Separate Interest Trust definition

Separate Interest Trust. A trust created pursuant to Section 4.8(a) of this Agreement which is not an asset of any REMIC created hereunder.
Sample 1Sample 2Sample 3
Separate Interest Trust. As defined in Section 5.09 hereof.
Sample 1
Separate Interest Trust. A trust created pursuant to Section 3.6(a) of this Agreement.
Sample 1Sample 2

Examples of Separate Interest Trust in a sentence

  • The Separate Interest Trust shall not be an asset of the Trust Fund or any REMIC established hereby.

  • The Corridor Residual Owner will own the residual interest in the Separate Interest Trust.

  • The Reserve Fund shall be an asset of the Separate Interest Trust.

  • The segregated pool of assets consisting of the Trust Fund but excluding the Retained Yield, the Middle REMIC Interests, the Lower REMIC Interests, the RL Interest, the RM Interest, the RU Interest and the Separate Interest Trust.

  • The Corridor Contract and the Reserve Fund will also be assets of the Separate Interest Trust.

  • The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contract, including, without limitation, the representations and warranties of the parties contained therein.

  • The Trustee shall be the trustee of the Separate Interest Trust and shall have no responsibility for the contents, adequacy or sufficiency of the Corridor Contracts including without limitation, the representations and warranties of the parties contained therein.

  • Pursuant to Section 12.01 of the Standard Terms, the Securities Administrator, on behalf of the Trustee, shall make an election to treat all of the Trust Estate (exclusive of the Separate Interest Trust) as three real estate mortgage investment conduits (each, a “REMIC” and, individually, “REMIC I-1,” “REMIC I-2” and “REMIC I-3”) for federal income tax purposes.

  • The Corridor Reserve Fund shall be an asset of the Separate Interest Trust.

  • Pursuant to Section 12.01 of the Standard Terms, the Securities Administrator, on behalf of the Trustee, shall make an election to treat all of the Trust Estate (exclusive of the Separate Interest Trust) as five real estate mortgage investment conduits (each, a “REMIC” and, individually, “REMIC LT1,” “REMIC LT2,” “REMIC LT3,” “REMIC MT” and “REMIC UT”) for federal income tax purposes.

Related to Separate Interest Trust

  • Supplemental Interest Trust The corpus of a trust created pursuant to Section 5.07 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Interest Rate Cap Account, the right to receive the Class X Distributable Amount as provided in Section 5.02(f)(vi), the Class LT4-I interest in REMIC 4 and the right to receive Class I Shortfalls.

  • Supplemental Interest Trust Trustee Xxxxx Fargo Bank, N.A., a national banking association, not in its individual capacity but solely in its capacity as supplemental interest trust trustee, and any successor thereto.

  • First trust means a trust over which an authorized fiduciary may exercise the decanting power.

  • Grantor Trust means a Trust other than a RIC.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Class C Trust Class C Trustee", "Class D Certificate" and "Class D Trust", shall have the respective meanings assigned to such terms in the Intercreditor Agreement.

  • Master Trust means Citibank Credit Card Master Trust I.

  • Distributable Certificate Interest means, with respect to any Class of REMIC III Regular Certificates for any Distribution Date, the sum of (A) Accrued Certificate Interest in respect of such Class for such Distribution Date, reduced (to not less than zero) by (1) any Net Aggregate Prepayment Interest Shortfall allocated on such Distribution Date to such Class pursuant to Section 6.7, (2) with respect to each Class of the Class B, Class C, Class D and Class E Certificates, any Trust Advisor Expenses allocated on such Distribution Date to such Class in reduction of the Distributable Certificate Interest thereon pursuant to Section 6.11, and (3) with respect to each Class of the Class C, Class D and Class E Certificates, any amounts reimbursable in accordance with Section 6.11(c), out of amounts otherwise distributable as interest in respect of such Class, to any more senior Class of Certificates on such Distribution Date in respect of Trust Advisor Expenses allocated on prior Distribution Dates to such more senior Class of Certificates pursuant to Section 6.11, plus (B) if such Distribution Date is subsequent to the initial Distribution Date, any Unpaid Interest in respect of such Class for such Distribution Date, plus (C) in the case of a Class of Principal Balance Certificates, if the Certificate Balances of such Principal Balance Certificates are increased on such Distribution Date in accordance with clause (b) of the definition of “Certificate Balance”, the total amount of interest at the applicable Pass-Through Rate that would have accrued and been distributable with respect to the amount by which the related Aggregate Certificate Balance was so increased, if such Aggregate Certificate Balance had not been reduced by that amount in connection with the allocation of Collateral Support Deficits in the first place and assuming that the reinstatement of Certificate Balance is in reverse chronological order of the original reductions therein, plus (D) in the case of each Class of the Class B, Class C, Class D and Class E Certificates, the amount of any Actual Recoveries of Trust Advisor Expenses allocated in accordance with Section 6.11(c) to such Class of Certificates to increase the Distributable Certificate Interest thereof for such Distribution Date, plus (E) in the case of each Class of the Class B, Class C and Class D Certificates, any amounts reimbursed in accordance with Section 6.11(c) to such Class of Certificates by any more junior Class of Certificates on such Distribution Date in respect of Trust Advisor Expenses allocated on prior Distribution Dates to the subject Class of Certificates pursuant to Section 6.11. Any increase in the Distributable Certificate Interest with respect to any Class of Principal Balance Certificates for any Distribution Date pursuant to clause (C) of the prior sentence shall result in a corresponding reduction of interest payable on unreimbursed allocations of Collateral Support Deficits in respect of such Class of Principal Balance Certificates.

  • PFPC Trust means PFPC Trust Company or a subsidiary or affiliate of PFPC Trust Company.

  • Interest Transfer Amount For any Distribution Date and for any Undercollateralized Group, an amount equal to one month's interest on the applicable Principal Transfer Amount at the weighted average Certificate Interest Rate of the applicable Undercollateralized Group, plus any interest accrued on such Undercollateralized Group remaining unpaid from prior Distribution Dates.

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

  • Private interest means an interest held by an individual that is:

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Certificate Interest means the allocable percentage interest of a Certificate held by a Certificateholder.

  • 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.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Trust Student Loan means any student loan that is listed on the Schedule of Trust Student Loans on the Closing Date, plus any Additional Loan, plus any Substituted Loan that is permissibly substituted for a Trust Student Loan by the Depositor pursuant to Section 6(B) of the Sale Agreement or pursuant to Section 6(B) of an Additional Sale Agreement, or by the Servicer pursuant to Section 3.5 of the Servicing Agreement, but shall not include any Purchased Loan following receipt by or on behalf of the Trust of the Purchase Amount with respect thereto or any Liquidated Student Loan following receipt by or on behalf of the Trust of Liquidation Proceeds with respect thereto or following such Liquidated Student Loan having otherwise been written off by the Servicer.

  • Swap Account The account or accounts created and maintained pursuant to Section 4.08. The Swap Account must be an Eligible Account.

  • Basis Risk Reserve Fund A fund created as part of the Trust Fund pursuant to Section 5.06 of this Agreement but which is not an asset of any of the REMICs.

  • Certificate Interest Rate With respect to each Class of Certificates and any Distribution Date, the applicable per annum rate set forth or described in the Preliminary Statement hereto.

  • Related Trust Means the Continental Pass Through Trust 1998-3A-2-O, formed under the Related Pass Through Trust Agreement.

  • Pre-Funding Account means the account designated as the Pre-Funding Account in, and which is established and maintained pursuant to Section 7.07.