REMIC Trust definition

REMIC Trust means a “real estate mortgage investment conduit” within the meaning of Section 860D of the Code that holds the Note.

REMIC Trust. Xxxxxx Xxx XXXXX Trust 1998-51.

REMIC Trust means any “real estate mortgage investment conduit” within the meaning of Section 860D of the IRS Code that holds any interest in all or any portion of the Loan.

Examples of REMIC Trust in a sentence

• In the event that there shall be any matter arising under the REMIC Trust Agreement that requires the vote of holders of certificates outstanding thereunder, the Trustee as the holder of the related Underlying REMIC Certificates shall vote such Underlying REMIC Certificates in such amounts and proportions as shall reflect instructions received from Holders of Certificates of the related Class or Classes.

• In the event that there shall be any matter arising under the REMIC Trust Agreement that requires the vote of holders of certificates outstanding thereunder, the Trustee as the holder of the related Underlying REMIC Certificates shall not vote such Underlying REMIC Certificates except upon direction to do so from Holders of Certificates of the related Class or Classes.

• The Collateral Administration Agreement, which will provide the Insured with credit protection via payments of applicable Return Amounts in exchange for the applicable Transfer Amounts and Return Reimbursement Amounts with respect to the Reference Pool from the STACR REMIC Trust, will reference this hypothetical structure.

• The Capital Contribution Agreement, whereby the Insured pays the applicable Capital Contribution Amount, and the Collateral Administration Agreement will permit netting between the amounts owed to the Insured or owed to the STACR REMIC Trust.

• For the avoidance of doubt, while the Insured has the option to cause the STACR REMIC Trust to retire any Notes that the Insured may acquire, any such retirement of a Note (including any total retirement of a tranche of Notes) will not (i) impact the duration of the Policy coverage as established by the Maturity Date, or (ii) impact the Policy Limit of Liability.

More Definitions of REMIC Trust

REMIC Trust means a “real estate mortgage investment conduit” within the meaning of Section 860D of the Code that holds the Note or any interest therein.

REMIC Trust means (i) any “real estate mortgage investment conduit” within the meaning of Section 860D of the Code, or (ii) any similar trust or Person (including, without limitation, any grantor trust), in each case that holds any interest in all or any portion of the Loan.

REMIC Trust a “real estate mortgage investment conduit” within the meaning of Section 860D of the Code that holds the Note. Rents: all rents, rent equivalents, moneys payable as damages (including payments by reason of the rejection of a Lease in a Bankruptcy Proceeding) or in lieu of rent or rent equivalents, royalties (including all oil and gas or other mineral royalties and bonuses), income, fees, receivables, receipts, revenues, deposits (including security, utility and other deposits), accounts, cash, issues, profits, charges for services rendered, and other payment and consideration of whatever form or nature received by or paid to or for the account of or benefit of Borrower, Manager or any of their agents or employees from any and all sources arising from or attributable to the Property and the Improvements, including all receivables, customer obligations, installment payment obligations and other obligations now existing or hereafter arising or created out of the sale, lease, sublease, license, concession or other grant of the right of the use and occupancy of the Property or rendering of services by Borrower, Manager or any of their agents or employees and proceeds, if any, from business interruption or other loss of income insurance.

REMIC Trust. The segregated pool of assets consisting of the Trust Estate except for the Supplemental Interest Payment Account.

REMIC Trust means a REMIC which holds the Note.

REMIC Trust. The segregated pool of assets consisting of the Trust Fund; provided, however, that the Supplemental Interest Payment Account shall not be part of the REMIC Trust.

REMIC Trust means a “real estate mortgage investment conduit” (within the meaning of Section 860D, or applicable successor provisions, of the Code) that holds the Note.