Class R Certificate Sample Clauses
Class R Certificate. The Class R Certificate executed by the Trustee, and authenticated and delivered by the Authenticating Agent, substantially in the form annexed hereto as Exhibit A, and evidencing the ownership of the sole residual interest in the Upper-Tier REMIC.
Class R Certificate. 12 Class R-1 Interest......................................................................................12 Class R-2 Interest......................................................................................12 Class R-3 Interest......................................................................................12
Class R Certificate. (a) The Class R Certificate shall not be assigned or transferred except in accordance with this Section 4.08 and any other applicable provision of this Agreement.
(b) Each Person who has or acquires any Ownership Interest (as defined below) in the Class R Certificate shall be deemed by the acceptance or acquisition of such Ownership Interest in such Class R Certificate to have agreed to be bound by the following provisions and to have irrevocably appointed the Servicer as its attorney-in-fact to negotiate the terms of any mandatory sale under clause (vi) below and to execute all instruments of transfer and to do all other things necessary in connection with any such sale, and the rights of each Person acquiring any Ownership Interest in a Class R Certificate are expressly subject to the following provisions:
(i) Each Person holding or acquiring any Ownership Interest in a Class R Certificate shall be a Permitted Transferee (as defined below) and shall promptly notify the Servicer and the Trustee of any change or impending change in its status as a Permitted Transferee.
(ii) Any Ownership Interest in a Class R Certificate may not be subject to a Transfer (as defined below) without the express written consent of the Servicer (with a copy to the Trustee), and the Trustee shall not recognize the Transfer (as defined below) of such Class R Certificate, and such proposed Transfer shall not be effective, without such consent with respect thereto. In connection with any proposed Transfer of any Ownership Interest in a Class R Certificate, the Servicer shall, as a condition to such consent, require delivery to it, in form and substance satisfactory to it, and the proposed Transferee shall deliver to the Servicer and the Trustee, the following:
(A) an affidavit (a "Transfer Affidavit") of the proposed Transferee in the form attached as Exhibit H hereto; and
(B) an express agreement by the proposed Transferee to be bound by and to abide by the provisions of this Section. The Servicer shall notify the Trustee of any such Transfer to which it consents.
(iii) Notwithstanding the delivery of a Transfer Affidavit by a proposed Transferee under clause (ii) above, if the Servicer or a Responsible Officer of the Trustee has actual knowledge that the proposed Transferee is not a Permitted Transferee, no Transfer of any Ownership Interest in a Class R Certificate to such proposed Transferee shall be effected.
(iv) Each Person holding or acquiring any Ownership Interest in a Cl...
Class R Certificate. Such obligation of the Master Servicer shall be deemed to have been satisfied to the extent that substantially comparable information shall be provided by the Master Servicer pursuant to any requirements of the Code.
Class R Certificate. 17 Clean-Up Call Date .................................................... 17 Code .................................................................. 17 Combined Loan-to-Value Ratio .......................................... 17
Class R Certificate. Exhibit E...........
Class R Certificate. Each Holder of a Class R Certificate shall be entitled to separate such Certificate into its component parts. Upon receipt of a Class R Certificate and a written request from the Holder thereof to separate such certificate, the Securities Administrator shall issue to such registered Holder in exchange for such Class R Certificate (i) a separately transferable, certificated and fully registered security that shall, from the date of its issuance, represent the Holder’s Percentage Interest in the Class LR Interest and (ii) a separately transferable, certificated and fully registered security that shall, from the date of its issuance, represent the Holder’s Percentage Interest in the Class UR Interest. If requested by and at the expense of the Holder, the Securities Administrator shall obtain CUSIP numbers for such newly issued securities. The Securities Administrator shall make any allocations and distributions with respect to such newly issued securities (in respect of the Class LR Interest or Class UR Interest, as applicable) as set forth herein and such newly issued securities shall be subject to the same rights and restrictions as the Class R Certificate hereunder.
Class R Certificate. 26 Class R-I Certificate..................................................................26 Class R-II Certificate.................................................................26 Class R-III Certificate................................................................26 Class R-IV Certificate.................................................................26 Class R-V Certificate..................................................................26
Class R Certificate. After payment of the amounts ------------------- specified in clauses (i) through (xiv) above, to pay the remainder, if any, of the Excess Cashflow
(A) first, to the Class R Certificateholder, as reimbursement for any taxes or charges paid by the Class R Certificateholder pursuant to Section 6.06, and
(B) any remainder to the Class R Certificateholder in respect of the Class R-III Interest. If the Trustee shall not have received the applicable Monthly Report by any Payment Date, the Trustee shall, in accordance with this Section 8.04, distribute all funds then in the Certificate Account to Certificateholders, to the extent of such funds, on such Payment Date.
Class R Certificate. The balance, if any, of the Remaining Excess Cashflow
(A) first, to the Class R Certificateholder, as reimbursement for any taxes or charges paid by the Class R Certificateholder pursuant to Section 6.06, and
(B) any remainder to the Class R Certificateholder in respect of the Class R-III