REMIC Residual Interest definition

REMIC Residual Interest means a residual interest, as defined in Section 860G(a)(2) of the Tax Code, in a REMIC, or any interest that has been represented or otherwise held out to be a residual interest in a REMIC irrespective of whether such interest qualifies as a residual interest in a REMIC as defined in Section 860G(a)(2) of the Tax Code.
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REMIC Residual Interest. The REMIC residual interest in the [_________] REMIC, which residual interest was transferred and assigned by Capmark Finance Inc. to the Depositor pursuant to the Mortgage Loan Purchase Agreement between the Depositor and Capmark Finance Inc..
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REMIC Residual Interest. A "residual interest" within the meaning set ----------------------- forth from time to time in the definition thereof at Section 860G(a)(2) of the Code or any successor statute thereto.
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Examples of REMIC Residual Interest in a sentence

  • The interests evidenced by the Master REMIC Residual Interest, together with the Regular Certificates, constitute the entire beneficial ownership interest in the Master REMIC.

  • Amounts deemed distributed in respect of a Mortgage Loan REMIC Regular Interest shall be deposited in the Lower-Tier Distribution Account, and amounts deemed distributed in respect of a Mortgage Loan REMIC Residual Interest shall be deposited into the Mortgage Loan REMIC Residual Distribution Account to be distributed to the Class R Certificates as set forth in Section 4.01(o) or the Excess Liquidation Proceeds Reserve Account, as applicable.

  • Prior to the applicable Distribution Date, the Master Servicer shall withdraw from the Collection Account and remit to the Certificate Administrator on the applicable Master Servicer Remittance Date for deposit in the Loan REMIC Residual Distribution Account amounts deemed distributed on the Loan REMIC Residual Interest from the Loan REMIC pursuant to the related REMIC Declaration prior to the Determination Date for the applicable Collection Period.

  • The Certificate Administrator shall, on any Distribution Date, make withdrawals from the Loan REMIC Residual Distribution Account to the extent required to make the distributions in respect of the Loan REMIC Residual Interest required by Section 4.01(m).

  • The GACC MGM Grand & Mandalay Bay REMIC Declaration designates the GACC MGM Grand & Mandalay Bay REMIC Regular Interest as a “regular interest” in such MGM Grand & Mandalay Bay REMIC within the meaning of Section 860(G)(a)(1) of the Code and the GACC MGM Grand & Mandalay Bay REMIC Residual Interest as the sole class of “residual interests” in such MGM Grand & Mandalay Bay REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Amounts (other than Excess Interest) deposited into and withdrawn from the Collection Account in respect of the CREFI MGM Grand & Mandalay Bay Mortgage Loan Portion and the GACC MGM Grand & Mandalay Bay Mortgage Loan Portion shall be deemed to be distributed in respect of the related MGM Grand & Mandalay Bay Trust REMIC Regular Interest and the related MGM Grand & Mandalay Bay REMIC Residual Interest in accordance with the related REMIC Declaration.

  • For purposes of the REMIC election in respect of the Loan REMIC, each Class of Loan REMIC Regular Interests shall be designated as the "regular interests" and the Loan REMIC Residual Interest, represented by the Class LR Certificates, shall be designated as the sole class of "residual interests" in the Loan REMIC.

  • The Upper Tier REMIC Residual Interest is hereby designated as the sole residual interest in the Upper Tier REMIC.

  • Amounts deposited into and withdrawn from the Collection Account in respect of any Loan REMIC Held Mortgage Loan shall be deemed to be distributed in respect of the related Loan REMIC Regular Interest and the related Loan REMIC Residual Interest in accordance with the related REMIC Declaration.

  • The ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Pari Passu Loan REMIC Residual Interest is represented by the Class R-EA Certificate, has been designated as the sole Class of residual interests in the ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Pari Passu Loan REMIC and has no Certificate Balance and no Pass-Through Rate, but is entitled to receive the proceeds of any assets remaining in the ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Pari Passu Loan REMIC after the ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇ Pari Passu Loan REMIC Regular Interest has been paid in full.


More Definitions of REMIC Residual Interest

REMIC Residual Interest. The sole uncertificated "residual interest", within the meaning of Section 860G(a)(2) of the Code, in the ▇▇▇▇▇▇ Paints (▇▇▇▇▇▇▇▇ Plaza) REMIC, issued pursuant to the ▇▇▇▇▇▇ Paints (▇▇▇▇▇▇▇▇ Plaza) REMIC Declaration.
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REMIC Residual Interest. The REMIC residual interest in the [________] REMIC, which residual interest was transferred and assigned by [_________] to the Depositor pursuant to the Mortgage Loan Purchase Agreement between the Depositor and [_________].
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Related to REMIC Residual Interest

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

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • 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.

  • 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.