Class UR Interest definition

Class UR Interest. The uncertificated residual interest in the Upper-Tier REMIC, represented by the Class R Certificates.
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Class UR Interest. The sole class of "residual interest" in the Upper-Tier REMIC.
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Class UR Interest. The residual interest in the Upper Tier REMIC for purposes of the REMIC Provisions. Closing Date: March 30, 2010. Code: The Internal Revenue Code of 1986, as it may be amended from time to time.
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Examples of Class UR Interest in a sentence

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

  • The Class UR Interest shall be the "residual interest" in the Upper-Tier REMIC for purposes of the REMIC Provisions.

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

  • SPECIFIC TERMS APPLICABLE TO YOUR SHARE CERTIFICATES Fixed Rate Information.

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

  • For the purposes of the REMIC election in respect of the Upper-Tier REMIC, each Class of the Regular Certificates shall be designated the “regular interests,” and the Class UR Interest shall be designated the sole class of “residual interests” in the Upper-Tier REMIC.

  • The Depositor hereby designates the Classes of Senior Certificates (other than the Class 1-A-R Certificate) and the Classes of Subordinate Certificates as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper Tier REMIC for the purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively.

  • The Certificates (other than the Class 1-A-R Certificate) are referred to collectively as the "Regular Certificates" and shall constitute "regular interests" and the Class UR Interest shall be the "residual interest" in the Upper-Tier REMIC.

  • The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for purposes of Code Section 860G(a)(1) and 860G(a)(2), respectively.

  • The Depositor hereby designates the Upper-Tier Regular Interests as "regular interests" and the Class UR Interest as the single class of "residual interest" in the Upper-Tier REMIC for the purposes of Code Sections 860G(a)(1) and 860G(a)(2), respectively.


More Definitions of Class UR Interest

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-3 $3,220,000.00 (4) $25,000 $1 --------------------------------------------------...
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Class UR Interest. As defined in the Preliminary Statement.
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Related to Class UR Interest

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

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

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

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

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

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

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

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

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

  • 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.

  • Lower Tier Interest As described in the Preliminary Statement.

  • 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.

  • Class R-II Certificate Any one of the Class R-II 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 II for purposes of the REMIC Provisions.

  • Class R-I Certificate Any one of the Class R-I 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 I for purposes of the REMIC Provisions.

  • Class Interest Distribution Amount As to each RCR Class and each Distribution Date, an amount equal to interest accrued during the related Interest Accrual Period (computed on the basis of a 360-day year consisting of twelve 30-day months) at the applicable Interest Rate on the Class Balance thereof immediately prior to such Distribution Date.

  • 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.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class C Current Interest As of any Distribution Date, the interest accrued during the related Accrual Period at the Class C Distributable Interest Rate on a notional amount equal to the aggregate principal balance of the Lower Tier REMIC Regular Interests immediately prior to such Distribution Date, plus the interest portion of any previous distributions on such Class that is recovered as a voidable preference by a trustee in bankruptcy, less any Non-Supported Interest Shortfall allocated on such Distribution Date to the Class C Certificates.

  • Class E Interest Rate means 4.67% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • REMIC III Distribution Amount The REMIC III Available Distribution Amount for any Distribution Date shall be distributed to the Certificates and the Class R-3 Residual Interest in the following amounts and priority:

  • Class A-P Principal Distribution Amount As defined in Section 4.02.

  • 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.