Class R-II Certificate definition
Examples of Class R-II Certificate in a sentence
On the Startup Day, the REMIC II Regular Interests will be designated "regular interests" in such REMIC and the Class R-II Certificate will be designated the "residual interest" in such REMIC.
On the Startup Day, the REMIC II Regular Certificates will be designated "regular interests" in such REMIC and the Class R-II Certificate will be designated the "residual interests" in such REMIC.
The Class R-II Certificate represents ownership of the sole class of residual interest in the Pooling REMIC.
By its acceptance of a Class R or Class R-II Certificate, each holder thereof shall have agreed to such appointment and shall have consented to the appointment of the Trustee as its agent to act on behalf of each REMIC pursuant to the specific duties outlined herein.
The tax matters person with respect to the Pooling REMIC shall be the holder of the Class R-II Certificate.