REMIC IC definition

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

  • One of the separate non-certificated beneficial ownership interests in REMIC IC issued under the Indenture and designated as a Regular Interest in REMIC IC.

  • Neither the Trustee nor the Trust Administrator shall permit the creation of any “interests” in REMIC I-A, REMIC I-B or REMIC I-C (within the meaning of Section 860G of the Code) other than the REMIC I-A Regular Interests, REMIC I-B Regular Interests and the Group 1 Certificates.

  • For the purposes of the REMIC election in respect of REMIC I-C, the Group 1 Certificates (other than the Class 1-R Certificates) shall be designated as the Regular Interests in REMIC I-C and the Class R-IC Residual Interest shall be designated as the Residual Interest in REMIC I-C.

  • The rights of the Holder of the Class R-IC Interest and REMIC IC (as holder of the REMIC IB Regular Interests) to receive distributions from the proceeds of REMIC IC in respect of the Class R-IC Interest and Regular Certificates, respectively, and all ownership interests evidenced or constituted by the Class R-IC Interest and the REMIC IC Regular Interests, shall be as set forth in this Agreement.

  • The REMIC IB Regular Interests shall constitute the assets of REMIC IC.

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

  • For the purposes of the REMIC election in respect of REMIC I-C, the Group 1 Certificates or Components thereof (other than the Class 1-R Certificates), shall be designated as the Regular Interests in REMIC I-C and the Class R-IC Residual Interest shall be designated as the Residual Interest in REMIC I-C.

  • The interests evidenced by the Certificates constitute the entire beneficial ownership interest in REMIC I-C and REMIC II-B.

  • Neither the Trustee nor the Trust Administrator shall permit the creation of any “interests” in REMIC II-A, REMIC II-B, REMIC II-C or REMIC II-D (within the meaning of Section 860G of the Code) other than the REMIC II-A Regular Interests, the REMIC II-B Regular Interests, the REMIC I-C Regular Interests and the Group II Certificates.

  • Neither the Trustee nor the Trust Administrator shall permit the creation of any “interests” in REMIC I-A, REMIC I-B or REMIC I-C (within the meaning of Section 860G of the Code) other than the REMIC I-A Regular Interests, the REMIC I-B Regular Interests and the Group I Certificates.