UPPER-TIER REMIC Sample Clauses

UPPER-TIER REMIC. The Upper-Tier REMIC will hold the Lower-Tier Regular Interests and will issue the Class A-1, Class A-2, Class A-3, Class A-4, Class A-AB, Class A-BP, Class X-A, Class X-BP, Class X-B, Class A-S, Class B, Class C, Class D, Class X-D, Class E-RR, Class F-RR, Class G-RR and Class H-RR Certificates, representing the “regular interests” in the Upper-Tier REMIC created hereunder. The Upper-Tier REMIC also will issue the uncertificated Class UR Interest, which is the sole Class of “residual interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates. The following table (and related paragraphs) sets forth the designation, the pass-through rate (in the case of the Regular Certificates, the “Pass-Through Rate”) and the aggregate initial principal amount (in the case of the Principal Balance Certificates, the “Original Certificate Balance”), the aggregate initial notional amount (in the case of the Class X Certificates, the “Original Notional Amount”), as applicable, for each Class of Certificates: Class A-1 Certificates 2.222% $ 14,278,000 Class A-2 Certificates 3.278% $ 72,424,000 Class A-3 Certificates 3.205% $ 270,000,000 Class A-4 Certificates 3.469% $ 311,927,000 Class A-AB Certificates 3.313% $ 35,645,000 Class A-BP Certificates 3.837% $ 10,000,000 Class X-A Certificates 0.982995%(1) $ 774,426,000 (2) Class X-BP Certificates 0.500555%(1) $ 10,000,000 (2) Class X-B Certificates 0.384555%(1) $ 44,642,000 (2) Class A-S Certificates 3.752% $ 70,152,000 Class B Certificates 3.953% $ 44,642,000 Class C Certificates 4.337555% $ 56,122,000 Class D Certificates 2.700% $ 28,979,000 Class X-D Certificates 1.637555%(1) $ 28,979,000 (2) Class E-RR Certificates 4.337555% $ 27,142,000 Class F-RR Certificates 4.337555% $ 26,786,000 Class G-RR Certificates 4.337555% $ 10,204,000 Class H-RR Certificates 4.337555% $ 42,091,386 Class R Certificates N/A(3) N/A

UPPER-TIER REMIC. The Upper-Tier REMIC will hold the Lower-Tier Regular Interests and will issue the Class A-1, Class A-2, Class A-3, Class X-A, Class X-B, Class X-D, Class A-S, Class B, Class C, Class D, Class E-RR, Class F-RR, Class G-RR and Class J-RR Certificates, which will evidence the “regular interests” in the Upper-Tier REMIC created hereunder. The Upper-Tier REMIC will also issue the uncertificated Class UR Interest, which is the sole class of “residual interests” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates. The Class UR Interest will not have a Certificate Balance or Notional Amount, will not bear interest and will not be entitled to distributions of Prepayment Premiums or Yield Maintenance Charges. Any Available Funds remaining in the Upper-Tier REMIC Distribution Account after all required distributions under this Agreement have been made to each Class of Regular Certificates will be deemed distributed to the Class UR Interest and shall be payable to the Holders of the Class R Certificates. The foregoing REMIC structure is intended to cause all of the cash from the Mortgage Loans to flow through to the Upper-Tier REMIC as cash flow on the Regular Certificates, without creating any shortfall, actual or potential (other than for credit losses), to any Regular Certificate. To the extent that the structure is believed to diverge from such intention, the parties identifying such ambiguity shall notify the other parties hereto and the parties involved will resolve such ambiguities to accomplish the intended result and will to the extent necessary rectify any drafting errors or seek clarification to the structure without Certificateholder approval (but with guidance of counsel) to accomplish such intention, including, to the extent necessary, making any amendments in accordance with Section 13.01 of this Agreement.

UPPER-TIER REMIC. The Upper-Tier REMIC will hold the Lower-Tier Regular Interests and will issue the Class A-1, Class A-2, Class A-3, Class X-A, Class A-S, Class B, Class X-B, Class E-RR, Class F-RR, Class G-RR, Class J-RR, Class K-RR and Class L-RR Certificates (the “Regular Certificates”) and the Class C, Class C-X1, Class C-X2, Class D, Class D-X1 and Class D-X2 Upper-Tier Regular Interests (the “Exchangeable Upper-Tier Regular Interests”), each of which will represent a “regular interest” in the Upper-Tier REMIC (the “Upper-Tier Regular Interests”) for purposes of the REMIC Provisions. Each regular interest that is represented by a Regular Certificate or an Exchangeable Upper-Tier Regular Interest will have the same alphanumeric designation and initial pass-through rate, principal balance and entitlements as such Regular Certificate or Exchangeable Upper-Tier Regular Interest, as described below under the caption “The Upper-Tier Regular Interests and the Class UR Interest.” The Upper-Tier REMIC will also issue the uncertificated Class UR Interest, which will be the sole class of “residual interests” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates. The Class R Certificates will not have a Certificate Balance or a Notional Amount, bear interest or be entitled to distributions of Prepayment Premiums or Yield Maintenance Charges. Any Available Funds remaining in the Upper-Tier REMIC Distribution Account, after all required distributions under this Agreement have been made to each Class of Upper-Tier Regular Interests will be deemed distributed to the Class UR Interest and shall be payable to the Holders of the Class R Certificates.

UPPER-TIER REMIC. The following table sets forth the Class designation, the approximate initial pass-through rate and the aggregate initial principal amount (the “Original Certificate Balance”) or, in the case of the Class X-A and Class X-D Certificates, notional amount (the “Original Notional Amount”), as applicable, for each Class of Certificates and each Class EC Regular Interest comprising or evidencing the interests in the Upper-Tier REMIC created hereunder: Class Designation Approximate Initial Pass-Through Rate (per annum) Original Certificate Balance / Original Notional Amount Class A-1 1.613% $42,973,000 Class A-2 2.292% $22,079,000 Class A-3 3.524% $33,518,000 Class A-4 3.349% $225,000,000 Class A-5 3.616% $415,175,000 Class A-AB 3.368% $70,409,000 Class X-A(1) 1.356% $861,171,000 Class A-S Regular Interest 3.849% $52,017,000 Class B Regular Interest 4.759% $75,136,000 Class C Regular Interest 4.759% $54,907,000 Class D 2.850% $65,021,000 Class X-D(1) 1.909% $65,021,000 Class E 4.759% $28,898,000 Class F 4.759% $11,560,000 Class G 4.759% $15,894,000 Class H 4.759% $43,347,829 Class R(2) N/A N/A

UPPER-TIER REMIC. Not applicable.

UPPER-TIER REMIC. REMIC 2.

UPPER-TIER REMIC. The Regular Interests will evidence “regular interests” in the Upper-Tier REMIC created hereunder. The Class UT-R Interest will constitute the sole Class of “residual interests” in the Upper-Tier REMIC created hereunder, and will be evidenced by the Class R Certificates.

UPPER-TIER REMIC. As further described in Section 2.11, the Class A, Class B, Class C, Class D, Class E, Class F and Class HRR Certificates will evidence “regular interests” in the Upper-Tier REMIC created hereunder. The Class UT-R Interest will constitute the sole class of “residual interests” in the Upper-Tier REMIC created hereunder and will be evidenced by the Class R Certificates. The following table sets forth the Trust Loan Component corresponding to each Class of Certificates (each, a “Corresponding Trust Loan Component”), the Class designation, the Pass-Through Rate, the initial Trust Loan Component Balance and the aggregate initial Certificate Balance (the “Original Certificate Balance”) for each Class of Regular Certificates and the Class UT-R Interest, as applicable, comprising the interests in the Upper-Tier REMIC created hereunder: Corresponding Trust Loan Component Class Designation Pass-Through Rate (per annum) Initial Trust Loan Component Balance Original Certificate Balance Trust Loan Component A Class A (1) $ 663,900,000 $ 663,900,000 Trust Loan Component B Class B (1) $ 71,800,000 $ 71,800,000 Trust Loan Component C Class C (1) $ 67,000,000 $ 67,000,000 Trust Loan Component D Class D (1) $ 54,700,000(2) $ 54,700,000 Trust Loan Component E Class E (1) $ 157,400,000 $ 157,400,000 Trust Loan Component F Class F (1) $ 203,575,000 $ 203,575,000 Trust Loan Component HRR Class HRR (1) $ 64,125,000 $ 64,125,000 N/A Class UT-R None(3) None(3)

UPPER-TIER REMIC. The Class A-1, Class A-2, Class A-3, Class A-4, Class A-1A, Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class P, Class NR (other than with respect to the right to receive Excess Interest), Class X-1 and Class X-2 Certificates will evidence "regular interests" in the Upper-Tier REMIC created hereunder. The sole Class of "residual interests" in the Upper-Tier REMIC created hereunder will be evidenced by the Class R Certificates. The following table sets forth the designation, the pass-through rate (the "Pass-Through Rate"), the aggregate initial principal amount (the "Original Certificate Balance") or Notional Amount ("Original Notional Amount"), as applicable, and the initial ratings given each Class by the Rating Agencies (the "Original Ratings") for each Class of Certificates comprising the interests in the Upper-Tier REMIC created hereunder: Original Related Pass-Through Rate Original Ratings Certificate (per annum) Certificate Balance S&P/Fitch(1) ----------- ----------- ------------------- ------------ Class A-1(2) 2.8880% $ 86,050,000 AAA/AAA Class A-2(2) 4.2620%(3) $ 114,400,000 AAA/AAA Class A-3(2) 5.1690%(3) $ 82,550,000 AAA/AAA Class A-4(2) 5.3260%(3) $ 282,010,000 AAA/AAA Class A-1A(2) 5.1630%(3) $ 390,394,000 AAA/AAA Class B 5.5720%(4) $ 33,244,000 AA/AA Class C 5.6210%(4) $ 13,009,000 AA-/AA- Class D 5.6700%(4) $ 27,462,000 A/A Class E 5.6870%(5) $ 13,009,000 A-/A- Class F 5.6870%(5) $ 15,899,000 BBB+/BBB+ Class G 5.6870%(5) $ 13,008,000 BBB/BBB Class H 5.6870%(5) $ 18,790,000 BBB-/BBB- Class J 5.4910%(3) $ 15,900,000 BB+/BB+ Class K 5.4910%(3) $ 7,227,000 BB/BB Class L 5.4910%(3) $ 8,672,000 BB-/BB- Class M 5.4910%(3) $ 7,227,000 B+/B+ Class N 5.4910%(3) $ 4,336,000 B/B Class P 5.4910%(3) $ 2,891,000 B-/B- Class NR 5.4910%(3) $ 20,236,016 */* Class X-1 0.1217%(6) $1,156,314,016(7) AAA/AAA Class X-2 0.5829%(6) $1,081,433,000(7) AAA/AAA Class R None None (8) */* ------------------