REMIC Account definition

REMIC Account. Any account or accounts that are required to be established (in the same manner as the Certificate Account is established) and maintained pursuant to Section 12.04.
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Examples of REMIC Account in a sentence

  • To the extent that the Upper Tier REMIC Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Upper Tier REMIC Account shall be deemed to refer to credits and debits to the related books of the Trustee.

  • In addition, on the Guaranteed Maturity Date of the AB Class, ▇▇▇▇▇▇ Mae shall withdraw from the Upper Tier REMIC Account all funds deposited therein and shall make the distribution to the Holders of the Certificates of the AB Class Certificates in the respective amounts and in the manner as provided herein.

  • On each Distribution Date, ▇▇▇▇▇▇ ▇▇▇ shall withdraw from the Base REMIC Account the portion of the Base REMIC Distribution Amount distributable thereon and shall make the distributions to the Holders of the Certificates of each of the Base REMIC Regular Classes in the respective amounts and in the applicable manner determined as provided herein.

  • The Certificates of the A Class initially will be issued to and maintained in the name of ▇▇▇▇▇▇ Mae as Trustee of the Upper Tier REMIC; provided, however, that upon the deposit into the Upper Tier REMIC Account of the amount due pursuant to the Forward Purchase Agreement on the Guaranteed Maturity Date, the Certificates of the A Class shall be transferred to ▇▇▇▇▇▇ ▇▇▇ in its corporate capacity as record owner thereof.

  • On each Distribution Date, ▇▇▇▇▇▇ Mae shall withdraw from the Upper Tier REMIC Account the applicable portion of the Lower Tier Distribution Amount distributable thereon and shall make the distributions to the Holders of each related Class of Trust Fund Certificates in the respective amounts and in the applicable manner determined as provided herein.

  • Any manner or manners in which the Upper Tier REMIC Account is maintained may at any time be changed without notice to, or the approval of, Holders of such Certificates so long as funds held in the Upper Tier REMIC by, or for the account of, the Trustee shall at all times be identified.

  • On each Distribution Date for such Series, the Trustee for the related Lower Tier Trust Fund shall withdraw from the related Lower Tier REMIC Account the portion of such Certificate Distribution Amount distributable thereon and shall make the distributions to the Holders of the related Lower Tier Interests in the respective amounts and in the applicable manner determined pursuant to Section 3.02.

  • To the extent that the Base REMIC Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the Base REMIC Account shall be deemed to refer to credits and debits to the related books of the Trustee.

  • In the event that the amount on deposit in the Upper Tier REMIC Account on any Distribution Date shall be less than the Certificate Distribution Amount, ▇▇▇▇▇▇ ▇▇▇, in its corporate capacity, guarantees to the Upper Tier Trust Fund that it shall provide from its own funds the amount of any insufficiency and shall deposit such funds into the Upper Tier REMIC Account for distribution by the Trustee for the Upper Tier Trust Fund pursuant to this Section 4.07.

  • Any manner or manners in which the Upper Tier REMIC Account is maintained may at any time be changed without notice to, or the approval of, Holders of the Trust Fund Certificates so long as funds held in the Upper Tier REMIC by, or for the account of, the Trustee shall at all times be identified.

Related to REMIC Account

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Securities Inc., Commercial Mortgage Pass-Through Certificates, Series 2016-P3, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as the Upper-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Deutsche Bank Trust Company Americas, as Trustee, for the benefit of the registered Holders of Citigroup Commercial Mortgage Trust 2017-P7, Commercial Mortgage Pass-Through Certificates, Series 2017-P7, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.