Examples of Startup Day in a sentence
The Depositor, by delivering any Assets pursuant to this Agreement for inclusion in the related Trust Fund, unconditionally, absolutely and irrevocably hereby transfers, assigns, sets over and otherwise conveys to the Trustee, on behalf of the related Holders, all of the Depositor’s right, title and interest in and to such Assets, including all payments of principal and interest thereon received after the month in which the Startup Day occurs.
On the related Startup Day and upon payment to the Depositor for any REMIC Certificate or MACR Certificate by a Holder, such Holder shall, by virtue thereof, acknowledge, accept and agree to be bound by all of the terms and conditions of this Agreement.
The Closing Date is hereby designated as the "start-up day" of each REMIC within the meaning of Section 860G(a)(9) of the Code (the " Startup Day").
The "latest possible maturity date" for each REMIC for purposes of Treasury Regulation section 1.860G-1(a)(4) will be the Payment Date in the month that is three months after the month in which the latest maturing Reference Obligation, determined as of the Startup Day, matures.
Each Lower Tier I-REMIC Mirror Interest will have an initial principal balance equal to the principal balance of the Mortgage Loan to which it corresponds determined as of the Startup Day of the Lower Tier I-REMIC.