Class B Certificate Clause Samples
A Class B Certificate clause defines the rights and obligations associated with a specific class of certificates, typically issued as part of a structured finance transaction or trust. This clause outlines the characteristics of Class B Certificates, such as their payment priority, voting rights, and entitlement to distributions, which may differ from other classes like Class A or Class C. For example, Class B Certificate holders might receive payments only after Class A holders are paid, and may have limited control over certain decisions. The core function of this clause is to clearly delineate the hierarchy and terms for different certificate holders, ensuring transparency and proper allocation of payments and rights within the structure.
Class B Certificate. 11 Class B-1 Certificate...................................................11 Class B-1 Principal Distribution Amount.................................11 Class B-2 Certificate...................................................12 Class B-2 Principal Distribution Amount.................................12 Class B-3 Certificate...................................................13 Class B-3 Principal Distribution Amount.................................13
Class B Certificate. 8 CLASS B PRINCIPAL DISTRIBUTION AMOUNT.....................................8 CLASS B REALIZED LOSS AMORTIZATION AMOUNT.................................9
Class B Certificate. 12 Class B Principal Distribution Amount...............................................................13
Class B Certificate. 8 Class B-1 Certificate ................................................ 8 Class B-2 Certificate ................................................ 8 Class B-3 Certificate ................................................ 8
Class B Certificate. The Trust Agreement also permits the amendment thereof, in certain limited circumstances, without the consent of the holders of any of the Class B Certificates (other than the Initial Holder, or the Insurer). As provided in the Trust Agreement and subject to certain limitations therein set forth, the transfer of this Class B Certificate is registrable in the Certificate Register upon surrender of this Class B Certificate for registration of transfer at the offices or agencies of the Certificate Registrar maintained by the Owner Trustee in the Corporate Trust Office, accompanied by a written instrument of transfer in form satisfactory to the Owner Trustee and the Certificate Registrar duly executed by the holder hereof or such holder's attorney duly authorized in writing, and thereupon one or more new Class B Certificates in authorized denominations evidencing the same aggregate interest in the Trust will be issued to the designated transferee. The initial Certificate Registrar appointed under the Trust Agreement is LaSalle Bank National Association. The Class B Certificates are issuable only as registered Class B Certificates without coupons in minimum Percentage Interests of 1%. As provided in the Trust Agreement and subject to certain limitations therein set forth, Class B Certificates are exchangeable for new Class B Certificates in authorized denominations evidencing the same aggregate denomination, as requested by the holder surrendering the same. No service charge will be made for any such registration of transfer or exchange, but the Owner Trustee or the Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge payable in connection therewith. The Owner Trustee, the Certificate Registrar, the Insurer and any agent of the Owner Trustee, the Certificate Registrar, or the Insurer may treat the person in whose name this Class B Certificate is registered as the owner hereof for all purposes, and none of the Owner Trustee, the Certificate Registrar, the Insurer nor any such agent shall be affected by any notice to the contrary. The obligations and responsibilities created by the Trust Agreement and the Trust created thereby shall terminate upon the payment to Class B Certificateholders of all amounts required to be paid to them pursuant to the Trust Agreement, the Indenture and the Transfer and Servicing Agreement and the disposition of all property held as part of the Trust. The Master Servicer may at its optio...
Class B Certificate. The Company is the beneficial owner and owner of record of the Class B Certificate, free and clear of all security interests and Liens except those in favor of the Purchaser. The principal balance of the Class B Certificate outstanding as of the date hereof is $11,241,931.00 Other than the Company, no Person has any right or interest in the Class B Certificate.