REMIC X definition

REMIC X. The segregated pool of assets consisting of the Class II-IO Interest conveyed in trust to the Trustee, for the benefit of the holders of REMIC X Regular Interest IO and the Class II-RX Certificate (in respect of the Class II-R-10 Interest), with respect to which a separate REMIC election is to be made.
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REMIC X. The segregated pool of assets consisting of the REMIC 3 Uncertificated Regular Interests, conveyed in trust to the Trustee, for the benefit of the Holders of the Class C Certificates, the Class P Certificates, and the Class R-X Certificates, pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
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REMIC X. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC X, each of which (other than the R-X interest) is hereby designated as a regular interest in REMIC X (the “REMIC X Regular Interests”): REMIC Interest Initial Principal Balance of REMIC Interest Interest Rate Corresponding Class of Certificate T10-II-A-1(5) (6) (1) II-A-1 T10-II-A-2A(5) (6) (1) II-A-2A T10-II-A-2B(5) (6) (1) II-A-2B T10-II-A-3(5) (6) (1) II-A-3 T10-II-A-4(5) (6) (1) II-A-4 T10-II-A-5(5) (6) (1) II-A-5 T10-II-A-65) (6) (1) II-A-6 T10-II-A-75) (6) (1) II-A-7 T10-II-M-1(5) (6) (1) II-M-1 T10-II-M-2(5) (6) (1) II-M-2 T10-II-M-3(5) (6) (1) II-M-3 T10-II-M-4(5) (6) (1) II-M-4 T10-II-M-5(5) (6) (1) II-M-5 T10-II-M-6(5) (6) (1) II-M-6 T10-II-M-7(5) (6) (1) II-M-7 T10-II-M-8(5) (6) (1) II-M-8 T10-II-M-9(5) (6) (1) II-M-9 T10-II-P(5) (6) (1) II-P T10-Accrual Interest (8) (7) (1) N/A T10-IO (3) (3) N/A T10-A2A-IO (10) (10) N/A T10-A5-IO (2) (2) N/A T10-Subs-IO (9) (9) N/A R-X (4) (4) N/A ____________________
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Examples of REMIC X in a sentence

  • The Group II Supplemental Interest Trust shall hold the Group II Swap Agreement, the rights in respect of the Swap Administration Agreement that relate to Loan Group II, the Group II Swap Account and REMIC X Regular Interest IO.

  • The last payment with respect to the regular interests issued by REMIC X is to be made on January 15, 2014, to persons who hold the regular interests on December 31, 2013.

  • On the Startup Day, the REMIC X Regular Interests will be designated "regular interests" in such REMIC and the Class R-X Certificate will be designated the "residual interests" in such REMIC.

  • The parties intend that each of REMIC X, REMIC I and REMIC II shall be treated as a REMIC for federal income tax purposes and that the provisions of this Agreement should be construed in furtherance of this intent.

  • The Trustee on behalf of the Trust shall make an election for the assets constituting REMIC X to be treated for federal income tax purposes as a REMIC.

  • The Trustee acknowledges receipt of the REMIC X Regular Interests (which are 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 I Interests.

  • The Seller, concurrently with the execution and delivery hereof, does hereby transfer, assign, set over and otherwise convey in trust to the Trustee without recourse all the right, title and interest of the Seller in and to the REMIC X Regular Interests for the benefit of the holders of the REMIC I Interests.

  • For the purposes of the REMIC election in respect of REMIC X, the Class C Certificates and the Class P Certificates shall be designated as the Regular Interests in REMIC X and the Class R-X Interest shall be designated as the Residual Interest in REMIC X.

  • The REMIC X Regular Interests shall constitute the assets of REMIC XI (the “Group II Master REMIC”).

  • The provisions of this section may be illustrated by the fol- lowing example:Example (i) During the calendar quarter ending March 31, 1989, REMIC X, which is not a single-class REMIC, incurs $900 of allocable investment expenses.

Related to REMIC X

  • REMIC V The segregated pool of assets consisting of the Class P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class P Certificates and the Class RX Certificate (in respect of the Class R-5 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC VI The segregated pool of assets consisting of the Class IO Interest conveyed in trust to the Trustee, for the benefit of the Holders of REMIC VI Regular Interest IO and the Class RX Certificate (in respect of the Class R-6 Interest), with respect to which a separate REMIC election is to be made.

  • REMIC 3 The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the Class R Certificate (in respect of the Class R-3 Interest), pursuant to Article II hereunder, and all amounts deposited therein, 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 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 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 2 As described in the Preliminary Statement.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • 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 Regular Interests The REMIC I Regular Interests and REMIC II Regular Interests.

  • REMIC 1 As described in the Preliminary Statement.

  • REMIC Regular Interest Any REMIC I Regular Interest or REMIC II Regular Interest.

  • REMIC I Assets All of the Mortgage Pool Assets.

  • REMIC II Interests means, collectively, the REMIC II Regular Interests and the Class R-II Certificates.

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

  • 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 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 III Regular Interests The Classes of undivided beneficial interests in REMIC III designated as “regular interests” in the table titled “REMIC III Interests” in the Preliminary Statement hereto.

  • REMIC II Regular Interests The Classes of undivided beneficial interests in REMIC II designated as “regular interests” in the table titled “REMIC II Interests” in the Preliminary Statement hereto. The REMIC II Regular Interests, together with the Class R-2 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • REMIC I Regular Interests The Classes of undivided beneficial interests in REMIC I designated as “regular interests” in the table titled “REMIC I Interests” in the Preliminary Statement hereto. The REMIC I Regular Interests, together with the Class R-1 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • 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 II Assets The REMIC I Regular Interests.