REMIC Account definition

REMIC Account. Any account or accounts that are required to be established (in the same manner as the Certificate Account is established) and maintained pursuant to Section 12.04.
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Examples of REMIC Account in a sentence

  • The Upper-Tier REMIC is one of the two separate REMICs comprising the Trust Fund, the assets of which consist of the Class L Regular Interests and such amounts as shall from time to time be held in the Upper-Tier REMIC Account.

  • Upon a termination of the Trust in accordance with Section 9.01, the Class LR Certificate shall receive all amounts remaining in the Certificate Account [, and the Class R Certificate shall receive any amounts remaining in the Upper-Tier REMIC Account] after all required distributions on the Certificates [and the Class L Regular Interests] [and to the Insurer] have been made.

  • The corpus of the trust created by this Agreement, consisting of the Mortgage Loans, the Certificate Account, any Upper-Tier REMIC Account, any Retail Reserve Fund, any reinvestment income earned on funds in an Investment Account, REO Property and the Primary Mortgage Insurance Certificates, any other insurance policies with respect to the Mortgage Loans, and the rights of the Trustee under any Reserve Fund and any Insurance Policy.

  • On each Distribution Date, CFMSI shall direct the Trustee to withdraw from the Certificate Account and deposit in the Upper-Tier REMIC Account all distributions to be made on such Distribution Date in respect of interest on and in reduction of Principal Balances of the Class L Regular Interests.

  • Upon a termination of the Trust in accordance with Section 9.01, the Class LR Certificate shall receive all amounts remaining in the Certificate Account [and the Retail Reserve Fund,] [and the Class R Certificate shall receive any amounts remaining in the Upper-Tier REMIC Account] after all required distributions on the CitiCertificates [and the Class L Regular Interests] [and to the Insurer] have been made.

Related to REMIC Account

  • Upper-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Upper-Tier REMIC.

  • Upper-Tier REMIC Distribution Account The trust account or accounts created and maintained as a separate trust account (or separate sub-account within the same account as the Lower-Tier REMIC Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Computershare Trust Company, National Association, as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of BMO 2022-C1 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2022-C1, and the Uncertificated Interest Owners, Upper-Tier REMIC Distribution Account” and which must be an Eligible Account. The Upper-Tier REMIC Distribution Account shall be an asset of the Upper-Tier REMIC.

  • Lower-Tier REMIC Distribution Account The account or accounts created and maintained as a separate account (or separate sub-account within the same account as another Distribution Account) or accounts by the Certificate Administrator pursuant to Section 3.05(b) of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Lower-Tier REMIC Distribution Account” and which must be an Eligible Account. The Lower-Tier REMIC Distribution Account shall be an asset of the Lower-Tier REMIC.

  • Lower-Tier Distribution Account A subaccount of the Distribution Account, which shall be an asset of the Trust Fund and the Lower-Tier REMIC.

  • Distribution Accounts Collectively, the Upper-Tier REMIC Distribution Account, the Lower-Tier REMIC Distribution Account, the Excess Interest Distribution Account (and in each case any subaccount thereof), all of which may be subaccounts of a single Eligible Account.

  • REMIC: A real estate mortgage investment conduit" as defined in Code Section 860D. "The REMIC" means the REMIC constituted by the Trust Estate.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

  • REMIC IV The segregated pool of assets consisting of the Class CE Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class CE Certificates and the Class RX Certificate (in respect of the Class R-4 Interest), with respect to which a separate REMIC election is to be made.

  • Subaccount means any subaccount designated and established hereunder.

  • Sub-Account means any of the individual sub-accounts of a Participant’s Account that is maintained as provided in Article VIII.

  • Certificate Payment Account means the account established and maintained as such pursuant to Section 4.1(c).

  • Custodial Accounts Each Custodial Account (other than an Escrow Account) established and maintained by a Servicer pursuant to a Servicing Agreement with respect to the Mortgage Loans.

  • Administration Account As defined in Section 7.02.

  • Interest Collection Subaccount The meaning specified in Section 10.2(a).

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.

  • Note Distribution Account means the account designated as such, established and maintained pursuant to Section 5.1.

  • Accumulation Account The account designated as such, established and maintained pursuant to Section 5.01(a)(iii) of the Trust Sale and Servicing Agreement.

  • Certificate Account The account maintained by the Trustee in accordance with the provisions of Section 4.04.

  • Employer Contribution Account means, for any Participant, the account established by the Administrator or Trustee to which Employer Contributions made under Section 3.5 for the Participant's benefit are credited.

  • REMIC Election An election, for federal income tax purposes, to treat certain assets as a REMIC.

  • Interest Funding Account means the trust account designated as such and established pursuant to Section 5.01(a).

  • Contribution Account means an account, or accounts, into which the Accountholder and employer contributions are deposited by the TPA, and from which HSA dollars are swept into the Cash Account.

  • REMIC V The segregated pool of assets consisting of the Class P Interest conveyed in trust to the Trustee, for the benefit of the Holders of the Class P Certificates and the Class RX Certificate (in respect of the Class R-5 Interest), with respect to which a separate REMIC election is to be made.

  • Principal Distribution Account means the account by that name established and maintained pursuant to Section 4.1 of the Sale and Servicing Agreement.

  • REMIC III The segregated pool of assets consisting of all of the REMIC II Regular Interests conveyed in trust to the Trustee, for the benefit of the REMIC III Certificateholders pursuant to Section 2.07, and all amounts deposited therein, with respect to which a separate REMIC election is to be made.