Subsidiary REMIC. As described in the Preliminary Statement.
Subsidiary REMIC. The pool of assets consisting of the Trust Fund.
Subsidiary REMIC. As described in Section 2.07.
Examples of Subsidiary REMIC in a sentence
Trustee had obtained the final version of the Trust Agreement, which reflected the creation of Subsidiary REMIC, before it filed Form 1066 for Master REMIC for .
The Trust Agreement states the intention of Fund to make two REMIC elections, creating one Master REMIC and one Subsidiary REMIC.
Trustee filed Form 1066 for Master REMIC for , but no Form 1066 was filed for Subsidiary REMIC for .
During an internal audit in late , Trustee discovered that no returns had been filed for Subsidiary REMIC for and .
That version did not provide for a second REMIC, the Subsidiary REMIC.
More Definitions of Subsidiary REMIC
Subsidiary REMIC means one of the two separate REMICs comprising the corpus of the Trust created by this Agreement, the assets of which shall consist of (a) all the rights, benefits, and obligations arising from and in connection with each Contract and any related Mortgage, (b) all rights under any Hazard Insurance Policy relating to a Manufactured Home securing a Contract for the benefit of the creditor of such Contract and proceeds from the Errors and Omissions Protection Policy and any blanket hazard policy to the extent such proceeds relate to any Manufactured Home, (c) all rights under any FHA/VA Regulation pertaining to any FHA/VA Contract, (d) all remittances, deposits and payments made into the Certificate Account and amounts in the Certificate Account (other than payments on the Subsidiary Interests and any Guarantee Payments), (e) all proceeds in any way derived from any of the foregoing items, and (f) all documents contained in the Contract Files or the Land-and-Home Contract Files.
Subsidiary REMIC. Not applicable.
Subsidiary REMIC. The segregated group of assets consisting of all of the assets of the Trust Estate other than the Supplemental Interest Reserve Fund and the REMIC interests issued by The Subsidiary REMIC and the Master REMIC as defined in Section 2.08 hereof, and constituting a REMIC created hereunder.
Subsidiary REMIC. With respect to each Subsidiary REMIC Interest, the applicable rate set forth or calculated in the manner described in the Preliminary Statement.
Subsidiary REMIC means the segregated pool of assets comprising the Trust Fund, but excluding the Pre-Funding Account, the Capitalized Interest Account and the Subsidiary REMIC Regular Interests.
Subsidiary REMIC means the segregated pool of assets described as follows, which a separate REMIC election is to be made:
Subsidiary REMIC means the segregated pool of assets comprising the Trust Fund, but excluding the Sub-Pool HE Pre-Funding Account, the Sub-Pool HI Pre-Funding Account, and the Subsidiary REMIC Regular Interests.