Upper-Tier REMIC definition

Upper-Tier REMIC. As described in the Preliminary Statement.

Upper-Tier REMIC. One of the two separate REMICs comprising the Trust Estate, the assets of which consist of the Uncertificated Lower-Tier Interests and such amounts as shall from time to time be held in the Upper-Tier Certificate Account.

Upper-Tier REMIC. A segregated asset pool within the Trust Fund consisting of the Lower-Tier Regular Interests and amounts held from time to time in the Upper-Tier REMIC Distribution Account.

Examples of Upper-Tier REMIC in a sentence

• The Closing Date is hereby designated as the "start-up day" of each of the Upper-Tier REMIC and Lower-Tier REMIC within the meaning of Section 860G(a)(9) of the Code.

• On each Distribution Date, the amounts that have been transferred to the Lower-Tier REMIC Distribution Account from the Collection Account or as P&I Advances or Compensating Interest Payments or as otherwise contemplated by the preceding sentences of this Section 4.01(a) shall be deemed distributed on the Lower-Tier Regular Interests to the Upper-Tier REMIC, in accordance with Section 4.01(a)(ii) and the last paragraph of Section 4.01(d).

• The Upper-Tier REMIC shall hold as assets the several classes of uncertificated Lower-Tier Regular Interests, set out below.

• For as long as the Trust shall exist, the Trustee, the Depositor and the Servicer shall act in accordance herewith to assure continuing treatment of the Upper-Tier REMIC and the Lower-Tier REMIC as REMICs and avoid the imposition of tax on either REMIC.

• The Holder of the Class 1-A-R Certificate is hereby designated as the Tax Matters Person for the Upper-Tier REMIC.

More Definitions of Upper-Tier REMIC

Upper-Tier REMIC. As defined in the Preliminary Statement, the assets of which consist of the Uncertificated Lower-Tier Interests and such amounts as shall from time to time be deemed to be held in the Upper-Tier Certificate Sub-Account.

Upper-Tier REMIC. One of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Uncertificated Lower-Tier Interests and such amounts as will from time to time be held in the Upper-Tier Distribution Account.

Upper-Tier REMIC. As described in the Preliminary Statement to this Agreement.

Upper-Tier REMIC. One of the separate REMICs as described in the Preliminary Statement hereto.

Upper-Tier REMIC. The Upper-Tier REMIC as described in Section 2.04.

Upper-Tier REMIC. The REMIC established pursuant to Section 2.08 hereof with respect to the Certificates. The assets of the Upper-Tier REMIC shall include the Upper-Tier Distribution Account and the right to receive the distributions deposited therein with respect to each Lower-Tier Interest.

Upper-Tier REMIC. One of the two separate REMICs comprising the Trust, the assets of which consist of the Lower-Tier Regular Interests and such amounts as shall from time to time be held in the Upper-Tier REMIC Distribution Account.