REMIC 5. The segregated pool of assets consisting of the Class P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class P Certificates and the Class R-X Certificates (in respect of the Class R-5 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 5. The segregated pool of assets consisting of the Class B-4 Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class B-4 Certificates and the Class R-X Certificate (in respect of the Class R-5 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 5. As described in the Preliminary Statement.
Examples of REMIC 5 in a sentence
Each REMIC 5 Regular Interest is hereby designated as a regular interest in the Upper Tier REMIC.
The REMIC 5 Residual Interest is hereby designated as the sole residual interest in the Upper Tier REMIC.
The Class R Certificate represents ownership of the sole class of residual interest in each of REMIC 1, REMIC 2, REMIC 3, REMIC 4, and REMIC 5 for purposes of the REMIC Provisions.
Conveyance of REMIC Regular Interests and Acceptance of REMIC 2, REMIC 3, REMIC 4, REMIC 5 and REMIC 6 by the Trustee; Issuance of Certificates.
The Class R Certificate evidences ownership of the Class LT1-R Interest, the Class LT2-R Interest, the Class LT3-R Interest, the Class LT4-R Interest and the REMIC 5 Residual Interest.
More Definitions of REMIC 5
REMIC 5. As described in the Preliminary Statement to this Agreement.
REMIC 5. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC 5, each of which (other than the R-5 Interest) is hereby designated as a regular interest in REMIC 5 (the “REMIC 5 Regular Interests”): REMIC Interests Initial Balance Interest Rate Corresponding Class of Certificates T5-A-IO (1) (1) A-IO T5-F (2) (2) F T5-A $ 389,250,000.00 (3) A T5-M1 $ 27,000,000.00 (3) M-1 T5-M2 $ 4,500,000.00 (3) M-2 T5-M3 $ 10,500,000.00 (3) M-3 T5-M4 $ 4,500,000.00 (3) M-4 T5-B1 $ 4,125,000.00 (3) B-1 T5-X $ 1,125,119.64 (4) X T5-P $ 100.00 (5) P R-5 (6) (6) R
REMIC 5. The Class R-5 Interest represents the sole class of "residual interests" in The Class B-4 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-4 REMIC created hereunder: Original Class Pass-Through Certificate Principal Class Designation Rate Balance ------------------------- ------------------ ---------------------
REMIC 5. The segregated pool of assets consisting of the Class X/N Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class N Certificates and the Class X Certificates and the Class R-X Certificate (in respect of the Class R-5 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 5 and "REMIC 6," respectively). The Class T4-A1AIO, Class T4-A2AIO, Class T4-A2BIO, Class T4-M1IO, Class T4-M2IO, Class T4-B1IO, Class T4-B2IO, Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests (such interests, the "REMIC 4 Components"), the Class T4-A1A, Class T4-A2A, Class T4-A2B, Class T4-M1, Class T4-M2, Class T4-B1 and Class T4-B2 Interests and the Class A-IO Certificates represent all of the "regular interests" in REMIC 4. Each Class of Offered P&I Certificates, other than the Class B-2 Certificates, represents beneficial ownership of the corresponding REMIC 4 Regular Interest and the right to receive LIBOR Carryover Amounts. The Class B-2 Certificates represent beneficial ownership of the REMIC 5 Regular Interest and the right to receive LIBOR Carryover Amounts. The Class N and Class X Certificates represent beneficial ownership of the Class X/N Interest, which represents the REMIC 6 Regular Interest, subject to the obligation to pay LIBOR Carryover Amounts. Each of the Class R-A, Class R-B, Class R-1, Class R-2, Class R-3 and Class R-4 Interests, represented collectively by the Class R Certificate, represents the sole Class of "residual interest" in REMIC A, REMIC B, REMIC 1, REMIC 2, REMIC 3 and REMIC 4, respectively, for purposes of the REMIC Provisions. The Class R-5 Certificate and Class R-6 Certificate represent the sole Class of "residual interest" in REMIC 5 and REMIC 6, respectively. There are three Classes of uncertificated REMIC A Regular Interests (the Class TA-1, Class TA-2 and Class TA-4 Interests), four Classes of uncertificated REMIC B Regular Interests (the Class TB-1, Class TB-2, Class TB-AIO and Class TB-4 Interests), five Classes of uncertificated REMIC 1 Regular Interests (the Class T1-1, Class T1-2, Class T1-3, Class T1-4 and Class T1-AIO Interests), eight Classes of uncertificated REMIC 2 Regular Interests (the Class T2-1, Class T2-2, Class T2-3, Class T2-4, Class T2-AIO, Class T2-11, Class T2-12 and Class T2-13 Interests), and twelve Classes of uncertificated REMIC 3 Regular Interests (the Class T3-A1A, Class T3-A2A, Class T3-A2B, Class T3-M1, Class T3-M2, Class T3-B1, Class T3-B2, Class T3-4, Class T3-AIO, Class T3-11, Class T3-12 and Class T3-13 Interests). The REMIC 5 Regular Interest, the REMIC 6 Regular Interest and each Class of REMIC A Regular Interest, REMIC B Regular Interest, REMIC 1 Regular Interest, REMIC 2 Regular Interest, REMIC 3 Regular Interest and REMIC 4 Regular Interest are "REMIC Regular Intere...
REMIC 5. All amounts deemed distributed in respect of the REMIC 2 B-1 Interest shall be treated as received by REMIC 5 then distributed by REMIC 5 in respect of the REMIC 5 B-1 Interest. All allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts to the REMIC 2 B-1 Interest shall result in similar allocations to the REMIC 5 B-1 Interest. If on any Distribution Date the Class Principal Balance of the Class B-1 Certificates is increased pursuant to the last sentence of the definition of "Certificate Principal Balance", then there shall be an equivalent increase in the principal amount of the REMIC 5 B-1 Interest on such Distribution Date.
REMIC 5. The segregated pool of assets consisting of the Class CE Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class CE Certificates and the Holders of the Class R-X Certificates (as holders of the Class R-5 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.