Class LR Interest definition

Class LR Interest. The uncertificated residual interest in the Lower-Tier REMIC, represented by the Class R Certificates.
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Class LR Interest. The sole class of "residual interest" in the Lower-Tier REMIC.
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Class LR Interest. The residual interest in the Lower Tier REMIC for purposes of the REMIC Provisions.
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Examples of Class LR Interest in a sentence

  • For purposes of the REMIC election in respect of the Lower-Tier REMIC, each Class of Uncertificated Lower-Tier Interests shall be designated as a class of “regular interests” and the Class LR Interest shall be designated as the sole class of “residual interests” in the Lower-Tier REMIC.

  • The Lower-Tier REMIC will also issue the uncertificated Class LR Interest, which is the sole Class of “residual interest” in the Lower-Tier REMIC and is represented by the Class R Certificates.

  • For purposes of the REMIC election in respect of the Lower-Tier REMIC, each Class of Lower-Tier Regular Interests shall be designated as a class of “regular interests” and the Class LR Interest shall be designated as the sole class of “residual interests” in the Lower-Tier REMIC.

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  • The Uncertificated Lower-Tier Interests will represent the "regular interests" and the Class LR Interest shall be the "residual interest" in the Lower-Tier REMIC for purposes of the REMIC Provisions.

  • The Lower-Tier REMIC will also issue the uncertificated Class LR Interest, which is the sole Class of “residual interests” in the Lower-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates.

  • The Lower-Tier REMIC will also issue the uncertificated Class LR Interest, which is the sole Class of “residual interests” in the Lower-Tier REMIC and is represented by the Class R Certificates.

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  • Amounts transferred from the Lower-Tier REMIC Distribution Account to the Upper-Tier REMIC Distribution Account as of the final Distribution Date, shall be distributed in termination and liquidation of the Lower-Tier Regular Interests and the Class LR Interest in accordance with Sections 4.01(a), 4.01(b), 4.01(c), 4.01(e) and 4.01(f).

  • The Class LR Interest (evidenced by the Class R Certificates) 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.


More Definitions of Class LR Interest

Class LR Interest shall be the "residual interest" in the Lower-Tier REMIC. The "Class UR Interest" shall be the "residual interest" in the Upper-Tier REMIC. The portion of the Trust Estate consisting of the Reserve Account, the Yield Maintenance Agreements, the Class P Certificates, the rights of the Offered Certificates to receive Cap Carryover Amounts and the obligation of the Class CE Certificates to pay Cap Carryover Amounts shall not be assets of either REMIC created hereunder, but rather shall be assets of the Grantor Trust. The assets of the Grantor Trust, the Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable: ================================================================================================================== Integral Pass- Minimum Multiples Initial Class Through Denomination/ in Excess Classes Certificate Balance Rate Percentage Interest of Minimum ------------------------------------------------------------------------------------------------------------------ Class A-1 $295,302,000.00 (1) $1,000 $1 ------------------------------------------------------------------------------------------------------------------ Class A-2 $111,958,000.00 (2) $1,000 $1 ------------------------------------------------------------------------------------------------------------------ Class A-3 (3) (3) $1,000 $1 ------------------------------------------------------------------------------------------------------------------ Class M-1 $14,365,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class M-2 $10,898,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class B-1 $7,926,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class B-2 $2,477,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class B...
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Class LR Interest. As defined in the Preliminary Statement.
Sample 1

Related to Class LR Interest

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • Class LB Uncertificated Interest A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Introductory Statement.

  • Class LD Uncertificated Interest A regular interest in the Lower-Tier REMIC, which is held as an asset of the Upper-Tier REMIC and has the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Introductory Statement.

  • Class LE Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Class LC Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Class A Percentage Interest means, as of any date, the percentage determined by dividing the number of Class A Units then held by a holder of Class A Units by the total number of Class A Units then outstanding.

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • Class C Percentage Interest As of any date of determination, with respect to the Class C Certificates, a percentage interest equal to a fraction, the numerator of which is the Class Principal Balance of the Class C Certificates on such date, and the denominator of which is the Class Principal Balance of the Class C Regular Interest on such date.

  • Class R-III Certificate Any one of the Class R-III Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC III for purposes of the REMIC Provisions.