REMIC C definition

REMIC C. As defined in the Preliminary Statement.
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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.
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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.
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Examples of REMIC C in a sentence

  • Ericsson’s main focus is on operators, from which most of the sales are coming (80% according to Bob Gessel).

  • 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 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.

  • 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.

  • 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 Trustee acknowledges the issuance of the uncertificated REMIC 3 Class B-1 Regular Interest and declares that it holds such regular interest as the asset of REMIC C.

  • The regular interests in REMIC A were then contributed to a second REMIC (REMIC B), and the regular interests in REMIC B were contributed to REMIC C.

  • For the purposes of the REMIC election in respect of REMIC C, the Certificates or Components thereof (other than the Class R Certificates), shall be designated as the Regular Interests in REMIC C and the Class R-C Residual Interest shall be designated as the Residual Interest in REMIC C.

  • The Class R-A Component evidenced by this Class 2-R Certificates will be the "residual interest" in REMIC A, the Class R-B Component evidenced by this Class 2-R Certificates will be the "residual interest" in REMIC B, the Class R-C Component evidenced by this Class 2-R Certificates will be the "residual interest" in REMIC C and the Class R-D Component evidenced by this Class 2-R Certificates will be the "residual interest" in REMIC D.

  • The Trustee acknowledges receipt of the REMIC B Regular Interests and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Class R Certificateholders (as holder of the Class R-B Residual Interest) and REMIC C (as holder of the REMIC B Regular Interests).


More Definitions of REMIC C

REMIC C. As set forth in Section 1.03 hereof.
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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. "The REMIC" means the REMIC constituted by the Trust Estate.

  • 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.

  • REMIC 2 As described in the Preliminary Statement.

  • REMIC 1 As described in the Preliminary Statement.

  • REMIC IV 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 Class RX Certificate (in respect of the Class R-4 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC 3 The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the Class R Certificate (in respect of the Class R-3 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • REMIC III The segregated pool of assets consisting of all of the REMIC II Regular Interests conveyed in trust to the Trustee, for the benefit of the REMIC III Certificateholders pursuant to Section 2.07, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.

  • REMIC I Interests The REMIC I Regular Interests and the Class R-I Certificates.

  • REMIC II The segregated pool of assets consisting of the Uncertificated REMIC I Regular Interests conveyed in trust to the Trustee for the benefit of the holders of each Class of Certificates (other than the Class R-I Certificates) pursuant to Section 2.06, with respect to which a separate REMIC election is to be made.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • REMIC I Assets All of the Mortgage Pool Assets.

  • REMIC Regular Interests The REMIC I Regular Interests and REMIC II Regular Interests.

  • REMIC 2 Regular Interests One of the separate non-certificated beneficial ownership interests in REMIC 2 issued hereunder and designated as a Regular Interest in REMIC 2. Each REMIC 2 Regular Interest shall accrue interest at the related Uncertificated REMIC 2 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 following is a list of each of the REMIC 2 Regular Interests: REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTA1, REMIC 2 Regular Interest LTA2, REMIC 2 Regular Interest LTA3, REMIC 2 Regular Interest LTA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10, REMIC 2 Regular Interest LTZZ, REMIC 2 Regular Interest LTP and REMIC 2 Regular Interest LTIO.

  • REMIC 1 Regular Interests REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1P.

  • REMIC I Regular Interests The Classes of undivided beneficial interests in REMIC I designated as “regular interests” in the table titled “REMIC I Interests” in the Preliminary Statement hereto. The REMIC I Regular Interests, together with the Class R-1 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • REMIC II Interests means, collectively, the REMIC II Regular Interests and the Class R-II Certificates.

  • REMIC I The segregated pool of assets subject hereto, constituting the primary trust created hereby and to be administered hereunder, with respect to which a REMIC election is to be made, consisting of (i) such Mortgage Loans as from time to time are subject to this Agreement, together with the Mortgage Files relating thereto, and together with all collections thereon and proceeds thereof, (ii) any REO Property, together with all collections thereon and proceeds thereof, (iii) the Trustee’s rights with respect to the Mortgage Loans under all insurance policies required to be maintained pursuant to this Agreement and any proceeds thereof, (iv) the Depositor’s rights under each of the Mortgage Loan Purchase Agreement and the Assignment and Assumption Agreement (including any security interest created thereby) and (v) the Collection Account (other than any amounts representing any Servicer Prepayment Premium Payment Amount), the Distribution Account (other than any amounts representing any Servicer Prepayment Premium Payment Amount) and any REO Account and such assets that are deposited therein from time to time and any investments thereof, together with any and all income, proceeds and payments with respect thereto. Notwithstanding the foregoing, however, REMIC I specifically excludes all payments and other collections of principal and interest due on the Mortgage Loans on or before the Cut-off Date and all Prepayment Premiums payable in connection with Principal Prepayments made on or before the Cut-off Date, the Net WAC Reserve Fund, the Supplemental Interest Trust, the Supplemental Interest Account and the Swap Agreement.

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.

  • 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 “Computershare Trust Company, National Association, as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of BMO 2022-C1 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2022-C1, and the Uncertificated Interest Owners, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account. The Upper-Tier REMIC Distribution Account shall be an asset of the Upper-Tier REMIC.

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • REMIC II Assets The REMIC I Regular Interests.

  • Uncertificated REMIC I Regular Interests The Uncertificated REMIC I Regular Interests Z together with the interests identified in the table below, each representing an undivided beneficial ownership interest in REMIC I, and having the following characteristics:

  • REMIC II Regular Interests The Classes of undivided beneficial interests in REMIC II designated as “regular interests” in the table titled “REMIC II Interests” in the Preliminary Statement hereto. The REMIC II Regular Interests, together with the Class R-2 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.