REMIC II Regular Interest A-2 definition

REMIC II Regular Interest A-2 means the uncertificated interest designated as a “regular interest” (within the meaning of the REMIC Provisions) in REMIC II, which shall consist of an interest having a REMIC II Principal Amount equal to the Aggregate Certificate Balance of the Class A-2 Certificates, and which has a Pass-Through Rate equal to the Weighted Average REMIC I Net Mortgage Rate from time to time.
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REMIC II Regular Interest A-2. One of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a Regular Interest in REMIC II. REMIC II Regular Interest A-2 shall accrue interest at the related Uncertificated REMIC II 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.
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REMIC II Regular Interest A-2. A regular interest in REMIC II that is held as an asset of REMIC III, that has an initial principal balance equal to the related Uncertificated Principal Balance, that bears interest at the related Uncertificated REMIC II Pass-Through Rate, and that has such other terms as are described herein.
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Examples of REMIC II Regular Interest A-2 in a sentence

  • A-1 Holder will be the holder of Herald Center REMIC II Regular Interest A-2 and Herald Center REMIC II Regular Interest A-4, (ii) the Note A-2 Holder will be the holder of Herald Center REMIC II Regular Interest A-1, and (iii) the Note A-3 Holder will be the holder of Herald Center REMIC II Regular Interest A-3.

  • For tax reporting purposes, (i) the Note A-1 Holder will be the holder of Herald Center REMIC II Regular Interest A-2 and Herald Center REMIC II Regular Interest A-4, (ii) the Note A-2 Holder will be the holder of Herald Center REMIC II Regular Interest A-1, and (iii) the Note A-3 Holder will be the holder of Herald Center REMIC II Regular Interest A-3.

  • If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Uncertificated Principal Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2 shall be reduced on a pro rata basis in accordance with the relative sizes of such Uncertificated Principal Balances, until any such remaining excess is reduced to zero.

  • If, after the foregoing reductions, the amount described in CLAUSE (i) of the second preceding sentence still exceeds the amount described in CLAUSE (ii) of such sentence, then the respective Uncertificated Principal Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2 shall be reduced on a PRO RATA basis in accordance with the relative sizes of such Uncertificated Principal Balances, until any such remaining excess is reduced to zero.


More Definitions of REMIC II Regular Interest A-2

REMIC II Regular Interest A-2 means the REMIC II Regular Interest that bears the designation "A-2".
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REMIC II Regular Interest A-2. A regular interest in REMIC II which is has a principal balance equal to the principal balance of the Class A-2 Certificates and which is entitled to interest at a rate equal to the lesser of (i) LIBOR plus the Class A-2 Margin and (ii) the Net WAC Cap Rate. Interest accrued in any Interest Accrual Period and not paid on the related Distribution Date shall carry forward to each succeeding Distribution Date without interest until paid.
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Related to REMIC II Regular Interest A-2

  • REMIC II Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a “regular interest” in REMIC II. Each REMIC II Regular Interest shall accrue interest at the related REMIC II Remittance 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 Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC II Regular Interests are set forth in the Preliminary Statement hereto.

  • REMIC III Regular Interest The Class CE Interest, Class P Interest, Class IO Interest or any Regular Interest in REMIC III the ownership of which is represented by any of the Class A Certificates or Class M Certificates.

  • REMIC I Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a "regular interest" in REMIC I. Each REMIC I Regular Interest shall accrue interest at the related REMIC I Remittance 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 Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC I Regular Interests are set forth in the Preliminary Statement hereto.

  • REMIC I Regular Interest I-LTP One of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a Regular Interest in REMIC I. REMIC I Regular Interest I-LTP shall be entitled to any Prepayment Charges collected by the Master Servicer and to a distribution of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto.

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