REMIC C definition

REMIC C. As defined in the Preliminary Statement.
View Source
REMIC C. The corpus of the Trust Fund consisting of Class B Regular Interests, as to which a REMIC election will be made pursuant to the provisions hereof, and having regular and residual interests as provided herein.
View Source
REMIC C. As set forth in Section 1.03 hereof.
View Source

Examples of REMIC C in a sentence

  • The portion thereof attributable to the Group U-1 Mortgage Loans shall be deemed paid in respect of the Class C-Y-1 and Class C-Z-1 REMIC C Regular Interests: first, in payment of the REMIC C Interest Distribution Amount with respect thereto and, second, in payment of the Class C-Y-1 and Class C-Z-1 Principal Distribution Amounts in that order.

  • REMIC C, REMIC 1-P and REMIC 2-P will hold as assets, respectively, the Class C, Class 1-P and Class 2-P Interests in the Master REMIC.

  • The Class C Certificates will represent ownership of the sole regular interest in REMIC C and will be entitled to all amounts payable on the assets held by REMIC C.

  • The “regular interests” (within the meaning of Section 860G of the Code) in REMIC C shall consist of the REMIC C Regular Interests and the “residual interest” in REMIC C shall consist of the Class 2-R-C Component.

  • The portion thereof attributable to the Group U-2 Mortgage Loans shall be deemed paid in respect of the Class C-Y-2 and Class C-Z-2 REMIC C Regular Interests: first, in payment of the REMIC C Interest Distribution Amount with respect thereto and, second, in payment of the Class C-Y-2 and Class C-Z-2 Principal Distribution Amounts in that order.

  • The Depositor and the Trustee shall not permit the creation of any “interests” (within the meaning of Section 860G of the Code) in REMIC C other than the REMIC C Regular Interests and the Class 2-R-C Component.

  • Solely for purposes of Treasury Regulations Section 1.860G-1(a)(4)(iii), the Distribution Date following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each Class of Certificates that represents one or more of the “regular interests” in REMIC 3, REMIC A, REMIC B, REMIC C or REMIC D.

  • The Trust REMIC, REMIC I, REMIC II, REMIC A, REMIC B, REMIC C, REMIC D, REMIC E and REMIC F, as applicable.

  • The interests evidenced by the Certificates constitute the entire beneficial ownership interest in REMIC C.

  • A component of the Class 2-R Certificate comprising the residual interest in REMIC C which will, together with the Class 2-R-A Component, Class 2-R-B Component and Class 2-R-D Component, be represented by the Class 2-R Certificate.


More Definitions of REMIC C

REMIC C. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 2 Class B-2 Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC C." The Class B-2 Certificates (exclusive of the right to Cap Carryover Amounts) represent the sole class of "regular interests" and the Class R-C Interest represents the sole class of "residual interests" in REMIC C for purposes of the REMIC Provisions. The Class B-2 Certificates shall have a principal balance equal to the REMIC 2 Class B-2 Interest and shall bear interest at the same rate as the REMIC 2 Class B-2 Interest. REMIC D As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 2 Class B-3 Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC D." The Class B-3 Certificates (exclusive of the right to Cap Carryover Amounts) represent the sole class of "regular interests" and the Class R-D Interest represents the sole class of "residual interests" in REMIC D for purposes of the REMIC Provisions. The Class B-3 Certificates shall have a principal balance equal to the REMIC 2 Class B-3 Interest and shall bear interest at the same rate as the REMIC 2 Class B-3 Interest.
View Source

Related to REMIC C

  • 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: A real estate mortgage investment conduit" as defined in Code Section 860D.

  • REMIC V 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 RX Certificate (in respect of the Class R-5 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC VI The segregated pool of assets consisting of the Class IO Interest conveyed in trust to the Trustee, for the benefit of the Holders of REMIC VI Regular Interest IO and the Class RX Certificate (in respect of the Class R-6 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC A "real estate mortgage investment conduit" within the meaning of Section 860D of the Code.