Lower REMIC definition

Lower REMIC. The segregated pool of assets consisting of the Trust Fund but excluding the Lower REMIC Interests, the RL Interest and the RU Interest.
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Lower REMIC. The segregated pool of assets consisting of the Rounding Account and the Trust Fund but excluding the Retained Yield and the Lower REMIC Interests.
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Lower REMIC. Not applicable.
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Examples of Lower REMIC in a sentence

  • The assets of the Lower REMIC shall be as set forth in the definition thereof.

  • The Lower REMIC Interests shall be uncertificated and shall be held by the Trustee as assets of the Upper REMIC.

  • The Lower REMIC Interests shall be uncertificated and shall be held by the Trustee as assets of the Middle REMIC.

  • Each interest identified in the first table below by a designation beginning with "L" shall be a "regular interest" in the Lower REMIC and a Lower REMIC Interest, and the RL Interests shall be the sole class of residual interest in the Lower REMIC.

  • Each interest identified in the first table below by a designation beginning with “L” shall be a “regular interest” in the Lower REMIC and a Lower REMIC Interest, and the RL Interest shall be the sole class of residual interest in the Lower REMIC.

  • The segregated pool of assets consisting of the Trust Fund but excluding the Lower REMIC Interests, the RL Interest and the RU Interest.

  • The Class I-A-R Certificates will represent the residual interests in the Lower REMIC, Middle REMIC and Upper REMIC, as described in Section 2.7. The "latest possible maturity date" for federal income tax purposes of all REMIC regular interests created hereby will be the Latest Possible Maturity Date.

  • Each interest identified in the first table below by a designation beginning with "L" shall be a "regular interest" in the Lower REMIC and a Lower REMIC Interest, and the RL Interest shall be the sole class of residual interest in the Lower REMIC.

  • The Class I-A-R Certificates will represent the residual interests in the Lower REMIC and Upper REMIC, as described in Section 2.7. The "latest possible maturity date" for federal income tax purposes of all REMIC regular interests created hereby will be the Latest Possible Maturity Date.

  • The Lower REMIC Interest L-II-A-1, Lower REMIC L-II-A-2 and Lower REMIC Interest L-II-ZZZ shall be Corresponding Classes to these classes of Middle REMIC Interests: M-II-A-1, ▇-▇-▇, ▇-▇-▇, ▇-▇-▇, ▇-▇-▇, ▇-▇-▇ and M-B-6 (provided that with respect to ▇-▇-▇, ▇-▇-▇, ▇-▇-▇, ▇-▇-▇, ▇-▇-▇ and M-B-6, such Lower REMIC Interests shall only correspond to the portion supported by Pool II).


More Definitions of Lower REMIC

Lower REMIC. As defined in the Series Supplement.
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Related to Lower REMIC

  • Lower-Tier REMIC As described in the Preliminary Statement.

  • Adjusted Lower Tier WAC For any Distribution Date (and the related Accrual Period), an amount equal to (i) two, multiplied by (ii) the weighted average of the interest rates for such Distribution Date for the Class LT3-A1, Class LT3-A2, Class LT3-A3, Class LT3-A4, Class LT3-A5, Class LT3-M1, Class LT3-M2, Class LT3-M3, Class LT3-M4, Class LT3-M5, Class LT3-M6, Class LT3-M7, Class LT3-M8, Class LT3-M9, Class LT3-B1, Class LT3-B2 and Class LT3-Q Interests, weighted in proportion to their Class Principal Amounts as of the beginning of the related Accrual Period and computed by subjecting the rate on the Class LT3-Q Interest to a cap of 0.00%, and by subjecting the rate on each of the Class LT3-A1, Class LT3-A2, Class LT3-A3, Class LT3-A4, Class LT3-A5, Class LT3-M1, Class LT3-M2, Class LT3-M3, Class LT3-M4, Class LT3-M5, Class LT3-M6, Class LT3-M7, Class LT3-M8, Class LT3-M9, Class LT3-B1 and Class LT3-B2 Interests to a cap that corresponds to the Certificate Interest Rate (determined by substituting the REMIC 3 Net Funds Cap for the applicable Net Funds Cap) for the Corresponding Class of Certificates; provided, however, that for each Class of LIBOR Certificates, the Certificate Interest Rate shall be multiplied by an amount equal to (a) the actual number of days in the Accrual Period, divided by (b) 30.

  • Published Rate means the rate of interest published each Business Day in The Wall Street Journal “Money Rates” listing under the caption “London Interbank Offered Rates” for a one month period (or, if no such rate is published therein for any reason, then the Published Rate shall be the rate at which U.S. dollar deposits are offered by leading banks in the London interbank deposit market for a one month period as published in another publication selected by the Administrative Agent).

  • REMIC II Remittance Rate The per annum rate at which interest accrues in respect of any REMIC II Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.13(f).

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.