Common use of REMIC Designations and REMIC Distributions Clause in Contracts

REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX and REMIC X shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group I, the portion of the Protected Account related to Loan Group I, any REO Property related to Loan Group I, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group II, the portion of the Protected Account related to Loan Group II, any REO Property related to Loan Group II, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.

REMIC Designations and REMIC Distributions. (a) The Securities Administrator on behalf of the Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX VII and REMIC X VIII shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the assets in the Distribution Account related to Loan the Group II Mortgage Loans, the portion of the Protected assets in the Master Servicer Collection Account related to Loan the Group II Mortgage Loans, the portion of the assets in the Protected Accounts related to the Group I Mortgage Loans maintained by the Company and the related Servicer, any REO Property related to Loan the Group II Mortgage Loans, any proceeds of the foregoing and any other assets related to Loan the Group I Mortgage Loans subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Interest Rate Swap Agreement, the Group I Swap Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the assets in the Distribution Account related to Loan the Group IIII Mortgage Loans, the portion of the Protected assets in the Master Servicer Collection Account related to Loan the Group IIII Mortgage Loans, the portion of the assets in the Protected Accounts related to the Group II Mortgage Loans maintained by the Company and the related Servicer, any REO Property related to Loan the Group IIII Mortgage Loans, any proceeds of the foregoing and any other assets related to Loan the Group II Mortgage Loans subject to this Agreement (other than the Group II Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Interest Rate Swap Agreement, the Group II Swap Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE C Interest shall constitute the assets of REMIC V. The Class I-P IO Interest shall constitute the assets of REMIC VI. The Class III-IO C Interest shall constitute the assets of REMIC VII. The Class II-CE IO Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X..

REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX and REMIC X shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group I, the portion of the Protected Account related to Loan Group I, any REO Property related to Loan Group I, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account, the Group I Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group II, the portion of the Protected Account related to Loan Group II, any REO Property related to Loan Group II, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account, the Group II Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.

REMIC Designations and REMIC Distributions. (a) The Securities Administrator on behalf of the Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX IV and REMIC X V shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of assets in the Distribution Account related to Loan the Group II Mortgage Loans, the portion of assets in the Protected Master Servicer Collection Account related to Loan the Group II Mortgage Loans, the assets in the Protected Accounts related to the Group I Mortgage Loans maintained by the Company and the Servicer, any REO Property related to Loan the Group II Mortgage Loans, any proceeds of the foregoing and any other assets related to Loan the Group I Mortgage Loans subject to this Agreement (other than the Group I Reserve Fund, Fund and any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account and any rights or obligations in respect of the Swap Administration AgreementAmounts). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of assets in the Distribution Account related to Loan the Group IIII Mortgage Loans, the portion of assets in the Protected Master Servicer Collection Account related to Loan the Group IIII Mortgage Loans, the assets in the Protected Accounts related to the Group II Mortgage Loans maintained by the Company and the Servicer, any REO Property related to Loan the Group IIII Mortgage Loans, any proceeds of the foregoing and any other assets related to Loan the Group II Mortgage Loans subject to this Agreement (other than the Group II Reserve Fund, Fund and any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account and any rights or obligations in respect of the Swap Administration AgreementAmounts). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests Class I-C Interest shall constitute the assets of REMIC IV. The Class III-CE C Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.V.

REMIC Designations and REMIC Distributions. (a) The Securities Administrator on behalf of the Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX V and REMIC X VI shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the related Distribution Account related to Loan Group IAccount, the portion of related Master Servicer Collection Account, the related Protected Account maintained by the Company and the related to Loan Group IServicer, any related REO Property related to Loan Group IProperty, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts Fund and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II IV shall include the Group II Mortgage Loans HELOCs and all interest owing in respect of and principal due thereon, the portion of the related Distribution Account related to Loan Group IIAccount, the portion of related Master Servicer Collection Account, the related Protected Account maintained by the Company and the related to Loan Group IIServicer, any related REO Property related to Loan Group IIProperty, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, any related Prepayment Charge Waiver Amounts Fund and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and shall constitute the assets of REMIC II. The REMIC II Regular Interests and the REMIC IV Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE C Interest shall constitute the assets of REMIC V. The Class I-P IO Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X..

REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX and REMIC X shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group I, the portion of the Protected Account related to Loan Group I, any REO Property related to Loan Group I, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, the Group I Pre-Funding Account, the Group I Interest Coverage Account any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account, the Group I Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group II, the portion of the Protected Account related to Loan Group II, any REO Property related to Loan Group II, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, the Group II Pre-Funding Account, the Group II Interest Coverage Account any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account, the Group II Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.

REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX and REMIC X shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group I, the portion of the Protected Account related to Loan Group I, any REO Property related to Loan Group I, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account, the Group I Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group II, the portion of the Protected Account related to Loan Group II, any REO Property related to Loan Group II, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, Fund and any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account, the Group II Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.

REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX and REMIC X shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group I, the portion of the Protected Account related to Loan Group I, any REO Property related to Loan Group I, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Yield Maintenance Agreement, the Group I Derivative Account and any rights or obligations in respect of the Swap Derivative Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group II, the portion of the Protected Account related to Loan Group II, any REO Property related to Loan Group II, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Yield Maintenance Agreement, the Group II Derivative Account and any rights or obligations in respect of the Swap Derivative Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.

REMIC Designations and REMIC Distributions. (a) The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX and REMIC X shall be treated as a REMIC under Section 860D of the Code. Any inconsistencies or ambiguities in this Agreement or in the administration of this Agreement shall be resolved in a manner that preserves the validity of such REMIC elections. The assets of REMIC I shall include the Group I Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group I, the portion of the Protected Account related to Loan Group I, any REO Property related to Loan Group I, any proceeds of the foregoing and any other assets related to Loan Group I subject to this Agreement (other than the Group I Reserve Fund, any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group I Supplemental Interest Trust, the Group I Swap Agreement, the Group I Swap Account, the Group I Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The assets of REMIC II shall include the Group II Mortgage Loans and all interest owing in respect of and principal due thereon, the portion of the Distribution Account related to Loan Group II, the portion of the Protected Account related to Loan Group II, any REO Property related to Loan Group II, any proceeds of the foregoing and any other assets related to Loan Group II subject to this Agreement (other than the Group II Reserve Fund, the Group II Pre-Funding Account, the Group II Interest Coverage Account any related Prepayment Charge Waiver Amounts and, for the avoidance of doubt, the Group II Supplemental Interest Trust, the Group II Swap Agreement, the Group II Swap Account, the Group II Swap Collateral Account and any rights or obligations in respect of the Swap Administration Agreement). The REMIC I Regular Interests and REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests shall constitute the assets of REMIC IV. The Class I-CE Interest shall constitute the assets of REMIC V. The Class I-P Interest shall constitute the assets of REMIC VI. The Class I-IO Interest shall constitute the assets of REMIC VII. The Class II-CE Interest shall constitute the assets of REMIC VIII. The Class II-P Interest shall constitute the assets of REMIC IX. The Class II-IO Interest shall constitute the assets of REMIC X.