REMIC 1 Regular Interest definition

REMIC 1 Regular Interest. Any of the 238 separate non-certificated beneficial ownership interests in REMIC 1 issued hereunder and designated as a “regular interest” in REMIC 1. Each REMIC 1 Regular Interest shall accrue interest at the related Uncertificated REMIC 1 Pass-Through Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto.
REMIC 1 Regular Interest. Each of the REMIC 1 Interests other than the Class LT1-R Interest.
REMIC 1 Regular Interest. Any of the separate non-certificated beneficial ownership interests in REMIC 1 issued hereunder and designated as a Regular Interest in REMIC 1. Each REMIC 1 Regular Interest shall accrue interest at the related Uncertificated REMIC 1 Pass-Through Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC 1 Regular Interests are set forth in the Preliminary Statement hereto. The REMIC 1 Regular Interests consist of REMIC 1 Regular Interests 1-1-A through REMIC 1 Regular Interest 1-60-B, REMIC 1 Regular Interest OC and REMIC 1 Regular Interest P, each as designated in the Preliminary Statement hereto.

Examples of REMIC 1 Regular Interest in a sentence

  • Each REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan.

  • Each REMIC 1 Regular Interest is hereby designated as a regular interest in REMIC 1.

  • Each Pooling REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan.

  • All losses on the Mortgage Loans shall be allocated among the Pooling REMIC 1 Regular Interest in the same manner that principal distributions are allocated.

  • REMIC 2 shall hold as its assets the several Classes of uncertificated REMIC 1 Regular Interests and each such REMIC 1 Regular Interest is hereby designated as a regular interest in REMIC 1.


More Definitions of REMIC 1 Regular Interest

REMIC 1 Regular Interest. As specified in the Preliminary Statement.
REMIC 1 Regular Interest. Any of the REMIC 1 Interests other than the Class LT1-R Interest.
REMIC 1 Regular Interest. Each REMIC 1 Interest other than the Class R-1 Interest.
REMIC 1 Regular Interest. Not applicable.
REMIC 1 Regular Interest. Any of the Class LT1-1 Interest, Class LT1-2 Interest, Class LT1-3 Interest, Class LT1-4AX Interest, Class LT1-4PAX Interest and Class LT1-5 Interest.
REMIC 1 Regular Interest. As defined in the Preliminary Statement.