Class R-3 Certificates definition

Class R-3 Certificates. The Certificates designated as "Class R-3" on the face thereof in substantially the form attached hereto as Exhibit A, which have been designated as the single class of "residual interest" in REMIC III pursuant to Section 2.07.
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Class R-3 Certificates. All Certificates bearing the class designation of "Class R-3."
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Class R-3 Certificates. Following the division of the Class R ---------------------- Certificates into three separately transferable, certificated and fully registered certificates in accordance with Section 14(b) hereof, the Class R-3 Certificates, which will represent the Pooling REMIC Residual Interest.
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Examples of Class R-3 Certificates in a sentence

  • The Trustee acknowledges receipt of the REMIC II Regular Interests (which are uncertificated) and the other assets of REMIC III and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the REMIC III Regular Interests and the Class R-3 Certificates.

  • The Trustee acknowledges receipt of the REMIC II Regular Interests (which are uncertificated) and the other assets of REMIC III and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the Regular Certificates (other than the Class C Certificates), the Class C Interest, the Class IO Interest and the Class R-3 Certificates.

  • The Class R-3 Certificates will represent the sole class of Residual Interests in REMIC III for purposes of the REMIC Provisions.

  • The Trustee acknowledges receipt of the REMIC II Regular Interests (which are uncertificated) and the other assets of REMIC III and declares that it holds and will hold the same in trust for the exclusive use and benefit of the holders of the REMIC III Regular Interests and the Class R-3 Certificates.

  • Notwithstanding anything to the contrary contained herein, the Company is hereby authorized to retain from amounts otherwise distributable to the Holders of the Class R-3 Certificates on any Distribution Date sufficient funds to reimburse the Company for the payment of such tax (to the extent that the Company has not been previously reimbursed therefor).

  • The Class R-3 Certificates are being issued in a single Class, which is hereby designated as the sole class of "residual interest" in the REMIC III Trust Fund for purposes of Section 860G(a)(2) of the Code.

  • Notwithstanding the foregoing, on the first Distribution Date, an amount equal to $50 shall be distributed to each of the Class R-1 Certificates, the Class R-2 Certificates and the Class R-3 Certificates from funds deposited in the Distribution Account on the Closing Date.

  • The Class R-3 Certificates represent ownership of the sole class of residual interest in the Class X REMIC.

  • The final distribution of principal of each Certificate (and the final distribution upon the Class R-1, Class R-2 and Class R-3 Certificates upon the termination of REMIC I, REMIC II and REMIC III) shall be payable in the manner provided above only upon presentation and surrender thereof on or after the Distribution Date therefor at the office or agency of the Certificate Registrar specified in the notice delivered pursuant to Section 4.05(c)(ii) and Section 9.01(b).

  • It is expected that there will not be any distributions on the Class R-3 Certificates.


More Definitions of Class R-3 Certificates

Class R-3 Certificates. That certificate representing certain residual rights to distribution from the REMIC III in substantially the form set forth as Exhibit A hereto.
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Related to Class R-3 Certificates

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class B-5 Certificates The Certificates designated as “Class B-5” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class B-4 Certificates The Certificates designated as “Class B-4” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Class B-3 Certificates All Certificates bearing the class designation of "Class B-3".