Regular Certificates definition
Examples of Regular Certificates in a sentence
Each of the Upper-Tier Regular Interests designated Class A-1, Class A-SB, Class X-A, Class X-B, Class D-RR, Class E-RR, Class F-RR, Class G-RR and Class H-RR will be represented by a Class of Regular Certificates with the same alphanumeric designation and Pass-Through Rate, Certificate Balance or Notional Amount and entitlements as such Class of Regular Certificates.
Any allocation of Realized Losses to a Class of Regular Certificates or Exchangeable Certificates or Exchangeable Upper-Tier Regular Interests shall be made by reducing the Certificate Balance thereof by the amount so allocated.
For the purposes of the REMIC election in respect of the Upper-Tier REMIC, each Class of Regular Certificates and each of the Exchangeable Upper-Tier Regular Interests shall be designated as the “regular interests” and the Class UR Interest shall be designated as the sole class of “residual interests” in the Upper-Tier REMIC.
Each such election will be made on IRS Form 1066 or other appropriate federal tax return for the taxable year ending on the last day of the calendar year in which the Lower-Tier Regular Interests and the Regular Certificates are issued.
Any allocation of Realized Losses to a Class of Regular Certificates or Exchangeable Certificates or Exchangeable Upper-Tier Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated.