordinate/Fixed November 25, 2035 Class B-1 $935,200.00 Rate BB/NA $250,000.00 5.50% Subordinate/Fixed November 25, 2035 Class B-2 $779,300.00 Rate B/NA $250,000.00 5.50% Subordinate/Fixed November 25, 2035 Class B-3 $623,461.08 Rate NA/NA $250,000.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-S7 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate Depositor will evidence the entire beneficial ownership interest in convey the Trust Estate to be created hereunderthe Trustee and create the Trust. As provided herein, the Trustee Certificate Administrator, on behalf of the Trustee, will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Estate (exclusive of including the Class A-FL Regular InterestMortgage Loans), the Class A-FL Swap Contractand subject to this Agreement, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a “REMIC”) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as the “REMIC I”. The REMIC Lower-Tier REMIC.” Component I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and of the Class R1-I A-R Certificates constitute will represent ownership of the sole Class class of “residual interests” in the Lower-Tier REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the Class or Component designation, Uncertificated Pass-Through Rate and initial Uncertificated Principal Balance for each of the corresponding “regular interests” in the Lower-Tier REMIC I Regular Interest (the “Corresponding REMIC I Uncertificated Lower-Tier Regular InterestInterests”) [and the Corresponding Components designation, Pass-Through Rate and initial Class Certificate Balance of Component I of the Class X 1-A-R Certificates] . None of the Uncertificated Lower-Tier Regular Interests will be certificated. Solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each Class of the REMIC II Uncertificated Lower-Tier Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case Interests and Component I of the Class 1-A-FL Certificates, “Corresponding Certificates” R Certificates shall mean be the Class AREMIC Certificate Maturity Date. Designation Uncertificated Pass-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1Through Rate (or Pass-Through Rate) REMIC I Initial Uncertificated Principal Balance [Corresponding Components of (or Initial Class X Certificates(1)] Class A LA Certificate Balance) Y-1 Variable(1) $[_________] XA Class B LB _ Y-2 Variable(1) $[_________] XB Class C LC _ Y-3 Variable(1) $[_________] XC Class A-FL Regular Interest LA-FL(2_ Y-4 Variable(1) $[_________ Z-1 Variable(1) $_] XA________ Z-2 Variable(1) $_________ Z-3 Variable(1) $_________ Z-4 Variable(1) $_________ Component I of the Class 1-FLA-R Variable(2) $100.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, Series 2006-A)
PRELIMINARY STATEMENT. The Depositor Company intends to sell home equity loan pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee REMIC Administrator will elect make an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated Agreement, as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1, Class A-2, C▇▇▇▇ ▇-▇, ▇▇▇▇s A-4, Class A-5, Class A-6, Class A-7, Class A-L1, Class A-L2, Class IO, Class M-1, Class M-2 and Class B-1 Certificates will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. Aggregate Initial Certificate Pass-Through Principal Maturity Initial Ratings Designation Type Rate Balance Features Date S&P Fitch ----------- ---- ----- --------- -------- ------ ----- ----- Class A-1 Senior 6.88% $43,000,000.00 Senior May 25, 2027 AAA AAA Class A-2 Senior 6.56% $16,800,000.00 Senior May 25, 2027 AAA AAA Class A-3 Senior 6.51% $55,800,000.00 Senior May 25, 2027 AAA AAA Class A-4 Senior 6.50% $10,600,000.00 Senior May 25, 2027 AAA AAA Class A-5 Senior 6.67% $18,100,000.00 Senior May 25, 2027 AAA AAA Class A-6 Senior 6.76% $ 8,300,000.00 Senior May 25, 2027 AAA AAA Class A-7 Senior 7.00% $18,778,000.00 Super Senior May 25, 2027 AAA AAA Class A-FL CertificatesL1 Senior 6.73% $20,288,000.00 Senior/Lockout May 25, “Corresponding Certificates” shall mean the 2027 AAA AAA Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC L2 Senior 6.88% $ 1,220,000.00 Senior Support/Lockout May 25, 2027 AAA AAA Class IO Senior 8.00%(1) $ 0.00 Senior/Interest Only May 25, 2027 AAAr AAA Class M-1 Subordinate 7.01% $19,518,000.00 Subordinate May 25, 2027 AA AA Class M-2 Subordinate 7.17% $ 9,185,000.00 Subordinate May 25, 2027 A A Class B-1 Subordinate 7.50%(2) $ 8,037,000.00 Subordinate May 25, 2027 BBB BBB [TPW: NY01:613641.4] 16069-00420 10/29/97 10:50PM Class R-I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Subordinate N/A $ 0.00 Residual May 25, 2027 N/A N/A Class X Certificates(1)] Class R-II Subordinate N/A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class $ 573.80 Residual May 25, 2027 N/A N/A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities Ii Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund (exclusive of that is hereby conveyed to the Class A-FL Regular InterestTrustee in return for the Certificates. The Trust Fund, other than the Class A-FL Swap Contract, the Class A-FL Floating Rate Supplemental Loan Account and Capitalized Interest Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund other than the Supplemental Loan Account and such segregated asset pool the Capitalized Interest Account and will be designated evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR-SR Interest as “REMIC I”the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Subsidiary REMIC I Interests other than the SR-SR Interest. The Master REMIC will consist of the Subsidiary REMIC Regular Interests listed below under and will be evidenced by the heading “Corresponding REMIC I Regular Interests” constitute “Certificates (which will represent the "regular interests” " in REMIC I the Master REMIC) and the MR-R Interest as the single "residual interest" in the Master REMIC. The Class RA-I R Certificates constitute will represent beneficial ownership of the sole Class of “residual interests” in REMIC I created hereunder SR-SR Interest and the MR-R Interest. The "latest possible maturity date" for federal income tax purposes of all Regular Interests created hereby will be the REMIC ProvisionsLatest Possible Maturity Date. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components characteristics of the Class X Certificates] for , together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the REMIC II Regular Certificates Tax Matters Person Certificate may be issued in a different amount): ========================= ======================== ===================== ====================== ====================== Pass-Through Initial Class Rate Integral Multiples Class Designation Certificate Balance (the “Corresponding Certificates”per annum) Minimum Denomination in Excess of Minimum ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-1 $287,408,500.00 6.50% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-2 $1,000,000.00 6.25% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-3 $1,000,000.00 6.75% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-4 $1,500,000.00 6.00% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-5 $2,500,000.00 6.25% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-6 $1,250,000.00 7.00% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-7 $1,000,000.00 7.25% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-8 $1,500,000.00 6.25% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-9 $1,500,000.00 6.75% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-10 $4,057,000.00 6.50% $1,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-11 $37,839,500.00 (1) $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-12 (2) (for the avoidance of doubt, in the case of the 3) $25,000.00(4) $1,000.00(4) ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-13 $37,840,000.00 6.50% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class PO $2,604,633.00 (5) $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the R $100.00 6.75% $100.00 N/A ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of M $9,000,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class X Certificates(1)] B-1 $3,400,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A LA B-2 $[_________] XA 2,600,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class B LB B-3 $[_________] XB 1,400,000.00 6.75% $100,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class C LC B-4 $[_________] XC 1,400,000.00 6.75% $100,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Regular Interest LA-FL(2) B-5 $[_________] XA-FL1,200,266.91 6.75% $100,000.00 $1,000.00 ========================= ======================== ===================== ====================== ======================
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in a trust fund (the "Trust Fund") to be created hereunder. As provided herein, the Trustee primary assets of which will elect that two be the Mortgage Loans. An election will be made to treat the segregated pools pool of assets within consisting of the Trust Fund 11 Madison Avenue Loan and certain o▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ts subject to this Agreement (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Additional Interest and the Excess Interest Distribution Accountthereon) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as the "Loan REMIC." The Class R-I Certificates will represent the sole class of "residual interests" in the Loan REMIC for purposes of the REMIC Provisions under federal income tax law. The Loan REMIC Pooled Regular Interest and the Class MAD-NP Uncertificated Interest will be the "regular interests" in the Loan REMIC for purposes of the REMIC provisions, will not be certificated and will be held by the Lower-Tier REMIC. The ownership interest in the 11 Madison Avenue Loan, as two separate real estate mortgage investment conduits part of t▇▇ ▇▇▇▇ ▇▇▇▇▇ ▇▇▇ated to the 11 Madison Avenue Loan, will be split into a senior undivided ownership interest in the portion of the Loan REMIC related to the 11 Madison Avenue Loan (“the "11 Madi▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Component") and a subordinate undivided ownership interest in such portion of the Loan REMIC I” (the "11 Madison Avenue Non-Pooled Component" and, together with the 11 Madison Avenue Pooled Component, ▇▇▇ "▇▇▇▇ ▇▇▇▇▇▇▇nts"). The following table describes certain information regarding the 11 Madison Avenue Loan and “the 11 Ma▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇ Components: Component Corresponding Loan Balance/Original Loan 11 Madison Avenue REMIC II”, respectively)Regul▇▇ ▇▇▇▇▇▇▇ Class of Component REMIC Principal Amount Loan Remittance Rate* Interest Certificates ------------------------- ----------------------- ---------------------- ---------------------- ---------------------- 11 Madison Avenue Loan REMIC Pooled Pooled Component $82,000,000 5.4377% Regular Interest N/A Class MAD-NP 11 Madison Avenue Uncertificated Class Non-Pooled Component $13,555,556 5.4377% Interest MAD * Represents the Net Mortgage Rate at which interest will accrue on the 11 Madison Avenue Loan based on t▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇ days elapsed and a 360-day year. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the Majority Mortgage Loans (exclusive of Excess that portion of the interest payments thereon that constitutes Additional Interest) ), the Loan REMIC Pooled Regular Interest, the Class MAD-NP Uncertificated Interest and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC Class R-I Regular Interests listed below under Residual Interest will represent the heading “Corresponding REMIC I Regular Interests” constitute “regular sole class of "residual interests” " in REMIC I for purposes of the REMIC Provisions under federal income tax law and will be represented by the Class R-I Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II." The Class R-II Certificates constitute will evidence the sole Class class of “"residual interests” " in REMIC I created hereunder II for purposes of the REMIC ProvisionsProvisions under federal income tax law. For federal income tax purposes, each Class of the Regular Certificates (other than with respect to the right of the Class MAD Certificates to receive Additional Interest) will be designated as a separate "regular interest" in REMIC II for purposes of the REMIC Provisions under federal income tax law. The following table sets forth describes certain information regarding the Regular Certificates (other than the Class or Component designationIO Certificates), the corresponding REMIC I Regular Interest (the “"Corresponding REMIC I Regular Interest”") [and the Corresponding Components corresponding components of the Class X Certificates] IO Certificates (the "Corresponding Components") for each Class of the REMIC II Regular Sequential Pay Certificates or Class MAD Certificates, as applicable (the “"Corresponding Certificates”) (for the avoidance of doubt, in the case of the "). Original Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Original REMIC Corresponding Certificates Corresponding Principal REMIC I Regular Interests(1) I Principal REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] IO Certificates Balance Interests (1) Balance Pass-Through Rate Certificates (1) ----------------------- ---------------- ------------------- ---------------- --------------------- ------------------------ Class A LA A-1 $[_________] XA 50,000,000 LA-1 $50,000,000 (2) IO-A-1 Class A-2 $199,000,000 LA-2 $199,000,000 (2) IO-A-2 Class A-3 $82,000,000 LA-3 $82,000,000 (2) IO-A-3 Class A-4 $474,876,000 LA-4 $474,876,000 (2) IO-A-4 Class A-1A $115,031,000 LA-1A $115,031,000 (2) IO-A-1A Class B $25,248,000 LB $[_________] XB 25,248,000 (2) IO-B Class C $9,302,000 LC $[_________] XC 9,302,000 (2) IO-C Class AD $22,590,000 LD $22,590,000 (2) IO-FL Regular Interest LAD Class E $10,630,000 LE $10,630,000 (2) IO-FL(2E Class F $11,959,000 LF $11,959,000 (2) IO-F Class G $[_________] XA11,959,000 LG $11,959,000 (2) IO-FLG Class H $13,288,000 LH $13,288,000 (2) IO-H Class J $3,986,000 LJ $3,986,000 (2) IO-J Class K $2,657,000 LK $2,657,000 (2) IO-K Class L $5,315,000 LL $5,315,000 (2) IO-L Class M $3,986,000 LM $3,986,000 (2) IO-M Class N $2,657,000 LN $2,657,000 (2) IO-N Class O $2,657,000 LO $2,657,000 (2) IO-O Class P $15,955,508 LP $15,955,508 (2) IO-P Class MAD $13,555,555 LMAD $13,555,555 (3) N/A ------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wachovia Bank Commercial Mortgage Trust Series 2004-C12)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be Fund (as defined herein) created hereunder. As provided hereinThe Trust Fund will consist primarily of the Mortgage Loans, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular InterestCertificate Account, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Distribution Account and the Excess Interest Distribution Account) be treated for federal income tax purposes Pre-Funding Account (each, as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectivelydefined herein). As provided herein, the Trustee REMIC Administrator will elect make an election to treat the segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as defined herein), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under (as defined herein) will evidence the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will evidence the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance and, solely for purposes of satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest Interests (as defined herein). None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Uncertificated Initial REMIC I Regular Interests(1) REMIC I Uncertificated Latest Possible Designation Pass Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class AMaturity Date(1) ------------------------------------------------------------------------------------------------------------- I-FL Regular Interest LA-FL(2LT1 Variable(2) $[_________] XA416,499,902.00 May 15, ▇▇▇▇ ▇-FL▇▇▇ Variable(2) $3,315,000.00 May 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $340,000.00 May 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $201,870.00 May 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $201,870.00 May 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $4,441,258.00 May 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $100.00 May 15, 2030 ---------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (WMC Secured Assets Corp WMC Mort Pass THR Cert Ser 2000-A)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST -REMIC-I-PASS---------PRINCIPAL-BALANCE------POSSIBLE-MATURITY(1) DESIGNATION THROUGH RATE REMIC I Regular Interest (the “Corresponding 6.25% $ 190,813,528.00 September 25, 2032 V REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest 5.40% $ 37,709,000.00 September 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2032 W REMIC I Regular Interests(1) Interest 8.50% $ 29,801,000.00 September 25, 2032 X REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(25.55% $ 50,000,000.00 September 25, 2032 Y REMIC I Regular Interest 0% $ 1,794,659.36 September 25, 2032 Z REMIC I Variable (2) $[_________] XA-FLN/A(3) September 25, 2032 IO Regular Interests -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate Depositor will evidence the entire beneficial ownership interest in convey the Trust Estate to be created hereunderthe Trustee and create the Trust. Lower-Tier REMIC As provided herein, the Trustee Certificate Administrator, on behalf of the Trustee, will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Estate (exclusive of including the Class A-FL Regular InterestMortgage Loans), the Class A-FL Swap Contractand subject to this Agreement, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. The REMIC the "Lower-Tier REMIC." Component I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and of the Class R1-I A-R Certificates constitute will represent ownership of the sole Class class of “"residual interests” " in the Lower-Tier REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the Class or Component designation, Uncertificated Pass-Through Rate and initial Uncertificated Principal Balance for each of the corresponding "regular interests" in the Lower-Tier REMIC I Regular Interest (the “Corresponding REMIC I "Uncertificated Lower-Tier Regular Interest”Interests") [and the Corresponding Components designation, Pass-Through Rate and initial Class Certificate Balance of Component I of the Class X 1-A-R Certificates] . None of the Uncertificated Lower-Tier Regular Interests will be certificated. Solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each Class of the REMIC II Uncertificated Lower-Tier Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case Interests and Component I of the Class 1-A-FL Certificates, “Corresponding Certificates” R Certificates shall mean be the REMIC Certificate Maturity Date. ----------------------------------------------------------------------------- Designation Uncertificated Initial Uncertificated Pass-Through Rate (or Principal Balance (or Initial Pass-Through Rate) Class Certificate Balance) ----------------------------------------------------------------------------- Y-1 Variable(1) $57,266.24 ----------------------------------------------------------------------------- Y-2 Variable(1) $93,786.88 ----------------------------------------------------------------------------- Y-3 Variable(1) $39,002.06 ----------------------------------------------------------------------------- Y-4 Variable(1) $34,208.52 ----------------------------------------------------------------------------- Z-1 Variable(1) $114,475,223.64 ----------------------------------------------------------------------------- Z-2 Variable(1) $187,479,978.83 ----------------------------------------------------------------------------- Z-3 Variable(1) $77,974,371.72 ----------------------------------------------------------------------------- Z-4 Variable(1) $68,390,956.03 ----------------------------------------------------------------------------- Component I of the Variable(2) $100.00 Class 1-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLR -----------------------------------------------------------------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wachovia Mortgage Loan Trust, LLC)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund (exclusive of that is hereby conveyed to the Class A-FL Regular InterestTrustee in return for the Certificates. The Trust Fund, other than the Class A-FL Swap Contract, the Class A-FL Floating Rate Supplemental Loan Account and Capitalized Interest Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund other than the Supplemental Loan Account and such segregated asset pool the Capitalized Interest Account and will be designated evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR-SR Interest as “REMIC I”the single "residual interest" in the Subsidiary REMIC. The Trustee will hold the Subsidiary REMIC I Interests other than the SR-SR Interest. The Master REMIC will consist of the Subsidiary REMIC Regular Interests listed below under and will be evidenced by the heading “Corresponding REMIC I Regular Interests” constitute “Certificates (which will represent the "regular interests” " in REMIC I the Master REMIC) and the MR-R Interest as the single "residual interest" in the Master REMIC. The Class RA-I R Certificates constitute will represent beneficial ownership of the sole Class of “residual interests” in REMIC I created hereunder SR-SR Interest and the MR-R Interest. The "latest possible maturity date" for federal income tax purposes of all Regular Interests created hereby will be the REMIC ProvisionsLatest Possible Maturity Date. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components characteristics of the Class X Certificates] for , together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the REMIC II Regular Certificates Tax Matters Person Certificate may be issued in a different amount): ============================================================================================= Initial Class Integral Certificate Pass-Through Minimum Multiples in Class Designation Balance Rate Denomination Excess of Minimum --------------------------------------------------------------------------------------------- Class A-1 $28,508,500.00 (the “Corresponding Certificates”2) $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-2 (1) (for the avoidance of doubt, in the case of the 3) $25,000.00(7) $1,000.00(7) --------------------------------------------------------------------------------------------- Class A-3 $32,731,500.00 (5) $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-4 (4) (6) $25,000.00(7) $1,000.00(7) --------------------------------------------------------------------------------------------- Class A-5 $50,000,000.00 6.50% $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-6 $37,545,000.00 6.50% $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-7 $130,926,000.00 6.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-8 $5,374,000.00 6.50% $1,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class PO $663,905.00 (8) $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the R $100.00 6.75% $100.00 N/A --------------------------------------------------------------------------------------------- Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of M $6,000,000.00 6.75% $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class X Certificates(1)] B-1 $3,000,000.00 6.75% $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A LA B-2 $[_________] XA 2,250,000.00 6.75% $25,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class B LB B-3 $[_________] XB 1,050,000.00 6.75% $100,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class C LC B-4 $[_________] XC 900,000.00 6.75% $100,000.00 $1,000.00 --------------------------------------------------------------------------------------------- Class A-FL Regular Interest LA-FL(2) B-5 $[_________] XA-FL1,050,995.00 6.75% $100,000.00 $1,000.00 ============================================================================================= ------------------------------------------
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Yield Maintenance Agreement and any payments thereunder and the Excess Interest Distribution AccountReserve Fund and any payments therefrom), as a real estate mortgage investment conduit (the "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC II Regular Interests Z. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. AGGREGATE INITIAL CERTIFICATE MOODY'S/ DESIGNATION ▇▇▇▇ BALANCE FEATURES(1) DATE POOR'S/FITCH DENOMINATIONS(2) Class A-1 (3) Variable $183,945,000 Super Senior/TAC/Accretion January 2037 Aaa/AAA/AAA $100,000.00 Rate Directed/Floater/Adjustable Rate Class A-2(3) Variable Notional Senior/Inverse Floater/ January 2037 Aaa/NA/AAA $1,000,000.00 Rate Interest Only/Adjustable Rate Class A-3 6.00% $1,000 Senior/Accrual/Accretion January 2037 Aaa/NA/AAA $1,000 Directed/Companion/Fixed Rate Class A-4 6.00% $15,000,000 Senior/Lockout/Fixed Rate January 2037 Aaa/AAA/AAA $100,000.00 Class A-5 6.00% $135,500,000 Super Senior/PAC/Fixed Rate January 2037 Aaa/NA/AAA $100,000.00 Class A-6 6.00% $2,890,000 Senior Support/PAC/Fixed Rate January 2037 Aa1/NA/AAA $100,000.00 Class A-7 6.00% $82,000,000 Senior/Lockout/Fixed Rate January 2037 Aaa/NA/AAA $100,000.00 Class A-8 6.00% $6,900,000 Senior Support/Lockout/Fixed Rate January 2037 Aa1/NA/AAA $100,000.00 Class A-9 6.00% $4,436,000 Senior/Retail/Fixed Rate January 2037 Aaa/NA/AAA $1,000 Class A-10 6.00% $25,000,000 Super Senior/PAC/Fixed Rate January 2037 Aaa/NA/AAA $100,000.00 Class A-11 6.00% $2,000,000 Super Senior/Senior January 2037 $100,000.00 Support/PAC/Fixed Rate Aa1/NA/AAA Class A-12 6.00% $25,000,000 Super Senior/PAC/Fixed Rate January 2037 Aaa/NA/AAA $100,000.00 Class A-13 6.00% $1,565,625 Senior Support/PAC/Fixed Rate January 2037 Aa1/NA/AAA $100,000.00 Class A-14 6.00% $5,423,510 Senior/PAC/Fixed Rate January 2037 Aaa/AAA/AAA $100,000.00 Class A-15 6.00% $7,500,000 Senior/PAC/Fixed Rate January 2037 Aaa/NA/AAA $100,000.00 Class A-16 6.00% $3,310,865 Senior Support/PAC/Fixed Rate January 2037 Aa1/NA/AAA $100,000.00 Class A-17 6.00% $1,000 Senior/Accrual/Companion/Fixed January 2037 $1,000 Rate Aaa/NA/AAA Class A-FL Certificates, “Corresponding Certificates” shall mean the P 0.00% $2,458,385 Senior/Principal Only January 2037 Aaa/NA/AAA $100,000.00 Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC V Variable Notional Senior/Interest Only/Variable Rate January 2037 Aaa/NA/AAA $2,000,000.00 Rate Class R-I Regular Interests(16.00% $100.00 Senior/Residual/Fixed Rate January 2037 Aaa/NA/AAA (4) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] R-II 6.00% $100.00 Senior/Residual/Fixed Rate January 2037 Aaa/NA/AAA (4) Class M-1 6.00% $11,234,500 Mezzanine/Fixed Rate January 2037 NA/NA/AA $100,000.00 Class M-2 6.00% $3,135,200 Mezzanine/Fixed Rate January 2037 NA/NA/A LA $[250,000.00 Class M-3 6.00% $2,090,100 Mezzanine/Fixed Rate January 2037 NA/NA/BBB $250,000.00 Class B-1 6.00% $1,045,000 Subordinate/Fixed Rate January 2037 NA/NA/BB $250,000.00 Class B-2 6.00% $1,045,100 Subordinate/Fixed Rate January 2037 NA/NA/B $250,000.00 Class B-3 6.00% $1,045,088 Subordinate/Fixed Rate January 2037 NA/NA/NA $250,000.00 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2007-S1 Trust)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1Interests will be certificated. DESIGNATION Uncertificated Initial Uncertificated Latest(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class APossible Maturity Pass-FL Through Rate REMIC I Regular Interest LA-FL(2T 5.25% $ 10,000,000.00 December 25, 2017 REMIC I Regular Interest U 4.40% $ 77,722,000.00 December 25, 2017 REMIC I Regular Interest V 8.50% $ 20,903,000.00 December 25, 2017 REMIC I Regular Interest W 5.25% $ 32,250,932.59 December 25, 2017 REMIC I Regular Interest X 5.25% $ 28,800,000.00 December 25, 2017 REMIC I Regular Interest Y 5.00% $ 7,500,000.00 December 25, 2017 REMIC I Regular Interest Z 0.00% $ 161,133.06 December 25, 2017 REMIC I IO Regular InteresVariable (2) $[_________] XA-FLN/A(3) December 25, 2017 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class III-A-1 Certificates, Class III-A-2 Certificates, Class III-A-3 Certificates, Class IV-A Certificates, Class V-A Certificates, Class VI-A-1 Certificates, Class VI-A-2 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class M-4 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates, will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”Interests will be certificated. INITIAL UNCERTIFICATED UNCERTIFICATED REMIC I -------------------- LATEST DESIGNATION PASS-THROUGH RATE PRINCIPAL BALANCE POSSIBLE MATURITY(1) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Uncertificated REMIC I Regular Interests(1Variable(2) $ 278.60 June 25, 2035 Interest I-A Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class Regular Variable(2) $ 6,330.60 June 25, 2035 Interest I-B Uncertificated REMIC I Regular Variable(2) $ 823.09 June 25, 2035 Interest II-A LA $[_________] XA Class Uncertificated REMIC I Regular Variable(2) $ 18,696.09 June 25, 2035 Interest II-B LB $[_________] XB Class C LC $[_________] XC Class AUncertificated REMIC I Regular Variable(2) $ 440.39 June 25, 2035 Interest III-FL A Uncertificated REMIC I Regular Variable(2) $ 10,018.39 June 25, 2035 Interest LAIII-FL(2B Uncertificated REMIC I Regular Variable(2) $ 155.29 June 25, 2035 Interest IV-A Uncertificated REMIC I Regular Variable(2) $ 3,531.31 June 25, 2035 Interest IV-B Uncertificated REMIC I Regular Variable(2) $ 228.74 June 25, 2035 Interest V-A Uncertificated REMIC I Regular Variable(2) $ 5,195.74 June 25, 2035 Interest V-B Uncertificated REMIC I Regular Variable(2) $ 277.30 June 25, 2035 Interest VI-A Uncertificated REMIC I Regular Variable(2) $ 6,304.80 June 25, 2035 Interest VI-B Uncertificated REMIC I Regular Variable(2) $[_________] XA500,716,936.66 June 25, 2035 Interest ZZZ Uncertificated REMIC I Regular Variable(2) $ 100.00 June 25, 2035 Interest R-FLII
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-Sa2 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund, the assets of which will consist primarily of the Mortgage Loans. As provided herein, the Trustee Master Servicer will elect that two segregated pools of make an election to treat the assets within the Trust Fund (exclusive consisting of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Group I Loans and the Excess Interest Distribution Account) be treated certain other related assets described herein as a "real estate mortgage investment conduit" for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated such pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” interest" in REMIC I created hereunder for federal income tax purposes. As provided herein, the Master Servicer will make an election to treat the assets consisting of the Group II Loans and certain other related assets described herein as a "real estate mortgage investment conduit" for federal income tax purposes and such pool of assets will be designated as "REMIC II." The REMIC II Regular Interests will be the "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interest" in REMIC II for federal income tax purposes. The Master Servicer will make an election to treat the pool of assets consisting of the REMIC ProvisionsI Regular Interests and the REMIC II Regular Interests as a "real estate mortgage investment conduit" for federal income tax purposes and such pool of assets will be designated as "REMIC III." The Class A, Class X, Class PO, Class M and Class B Certificates will represent "regular interests" in REMIC III and the Class R-III Certificate will represent the sole class of "residual interest" in REMIC III for federal income tax purposes. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, initial Pass-Through Rate, aggregate Initial Certificate Principal Balance, Last Scheduled Distribution Date and the Corresponding Components of the Class X Certificates] initial ratings for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLTrust Fund created hereunder.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ba Mortgage Securities Inc Mort Ps THR Cert Ser 1998-4)
PRELIMINARY STATEMENT. The Depositor Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesseventeen classes (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Fund (as defined herein), consisting primarily of the Mortgage Loans, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class APre-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Funding Accounts and the Excess Interest Distribution Account) be treated for federal income tax purposes Coverage Accounts (each, as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectivelydefined herein). As provided herein, the Trustee will elect make an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interestas defined herein) and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans but excluding the Pre-Funding Accounts and the Interest Coverage Accounts) as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “(as defined herein) will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. The Class R-I Certificates will be the sole class of "residual interests" in REMIC I for purposes of the REMIC Provisions (as described herein) for federal income tax purposes. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Remittance Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC I Regular Interest (Interests. None of the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. REMIC I Regular Interests(1Initial Latest Possible Designation Remittance Rate Uncertificated Balance Maturity Date(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class ----------- --------------- ---------------------- ---------------- LT-AY Variable(2) $ 262,350,000.00 A▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇-FL Regular Interest LA▇▇ Variable(2) $ 29,150,000.00 August 25, 2027 LT-FL(2FY Variable(2) $[_________] XA$ 75,150,000.00 August 25, 2027 LT-FLFZ Variable(2) $ 8,350,000.00 August 25, 2027 -----------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificatesmortgage pass-through certificates, to be issued hereunder in multiple Classesclasses (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in the Trust a trust fund to be created hereunder. As provided herein, the Trustee primary assets of which will elect that two segregated pools of assets within be the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)Mortgage Loans. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the Trust Mortgage Loans (exclusive of the Broker Strip, the Excess Servicing Strip and that portion of the interest payments on the Trust Mortgage Loans that constitutes Additional Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC Class R-I Regular Interests listed below under Residual Interest will represent the heading “Corresponding REMIC I Regular Interests” constitute “regular sole class of "residual interests” " in REMIC I for purposes of the REMIC Provisions under federal income tax law, and will be represented by the Class R-I Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II". The Class R-II Certificates constitute will evidence the sole Class class of “"residual interests” " in REMIC I created hereunder II for purposes of the REMIC ProvisionsProvisions under federal income tax law. For federal income tax purposes, each Class of the Regular Certificates will be designated as a separate "regular interest" in REMIC II for purposes of the REMIC Provisions under federal income tax law. The following table sets forth forth: (i) the class designation of each Class or Component designation, of Sequential Pay Certificates; (ii) the Original Class Principal Balance for each Class of Sequential Pay Certificates; (iii) the corresponding REMIC I Regular Interest or REMIC I Regular Interests (the “each, a "Corresponding REMIC I Regular Interest”") [for each Class of Sequential Pay Certificates; (iv) the REMIC I Principal Balance of each Corresponding REMIC I Regular Interest; and (v) the corresponding component or components (each, a "Corresponding Components Component") of the Class X Certificates] Certificates for each Class of the Sequential Pay Certificates. ------------------------------------------------------------------------------------------------------------------------------ Corresponding Class of Corresponding Component of Sequential Pay Original Class REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of I REMIC I the Class AX Certificates Principal Balance Regular Interest Principal Balance Certificates ------------ ----------------- ---------------- ----------------- ------------ ------------------------------------------------------------------------------------------------------------------------------ Class A-1 $ 52,161,616 LA-1-FL Certificates, “1 $ 2,544,616 X-A-1-1 ------------------------------------------------------------------------------------------------------------------------------ LA-1-2 $ 3,290,000 X-A-1-2 ------------------------------------------------------------------------------------------------------------------------------ LA-1-3 $ 17,261,000 X-A-1-3 ------------------------------------------------------------------------------------------------------------------------------ ------------------------------------------------------------------------------------------------------------------------------ Corresponding Certificates” shall mean Class of Corresponding Component of Sequential Pay Original Class REMIC I REMIC I the Class AX Certificates Principal Balance Regular Interest Principal Balance Certificates ------------ ----------------- ---------------- ----------------- ------------ ------------------------------------------------------------------------------------------------------------------------------ LA-1-FL Regular Interest): 4 $ 29,066,000 X-A-1-4 ------------------------------------------------------------------------------------------------------------------------------ Class A-2 $ 379,800,000 LA-2-1 $ 2,318,000 X-A-2-1 ------------------------------------------------------------------------------------------------------------------------------ LA-2-2 $ 18,687,000 X-A-2-2 ------------------------------------------------------------------------------------------------------------------------------ LA-2-3 $ 18,303,000 X-A-2-3 ------------------------------------------------------------------------------------------------------------------------------ LA-2-4 $ 17,493,000 X-A-2-4 ------------------------------------------------------------------------------------------------------------------------------ LA-2-5 $ 16,989,000 X-A-2-5 ------------------------------------------------------------------------------------------------------------------------------ LA-2-6 $ 206,495,000 X-A-2-6 ------------------------------------------------------------------------------------------------------------------------------ LA-2-7 $ 50,392,000 X-A-2-7 ------------------------------------------------------------------------------------------------------------------------------ LA-2-8 $ 10,754,000 X-A-2-8 ------------------------------------------------------------------------------------------------------------------------------ LA-2-9 $ 12,603,000 X-A-2-9 ------------------------------------------------------------------------------------------------------------------------------ LA-2-10 $ 25,766,000 X-A-2-10 ------------------------------------------------------------------------------------------------------------------------------ Class A-3 $ 65,000,000 LA-3-1 $ 24,470,000 X-A-3-1 ------------------------------------------------------------------------------------------------------------------------------ LA-3-2 $ 40,530,000 X-A-3-2 ------------------------------------------------------------------------------------------------------------------------------ Class A-4 $ 169,657,000 LA-4-1 $ 4,824,000 X-A-4-1 ------------------------------------------------------------------------------------------------------------------------------ LA-4-2 $ 7,710,000 X-A-4-2 ------------------------------------------------------------------------------------------------------------------------------ LA-4-3 $ 157,123,000 X-A-4-3 ------------------------------------------------------------------------------------------------------------------------------ Class A-1A(1) $ 163,804,000 LA-1A-1 $ 616,000 X-A-1A-1 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-2 $ 785,000 X-A-1A-2 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-3 $ 3,531,000 X-A-1A-3 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-4 $ 4,014,000 X-A-1A-4 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-5 $ 3,959,000 X-A-1A-5 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-6 $ 3,892,000 X-A-1A-6 ------------------------------------------------------------------------------------------------------------------------------ -2- ------------------------------------------------------------------------------------------------------------------------------ Corresponding Certificates Class of Corresponding Component of Sequential Pay Original Class REMIC I Regular Interests(1) REMIC I the Class X Certificates Principal Balance [Regular Interest Principal Balance Certificates ------------ ----------------- ---------------- ----------------- ------------ ------------------------------------------------------------------------------------------------------------------------------ LA-1A-7 $ 3,809,000 X-A-1A-7 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-8 $ 3,698,000 X-A-1A-8 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-9 $ 3,593,000 X-A-1A-9 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-10 $ 30,134,000 X-A-1A-10 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-11 $ 2,621,000 X-A-1A-11 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-12 $ 10,118,000 X-A-1A-12 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-13 $ 2,253,000 X-A-1A-13 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-14 $ 21,449,000 X-A-1A-14 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-15 $ 1,566,000 X-A-1A-15 ------------------------------------------------------------------------------------------------------------------------------ LA-1A-16 $ 67,766,000 X-A-1A-16 ------------------------------------------------------------------------------------------------------------------------------ Class B $ 26,946,000 LB $ 26,946,000 X-B ------------------------------------------------------------------------------------------------------------------------------ Class C $ 11,023,000 LC $ 11,023,000 X-C ------------------------------------------------------------------------------------------------------------------------------ Class D $ 25,721,000 LD-1 $ 2,500,000 X-D-1 ------------------------------------------------------------------------------------------------------------------------------ LD-2 $ 3,208,000 X-D-2 ------------------------------------------------------------------------------------------------------------------------------ LD-3 $ 20,013,000 X-D-3 ------------------------------------------------------------------------------------------------------------------------------ Class E $ 11,024,000 LE-1 $ 146,000 X-E-1 ------------------------------------------------------------------------------------------------------------------------------ LE-2 $ 4,862,000 X-E-2 ------------------------------------------------------------------------------------------------------------------------------ LE-3 $ 4,588,000 X-E-3 ------------------------------------------------------------------------------------------------------------------------------ LE-4 $ 1,428,000 X-E-4 ------------------------------------------------------------------------------------------------------------------------------ Class F $ 13,473,000 LF-1 $ 2,548,000 X-F-1 ------------------------------------------------------------------------------------------------------------------------------ LF-2 $ 5,998,000 X-F-2 ------------------------------------------------------------------------------------------------------------------------------ LF-3 $ 4,927,000 X-F-3 ------------------------------------------------------------------------------------------------------------------------------ -3- ------------------------------------------------------------------------------------------------------------------------------ Corresponding Components Class of Corresponding Component of Sequential Pay Original Class REMIC I REMIC I the Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Certificates Principal Balance Regular Interest LAPrincipal Balance Certificates ------------ ----------------- ---------------- ----------------- ------------ ------------------------------------------------------------------------------------------------------------------------------ Class G $ 12,248,000 LG-1 $ 6,683,000 X-FL(2) $[_________] XAG-1 ------------------------------------------------------------------------------------------------------------------------------ LG-2 $ 5,565,000 X-FLG-2 ------------------------------------------------------------------------------------------------------------------------------ Class H $ 11,023,000 LH-1 $ 91,000 X-H-1 ------------------------------------------------------------------------------------------------------------------------------ LH-2 $ 8,968,000 X-H-2 ------------------------------------------------------------------------------------------------------------------------------ LH-3 $ 1,964,000 X-H-3 ------------------------------------------------------------------------------------------------------------------------------ Class J $ 3,675,000 LJ $ 3,675,000 X-J ------------------------------------------------------------------------------------------------------------------------------ Class K $ 4,899,000 LK $ 4,899,000 X-K ------------------------------------------------------------------------------------------------------------------------------ Class L $ 4,899,000 LL-1 $ 4,132,000 X-L-1 ------------------------------------------------------------------------------------------------------------------------------ LL-2 $ 767,000 X-L-2 ------------------------------------------------------------------------------------------------------------------------------ Class M $ 4,899,000 LM $ 4,899,000 X-M ------------------------------------------------------------------------------------------------------------------------------ Class N $ 2,450,000 LN $ 2,450,000 X-N ------------------------------------------------------------------------------------------------------------------------------ Class P $ 3,674,000 LP $ 3,674,000 X-P ------------------------------------------------------------------------------------------------------------------------------ Class Q $ 13,473,705 LQ $ 13,473,705 X-Q ------------------------------------------------------------------------------------------------------------------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Rounding Account, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Reserve Fund and the Excess Interest Distribution AccountInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-3A Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. DESIGNATION Uncertificated REMIInitial Uncertificated Latest I Pass-Through Rate Principal Balance Possible Maturity(1) REMIC I Regular Interest (the “Corresponding T$ 122,060,928.13 5.75% March 25, 2033 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest $ 18,181,818.00 8.50% March 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2033 REMIC I Regular Interests(1) Interest $ 40,000,000.00 4.50% March 25, 2033 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[Regular Interest $ 74,799,662.00 8.00% March 25, 2033 REMIC I Regular Interest X$ 138,299,238.00 4.5330790651% March 25, 2033 REMIC I Regular Interest $ 16,975,000.00 5.75% March 25, 2033 REMIC I Regular Interest$Z 2,504,595.10 0.00% March 25, 2033 REMIC I (2) (3) March 25, 2033 IO Regular Interests _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee REMIC Administrator will elect make an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisionsprovisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II", and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Clas▇ ▇-▇, ▇▇▇▇▇ A-8, Class A-9, Class M-1, Class M-2, Class M-3, Class B-1, Cl▇▇▇ ▇-▇ ▇▇▇ ▇lass B-3 Certificates and the Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The Class A-10 Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC II Regular Interests. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates issued on the REMIC II Regular Certificates (Closing Date comprising the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLTrust Fund created hereunder.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Uncertificated REMIC II Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC II Regular Interests will be designated as "REMIC III" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A Certificates, Class I-X Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class III-A-1 Certificates, Class III-A-2 Certificates, Class IV-A-1 Certificates, Class IV-A-2 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates, will be "regular interests" in REMIC III and the Class R-III Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of this Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Initial Uncertificated REMIC Uncertificated Latest Designation I Pass-Through Rate Principal Balance Possible Maturity(1) --------------------------------------------- -------------------- ----------------- -------------------- Uncertificated REMIC I Regular Interest (the “Corresponding I-A Variable(2) $350.59 August 25, 2036 Uncertificated REMIC I Regular Interest”Interest I-B Variable(2) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt$8,248.49 August 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2036 Uncertificated REMIC I Regular Interests(1Interest II-A Variable(2) $2,029.96 August 25, 2036 Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LAII-FL(2B Variable(2) $[_________] XA47,762.16 August 25, 2036 Uncertificated REMIC I Regular Interest III-FLA Variable(2) $512.06 August 25, 2036 Uncertificated REMIC I Regular Interest III-B Variable(2) $12,048.56 August 25, 2036 Uncertificated REMIC I Regular Interest IV-A Variable(2) $470.58 August 25, 2036 Uncertificated REMIC I Regular Interest IV-B Variable(2) $11,071.98 August 25, 2036 Uncertificated REMIC I Regular Interest ZZZ Variable(2) $791,248,949.62 August 25, 2036 Uncertificated REMIC I Regular Interest R-II Variable(2) $100 August 25, 2036
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006- SA2 Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be each REMIC (as defined herein) created hereunder. As provided hereinThe Trust Fund will consist of a segregated pool of assets comprising of the Mortgage Loans, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class APre-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Funding Account and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” Coverage Account and “REMIC II”, respectively)certain other related assets subject to this Agreement. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets (other than the Master Servicer Prepayment Charge Payment Amount, the Pre-Funding Account and the Interest Coverage Account) subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Remittance Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the REMIC I Regular Interest Interests (as defined herein). None of the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Latest Possible REMIC I Regular Interests(1Initial Maturity Date (1) REMIC I Principal Remittance Rate Uncertificated Balance [Corresponding Components of Class X Certificates(1----------------- --------------- ---------------------- I-LT1 Variable(2) I-LT2 Variable(2) I-LT3 Variable(2) I-LT4 Variable(2) I-LT5 Variable(2) I-LT6 Variable(2) I-LT7 Variable(2) I-LTP (3)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Securities Corp)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5-1 Component, Class A-5-2 Component, Class A-5-3 Component, Class A-5-4 Component, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class AV REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC II Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class AInterests will be certificated. Uncertificated Initial Uncertificated Latest Designation Pass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[Possible Maturity(1) _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL________________________________________________________ Uncertificated REMIC I 7.75% $100,528,000.00 April 25, 2030 Regular Interest O Uncertificated REMIC I 7.75% $8,116,000.00 April 25, 2030 Regular Interest P Uncertificated REMIC I 7.75% $7,195,000.00 April 25, 2030 Regular Interest Q Uncertificated REMIC I 7.75% $38,350,000.00 April 25, 2030 Regular Interest S Uncertificated REMIC I 7.75% $84,062,000.00 April 25, 2030 Regular Interest T Uncertificated REMIC I 7.75% $4,188,313.00 April 25, 2030 Regular Interest U Uncertificated REMIC I 7.75% $7,425,687.00 April 25, 2030 Regular Interest W Uncertificated REMIC I 7.75% $10,507,405.27 April 25, 2030 Regular Interest X Uncertificated REMIC I 0% $2,290,363.34 April 25, 2030 Regular Interest Y Uncertificated REMIC I Variable (2) N/A(3) April 25, 2030 IO Regular Interests
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund (exclusive of that is hereby conveyed to the Class A-FL Regular InterestTrustee in return for the Certificates. The Trust Fund, other than the Class A-FL Swap Contract, the Class A-FL Floating Rate Supplemental Loan Account and Capitalized Interest Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund other than the Supplemental Loan Account and Capitalized Interest Account and will be evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR-SR Interest as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)the single "residual interest" in the Subsidiary REMIC. As provided herein, the The Trustee will elect to treat hold the segregated pool of assets consisting Subsidiary REMIC Interests other than the SR-SR Interest. The Master REMIC will consist of the Mortgage Loans Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates (exclusive of Excess Interestwhich will represent the "regular interests" in the Master REMIC) and certain other related assets subject to this Agreement shall be treated the MR-R Interest as a REMIC the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR-SR Interest and the MR-R Interest. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all Regular Interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsLatest Possible Maturity Date. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components characteristics of the Class X Certificates] for , together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the REMIC II Regular Certificates Tax Matters Person Certificate may be issued in a different amount): ================================================================================= Integral Initial Class Multiples Class Certificate Pass-Through Minimum in Excess of Designation Balance Rate Denomination Minimum --------------------------------------------------------------------------------- Class A-1 $35,000,000.00 7.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-2 $61,962,000.00 7.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-3 $28,000,000.00 6.50% $1,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-4 $47,186,588.00 (the “Corresponding Certificates”4) $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-5 $10,111,412.00 (5) $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-6 $69,985,039.00 6.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-7 $35,000,000.00 6.25% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-8 $64,156,692.00 (6) $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-9 N/A(1) (for the avoidance of doubt, in the case of the 7) $25,000.00(2) $1,000.00 --------------------------------------------------------------------------------- Class A-10 N/A(1) 0.50% $25,000.00(2) $1,000.00 --------------------------------------------------------------------------------- Class PO $1,023,169.00 (3) $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the R $100.00 7.00% $100.00 N/A --------------------------------------------------------------------------------- Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of M $7,770,000.00 7.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class X Certificates(1)] B-1 $3,515,000.00 7.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A LA B-2 $[_________] XA 2,775,000.00 7.00% $25,000.00 $1,000.00 --------------------------------------------------------------------------------- Class B LB B-3 $[_________] XB 1,665,000.00 7.00% $100,000.00 $1,000.00 --------------------------------------------------------------------------------- Class C LC B-4 $[_________] XC 740,000.00 7.00% $100,000.00 $1,000.00 --------------------------------------------------------------------------------- Class A-FL Regular Interest LA-FL(2) B-5 $[_________] XA-FL1,100,000.00 7.00% $100,000.00 $1,000.00 ================================================================================= ----------------------------
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund (exclusive of that is hereby conveyed to the Class A-FL Regular InterestTrustee in return for the Certificates. The Trust Fund, other than the Class A-FL Swap Contract, the Class A-FL Floating Rate Supplemental Loan Account and Capitalized Interest Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes will consist of two REMICs. The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund other than the Supplemental Loan Account and the Capitalized Interest Account and will be evidenced by the Subsidiary REMIC Regular Interests (which will be uncertificated and will represent the "regular interests" in the Subsidiary REMIC) and the SR-SR Interest as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)the single "residual interest" in the Subsidiary REMIC. As provided herein, the The Trustee will elect to treat hold the segregated pool of assets consisting Subsidiary REMIC Interests other than the SR-SR Interest. The Master REMIC will consist of the Mortgage Loans Subsidiary REMIC Regular Interests and will be evidenced by the Regular Certificates (exclusive of Excess Interestwhich will represent the "regular interests" in the Master REMIC) and certain other related assets subject to this Agreement shall be treated the MR-R Interest as a REMIC the single "residual interest" in the Master REMIC. The Class A-R Certificates will represent beneficial ownership of the SR-SR Interest and the MR-R Interest. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all Regular Interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsLatest Possible Maturity Date. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components characteristics of the Class X Certificates] for , together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the REMIC II Regular Certificates Tax Matters Person Certificate may be issued in a different amount): ========================= ======================== ===================== ====================== ====================== Initial Class Pass-Through Minimum Integral Multiples Class Designation Certificate Balance Rate Denomination in Excess of Minimum ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-1 $121,201,500.00 5.50% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-2 $86,572,500.00 (the “Corresponding Certificates”5) $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-3 (1) (for the avoidance of doubt, in the case of the 6) $25,000.00(2) $1,000.00(2) ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-4 $88,249,000.00 6.43% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-5 (3) 6.75% $25,000.00(2) $1,000.00(2) ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-6 $21,661,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-7 $20,000,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-8 $40,000,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class PO $3,315,134.00 (4) $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the R $100.00 6.75% $100.00 N/A ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of M $8,400,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class X Certificates(1)] B-1 $3,800,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A LA B-2 $[_________] XA 3,000,000.00 6.75% $25,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class B LB B-3 $[_________] XB 1,800,000.00 6.75% $100,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class C LC B-4 $[_________] XC 800,000.00 6.75% $100,000.00 $1,000.00 ------------------------- ------------------------ --------------------- ---------------------- ---------------------- Class A-FL Regular Interest LA-FL(2) B-5 $[_________] XA-FL1,200,766.00 6.75% $100,000.00 $1,000.00 ========================= ======================== ===================== ====================== ====================== ------------------------------------------
Appears in 1 contract
PRELIMINARY STATEMENT. The Depositor intends to sell In exchange for the Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in Depositor hereby conveys the Trust Estate to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within to create the Trust. The Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated Estate for federal income tax purposes will be treated as two separate real estate mortgage investment conduits (“REMIC I” the "Upper-Tier REMIC" and “REMIC II”the "Lower-Tier REMIC," respectively, respectivelyand each, a "REMIC"). As provided hereinThe Class A Certificates (other than the Class 1-A-R, Class 1-A-LR and Class A-PO Certificates) and the Class B Certificates are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" in the Upper-Tier REMIC. The Class 1-A-PO Component, Class 2-A-PO Component, Class 1-A-SES Component and Class 2-A-SES Component (collectively, the Trustee will elect to treat "Components") shall also constitute "regular interests" in the segregated pool of assets consisting of Upper-Tier REMIC. The Uncertificated Lower-Tier Interests shall constitute the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement "regular interests" in the Lower-Tier REMIC. The Class 1-A-R Certificate shall be treated as a the "residual interest" in the Upper-Tier REMIC and the Class 1-A-LR Certificate shall be the "residual interest" in the Lower-Tier REMIC. The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes, and such segregated asset pool purposes of all interests created hereby will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsCertificate Maturity Date. The following table sets forth characteristics of the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Certificates and the Corresponding Components Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of the Class X Certificates] for Certificates shall be issuable (except that one Certificate of each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, may be issued in the case any amount in excess of the minimum denomination): Initial Class Certificate Integral Balance Pass- Multiples or Notional Through Minimum in Excess Classes Amount Rate Denomination of Minimum --------------------- --------------- ------- ------------ ---------- Class 1-A-1 $123,832,000.00 4.250% $1,000 $1 Class 1-A-2 $100,000,000.00 4.000% $1,000 $1 Class 1-A-3 $62,403,363.00 5.500% $1,000,000 $1 Class 1-A-4 $22,728,000.00 5.000% $1,000 $1 Class 1-A-5 $54,129,000.00 5.000% $1,000 $1 Class 1-A-6 $71,517,000.00 5.500% $1,000 $1 Class 1-A-7 $67,729,000.00 5.500% $1,000 $1 Class 1-A-8 $3,575,000.00 5.500% $1,000 $1 Class 1-A-9 $22,986,000.00 5.500% $1,000 $1 Class 1-A-10 $27,228,000.00 5.500% $1,000 $1 Class 1-A-11 $20,000,000.00 5.500% $1,000 $1 Class 1-A-12 $500,000.00 5.500% $1,000 $1 Class 1-A-13 $159,166,333.00 (1) $1,000 $1 Class 1-A-14 $57,878,667.00 (2) $1,000 $1 Class 1-A-R $50.00 5.500% $50 N/A Class 1-A-LR $50.00 5.500% $50 N/A Class 1-A-WIO $724,363,260.00 (3) $10,000,000 $1 Class 2-A-1 $78,169,687.00 (4) $1,000 $1 Class 2-A-2 $75,000,000.00 (4) $1,000 $1 Class 2-A-3 $91,901,813.00 (5) $1,000 $1 Class 2-A-4 $2,062,500.00 5.000% $1,000 $1 Class 2-A-WIO $247,552,674.00 (6) $10,000,000 $1 Class 1-B-1 $10,130,000.00 5.500% $25,000 $1 Class 1-B-2 $3,001,000.00 5.500% $25,000 $1 Class 1-B-3 $2,626,000.00 5.500% $25,000 $1 Class 1-B-4 $751,000.00 5.500% $25,000 $1 Class 1-B-5 $1,125,000.00 5.500% $25,000 $1 Class 1-B-6 $1,126,286.00 5.500% $25,000 $1 Class 2-B-1 $1,501,000.00 5.000% $25,000 $1 Class 2-B-2 $501,000.00 5.000% $25,000 $1 Class 2-B-3 $375,000.00 5.000% $25,000 $1 Class 2-B-4 $251,000.00 5.000% $25,000 $1 Class 2-B-5 $250,000.00 5.000% $25,000 $1 Class 2-B-6 $250,789.00 5.000% $25,000 $1 Class A-FL Certificates, “Corresponding Certificates” shall mean the PO (7) (7) $25,000 $1 Class SES (8) (8) $25,000 $1 Initial Component Integral Balance or Pass- Multiples Component Through Minimum In Excess Components Notional Amount Rate Denomination Of Minimum --------------------- --------------- ------- ------------ ---------- Class 1-A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1PO $337,157.00 (9) REMIC I Principal Balance [Corresponding Components of N/A N/A Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class 2-A-FL Regular Interest LAPO $12,607.00 (9) N/A N/A Class 1-FL(2) SES $[_________] XA750,365,543.00 0.200% N/A N/A Class 2-FLSES $250,275,397.00 0.200% N/A N/A
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Mort Sec Inc Mort Pass THR Certs Ser 2003-3)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be Fund (as defined herein) created hereunder. As provided hereinThe Trust Fund will consist primarily of the Mortgage Loans, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular InterestCertificate Account, the Class A-FL Swap ContractDistribution Account, the Class APre-FL Floating Rate Account, Excess Interest Funding Account and the Excess Capitalized Interest Distribution Account) be treated for federal income tax purposes Account (each, as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectivelydefined herein). As provided herein, the Trustee REMIC Administrator will elect make an election to treat the segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as defined herein), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under (as defined herein) will evidence the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will evidence the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein). The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance and, solely for purposes of satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest Interests (as defined herein). None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Uncertificated Initial REMIC I Regular Interests(1) REMIC I Uncertificated Latest Possible Designation Pass-Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class AMaturity Date(1) ---------------------------------------------------------------------------------------------------------------------- I-FL Regular Interest LALT1 Variable(2) $ 244,999,902.00 October 15, ▇▇▇▇ ▇-FL(2▇▇▇ Variable(2) $[_________] XA$ 1,925,000.00 October 15, ▇▇▇▇ ▇-FL▇▇▇ Variable(2) $ 193,750.00 October 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $ 137,500.00 October 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $ 106,250.00 October 15, ▇▇▇▇ ▇-▇▇▇ Variable(2) $ 2,637,498.00 October 15, ▇▇▇▇ ▇-▇▇▇ (3) $ 100.00 October 15, 2029 ---------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (WMC Secured Assets Corp WMC Mort Pass THR Cert Ser 1999-A)
PRELIMINARY STATEMENT. The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be Fund created hereunder. The Certificates will consist of ten classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class A-3 Certificates, (iv) the Class A-4 Certificates, (v) the Class A-5 Certificates, (vi) the Class A-6 Certificates, (vii) the Class A-7 Certificates, (viii) the Class A-8 Certificates, (ix) the Class P Certificates and (x) the Class R Certificates. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated (exclusive of the Pre-Funding Accounts and the Interest Coverage Accounts) as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute Interest will represent the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Uncertificated REMIC I Regular Interests(1) REMIC I Initial Uncertificated Assumed Final Designation Pass-Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class AMaturity Date (1) ----------- ----------------- ----------------- ----------------- I-FL Regular Interest LA-FL(2LT1 Variable(2) $[_________] XA211,312,141.10 May 25, 2029 I-FLLT2 V▇▇▇▇▇▇▇(▇) $23,479,137.90 May 25, 2029 II-LT1 Variable(2) $34,589,884.50 May 25, 2029 II-LT2 Variable (2) $3,843,320.50 May 25, 2029 III-LT1 Variable (2) $87,025,909.50 May 25, 2029 III-LT2 Variable (2) $9,669,545.50 May 25, 2029 Class P N/A $100.00 May 25, 2029
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Opt One Mort Accept Corp Loan Tr Asset Bk Cert Ser 1999-2)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund, the assets of which will consist primarily of the Mortgage Loans. As provided herein, the Trustee Bank of America, Federal Savings Bank, as Master Servicer, will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated described herein as a REMIC "real estate mortgage investment conduit" for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” interest" in REMIC I created hereunder for purposes federal income tax purposes. Bank of America, Federal Savings Bank, as Master Servicer, will make an election to treat the pool of assets consisting of the REMIC ProvisionsI Regular Interests as a "real estate mortgage investment conduit" for federal income tax purposes and such pool of assets will be designated as "REMIC II." The Class A, Class PO, Class M and Class B Certificates will represent "regular interests" in REMIC II and the Class R-II Certificate will represent the sole class of "residual interest" in REMIC II for federal income tax purposes. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, initial Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date and the Corresponding Components of the Class X Certificates] initial ratings for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLTrust Fund created hereunder.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Ba Mortgage Securities Inc Mort Pass THR Cert Series 1997-3)
PRELIMINARY STATEMENT. The Depositor intends Company is the owner of the Underlying Agency Securities being conveyed by it to sell the Trustee for inclusion in the Trust Fund and has duly authorized the execution and delivery of this Agreement to provide for the sale and conveyance to the Trustee of the Underlying Agency Securities and the issuance of the Mortgage Asset-Backed Pass-Through Certificates, to be issued hereunder in multiple ClassesSeries [200_-__], which Class [A-1], Class [A-2], Class [A-3], Class [S], and Class R (collectively, the "Certificates"), representing in the aggregate will evidence all of the entire beneficial ownership interest "regular interests" and "residual interests" in the Trust to be created hereunderFund, which Certificates are issuable as provided in this Agreement. As provided hereinAll covenants and agreements made by the Company, the Certificate Administrator and the Trustee will elect that two segregated pools of assets within herein are for the Trust Fund (exclusive benefit of the Class A-FL Regular InterestHolders of the Certificates. The Company and the Certificate Administrator are entering into this Agreement, and the Trustee is accepting the trusts created hereby, for good and valuable consideration, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest receipt and the Excess Interest Distribution Account) be treated for federal income tax purposes sufficiency of which are hereby acknowledged. The Underlying Agency Securities are [GNMA] [I] [II] Certificates and are identified as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)[_______________]. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting The Aggregate Underlying Certificate Balance as of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool Closing Date will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_____________]. The following table sets forth the designation, Pass-Through Rate, aggregate Initial Certificate Principal Balance, features, Maturity Date and initial rating for each Class of Certificates comprising the interests in the Trust Fund created hereunder. Aggregate Pass-Through Initial Principal Maturity Initial Designation Rate Balance Features Date Rating ----------- ---- ------- -------- ---- ------ [S&P] XA [Fitch] [Moody's] ----- ------- --------- Class B LB [A-1] [________]% $[____________] XB Sequential Class C LC [A-2] [________]% $[____________] XC Sequential Class A-FL Regular Interest LA-FL(2) [A-3] [________]% $[____________] XA-FLSequential/ Accrual Class [S] [________]% $[____________] Fixed Strip Class R [________]% $[____________] Residual In consideration of the premises and the mutual agreements herein contained, the Company, the Certificate Administrator and the Trustee agree as follows:
Appears in 1 contract
Sources: Trust Agreement (Residential Asset Securities Corp)
PRELIMINARY STATEMENT. (Terms used but not defined in this Preliminary Statement shall have the meanings specified in Article I hereof) The Depositor intends to sell Certificates, pass-through certificates to be issued hereunder in multiple Classes, Classes which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting primarily of the Mortgage Loans (exclusive of Excess Interest) Loans. The Upper-Tier REMIC will hold the Lower-Tier Regular Interests and certain other related assets subject to this Agreement and will issue [__] Classes of regular interests in the Upper-Tier REMIC. The [Class A-1], [Class A-2], [Class A-3], [Class A-4], [Class A-AB], [Class A-5A], [Class A-5B], [Class A-1A], [Class X-C], [Class X-P], [Class A-J], [Class B], [Class C], [Class D], [Class E], [Class F], [Class G], [Class H], [Class J], [Class K], [Class L], [Class M], [Class N], [Class O] and [Class P] Certificates (the "Regular Certificates") are designated as classes of regular interests, and the [Class R] Certificates are designated as the sole class of residual interests, in the Upper-Tier REMIC. The portions of the Trust Fund consisting of the Loan REMIC Residual Interest, and related amounts in the Grantor Trust Distribution Account shall be treated as a REMIC grantor trust (the "Grantor Trust") for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the [Class R-I LR] Certificates constitute will represent the sole Class of “residual interests” interests in REMIC I created hereunder for purposes the portion of the Grantor Trust representing the Loan REMIC ProvisionsResidual Interest under federal income tax law. The following table sets forth Mortgaged Property that secures the Class or Component designation, Mortgage Loan identified as Loan No. [_] on the corresponding REMIC I Regular Interest Mortgage Loan Schedule (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $"[_________] XA Class B LB $Mortgage Loan"), also secures one separate mortgage loan to the same Borrower (referred to herein as the "[_________] XB Class C LC $B Loan" and together with the [_________] XC Class A-FL Regular Interest LA-FL(2) $Mortgage Loan, the "[________] Loan Combination" or the "Loan Combination") which is subordinate to the [________] XAMortgage Loan. The Loan Combination will be serviced pursuant to this Agreement and the [________] Intercreditor Agreement, as and to the extent provided herein. Amounts attributable to the [ ] B Loan will not be assets of the Trust Fund or the Trust REMICs and will be beneficially owned by the [_____] B Loan Noteholder. The following table sets forth the Class designation, the corresponding Lower-FLTier Regular Interests (the "Corresponding Lower-Tier Regular Interests") and the aggregate initial Certificate Balance (or, with respect to the [Class X-C] and [Class X-P] Certificates, Notional Balance) for each Class of Certificates comprising interests in the Upper-Tier REMIC.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Deutsche Mortgage & Asset Receiving Corp)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-20 Certificates, Class A-21 Certificates, Class A-22 Certificates, Class A-23 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Uncertificated Initial Uncertificated Latest REMIC-I-Pass Principal-Balance Possible-Maturity(1) Designation Through Rate --------------------------------------------- ------------------------------------------------------- REMIC I Regular Interest (the “Corresponding 6.50% $ 25,028,000.00 November 25, 2031 Q REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest 6.50% $ 25,000,000.00 November 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2031 R REMIC I Regular Interests(1) Interest 6.50% $ 22,951,000.00 November 25, 2031 S REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA6.50% $ 276,470,817.00 November 25, 2031 T REMIC I Regular Interest 8.00% $ 100,000,000.00 November 25, 2031 V REMIC I Regular Interest 5.50% $ 150,000,000.29 November 25, 2031 W REMIC I Regular Interest 6.50% $ 17,649,000.00 November 25, 2031 X REMIC I Regular Interest 6.50% $ 1,641,461.00 November 25, 2031 Y REMIC I Regular Interest 0.00% $ 1,066,575.36 November 25, 2031 Z REMIC I Variable (2) N/A(3) November 25, 2031 IO Regular Interests R-FL(2) $[_________] XA-FLI 6.50% $ 100.00 November 25, 2031 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be Fund created hereunder. The Certificates will consist of twenty-one Classes of Certificates, designated as (i) the Class A-1, Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, Class A-2MZ Certificates, (ii) the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10, Class M-11 and Class M-12 Certificates, (iii) the Class B-1 and Class B-2 Certificates, (iv) the Class CE Certificates, (v) the Class P Certificates and (vi) the Class R and Class R-X Certificate. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated (but exclusive of the Cap Carryover Reserve Account, the Interest Rate Swap Agreement, the Swap Account, the Pre-Funding Accounts and the Servicer Prepayment Charge Payment Amounts) as a REMIC real estate investment conduit (a “REMIC”) for federal income tax purposes, and such segregated asset pool of assets will be designated as “REMIC I”. 1.” The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute R-1 Interest will represent the sole Class class of “residual interests” in REMIC I created hereunder 1 for purposes of the REMIC ProvisionsProvisions under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Regular Interest (1 Pass-Through Rate, the initial Uncertificated Balance, and solely for purposes of satisfying Treasury Regulations Section 1.860G-1(a)(4)(iii), the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] latest possible maturity date” for each Class of the REMIC II 1 Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case Interests. None of the Class AREMIC 1 Regular Interests will be certificated. Designation Uncertificated REMIC 1 Pass-FL CertificatesThrough Rate Initial Uncertificated Balance Latest Possible Maturity Date(1) I Variable(2) $ 296,938,015.40 August 25, “Corresponding Certificates” shall mean the Class A2035 I-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1PF Variable(2) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[$ 2,114,696.99 August 25, 2035 II Variable(2) $ 696,288,812.30 August 25, 2035 II-PF Variable(2) $ 11,623,798.71 August 25, 2035 P Variable(2) $ 100.00 August 25, 2035 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL_______
Appears in 1 contract
Sources: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-Wmc1)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class II-A-4 Certificates, Class III-A-1 Certificates, Class III-A-2 Certificates, Class IV-A-1 Certificates, Class IV-A-2 Certificates, Class IV-A-3 Certificates, Class IV-A-4 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates, will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of this Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. INITIAL UNCERTIFICATED UNCERTIFICATED REMIC --------------------- LATEST DESIGNATION I PASS-THROUGH RATE PRINCIPAL BALANCE POSSIBLE MATURITY(1) Uncertificated REMIC I Regular Interest (the “Corresponding I-A Variable(2) $ 94.47 September 25, 2036 Uncertificated REMIC I Regular Interest”Interest I-B Variable (2) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt$ 2,453.33 September 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2036 Uncertificated REMIC I Regular Interests(1Interest II-A Variable(2) $ 600.69 September 25, 2036 Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class Regular Interest II-B Variable(2) $ 15,599.94 September 25, 2036 Uncertificated REMIC I Regular Interest III-A LA Variable (2) $ 386.06 September 25, 2036 Uncertificated REMIC I Regular Interest III-B Variable(2) $ 10,025.93 September 25, 2036 Uncertificated REMIC I Regular Interest IV-A Variable(2) $ 269.86 September 25, 2036 Uncertificated REMIC I Regular Interest IV-B Variable(2) $ 7,008.39 September 25, 2036 Uncertificated REMIC I Regular Interest ZZZ Variable(2) $[350,839,279.13 September 25, 2036 Uncertificated REMIC I Regular Interest R-II Variable(2) $ 50.00 September 25, 2036 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL _ (1) For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Uncertificated REMIC I Regular Interest LA-FL(2) $[_________] XA-FLInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006-Sa3 Trust)
PRELIMINARY STATEMENT. The Depositor Company intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee Master Servicer will elect make an election to treat the segregated pool of assets consisting described in the definition of the Mortgage Loans Trust Fund (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans but excluding the Initial Monthly Payment Deposit), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “REMIC I”. the "Trust Fund." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7 and Class B Certificates will represent ownership of "regular interests” " in REMIC I the Trust Fund, and the Class R-I R Certificates constitute will be the sole Class class of “"residual interests” in REMIC I created hereunder " therein, for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)Trust Fund created hereunder. AGGREGATE INITIAL PASS- CERTIFICATE THROUGH PRINCIPAL DESIGNATION TYPE RATE BALANCE FEATURES INITIAL RATINGS [ ] [ ] Class A LA A-1 Senior ____% $[_________] XA ___ Senior ____ ____ Class B LB A-2 Senior ____% $[_________] XB ___ Senior ____ ____ Class C LC A-3 Senior ____% $[_________] XC ___ Senior ____ ____ Class A-FL Regular Interest LA-FL(2) A-4 Senior ____% $[_________] XA___ Senior ____ ____ Class A-5 Senior/Fixed ____% $____________ Senior/Interest ____ ____ Strip Only Class A-6 Senior ____% $____________ Senior ____ ____ Class A-7 Senior/Variable Variable $____________ Senior/Interest ____ ____ Strip Rate Only Class R Residual ____% $____________ Residual ____ ____ Class B Subordinate ____% $____________ Subordinate ____ ____ The Mortgage Loans have an aggregate Stated Principal Balance as of the Cut-FLoff Date equal to $______________. The Mortgage Loans are fixed rate mortgage loans having terms to maturity at origination or modification of not more than 30 years. In consideration of the mutual agreements herein contained, the Company, the Master Servicer and the Trustee agree as follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Namco Securities Corp)
PRELIMINARY STATEMENT. The Depositor intends Company is the owner of the Underlying Agency Securities being conveyed by it to sell the Trustee for inclusion in the Trust Fund and has duly authorized the execution and delivery of this Agreement to provide for the sale and conveyance to the Trustee of the Underlying Agency Securities and the issuance of the Mortgage Pass-Through Certificates, to be issued hereunder in multiple ClassesSeries 20[__-__], which Class [A-l], Class [A-2], Class [A-3], Class [S] and Class R (collectively, the "CERTIFICATES"), representing in the aggregate will evidence all of the entire beneficial ownership interest "regular interests" and "residual interests" in the Trust to be created hereunderFund, which Certificates are issuable as provided in this Agreement. As provided hereinAll covenants and agreements made by the Company, the Certificate Administrator and the Trustee will elect that two segregated pools of assets within herein are for the Trust Fund (exclusive benefit of the Class A-FL Regular InterestHolders of the Certificates. The Company and the Certificate Administrator are entering into this Agreement, and the Trustee is accepting the trusts created hereby, for good and valuable consideration, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest receipt and the Excess Interest Distribution Account) be treated for federal income tax purposes sufficiency of which are hereby acknowledged. The Underlying Agency Securities are [GNMA] [I] [II] Certificates and are identified as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively)[____________]. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting The Aggregate Underlying Certificate Balance as of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool Closing Date will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________]. The following table sets forth the designation, Pass-Through Rate, aggregate Initial Certificate Principal Balance, features, Maturity Date and initial rating for each Class of Certificates comprising the interests in the Trust Fund created hereunder. Pass-Through Aggregate Initial Designation Rate Rate Principal Balance Features ----------------------- ------------ ----------------- ------------------ Class [A-1] XB [ ]% $[ ] Sequential Class C LC [A-2] [ ]% $[ ] Sequential Class [_________A-3] XC [ ]% $[ ] Sequential/Accrual Class A-FL Regular Interest LA-FL(2) [S] [ ]% $[ ] Fixed Strip Class R [ ]% $[ ] Residual Maturity Initial Rating Designation Date [_________S&P] XA-FL[Fitch] [Moody's] ----------------------- ------------ ----------- -------------- ----------- Class [A-1] Class [A-2] Class [A-3] Class [S] Class R In consideration of the premises and the mutual agreements herein contained, the Company, the Certificate Administrator and the Trustee agree as follows:
Appears in 1 contract
Sources: Trust Agreement (Taconic Asset Acceptance Company, L.L.C.)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 10.01, an election to treat the entire segregated pool of assets described in the definition of REMIC 1 (as defined herein), and subject to this Agreement, as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be designated as "REMIC 1." The REMIC 1 Regular Interests will be the "regular interests" in REMIC 1 and the Class R-1 Certificates will be the sole class of "residual interests" in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool 1 Regular Interests will be designated as “"REMIC I”2" and the REMIC Administrator will make a separate REMIC election with respect thereto. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “Class 1-A, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests” " in REMIC I 2, and the Class R-I R-2 Certificates constitute will be the sole Class class of “"residual interests” in REMIC I created hereunder " therein for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for the REMIC 1 Regular Interest. The REMIC 1 Regular Interests will not be certificated. Initial REMIC I REMIC I Uncertificated Latest Possible Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class ADesignation Pass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class Maturity Date(1) -------------------------------------------------------------------------------------------------------------------- 1-A LA $[_________] XA Class Variable (2) $ 348.63 April 25, 2035 1-B LB $[_________] XB Class C LC $[_________] XC Class AVariable (2) $ 11,243.83 April 25, 2035 2-FL Regular Interest LAA Variable (2) $ 913.31 April 25, 2035 2-FL(2B Variable (2) $[_________] XA-FL$ 29,461.01 April 25, 2035 ZZZ Variable (2) $ 407,006,481.68 April 25, 2035
Appears in 1 contract
Sources: Pooling and Servicing Agreement (MERRILL LYNCH MORT INV TRUST SERIES MLCC Series 2005-1)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two to treat the segregated pools pool of assets within consisting of the Trust Fund Pooled Mortgage Loans (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest certain amounts payable thereon) and the Excess Interest Distribution Account) be treated certain other assets as a REMIC for federal income tax purposes purposes, and such segregated pool of assets will be designated as two separate real estate mortgage investment conduits (“"REMIC I” and “". The Class R Certificates will represent ownership of (among other things) the sole class of "residual interests" in REMIC II”, respectively)I for purposes of the REMIC Provisions under federal income tax law. The Latest Possible Maturity Date for each REMIC I Regular Interest is the Rated Final Distribution Date. None of the REMIC I Regular Interests will be certificated. REMIC II -------- As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”II". The REMIC I Regular Interests listed below under Class R Certificates will represent ownership of (among other things) the heading “Corresponding REMIC I Regular Interests” constitute “regular sole class of "residual interests” " in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder II for purposes of the REMIC ProvisionsProvisions under federal income tax law. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [II Remittance Rate and the Corresponding Components of the Class X Certificates] initial Uncertificated Principal Balance for each Class of the REMIC II Regular Certificates (Interests. The Latest Possible Maturity Date for each REMIC II Regular Interest is the “Corresponding Certificates”) (for the avoidance of doubt, in the case Rated Final Distribution Date. None of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL REMIC II Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Interests will be certificated. Remic II Initial Uncertificated Designation Remittance Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A----------- --------------- ----------------- A-1-FL Regular Interest LA1 Variable (1) $ 12,811,000 A-1-FL(22 Variable (1) $[_________] XA$ 58,122,000 A-1-FL3 Variable (1) $ 36,067,000 A-2-1 Variable (1) $ 24,346,000 A-2-2 Variable (1) $ 57,811,000 A-2-3 Variable (1) $ 73,843,000 A-3-1 Variable (1) $ 74,618,000 A-3-2 Variable (1) $ 48,050,000 A-3-3 Variable (1) $ 11,332,000 A-4 Variable (1) $ 100,000,000 A-5-1 Variable (1) $ 29,564,000 A-5-2 Variable (1) $ 42,090,000 A-5-3 Variable (1) $ 507,425,000 B-1 Variable (1) $ 7,052,000 B-2 Variable (1) $ 22,239,000 C-1 Variable (1) $ 3,853,000 C-2 Variable (1) $ 5,397,000 D-1 Variable (1) $ 8,868,000 D-2 Variable (1) $ 11,174,000 E-1 Variable (1) $ 5,638,000 E-2 Variable (1) $ 8,237,000 F-1 Variable (1) $ 725,000 F-2 Variable (1) $ 14,691,000 G Variable (1) $ 9,250,000 H-1 Variable (1) $ 6,149,000 H-2 Variable (1) $ 12,351,000 J Variable (1) $ 4,625,000 K Variable (1) $ 4,625,000 L Variable (1) $ 6,167,000 M Variable (1) $ 4,625,000 N Variable (1) $ 4,625,000 P Variable (1) $ 3,083,000 Q Variable (1) $ 13,875,641 --------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Pwr5)
PRELIMINARY STATEMENT. The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be Fund created hereunder. The Certificates will consist of ten classes of certificates, designated as (i) the Class A-1 Certificates, (ii) the Class A-2 Certificates, (iii) the Class S-1 Certificates, (iv) the Class S-2 Certificates, (v) the Class M-1 Certificates, (vi) the Class M-2 Certificates, (vii) the Class M-3 Certificates, (viii) the Class P Certificates, (ix) the Class C Certificates and (x) the Class R Certificates. REMIC 1A As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Group I Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated (exclusive of the Reserve Fund and Master Servicer Prepayment Charge Payment Amounts) as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. 1A." The REMIC I Regular Interests listed below under Class R-1A Interest will represent the heading “Corresponding REMIC I Regular Interests” constitute “regular sole class of "residual interests” " in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder 1A for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Regular Interest (1A Pass-Through Rate, the “Corresponding REMIC I Regular Interest”) [initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the Corresponding Components of the Class X Certificates] "latest possible maturity date" for each Class of the REMIC II 1A Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case Interests. None of the Class AREMIC 1A Regular Interests will be certificated. Uncertificated REMIC 1A Initial Uncertificated Assumed Final Designation Pass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Maturity Date(1) ----------- ----------------------- ---------------------- ---------------- LT1A-1 Variable(2) $[_________] XA615,010,107.00 September 2031 LT1A-2 Variable(2) $68,334,000.00 September 2031 LT1A-FLP Variable(2) $100.00 September 2031 -------------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Tr 2001-3 as-BCKD Cert Ser 2001-3)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect cause an election to be made to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interestas defined herein) and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans) as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “(as defined herein) will be "regular interests” interests in REMIC I and the Class R-I Certificates constitute will represent ownership of the sole Class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II", and the Trustee will make a separate REMIC election with respect thereto. The Class SA Certificates, Class SP Certificates, the Class A-1 Certificates, the Class A- 2 Certificates, Class P Certificates, the Class B Certificates and the Class SB Certificates, will be the "regular interests" in REMIC II, and the Class R-II Certificates will represent ownership of the sole Class of "residual interests" in REMIC II. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest initial Pass-Through Rate, aggregate Initial Certificate Principal Balance (the “Corresponding REMIC I Regular Interest”) [as defined herein), and the Corresponding Components of the Class X Certificates] initial percentage for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, certificated interests in the case of the Trust Fund created hereunder. Aggregate Initial Initial Certificate Approximate Pass-Through Principal Initial Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Designation Type Rate Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[Percentage _________] XA Class B LB $[__ ____ _________] XB Class C LC $[___ _________] XC Class A-FL Regular Interest LA-FL(2) $[________ _________] XA____ Class SA Senior 2.527% N/A N/A Class SP Senior 0.000% N/A N/A Class A-1 Senior 6.50% $51,805,859.00 82.24% Class A-2 Senior 6.50% $7,248,574.00 11.51% Class P Principal Only 0.00% $37,207.00 N/A Class B Subordinate 6.50% $3,939,443.44 6.25% Class SB Subordinate 1.250% N/A N/A Class R-FLI Residual N/A N/A N/A Class R-II Residual 6.50% $0.00 0.00% As of the Cut-off Date, the Mortgage Loans have an aggregate Stated Principal Balance equal to $63,031,083.44. In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer and the Trustee agree as follows:
Appears in 1 contract
Sources: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp Mort Pass THR Cert Ser 1995 Q7)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution AccountYield Maintenance Agreements and any payments thereunder), as a real estate mortgage investment conduit (the "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC Regular I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated REMIC II Regular Interests Z will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC I Regular Interests Z. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. AGGREGATE INITIAL CERTIFICATE DESIGNATION RATE BALANCE FEATURES(1) DATE MOODY'S/S&P/FITC DENOMINATIONS(2) Class A-1 6.00% $10,000,000 Senior/Fixed ▇▇▇▇ July 2036 Aaa/AAA/AAA $100,000.00 Class A-2 6.00% $20,000,000 Senior/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-3(3) Variable $50,000,000 Senior/Floater/Adjustable Rate July 2036 Aaa/AAA/AAA $100,000.00 Rate Senior/Inverse Floater/ Class A-4(3) Variable ------------------------------------ Rate Notional Interest Only/Adjustable Rate July 2036 Aaa/AAA/AAA $1,000,000.00 Class A-5(4) Variable $25,000,000 Senior/Floater/Adjustable Rate July 2036 Aaa/AAA/AAA $100,000.00 Rate Class A-6(4) Variable Notional Senior/Inverse Floater/ July 2036 Aaa/AAA/AAA $1,000,000.00 Rate Interest Only/Adjustable Rate Class A-7(5) Variable $5,000,000 Senior/Floater/Adjustable Rate July 2036 Aa1/AAA/AAA $100,000.00 Rate Class A-8(5) Variable $208,333 Senior/Inverse Floater/Adjustable July 2036 Aaa/AAA/AAA $100,000.00 Rate Rate Class A-9 6.00% $140,586,000 Super Senior/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-10 6.00% $9,754,000 Super Senior/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-11 6.00% $57,500,000 Senior/Retail/Fixed Rate July 2036 Aaa/AAA/AAA $1,000.00 Class A-12 6.00% $102,866,700 Super Senior/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-13 6.00% $64,933,000 Super Senior/Accretion Directed/ July 2036 Aaa/AAA/AAA $100,000.00 Fixed Rate Class A-14 6.00% $25,000,000 Super Senior/Accrual/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-15 6.00% $50,849,000 Super Senior/Lockout/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-16 6.00% $14,502,000 Super Senior/Lockout/Fixed Rate July 2036 Aaa/AAA/AAA $100,000.00 Class A-FL Certificates, “Corresponding Certificates” shall mean the P 0.00% $2,070,240 Senior/Principal Only July 2036 Aaa/AAA/AAA $100,000.00 Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC V Variable Notional Senior/Interest Only/Variable Rate July 2036 Aaa/AAA/AAA $2,000,000.00 Rate Class R-I Regular Interests(16.00% $100.00 Senior/Residual/Fixed Rate July 2036 Aaa/AAA/AAA (6) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] R-II 6.00% $66.66 Senior/Residual/Fixed Rate July 2036 Aaa/AAA/AAA (4) Class M-1 6.00% $11,691,400 Mezzanine/Fixed Rate July 2036 NA/NA/AA $100,000.00 Class M-2 6.00% $3,597,300 Mezzanine/Fixed Rate July 2036 NA/NA/A LA $[_________] XA 250,000.00 Class M-3 6.00% $2,398,200 Mezzanine/Fixed Rate July 2036 NA/NA/BBB $250,000.00 Class B-1 6.00% $1,199,100 Subordinate/Fixed Rate July 2036 NA/NA/BB $250,000.00 Class B-2 6.00% $1,199,100 Subordinate/Fixed Rate July 2036 NA/NA/B LB $[_________] XB 250,000.00 Class C LC B-3 6.00% $[_________] XC Class A-FL Regular Interest LA-FL(2) 1,199,233 Subordinate/Fixed Rate July 2036 NA/NA/NA $[_________] XA-FL250,000.00
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006-S6 Trust)
PRELIMINARY STATEMENT. Terms used but not defined in this Preliminary Statement shall have the meanings specified in Article I hereof. The Depositor intends to sell Certificates, pass-through certificates to be issued hereunder in multiple Classes, classes which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund consisting primarily of the Mortgage Loans and Mortgage Certificates. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, within the Trustee will elect to treat the segregated pool of assets consisting meaning of the Mortgage Loans (exclusive of Excess Interest) Code. The Class A, Class B, Class C, Class D, Class E, Class F, Class G, Class X-1 and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool Class X-2 Certificates will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” in REMIC I ," and the Class RR Certificate will be designated as the "residual interest," in the Upper-I Certificates constitute the sole Class of “residual interests” in Tier REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions under federal income tax law. The Class AL, Class BL, Class CL, Class DL, Class EL, Class FL, Class GL, Class AR-L and Class X-1L Interests will be designated as the "regular interests" in the Lower-Tier REMIC and the Class LR Certificate will be designated as the "residual interest" in the Lower-Tier REMIC for purposes of the REMIC Provisions under federal income tax law. The following table sets forth forth, to the extent applicable, the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [initial Certificate Principal Amount and the Corresponding Components of the Class X Certificates] Pass-Through Rate for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Class AUpper-FL Certificates, “Corresponding Certificates” shall mean the Class ATier REMIC created hereunder. Initial Certificate Pass-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Designation Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLAmount Rate ----------- ---------------- ------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (LTC Properties Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. DESIGNATION UncertificatedInitial Uncertificated Latest REMIC I Pass- Principal BalancePossible Maturity(1) Through Rate REMIC I Regular Interest (the “Corresponding T 7.60% $75,000,000.00 July 25, 2018 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest U 0.6666666% $71,226,131.00 July 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2018 REMIC I Regular Interests(1) Interest V 0.00% $9,996,650.00 July 25, 2018 REMIC I Principal Balance [Corresponding Components of Class Regular Interest W 7.60% $41,535,219.00 July 25, 2018 REMIC I Regular Interest X Certificates(1)] Class A LA 7.60% $[2,175,000.00 July 25, 2018 REMIC I Regular Interest Y 4.75% $2,229,316.00 July 25, 2018 REMIC I Regular Interest Z 0.00% $437,559.00 July 25, 2018 REMIC I IO Regular Interests (2) (3) July 25, 2018 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderMortgage Loans. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the definition of Trust Fund Fund, and subject to this Agreement (exclusive of including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate one or more real estate mortgage investment conduits (“REMIC I” and “REMIC II”each, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interesta "REMIC") and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I terms and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes provisions of the REMIC ProvisionsStandard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [type, Pass-Through Rate, aggregate Initial Certificate Principal Balance, Maturity Date, initial ratings and the Corresponding Components of the Class X Certificates] certain features for each Class of Certificates comprising the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, interests in the case of the Trust Fund created hereunder. PASS- AGGREGATE INITIAL [STANDARD & THROUGH CERTIFICATE MATURITY POOR'S/FITCH MINIMUM DESIGNATION RATE PRINCIPAL BALANCE FEATURES(1) DATE IBCA] DENOMINATIONS(2) ----------- ---- ----------------- ----------- ---- ----- ---------------- Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)_] Class A LA [___]% $[__________] XA Class B LB Senior [_____] 25, 20[_] AAA/AAA $[__________] XB Class C LC [_] [___]% $[__________] XC Class A-FL Regular Interest LA-FL(2) Senior [_____] 25, 20[_] AAA/AAA $[__________] XAClass [_] [___]% $[__________] Senior [_____] 25, 20[_] AAA/AAA $[__________] Class [_] [___]% $[__________] Senior [_____] 25, 20[_] AAA/AAA $[__________] Class [_] [___]% $[__________] Senior [_____] 25, 20[_] AAA/AAA $[__________] Class [_] [___]% $[__________] Senior [_____] 25, 20[_] AAA/AAA $[__________] Class [_] [___]% $[__________] [Senior Support] [_____] 25, 20[_] AAA/AAA $[__________] Class [_] [___]% $[__________] Prepayment [_____] 25, 20[_] AAA/AAA $[__________] Lockout/Senior Class A-FLP 0.00% $[__________] Principal [_____] 25, 20[_] AAAr/AAA $[__________] Only/Senior Class A-V Variable $0.00 Variable [_____] 25, 20[_] AAAr/AAA (4) Rate(3) Strip/Senior Class R [___]% $100.00 Residual/Senior [_____] 25, 20[_] AAA/AAA (5) Class M-1 [___]% $[__________] Mezzanine [_____] 25, 20[_] AA/AA $[__________] Class M-2 [___]% $[__________] Mezzanine [_____] 25, 20[_] A/A $[__________] Class M-3 [___]% $[__________] Mezzanine [_____] 25, 20[_] BBB/BBB $[__________] Class B-1 [___]% $[__________] Subordinate [_____] 25, 20[_] BB/BB $[__________] Class B-2 [___]% $[__________] Subordinate [_____] 25, 20[_] B/B $[__________] Class B-3 [___]% $[__________] Subordinate [_____] 25, 20[_] N/A $[__________] The Mortgage Loans have an aggregate principal balance as of the Cut-off Date of $[__________]. In consideration of the mutual agreements herein contained, the Company, the Master Servicer and the Trustee agree as follows:
Appears in 1 contract
Sources: Series Supplement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST -REMIC-I-PASS PRINCIPAL-BALANCE POSSIBLE-MATURITY(1) DESIGNATION THROUGH RATE --------------------------------------------------------------------------------------------- REMIC I Regular Interest (the “Corresponding W 6.25% $ 25,000,000.00 October 25, 2032 REMIC I Regular Interest”) [and the Corresponding Components of the Class Interest X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt6.25% $ 25,000,000.00 October 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2032 REMIC I Regular Interests(1) Interest Y 6.25% $ 258,393,428.03 October 25, 2032 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Z 0.00% $ 4,851,743.86 October 25, 2032 REMIC I IO Regular Interests Variable (2) $[_________] XA-FLN/A(3) October 25, 2032
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 9.12, an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated Agreement, as a REMIC real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “REMIC I”. The REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” and the Trustee will make, in accordance with Section 9.12, a separate REMIC election with respect thereto. The Class I-A-1, Class I-A-2, Class II-A-1, Class II-A-2, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be “regular interests” in REMIC II, and the Class R-II Certificates will be the sole class of “residual interests” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each REMIC I Regular Interest. The REMIC I Regular Interests will not be certificated. REMIC I Regular Interest (the “Corresponding Designation REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class APass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Initial Uncertificated Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[Latest Possible Maturity Date(1) II-SUB Variable(2) $ 1,146.49 September25,2035 II-GRP Variable(2) $ 38,213.49 September25,2035 ZZZ Variable(2) $ 463,312,977.78 September25,2035 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A7)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 9.12, an election to treat the entire segregated pool of assets described in the definition of REMIC 1 (as defined herein), and subject to this Agreement, as a real estate mortgage investment conduit (a "REMIC") for federal income tax purposes and such segregated pool of assets will be designated as "REMIC 1." The REMIC 1 Regular Interests will be the "regular interests" in REMIC 1 and the Class R-1 Certificates will be the sole class of "residual interests" in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool 1 Regular Interests will be designated as “"REMIC I”2" and the REMIC Administrator will make a separate REMIC election with respect thereto. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “Class 1-A, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests” " in REMIC I 2, and the Class R-I R-2 Certificates constitute will be the sole Class class of “"residual interests” in REMIC I created hereunder " therein for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC 1 Pass-Through Rate, the initial Uncertificated Principal Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for the REMIC 1 Regular Interest. The REMIC 1 Regular Interests will not be certificated. REMIC I Regular Initial Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class AUncertificated Latest Possible Designation Pass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class Maturity Date(1) -------------------------------------------------------------------------------- 1-A LA $[_________] XA Class Variable (2) $ 229.32 November 25, 2034 1-B LB $[_________] XB Class C LC $[_________] XC Class AVariable (2) $ 7,643.52 November 25, 2034 2-FL Regular Interest LAA Variable (2) $ 1,606.83 November 25, 2034 2-FL(2B Variable (2) $[_________] XA-FL$ 53,559.03 November 25, 2034 ZZZ Variable (2) $ November 25, 2034 611,962,493.97 -----------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust MLCC Series 2004-1)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. DESIGNATION Uncertificated Initial Uncertificated Latest REMIC I Principal Balance Possible Maturity(1) Pass-Through Rate REMIC I Regular Interest (the “Corresponding T 4.000% $100,356,000.00 October 25, 2033 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest U 4.875% $ 4,564,000.00 October 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2033 REMIC I Regular Interests(1) Interest V 5.250% $119,139,584.42 October 25, 2033 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2W 6.000% $ 83,387,000.00 October 25, 2033 REMIC I Regular Interest X 0.000% $ 22,178,000.00 October 25, 2033 REMIC I Regular Interest Y 7.500% $ 80,467,000.00 October 25, 2033 REMIC I Regular Interest Z 0.000% $ 2,100,265.65 October 25, 2033 REMIC I IO Regular Interests (2) $[_________] XA-FL(3) October 25, 2033 -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 9.12, an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated Agreement, as a REMIC real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “REMIC I”. I.” The REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute will be the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” and the Trustee will make, in accordance with Section 9.12, a separate REMIC election with respect thereto. The REMIC II Regular Interests will be “regular interests” in REMIC II and the Class R-II Certificates will be the sole Class of “residual interests” in REMIC I created hereunder II for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components A segregated pool of the Class X Certificates] for each Class assets consisting of the REMIC II Regular Interests will be designated as “REMIC III” and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A, Class II-A-1, Class II-A-2, Class II-A-IO, Class III-A, Class IV-A, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be “regular interests” in REMIC III, and the Class R-III Certificates will be the sole class of “residual interests” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “Corresponding Certificates”) (latest possible maturity date” for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) Interest. The REMIC I Regular Interests will not be certificated. REMIC I Regular Interest Designation REMIC I Pass-Through Rate Initial Uncertificated Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[Latest Possible Maturity Date(1) I-GRP Variable (2) $ 21,867.34 July 25, 2035 II-SUB Variable (2) $ 1,191.75 July 25, 2035 II-GRP Variable (2) $ 23,833.35 July 25, 2035 III-SUB Variable (2) $ 96.57 July 25, 2035 III-GRP Variable (2) $ 1,929.77 July 25, 2035 IV-SUB Variable (2) $ 128.99 July 25, 2035 IV-GRP Variable (2) $ 2,579.49 July 25, 2035 ZZZ Variable (2) $ 502,046,817.87 July 25, 2035 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A4)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Reserve Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution AccountInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-7A Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated REMIC II Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Uncertificated REMIC I Regular Interests(1) REMIC I Pass- Initial Uncertificated Latest Designation Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Possible Maturity(1) $[_________] XA-FL----------- ------------ ------------------------ --------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses (each, a "Class"), which in the aggregate will evidence the entire beneficial ownership interest in a trust fund (the "Trust Fund") to be created hereunder. As provided herein, the Trustee primary assets of which will elect that two be the Mortgage Loans. An election will be made to treat the segregated pools pool of assets within consisting of the Trust Fund ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Loan and certain other related assets subject to this Agreement (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Additional Interest and the Excess Interest Distribution Accountthereon) be treated as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as the "Loan REMIC." The Class R-I Certificates will, in part, represent the sole class of "residual interests" in the Loan REMIC for purposes of the REMIC Provisions under federal income tax law. The Loan REMIC Pooled Regular Interest and the Class MAD-NP Uncertificated Interest will be the "regular interests" in the Loan REMIC for purposes of the REMIC provisions, will not be certificated and will be held by REMIC I. The ownership interest in the ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Loan, as two separate real estate mortgage investment conduits part of the Loan REMIC related to the 11 Madison Avenue Loan, will be split into a senior undivided ownership interest in the portion of the Loan REMIC related to the ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Loan (“the "11 Madison Avenue Pooled Component") and a subordinate undivided ownership interest in such portion of the Loan REMIC I” (the "11 Madison Avenue Non-Pooled Component" and, together with the ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Pooled Component, the "Loan Components"). The following table describes certain information regarding the ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Loan and “the ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Loan Components: ---------------------------------------------------------------------------------------------------------------------- COMPONENT BALANCE/ORIGINAL ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ CORRESPONDING LOAN LOAN REMIC II”, respectively)PRINCIPAL LOAN REMITTANCE RATE* REMIC REGULAR RELATED CLASS OF COMPONENT AMOUNT INTEREST CERTIFICATES ---------------------------------------------------------------------------------------------------------------------- ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ $82,000,000 5.2622% Loan REMIC Pooled N/A Pooled Component Regular Interest ---------------------------------------------------------------------------------------------------------------------- ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ $13,555,555 5.2622% Class MAD-NP Class Non-Pooled Component Uncertificated MAD Interest ---------------------------------------------------------------------------------------------------------------------- * Represents the Net Mortgage Rate at which interest will accrue on the ▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ Loan based on the actual number of days elapsed and a 360-day year. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the Majority Mortgage Loans (exclusive of Excess that portion of the interest payments thereon that constitutes Additional Interest) ), the Loan REMIC Pooled Regular Interest, the Class MAD-NP Uncertificated Interest and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC Class R-I Regular Interests listed below under Residual Interest will represent the heading “Corresponding REMIC I Regular Interests” constitute “regular sole class of "residual interests” " in REMIC I for purposes of the REMIC Provisions under federal income tax law and will be represented, in part, by the Class R-I Certificates. As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II." The Class R-II Certificates constitute will evidence the sole Class class of “"residual interests” " in REMIC I created hereunder II for purposes of the REMIC ProvisionsProvisions under federal income tax law. For federal income tax purposes, each Class of the Regular Certificates (other than with respect to the right of the Class MAD Certificates to receive Additional Interest) will be designated as a separate "regular interest" in REMIC II for purposes of the REMIC Provisions under federal income tax law. The following table sets forth the Class or Component designation, the original REMIC I Principal Balance for each corresponding REMIC I Regular Interest (the “"Corresponding REMIC I Regular Interest”) ["), and the Corresponding Components of the Class X Certificates] Certificates (the "Corresponding Components") and the Original Class Principal Balance for each Class of the REMIC II Regular Certificates Sequential Pay Certificates, Class MAD Certificates, or Class PP Certificates, as applicable (the “"Corresponding Certificates”) (for the avoidance of doubt, in the case of the "). REMIC I Corresponding Pass- Corresponding Corresponding Original Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) Original REMIC I Principal Balance [Corresponding Through Components of Class Certificates Principal Balance Interests (1) Principal Balance Rate X Certificates(1)] Certificates (1) Class A LA A-1 $[_________] XA 40,000,000 LA-1-1 $2,769,000 2 X-A-1-1 LA-1-4 $16,913,000 X-A-1-4 Class A-2 $226,423,000 LA-2-1 $1,999,000 2 X-A-2-1 LA-2-5 $17,140,000 X-A-2-5 REMIC I Corresponding Pass- Corresponding Corresponding Original Class REMIC I Regular Original REMIC I Through Components of Class Certificates Principal Balance Interests (1) Principal Balance Rate X Certificates (1) LA-2-6 $16,528,000 X-A-2-6 LA-2-7 $137,258,000 X-A-2-7 Class A-3 $80,236,000 LA-3-1 $49,312,000 2 X-A-3-1 LA-3-4 $5,515,000 X-A-3-4 Class A-4 $305,906,000 LA-4-1 $5,173,000 2 X-A-4-1 Class A-1A $294,994,000 LA-1A-1 $987,000 2 X-A-1A-1 LA-1A-2 $1,292,000 X-A-1A-2 LA-1A-3 $6,239,000 X-A-1A-3 LA-1A-4 $7,118,000 X-A-1A-4 LA-1A-5 $6,985,000 X-A-1A-5 LA-1A-6 $6,901,000 X-A-1A-6 LA-1A-7 $6,599,000 X-A-1A-7 LA-1A-8 $6,475,000 X-A-1A-8 LA-1A-9 $6,226,000 X-A-1A-9 LA-1A-10 $54,578,000 X-A-1A-10 LA-1A-11 $4,681,000 X-A-1A-11 LA-1A-12 $4,608,000 X-A-1A-12 REMIC I Corresponding Pass- Corresponding Corresponding Original Class REMIC I Regular Original REMIC I Through Components of Class Certificates Principal Balance Interests (1) Principal Balance Rate X Certificates (1) LA-1A-13 $4,404,000 X-A-1A-13 LA-1A-14 $63,808,000 X-A-1A-14 LA-1A-15 $114,093,000 X-A-1A-15 LB $28,797,000 2 X-B Class B LB $[_________] XB 28,797,000 LC $13,712,000 2 X-C Class C LC $[_________] XC 13,712,000 LD-1 $5,843,000 2 X-D-1 Class D $17,826,000 LD-2 $5,923,000 X-D-2 LD-3 $5,474,000 X-D-3 LD-4 $586,000 X-D-4 LE-1 $2,990,000 2 X-E-1 Class E $10,970,000 LE-2 $7,665,000 X-E-2 LE-3 $315,000 X-E-3 Class F $12,341,000 LF-1 $6,248,000 2 X-F-1 LF-2 $6,093,000 X-F-2 Class G $12,341,000 LG-1 $9,121,000 2 X-G-1 LG-2 $3,220,000 X-G-2 Class H $15,084,000 LH-1 $4,200,000 2 X-H-1 LH-2 $10,184,000 X-H-2 LH-3 $700,000 X-H-3 Class J $2,742,000 LJ $2,742,000 2 X-J Class K $4,113,000 LK $4,113,000 2 X-K REMIC I Corresponding Pass- Corresponding Corresponding Original Class REMIC I Regular Original REMIC I Through Components of Class Certificates Principal Balance Interests (1) Principal Balance Rate X Certificates (1) Class L $6,856,000 LL $6,856,000 2 X-L Class M $2,742,000 LM $2,742,000 2 X-M Class N $2,742,000 LN $2,742,000 2 X-N Class O $2,742,000 LO $2,742,000 2 X-O Class P $16,463,349 LP $16,463,349 2 X-P Class MAD $13,555,555 LMAD $13,555,555 3 N/A Class PP $39,958,978 LPP $39,958,978 4 N/A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wachovia Commercial Mortgage Securities Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be Fund created hereunder. The Certificates will consist of four classes of certificates, designated as (i) the Class A Certificates, (ii) the Class S Certificates, (iii) the Class P Certificates and (iv) the Class R Certificates. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make an election to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated (exclusive of the Pre-Funding Account, the Interest Coverage Account, the Reserve Funds, the Yield Maintenance Agreement and the Initial Deposit Account) as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, and such segregated asset pool of assets will be designated as “"REMIC I”. I." The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute Interest will represent the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Designation Uncertificated REMIC I Regular Interests(1) REMIC I Initial Uncertificated Assumed Final Pass-Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Maturity Date (1) ------------------- -------------------------------- ----------------------------- ----------------- LTA Variable(2) $[_________] XA-FL134,999,900.00 December 2029 LTB Variable(2) $15,000,000.00 December ▇▇▇▇ ▇▇▇ Variable(2) $100.00 December 2029
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Option One Mort Ln Tr 1999-3 Asset Backed Cert Ser 1999-3)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Mortgage Loans (as defined herein). On or prior to any Subsequent Transfer Date, the Depositor acquired the Subsequent Mortgage Loans, which will be sold to the Trust to be created hereunderon the related Subsequent Transfer Date. As provided herein, the Trustee will elect that two make, in accordance with Section 9.12, an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of the Class A-FL Regular Interestas defined herein), the Class A-FL Swap Contractand subject to this Agreement, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a “REMIC”) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. I.” The REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “residual interests” in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” and the Trustee will make, in accordance with Section 9.12, a separate REMIC election with respect thereto. The Class A, Class A-IO, Class M-1, Class M-2, Class M-3, Class M-IO-1 Interest, Class M-IO-2 Interest and Class M-IO-3 Interest (the Class M-IO-1 Interest, Class M-IO-2 Interest and Class M-IO-3 Interest is beneficially owned by the holders of the Class M-IO Certificates), Class B-1, Class B-2 and Class B-3 Certificates will be “regular interests” in REMIC II, and the Class R-II Certificates will be the sole class of “residual interests” therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for the REMIC I Regular Interests. The REMIC I Regular Interests will not be certificated. REMIC I Regular Interest (the “Corresponding Designation REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class APass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Initial Uncertificated Principal Balance [Corresponding Components of Class X Certificates(1)] Class Latest Possible Maturity Date(1) A LA $[Variable (2) $ 745,092,400.00 February 25, 2036 M-1 Variable (2) $ 16,120,000.00 February 25, 2036 M-2 Variable (2) $ 9,829,000.00 February 25, 2036 M-3 Variable (2) $ 5,111,000.00 February 25, 2036 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrilll Lynch Mortgage Investors Trust, Series 2005-A10)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II" and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class I-A-1 Certificates, Class I-A-2 Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates and Class B-3 Certificates, will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of this Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”Interests will be certificated. INITIAL UNCERTIFICATED UNCERTIFICATED LATEST REMIC I PRINCIPAL POSSIBLE DESIGNATION PASS-THROUGH RATE BALANCE MATURITY(1) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Uncertificated REMIC I Regular Interests(1Variable(2) $1,023.73 February 25, 2036 Interest I-A Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class Regular Variable (2) $21,475.74 February 25, 2036 Interest I-B Uncertificated REMIC I Regular Variable(2) $227.78 February 25, 2036 Interest II-A LA Uncertificated REMIC I Regular Variable(2) $[4,778.22 February 25, 2036 Interest II-B Uncertificated REMIC I Regular Variable(2) February 25, 2036 Interest ZZZ $275,026,889.53 Uncertificated REMIC I Regular Variable(2) $50 February 25, 2036 Interest R-II _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL _ (1) For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Uncertificated REMIC I Regular Interest LA-FL(2) $[_________] XA-FLInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006-SA1Trust)
PRELIMINARY STATEMENT. The Depositor intends to sell FDIC REMIC Trust 1996-C1 Commercial Mortgage Pass-Through Certificates, to Series 1996-C1 (collectively, the "Certificates"), will be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee will elect or will cause an election to be made, as required by federal law (and, if applicable, state law), in order that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets assets, consisting of the Mortgage Loans (exclusive of Excess Interest) Assets and certain other related assets subject to this Agreement shall Agreement, be treated for federal (and, if applicable, state) income tax purposes as a REMIC for federal income tax purposesreal estate mortgage investment conduit (a "REMIC"), and such segregated asset pool of assets will be designated as “the "Lower-Tier REMIC". Seven uncertificated partial undivided beneficial ownership interests in the assets of the Lower-Tier REMIC I”. The REMIC I Regular Interests listed below under (collectively, the heading “Corresponding REMIC I "Uncertificated Regular Interests” constitute “") will be the "regular interests” " in REMIC I the Lower-Tier REMIC, and the Class R-I LT Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder the Lower-Tier REMIC, for purposes of the REMIC Provisions. The segregated pool of assets consisting of the Uncertificated Regular Interests will be designated as the "Upper-Tier REMIC", and the Trustee will make, or cause to be made, a separate REMIC election with respect thereto. The Class I-A, Class I-B, Class I-C and Class I-D Certificates (collectively, the "Sub-Pool I Certificates"), the Class II-A, Class II-B and Class II-C Certificates (collectively, the "Sub-Pool II Certificates"), the Class I-XS Certificates and the Class II-XS Certificates will be the "regular interests" in the Upper-Tier REMIC, and the Class R-UT Certificates will be the sole class of "residual interests" in the Upper-Tier REMIC, for purposes of the REMIC Provisions; provided, however, that the portion of the Sub-Pool II Certificates consisting of the Contract Rights (as defined in Section 1.01) shall not be designated as REMIC regular interests. The following table irrevocably sets forth the Class or Component designation, initial Uncertificated Principal Balance and Latest Possible Maturity Date for the corresponding REMIC I Uncertificated Regular Interests. Initial Uncertified Designation Principal Balance Latest Possible Maturity Date(1) ----------- ----------------- -------------------------------- Uncertificated Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtI-A $445,218,000 May 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL 2026 Uncertificated Regular Interest LAI-FL(2) B $ 32,979,000 May 25, 2026 Uncertificated Regular Interest I-C $ 27,483,000 May 25, 2026 Uncertificated Regular Interest I-D $ 43,972,693 May 25, 2026 Uncertificated Regular Interest II-A $[_________] XA140,168,000 November 25, 2026 Uncertificated Regular Interest II-FLB $ 15,018,000 November 25, 2026 Uncertificated Regular Interest II-C $ 11,680,806 November 25, 2026
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Fdic Remic Trust 1996-C1)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (Fund, exclusive of the Class A-FL A-2F Regular Interest, the Class A-FL Swap ContractDocuments, the Class A-FL Floating Rate Account, the Excess Interest and the Excess Interest Distribution Account) , be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“"REMIC I” " and “"REMIC II”, " described herein respectively). As provided hereinThe Class A-1, Class A-2, Class XC, Class XP, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class O, Class P and Class Q Certificates and the Trustee will elect to treat Class A-2F Regular Interest constitute "regular interests" in REMIC II, and the segregated pool Class R-II Certificates constitute the sole Class of assets consisting "residual interest" in REMIC II for purposes of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”Provisions. The REMIC I Regular Uncertificated Interests listed below in this Preliminary Statement under the heading “"Corresponding REMIC I Regular Interests” " constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute the sole Class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions. The portion of the Trust Fund consisting of the (i) the Class A-2F Regular Interest and the Swap Documents, and all payments thereunder, (ii) the Floating Rate Account and all amounts held from time to time in the Floating Rate Account; (iii) Excess Interest and (iv) the Excess Interest Distribution Account shall be treated as a grantor trust (the "Grantor Trust") for federal income tax purposes. The Class Q Certificates represent beneficial interests in the portion of the Grantor Trust representing Excess Interest and the Excess Interest Distribution Account for federal income tax purposes. The Class A-2F Certificates will represent beneficial interests in the portion of the Grantor Trust representing the Class A-2F Regular Interest, the Swap Documents and the Floating Rate Account for federal income tax purposes. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [Pass-Through Rate, and the Corresponding Components Initial Class Principal Balance for each of the Class X Certificates] for each Class Classes of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of and the Class AA-2F Certificates: Initial Initial Class Designation Pass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Principal Balance [Corresponding Components of ----------- ----------------- ----------------- Class X Certificates(1)] A-1 4.9070% per annum $131,224,107 Class A LA A-2 5.7870% per annum $[_________] XA 563,136,797 Class A-2F LIBOR + 0.45% $ 37,500,000 Class B LB $[_________] XB 6.0100% per annum $ 37,531,329 Class C LC $[_________] 6.1100% per annum $ 9,382,832 Class D 6.1880% per annum $ 11,728,540 Class E 6.2280% per annum $ 18,765,664 Class F 6.3260% per annum $ 11,728,540 Class G 6.6690% per annum $ 14,074,248 Class H 6.7690% per annum $ 14,074,248 Class J 7.1660% per annum(1) $ 11,728,541 Class K 6.1500% per annum $ 18,765,664 Class L 6.1500% per annum $ 14,074,248 Class M 6.1500% per annum $ 7,037,124 Class N 6.1500% per annum $ 11,728,540 Class O 6.1500% per annum $ 4,691,416 Class P 6.1500% per annum $ 4,691,416 Class Q 6.1500% per annum $ 16,419,957 Class XC Class A-FL Regular Interest LA-FL(2Variable(2) $[_________] XA-FL501,273,702(3) Class XP Variable(2) $938,283,211(3) ---------------------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. Uncertificated REMIC I Pass-Through Initial Uncertificated Latest DESIGNATION Rate Principal Balance Possible Maturity(1) REMIC I Regular Interest (the “Corresponding 5.00% U $50,000,000.00 December 25, 2032 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest 6.00% V $193,300,012.57 December 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2032 REMIC I Regular Interests(1) Interest 4.25% W $26,178,236.00 December 25, 2032 REMIC I Principal Balance [Corresponding Components of Class Regular Interest 8.50% X Certificates(1)] Class A LA $[18,324,764.00 December 25, 2032 REMIC I Regular Interest 8.50% Y $20,000,000.00 December 25, 2032 REMIC I Regular Interest 0.00% Z $2,371,569.13 December 25, 2032 REMIC I December 25, 2032 IO Regular Interests Variable (2) N/A(3) _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust definition of REMIC I (as defined herein), and subject to this Agreement (including the Mortgage Loans but excluding the Reserve Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution AccountInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-8A Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A- 12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interest (Interests. None of the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding Interests will be certificated. Uncertificated REMIC I Regular Interests(1Pass- Initial Uncertificated Latest Designation Through Rate Principal Balance Possible Maturity(1) ----------- ------------ ------------------------ -------------------- Uncertificated REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[6.75% $ 444,372,034.72 June 25, 2031 Regular Interest T Uncertificated REMIC I 6.75% $ 40,000,000.00 June 25, 2031 Regular Interest U Uncertificated REMIC I 6.50% $ 169,281,900.00 June 25, 2031 Regular Interest V Uncertificated REMIC I 9.00% $ 18,809,100.00 June 25, 2031 Regular Interest W Uncertificated REMIC I 0.00% $ 1,367,508.75 June 25, 2031 Regular Interest Y Uncertificated REMIC I Variable (2) N/A(3) June 25, 2031 IO Regular Interests _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Rounding Account, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Reserve Fund and the Excess Interest Distribution AccountInitial Monthly Payment Fund), as a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A- 13 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST -REMIC-I-PASS---------PRINCIPAL-BALANCE------POSSIBLE-MATURITY(1) DESIGNATION THROUGH RATE REMIC I Regular Interest (the “Corresponding 6.25% $ 101,580,138.51 September 25, 2032 R REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest 6.00% $ 40,000,000.00 September 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2032 S REMIC I Regular Interests(1) Interest 6.25% $ 15,181,000.00 September 25, 2032 T REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(26.25% $ 18,624,000.00 September 25, 2032 U REMIC I Regular Interest 6.25% $ 236,000.00 September 25, 2032 V REMIC I Regular Interest 8.50% $ 32,222,223.00 September 25, 2032 W REMIC I Regular Interest 5.75% $ 50,000,000.00 September 25, 2032 X REMIC I Regular Interest 5.50% $ 50,000,000.00 September 25, 2032 Y REMIC I Regular Interest 0.00% $ 1,887,805.66 September 25, 2032 Z REMIC I Variable (2) $[_________] XA-FLN/A(3) September 25, 2032 IO Regular Interests -------------------
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 9.01, an election to treat the entire segregated pool of assets consisting described in the definition of the Mortgage Loans REMIC I (exclusive of Excess Interest) as defined herein), and certain other related assets subject to this Agreement shall be treated (including the Mortgage Loans), as a REMIC real estate mortgage investment conduit (a "REMIC") for federal income tax purposes, purposes and such segregated asset pool of assets will be designated as “"REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under will be the heading “Corresponding REMIC I Regular Interests” constitute “"regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC ProvisionsProvisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the Trustee will make, in accordance with Section 9.01, a separate REMIC election with respect thereto. The Class I-A-1, Class I-A-2, Class I-A-IO, Class II-A-1, Class II-A-IO, Class III-A-1, Class III-A-IO, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates will be "regular interests" in REMIC II, and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for the Uncertificated REMIC I Regular Interest. The Uncertificated REMIC I Regular Interests will not be certificated. Uncertificated REMIC I Regular Interest (the “Corresponding Uncertificated REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class AInitial Uncertificated Latest Possible Designation Pass-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Through Rate Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2Maturity Date(1) LTIA Variable (2) $[______________] XA-FL_________ 25, ____ LTIB Variable (2) $[______________] _________ 25, ____ LTIIA Variable (2) $[______________] _________ 25, ____ LTIIB Variable (2) $[______________] _________ 25, ____ LTIIIA Variable (2) $[______________] _________ 25, ____ LTIIIB Variable (2) $[______________] _________ 25, ____ _____________________________
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Cendant Mortgage Capital LLC)
PRELIMINARY STATEMENT. The Depositor intends to sell mortgage pass-through certificates (collectively, the “Certificates”), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided Mortgage Loans (as defined herein, the Trustee will elect that two segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect make, in accordance with Section 8.12, an election to treat the entire segregated pool of assets described in the definition of REMIC 1 (as defined herein) (excluding the Cap Contract and the Cap Contract Account), and subject to this Agreement, as a real estate mortgage investment conduit (a “REMIC”) for federal income tax purposes and such segregated pool of assets will be designated as “REMIC 1.” The REMIC 1 Regular Interests will be the “regular interests” in REMIC 1 and the Class R-1 Interest will be the sole class of “residual interests” in REMIC 1 for purposes of the REMIC Provisions (as defined herein) under the federal income tax law. A segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool 1 Regular Interests will be designated as “REMIC I”2” and the REMIC Administrator will make a separate REMIC election with respect thereto. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-1, Class M-2, Class B-1, Class B-2 and Class B-3 Certificates will be “regular interests” in REMIC I 2, and the Class R-I Certificates constitute R-2 Interest will be the sole Class class of “residual interests” in REMIC I created hereunder therein for purposes of the REMIC ProvisionsProvisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (1 Pass-Through Rate, the initial Uncertificated Principal Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “Corresponding latest possible maturity date” for the REMIC I 1 Regular Interest”. The REMIC 1 Regular Interests will not be certificated. Designation REMIC 1 Pass-Through Rate Uncertificated Principal Balance Latest Possible Maturity Date(1) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”AA Variable(2) (for the avoidance of doubt$ 311,034,796.49 May 25, in the case of the Class 2035 A-FL CertificatesI-1 Variable(2) $ 2,595,080.00 May 25, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(12035 M-1 Variable(2) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[$ 101,560.00 May 25, 2035 M-2 Variable(2) $ 74,580.00 May 25, 2035 B-1 Variable(2) $ 52,370.00 May 25, 2035 B-2 Variable(2) $ 15,870.00 May 25, 2035 B-3 Variable(2) $ 33,330.00 May 25, 2035 ZZ Variable(2) $ 3,186,517.91 May 25, 2035 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2005-A3)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in owner of the Trust Fund that is hereby conveyed to be created hereunderthe Trustee in return for the Certificates. As provided herein, the Trustee will elect that two make multiple elections to treat segregated pools of assets within the Trust Fund (exclusive of the Class A-FL Regular Interest, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account) be treated subject to this Agreement for federal income tax purposes (exclusive of the Corridor Contract and the assets held in the Reserve Fund) as two the following four separate real estate mortgage investment conduits (“each, a "REMIC"): REMIC I” 1, REMIC 2, REMIC 3 and “the Master REMIC. REMIC II”, respectively1 will consist of all of the assets constituting the Trust Fund other than the regular interests issued by the REMICs created hereunder. REMIC 1 will issue uncertificated REMIC regular interests (the "REMIC 1 Regular Interests"). As provided herein, The REMIC 1 Regular Interests will represent the "regular interests" in REMIC 1 and the R-1 Interest will represent the single Class of "residual interest" in REMIC 1. The Trustee will elect to treat hold the segregated pool REMIC 1 Regular Interests for the benefit of assets consisting REMIC 2. REMIC 2 will consist of the Mortgage Loans REMIC 1 Interests and will issue uncertificated REMIC 2 regular interests, which will constitute the regular interests in REMIC 2 (exclusive of Excess Interestthe "REMIC 2 Regular Interests") and certain the Class R-2 Interest, which will represent the single Class of "residual interest" in REMIC 2. The Trustee will hold the REMIC 2 Regular Interests for the benefit of REMIC 3. REMIC 3 will consist of the REMIC 2 Interests and will issue uncertificated REMIC 3 regular interests, which will constitute the regular interests in REMIC 3 (the "REMIC 3 Regular Interests") and the Class R-3 Interest, which will represent the single Class of "residual interest" in REMIC 3. The Trustee will hold the REMIC 3 Regular Interests for the benefit of the Master REMIC. The Master REMIC will consist of the REMIC 3 Interests and will be evidenced by the Certificates, which (other related assets subject to this Agreement shall be treated as a than the Class A-R Certificates) will constitute the regular interests in the Master REMIC (the "Regular Certificates") and the Class R-4 Interest, which will represent the single Class of "residual interest" in the Master REMIC. The Class A-R Certificates will represent the beneficial ownership of each of the Class R-1, Class R-2, Class R-3 and Class R-4 Interests. The "latest possible maturity date" for federal income tax purposes, purposes of all regular and such segregated asset pool residual interests created hereunder will be designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “regular interests” in REMIC I and the Class R-I Certificates constitute the sole Class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth the Class or Component designation, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLLatest Possible Maturity Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2005-10)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunder. As provided herein, the Trustee will elect that two segregated pools owner of assets within the Trust Fund that is hereby conveyed to the Trustee in return for the Certificates. For federal income tax purposes, an election will be made to treat the entire segregated pool of assets described in the definition of REMIC I (as defined herein), and subject to this Agreement (exclusive of the Class A-FL Regular InterestSupplemental Loan Account, Capitalized Interest Account, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest Derivative Contracts and the Excess Interest Distribution AccountDerivative Contract Reserve Fund), as a real estate mortgage investment conduit (a “REMIC”) be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “REMIC I”. I.” The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute will be “regular interests” in REMIC I and the Class R-I Certificates constitute Interest will be the sole Class class of “residual interests” in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the REMIC I Regular Interests will be designated as “REMIC II,” a separate REMIC election will be made with respect thereto. The REMIC II Regular Interests will be “regular interests” in REMIC II and the Class R-II Interest will be the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the REMIC II Regular Interests will be designated as “REMIC III,” a separate REMIC election will be made with respect thereto. The Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-8, Class 1-A-9, Class 1-A-10, Class 1-A-11, Class 1-A-12, Class 1-A-13, Class 1-A-14, Class 1-A-15, Class 1-A-16, Class 1-A-17, Class 1-A-18, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 1-X, Class 2-X, Class PO, Class M, Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class P Certificates will be “regular interests” (exclusive of the right of the Holders of the Class 1-A-1, Class 1-A-4, Class 1-A-9 and Class 1-A-13 Certificates to receive the related Yield Supplement Amount) in REMIC III and the Class R-III Interest will be the sole class of “residual interests” therein for purposes of the REMIC Provisions. The Class A-R Certificates will represent ownership of the Class R-I Interest, Class R-II Interest and Class R-III Interest. For the avoidance of doubt and as described above, the Trust Fund will be treated for federal income tax purposes as three REMICs. The following table irrevocably sets forth the Class or Component designation, the corresponding REMIC I Pass-Through Rate, the initial Uncertificated Principal Balance, and for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC I Regular Interest (Interests. None of the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubt, in the case of the Class AInterests will be certificated. 1-FL Certificates, “Corresponding Certificates” shall mean the Class ASUB 5.50% $ 25,916.34 October 2035 1-FL Regular Interest): Corresponding Certificates Corresponding REMIC I Regular Interests(1) REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[ZZZ 5.50% $ 439,209,420.46 October 2035 1-PO 0.00% $ 16,092.36 October 2035 2-SUB 6.00% $ 4,405.11 October 2035 2-ZZZ 6.00% $ 74,642,701.36 October 2035 2-PO 0.00% $ 1,365.37 October 2035 R 5.50% $ 100.00 October 2035 P 0.00% $ 100.00 October 2035 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Alternative Loan Trust 2005-J10)
PRELIMINARY STATEMENT. The Depositor Company intends to sell Mortgage Pass-Through Certificates (collectively, the "Certificates"), to be issued hereunder in multiple Classesclasses, which in the aggregate will evidence the entire beneficial ownership interest in the Trust to be created hereunderFund. As provided herein, the Trustee REMIC Administrator will elect that two make an election to treat the entire segregated pools pool of assets within described in the Trust Fund definition of REMIC I (exclusive of as defined herein), and subject to this Agreement (including the Class A-FL Regular InterestMortgage Loans but excluding the Initial Monthly Payment Fund), the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Accountas a real estate mortgage investment conduit (a "REMIC") be treated for federal income tax purposes as two separate real estate mortgage investment conduits (“REMIC I” and “REMIC II”, respectively). As provided herein, the Trustee will elect to treat the such segregated pool of assets consisting of the Mortgage Loans (exclusive of Excess Interest) and certain other related assets subject to this Agreement shall be treated as a REMIC for federal income tax purposes, and such segregated asset pool will be designated as “the "REMIC I”. I." The Uncertificated REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “will be "regular interests” " in REMIC I and the Class R-I Certificates constitute will be the sole Class class of “"residual interests” " in REMIC I created hereunder for purposes of the REMIC Provisions (as defined herein). A segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests will be designated as "REMIC II," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and the Uncertificated Class A-V REMIC Regular Interests will be "regular interests" in REMIC II and the Class R-II Certificates will be the sole class of "residual interests" therein for purposes of the REMIC Provisions. The Class A-V Certificates will represent the entire beneficial ownership interest in the Uncertificated Class A-V REMIC Regular Interests. The terms and provisions of the Standard Terms are hereby incorporated by reference herein as though set forth in full herein. If any term or provision contained herein shall conflict with or be inconsistent with any provision contained in the Standard Terms, the terms and provisions of this Series Supplement shall govern. Any cross-reference to a section of the Pooling and Servicing Agreement, to the extent the terms of the Standard Terms and Series Supplement conflict with respect to that section, shall be a cross-reference to the related section of the Series Supplement. All capitalized terms not otherwise defined herein shall have the meanings set forth in the Standard Terms. The Pooling and Servicing Agreement shall be dated as of the date of the Series Supplement. The following table irrevocably sets forth the Class or Component designation, the corresponding Uncertificated REMIC I Pass- Through Rate, the initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each of the Uncertificated REMIC I Regular Interests. None of the Uncertificated REMIC I Regular Interests will be certificated. UNCERTIFICATED INITIAL UNCERTIFICATED LATEST -REMIC-I-PASS PRINCIPAL-BALANCE POSSIBLE-MATURITY(1) DESIGNATION THROUGH RATE REMIC I Regular Interest (the “Corresponding X 5.50% $ 255,362,255.21 October 25, 2017 REMIC I Regular Interest”) [and the Corresponding Components of the Class X Certificates] for each Class of the REMIC II Regular Certificates (the “Corresponding Certificates”) (for the avoidance of doubtInterest Y 5.50% $ 25,000,000.00 October 25, in the case of the Class A-FL Certificates, “Corresponding Certificates” shall mean the Class A-FL Regular Interest): Corresponding Certificates Corresponding 2017 REMIC I Regular Interests(1) Interest Z 0.00% $ 259,556.41 October 25, 2017 REMIC I Principal Balance [Corresponding Components of Class X Certificates(1)] Class A LA $[IO Regular Interests Variable (2) N/A(3) October 25, 2017 _________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FL
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
PRELIMINARY STATEMENT. The Depositor intends to sell Certificates, to be issued hereunder in multiple Classes, which in is the aggregate will evidence the entire beneficial ownership interest in owner of the Trust Fund that is hereby conveyed to be created hereunderthe Trustee in return for the Certificates. The Trust Fund is being conveyed to the Trustee to create a trust for the benefit of the Certificateholders. As provided herein, the Trustee will elect an election shall be made that two segregated pools of assets within the Trust Fund (exclusive of (i) the right to receive or the obligation to pay Net Rate Carryover Amounts to the extent such amounts would result in the payment of interest reflecting an interest rate exceeding the Group I REMIC Maximum Rate, (ii) the obligation to pay Swap Termination Payments or any Class AI Distribution Amounts, (iii) the Group I Cap 1 Account, (iv) the Group I Cap 1 Agreement (v) the Group I Cap 2 Account, (vi) the Group I Cap 2 Agreement, (vii) the Group I Swap Account, (viii) the Group I Swap Agreement, (ix) the Supplemental Interest Trust, (x) any Class II-FL Regular InterestP Prepayment Charges and (xi) the Carryover Reserve Fund (collectively, the Class A-FL Swap Contract, the Class A-FL Floating Rate Account, Excess Interest and the Excess Interest Distribution Account“Excluded Trust Assets”)) be treated for federal income tax purposes as two separate comprising eight real estate mortgage investment conduits under Section 860D of the Code (each a “REMIC” or, in the alternative “REMIC IA,” “REMIC IIA,” “REMIC IIIA,” “REMIC IVA,” “REMIC VA,” “Master REMIC I,” “Class I-C REMIC,” “Class I-P REMIC,” “REMIC IB,” “Master REMIC II,” and “Class II-P REMIC”). For purposes of the REMIC Provisions, each Group I Certificate, other than the Class I-R, Class R-X, Class I-P, and Class I-C Certificates and exclusive of the right receive or the obligation to pay any Net Carryover Amounts reflecting any interest rate in excess of the Group I REMIC Maximum Rate, represents ownership of a regular interest in Master REMIC I. For purposes of the REMIC Provisions, each Group II Certificate (other than the Class II-P, Class II-A-LR and Class II-A-UR Certificates, the Exchangeable Certificates and the Exchangeable REMIC Certificates) and the Uncertificated REMIC Intereststs represent ownership of a regular interest in Master REMIC II”, respectively). As provided herein, the Trustee will elect to treat the segregated pool of assets consisting The Class I-R Certificate represents ownership of the Mortgage Loans (exclusive sole class of Excess Interest) residual interest in each of REMIC IA, REMIC IIA, REMIC IIIA, REMIC IVA, REMIC VA and certain other related assets subject to Master REMIC I. The Class II-A-LR Certificate represents ownership of the sole class of residual interest in REMIC IB and the Class II-A-UR Certificate represents ownership of the sole class of residual interest in Master REMIC II. The Class R-X Certificate represents ownership of the sole class of residual interest in the Class I-C REMIC and the Class I-P REMIC. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be treated resolved in a manner that preserves the validity of such REMIC elections. The Class I-P REMIC shall hold as a its assets the Class I-P interest issued by the Master REMIC for federal income tax purposesI, and such segregated asset pool will be interest is hereby designated as “REMIC I”. The REMIC I Regular Interests listed below under the heading “Corresponding REMIC I Regular Interests” constitute “a regular interests” interest in REMIC I and the Class RI-I Certificates constitute the sole Class of “residual interests” in P REMIC I created hereunder for purposes of the REMIC Provisions. The following table sets forth Class I-C REMIC shall hold as its assets the Class or Component designationI-C interest issued by the Master REMIC I, the corresponding REMIC I Regular Interest (the “Corresponding REMIC I Regular Interest”) [and the Corresponding Components of such interest is hereby designated as a regular interest in the Class X Certificates] I-C REMIC for each Class purposes of the REMIC II Regular Certificates (Provisions. Master REMIC I shall hold as its assets the “Corresponding Certificates”) (Class I-P Reserve Fund and the uncertificated interests in REMIC VA, other than the LT5-RA interest, and each such interest is hereby designated as a regular interest in REMIC VA for purposes of the avoidance REMIC Provisions. REMIC VA shall hold as its assets the uncertificated interests in REMIC IVA, other than the LT4-RA interest, and each such interest is hereby designated as a regular interest in REMIC IVA for purposes of doubtthe REMIC Provisions. REMIC IVA shall hold as its assets the uncertificated interests in REMIC IIIA, other than the LT3-RA interest, and each such interest is hereby designated as a regular interest in REMIC IIIA for purposes of the REMIC Provisions. REMIC IIIA shall hold as its assets the uncertificated interests in REMIC IIA, other than the LT2-RA interest, and each such interest is hereby designated as a regular interest in REMIC IIA for purposes of the REMIC Provisions. REMIC IIA shall hold as its assets the uncertificated interests in REMIC IA, other than the LT1-RA interest, and each such interest is hereby designated as a regular interest in REMIC IA for purposes of the REMIC Provisions. The REMIC IA shall hold as its assets the property of the Trust Fund relating to the Group I Mortgage Loans, other than the interests in REMIC IVA, REMIC IIIA, REMIC IIA and REMIC IA, and the Excluded Trust Assets. The Class II-P REMIC shall hold as its assets the Class II-P interest issued by the Master REMIC II, and such interest is hereby designated as a regular interest in the case Class II-P REMIC for purposes of the Class AREMIC Provisions. Master REMIC II shall hold as its assets the uncertificated interests in REMIC IB, other than the LT1-FL CertificatesRB interest, “Corresponding Certificates” and each such interest is hereby designated as a regular interest in REMIC IB for purposes of the REMIC Provisions. The REMIC IB shall mean hold as its assets the Class A-FL Regular Interest): Corresponding Certificates Corresponding property of the Trust Fund relating to the Group II Mortgage Loans, other than the interests in REMIC I Regular Interests(1) IB and the Excluded Trust Assets. The startup day for each REMIC I Principal Balance [Corresponding Components created hereby for purposes of Class X Certificates(1)] Class A LA $[_________] XA Class B LB $[_________] XB Class C LC $[_________] XC Class A-FL Regular Interest LA-FL(2) $[_________] XA-FLthe REMIC Provisions is the Closing Date. In addition, for purposes of the REMIC Provisions, the latest possible maturity date for each regular interest in each REMIC created hereby is the Latest Possible Maturity Date.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-1)