Residual Interest Holders definition

Residual Interest Holders. Except as otherwise provided in the related Series Supplement, with respect to any Series for which a REMIC election or elections has or have been made or will be made in respect of the Trust Estate or other assets specified in such election and securing such Series, the owner or assignee of the Residual Interest of each such REMIC or an undivided interest in the Residual Interest of each such REMIC.
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Examples of Residual Interest Holders in a sentence

  • Nothing in this Section 5.02 shall be deemed to require the Company to prepare any federal income tax return on Internal Revenue Service Form 1066, U.S. Real Estate Mortgage Investment Conduit Income Tax Return, including Schedule Q thereto, Quarterly Notice to Residual Interest Holders of REMIC Taxable Income or Net Loss Allocation, or any successor forms, to be filed on behalf of any REMIC under the REMIC Provisions.

  • The obligations created by the Agreement in respect of the Grantor Trust Certificate and the Grantor Trust created thereby shall terminate only upon the liquidation of all the Home Loans or the Majority Residual Interest Holders' purchase of all the Home Loans pursuant to Section 11.02 of the Sale and Servicing Agreement; provided, however, that the Trust Fund will in no event continue beyond the expiration of 21 years from the death of the last survivor of the descendants of Jxxxxx X.

  • The Majority Residual Interest Holders (as defined in the Trust Agreement) may, at their option, effect an early redemption of the Notes on or after any Distribution Date on which the Pool Principal Balance declines to 10% or less of the Maximum Collateral Amount.

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  • No co-trustee or separate trustee under this Agreement shall be required to meet the terms of eligibility as a successor Owner Trustee pursuant to Section 15.11 hereof and no notice to the Residual Interest Holders or the Certificateholders of the appointment of any co-trustee or separate trustee shall be required pursuant to Section 15.13 hereof.

  • The rights of the Certificateholders and the Residual Interest Holders shall be subordinated to the rights of the Noteholders.

  • Neither the Residual Interest Holders nor the Certificateholders shall have legal title to any part of the Trust Property.

  • Primedia’s sole payment obligation hereunder shall be to deliver the Put Price to the Stockholder Representatives, and Primedia shall have no liability to any Minority Stockholders and/or Residual Interest Holders with respect to distribution of the Put Price.

  • The Residual Interest Holders and the Certificateholders shall be entitled to receive distributions only in accordance with the Indenture and this Agreement.

  • The Owner Trustee shall deliver to the Residual Interest Holders and the Certificateholders, as may be required by the Code and applicable Treasury Regulations, or as may be requested by such Certificateholders, such information, reports or statements as may be reasonably necessary to enable the Residual Interest Holders and the Certificateholders to prepare their federal, State and local income tax returns.

Related to Residual Interest Holders

  • Residual Interest The sole class of "residual interests" in a REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • Residual Interests As specified in the Preliminary Statement.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, 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.

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Residual Interest Certificate means any of the Class R-I Certificates, the Class R-II Certificates, the Class R-III Certificates or, if issued in accordance with Section 2.06, the Class R-LR Certificates.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • Senior Interest Holders means, collectively, the Lenders, the Administrative Agent, the Borrower Indemnified Parties, the Servicer Indemnified Parties and the Affected Persons.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Class R Certificateholder The registered Holder of the Class R Certificate.

  • Certificateholders shall reflect the rights of Certificate Owners as they may indirectly exercise such rights through the Depository and participating members thereof, except as otherwise specified herein; provided, however, that the Trustee shall be required to recognize as a "Holder" or "Certificateholder" only the Person in whose name a Certificate is registered in the Certificate Register.

  • Certificateholder means the Person in whose name the Certificate is registered.

  • Interest Holder means any Person who holds an Interest, whether as a Member or as an unadmitted assignee of a Member.

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Class B Certificateholder means the Person in whose name a Class B Certificate is registered in the Certificate Register.

  • Junior Certificateholder The Holder of not less than 95% of the Percentage Interests of the Junior Class of Certificates.

  • Controlling Class Certificateholder Each Holder (or Certificate Owner, if applicable) of a Certificate of the Controlling Class as determined by the Certificate Administrator from time to time.

  • Investor Certificateholder means the holder of record of an Investor Certificate.

  • Collateral Interest Holder means the entity so designated in the Loan Agreement.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Trust Beneficial Owner means the beneficial owner of the Trust Beneficial Interest.

  • Residual Certificates As specified in the Preliminary Statement.

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

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