Constituent REMICs definition

Constituent REMICs. Each of the one or more segregated asset pools designated in Article XII as a REMIC within the Trust Fund.
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Examples of Constituent REMICs in a sentence

  • The Upper-Tier REMIC and the Lower-Tier REMIC shall be the "Constituent REMICs" for purposes of Section 3.11.

  • Any other method of termination or repurchase of the Trust Fund than as set forth above must be based on the receipt by the Trustee of an Opinion of Counsel or other evidence that such termination or repurchase will be part of a "qualified liquidation" within the meaning of Code Section 860F(a)(4)(A), will not adversely affect the status of the Trust Fund as the separate Constituent REMICs under the Code and will not otherwise subject the Trust Fund to any tax.

  • References to the "REMIC" are to the Constituent REMICs constituted by the Trust Fund.

  • References to the “REMIC” are to the Constituent REMICs constituting one or more portions of the Trust Fund.