REMIC 3. The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed in trust to the Trustee, for the benefit of the Holders of the Regular Certificates and the Class R Certificate (in respect of the Class R-3 Interest), pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
REMIC 3. As described in the Preliminary Statement.
REMIC 3. The segregated pool of assets consisting of all of the REMIC 2 Regular Interests conveyed to the Trust, for the benefit of the Holders of the Regular Certificates (other than the Class P Certificates and the Class Swap IO Upper-Tier Interest), REMIC CX, as the holder of the Class C Interest, REMIC PX, as the holder of the Class P Interest, REMIC SwapX as holder of the Class Swap IO Interest, and the Class R Certificateholders, as holders of the Class R‑3 Interest, pursuant to Article II hereunder, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.
Examples of REMIC 3 in a sentence
This can include training and capacity-building activities for staff; marketing; conducting of ecosystem assessments and analysis; M&E; safeguards monitoring and review; legal; and accounting, auditing, and FM.
The Class 90-RS Certificate is hereby designated as the sole “residual interest” in the REMIC constituted by REMIC 3 within the meaning of Section 860G(a)(2) of the Code, and each Group 2 Class is hereby designated as a “regular interest” in REMIC 3 within the meaning of Section 860G(a)(1) of the Code.
In Date 6, after the due date for seeking an extension of time to elect REMIC status for REMIC 3 had passed, Trustee discovered that it had failed to file the Form 8736 on Date 5, and the Form 8800 on Date 7.
The Master REMIC will hold as assets the several classes of uncertificated REMIC 3 Interests (other than the R-3-R Interest).
In exchange for the REMIC 3 Regular Interests and, concurrently with the assignment to the Trustee thereof, pursuant to the written request of the Depositor executed by an officer of the Depositor, the Trustee has executed, authenticated and delivered to or upon the order of the Depositor, the Regular Certificates in authorized denominations evidencing (together with the Class R-4 Interest) the entire beneficial ownership interest in REMIC 4.
More Definitions of REMIC 3
REMIC 3. As described in the Preliminary Statement to this Agreement.
REMIC 3. The Class R-3 Interest will represent the sole class of "residual interests" in REMIC 3 for purposes of the REMIC Provisions. The following table irrevocably sets forth the Class designation, Pass-Through Rate and Initial Certificate Principal Balance for each Class of Certificates that represents one or more of the "regular interests" in REMIC 3 created hereunder: Initial Certificate Assumed Final Class Designation Principal Balance Pass-Through Rate Maturity Date(1) ----------------- ----------------- ----------------- ---------------- Class A-1 $ 28,750,000.00 Variable(2) August 25, 2032 Class A-2 $ 31,750,000.00 Variable(2) August 25, 2032 Class A-3 $ 56,750,000.00 Variable(2) August 25, 2032 Class A-4 $ 22,250,000.00 Variable(2) August 25, 2032 Class A-IO $ 0.00(4) Variable(2) August 25, 2032 Class M-1 $ 4,125,000.00 Variable(2) August 25, 2032 Class M-2 $ 3,375,000.00 Variable(2) August 25, 2032 Class B $ 3,000,000.00 Variable(2) August 25, 2032 Class C $ 84.00(3) Variable(2) August 25, 2032 Class P $ 100.00 N/A(5) August 25, 2032
REMIC 3. As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the REMIC 2 Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC 3." The Class R-3 Interest represents the sole class of "residual interests" in REMIC 3 for purposes of the REMIC Provisions. The following table sets forth (or describes) the Class designation, Pass-Through Rate and Original Class Certificate Principal Balance for each Class of Certificates that represents one or more of the "regular interests" in REMIC 3 and each class of uncertificated "regular interests" in REMIC 3: Original Class Certificate Principal Pass-Through Assumed Final Class Designation Balance Rate Maturity Date(1) -------------------- ---------------------- ------------ --------------- AF $50,000,000.00 5.00000% June 2033 AV $695,730,000.00 Variable(2) June 2033 M-1 $61,600,000.00 Variable(2) June 2033 M-2 $50,490,000.00 Variable(2) June 2033 M-3 $10,190,000.00 Variable(2) June 2033 M-4 $13,430,000.00 Variable(2) June 2033 M-5 $9,730,000.00 Variable(2) June 2033 S-1 - N/A(3) June 2033 S-2 - N/A(4) June 2033 Class C Interest $35,200,850.24(5) Variable(2) June 2033 Class P Interest $100.00 N/A(6) June 2033 ------------------- 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month two months following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Class of Certificates or uncertificated interests that represents one or more of the "regular interests" in REMIC 3. 2 Calculated in accordance with the definition of "Pass-Through Rate" herein.
REMIC 3. The segregated pool of assets consisting of all of the REMIC 2 Regular Interests, with respect to which a separate REMIC election is to be made.
REMIC 3 and the "Upper Tier REMIC," respectively) in a tiered structure. The Certificates, other than the Class A-R Certificate, shall represent ownership of regular interests in the Upper Tier REMIC. For federal income tax purposes, in addition to representing ownership of a REMIC regular interest, (i) each of the Class A Certificates represents the right to receive payments in respect of interest accruals on the Class A Certificates at rates in excess of the Adjusted Net WAC, including all payments in respect of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls, (ii) each of the Class B-1, Class B-2 and Class B-3 Certificates represents the right to receive payments in respect of Basis Risk Shortfalls and Unpaid Basis Risk Shortfalls as provided in Section 5.06, (iii) the Class X-A-1 Certificates will represent the obligation to make certain payments to the Class A Certificates and the right to receive certain payments from the Class X-A-2 Certificates and (iv) the Class X-A-2 Certificates will represent the obligation to make certain payments to the Class A Certificates and the Class X-A-1 Certificates. The Class A-R Certificate represents the sole class of residual interest in each of REMIC 1, REMIC 2, REMIC 3 and the Upper Tier REMIC. The Upper Tier REMIC shall hold as its assets the several classes of uncertificated REMIC 3 Regular Interests and the uncertificated REMIC 2 IO Classes. REMIC 3 shall hold as its assets the several classes of uncertificated REMIC 2 Regular Interests other than the REMIC 2 IO Classes. REMIC 2 shall hold as its assets the several classes of uncertificated REMIC 1 Regular Interests. REMIC 1 shall hold as its assets the property of the Trust Fund other than the REMIC 1 Interests, the REMIC 2 Interests and the REMIC 3 Interests. Each Upper Tier REMIC Regular Interest is hereby designated as a regular interest in the Upper Tier REMIC for purposes of the REMIC Provisions. Each REMIC 3 Regular Interest is hereby designated as a regular interest in REMIC 3 for purposes of the REMIC provisions. Each REMIC 2 Regular Interest is hereby designated as a regular interest in REMIC 2 for purposes of the REMIC provisions. Each REMIC 1 Regular Interest is hereby designated as a regular interest in REMIC 1 for purposes of the REMIC Provisions. The Class LT1-R Interest is hereby designated as the sole class of residual interest in REMIC 1 for purposes of the REMIC Provisions. The Class LT2-R Interest is hereby designated as the sole class of re...
REMIC 3 and "REMIC 4," respectively). The Class T4-A1IO, Class T4-A2IO, Class T4-M1IO, Class T4-M2IO, Class T4-M3IO, Class T4-M4I0, Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests (such interests, the "REMIC 4 Components") and the Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3 and Class M-4 Certificates represent all of the "regular interests" in REMIC 4. The Class CE Certificates represent the REMIC 4 Components collectively. Each of the Class R-1, Class R-2, Class R-3 and Class R-4 Interests represents the sole Class of "residual interest" in REMIC 1, REMIC 2, REMIC 3 and REMIC 4, respectively, for purposes of the REMIC Provisions. There are four classes of uncertificated REMIC 1 Regular Interests (the Class T1-1, Class T1-2, Class T1-3 and Class T1-4 Interests), seven Classes of uncertificated REMIC 2 Regular Interests (the Class T2-1, Class T2-2, Class T2-3, Class T2-4, Class T2-11, Class T2-12 and Class T2-13 Interests), and eight Classes of uncertificated REMIC 3 Regular Interests (the Class T3-A1, Class T3-A2, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4, Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests). Each Class of REMIC 1 Regular Interests, REMIC 2 Regular Interests, REMIC 3 Regular Interests and REMIC 4 Regular Interests is a "REMIC Regular Interest." The REMIC 1 Regular Interests will be held as assets of REMIC 2, the REMIC 2 Regular Interests will be held as assets of REMIC 3 and the REMIC 3 Regular Interests will be held as assets of REMIC 4. The Class P Certificates represent an interest in a grantor trust created hereunder and are entitled to receive any Prepayment Premiums with respect to the Mortgage Loans. In addition, any Net WAC Rate Carryover Amounts that are paid with respect to the Class A-1, Class A-2 or Class M Certificates will be treated as first having been distributed with respect to the Class CE Certificates and then having been paid outside of the REMICs to the Class A-1, Class A-2 or Class M Certificateholders. Each of the Class A-1, Class A-2 and Class M Certificates represents an interest in a grantor trust created hereunder that holds the related regular interest in REMIC 4, the Basis Risk Rights, and, in the case of the Class A-2 Certificates, the Auction Swap Rights. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the Distribution Date occurring in April, 2033. The following table sets forth (or describes) the Class designat...
REMIC 3. The following table sets forth the designations, principal balances, and interest rates for each interest in REMIC 3, each of which (other than the R-3 Interest) is hereby designated as a regular interest in REMIC 3 (the “REMIC 3 Regular Interests”): Class Designation Initial Principal Balance Interest Rate T3-1A-IO $ 30,000,000.00 (1) T3-2A-IO $ 15,000,000.00 (1) T3-3A-IO $ 30,000,000.00 (1) T3-4A-IO $ 30,000,000.00 (1) T3-5A-IO $ 30,000,000.00 (1) T3-6A-IO $ 6,000,000.00 (1) T3-7A-IO $ 24,000,000.00 (1) T3-Pool $ 435,021,465.59 (1) T3-F (2) (2) T3-IO (3) (3) R-3 (4) (4) _______________