Designation of Grantor Trusts Sample Clauses

Designation of Grantor Trusts. The Depositor, as of the Closing Date, and concurrently with the execution and delivery hereof, does hereby assign without recourse all the right, title and interest of the Depositor in and to the Class A-2FL Regular Interest and Class A-MFL Regular Interest to the Swap Trustee for the benefit of the Holders of the Class A-2FL and Class A-MFL Certificates, respectively, and the Class A-2FL Swap Counterparty and Class A-MFL Swap Counterparty, respectively. The Swap Trustee acknowledges the assignment to it of the Class A-2FL Regular Interest and Class A-MFL Regular Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class A-2FL and Class A-MFL Certificates, respectively. The Swap Trustee is hereby directed to enter into the Class A-2FL Swap Contract and Class A-MFL Swap Contract on or prior to the Closing Date. Concurrently with the assignment to the Swap Trustee of the Class A-2FL Regular Interest and Class A-MFL Regular Interest, and in exchange therefor and for the interest in the related Swap Contract, at the direction of the Depositor, the Swap Trustee has executed, authenticated and delivered to or upon the order of the Depositor, the Class A-2FL and Class A-MFL Certificates, respectively, in authorized denominations. The Class A-2FL Certificates are hereby designated as undivided beneficial interests in the segregated pool of assets consisting of the Class A-2FL Regular Interest, the Class A-2FL Swap Contract and the Class A-2FL Floating Rate Account (the "Class A-2FL Grantor Trust"), which shall be treated as a "grantor trust" within the meaning of subpart E, Part I of subchapter J of the Code. The Class A-MFL Certificates are hereby designated as undivided beneficial interests the segregated pool of assets consisting of the Class A-MFL Regular Interest, the Class A-MFL Swap Contract and the Class A-MFL Floating Rate Account (the "Class A-MFL Grantor Trust"), which such portions shall be treated as a "grantor trust" within the meaning of subpart E, Part I of subchapter J of the Code.
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Designation of Grantor Trusts. (a) The Depositor, as of the Closing Date, and concurrently with the execution and delivery hereof, does hereby assign without recourse all the right, title and interest of the Depositor in and to the Excess Interest to the Trustee for the benefit of the Holders of the Class V Certificates. The Trustee acknowledges the assignment to it of the Excess Interest and declares that it holds and will hold the same in trust for the exclusive use and benefit of all present and future Holders of the Class V Certificates. Concurrently with the assignment to the Trustee of the Excess Interest, and in exchange therefor, at the direction of the Depositor, the Trustee has executed, authenticated and delivered to or upon the order of the Depositor, the Class V Certificates in authorized denominations. The Class V Certificates are hereby designated as undivided beneficial interests in the portion of the Trust Fund consisting of Excess Interest and the Excess Interest Distribution Account (the "Excess Interest Grantor Trust"), which portion shall be treated as a "grantor trust" within the meaning of subpart E, Part I of subchapter J of the Code.
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Related to Designation of Grantor Trusts

  • Designation of REMIC(s) As provided in Section 10.03 of the Series Supplement.

  • Designation of Servicer 22 Section 8.2

  • Establishment and Designation of Sub-Trusts Without limiting the authority of the Trustees set forth in Section 4.1 to establish and designate any further Sub-Trusts and classes, the Trustees hereby establish and designate the following Sub-Trusts and classes thereof: “Xxxx Xxxxx Partners Capital and Income Fund,” “Xxxx Xxxxx Partners Convertible Fund” and “Xxxx Xxxxx Partners Dividend and Income Fund” which shall consist of five classes of shares designated as Class A, Class B, Class C, Class O and Class Y shares; “Xxxx Xxxxx Partners Diversified Strategic Income Fund,” “Xxxx Xxxxx Partners High Income Fund,” “Xxxx Xxxxx Partners Municipal High Income Fund” and “Xxxx Xxxxx Partners Total Return Bond Fund” which shall consist of four classes of shares designated as Class A, Class B, Class C and Class Y shares; and “Xxxx Xxxxx Partners Exchange Reserve Fund” which shall consist of two classes of shares designated as Class B and Class C shares. The Shares of such Sub-Trusts and classes thereof and any shares of any further Sub-Trusts or classes that may from time to time be established and designated by the Trustees shall (unless the Trustees otherwise determine with respect to some further Sub-Trust or class at the time of establishing and designating the same) have the following relative rights and preferences:” This Amendment shall be effective on April 21, 2006 at 5:00 p.m. EDT.

  • Designation of Beneficiaries The Executive may designate any person to receive any benefits payable under the Agreement upon the Executive’s death, and the designation may be changed from time to time by the Executive by filing a new designation. Each designation will revoke all prior designations by the Executive, shall be in the form prescribed by the Administrator and shall be effective only when filed in writing with the Administrator during the Executive’s lifetime. If the Executive names someone other than the Executive’s spouse as a Beneficiary, the Administrator may, in its sole discretion, determine that spousal consent is required to be provided in a form designated by the Administrator, executed by the Executive’s spouse and returned to the Administrator. The Executive’s beneficiary designation shall be deemed automatically revoked if the Beneficiary predeceases the Executive or if the Executive names a spouse as Beneficiary and the marriage is subsequently dissolved.

  • Designation of Series Pursuant to the terms hereof and Sections 201 and 301 of the Base Indenture, the Company hereby creates two series of Securities designated the “2.521% Guaranteed Notes due 2020” and the “3.535% Guaranteed Notes due 2024”, which Notes shall be deemed “Securities” for all purposes under the Base Indenture.

  • Designation of Trust and Certificates The Trust created hereby shall be known as the "Corporate Backed Trust Certificates, CIT Capital Trust I Securities-Backed Series 2003-9 Trust." The Certificates evidencing certain undivided ownership interests therein shall be known as "Corporate Backed Trust Certificates, CIT Capital Trust I Securities-Backed Series 2003-9." The Certificates shall consist of the Class A-1 Certificates and the Class A-2 Certificates (together, the "Certificates").

  • Designation of Startup Day The Closing Date is hereby designated as the "startup day" of each of REMIC I and REMIC II within the meaning of Section 860G(a)(9) of the Code.

  • Designation of Beneficiary Notwithstanding anything to the contrary contained herein or in the Plan, following the execution of this Award Agreement, you may expressly designate a beneficiary (the “Beneficiary”) to your interest, if any, in the Restricted Shares awarded hereby. You shall designate the Beneficiary by completing and executing a designation of beneficiary agreement substantially in the form attached hereto as Exhibit D (the “Designation of Beneficiary”) and delivering an executed copy of the Designation of Beneficiary to the Company.

  • Miscellaneous REMIC and Grantor Trust Provisions (a) The Class XX-0, Xxxxx XX-0, Class LA-3, Class LA-4, Class LA-AB, Class LA-S, Class LB, Class LC, Class LD, Class LE, Class LF, Class LG and Class LVRR Lower-Tier Regular Interests are hereby designated as “regular interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(1), and the Lower-Tier Residual Interest (evidenced by the Class R Certificates) is hereby designated as the sole class of “residual interests” in the Lower-Tier REMIC within the meaning of Code Section 860G(a)(2).

  • Designation of Start-up Day The Closing Date is hereby designated as the "start-up day" of each of the Upper-Tier REMIC and Lower-Tier REMIC within the meaning of Section 860G(a)(9) of the Code.

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