Examples of Residual Interest in a sentence
A REMIC Certificate issued pursuant to this Agreement, which is all or part of either a Regular Class or a Residual Class and which represents all or part of either a Regular Interest or a Residual Interest in a particular REMIC Pool.
Upon surrender for registration of transfer of any Certificate in certificated form, the Registrar shall execute and deliver, in the name of the designated transferee or transferees, one or more new Certificates evidencing a like principal or notional principal amount (or, if applicable, a like percentage of the Residual Interest).
All of the REMIC Certificates that together represent one of the Regular Interests in a REMIC Pool or all of the REMIC Certificates that together represent the Residual Interest in a REMIC Pool.
Unless otherwise provided in the related Terms Supplement, Residual Classes shall not be issued in book-entry form but shall be issued only in fully registered, certificated form in minimum original principal amounts (or minimum original notional principal amounts) of $1,000 and additional increments of $1 or, in the case of a Residual Class without an Original Principal Amount, in minimum percentages of the Residual Interest of 1%.
Any duplicate Certificate so issued shall constitute complete and indefeasible evidence of ownership of that portion of the Regular Interest or Residual Interest of the related REMIC Pool, or that portion of the related MACR Pool, represented thereby, whether or not the lost, stolen or destroyed Certificate shall be found at any time.