Class P Interest definition

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 P Interest. An interest in the Upper-Tier REMIC, as described in the Preliminary Statement, which interest shall be evidenced by the rights of the Class P Certificates to receive Prepayment Premiums.

Class P Interest. Not applicable.

Examples of Class P Interest in a sentence

• On each Distribution Date the Trustee shall be deemed to have allocated distributions to the REMIC I Regular Interests, REMIC II Regular Interests, Class CE Interest, Class P Interest and Class IO Interest in accordance with Section 5.07 hereof.

• The Class A Certificates, the Mezzanine Certificates, the Class CE Interest and the Class P Interest shall be designated as the Regular Interests in REMIC II and the Class R-II Interest shall be designated as the Residual Interest in REMIC II.

• The Trustee shall not permit the creation of any "interests" in any Trust REMIC (within the meaning of Section 860G of the Code) other than the REMIC I Regular Interests, the Class CE Interest, the Class P Interest and the interests represented by the Certificates.

• The Floating Rate Certificates, the Class CE Interest and the Class P Interest shall be designated as the Regular Interests in REMIC II and the Class R-II Interest shall be designated as the Residual Interest in REMIC II.

• The Class A Certificates, the Mezzanine Certificates, the Class CE Interest, the Class P Interest and the Class Swap-IO Interest shall be designated as the Regular Interests in REMIC III and the Class R-III Interest shall be designated as the Residual Interest in REMIC III.

More Definitions of Class P Interest

Class P Interest. Any of the Class I-P Interest and Class II-P Interest.

Class P Interest. The Upper-Tier Regular Interest as specified and described in the Preliminary Statement and the related footnote thereto.

Class P Interest. An interest in the REMIC UT-1&2, as described in footnote (14) to the table entitled “REMIC UT-1&2” in the Preliminary Statement, which interest shall be evidenced by the rights of the Class P Certificates to receive Prepayment Premiums with respect to the Mortgage Loans in Pool 1 and Pool 2.

Class P Interest means an Interest that has been designated as Class P

Class P Interest. An interest in the Upper-Tier REMIC, as described in footnote (16) to the table entitled “REMIC 3” in the Preliminary Statement, which interest shall be evidenced by the rights of the Class P Certificates to receive Prepayment Premiums.

Class P Interest. An interest in the Upper-Tier REMIC, as described in the Preliminary Statement footnote (19) under the caption “The Certificates.”

Class P Interest. The Class P Interest will represent a “regular interest” in REMIC III for purposes of the REMIC Provisions.