Uncertificated REMIC II Regular Interest definition

Uncertificated REMIC II Regular Interest has no Uncertificated Principal Balance but will accrue interest at the related Uncertificated REMIC II Pass-Through Rate on the related Uncertificated Notional Amount, which is equal to the Uncertificated Principal Balance of the Uncertificated Corresponding Component. As provided herein, a segregated pool of assets consisting of the Uncertificated REMIC II Regular Interests will be designated as "REMIC III," and the REMIC Administrator will make a separate REMIC election with respect thereto. The Certificates (other than the Class R Certificates) will evidence "regular interests" in REMIC III, and the Class R-III Certificates will evidence the sole class of "residual interests" therein within the meaning of the REMIC Provisions. The following table irrevocably sets forth the designation, Pass-Through Rate, Initial Certificate Principal Balance, and solely for purposes of satisfying Treasury regulation section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for each Class of Certificates representing "regular interests" in REMIC III. Aggregate Initial Pass-Through Certificate Latest Possible Designation Rate Principal Balance Maturity Date(1) ----------- ----- ----------------- ------------- Class A Variable(2) $331,500,000.00 May 15, 2030 Class M-1 Variable(2) $34,000,000.00 May 15, 2030 Class M-2 Variable(2) $20,187,000.00 May 15, 2030 Class B Variable(2) $20,187,000.00 May 15, 2030 Class CE Variable(2) $19,125,900.00(3) May 15, 2030 Class P (4) $100.00 May 15, 2030 ---------------
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Uncertificated REMIC II Regular Interest. As described in the Preliminary Statement.
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Uncertificated REMIC II Regular Interest. Any of the eleven separate non- certificated beneficial ownership interests in REMIC II issued hereunder designated as a "regular interest" in REMIC II. Each Uncertificated REMIC II Regular Interest shall accrue interest at the related Uncertificated REMIC II Pass-Through Rate in effect from time to time, and each Uncertificated REMIC II Regular Interest (other than REMIC II Regular Interest II-LT2S, REMIC II Regular Interest II-LT3S, REMIC II Regular Interest II-LT4S and REMIC II Regular Interest II- LT5S, with respect to principal) shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its related initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The designations for the respective Uncertificated REMIC II Regular Interests are set forth in the Preliminary Statement hereto.
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Examples of Uncertificated REMIC II Regular Interest in a sentence

  • On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c), any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

  • On and after the date of issuance of any Subclass of Class A-V Certificates pursuant to Section 5.01(c) of the Standard Terms, any such Subclass will represent the Uncertificated REMIC II Regular Interest or Interests Z specified by the initial Holder of the Class A-V Certificates pursuant to said Section.

  • The amounts deemed distributed hereunder with respect to the Class A-V Certificates shall be deemed to have been distributed in respect of the Uncertificated REMIC II Regular Interests Z in accordance with their respective Uncertificated REMIC II Regular Interest Distribution Amounts, as such Uncertificated REMIC II Regular Interests Z comprise the Class A-V Certificates.

  • With respect to each Uncertificated REMIC I Regular Interest Z and each Uncertificated REMIC II Regular Interest Z, the Pool Strip Rate for the related Mortgage Loan.

  • With respect to each Uncertificated REMIC I Regular Interest Z, the Pool Strip Rate for the related Mortgage Loan, and with respect to each Uncertificated REMIC II Regular Interest Z, 100% of the Uncertificated Pass-Through Rate on the related identically numbered Uncertificated REMIC I Regular Interest Z.

  • But, we keep silencing ourselves hoping that others will accept us.

  • The Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest and each Uncertificated REMIC II Regular Interest shall never be less than zero.

  • For purposes of the REMIC election in REMIC II, (i) the Uncertificated REMIC II Regular Interest shall be designated at the "regular interests" in REMIC II and the Class R-III Certificates shall be designated as the "sole" Class of residual interest in REMIC II.

  • With respect to the Uncertificated REMIC II Regular Interest III-A Certificates, the Net WAC Rate of the Group III Loans.

  • The amounts deemed distributed hereunder with respect to the Excess Spread and the Variable Strip Certificates shall be deemed to have been distributed in respect of the Uncertificated REMIC II Regular Interests Z in accordance with their respective Uncertificated REMIC II Regular Interest Distribution Amounts, as such NY1-172102.4 109 Uncertificated REMIC II Regular Interests comprise respectively the Excess Spread and the Variable Strip Certificates.


More Definitions of Uncertificated REMIC II Regular Interest

Uncertificated REMIC II Regular Interest. Any of the eleven separate non-certificated beneficial ownership interests in REMIC II issued hereunder designated as a "regular interest" in REMIC II. Each Uncertificated REMIC II Regular Interest (other than Uncertificated REMIC II Regular Interest II-LTP, with respect to interest) shall accrue interest at the related Uncertificated REMIC II Pass-Through Rate in effect from time to time, and each Uncertificated REMIC II Regular Interest shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its related initial Uncertificated Principal Balance as set forth in the Preliminary Statement hereto. The designations for the respective Uncertificated REMIC II Regular Interests are set forth in the Preliminary Statement hereto. UNCERTIFICATED REMIC II REGULAR INTEREST II-LT1: One of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a "regular interest" in REMIC II which shall accrue interest at the related Uncertificated REMIC II Pass-Through 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 Principal Balance as set forth in the Preliminary Statement hereto. UNCERTIFICATED REMIC II REGULAR INTEREST II-LT2: One of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a "regular interest" in REMIC II which shall accrue interest at the related Uncertificated REMIC II Pass-Through 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 Principal Balance as set forth in the Preliminary Statement hereto. UNCERTIFICATED REMIC II REGULAR INTEREST II-LT3: One of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a "regular interest" in REMIC II which shall accrue interest at the related Uncertificated REMIC II Pass-Through 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 Principal Balance as set forth in the Preliminary Statement hereto. UNCERTIFICATED REMIC II REGULAR INTEREST II-LT4: One of the separate non-certificated beneficia...
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Related to Uncertificated REMIC II Regular Interest

  • REMIC II Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a “regular interest” in REMIC II. Each REMIC II Regular Interest shall accrue interest at the related REMIC II 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 II Regular Interests are set forth in the Preliminary Statement hereto.

  • 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.

  • REMIC III Regular Interest The Class CE Interest, Class P Interest, Class IO Interest or any Regular Interest in REMIC III the ownership of which is represented by any of the Class A Certificates or Class M Certificates.

  • Uncertificated REMIC II Pass-Through Rate With respect to any Distribution Date and (i) REMIC II Regular Interests LT1 and LT2, the REMIC II Net WAC Rate, (ii) REMIC II Regular Interest LT3, zero (0.00%), (iii) REMIC II Regular Interest LT4, twice the REMIC II Net WAC Rate, and (iv) REMIC II Regular Interest LT-IO, the excess of (i) the weighted average of the Uncertificated REMIC I Pass-Through Rates for REMIC I Regular Interests ending with the designation "A", over (ii) 2 multiplied by Swap LIBOR.

  • REMIC II Regular Interests REMIC II Regular Interest LT1, REMIC II Regular Interest LT2, REMIC II Regular Interest LT3, REMIC II Regular Interest LT4, REMIC II Regular Interest LT5, REMIC II Regular Interest LT6, REMIC II Regular Interest LT7, REMIC II Regular Interest LT8, REMIC II Regular Interest LT-Y1 and REMIC II Regular Interest LT-Y2.

  • REMIC 2 Regular Interest Each of the REMIC 2 Interests other than the Class LT2-R Interest.

  • REMIC 1 Regular Interest Any of the 238 separate non-certificated beneficial ownership interests in REMIC 1 issued hereunder and designated as a “regular interest” in REMIC 1. Each REMIC 1 Regular Interest shall accrue interest at the related Uncertificated REMIC 1 Pass-Through 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 Principal Balance as set forth in the Preliminary Statement hereto.

  • REMIC III Regular Interests means, collectively, the Class A-1 Certificates, Class A-2 Certificates, Class A-SB Certificates, Class A-3 Certificates, Class A-4 Certificates, Class D Certificates, Class E Certificates, Class F Certificates and Class G Certificates, the EX XXXXX III Regular Interests, the Class H REMIC III Regular Interest and the Class X REMIC III Regular Interests.

  • 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 EX XXXXX III Regular Interest, any Class of Class X Certificates or any Class X REMIC III Regular Interest.

  • REMIC I Regular Interests means, collectively, the uncertificated interests designated as "regular interests" in REMIC I, which shall consist of, with respect to each Mortgage Loan, an interest having an initial Certificate Balance equal to the Cut-Off Date Scheduled Principal Balance of such Mortgage Loan, and which has a Pass-Through Rate equal to the REMIC I Net Mortgage Rate of such Mortgage Loan.

  • REMIC I Regular Interest I-LTP One of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a Regular Interest in REMIC I. REMIC I Regular Interest I-LTP shall be entitled to any Prepayment Charges collected by the Master Servicer and to a distribution 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.

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

  • Uncertificated REMIC I Pass-Through Rate With respect to each REMIC I Group I Regular Interest ending with the designation “A” and any Distribution Date, a per annum rate equal to the weighted average Net Mortgage Rate of the Subgroup I-1 Mortgage Loans multiplied by 2, subject to a maximum rate of 10.1080%. With respect to each REMIC I Group I Regular Interest ending with the designation “B” and any Distribution Date, the greater of (x) a per annum rate equal to the excess, if any, of (1) 2 multiplied by the weighted average Net Mortgage Rate of the Subgroup I-1 Mortgage Loans over (2) 10.1080% and (y) 0.00% per annum. With respect to each REMIC I Group II Regular Interest ending with the designation “A” and any Distribution Date, a per annum rate equal to the weighted average Net Mortgage Rate of the Subgroup I-2 Mortgage Loans multiplied by 2, subject to a maximum rate of 10.1080%. With respect to each REMIC I Group II Regular Interest ending with the designation “B” and any Distribution Date, the greater of (x) a per annum rate equal to the excess, if any, of (1) 2 multiplied by the weighted average Net Mortgage Rate of the Subgroup I-2 Mortgage Loans over (2) 10.1080% and (y) 0.00% per annum. With respect to REMIC I Regular Interest P, 0.00%.

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

  • REMIC Regular Interests The REMIC I Regular Interests and REMIC II Regular Interests.

  • REMIC 2 Regular Interests One of the separate non-certificated beneficial ownership interests in REMIC 2 issued hereunder and designated as a Regular Interest in REMIC 2. Each REMIC 2 Regular Interest shall accrue interest at the related Uncertificated REMIC 2 Pass-Through 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 Principal Balance as set forth in the Preliminary Statement hereto. The following is a list of each of the REMIC 2 Regular Interests: REMIC 2 Regular Interest LTAA, REMIC 2 Regular Interest LTA1, REMIC 2 Regular Interest LTA2, REMIC 2 Regular Interest LTA3, REMIC 2 Regular Interest LTA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10, REMIC 2 Regular Interest LTZZ, REMIC 2 Regular Interest LTP and REMIC 2 Regular Interest LTIO.

  • REMIC 1 Regular Interests REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1P.

  • Uncertificated REMIC 1 Pass-Through Rate With respect to REMIC 1 Regular Interest I and REMIC 1 Regular Interest P, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans. With respect to each REMIC 1 Regular Interest ending with the designation “A”, a per annum rate equal to the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans multiplied by 2, subject to a maximum rate of 10.700%. With respect to each REMIC 1 Regular Interest ending with the designation “B”, the greater of (x) a per annum rate equal to the excess, if any, of (i) 2 multiplied by the weighted average of the Adjusted Net Mortgage Rates of the Mortgage Loans over (ii) 10.700% and (y) 0.00%.

  • Lower Tier REMIC Regular Interests Each of the Lower Tier REMIC Interests other than the Class LTR Interest.

  • Subsidiary REMIC Regular Interest Any one of the "regular interests" in the Subsidiary REMIC described in the Preliminary Statement.

  • L Regular Interest The uncertificated undivided beneficial interest in REMIC II which constitutes a REMIC II Regular Interest and is entitled to distributions as set forth herein.

  • Regular Interest A “regular interest” in a REMIC within the meaning of Section 860G(a)(1) of the Code.

  • Regular Interests (i) With respect to REMIC I, the REMIC I Regular Interests and (ii) with respect to REMIC II, the REMIC II Regular Interests.

  • REMIC II Certificate Any Regular Certificate or Class R Certificate.

  • Upper-Tier Regular Interest As described in the Preliminary Statement.