REMIC III Remittance Rate definition

REMIC III Remittance Rate. With respect to each Class of Class I Notes, the Note Rate for such Class. With respect to the REMIC III Regular Interest SB-PO, 0% per annum. With respect to the REMIC III Regular Interest SB-IO the Certificate Rate therefor.

REMIC III Remittance Rate. With respect to REMIC III Regular Interest A-1A, REMIC III Regular Interest A-1B, REMIC III Regular Interest M-1, REMIC III Regular Interest M-2, REMIC III Regular Interest M-3, REMIC III Regular Interest M-4, REMIC III Regular Interest M-5, REMIC III Regular Interest M-6, REMIC III Regular Interest M-7, REMIC III Regular Interest M-8, REMIC III Regular Interest M-9, REMIC III Regular Interest M-10, REMIC III Regular Interest M-11, the Pass-Through Rate for the Corresponding Certficate. With respect to REMIC III Regular Interest A-2 the lesser of (i) One-Month LIBOR plus the Certificate Margin for the Corresponding Certificate plus 0.065% per annum and (ii) the related Net WAC Rate With respect to REMIC III Regular Interest CE, a rate per annum equal to the percentage equivalent of a fraction, the numerator of which is (x) the sum of (i) 100% of the interest on REMIC II Regular Interest II-LTP and (ii) interest on the Uncertificated Balance of each REMIC II Regular Interest listed in clause (y) at a rate equal to the related REMIC II Remittance Rate minus the Marker Rate and the denominator of which is (y) the aggregate Uncertificated Balance of REMIC II Regular Interests XX-XXXX, XX-XXXX0X, XX-XXX0X, XX-XXX0, II-LTM1, II-LTM2, II-LTM3, II-LTM4, II-LTM5, II-LTM6, II-LTM7, II-LTM8, II-LTM9, II-LTM10, II-LTM11 and II-LTZZ. REMIC III Regular Interest P will not have a REMIC III Remittance Rate. REMIC III Regular Interest SWAP-IO will not have a REMIC III Remittance Rate, but will be entitled to 100% of amounts distributable in respect of REMIC II Regular Interest II-IO.

REMIC III Remittance Rate means the per annum rate at which interest accrues in respect of any Group A-CP REMIC III Regular Interest or Group A-X REMIC III Regular Interest during any Interest Accrual Period, as set forth in or otherwise calculated in accordance with Section 2.14(f).

Examples of REMIC III Remittance Rate in a sentence

• The following table irrevocably sets forth the designation, the REMIC III Remittance Rate, the initial 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 III Regular Interests (as defined herein).

• The following table irrevocably sets forth the designation, the REMIC III 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 III Regular Interests.

• The following table irrevocably sets forth the designation, the REMIC III Remittance Rate, the initial 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 III Regular Interests (as defined herein).

• Each of the fourteen REMIC III Regular Interests will be designated as a separate "regular interest" in REMIC III for purposes of the REMIC Provisions under federal income tax law and will have a REMIC III Remittance Rate equal to the Weighted Average REMIC II Remittance Rate.

• Each of the fifteen REMIC III Regular Interests will be designated as a separate "regular interest" in REMIC III for purposes of the REMIC Provisions under federal income tax law and will have a REMIC III Remittance Rate equal to the Weighted Average REMIC II Remittance Rate.

More Definitions of REMIC III Remittance Rate

REMIC III Remittance Rate. With respect to the A-1, and A-2, REMIC III Regular Interests, the Note Rate for the Related Class of Notes. With respect to REMIC III Regular Interest A-IO, the Class A-IO Note Rate applied to the Class A-IO Notional Amount, which is equal to all of the interest on the Class LTA-IO REMIC II Regular Interest.

REMIC III Remittance Rate. With respect to the A-[1] and A-[2] REMIC III Regular Interests, the Note Rate for the Related Class of Notes. With respect to REMIC III Regular Interest A-[IO], the Class A-[IO] Note Rate applied to the Class A-[IO] Notional Amount, which is equal to all of the interest on the Class LTA-[IO] REMIC II Regular Interest.

REMIC III Remittance Rate. With respect to each REMIC III Regular Interest for any Distribution Date, the Weighted Average REMIC II Remittance Rate for such Distribution Date.

REMIC III Remittance Rate means the per annum rate at which interest accrues in respect of any Group X-2 REMIC III Regular Interest, as set forth in or otherwise calculated in accordance with SECTION 2.12(F).

REMIC III Remittance Rate. With respect to,

REMIC III Remittance Rate. With respect to each Class of Notes, the Note Rate for such Class. With respect to REMIC III Regular Interest SB-PO, 0% per annum. With respect to REMIC III Regular Interest SB-IO the Certificate Rate therefor. REMIC Provisions: Provisions of the federal income tax law relating to real estate mortgage investment conduits, which appear at Sections 860A through 860G of Subchapter M of Chapter 1 of the Code, and related provisions, and temporary and final regulations (or, to the extent not inconsistent with such temporary or final regulations, proposed regulations) and published rulings, notices and announcements promulgated thereunder, as the foregoing may be in effect from time to time. Remittance Rate: The REMIC I Remittance Rate, REMIC II Remittance Rate or REMIC III Remittance Rate, as applicable.

REMIC III Remittance Rate. With respect to each REMIC III A-IO Component, the excess of (x) REMIC II Remittance Rate for the REMIC II Regular Interest with the same designation as the REMIC III A-IO Component over (y) the lesser of (a) One-Month LIBOR plus the related Certificate Margin and (b) the related Net WAC Rate.