REMIC Declaration definition

REMIC Declaration. (a) With respect to the Alabama Hilton Portfolio REMIC or the Alabama Hilton Portfolio Mortgage Loan, the Alabama Hilton Portfolio REMIC Declaration, and (b) with respect to the Residence Inn Xxxxxxxx XXXXX or the Residence Inn Xxxxxxxx Mortgage Loan, the Residence Inn Xxxxxxxx XXXXX Declaration.
Sample 1Sample 2Sample 3
REMIC Declaration. With respect to the 800 Xxxxx Xxxxxx REMIC or the 800 Xxxxx Xxxxxx Mortgage Loan, the 800 Xxxxx Xxxxxx REMIC Declaration.
Sample 1Sample 2Sample 3
REMIC Declaration. With respect to any REMIC Held Mortgage Loan, the related REMIC declaration pursuant to which the related Loan REMIC is created. Because the Trust Fund will not include any REMIC Held Mortgage Loan as of the Closing Date, there will be no REMIC Declaration. Accordingly, all references in this Agreement to “REMIC Declaration” shall be disregarded.
Sample 1

Examples of REMIC Declaration in a sentence

  • In addition, the Certificate Administrator will make a separate REMIC election (designated as the “800 Xxxxx Xxxxxx REMIC”) with respect to the 800 Xxxxx Xxxxxx Mortgage Loan, and the corresponding interests in any REO Property with respect thereto and the proceeds thereof for federal income tax purposes as described in the 800 Xxxxx Xxxxxx REMIC Declaration.

  • Loan Group shall be serviced and administered in accordance with the applicable provisions of the GMACCM C2 PSA and Article III hereof and the related Loan REMIC Declaration.

  • Other than with respect to any pledge to Buyer hereunder, Seller shall not pledge, transfer or convey any security interest in any Account to any Person without the express written consent of Buyer, other than the pledge of the Participation Account to the Buyer under the REMIC Declaration Agreement.

  • The sole class of "residual interests" in each Loan REMIC created under the REMIC Declaration will be the related Loan REMIC Residual Interest and will be evidenced by the Class LR Certificates.

  • A summary of the more significant issues / changes to the MOU are itemized in the “discussion” section below and a complete summary of the Tentative Agreements reached are attached.

  • The Xerox Headquarters Mortgage Loan shall be serviced and administered in accordance with the applicable provisions of this Agreement and the related Loan REMIC Declaration.

  • No Sellers nor any Person claiming through or under Sellers shall have any claim to or interest in the Waterfall Account, the Participation Account (except to the extent provided in the related REMIC Declaration Agreement) or any Interest Reserve Account.

  • All of the representations and warranties of PMC in any REMIC Declaration Agreement related to a Purchased REMIC Certificate are true and correct in all material respects and are incorporated herein by reference mutatis mutandis.

  • As provided herein and in the Park La Brea Apartments Loan REMIC Declaration, the Trustee will elect to treat the Park La Brea Apartments Trust Mortgage Loan as the primary asset of a separate REMIC for federal income tax purposes, and such REMIC will be designated as the "Loan REMIC".

  • Each REMIC Declaration sets forth the interests in the related Loan REMIC.


More Definitions of REMIC Declaration

REMIC Declaration. As defined in the Preliminary Statement.
Sample 1

Related to REMIC Declaration

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, 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.

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

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • 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.

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

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

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

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Class R Certificates All Certificates bearing the class designation of "Class R".

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • 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 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.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • 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.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Lower-Tier REMIC As described in the Preliminary Statement.

  • Master REMIC As described in the Preliminary Statement.

  • Upper-Tier REMIC As described in the Preliminary Statement.

  • REMIC 2 Regular Interest Each of the REMIC 2 Interests other than the Class LT2-R Interest.

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