REMIC I. As provided herein, the Tax Administrator will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of certain amounts payable thereon) and certain other assets as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC I”. The Class R Certificates will evidence ownership of (among other things) the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions. 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 Tax Administrator will elect to treat the segregated pool of assets consisting 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 Certificates will evidence ownership of (among other things) the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions. The following table sets forth the designation, the REMIC II Remittance Rate and the initial Uncertificated Principal Balance for each of the REMIC II Regular Interests. The Latest Possible Maturity Date for each REMIC II Regular Interest is the Rated Final Distribution Date. None of the REMIC II Regular Interests will be certificated. Designation REMIC II Remittance Rate Initial Uncertificated Principal Balance A-1 Variable(1) $189,518,000 A-FX Variable(1) $165,250,000 A-S Variable(1) $82,796,000 B Variable(1) $57,956,000 C Variable(1) $41,398,000 D Variable(1) $27,598,000 E Variable(1) $48,298,000 F Variable(1) $19,319,000 G Variable(1) $19,319,000 H Variable(1) $34,498,065
REMIC I. On each Distribution Date, except as provided in subsection (b) below,
REMIC I. As provided herein, the Trust Administrator will elect to treat the segregated pool of assets consisting of the Mortgage Loans and certain other related assets (other than any Servicer Prepayment Charge Payment Amounts, the Net WAC Rate Carryover Reserve Account, the Cap Account, the Cap Administration Agreement and the Interest Rate Cap Agreement) subject to this Agreement as a REMIC for federal income tax purposes, and such pool of assets will be designated as “REMIC I.” The Class R-I Interest will be the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions (as defined herein). The following table irrevocably sets forth the designation, the REMIC I Remittance Rate, the initial Uncertificated 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 (as defined herein). None of the REMIC I Regular Interests will be certificated. Designation REMIC I Remittance Rate Initial Uncertificated Balance Latest Possible Maturity Date(1) I-LTAA (2) $ 509,737,834.80 March 2037 I-LTA2A (2) $ 1,117,660.00 Mxxxx 0000 X-XXX0X (2) $ 328,415.00 March 2037 I-LTA2C (2) $ 416,555.00 March 2000 X-XXX0X (2) $ 290,825.00 March 2037 I-LTM1 (2) $ 163,845.00 March 2037 I-LTM2 (2) $ 145,640.00 March 2037 I-LTM3 (2) $ 88,420.00 March 2037 I-LTM4 (2) $ 75,420.00 March 2037 I-LTM5 (2) $ 72,820.00 March 2037 I-LTM6 (2) $ 70,220.00 March 2037 I-LTM7 (2) $ 62,415.00 March 2037 I-LTM8 (2) $ 44,215.00 March 2037 I-LTM9 (2) $ 52,015.00 March 2037 I-LTM10 (2) $ 52,015.00 March 2037 I-LTZZ (2) $ 5,352,247.96 March 2000 X-XXX (2) $ 100.00 March 2037 I-LT1SUB (2) $ 509,737,834.80 March 2037 I-LT1GRP (2) $ 2,070,085.00 March 2037 I-LT2SUB (2) $ 1,117,660.00 March 2037 I-LT2GRP (2) $ 328,415.00 March 2037 I-LTXX (2) $ 416,555.00 March 2000 _______________
REMIC I. As provided herein, the Tax Administrator will elect to treat the segregated pool of assets consisting of the Mortgage Loans (exclusive of certain amounts payable thereon) and certain other assets as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC I”. The Class R Certificates will evidence ownership of (among other things) the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions. The Latest Possible Maturity Date for each REMIC I Regular Interest is the date that is the Rated Final Distribution Date. None of the REMIC I Regular Interests will be certificated.
REMIC I. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC I Regular Interests, for the following purposes and in the following order of priority:
REMIC I. As provided herein, with respect to the Trust, the Certificate Administrator on behalf of the Trustee will make an election for the segregated pool of assets described in the first (1st) paragraph of Section 12.1(a) hereof (including the Mortgage Loans (other than any Excess Interest payable with respect to such Mortgage Loans)) to be treated for federal income tax purposes as a REMIC (“REMIC I”). The REMIC I Regular Interests will be designated as the “regular interests” in REMIC I and the Class R Certificates will evidence the sole class of “residual interests” in REMIC I for purposes of the REMIC Provisions.
REMIC I. (a) On each Distribution Date, the Certificate Administrator shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC I Regular Interests, for the following purposes and in the following order of priority:
REMIC I. On each Distribution Date, following the deemed distributions with respect to the REMIC I Regular Interests on such Distribution Date pursuant to Section 6.3, the Collateral Support Deficits, if any, with respect to each REMIC I Regular Interest on such Distribution Date will be allocated to such REMIC I Regular Interest in reduction of the REMIC I Principal Amount of such REMIC I Regular Interest.
REMIC I. As provided herein, the Trust Administrator will make an election to treat the segregated pool of assets consisting of the Group 1, Group 2, Group 3, Group 4, Group 5 and Group 6 Mortgage Loans and certain other related assets (exclusive of any entitlement to Assigned Prepayment Premiums, the Interest Rate Cap Agreement and the assets held in the Interest Rate Cap Account) 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 I.” Component I of the Class AR-L 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”) 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 Maturity Date. None of the REMIC I Regular Interests will be certificated. Class Designation for each REMIC I Regular Interest and Component I of the Class AR-L Certificates Type of Interest Uncertificated REMIC I Pass-Through Rate Initial Uncertificated Principal Balance or Class Principal Balance Final Maturity Date* Class Y-1 Regular Variable(1) $ 19,107.02 October 2035 Class Y-2 Regular Variable(2) $ 79,793.27 October 2035 Class Y-3 Regular Variable(3) $ 24,687.48 October 2035 Class Y-4 Regular Variable(4) $ 80,127.02 October 2035 Class Y-5 Regular Variable(5) $ 28,620.88 October 2035 Class Y-6 Regular Variable(6) $ 124,445.02 October 2035 Class Z-1 Regular Variable(1) $ 38,195,924.35 October 2035 Class Z-2 Regular Variable(2) $ 159,510,886.33 October 2035 Class Z-3 Regular Variable(3) $ 49,350,263.46 October 2035 Class Z-4 Regular Variable(4) $ 160,263,859.16 October 2035 Class Z-5 Regular Variable(5) $ 57,214,625.49 October 2035 Class Z-6 Regular Variable(6) $ 248,772,056.16 October 2035 Component I of the Class AR-L Residual Variable(1) $ 50.00 October 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. ...
REMIC I. The segregated pool of assets of the Trust consisting of the REMIC I Assets.
