Class R-1 Certificates definition

Class R-1 Certificates. Following the division of the Class R Certificates into two separately transferable, certificated and fully registered certificates in accordance with Section 11(b) hereof, the Class R-1 Certificates, which will represent the Issuing REMIC Residual Interest.

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Class R-1 Certificates. All Certificates bearing the class designation of "Class R-1."

Class R-1 Certificates. The Certificates designated as "Class R-1" on the face thereof in substantially the form attached hereto as Exhibit B, which have been designated as the single class of "residual interest" in REMIC I pursuant to Section 2.01.

Examples of Class R-1 Certificates in a sentence

• The Class R-1 Certificates will be the sole class of Residual Interests (as defined herein) in REMIC I for purposes of the REMIC Provisions (as defined herein).

• The Class R-1 Certificates will represent the sole class of Residual Interests (as defined herein) in REMIC I for purposes of the REMIC Provisions (as defined herein).

• The Trustee hereby accepts the Trust created hereby and accepts delivery of the Trust Fund on behalf of the Trust and acknowledges that it holds the Mortgage Loans for the benefit of the Holders of the REMIC I Regular Interests and the Class R-1 Certificates issued pursuant to this Agreement.

• The Trustee hereby accepts REMIC II created hereby and accepts delivery of the REMIC II Trust Fund on behalf of REMIC II and acknowledges that it holds the REMIC I Regular Interests for the benefit of the Holders of the Certificates (other than the Class R-1 Certificates) issued pursuant to this Agreement.

• Any replacement Certificate issued pursuant to this Section 5.04 shall constitute complete and indefeasible evidence of ownership in the REMIC II Trust Fund (or with respect to the Class R-1 Certificates, the residual ownership interests in the REMIC I Trust Fund) as if originally issued, whether or not the lost or stolen Certificate shall be found at any time.

• All covenants and agreements made by the Company and the Trustee herein with respect to the REMIC I Regular Interests are for the benefit of the Holders from time to time of the Certificates (other than the Class R-1 Certificates).

• The Class R-1 Certificates may not be transferred except to the Master Servicer, the Depositor, or the Trust (or an affiliate of any of them).

• If the Holder of the Class R-1 Certificates fails to advance to the Trust amounts specified in the previous paragraph, the Sponsor will be required to purchase, and the Holder of the Class R-1 Certificates will be required to sell, the Class R-1 Certificates and the Sponsor will assume all of the obligations of the Holder of the R-1 Certificates, including the obligation to make advances as provided in the preceding paragraph.

• If on any Collection Period Principal Collections are insufficient to purchase all Additional Balances, the Holder of the Class R-1 Certificates will advance funds to the Trust to purchase the Additional Balances that were not funded by Principal Collections.

• The Class R-1 Balance will be repaid to the Class R-1 Certificates from Principal Collections on the Mortgage Loans allocated to the Certificates on future Payment Dates and will be entitled to allocation of Interest Collections on the Mortgage Loans.

More Definitions of Class R-1 Certificates

Class R-1 Certificates. That certificate representing certain residual rights to distribution from the REMIC I in substantially the form set forth as Exhibit A hereto.

Class R-1 Certificates. The Certificates designated as "Class R-1" on the face thereof in substantially the form attached hereto as Exhibit B-1, which have been designated as the single class of "residual interest" in the Mortgage Trust Fund pursuant to Section 2.01. Except as otherwise described herein, the Class R-1 Certificates, all of which are related to the Mortgage Loans in Loan Group I, shall be entitled to receive distributions related solely to such Mortgage Loans.