Class X Regular Interest definition

Class X Regular Interest. The uncertificated interest corresponding to the Class X Certificates, the Class V-ABC Certificates (to the extent of the Class V-ABC Percentage Interest of the Class X Regular Interest) and the Class V2 Certificates (to the extent of the Class V2 Percentage Interest of the Class X Regular Interest), constituting a “regular interest” in the Upper-Tier REMIC for purposes of the REMIC Provisions and having the characteristics attributable thereto in this Agreement.
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Class X Regular Interest. The REMIC V Regular Interests 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 Regular Interest. The Upper Tier Regular Interests represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.
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Examples of Class X Regular Interest in a sentence

  • The Class X Regular Interest and each Class of LIBOR Certificates (other than the right of each Class of LIBOR Certificates to receive Basis Risk Carry Forward Amounts) represents ownership of a regular interest in a Trust REMIC for purposes of the REMIC Provisions.

  • For all federal income tax purposes, amounts transferred by the Class X REMIC to the Excess Reserve Fund Account shall be treated as distributions by the Trustee, for federal income tax purposes, in respect of the Class X Regular Interest from the Class X REMIC to the Class X Certificateholders.

  • Any Basis Risk Carry Forward Amounts distributed by the Trustee to the LIBOR Certificateholders shall be accounted for by the Trustee as amounts paid first to the Holders of the Class X Certificates (as recipient of 100% of amounts payable in respect of the Class X Regular Interest) and then to the respective Class or Classes of LIBOR Certificates.

  • Amounts paid to the Class X Certificates (prior to any reduction for any Basis Risk Payment) shall be deemed paid (i) first, from the Upper Tier REMIC in respect of the Class UT-X Interest to the Class X REMIC as holder of the Class UT-X Interest and (ii) then from the Class X REMIC in respect of the Class X Regular Interest to the holders of the Class X Certificates.

  • The Class X Regular Interest and each Class of Principal Certificates (other than the right of each Class of Principal Certificates to receive Basis Risk Carry Forward Amounts) represents ownership of a regular interest in a REMIC for purposes of the REMIC Provisions.

  • The Class X Regular Interest and each Class of Offered Certificates (other than the right of each Class of Offered Certificates to receive Basis Risk Carry Forward Amounts) represents ownership of a regular interest in a REMIC for purposes of the REMIC Provisions.

  • The Class X Certificates also represent beneficial interests in the corresponding Class X Regular Interest, subject to the obligation to make payments to the Class A Certificates in respect of their related Interest Carryovers.


More Definitions of Class X Regular Interest

Class X Regular Interest. The REMIC V Regular Interests represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto. Closing Date: September 29, 2006.
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Class X Regular Interest. A regular interest in REMIC III, ownership of which is evidenced by the Class X Certificates.
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Class X Regular Interest. The regular interest, within the meaning of Code ------------------------ Section 860G(a)(1), represented by the Class X Certificate, other than the right to receive the Initial Class X Reserve Account Deposit and earnings thereon, and other than the obligation to make payments under the Cap Agreement.
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Related to Class X Regular Interest

  • REMIC 2 Regular Interest Each of the REMIC 2 Interests other than the Class LT2-R Interest.

  • REMIC 1 Regular Interest Each of the REMIC 1 Interests other than the Class LT1-R Interest.

  • REMIC I Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC I issued hereunder and designated as a "regular interest" in REMIC I. Each REMIC I Regular Interest shall accrue interest at the related REMIC I Remittance Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC I Regular Interests are set forth in the Preliminary Statement hereto.

  • REMIC III Regular Interest The Class CE Interest, Class P Interest, Class IO Interest or any Regular Interest in REMIC III the ownership of which is represented by any of the Class A Certificates or Class M Certificates.

  • REMIC II Regular Interest Any of the separate non-certificated beneficial ownership interests in REMIC II issued hereunder and designated as a “regular interest” in REMIC II. Each REMIC II Regular Interest shall accrue interest at the related REMIC II Remittance Rate in effect from time to time, and shall be entitled to distributions of principal, subject to the terms and conditions hereof, in an aggregate amount equal to its initial Uncertificated Balance as set forth in the Preliminary Statement hereto. The designations for the respective REMIC II Regular Interests are set forth in the Preliminary Statement hereto.