Initial Latest Possible Designation Remittance Rate Uncertificated Balance Clause Samples
This clause establishes the parameters and procedures for the remittance of funds or assets, specifying the earliest and latest dates on which remittances can be made, the designation of the remittance, the applicable remittance rate, and the handling of uncertificated balances. In practice, it sets clear deadlines for when payments or transfers must occur, identifies the purpose or recipient of the remittance, determines the rate at which remittances are calculated, and addresses how balances not represented by certificates are managed. The core function of this clause is to ensure clarity and predictability in the timing, calculation, and administration of remittances, thereby reducing the risk of disputes and administrative errors.
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date (1) ----------- --------------- ---------------------- ----------------- II-LTAA Variable(2) II-LTA Variable(2) II-LTM 1 Variable(2) II-LTM 2 Variable(2) II-LTM 3 Variable(2) II-LTM 4 Variable(2) II-LTZZ Variable(2) II-LTIO Variable(2) II-LTP Variable(2) ___________________________
(1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC II Regular Interest.
(2) Calculated in accordance with the definition of "REMIC II Remittance Rate" herein.
(3) REMIC II Regular Interest II-LTIO will not have an Initial Uncertificated Balance, but will accrue interest on its respective Uncertificated Notional Amount outstanding from time to time, as defined herein. REMIC III --------- As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the REMIC II Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC III." The Class R-III Certificates will evidence the sole class of "residual interests" in REMIC III for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Pass-Through Rate, the initial aggregate Certificate Principal Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for the indicated Classes of Certificates. Initial Aggregate Pass-Through Certificate Principal Latest Possible Designation Rate Balance Maturity Date (1) ----------- ---- ------- ----------------- Class A Variable(2) Class A-IO Variable(2) Class M-1 Variable(2) Class M-2 Variable(2) Class M-3 Variable(2) Class M-4 Variable(2) Class P N/A(5) Class CE N/A(6) _________________
(1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each Class of Certificates.
(2) Calculated in accordance with the definition of "Pass-Through Rate" herein.
(3) The Class A-IO Certificates do not have a Certificate Principal Balance but will receive all amounts distributed to REMIC II Regular Interest II-LTIO.
(4) The Class P Certificates will not accrue interest.
(5...
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------------------- ----------------------- ------------------------ ----------------------- II-LTAA Variable(2) $ 647,027,507.98 December 25, 2035 II-LTA1 Variable(2) $ 2,911,090.00 December 25, 2035 II-LTA2 Variable(2) $ 773,910.00 December 25, 2035 II-LTA3 Variable(2) $ 995,330.00 December 25, 2035 II-LTA4 Variable(2) $ 370,440.00 December 25, 2035 II-LTM1 Variable(2) $ 254,180.00 December 25, 2035 II-LTM2 Variable(2) $ 231,080.00 December 25, 2035 II-LTM3 Variable(2) $ 145,250.00 December 25, 2035 II-LTM4 Variable(2) $ 122,140.00 December 25, 2035 II-LTM5 Variable(2) $ 115,540.00 December 25, 2035 II-LTM6 Variable(2) $ 105,630.00 December 25, 2035 II-LTM7 Variable(2) $ 99,030.00 December 25, 2035 II-LTM8 Variable(2) $ 89,130.00 December 25, 2035 II-LTM9 Variable(2) $ 72,620.00 December 25, 2035 II-LTM10 Variable(2) $ 69,320.00 December 25, 2035 II-LTM11 Variable(2) $ 66,020.00 December 25, 2035 II-LTZZ Variable(2) $ 6,783,933.02 December 25, 2035 II-LTP Variable(2) $ 100.00 December 25, 2035 II-LTIO-1 Variable(2) N/A(3) December 25, 2035 II-LTIO-2 Variable(2) N/A(4) December 25, 2035 ----------------
(1) For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC II Regular Interest.
(2) Calculated in accordance with the definition of "REMIC II Remittance Rate" herein.
(3) REMIC II Regular Interest II-LTIO-1 will not have an Uncertificated Balance, but will accrue interest on its Uncertificated Notional Amount.
(4) REMIC II Regular Interest II-LTIO-2 will not have an Uncertificated Balance, but will accrue interest on its Uncertificated Notional Amount.
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------- -------------- ---------------------- --------------- I-LT1 Variable(2) $676,249,848.46 July 25, 2033 I-LTPF Variable(2) $223,750,051.54 July 25, 2033 I-LTP ▇▇▇▇▇▇▇▇(▇) $100.00 July 25, 2033
(1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC I Regular Interest.
(2) Calculated in accordance with the definition of "REMIC I Remittance Rate" herein.
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------- --------------- ---------------------- ---------------- I-1-A Variable(2) $2,960,342.44 April 25, 2035 I-1-B Variable(2) $2,960,344.43 April 25, 2035 I-2-A Variable(2) $3,754,823.47 April 25, 2035 I-2-B Variable(2) $3,754,823.47 April 25, 2035 I-3-A Variable(2) $4,546,409.86 April 25, 2035 I-3-B Variable(2) $4,546,409.86 April 25, 2035 I-4-A Variable(2) $5,329,043.03 April 25, 2035 I-4-B Variable(2) $5,329,043.03 April 25, 2035 I-5-A Variable(2) $6,096,436.70 April 25, 2035 I-5-B Variable(2) $6,096,436.70 April 25, 2035 I-6-A Variable(2) $6,842,165.84 April 25, 2035 I-6-B Variable(2) $6,842,165.84 April 25, 2035 I-7-A Variable(2) $7,558,848.98 April 25, 2035 I-7-B Variable(2) $7,558,848.98 April 25, 2035 I-8-A Variable(2) $8,240,422.59 April 25, 2035 I-8-B Variable(2) $8,240,422.59 April 25, 2035 I-9-A Variable(2) $8,778,555.53 April 25, 2035 I-9-B Variable(2) $8,778,555.53 April 25, 2035 I-10-A Variable(2) $9,199,936.16 April 25, 2035 I-10-B Variable(2) $9,199,936.16 April 25, 2035 I-11-A Variable(2) $9,418,924.25 April 25, 2035 I-11-B Variable(2) $9,418,924.25 April 25, 2035 I-12-A Variable(2) $9,033,750.57 April 25, 2035 I-12-B Variable(2) $9,033,750.57 April 25, 2035 I-13-A Variable(2) $8,663,642.85 April 25, 2035 I-13-B Variable(2) $8,663,642.85 April 25, 2035 I-14-A Variable(2) $8,308,851.23 April 25, 2035 I-14-B Variable(2) $8,308,851.23 April 25, 2035 I-15-A Variable(2) $7,968,738.94 April 25, 2035 I-15-B Variable(2) $7,968,738.94 April 25, 2035 I-16-A Variable(2) $7,642,692.50 April 25, 2035 I-16-B Variable(2) $7,642,692.50 April 25, 2035 I-17-A Variable(2) $7,330,126.60 April 25, 2035 I-17-B Variable(2) $7,330,126.60 April 25, 2035 I-18-A Variable(2) $7,030,478.08 April 25, 2035 I-18-B Variable(2) $7,030,478.08 April 25, 2035 I-19-A Variable(2) $6,765,227.60 April 25, 2035 I-19-B Variable(2) $6,765,227.60 April 25, 2035 I-20-A Variable(2) $6,630,950.68 April 25, 2035 I-20-B Variable(2) $6,630,950.68 April 25, 2035 I-21-A Variable(2) $6,273,207.21 April 25, 2035 I-21-B Variable(2) $6,273,207.21 April 25, 2035 I-22-A Variable(2) $28,747,375.29 April 25, 2035 I-22-B Variable(2) $28,747,375.29 April 25, 2035 I-23-A Variable(2) $79,093,796.60 April 25, 2035 I-23-B Variable(2) $79,093,796.60 April 25, 2035 I-24-A Variable(2) $2,117,264.97 April 25, 2035 I-24-B Variable(2) $2,117,264.97 April 25, 2035 I-25-A Variable(2) $1,907,663.74 April 25, 2035 I-25-B Variable(2) $1,907,663.74 April 25, 2035 I-26-A Variable(2) $1,738,468...
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------- --------------- ---------------------- ---------------- II-LTAA Variable(2) $ 980,000,136.93 February 25, 2035 II-LTA1A Variable(2) $ 2,500,320.00 February 25, 2035 II-LTA1B Variable(2) $ 625,080.00 February 25, 2035 II-LTA2A Variable(2) $ 1,700,930.00 February 25, 2035 II-LTA2B Variable(2) $ 425,230.00 February 25, 2035 II-LTA3A Variable(2) $ 1,022,860.00 February 25, 2035 II-LTA3B Variable(2) $ 1,119,315.00 February 25, 2035 II-LTA3C Variable(2) $ 223,420.00 February 25, 2035 II-LTA3D Variable(2) $ 262,845.00 February 25, 2035 II-LTM1 Variable(2) $ 150,000.00 February 25, 2035 II-LTM2 Variable(2) $ 470,000.00 February 25, 2035 II-LTM3 Variable(2) $ 160,000.00 February 25, 2035 II-LTM4 Variable(2) $ 210,000.00 February 25, 2035 II-LTM5 Variable(2) $ 170,000.00 February 25, 2035 II-LTM6 Variable(2) $ 110,000.00 February 25, 2035 II-LTM7 Variable(2) $ 155,000.00 February 25, 2035 II-LTM8 Variable(2) $ 80,000.00 February 25, 2035 II-LTM9 Variable(2) $ 125,000.00 February 25, 2035 II-LTM10 Variable(2) $ 135,000.00 February 25, 2035 II-LTM11 Variable(2) $ 115,000.00 February 25, 2035 II-LTZZ Variable(2) $ 10,240,002.79 February 25, 2035 II-LTP Variable(2) $ 100.00 February 25, 2035 II-1SUB Variable(2) $ 16,817.00 February 25, 2035 II-1GRP Variable(2) $ 79,325.01 February 25, 2035 II-2SUB Variable(2) $ 11,440.39 February 25, 2035 II-2GRP Variable(2) $ 53,963.59 February 25, 2035 II-3SUB Variable(2) $ 14,142.64 February 25, 2035 II-3GRP Variable(2) $ 66,711.44 February 25, 2035 II-XX Variable(2) $ 999,757,739.65 February 25, 2035 II-LT1SWAP Variable(2) (3) February 25, 2035 II-LT2SWAP Variable(2) (3) February 25, 2035 II-LT3SWAP Variable(2) (3) February 25, 2035
(1) For purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC II Regular Interest.
(2) Calculated in accordance with the definition of "REMIC II Remittance Rate" herein.
(3) REMIC II Regular Interest II-LT1SWAP, REMIC II Regular Interest II-LT2SWAP and REMIC II Regular Interest II-LT3SWAP will not have Uncertificated Balances, but will accrue interest on their respective Uncertificated Notional Amounts. REMIC III ---------
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date (1) ----------- --------------- ---------------------- ----------------- I-LTAA Variable(2) $ 486,830,338.57 September 25, 2033 I-LTA1 Variable(2) $ 2,858,215.00 September 25, 2033 I-LTA2A Variable(2) $ 188,020.00 September 25, 2033 I-LTA2B Variable(2) $ 465,000.00 September 25, 2033 I-LTA2C Variable(2) $ 95,635.00 September 25, 2033 I-LTA3 Variable(2) $ 317,580.00 September 25, 2033 I-LTM1 Variable(2) $ 347,735.00 September 25, 2033 I-LTM2 Variable(2) $ 285,640.00 September 25, 2033 I-LTM3 Variable(2) $ 86,935.00 September 25, 2033 I-LTM4 Variable(2) $ 86,935.00 September 25, 2033 I-LTM5 Variable(2) $ 74,515.00 September 25, 2033 I-LTM6 Variable(2) $ 49,675.00 September 25, 2033 I-LTB1A Variable(2) $ 34,775.00 September 25, 2033 I-LTB1B Variable(2) $ 34,775.00 September 25, 2033 I-LTZZ Variable(2) $ 5,009,878.03 September 25, 2033 I-LTP ▇▇▇▇▇▇▇▇(2) $ 100.00 September 25, 2033
I- LT1A Variable(2) $ 16,884.01 September 25, 2033 I-LT1B Variable(2) $ 80,339.92 September 25, 2033 I-LT2A Variable(2) $ 3,980.12 September 25, 2033 I-LT2B Variable(2) $ 18,953.22 September 25, 2033 I-LTXX Variable(2) $ 496,645,434.33 September 25, 2033
(1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC I Regular Interest.
(2) Calculated in accordance with the definition of "REMIC I Remittance Rate" herein. REMIC II -------- As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of the REMIC I Regular Interests as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC II." The Class R-II Interest will evidence the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Pass-Through Rate, the initial aggregate Certificate Principal Balance and, solely for purposes of satisfying Treasury regulation Section 1.860G-1(a)(4)(iii), the "latest possible maturity date" for the indicated Classes of Certificates. Initial Aggregate Latest Possible Designation Pass-Through Rate Certificate Principal Balance Maturity Date (1) ----------- ----------------- ----------------------------- ----------------- Class A-1 Variable(2) $ 571,643,000.00 September 25, 2033 Class A-2A Variable(2) $ 37,6...
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. ___________________________
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------- --------------- ---------------------- ---------------- II-LT1 Variable(2) II-LT2 % per annum II-LT3 % per annum II-LT4 % per annum II-LT5 % per annum II-LT6 % per annum II-LT7 % per annum(3) II-LT8 % per annum II-LT9 Variable(2) II-LTP (4) II-LT2S Variable(2) (5) II-LT3S Variable(2) (5) II-LT5S Variable(2) (5) II-LT6S Variable(2) (5) II-LT7S Variable(2) (5) II-LT8S Variable(2) (5) --------------------
(1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC II Regular Interest.
(2) Calculated in accordance with the definition of "REMIC II Remittance Rate" herein.
(3) Subject to the Net WAC Pass-Through Rate.
(4) The REMIC II Regular Interest II-LTP will not accrue interest.
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------- --------------- ---------------------- ---------------- II-LTAA Variable(2) $ 623,409,620.21 December 2033 II-LTA1 Variable(2) $ 3,754,040.00 December 2033 II-LTA2 Variable(2) $ 196,970.00 December 2033 II-LTA3 Variable(2) $ 500,000.00 December 2033 II-LTA4 Variable(2) $ 630,250.00 December 2033 II-LTA5 Variable(2) $ 341,765.00 December 2033 II-LTM1 Variable(2) $ 349,875.00 December 2033 II-LTM2 Variable(2) $ 222,640.00 December 2033 II-LTM3 Variable(2) $ 63,615.00 December 2033 II-LTM4 Variable(2) $ 63,615.00 December 2033 II-LTM5 Variable(2) $ 57,255.00 December 2033 II-LTMV6 Variable(2) $ 39,975.00 December 2033 II-LTMF6 Variable(2) $ 30,000.00 December 2033 II-LTZZ Variable(2) $ 6,472,645.31 December 2033 II-LTP Variable(2) $ 100.00 December 2033 II-LT1SUB Variable(2) $ 13,672.09 December 2033 II-LT1GRP Variable(2) $ 92,692.30 December 2033 II-LT2SUB Variable(2) $ 5,093.86 December 2033 II-LT2GRP Variable(2) $ 34,534.16 December 2033 I-LTXX Variable(2) $ 635,986,273.11 December 2033 ________________
Initial Latest Possible Designation Remittance Rate Uncertificated Balance. Maturity Date(1) ----------- --------------- ---------------------- ---------------- I-LTAA Variable(2) $ 490,000,261.10 March 25, 2034 I-LTA1 ▇▇▇▇▇▇▇▇(2) $ 2,081,700.00 March 25, 2034 I-LTA2 ▇▇▇▇▇▇▇▇(2) $ 1,255,200.00 March 25, 2034 I-LTA3 ▇▇▇▇▇▇▇▇(2) $ 1,215,600.00 March 25, 2034 I-LTM1 ▇▇▇▇▇▇▇▇(2) $ 85,000.00 March 25, 2034 I-LTM2 ▇▇▇▇▇▇▇▇(2) $ 80,000.00 March 25, 2034 I-LTM3 ▇▇▇▇▇▇▇▇(2) $ 50,000.00 March 25, 2034 I-LTM4 ▇▇▇▇▇▇▇▇(2) $ 50,000.00 March 25, 2034 I-LTM5 ▇▇▇▇▇▇▇▇(2) $ 72,500.00 March 25, 2034 I-LTZZ Variable(2) $ 5,110,005.33 March 25, 2034 I-LTP ▇▇▇▇▇▇▇▇(2) $ 100.00 March 25, 2034
(1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date immediately following the maturity date for the Mortgage Loan with the latest maturity date has been designated as the "latest possible maturity date" for each REMIC I Regular Interest.
(2) Calculated in accordance with the definition of "REMIC I Remittance Rate" herein.