The Master REMIC Sample Clauses

The Master REMIC. The Class AV-1, Class AV-2, Class AV-3, Class AV-4, Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10, Class M-11 and Class X-IO Certificates are hereby designated as “regular interests” with respect to the Master REMIC (the “Master REMIC Regular Certificates”) and the R-III Interest is hereby designated as the single “residual interest” with respect to the Master REMIC. The beneficial ownership interest in the Master REMIC created hereunder shall be evidenced by the interests having the following characteristics and terms: Class Designation Initial Certificate Principal Balance Certificate Interest Rate Final Scheduled Distribution Date Class AV-1 $340,000,000 (1) September 2036 Class AV-2 $198,500,000 (2) September 2036 Class AV-3 $95,600,000 (3) September 2036 Class AV-4 $149,274,000 (4) September 2036 Class M-1 $33,016,000 (5) September 2036 Class M-2 $44,521,000 (6) September 2036 Class M-3 $18,009,000 (7) September 2036 Class M-4 $16,508,000 (8) September 2036 Class M-5 $16,008,000 (9) September 2036 Class M-6 $12,506,000 (10) September 2036 Class M-7 $12,006,000 (11) September 2036 Class M-8 $9,505,000 (12) September 2036 Class M-9 $12,506,000 (13) September 2036 Class M-10 $11,506,000 (14) September 2036 Class M-11 $10,005,000 (15) September 2036 Class X-IO (16) (17) September 2036 Class P (18) (18) June 2011 Class R (19) (19) September 2036
Sample 1See All (11)
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The Master REMIC. The Master REMIC Interests, each of which (except for the Class R2 Interests) is hereby designated as a REMIC regular interest for federal income tax purposes, will have the principal balances and Pass-Through Rates as set forth in the following table: Master REMIC Interest Initial Principal Balance Pass-Through Rate (per annum) Class MR-A-1-1 $60,061,667.00 (1) Class MR-A-1-2 $30,030, 833.00 (1) Class MR-A-1-3 $82,092,500.00 (1) Class MR-A-1-4 $8,000,000.00 (1) Class MR-A-1-5 $60,061,667.00(2) (1) Class MR-A-1-6 $30,030, 933.00(2) (1) Class MR-A-1-7 $82,092,500.00(2) (1) Class MR-A-1-8 $8,000,000.00(2) (1) Class MR-A-1-9 $60,061,667.00(2) (1) Class MR-A-1-10 $30,030, 933.00(2) (1) Class MR-A-1-11 $82,092,500.00(2) (1) Class MR-A-1-12 $8,000,000.00(2) (1) Class MR-A-1-W $8,000,000.00 (2) Class MR-A-2-1 $51,159,000.00 (3) Class MR-A-2-2 $51,159,000.00 (3) Class MR-A-2-3 $51,159,000.00 (3) Class MR-A-3-W $52,151,000.00 (4) Class MR-A-4-1 $230,006,000.00 (5) Class MR-A-4-2 $230,006,000.00 (5) Class MR-A-4-3 $230,006,000.00 (5) Class MR-A-4-4 $230,006,000.00 (5) Class MR-A-4-5 $230,006,000.00 (5) Class MR-A-4-6 $230,006,000.00 (5) Class MR-M-1 $8,640,000.00 (6) Class MR-M-2 $4,460,000.00 (7) Class MR-M-3 $3,623,000.00 (8) Class MR-M-4 $2,230,000.00 (9) Class MR-M-5 $1,951,000.00 (10) Class MR-M-6 $1,951,000.00 (11) Class MR-B-1 $1,951,000.00 (12) Class MR-B-2 $1,952,000.00 (13) Class MR-B-3 $2,787,000.00 (14) Class MR-P $1,000.00 (15) Class MR-L-IO (16) (16) Class MR-OC (17) (17) Class A-R $100.00(18) 6.69690% __________________________________________
Sample 1Sample 2See All (5)
The Master REMIC. The following table sets forth characteristics of the Master REMIC Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount and, in addition, one Residual Certificate representing the Tax Matters Person Certificate may be issued in a different amount):
Sample 1
The Master REMIC. The Master REMIC Interests will have the initial class principal balances and pass-through rates as set forth in the following table: ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- Initial Class Pass-Through Rate Minimum Denomination Integral Multiples Class Designation Principal Balance (per annum) in Excess of Minimum ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- A-1 $ 391,786,000 (1) $25,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- A-2 $ 163,244,000 (1) $25,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- A-3 $ 97,947,000 (1) $25,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-1 $ 16,343,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-2 $ 13,800,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-3 $ 4,722,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-4 $ 10,531,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-5 $ 4,359,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-6 $ 3,631,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-7 $ 3,632,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-8 $ 3,632,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-9 $ 3,631,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ---------------------- ---------------------- M-10 $ 4,721,000 (1) $100,000 $1,000 ------------------------- ---------------------- ----------------------- ------------...
Sample 1
The Master REMIC. The following table sets forth characteristics of the Certificates, together with the minimum denominations and integral multiples in excess thereof in which such Classes shall be issuable (except that one Certificate of each Class of Certificates may be issued in a different amount): Class Designation Initial Class Certificate Balance or Notional Amount Pass-Through Rate Minimum Denomination Integral Multiples in Excess of Minimum Class A-1 $ 158,770,000 6.25 % $ 1,000 $ 1 Class A-2 $ 11,601,900 6.25 % $ 25,000 $ 1 Class PO $ 733,508 N/A (3) $ 100,000 $ 1 Class A-X $ 18,464,687 (1) 6.50 % $ 100,000 (2) $ 1 (2) Class A-R $ 100 6.25 % $ 100 N/A Class B-1 $ 7,491,000 6.25 % $ 100,000 $ 1 Class B-2 $ 1,370,000 6.25 % $ 100,000 $ 1 Class B-3 $ 913,000 6.25 % $ 100,000 $ 1 Class B-4 $ 731,000 6.25 % $ 100,000 $ 1 Class B-5 $ 640,000 6.25 % $ 100,000 $ 1 Class B-6 $ 457,064.47 6.25 % $ 100,000 $ 1 Class P $ 100 N/A (4) $ 100 N/A Class L N/A N/A (5) (5 ) (5 ) (1) This Class of Certificates will be Notional Amount Certificates, will have no Class Certificate Balance and will bear interest on its Notional Amount.
Sample 1

Related to The Master REMIC

  • TIER REMIC The Lower-Tier REMIC will hold the Mortgage Loans and will issue the Class LA1, Class LA2, Class LA3, Class LA4, Class LAAB, Class LABP, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG and Class LH Uncertificated Interests (the “Lower-Tier Regular Interests”), which will evidence the “regular interests” in the Lower-Tier REMIC created hereunder. The Lower-Tier REMIC will also issue the uncertificated Class LR Interest, which is the sole Class of “residual interests” in the Lower-Tier REMIC and is represented by the Class R Certificates. The following table sets forth the Original Lower-Tier Principal Amounts and per annum rates of interest for the Lower-Tier Regular Interests and the Class LR Interest: Designation Interest Rate or Pass- Through Rate Original Lower-Tier Principal Amount Class LA1 (1) $ 14,278,000 Class LA2 (1) $ 72,424,000 Class LA3 (1) $ 270,000,000 Class LA4 (1) $ 311,927,000 Class LAAB (1) $ 35,645,000 Class LABP (1) $ 10,000,000 Class LAS (1) $ 70,152,000 Class LB (1) $ 44,642,000 Class LC (1) $ 56,122,000 Class LD (1) $ 28,979,000 Class LE (1) $ 27,142,000 Class LF (1) $ 26,786,000 Class LG (1) $ 10,204,000 Class LH (1) $ 42,091,386 Class LR N/A(2) N/A

  • The Master Servicer The Master Servicer shall service and administer the Mortgage Loans in a manner consistent with the terms of this Agreement and with general industry practice and shall have full power and authority, acting alone or through a subservicer, (i) to execute and deliver, on behalf of the Noteholders, the Trust, and the Indenture Trustee, customary consents or waivers and other instruments and documents, (ii) to consent to transfers of any Mortgaged Property and assumptions of the Mortgage Notes and related Mortgages (but only in the manner provided in this Agreement), (iii) to collect any Insurance Proceeds and other Liquidation Proceeds, and (iv) to effectuate foreclosure or other conversion of the ownership of the Mortgaged Property securing any Mortgage Loan. The Master Servicer shall remain responsible to the parties to this Agreement and the Credit Enhancer for its obligations under this Agreement. Any amounts received by any subservicer on a Mortgage Loan shall be considered to have been received by the Master Servicer whether or not actually received by it. Without limiting the generality of the foregoing, the Master Servicer may execute and deliver, on behalf of itself, the Noteholders, and the Indenture Trustee, or any of them, any instruments of satisfaction or cancellation, or of partial or full release or discharge, and all other comparable instruments, with respect to the Mortgage Loans and with respect to the Mortgaged Properties, in each case to the extent not inconsistent with this Agreement. At the request of a Servicing Officer, the Indenture Trustee shall furnish the Master Servicer with any powers of attorney and other documents appropriate to enable the Master Servicer to carry out its servicing and administrative duties under this Agreement. The Master Servicer in this capacity may also consent to the placing of a lien senior to that of any mortgage on the related Mortgaged Property, if

  • Compensation for the Master Servicer The Master Servicer will be entitled to all income and gain realized from any investment of funds in the Distribution Account and the Master Servicer Collection Account, pursuant to Article IV, for the performance of its activities hereunder. Servicing compensation in the form of assumption fees, if any, late payment charges, as collected, if any, or otherwise (but not including any prepayment premium or penalty) shall be retained by the applicable Servicer and shall not be deposited in the Protected Account. The Master Servicer shall be required to pay all expenses incurred by it in connection with its activities hereunder and shall not be entitled to reimbursement therefor except as provided in this Agreement.

  • UPPER-TIER REMIC REMIC 4.

  • Compensation of the Master Servicer As compensation for its activities under this Agreement, the Master Servicer shall be paid the Master Servicing Fee.

  • REMIC The Mortgage Loan is a “qualified mortgage” within the meaning of Section 860G(a)(3) of the Code (but determined without regard to the rule in the U.S. Department of Treasury regulations (the “Treasury Regulations”) Section 1.860G-2(f)(2) that treats certain defective mortgage loans as qualified mortgages), and, accordingly, (A) the issue price of the Mortgage Loan to the related Mortgagor at origination did not exceed the non-contingent principal amount of the Mortgage Loan and (B) either: (a) such Mortgage Loan is secured by an interest in real property (including permanently affixed buildings and distinct structural components, such as wiring, plumbing systems and central heating and air-conditioning systems, that are integrated into such buildings, serve such buildings in their passive functions and do not produce or contribute to the production of income other than consideration for the use or occupancy of space, but excluding personal property) having a fair market value (i) at the date the Mortgage Loan (or related Whole Loan) was originated at least equal to 80% of the adjusted issue price of the Mortgage Loan (or related Whole Loan) on such date or (ii) at the Closing Date at least equal to 80% of the adjusted issue price of the Mortgage Loan (or related Whole Loan) on such date, provided that for purposes hereof, the fair market value of the real property interest must first be reduced by (A) the amount of any lien on the real property interest that is senior to the Mortgage Loan and (B) a proportionate amount of any lien that is in parity with the Mortgage Loan; or (b) substantially all of the proceeds of such Mortgage Loan were used to acquire, improve or protect the real property which served as the only security for such Mortgage Loan (other than a recourse feature or other third-party credit enhancement within the meaning of Section 1.860G-2(a)(1)(ii) of the Treasury Regulations). If the Mortgage Loan was “significantly modified” prior to the Closing Date so as to result in a taxable exchange under Section 1001 of the Code, it either (x) was modified as a result of the default or reasonably foreseeable default of such Mortgage Loan or (y) satisfies the provisions of either sub-clause (B)(a)(i) above (substituting the date of the last such modification for the date the Mortgage Loan was originated) or sub-clause (B)(a)(ii), including the proviso thereto. Any prepayment premium and yield maintenance charges applicable to the Mortgage Loan constitute “customary prepayment penalties” within the meaning of Section 1.860G-1(b)(2) of the Treasury Regulations. All terms used in this paragraph shall have the same meanings as set forth in the related Treasury Regulations.

  • Compensation to the Master Servicer The Master Servicer shall be entitled to receive a monthly fee equal to the Master Servicing Fee, as compensation for services rendered by the Master Servicer under this Agreement. The Master Servicer also will be entitled to any late reporting fees paid by a Servicer pursuant to its Servicing Agreement, any investment income on funds on deposit in the Certificate Account and any Liquidation Profits to which a Servicer is not entitled under its Servicing Agreement.

  • Central Certificate System Subject to such rules, regulations and orders as the Commission may adopt, the Trustees may direct the custodian to deposit all or any part of the securities owned by the Trust in a system for the central handling of securities established by a national securities exchange or a national securities association registered with the Commission under the Securities Exchange Act of 1934, or such other Person as may be permitted by the Commission, or otherwise in accordance with the 1940 Act, pursuant to which system all securities of any particular class of any issuer deposited within the system are treated as fungible and may be transferred or pledged by bookkeeping entry without physical delivery of such securities, provided that all such deposits shall be subject to withdrawal only upon the order of the Trust.

  • REMIC II As provided herein, the Securities Administrator will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC II.” The Class R-II Interest will evidence the sole class of “residual interests” in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the REMIC II Remittance Rate, the initial aggregate Uncertificated Balance and, for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC II Regular Interests. None of the REMIC II Regular Interests will be certificated. Designation REMIC II Remittance Rate Initial Uncertificated Balance Latest Possible Maturity Date (1) AA Variable(2 ) $ 344,206,466.32 October 25, 2036 A-1 Variable(2 ) $ 1,120,645.00 October 25, 2036 A-2A Variable(2 ) $ 813,340.00 October 25, 2036 A-2B Variable(2 ) $ 323,045.00 October 25, 2036 A-2C Variable(2 ) $ 232,410.00 October 25, 2036 A-2D Variable(2 ) $ 204,505.00 October 25, 2036 M-1 Variable(2 ) $ 138,735.00 October 25, 2036 M-2 Variable(2 ) $ 129,955.00 October 25, 2036 M-3 Variable(2 ) $ 75,515.00 October 25, 2036 M-4 Variable(2 ) $ 64,980.00 October 25, 2036 M-5 Variable(2 ) $ 64,980.00 October 25, 2036 M-6 Variable(2 ) $ 57,955.00 October 25, 2036 M-7 Variable(2 ) $ 57,955.00 October 25, 2036 M-8 Variable(2 ) $ 49,170.00 October 25, 2036 M-9 Variable(2 ) $ 40,390.00 October 25, 2036 M-10 Variable(2 ) $ 24,585.00 October 25, 2036 M-11 Variable(2 ) $ 35,125.00 October 25, 2036 ZZ Variable(2 ) $ 3,591,331.76 October 25, 2036 P Variable(2 ) $ 100.00 October 25, 2036 IO Variable(2 ) (3 ) October 25, 2036 I-SUB Variable(2 ) $ 6,808.58 October 25, 2036 I-GRP Variable(2 ) $ 28,082.89 October 25, 2036 II-SUB Variable(2 ) $ 9,558.74 October 25, 2036 II-GRP Variable(2 ) $ 39,975.80 October 25, 2036 XX Variable(2 ) $ 351,146,662.08 October 25, 2036

  • REMIC Election for REMIC II The Tax Matters Person shall, on behalf of REMIC II, elect to treat REMIC II as a REMIC within the meaning of Section 860D of the Code and, if necessary, under applicable state laws. Such election shall be included in the Form 1066 and any appropriate state return to be filed on behalf of REMIC II for its first taxable year. The Closing Date is hereby designated as the “startup day” of REMIC II within the meaning of Section 860G(a)(9) of the Code. The regular interests (as set forth in the table contained in the Preliminary Statement hereto) relating to REMIC II are hereby designated as “regular interests” in REMIC II for purposes of Section 860G(a)(1) of the Code. The Class R-2 Residual Interest is hereby designated as the sole class of “residual interest” in REMIC II for purposes of Section 860G(a)(2) of the Code. The REMIC II Regular Interests and the Class R-2 Residual Interest shall together be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute. The parties intend that the affairs of REMIC II shall constitute, and that the affairs of REMIC II shall be conducted so as to qualify it as, a REMIC. In furtherance of such intention, the Tax Matters Person shall, on behalf of REMIC II: (a) prepare and file, or cause to be prepared and filed, a federal tax return using a calendar year as the taxable year for REMIC II when and as required by the REMIC provisions and other applicable federal income tax laws; (b) make an election, on behalf of REMIC II, to be treated as a REMIC on the federal tax return of REMIC II for its first taxable year, in accordance with the REMIC provisions; (c) prepare and forward, or cause to be prepared and forwarded, to the Certificateholders and the Holders of the Class R-2 Residual Interest all information reports as and when required to be provided to them in accordance with the REMIC provisions; (d) conduct the affairs of REMIC II at all times that any of the Certificates are outstanding so as to maintain the status of REMIC II as a REMIC under the REMIC provisions; (e) not knowingly or intentionally take any action or omit to take any action that would cause the termination of the REMIC status of REMIC II; and (f) pay the amount of any federal prohibited transaction penalty taxes imposed on REMIC II when and as the same shall be due and payable (but such obligation shall not prevent the Company or any other appropriate person from contesting any such tax in appropriate proceedings and shall not prevent the Company from withholding payment of such tax, if permitted by law, pending the outcome of such proceedings); provided, that the Company shall be entitled to be indemnified from REMIC II for any such prohibited transaction penalty taxes if the Company’s failure to exercise reasonable care was not the primary cause of the imposition of such prohibited transaction penalty taxes.

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