REMIC IX definition

REMIC IX. The segregated pool of assets consisting of the Class II-P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class II-P Certificates and the Class II-RX Certificate (in respect of the Class II-R-9 Interest), with respect to which a separate REMIC election is to be made.
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REMIC IX. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC IX, each of which (other than the R-IX interest) is hereby designated as a regular interest in REMIC IX (the “REMIC IX Regular Interests”): T9-A (4) (1) T9-F1 $ 101,034,000.00 (2) T9-V1(6) $ 101,034,000.00 (3) T9-IO (7) (7) T9-A2A-IO (9) (9) T9-Subs-IO (8) (8) R-IX (5) (5) ___________________
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REMIC IX. As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the Class I-Swap-IO REMIC III Regular Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC IX." The Class RX-IX Interest represents the sole class of "residual interests" in REMIC IX for purposes of the REMIC Provisions. The following table sets forth (or describes) the designation, Pass-Through Rate and initial Uncertificated Balance for the Class I-Swap-IO REMIC IX Regular Interest comprising the "regular interest" in REMIC IX for purposes of the REMIC Provisions: Initial Latest Possible Designation Pass-Through Rate Uncertificated Balance Maturity Date(1) ----------- ----------------- ---------------------- ---------------- I-Swap-IO (2) (2) December 25, 2036 _____________________
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Examples of REMIC IX in a sentence

  • The Class II-R-9 Interest represents the sole class of Residual Interests in REMIC IX for purposes of the REMIC Provisions.

  • The Trustee acknowledges receipt of the Class II-P Interest (which is uncertificated) and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the REMIC IX Certificates.

  • Thus, each Certificate (other than the Class P Certificates and Residual Certificates) shall be treated as representing not only ownership of a Regular Interest in REMIC III, REMIC VII, REMIC VIII, REMIC IX, REMIC X, and REMIC XI, as applicable, but also ownership of an interest in, and obligations with respect to, a notional principal contract.

  • Each of REMIC I, REMIC II, REMIC III, REMIC IV and REMIC V (each a “Group I REMIC”) shall relate to Group I, and each of REMIC VI, REMIC VII, REMIC VIII, REMIC IX, REMIC X and REMIC XI (each a “Group II REMIC”) shall relate to Group II.

  • The Securities Administrator shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX, REMIC X and REMIC XI be treated as a REMIC under Section 860D of the Code.

  • As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Class A-2B1 Swap-IO Interest as a REMIC for federal income tax purposes, and such segregated pool of assets shall be designated as “REMIC IX.” The Class R-IX Interest represents the sole class of “residual interests” in REMIC IX for purposes of the REMIC Provisions.

  • The REMIC VIII Regular Interests shall constitute the assets of REMIC IX.

  • The REMIC IX Regular Interests shall constitute the assets of REMIC X.

  • Trust REMIC: Each of REMIC I, REMIC II, REMIC III, REMIC IV, REMIC V, REMIC VI, REMIC VII, REMIC VIII, REMIC IX, REMIC X, REMIC XI and REMIC XII.

  • The Trustee acknowledges receipt of the Class A-2B1 Swap-IO Interest and declares that it holds and shall hold the same in trust for the exclusive use and benefit of the Holders of the REMIC IX Regular Interest Class A-2B1 Swap-IO and the Class R Certificates (in respect of the Class R-IX Interest).

Related to REMIC IX

  • 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 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 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.

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

  • 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.