Uncertificated Regular Interest definition

Uncertificated Regular Interest. Any of the REMIC I Regular Interests, REMIC II Regular Interests and REMIC III Regular Interests.
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Uncertificated Regular Interest. An uncertificated ownership interest in the Lower-Tier REMIC having an Uncertificated Principal Balance and bearing interest at a rate equal to the applicable Remittance Rate.
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Examples of Uncertificated Regular Interest in a sentence

  • Any Realized Losses allocated to REMIC 3 Uncertificated Regular Interest LT3-IC or REMIC 3 Uncertificated Regular Interest LT3-IIC shall be allocated by the Trust Administrator to the Class I-C Certificates and the Class II-C Certificates, respectively.

  • For federal and state income tax purposes, the Class II-C Certificateholders shall be deemed to be the owners of the Group II Reserve Fund and all amounts deposited into such Reserve Fund (other than the initial deposit therein of $1,000) shall be treated as amounts distributed by REMIC 3 to REMIC X in respect of REMIC 3 Uncertificated Regular Interest LT3-IIC and then distributed by REMIC X to the Holders of the Class II-C Certificates.

Related to Uncertificated Regular Interest

  • Uncertificated REMIC I Regular Interests The Uncertificated REMIC I Regular Interests Z together with the interests identified in the table below, each representing an undivided beneficial ownership interest in REMIC I, and having the following characteristics:

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

  • 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.

  • 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.