Loan REMIC means, with respect to any Early Defeasance Trust Mortgage Loan, subject to Section 2.06(b), the segregated pool of assets, as to which a separate REMIC election is to be made, consisting of: (i) such Trust Mortgage Loan (for so long as it is subject to this Agreement) and all payments under and proceeds of such Trust Mortgage Loan Received by the Trust after the Closing Date (other than scheduled payments of interest and principal due on or before the Cut-off Date), together with all documents included in the related Mortgage File; (ii) any REO Property acquired in respect of such Trust Mortgage Loan (for so long as it is subject to this Agreement) and all income and proceeds therefrom; (iii) such funds or assets as from time to time are deposited in the Pool Custodial Account, the Collection Account, the Interest Reserve Account and, if established, the Pool REO Account with respect to such Trust Mortgage Loan or any related REO Property; and (iv) insofar as they relate to such Trust Mortgage Loan or any related REO Property, the rights of the Depositor under the UBS/Depositor Mortgage Loan Purchase Agreement (but only if such Trust Mortgage Loan is a UBS Trust Mortgage Loan); provided that none of the Loan REMICs shall include (x) any collections of Additional Interest or (y) the Loss of Value Reserve Fund or any amounts on deposit therein.
Loan REMIC. The 800 Xxxxx Xxxxxx REMIC.
Loan REMIC means, with respect to the [Separately Serviced Mortgage Loan] and each Early Defeasance Mortgage Loan, the segregated pool of assets consisting primarily of such Mortgage Loan, any related REO Property, and any and all payments under and the proceeds of such Mortgage Loan and/or related REO Property received after the date of the related Loan REMIC Declaration.
Examples of Loan REMIC in a sentence
None of the Loan REMIC Regular Interests (if issued in accordance with Section 2.06) will be certificated.
The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to the Loan REMIC Regular Interests, if any, to the Trustee for the benefit of the Holders of the Class R-I Certificates and REMIC II as the holder of the REMIC I Regular Interests.
The Class R-LR Certificates (if issued in accordance with Section 2.06) will represent the sole class of "residual interests" in each and every Loan REMIC, if any, for purposes of the REMIC Provisions under federal income tax law.
A separate Loan REMIC Regular Interest will, on the Closing Date, be issued with respect to, and will thereafter relate to, each Early Defeasance Trust Mortgage Loan, if any, included in a Loan REMIC.
The Legal Final Distribution Date of each Loan REMIC Regular Interest, if any, is the Distribution Date immediately following the third anniversary of the end of the remaining amortization term (as determined as of the Closing Date) of the related Early Defeasance Trust Mortgage Loan.
More Definitions of Loan REMIC
Loan REMIC. Each of the 1414 & 1418 K Street Loan REMIC, the Japan Town Center Loan REMIC, the Riverside on the Jxxxx Loan REMIC and the Storage by Gxxxxx and Napa Valley Wine Storage Loan REMIC.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the One Post Office Square Mortgage B Note as from time to time subject to xxxx Xxxxxxxxx xxx xxx xxxxxxxx xnder and proceeds of the One Post Office Square B Note received after the Closing Date, together with all documents included in the related Mortgage Files and any related Escrow Payments and reserves; (ii) an allocable portion of any REO Property acquired in respect of the One Post Office Square B Note; (iii) Withheld Amounts in the Interest Reserve Account with respect to the One Post Office Square B Note; (iv) the portion of the Certificate Account with respect to the One Post Office Square B Note and the Loan REMIC Distribution Account; (v) any amount held in the Gain-on-Sale Reserve Account with respect to the One Post Office Square B Note; (vi) the rights of the Depositor under Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17 and 18 of the Mortgage Loan Purchase Agreement with respect to the One Post Office Square B Note; and (vii) the rights of the mortgagee under all Insurance Policies with respect to the One Post Office Square B Note.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the Newport Mortgage Loan as from time to time subject to this Agreement and all payments under and proceeds of such Mortgage Loan received after the Closing Date, together with all documents included in the related Mortgage Files and any related Escrow Payments and reserves; (ii) any REO Property acquired in respect of the Newport Mortgage Loan; (iii) Withheld Amounts in the Interest Reserve Account with respect to the Newport Mortgage Loan; (iv) the Newport Collection Account and the Loan REMIC Distribution Account, (v) any amount held in the Gain-on-Sale Reserve Account with respect to the Newport Mortgage Loan, (vi) the rights of the Depositor under Section 2, 3, 9, 10, 11, 12, 13, 14, 16, 17 and 18 of the Mortgage Loan Purchase Agreement with respect to the Newport Mortgage Loan; and (vii) the rights of the mortgagee under all Insurance Policies with respect to the Newport Mortgage Loan.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the 00 Xxxxxxx Xxxxxx Loan as from time to time subject to this Agreement and all payments under and proceeds of the 00 Xxxxxxx Xxxxxx Loan received after the Closing Date, together with all documents included in the related Mortgage Files; (ii) an allocable portion of the Trust Fund's proportionate interest in the Mortgaged Property related to the 11 Madison Loan acquired by the 2004-C10 Trustee; (iii) proceeds of the foregoing in the Certificate Account and the Distribution Account; and (iv) amounts in the Interest Reserve Account allocable to the 00 Xxxxxxx Xxxxxx Loan.
Loan REMIC. With respect to any Loan REMIC Held Mortgage Loan, the REMIC created under the related REMIC Declaration, which REMIC holds such Loan REMIC Held Mortgage Loan and other related assets. Because the Trust Fund will not include any REMIC Held Mortgage Loan as of the Closing Date, there will be no Loan REMIC or related REMIC Declaration. Accordingly, all references in this Agreement to “Loan REMIC” shall be disregarded.
Loan REMIC. The segregated pool of assets subject hereto constituting a portion of the primary trust created hereby and to be administered hereunder with respect to which a separate REMIC election is to be made and consisting of: (i) the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan as from time to time subject to this Agreement and all payments under and proceeds of such Mortgage Loans received after the Closing Date, together with all documents included in the related Mortgage Files and any related Escrow Payments and reserves; (ii) any REO Property acquired in respect of the Battlefield Mall Mortgage Loan or the Alliance Center Mortgage Loan; (iii) Withheld Amounts in the Interest Reserve Account with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan; (iv) the Battlefield Mall Collection Account, the Alliance Center Collection Account and the Loan REMIC Distribution Account; (v) any amount held in the Gain-on-Sale Reserve Account with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan; (vi) the rights of the Depositor under Sections 2, 3, 9, 10, 11, 12, 13, 14, 16, 17 and 18 of the Mortgage Loan Purchase Agreement with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan; and (vii) the rights of the mortgagee under all Insurance Policies with respect to the Battlefield Mall Mortgage Loan and the Alliance Center Mortgage Loan.
Loan REMIC means the segregated pool of assets designated as such in SECTION 2.10(a).