Class R-IV Interest definition

Class R-IV Interest. The uncertificated Residual Interest in REMIC IV.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Class R-IV Interest. The uncertificated residual interest in REMIC IV. Closing Date: March 12, 2007.

Class R-IV Interest means the residual interest in REMIC IV represented by the Class R2 Certificate.

Examples of Class R-IV Interest in a sentence

The CE Certificates shall be designated as the Regular Interests in REMIC IV and the Class R-IV Interest shall be designated as the Residual Interest in REMIC IV.
The P Certificates shall be designated as the Regular Interests in REMIC IV and the Class R-IV Interest shall be designated as the Residual Interest in REMIC IV.
The Class P Certificates shall be designated as the Regular Interests in REMIC IV and the Class R-IV Interest shall be designated as the Residual Interest in REMIC IV.
As provided herein, the Trustee shall make an election to treat the segregated pool of assets consisting of the Class CE Interest as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as “REMIC IV.” The Class R-IV Interest represents the sole class of “residual interests” in REMIC IV for purposes of the REMIC Provisions.
The interests evidenced by the Class R-IV Interest, together with the Class P Certificates, constitute the entire beneficial ownership interest in REMIC IV.
The Class CE Certificates shall be designated as the Regular Interests in REMIC IV and the Class R-IV Interest shall be designated as the Residual Interest in REMIC IV.
The Trustee acknowledges receipt of the Class P Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of the Holders of the Class P Certificates and the Class R-X Certificates (in respect of the Class R-IV Interest).
The interests evidenced by the Class R-IV Interest, together with the Class CE Certificates, constitute the entire beneficial ownership interest in REMIC IV.
Consistent with the Employer’s present practice and subject to staffing requirements, the Employer will attempt to rotate holiday work assignments equitably.
The Class R-IV Interest will represent the sole class of residual interest in the Master REMIC.

More Definitions of Class R-IV Interest

Class R-IV Interest. The uncertificated residual interest in REMIC IV. Closing Date: February 14, 2007. Code: The United States Internal Revenue Code of 1986, including any successor or amendatory provisions.

Class R-IV Interest. The uncertificated Residual Interest in REMIC IV. “Class R-V Interest”: The uncertificated Residual Interest in REMIC V. “Class R-VI Interest”: The uncertificated Residual Interest in REMIC VI.

Class R-IV Interest has no Class Principal Balance and no Pass-Through Rate. The Class R-IV Interest is represented by the Class R Certificate. GRANTOR TRUST ------------- INITIAL CLASS PRINCIPAL BALANCE OR INITIAL PASS-THROUGH RATE CLASS DESIGNATION NOTIONAL BALANCE (PER ANNUM) ----------------- -------------------- ------------------------- A-1 $105,701,000 %(1)(2) A-2 $104,998,000 6.21%(2) A-3 $104,428,000 6.39%(2)(3) A-4 $44,884,203 6.75%(2)(3) A-5 $50,722,824 7.21%(2)(3) A-6 $22,000,000 6.73%(2)(3) A-6IO $22,000,000(4) 8.00% X-IO (5) (6) Z-IO (7) (8) R1 N/A (9) N/A (9) R2 N/A (10) N/A (10) ------------------- (1) The Pass-Through Rate of the Class A-1 Certificates is equal to the lesser of (i) LIBOR plus 0.09% and (ii) the Class A-1 Available Funds Cap. (2) The Pass-Through Rate of the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-6 Certificates shall increase by 0.50% per annum on the first day of the Accrual Period in which the Optional Termination Date occurs. (3) The Pass-Through Rate of the Class A-3, Class A-4, Class A-5 and Class A-6 Certificates is the lesser of their respective fixed rates and the Fixed Rate Available Funds Cap. (4) The Class A-6IO Certificates have no Class Principal Balance. The Notional Balance of the Class A-6IO Certificates is the Class A-6 Principal Balance. (5) The Class X-IO Certificates have no Class Principal Balance or Notional Balance. (6) The Class X-IO Certificates have no Pass-Through Rate. The Class X-IO Certificates are entitled to the Class X-IO Distribution Amount. (7) The Class Z-IO Certificates have no Class Principal Balance or Notional Balance. (8) The Class Z-IO Certificates have no Pass-Through Rate. The Class Z-IO Certificates are entitled to the Class Z-IO Distribution Amount. (9) The Class R1 Certificates have no Class Principal Balance and no Pass-Through Rate. The Class R Certificates represent the Class R-I Interest. (10) The Class R2 Certificates have no Class Principal Balance and no Pass-Through Rate. The Class R2 Certificates represent the Class R-II, Class R-III and Class R-IV Interests.

Related to Class R-IV Interest

Class R-I Interest The uncertificated Residual Interest in REMIC I.
Class R-4 Interest The uncertificated Residual Interest in REMIC 4.
Class R-II Interest The uncertificated Residual Interest in REMIC II.
Class R-3 Interest The uncertificated Residual Interest in REMIC 3.
Class R-III Interest The uncertificated Residual Interest in REMIC III.

Related to Class R-IV Interest

Filter & Search

Related Definitions