Upper Clause Samples

Upper. Tier REMIC 1 shall hold the uncertificated interests issued by Middle-Tier REMIC 1, other than the Class MT1-R Interest. Each of the Offered Certificates related to Pool 1 and Pool 2 represent ownership of regular interests in Upper-Tier REMIC 1. Each of the Class 1-AIO, Class 2-A1, Class 2-A2, and Group I Subordinate Certificates also represents the right to receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls. For federal income tax purposes, the Class I-X Certificates represents ownership of regular interests in Upper-Tier REMIC 1 and also represent the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the Class 1-AIO, Class 2-A1, Class 2-A2, and Group I Subordinate Certificates to the extent payable from Pool 1-2 Monthly Excess Cashflow. The Class I-P Certificates represent ownership of regular interests in Upper-Tier REMIC 1. The Class I-R Certificate represents ownership of the sole class of residual interest in Upper-Tier REMIC 1 as well as ownership of the LT1-R and Class MT1-R Interests. Pooling REMIC 2 shall hold the assets of the Trust Fund related to Pool 3, other than any Excluded Trust Assets, and shall issue several uncertificated interests and shall also issue the Class II-LT-R Certificate, which is hereby designated as the sole residual interest in Pooling REMIC 2. Each uncertificated interest in Pooling REMIC 2 is hereby designated as a REMIC regular interest. Lower-Tier REMIC 2 shall hold the uncertificated interests issued by Pooling REMIC 2 and shall issue several uncertificated interests. Each such interest, other than the LT2-R Interest, is hereby designated as a REMIC regular interest. The LT2-R Interest is hereby designated as the sole residual interest in Lower-Tier REMIC 2. Upper-Tier REMIC 2 shall hold the uncertificated interests issued by Lower-Tier REMIC 2, other than the Class LT2-R Interest. Each of the Offered Certificates related to Pool 3 (other than the Exchangeable Certificates) represent ownership of regular interests in Upper-Tier REMIC 2. The Class II-P Certificates represent ownership of regular interests in Upper-Tier REMIC 2. The Class 2-R Certificate represents ownership of the sole class of residual interest in Upper-Tier REMIC 2 as well as ownership of the LT2-R Interest. Pooling REMIC 1 shall issue one uncertificated interest in respect of each Pool 1 and Pool 2 Mortgage Loan held by the Trust on the Closing Date, each of which is hereby designated as ...
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Upper division Exception: The Utah Board of Higher Education, after consulting with the state board, may annually approve additional upper division courses for concurrent enrollment.
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Upper division math, social science and speech courses should be taken at Oregon Tech in order to meet the upper-division credit requirements.
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Upper. Tier Interests UT-A-6, UT-A-9 and UT-A-11 will each bear interest at 3.00% per annum, subject to a cap equal to the Net WAC Rate.
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Upper. Tables: 6 ft collapsible legs, 30 in width 14
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Upper. TIER REMIC ---------------- 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 Multiples Initial Class Certificate Pass-Through Minimum in Excess Classes Balance or Notional Amount Rate Denomination of Minimum ------------------------------------------------------------------------------------------------------------- Class 1-A-1 $24,405,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-2 $46,305,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-3 $2,017,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-4 $2,708,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-5 $2,014,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-6 $2,288,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-7 $2,444,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-8 $3,860,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-9 $3,206,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-10 $2,934,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-11 $10,000,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-12 $1,285,000.00 5.50000% $1,000 $1 ------------------------------------------------------------------------------------------------------------- Class 1-A-13 $583,863....
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Upper. Tier REMIC 1 shall hold the uncertificated interests issued by Middle-Tier REMIC 1, other than the Class MT1-R Interest. Each of the Group 1 Certificates (other than the Residual Certificates) represent ownership of regular interests in Upper-Tier REMIC 1. Each of the Group 1 Certificates (other than the Residual Certificates, Class 1-X Certificates, and Class 1-P Certificates) also represent (i) the right to receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls and (ii) the obligation to pay Class I Shortfalls. For federal income tax purposes, the Class 1-X Certificate also represents the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the Group 1 Certificates and beneficial ownership of the Pool 1 Basis Risk Reserve Fund and the Supplemental Interest Trust. The Class R-1 Certificate represents ownership of the sole class of residual interest in Upper-Tier REMIC 1 as well as ownership of the Class LT1-R and Class MT1-R Interests. Pooling REMIC 2 shall hold the assets of the Trust Fund related to Pool 2, other than any Excluded Trust Assets, and shall issue several uncertificated interests and shall also issue the Class LT-R-2 Certificate, which is hereby designated as the sole residual interest in Pooling REMIC 2. Each uncertificated interest in Pooling REMIC 2 is hereby designated as a REMIC regular interest. Lower-Tier REMIC 2 shall hold the uncertificated interests issued by Pooling REMIC 2 and shall issue several uncertificated interests. Each such interest, other than the Class LT2-R Interest, is hereby designated as a REMIC regular interest. The Class LT2-R Interest is hereby designated as the sole residual interest in Lower-Tier REMIC 2. Upper-Tier REMIC 2 shall hold the uncertificated interests issued by Lower-Tier REMIC 2, other than the Class LT2-R Interest. Each of the Group 2 Certificates (other than the Residual Certificates) represent ownership of regular interests in Upper-Tier REMIC 2. Each of the Group 2 Certificates (other than the Residual Certificates, the Class 2-P Certificates, and the Class 2-X Certificates) also represent the right to receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls. For federal income tax purposes, the Class 2-X Certificate also represents the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the Group 2 Certificates and beneficial ownership of the Pool 2 Basis Risk Reserve Fund and the Class 2-...
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Related to Upper

  • UPPER-TIER REMIC REMIC 4.

  • Cap Notwithstanding the foregoing, the Indemnifying Party shall have no liability (for indemnification or otherwise) with respect to any Losses in excess of the Purchase Price.

  • Class Size GRADE LOADING RATIO MAXIMUM CLASS SIZE 7.01 Students shall not be assigned to any class which has reached the maximum class size except as provided within this article. 7.02 The site/program administrator is required to discuss class size at a member’s request if the member’s class exceeds the loading ratio. 7.03 Instrumental and choral music classes may exceed the maximums by 1.5 times. Physical education classes may exceed the maximum by 1.35. 7.04 The site/program administrator shall make a reasonable effort to schedule English composition classes in grades 9-12 with a maximum of 29 students. 7.05 The site/program administrator shall make a reasonable effort to schedule combination classes in which students are assigned to more than one grade level K-3 or 3-4 with a maximum of 29 students and 4-6 with a maximum of 30 students. 7.06 The District will make a reasonable effort, within the financial constraints of the District, to reduce class size maximums in those classes into which special education students are integrated, in remedial classes, and in high school composition classes. 7.07 Special Education Classes shall not exceed the maximum cited in the law. 7.07.1 SDC Class Size SDC 7-12 non-severe caseload maximum shall be 26 beginning July 2002; RSP caseload shall be 28; a. The District shall make a reasonable effort to equalize class sizes as determined by the class roster throughout the District within the grade levels and programs consistent with the needs of the students as set forth in his/her IEP and the unique features of each group. “Reasonable effort” may include, but is not limited to include, busing students on a voluntary basis to other sites, moving students to other classes at that site, or adding an instructional aide. b. Except for Hearing Impaired, Visually Handicapped Preschool, SED, and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Center classes, average class size within the SDC program in the District shall not exceed 12 students. The class size for any specific class shall not exceed 17 students. In Hearing Impaired, Visually Handicapped Preschool, SED, and ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ Center classes, the District class size average shall not exceed 10, and any individual class shall not exceed 14. c. The District and the Association agree to establish a Special Education/General Education Oversight Committee composed of seven members of which a majority are teachers. The committee shall recognize that consensus is the preferable decision making process. In cases where consensus is not achievable, all decisions and recommendations shall require five (5) votes. The oversight committee shall be established to oversee, guide, and facilitate the following initiatives: i. Two-year K-12 pilot program that shall include no more than six

  • REMIC The Mortgage Loan is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but determined without regard to the rule in Treasury Regulations Section 1.860G-2(f)(2) that treats certain defective mortgage loans as qualified mortgages), and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and (B) either: (a) such Mortgage Loan is secured by an interest in real property (including permanently affixed buildings and distinct structural components, such as wiring, plumbing systems and central heating and air-conditioning systems, that are integrated into such buildings, serve such buildings in their passive functions and do not produce or contribute to the production of income other than consideration for the use or occupancy of space, but excluding personal property) having a fair market value (i) at the date the Mortgage Loan was originated at least equal to 80% of the adjusted issue price of the Mortgage Loan (together with any related Pari Passu Companion Loans) on such date or (ii) at the Closing Date at least equal to 80% of the adjusted issue price of the Mortgage Loan (together with any related Pari Passu Companion Loans) on such date, provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan; or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Treasury Regulations Section 1.860G-2(a)(1)(ii)). If the Mortgage Loan was “significantly modified” prior to the Closing Date so as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause (B)(a)(ii), including the proviso thereto. Any Prepayment Premiums and Yield Maintenance Charges applicable to the Mortgage Loan constitute “customary prepayment penalties” within the meaning of Treasury Regulations Section 1.860G-1(b)(2). All terms used in this paragraph shall have the same meanings as set forth in the related Treasury Regulations.

  • REMIC III On each Distribution Date, following the distributions with respect to the Principal Balance Certificates on such Distribution Date pursuant to Section 6.5, any Collateral Support Deficits with respect to the Principal Balance Certificates on such Distribution Date will be allocated to the respective Classes of Principal Balance Certificates (other than the Exchangeable Certificates) and the respective E▇ ▇▇▇▇▇ III Regular Interests (and correspondingly, the applicable Exchangeable Certificates) as follows: (i) first, to the Class H Certificates, the Class G Certificates, the Class F Certificates, the Class E Certificates and the Class D Certificates, in that order, in each case in reduction of the Aggregate Certificate Balance of the subject Class of Principal Balance Certificates until such Aggregate Certificate Balance is reduced to zero; (ii) second, to the Class C REMIC III Regular Interest (and correspondingly, the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest); (iii) third, to the Class B REMIC III Regular Interest (and correspondingly, the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest); (iv) fourth, to the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest); and (v) fifth, to the Class A-1 Certificates, the Class A-2 Certificates, Class A-SB Certificates, Class A-3 Certificates and Class A-4 Certificates, on a pro rata basis in accordance with, and in reduction of, the respective Aggregate Certificate Balances of such Classes of Principal Balance Certificates until such Aggregate Certificate Balances are reduced to zero.