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. An interest in the Upper-Tier REMIC, as described in footnote (16) to the table entitledThe Certificates” in the Preliminary Statement, which interest shall be evidenced by the rights of the holders of the Class P Certificates to receive Prepayment Premiums with respect to Mortgage Loans.
Class P Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the holders of the Class P Certificate representing the right to distributions as set forth herein and evidencing a regular interest in REMIC II for purposes of the REMIC Provisions.
Class P Interest. Not Applicable.
Class P Interest. An uncertificated interest in the Trust Fund representing the right to distributions as set forth herein and evidencing a Regular Interest in REMIC II.
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 Upper-Tier REMIC 1, as described in footnote (18) to the table entitledThe Certificates” in the Preliminary Statement, which interest shall be evidenced by the rights of the holders of the Class P Certificates to receive Prepayment Premiums with respect to Mortgage Loans.