Middle REMIC definition
Examples of Middle REMIC in a sentence
Middle REMIC 2 shall hold as its assets the several classes of uncertificated Middle Tier Interests in Middle REMIC 1 other than the Class MT1-R Interest, and each such Middle Tier Interest is hereby designated as a regular interest in Middle REMIC 1.
The Middle 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.
The assets of the Middle REMIC shall be as set forth in the definition thereof.
By its acceptance of a Class AR Certificate, each Holder thereof shall have agreed to such appointment and shall have consented to the appointment of the Trust Administrator as its agent to act on behalf of each of Middle REMIC 1, Middle REMIC 2 and the Master REMIC pursuant to the specific duties outlined herein.
The Class AR Certificates represent ownership of the sole class of residual interest in each of Middle REMIC 1, Middle REMIC 2, and the Master REMIC for purposes of the REMIC Provisions.
The Master REMIC shall hold as its assets the several classes of uncertificated Middle Tier Interests in Middle REMIC 2 other than the Class MT2-R Interest, and each such Middle Tier Interest is hereby designated as a regular interest in Middle REMIC 2.
The Middle REMIC shall hold as its assets the uncertificated REMIC regular interests issued by the Subsidiary REMIC.
The Middle REMIC shall issue the Class R-2 interest and shall designate such interest as its sole class of residual interest.
The Class AR Certificates shall represent the beneficial ownership of the “residual interest” in Middle REMIC 1, Middle REMIC 2 and the Master REMIC.