REMIC CX. As provided herein, the Trustee will make an election to treat the segregated pool of assets consisting of the Class C Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC CX." The Class R-CX Interest will represent the sole class of "residual interests" in REMIC CX for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Pass-Through Rate, Original Class Certificate 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 CX Regular Interests. Uncertificated REMIC CX Initial Uncertificated Assumed Final Designation Pass-Through Rate Principal Balance Maturity Date(1) -------------------- ----------------------- ---------------- ------------------ Class C Variable(2) $16,719,152.43 June, 2034
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REMIC CX. As provided herein, the Trustee will shall make an election to treat the segregated pool of assets consisting of the Class C Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "“REMIC CX." ” The Class R-CX Interest will shall represent the sole class of "“residual interests" ” in REMIC CX for purposes of the REMIC Provisions (as defined herein) under federal income tax law. The following table irrevocably sets forth the designation, the Pass-Through Rate, Original Class Certificate 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 CX Regular Interests. Uncertificated Class C Variable2 $57,495,803.65 February, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC CX Initial Uncertificated Assumed Final Designation Pass-Through Rate Principal Balance Maturity Date(1) -------------------- ----------------------- ---------------- ------------------ Regular Interest. 2 The Class C Variable(2) $16,719,152.43 JuneCertificates will not accrue interest on their Certificate Principal Balance. Instead, 2034the monthly interest due on the Class C Certificates will be 100% of the interest paid on the Class C Interest.
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Sources: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-1)