Subsidiary REMIC Regular Interest definition

Subsidiary REMIC Regular Interest. Any one of the "regular interests" in the Subsidiary REMIC described in the Preliminary Statement.
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Subsidiary REMIC Regular Interest. Not applicable.
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Examples of Subsidiary REMIC Regular Interest in a sentence

  • The Trustee will hold the Subsidiary REMIC Regular Interest for the benefit of the Master REMIC.

  • Each Subsidiary REMIC Regular Interest shall receive principal distributions and allocations of Realized Losses equal to those for its corresponding class in the Master REMIC.

  • The following table irrevocably sets forth the designation, the initial Uncertificated Principal Balance and the Uncertificated Subsidiary REMIC Pass-Through Rate of each Subsidiary REMIC Regular Interest.

  • Such Subsidiary REMIC balance will be reduced by amounts distributed in respect of the Principal Distribution Amount (allocated as provided below), and by any Realized Losses previously allocated thereto, until the Subsidiary REMIC balance of Subsidiary REMIC Regular Interest 4 has been reduced to zero.

  • The Subsidiary REMIC will consist of all of the assets constituting the Trust Fund (including $100 put in trust for the benefit of the Class P Certificate, but excluding the Yield Maintenance Agreements and the Carryover Reserve Funds and will be evidenced by (i) the Subsidiary REMIC Regular Interest (the "Uncertificated Subsidiary REMIC Regular Interests") and will represent the "regular interests" in the Subsidiary REMIC and (ii) the SR Interest as the single "residual interest" in the Subsidiary REMIC.

  • The initial Subsidiary REMIC balance of Subsidiary REMIC Regular Interest 1 will be equal to the outstanding balances of the Mortgage Loans in the Fixed Rate Group.

  • On each Payment Date the Trustee shall be deemed to distribute from the Master REMIC, to the holders of the Certificates in the priority set forth in Section 8.04(b), the Subsidiary REMIC Regular Interest Distribution Amounts deemed to have been received by the Master REMIC from the Subsidiary REMIC under this Section 8.09.

  • Regular Interest 16 will be a principal-only Subsidiary REMIC Regular Interest and will not bear interest.

  • For purposes of the REMIC election in respect of the Subsidiary B REMIC, (i) the Subsidiary REMIC Regular Interest SB-1 shall be designated as the sole class of "regular interests" in the Subsidiary B REMIC and (ii) the Class C Subsidiary B Certificate shall be designated as the sole class of "residual interests" in the Subsidiary B REMIC.

  • The Subsidiary REMIC Regular Interest 4 will bear interest at the rate equal to the weighted average of the Mortgage Rates of the Mortgage Loans in the Adjustable Rate Group.

Related to Subsidiary REMIC Regular Interest

  • Lower Tier REMIC Regular Interest As specified in the Preliminary Statement.

  • Corresponding REMIC II Regular Interest means the REMIC II Regular Interest or one of the REMIC II Regular Interests, as applicable, designated as such in the Preliminary Statement with respect to any Class of Principal Balance Certificates, any E▇ ▇▇▇▇▇ III Regular Interest, any Class of Class X Certificates or any Class X REMIC III Regular Interest.

  • Corresponding REMIC I Regular Interest means with respect to each Mortgage Loan, the REMIC I Regular Interest having an initial Certificate Balance equal to the Principal Balance of such Mortgage Loan outstanding as of the Cut-Off Date, after taking into account all principal and interest payments made or due prior to the Cut-Off Date.

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

  • 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.