LT-7 definition

LT-7. The uncertificated class of interests in the Lower-Tier REMIC, as described in and designated in Section 2.8 hereof.
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Examples of LT-7 in a sentence

  • Y7 = the Uncertificated Principal Balance of REMIC I Regular Interest LT7 after distributions on the prior Distribution Date.

  • P0 = the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT1, LT2, LT3, LT4, LT6, LT7, LT8, LT10, LT11 and LT12 after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • P1 = the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT1, LT2, LT3, LT4, LT6, LT7, LT8, LT10, LT11 and LT12 after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • AY7 = the REMIC I Regular Interest LT7 Principal Reduction Amount.

  • For federal income tax purposes the foregoing rate is expressed as a rate per annum equal to the percentage equivalent of a fraction, the numerator of which is the sum of the amounts calculated pursuant to clauses (i) through (iii) below, and the denominator of which is the aggregate principal balance of REMIC I Regular Interests LT5, LT6, LT7 and LT8.

  • P0 = the aggregate principal balance of the Class LT1, LT2, LT3, LT4, LT6, LT7 and LT8 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • Non-Contravention...................................5 SECTION 2.05.

  • There are also seven classes of uncertificated Lower-Tier Regular Interests issued under this Agreement (the Class LT1, Class LT2, Class LT3, Class LT4, Class LT5, Class LT6 and Class LT7 Interests), each of which will constitute regular interests in the Lower-Tier REMIC.

  • P1 = the aggregate principal balance of the Class LT1, LT2, LT3, LT4, LT6, LT7, LT8, LTY1, LTY2 and LTY3 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • LT-2 1-2 LT-3 1-3 LT-4 1-4 LT-5 1-5 LT-6 1-6 LT-7 1-7 LT-8 1-8 LT-9 1-9 L▇-▇▇ ▇-▇▇ ▇▇-▇▇ ▇-▇▇ ▇▇-▇▇ 1-12 LT-13 1-13 98795 Sequoia 2004-1 Pooling and Servicing Agmt.

Related to LT-7

  • Regular interest A “regular interest” in a REMIC within the meaning of Section 860G(a)(1) of the Code.

  • Lower-Tier Regular Interest Each of the Class LT-A-1, Class LT-A-2, Class LT-A-3, Class LT-A-4, Class LT-M-1, Class LT-M-2, Class LT-M-3, Class LT-M-4, Class LT-M-5, Class LT-M-6, Class LT-B-1, Class LT-B-2, Class LT-B-3, Class LT-IO and Class LT-Accrual Interests as described in the Preliminary Statement.

  • L Regular Interest The uncertificated undivided beneficial interest in REMIC II which constitutes a REMIC II Regular Interest and is entitled to distributions as set forth herein.

  • REMIC 2 Regular Interest Each of the REMIC 2 Interests other than the Class LT2-R Interest.

  • REMIC I Regular Interest I-LTP One of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a Regular Interest in REMIC I. REMIC I Regular Interest I-LTP shall be entitled to any Prepayment Charges collected by the Master Servicer and to a distribution of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto.