REMIC 4 definition
REMIC 4. The segregated pool of assets consisting of the Class C Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class C Certificates and the Class R-X Certificates (in respect of the Class R-4 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 4. As described in the Preliminary Statement.
REMIC 4. The segregated pool of assets consisting of all of the REMIC 3 Regular Interests conveyed in the trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the Class A-R Certificates (in respect of the Class R-4 Interest), and all amounts deposited therein, with respect to which a separate REMIC election is to be made. REMIC 4 Regular Interests: The Regular Certificates.
Examples of REMIC 4 in a sentence
For purposes of construing the terms of REMIC 1, REMIC 2, REMIC 3, and REMIC 4, and for purposes of the interpreting the provisions of the Agreement concerning REMIC administration set forth in Article X hereof, the following terms have the meanings set forth below.
Each REMIC 4 Regular Interest is hereby designated as a regular interest in REMIC 4.
The Holder of the Class R-X Certificate at any time holding the largest Percentage Interest thereof shall be the Tax Matters Person with respect to REMIC 4 and REMIC 5 and shall act as Tax Matters Person for REMIC 4 and REMIC 5.
All amounts deposited into the Net WAC Rate Carryover Reserve Account (other than amounts received under the Cap Contract) shall be treated as amounts distributed by REMIC 3 to the Holder of the Class C Interest and by REMIC 4 to the Holder of the Class C Certificates.
However, any payment from the Certificates (other than the Class C, Class P, Class R and Class R-X Certificates) of a Class IO Distribution Amount shall be treated for tax purposes as having been received by the Holders of such Certificates in respect of their interests in REMIC 4 and as having been paid by such Holders pursuant to the notional principal contract.
More Definitions of REMIC 4
REMIC 4. As described in the Preliminary Statement to this Agreement.
REMIC 4 and the "Upper Tier REMIC," respectively) in a tiered structure. The Certificates, other than the Class A-R Certificate, shall represent ownership of regular interests in the Upper Tier REMIC. For federal income tax purposes, in addition to representing ownership of a REMIC regular interest, (i) each of the Class A-1 Certificates represents the right to receive payments in respect of interest accruals on the Class A-1 Certificates at rates in excess of the Pool 1 Adjusted Net WAC, including all payments in respect of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, (ii) each of the Class A-2 Certificates represents the right to receive payments in respect of interest accruals on the Class A-2 Certificates at rates in excess of the Pool 2 Adjusted Net WAC, including all payments in respect of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls and (iii) each of the Class B-1 and Class B-2 Certificates represents the right to receive payments in respect of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls as provided in Section 5.06. For federal income tax purposes, (i) each Class X-A-1 Certificate will represent two REMIC regular interests, the rights to receive certain non-REMIC payments from the holders of the Class X-A-2 Certificates and the obligation to make certain non-REMIC payments to the holders of the Class A-1 and Class A-2 Certificates, (ii) each Class X-A-2 Certificate will represent two REMIC regular interests and the obligation to make certain non-REMIC payments to the holders of the Class A-1, Class A-2 and Class X-A-1 Certificates and (iii) each Class X-B Certificate will represent two REMIC regular interests and the obligation to make certain payments to the holders of the Class B-1 and Class B-2 Certificates in respect of Basis Risk
REMIC 4. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC 4, each of which (other than the R-4 Interest) is hereby designated as a regular interest in REMIC 4 (the “REMIC 4 Regular Interests”): T4-A $ 235,025,000.00 (1) A T4-M1 $ 13,133,500.00 (1) M-1 T4-M2 $ 4,146,500.00 (1) M-2 T4-M3 $ 6,912,000.00 (1) M-3 T4-M4 $ 4,838,500.00 (1) M-4 T4-B1 $ 6,221,000.00 (1) B-1 T4-B2 $ 4,147,500.00 (1) B-2 T4-Q $ 278,688,984.75 (1) X T4-1A-IO (2) (2) A-IO T4-2A-IO (2) (2) A-IO T4-3A-IO (2) (2) A-IO T4-4A-IO (2) (2) A-IO T4-5A-IO (2) (2) A-IO T4-6A-IO (2) (2) A-IO T4-7A-IO (2) (2) A-IO T4-8A-IO (2) (2) A-IO T4-9A-IO (2) (2) A-IO T4-10A-IO (2) (2) A-IO T4-11A-IO (2) (2) A-IO T4-12A-IO (2) (2) A-IO T4-13A-IO (2) (2) A-IO T4-14A-IO (2) (2) A-IO T4-15A-IO (2) (2) A-IO T4-16A-IO (2) (2) A-IO T4-17A-IO (2) (2) A-IO T4-18A-IO (2) (2) A-IO T4-19A-IO (2) (2) A-IO T4-20A-IO (2) (2) A-IO T4-21A-IO (2) (2) A-IO T4-22A-IO (2) (2) A-IO T4-23A-IO (2) (2) A-IO T4-24A-IO (2) (2) A-IO T4-25A-IO (2) (2) A-IO T4-26A-IO (2) (2) A-IO T4-27A-IO (2) (2) A-IO T4-28A-IO (2) (2) A-IO T4-29A-IO (2) (2) A-IO T4-30A-IO (2) (2) A-IO T4-F (3) (3) F R-4 (4) (4) R
REMIC 4. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC 4, each of which (other than the R-4 Interest) is hereby designated as a regular interest in REMIC 4 (the “REMIC 4 Regular Interests”): T4-A-IO (1) (1) A-IO T4-IO-Swap (2) (2) N/A T4-1-A1 $ 55,330,000.00 (3) 1-A1 T4-1-A2 $ 22,960,000.00 (3) 1-A2 T4-1-A3 $ 7,279,000.00 (3) 1-A3 T4-1-A4 $ 10,696,000.00 (3) 1-A4 T4-1-A5 $ 10,696,000.00 (3) 1-A5 T4-2-A1 $ 89,734,000.00 (3) 2-A1 T4-2-A2 $ 38,091,000.00 (3) 2-A2 T4-2-A3 $ 49,873,000.00 (3) 2-A3 T4-2-A4 $ 70,000,000.00 (3) 2-A4 T4-M-1 $ 20,159,000.00 (3) M-1 T4-M-2 $ 5,500,000.00 (3) M-2 T4-M-3 $ 9,574,000.00 (3) M-3 T4-M-4 $ 4,278,000.00 (3) ▇-▇ ▇▇-▇-▇ $ 3,667,000.00 (3) B-1 T4-B-2 $ 2,648,000.00 (3) B-2 T4-B-3 $ 4,674,000.00 (3) B-3 T4-X (4) (4) X T4-P $ 100.00 (5) P R-4 (6) (6) R
REMIC 4. The Class R-4 Interest represents the sole class of "residual interests" in the Class B-3 REMIC for purposes of the REMIC Provisions. The following table sets forth the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for the Class of Certificates that represent the "regular interest" in the Class B-3 REMIC created hereunder: Original Class Pass-Through Certificate Principal Class Designation Rate Balance ------------------------- -------------------- ----------------------
REMIC 4. The segregated pool of assets consisting of all of the REMIC 3 Regular Interests conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates (other than the Class C Certificates and the Class P Certificates), REMIC CX, as the holder of the REMIC 4 Regular Interests LT4-IC and REMIC 4 Regular Interest LT4-IIC, REMIC PX as holder of REMIC 4 Regular Interest LT4-IP and REMIC 4 Regular Interest LT4-IIP, and the Class R Certificateholders, as holders of the Class R-4 Interest, pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 4. The segregated pool of assets consisting of all of the Class C Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the