Common use of Solely for purposes Clause in Contracts

Solely for purposes. of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month 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 that represents one or more of the "regular interests" in REMIC I. (2) Calculated in accordance with the definition of "Uncertificated REMIC I Pass-Through Rate" herein. REMIC II -------- As provided herein, the Trustee will make an election 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-2 Certificates will represent the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Uncertificated REMIC II Pass-Through Rate, the 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 II Regular Interests. None of the REMIC II Regular Interests will be certificated. (1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month 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 that represents one or more of the "regular interests" in REMIC II. (2) Calculated in accordance with the definition of "Uncertificated REMIC II Pass-Through Rate" herein.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac4)

Solely for purposes. of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month 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 that represents one or more of the "regular interests" in REMIC I. (2) Calculated in accordance with the definition of "Uncertificated REMIC I Pass-Through Rate" herein. REMIC II -------- As provided herein, the Trustee will make an election 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-2 Certificates Interest will represent be the sole class of "residual interests" in REMIC II for purposes of the REMIC Provisions. The following table irrevocably sets forth the designation, the Uncertificated REMIC II Pass-Through Rate, the initial Initial Uncertificated Principal BalanceBalance and, 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 II Regular InterestsInterests (as defined herein). None of the REMIC II Regular Interests will be certificated.. Uncertificated Initial Undertificated REMIC II Assumed Final Maturity Designation Principal Balance Pass-Through Rate Date(1) ----------- ----------------- ----------------- ------- LTII-AA $235,207,930.92 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇▇6,210.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇▇2,550.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇▇8,410.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇▇ $▇▇0,000.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇▇ $▇▇8,840.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇▇3,590.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇▇0,000.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇0,000.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇5,600.00 Variable(2) ▇▇▇▇▇ ▇▇, ▇▇▇▇ ▇▇▇▇-▇▇ $▇2,800.00 Variable(2) March 25, 2034 LTII-ZZ $2,412,161.86 Variable(2) March 25, 2034 LTII-IO(3) N/A(4) 5.00%(2) March 25, 2034 ▇▇▇▇-▇ $100 Variable(2) March 25, 2034 (1) Solely for purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the Distribution Date in the month 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 that represents one or more of the "regular interests" in REMIC II. II Regular Interest. (2) Calculated in accordance with the definition of "Uncertificated REMIC II Pass-Through Rate" herein. (3) The Class A-IO Certificates will represent 5 REMIC regular interest components, REMIC II Regular Interest Component IO-1 through Component IO-5. Each component will have (a) a rate of 5.00% per annum from the Closing Date to but not including the Rate Change Date for such component and thereafter a rate of 0.00% and (b) an uncertificated notional amount equal to the Uncertificated Principal Balance of the REMIC I Regular Interest for which such component is the Corresponding Interest. (4) REMIC II Regular Interest LTII-IO will not have an Uncertificated Principal Balance, but will accrue interest on its uncertificated notional amount calculated in accordance with the definition of "Uncertificated Notional Amount" herein. REMIC III --------- As provided herein, the Trustee will make an election 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-3 Interest will represent the sole class of "residual interests" in REMIC III for purposes of the REMIC

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Mortgage Pass-Through Certificates Series 2004-Ap1)