Class X Interest definition

Class X Interest. The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

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Class X Interest. The Upper-Tier Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: April 28, 2006. Closing Date Deposit Amount: $49,916.74 (all of which is allocable to principal) deposited by the Depositor into the Distribution Account on the Closing Date. $13.18 of the Closing Date Deposit Amount shall be attributable to the Group I Mortgage Loans and $49,903.56 of the Closing Date Deposit Amount shall be attributable to the Group II Mortgage Loans.

Examples of Class X Interest in a sentence

Any Basis Risk CarryForward Amounts and, without duplication, Upper-Tier CarryForward Amounts distributed by the Trustee to the Offered Certificateholders shall be accounted for by the Trustee, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates in respect of the Class X Interest and (to the extent remaining after payments to the Swap Provider) the Class IO Interest, and then to the respective Class or Classes of Offered Certificates.
Any Basis Risk Carry Forward Amounts distributed by the Securities Administrator to the LIBOR Certificateholders from the Excess Reserve Fund Account shall be accounted for by the Securities Administrator, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates (in respect of the Class X Interest) and then to the respective Class or Classes of LIBOR Certificates.
The Class X Certificate represents ownership of the Class X Interest in the Master REMIC and also represents ownership of the assets held from time to time in the Basis Risk Reserve Fund and the Supplemental Interest Trust.
Any Basis Risk Carry Forward Amounts distributed by the Trustee to the LIBOR Certificateholders from the Excess Reserve Fund Account shall be accounted for by the Trustee, for federal income tax purposes, as amounts paid first to the Holders of the Class X Certificates (in respect of the Class X Interest) and then to the respective Class or Classes of LIBOR Certificates.
Notwithstanding the above, principal payments allocated to the Class X Interest that result in the reduction in the Overcollateralized Amount shall be allocated to the Class MT-Accrual Interest (until paid in full).

More Definitions of Class X Interest

Class X Interest. The Upper-Tier Regular Interest as specified and described in the Preliminary Statement and the related footnote thereto.

Class X Interest. As defined in the Preliminary Statement.

Class X Interest. An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class X Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

Class X Interest. The Upper Tier REMIC Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: May 3, 2006. Closing Date Deposit Amount: $528,418.02 (all of which is allocable to principal) deposited by the Depositor into the Distribution Account on the Closing Date.

Class X Interest. The Upper Tier Regular Interest represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: February 26, 2003. Closing Date Deposit Amount: $2,791.98 ($2,774.16 of which is allocable to principal) deposited by the Depositor into the Distribution Account on the Closing Date. $1,464.06 ($1,454.72 of which is allocable to principal) of the Closing Date Deposit Amount shall be attributable to the Group I Mortgage Loans, and $1,327.92 ($1,319.44 of which is allocable to principal) of the Closing Date Deposit Amount shall be attributable to the Group II Mortgage Loans.

Class X Interest. An uncertificated regular interest in the Subsidiary REMIC with an initial principal balance equal to the excess of (i) the aggregate principal balances of the Mortgage Loans over (ii) the aggregate principal balances of the Marker Classes and an interest rate equal to the Net Rate.

Class X Interest. A regular interest in the Upper-Tier REMIC, ownership of which is evidenced by the Class X Certificates.

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