REMIC Trust Account definition

REMIC Trust Account. The account created and maintained pursuant to Section 4.06 hereof.
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Examples of REMIC Trust Account in a sentence

  • Distributions on the Lower Tier Regular Interests shall be made to the Trustee of the Upper Tier REMIC by transfer of immediately available funds to the REMIC Trust Account.

  • To the extent that the REMIC Trust Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from the REMIC Trust Account shall be deemed to refer to credits and debits to the related books of the Trustee.

  • Xxxxxx Mae shall deposit in the REMIC Trust Account all distributions on the Lower Tier Regular Classes received by it as Trustee of the Upper Tier REMIC hereunder.

  • Any manner or manners in which the REMIC Trust Account is maintained may at any time be changed (but must comply with clauses (i), (ii) or (iii) above) without notice to, or the approval of, Holders of the Upper Tier REMIC Certificates so long as funds held in the Upper Tier REMIC by, or for the account of, the Trustee shall at all times be identified.

  • All distributions on the Lower Tier Regular Classes deposited from time to time in REMIC Trust Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in REMIC Trust Account as part of Upper Tier REMIC as herein provided, subject to withdrawal by Xxxxxx Xxx for the purposes set forth in Section 3.04.

  • All distributions on the Lower Tier Regular Classes deposited from time to time in the REMIC Trust Account and all investments made with such moneys, including all income or other gain from such investments, shall be held by the Trustee in the REMIC Trust Account as part of the Upper Tier REMIC as herein provided, subject to withdrawal by Xxxxxx Xxx for the purposes set forth in Section 4.10.

  • To the extent that REMIC Trust Account is maintained by the Trustee in the manner provided for in clause (ii) above, all references herein to deposits and withdrawals from REMIC Trust Account shall be deemed to refer to credits and debits to the related books of the Trustee.

  • In the event that amounts shall remain in the REMIC Trust Account in any month following the distribution of the Certificate Distribution Amount for such month, such amounts may be withdrawn by Xxxxxx Xxx as compensation for its administrative and guaranty obligations or as reimbursement to Xxxxxx Mae for any advance by it pursuant to such guaranty obligations under Section 3.04 hereof.

  • In addition, in the event that on any Distribution Date that is a Final Distribution Date for a Class of Upper Tier REMIC Certificates, the applicable portion of the REMIC Trust Account will not be sufficient to reduce the Class Balance of such Class (other than the Interest Only Classes) to zero on such Final Distribution Date, then Xxxxxx Mae shall apply its own funds to remedy the same.

  • In the event that the amount on deposit in the REMIC Trust Account shall be less than the Certificate Distribution Amount for the Group 1 Classes for such Distribution Date, then Xxxxxx Xxx shall provide from its own funds the amount of any insufficiency.

Related to REMIC Trust Account

  • REMIC Trust means a “real estate mortgage investment conduit” within the meaning of Section 860D of the Code that holds the Note.

  • Trust Accounts has the meaning assigned thereto in Section 5.1.

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • Trust Funds means any cash comprised of (i) funds specifically and exclusively used for payroll Taxes, payroll and other employee benefit payments to or for the benefit of any Loan Party’s or its Subsidiaries’ employees, (ii) all Taxes required to be collected, remitted or withheld (including, without limitation, federal and state withholding taxes (including the employer’s share thereof) and (iii) any other funds (A) which any Loan Party holds on behalf of another Person and (B) which such Loan Party holds as an escrow or fiduciary for such Person.

  • Trust Account means the trust account established by the Company upon the consummation of its IPO and into which a certain amount of the net proceeds of the IPO, together with a certain amount of the proceeds of a private placement of warrants simultaneously with the closing date of the IPO, will be deposited.

  • Trust Fund The trust fund established by the Trust Agreement, the assets of which consist of the Mortgage Loans and any other assets as set forth therein. Trustee: U.S. Bank National Association, or any successor in interest, or if any successor trustee or co-trustee shall be appointed as provided in the Trust Agreement, then such successor trustee or such co-trustee, as the case may be.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Trust Account Property means the Trust Accounts, all amounts and investments held from time to time in any Trust Account (whether in the form of deposit accounts, Physical Property, book-entry securities, uncertificated securities or otherwise), and all proceeds of the foregoing.

  • REMIC II Assets The REMIC I Regular Interests.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1(a)(ii).

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • 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 I Assets All of the Mortgage Pool Assets.

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

  • Grantor Trust means a Trust other than a RIC.

  • Collection Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • REMIC III Certificateholder The Holder of any REMIC III Certificate.