Lower-Tier REMIC Interest. Any one of the Lower-Tier REMIC Regular Interests or the Class A-LR Certificates.

Lower-Tier REMIC Interest. As specified in the Preliminary Statement.

Lower-Tier REMIC Interest. Any one of the Classes of Lower-Tier REMIC Interests described in Section 2.04.

Examples of Lower-Tier REMIC Interest in a sentence

The following table irrevocably sets forth the designation, the interest rate, the initial principal balance and the Corresponding Class of Notes or Certificates, if applicable, for each Lower-Tier REMIC Interest.
Interest is to be distributed with respect to each Lower-Tier REMIC Interest at the rate, or according to the formulas, described above.
The following table specifies the class designation, pass-through rate and principal amount for each class of Lower-Tier REMIC Interest.
The following table specifies the class designation, interest rate and principal amount for each class of Lower-Tier REMIC Interest.
LOWER-TIER REMIC The following table specifies the class designation, initial principal amount, pass-through rate and related Mortgage Group for each class of Lower-Tier REMIC Interest.

More Definitions of Lower-Tier REMIC Interest

Lower-Tier REMIC Interest. Any one of the classes of Lower Tier REMIC Interests described in the Preliminary Statement hereto.

Lower-Tier REMIC Interest has a principal balance that is initially equal to 5% of the Loan Group 1B principal balance. Except as provided in the immediately succeeding sentence, principal payments, both scheduled and prepaid, Realized Losses and Subsequent Recoveries will be allocated to the LT-1-X-Accrual-2 Interest in such manner as to cause the principal balance of the LT-1-X Accrual-2 Interest to have a principal balance equal to 5% of the Loan Group 1B principal balance plus (b) 100% of the net deferred interest in respect of Loan Group 1B. In the case of any Loan Group 1B Accretion Directed Class Increase Event, such items will be allocated to the Class LT-1-X-Accrual-2 Interest to reduce its balance to the Class LT-1-X-Accrual-2 Interest Target Amount.

Lower-Tier REMIC Interest has a principal balance that is initially equal to 90% of the Loan Group 1C principal balance. On each Distribution Date, principal payments, both scheduled and prepaid, Realized Losses and Subsequent Recoveries will be allocated to the LT-1-Support-3 Interest in such manner as to cause the principal balance of the LT-1-Support-3 Interest, collectively with the Loan Group 1B Accretion Directed Classes and Class LT-1-X Accrual-3 Interests to have a principal balance equal to the Loan Group 1C principal balance plus (b) 100% of the net deferred interest in respect of Loan Group 1C.

Lower-Tier REMIC Interest. Any one of the Subsidiary REMIC Interests or the SR-A-R Interest.

Lower-Tier REMIC Interest has a principal balance that is initially equal to 50% of its Corresponding Certificate Class issued by the Master REMIC. Principal payments, both scheduled and prepaid, Realized Losses and Subsequent Recoveries will be allocated to this class to maintain its size relative to its Corresponding Certificate Class (that is, 50%).

Lower-Tier REMIC Interest has a principal balance that is initially equal to 5% of the Corresponding Subgroup principal balance. Principal payments, both scheduled and prepaid, Realized Losses and Subsequent Recoveries and interest accruing on Loan Group 1 will be allocated so as to cause the principal balance of each LT-1-X Accrual Interest to equal its Adjusted Target Balance.

Lower-Tier REMIC Interest. 13 has no principal balance and accrues interest on a Notional Amount. The Notional Amount of Lower Tier REMIC Interest 13 with respect to any Distribution Date will be equal to the Notional Amount of the Class X Certificates with respect to such Distribution Date.