REMIC III Component definition

REMIC III Component. Any of the separate beneficial ownership interests in REMIC III issued hereunder, evidenced by a Class of Interest Only Certificates. The REMIC III Components have the designations provided for in the Preliminary Statement hereto and each constitutes a “regular interest” in REMIC III (within the meaning of Section 860G(a)(1) of the Code). The REMIC III Components have the terms provided for in Section 2.15.
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REMIC III Component means:
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REMIC III Component means any of the separate "regular interests" in REMIC III evidenced by the Class X Certificates, each of which: (i) relates to its Corresponding REMIC II Regular Interest; (ii) accrues interest at its Pass-Through Rate in effect from time to time; and (iii) has a Component Notional Amount equal to the Uncertificated Principal Balance of its Corresponding REMIC II Regular Interest outstanding from time to time. The REMIC III Components shall have the following alphabetic and alphanumeric designations: X-A-1; X-A-2; X-A-3; X-A-AB; X-A-4; X-A-1A; X-A-M; X-A-J; X-B; X-C; X-D; X-E; X-F; X-G; X-H; X-J; X-K; X-L; X-M; X-N; X-P; X-Q; X-S; and X-T.
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Examples of REMIC III Component in a sentence

  • The REMIC III Component of the Class X-E Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-E Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-D Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-D Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-C Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-C Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-G Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-G Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-F Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-F Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The REMIC III Component of the Class X-Y Certificates is hereby irrevocably assigned the alphanumeric designation under the column heading “REMIC III Component of Class X-Y Certificates” in the table that appears under “Corresponding REMIC II Regular Interests”.

  • The Component Notional Amount of the REMIC III Component of the Class X-E Certificates is, as of any date of determination, equal to the then-current Uncertificated Principal Balance of the REMIC II Regular Interest that is the Corresponding REMIC II Regular Interest for such REMIC III Component.

  • The Component Notional Amount of each REMIC III Component of the Class X-A Certificates is, as of any date of determination, equal to the then-current Uncertificated Principal Balance of the REMIC II Regular Interest that is the Corresponding REMIC II Regular Interest for such REMIC III Component.

  • The Component Notional Amount of each REMIC III Component of the Class X-B Certificates is, as of any date of determination, equal to the then-current Uncertificated Principal Balance of the REMIC II Regular Interest that is the Corresponding REMIC II Regular Interest for such REMIC III Component.

  • For purposes of accruing interest, however, each REMIC III Component of the Class X-A Certificates, each REMIC III Component of the Class X-B Certificates, the REMIC III Component of the Class X-E Certificates, the REMIC III Component of the Class X-F Certificates and the REMIC III Component of the Class X-G Certificates shall have a Component Notional Amount.


More Definitions of REMIC III Component

REMIC III Component means any of the following 21 components of the Class X Certificates: REMIC III Component X-A-1; REMIC III Component X-A-2; REMIC III Component X-A-3; REMIC III Component X-A-4; REMIC III Component X-A-1b; REMIC III Component X-B; REMIC III Component X-C; REMIC III Component X-D; REMIC III Component X-E; REMIC III Component X-F; REMIC III Component X-G; REMIC III Component X-H; REMIC III Component X-J; REMIC III Component X-K; REMIC III Component X-L; REMIC III Component X-M; REMIC III Component X-N; REMIC III Component X-P; REMIC III Component X-Q; REMIC III Component X-S; and REMIC III Component X-T; each of which (i) constitutes a separate "regular interest" in REMIC III for purposes of the REMIC Provisions, (ii) relates to its Corresponding REMIC II Regular Interest, and (iii) has a Component Notional Amount equal to the Uncertificated Principal Balance of its Corresponding REMIC II Regular Interest outstanding from time to time.
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