Initial Uncertificated VRR Interest Balance definition

Initial Uncertificated VRR Interest Balance. As defined in the Introductory Statement.
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Initial Uncertificated VRR Interest Balance as applicable, for each Class of Principal Balance Certificates, the Uncertificated VRR Interest and the Class UT-R Interest, which comprise the interests in the Upper-Tier REMIC created hereunder: Class A 3.575%(2) $105,735,000 Class B 3.575%(2) $97,755,000 Class VRR (3) $8,568,000 Uncertificated VRR Interest (4) $2,142,000 Class UT-R(5) N/A(5) N/A(5)
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Related to Initial Uncertificated VRR Interest Balance

  • Uncertificated Lower-Tier Interest A regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and is entitled to monthly distributions as provided in Section 5.02(a) hereof. Any of the Class 1-L Interest, Class 1-LS Interest, Class 2-L Interest, Class 2-LS Interest, Class 3-L Interest, Class 3-LS Interest, Class 4-L Interest and Class 4-LS Interest are Uncertificated Lower-Tier Interests.

  • Uncertificated Distributable Interest As defined in Section 2.11(g) with respect to any REMIC I Regular Interest for any Distribution Date and in Section 2.13(g) with respect to any REMIC II Regular Interest for any Distribution Date.

  • Uncertificated Lower-Tier Interests Any of the Class LA1, Class LA2, Class LA3, Class LA4, Class LA5, Class LASB, Class LAS, Class LB, Class LC, Class LD, Class LE, Class LF and Class LNR Uncertificated Interests.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class LB Uncertificated Interest An uncertificated regular interest in the Lower-Tier REMIC which is held as an asset of the Upper-Tier REMIC and having the Original Lower-Tier Principal Amount and per annum rate of interest set forth in the Preliminary Statement hereto.