REMIC Certificate Sample Clauses

A REMIC Certificate clause defines the rights and obligations associated with certificates issued by a Real Estate Mortgage Investment Conduit (REMIC). This clause typically outlines the characteristics of the certificate, such as its entitlement to payments from a pool of mortgage loans, and may specify the procedures for transfer, registration, and payment distributions. By clearly delineating the terms governing REMIC Certificates, the clause ensures that investors understand their interests and the mechanisms for receiving income, thereby promoting transparency and legal certainty in mortgage-backed securities transactions.
REMIC Certificate. The Trust Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the Holders of any of the REMIC Certificates. This Class 8- REMIC Certificate is issuable only as a registered Class 8- REMIC Certificate. As provided in the Trust Agreement and subject to certain limitations set forth therein, the transfer of this Class 8- REMIC Certificate is registrable in the Certificate Register of ▇▇▇▇▇▇ Mae upon surrender of this Class 8- REMIC Certificate for registration of transfer at the office or agency maintained by ▇▇▇▇▇▇ ▇▇▇ for such purpose, duly endorsed by, or accompanied by a written instrument of transfer in form satisfactory to ▇▇▇▇▇▇ Mae and the Certificate Registrar duly executed by, the Holder hereof or such Holder’s attorney duly authorized in writing, and such other documents as ▇▇▇▇▇▇ ▇▇▇, the Trustee or the Certificate Registrar may require, and thereupon a new Class 8- REMIC Certificate for the same initial Certificate Balance will be issued to the designated transferee. A service charge in an amount determined by ▇▇▇▇▇▇ Mae shall be imposed for any registration of transfer or exchange of this Class 8- REMIC Certificate and ▇▇▇▇▇▇ ▇▇▇ may require payment of a sum sufficient to cover any tax or other governmental charge that may be imposed in connection therewith. ▇▇▇▇▇▇ Mae, the Trustee, the Certificate Registrar and any agent of ▇▇▇▇▇▇ ▇▇▇ or the Trustee may treat the Person in whose name this Class 8- REMIC Certificate is registered as the owner hereof for all purposes, and neither ▇▇▇▇▇▇ Mae nor the Trustee, the Certificate Registrar or any agent of ▇▇▇▇▇▇ ▇▇▇ or the Trustee shall be affected by notice to the contrary. This Class 8- REMIC Certificate and Trust Agreement shall be construed in accordance with, and governed by, the substantive laws of the District of Columbia applicable to agreements made and to be performed therein. This Class 8- REMIC Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the Holder of this Class 8- REMIC Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Unless the certificate of authentication hereon has been executed by or on behalf of the Certificate Registrar by manual or facsimile signature, this Class 8- REMIC Certificate shall not be entitled to any benefit under the Trust Agreement or be valid for any purpose.
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Related to REMIC Certificate

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  • Additional Certificates The Company shall have furnished to the Agents such certificate or certificates, in addition to those specifically mentioned herein, as the Agents may have reasonably requested as to the accuracy and completeness at each Representation Date of any statement in the Registration Statement or the Prospectuses or any documents filed under the Exchange Act and Canadian Securities Laws and deemed to be incorporated by reference into the Prospectuses, as to the accuracy at such Representation Date of the representations and warranties of the Company herein, as to the performance by the Company of its obligations hereunder, or as to the fulfillment of the conditions concurrent and precedent to the obligations hereunder of the Agents.

  • Certificate No 2-A-1-[__] Cut-off Date: October 1, 2002 First Distribution Date: November 25, 2002 Last Scheduled Distribution Date: December 25, 2032 Pass-Through Rate: 3.500% Initial Certificate Principal Balance of this Certificate $[______] ("Denomination"): Initial Certificate Principal Balances of all Certificates $99,624,000 of this Class: CUSIP: 55265K ME 6 MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. MASTR ASSET SECURITIZATION TRUST 2002-7 Mortgage Pass-Through Certificates, Series 2002-7 Class 2-A-1 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of three pools of conventional mortgage loans (the "Mortgage Loans") secured by first liens on one- to four-family residential properties Mortgage Asset Securitization Transactions, Inc., as Depositor Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Principal Balance at any time may be less than the Certificate Principal Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that _______________ is the registered owner of the Percentage Interest evidenced by this Certificate in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by Mortgage Asset Securitization Transactions, Inc. (the "Depositor"). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, UBS Warburg Real Estate Securities Inc., as transferor (the "Transferor"), Wells Fargo Bank Minnesota, N.A., as master servicer (the "Servicer"), ▇▇▇ ▇achovia Bank, National Association, as trustee (the "Trustee"). Distributions on this Certificate will be made primarily from collections on the Mortgage Loans in Loan Group 2 pursuant to the terms of the Agreement. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trustee.

  • Initial Certificate Ownership Since the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5, the Depositor has been the sole Certificateholder.