MASTER RESIDUAL INTEREST definition

MASTER RESIDUAL INTEREST. The interest in the Master REMIC represented by amounts, if any, remaining in the Collection Account following termination of the Trust Fund after payments to the Class A Certificateholders (other than the Class A-R Certificateholders), the Class M Certificateholders, the Class B Certificateholders and the Class A-R Certificates with respect to their interests in the Subsidiary Residual Interest (or the holders of any separate certificates representing the Subsidiary Residual Interest).
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MASTER RESIDUAL INTEREST. The interest in the Master REMIC represented by the right to payments in respect of the Outstanding Certificate Principal Balance of the Class A-R Certificates and the Class A-R Interest Accrual Amount and amounts, if any, remaining in the Collection Account following termination of the Trust Fund after payments to the Class A Certificateholders (other than the Class A-R Certificateholder), the Class M Certificateholders, the Class B Certificateholders and the Class A-R Certificateholders with respect to their interests in the Subsidiary Residual Interest (or the holders of any separate certificates representing the Subsidiary Residual Interest).
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MASTER RESIDUAL INTEREST. The interest in the Master REMIC represented by (i) amounts, if any, remaining in the Collection Account following termination of the Trust Fund after payments to the Class A Certificateholders (other than the Class A-R Certificateholders), the Class M Certificateholders, the Class B Certificateholders the holders of the Excess Amount Interest and the holders of the Class A-R Certificates with respect to their interests in the Subsidiary Residual Interest (or the holders of any separate certificates representing the Subsidiary Residual Interest) and (ii) amounts paid in respect of principal accrued interest on the Class A-R Certificates.
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Related to MASTER RESIDUAL INTEREST

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Residual Interest The sole class of "residual interests" in a REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).