Examples of Uncertificated Lower-Tier Interests in a sentence
The Uncertificated Lower-Tier Interests shall constitute the "regular interests" in the Lower-Tier REMIC.
Each such election will be made on Form 1066 or other appropriate federal tax return for the taxable year ending on the last day of the calendar year in which the Uncertificated Lower-Tier Interests and the Certificates are issued.
Such amount shall be distributed in respect of interest and principal in respect of the Uncertificated Lower-Tier Interests in the same amounts as distributed to their Corresponding Upper-Tier Class or Classes in the manner specified in Section 4.01(a)(ii).
The Trustee acknowledges (i) the assignment to it of the Mortgage Loans and (ii) the issuance of and hereby declares that it holds the Uncertificated Lower-Tier Interests on behalf of the Upper-Tier REMIC and Certificateholders.
The Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust.