Class UR Interest definition

Class UR Interest. The uncertificated residual interest in the Upper-Tier REMIC, represented by the Class R Certificates.
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Class UR Interest. The sole class of "residual interest" in the Upper-Tier REMIC.
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Class UR Interest. The residual interest in the Upper Tier REMIC for purposes of the REMIC Provisions. Closing Date: July 30, 2009. Code: The Internal Revenue Code of 1986, as it may be amended from time to time.
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Examples of Class UR Interest in a sentence

  • Any Available Funds remaining in the Upper-Tier REMIC Distribution Account after all required distributions under this Agreement have been made to each Class of Regular Certificates will be deemed distributed to the Class UR Interest and shall be payable to the Holders of the Class R Certificates.

  • None of the Special Servicer, the Master Servicer or the Trustee shall permit the creation of any “interests” (within the meaning of Section 860G of the Code) (i) in the Upper-Tier REMIC other than the Regular Certificates and the Class UR Interest and (ii) in the Lower-Tier REMIC other than the Lower-Tier Regular Interests and the Class LR Interest.

  • The Class UR Interest will not have a Certificate Balance or Notional Amount, will not bear interest and will not be entitled to distributions of Prepayment Premiums or Yield Maintenance Charges.

  • For the purposes of the REMIC election in respect of the Upper-Tier REMIC, each Class of Regular Certificates shall be designated as a class of “regular interests” and the Class UR Interest shall be designated as the sole class of “residual interests” in the Upper-Tier REMIC.

  • The Upper-Tier REMIC will also issue the uncertificated Class UR Interest, which is the sole class of “residual interests” in the Upper-Tier REMIC for purposes of the REMIC Provisions and is represented by the Class R Certificates.


More Definitions of Class UR Interest

Class UR Interest. As defined in the Preliminary Statement.
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Class UR Interest shall be the "residual interest" in the Upper-Tier REMIC. The portion of the Trust Estate consisting of the Reserve Account, the Yield Maintenance Agreements, the Class P Certificates, the rights of the Offered Certificates to receive Cap Carryover Amounts and the obligation of the Class CE Certificates to pay Cap Carryover Amounts shall not be assets of either REMIC created hereunder, but rather shall be assets of the Grantor Trust. The assets of the Grantor Trust, the Certificates and the Uncertificated Lower-Tier Interests will represent the entire beneficial ownership interest in the Trust. The "latest possible maturity date" for federal income tax purposes of all interests created hereby will be the REMIC Certificate Maturity Date. The following table sets forth characteristics of the Certificates and Components, together with the minimum denominations and integral multiples in excess thereof in which the Classes of Certificates shall be issuable: ================================================================================================================== Integral Pass- Minimum Multiples Initial Class Through Denomination/ in Excess Classes Certificate Balance Rate Percentage Interest of Minimum ------------------------------------------------------------------------------------------------------------------ Class A-1 $295,302,000.00 (1) $1,000 $1 ------------------------------------------------------------------------------------------------------------------ Class A-2 $111,958,000.00 (2) $1,000 $1 ------------------------------------------------------------------------------------------------------------------ Class A-3 (3) (3) $1,000 $1 ------------------------------------------------------------------------------------------------------------------ Class M-1 $14,365,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class M-2 $10,898,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class B-1 $7,926,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class B-2 $2,477,000.00 (4) $25,000 $1 ------------------------------------------------------------------------------------------------------------------ Class B-3 $3,220,000.00 (4) $25,000 $1 --------------------------------------------------...
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