Class CE-1 Interest definition

Class CE-1 Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE-1 Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.
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Class CE-1 Interest. The Upper Tier REMIC Regular Interest held by the Class XX XXXXX as specified and described in the Preliminary Statement and the related footnote thereto.
Sample 1

Examples of Class CE-1 Interest in a sentence

  • All such shortfalls allocated to the Class CE-1 Interest shall be allocated to the Class CE-1 Certificates.

  • The Class A Certificates and the Mezzanine Certificates (other than the right to receive amounts from the Net WAC Rate Carryover Reserve Account or the Swap Account or the obligation to make payments to the Swap Account), the Class CE-1 Interest, the Class CE-2 Interest, the Class P Interest and the Class Swap-IO Interest shall be designated as the Regular Interests in REMIC III and the Class R-III Interest shall be designated as the Residual Interest in REMIC III.

  • The Trustee acknowledges receipt of the Class CE-1 Interest, the Class P Interest, the Class Swap-IO Interest and the Class CE-2 Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Class R-X Certificateholders, REMIC IV (as holder of the Class CE-1 Interest), REMIC V (as holder of the Class P Interest), REMIC VI (as holder of the Class Swap-IO Interest) and REMIC VII (as holder of the Class CE-2 Interest).

  • The Floating Rate Certificates, the Class CE-1 Interest and the Class P Interest shall be designated as the Regular Interests in REMIC II and the Class R-II Interest shall be designated as the Residual Interest in REMIC II.

  • The interests evidenced by the Certificates (other than the Class CE-1 Certificates, the Class CE-2 Certificates, the Class P Certificates and the Class R-X Certificates), the Class CE-1 Interest, the Class CE-2 Interest and the Class P Interest constitute the entire beneficial ownership interest in REMIC II.

  • Class CE-1 Interest, the Class CE-2 Interest, the Class P Interest and the Class Swap-IO Interest; Acceptance of REMIC IV, REMIC V, REMIC VI and REMIC VII by the Trustee.

  • The Floating Rate Certificates (exclusive of any right to receive distributions from or obligation to make payments to the Net WAC Rate Carryover Reserve Account in respect of the Net WAC Rate Carryover Amount, the Cap Account or the Swap Account), the Class CE-1 Interest, the Class CE-2 Interest and the Class P Interest shall be designated as the Regular Interests in REMIC III and the Class R-III Interest shall be designated as the Residual Interest in REMIC III.

  • The REMIC A Class CE-1 Interest shall have a principal balance equal to the REMIC 3 Class CE-1 Interest and shall bear interest at the same rate as the REMIC 3 Class CE-1 Interest.

  • As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 3 Class CE-1 Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC A.” The REMIC A Class CE-1 Interest represents the sole class of regular interests and the Class R-A Interest represents the sole class of “residual interests” in REMIC A for purposes of the REMIC Provisions.

  • The Class AF Certificates, the Group I Mezzanine Certificates, the Class CE-1 Interest and the Class P-1 Interest shall be designated as the Regular Interests in REMIC I-B and the Class R-IB Interest shall be designated as the Residual Interest in REMIC I-B.

Related to Class CE-1 Interest

  • Class CE Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class CE Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Class IO Interest An uncertificated interest in the Trust Fund held by the Trustee, evidencing a REMIC Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-III Interest The uncertificated Residual Interest in REMIC III.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Class R-5 Interest The uncertificated Residual Interest in REMIC 5.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Class B Interest Each of the Class B-1 and Class B-2 Interests.

  • Class C Monthly Interest is defined in Section 4.1(c).

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class A-4 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-4 Rate and (B) the outstanding principal balance of the Class A-4 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-4 Notes on or before such preceding Distribution Date).

  • Class B Monthly Interest shall have the meaning specified in subsection 4.02(b).

  • Class A-1 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, the product of (A) the actual number of days elapsed during the period from and including the preceding Distribution Date to but excluding such Distribution Date divided by 360, (B) the Class A-1 Rate and (C) the outstanding principal balance of the Class A-1 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-1 Notes on or before such preceding Distribution Date).

  • Class R-2 Interest The uncertificated Residual Interest in REMIC 2.

  • Class P designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class A-3 Monthly Interest means (i) for the initial Distribution Date, $[ ], and (ii) for any Distribution Date thereafter, one-twelfth of the product of (A) the Class A-3 Rate and (B) the outstanding principal balance of the Class A-3 Notes as of the preceding Distribution Date (after giving effect to all payments of principal made to the Holders of the Class A-3 Notes on or before such preceding Distribution Date).

  • L/C Interest shall have the meaning ascribed to such term in Section 3.6 hereof.