Examples of REMIC PX in a sentence
REMIC PX As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Class P Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC PX.” The Class R-PX Interest shall represent the sole class of “residual interests” in REMIC PX for purposes of the REMIC Provisions (as defined herein) under federal income tax law.
The following table irrevocably sets forth the designation, the Pass-Through Rate, initial Uncertificated Principal Balance, and solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the “latest possible maturity date” for each of the REMIC PX Regular Interests.
Designation Uncertificated REMIC PX Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date1Class P N/A2 $100.00 June 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC PX Regular Interest.
Designation Uncertificated REMIC PX Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date1 Class P N/A2 $100.00 February 25, 2047 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC PX Regular Interest.
Designation Uncertificated REMIC PX Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date1 Class Swap IO N/A2 $0.00 June, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC SwapX Regular Interest.
Designation Uncertificated REMIC PX Pass-Through Rate Initial Uncertificated Principal Balance Assumed Final Maturity Date1 Class P N/A2 $100.00 June, 2046 1 Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month following the month of the maturity date for the Mortgage Loan with the latest maturity date has been designated as the “latest possible maturity date” for each REMIC PX Regular Interest.