Retained Notes means the Class B Notes, $22,050,000 of the Class A-1 Notes, $31,100,000 of the Class A-2 Notes, $25,410,000 of the Class A-3 Notes and $6,750,000 of the Class A-4 Notes until such time as such Notes are the subject of an Opinion of Counsel pursuant to Section 2.04(g) of this Indenture with respect to their classification as debt for U.S. federal income tax purposes.
Retained Notes. The Notes initially retained by the Depositor or a Person treated as the same Person as the Depositor for U.S. federal income tax purposes.
Retained Notes if any, means any Notes retained in the initial offering thereof by the Depositor or NMAC or conveyed to an Affiliate.
Examples of Retained Notes in a sentence
The Trust intends that Notes[, other than the Retained Notes,] be treated as indebtedness for purposes of U.S. federal, State and local income tax, franchise tax, and any other tax imposed on or measured in whole or in part by income.
Any Retained Notes will not be treated as issued or outstanding for U.S. federal income tax purposes as of the Closing Date.
More Definitions of Retained Notes
Retained Notes. The Notes initially retained by the Depositor or a Person treated as the same Person as the Depositor for U.S. federal income tax purposes. Schedule of Receivables: The schedule of Receivables attached to the First Step Receivables Assignment delivered on the Closing Date and originally held as part of the Trust, and on file at the locations listed on Exhibit A of the Trust Sale Agreement, as it may be amended from time to time.
Retained Notes if any, means any Notes beneficially owned by the Issuer or an entity which, for U.S. federal income tax purposes, is treated as the same Person as the Issuer, until such time as such Notes are the subject of an opinion pursuant to Section 2.04(g) of the Indenture.
Retained Notes means [RESERVED].
Retained Notes means the Class C Notes to the extent retained on the Closing Date by Credit Acceptance or one of its Affiliates, for so long as such Notes are retained by Credit Acceptance or one of its Affiliates and, if transferred or assigned by Credit Acceptance or one of its Affiliates, until an Opinion of Counsel has been rendered with respect to the Class of such Notes that the Notes of such Class or any interest therein will be treated as debt for U.S. federal income tax purposes.
Retained Notes means any Notes, or interests therein, beneficially owned by the Issuer or an entity which, for U.S. federal income tax purposes, is considered the same Person as the Issuer, until such time as such Notes are the subject of an opinion pursuant to Section 2.6(d) hereof.
Retained Notes means the Class B Notes; provided, that upon any Retained Notes becoming Later-Sold Notes, they shall no longer be considered Retained Notes.
Retained Notes means the Class B Notes and the Class C Notes, until such time as such Notes are the subject of a Debt Opinion, which Debt Opinion shall have been received by the Depositor and the Indenture Trustee.