Fundings by Certificateholders Sample Clauses
The 'Fundings by Certificateholders' clause defines the circumstances and procedures under which holders of certificates are required or permitted to provide additional funds to the entity or trust. Typically, this clause outlines the triggers for such funding, the method by which certificateholders are notified, and the proportionate amounts each holder must contribute based on their ownership interests. Its core practical function is to ensure that the entity has access to necessary capital from its investors when certain conditions arise, thereby maintaining liquidity or meeting specific financial obligations.
Fundings by Certificateholders. (a) Upon the issuance of each Series of Class A Certificates and execution of a Certificate Purchase Agreement on the related Delivery Date, the initial Class A Certificateholders shall have agreed, and by their acquisition of any Class A Certificates and execution of an Investment and Assumption Letter after the applicable Delivery Date any subsequent Class A Certificateholders shall have agreed, on the terms and conditions set forth herein and in the related Certificate Purchase Agreement, to make Fundings to the Transferor on the Delivery Date and from time to time thereafter on any Funding Date during the Funding Period, as specified by the Transferor in accordance with Section 3.05(c) below. On the related Delivery Date, a Funding shall take place under the Fixed Rate Tranche of such Series in the amount equal to any Initial Funding Amount for such Series. Each subsequent Funding shall take place under the Floating Rate Tranche in an amount equal to the applicable Funding Amount; provided, however, unless otherwise specified in the related Supplement, for each calendar month, the aggregate of the Fundings, including the Initial Funding Amount for such Series, during such month shall be in a minimum amount equal to the Minimum Monthly Amount and in a maximum amount equal to the Maximum Monthly Amount. The aggregate amount of all Fundings under any Series shall not exceed the Maximum Series Limit.
(b) Except for the Initial Funding on the related Delivery Date and the Funding described in Section 3.08 hereof, the Fundings shall be allocated to the Floating Rate Tranche of the applicable Series until converted pursuant to clause (f) below. Each Series of Class A Certificates shall be issued in an aggregate principal amount equal to the Maximum Series Amount, although at any one time the Outstanding Principal Balance may be less than the Maximum Series Amount for such Series. The Class A Certificateholders shall endorse on a schedule, which shall be attached to each Class A Certificate, the date and amount of each Funding made by such Class A Certificateholder with respect to the related Series and the amount of each payment of principal made by the Transferor with respect thereto; provided, however, that the Class A Certificateholders may, at their option, record the amount of their respective Fundings in other internal records rather than on such a schedule. The Class A Certificateholders are authorized and directed by the Transferor and MBIA to make su...
Fundings by Certificateholders. 35 Section 3.06 Calculation of Rates; Conversions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 37 Section 3.07 Appointment of Certificate Funding Administrator . . . . . . . . . . . . . . . . . . . . . . . . . . 37 ARTICLE FOUR . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 ISSUANCE OF CERTIFICATES; SUBSTITUTIONS OF COLLATERAL . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Section 4.01 Conditions to Initial Issuance of Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Section 4.02 Issuances of Additional Series of Certificates . . . . . . . . . . . . . . . . . . . . . . . . . . . 40 Section 4.03 Perfection of Transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43 Section 4.04 Substitution, Removal and Purchase of Lease Assets . . . . . . . . . . . . . . . . . . . . . . . . . 44 Section 4.05 Releases . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 45 Section 4.06 Trust Estate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 Section 4.07 Notice of Release . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 Section 4.08 Nature of Transfer . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 46 i 3 ARTICLE FIVE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 47
Fundings by Certificateholders. 29 Section 3.04. Re-underwriting..........................................30 ARTICLE FOUR ISSUANCE OF CERTIFICATES; SUBSTITUTIONS OF COLLATERAL..........31 Section 4.01. Conditions to Issuance of Certificates...................31
Fundings by Certificateholders. (a) Upon the issuance of each Series of Certificates and execution of a Certificate Purchase Agreement with respect thereto, the initial Certificateholders shall have agreed, and by their acquisition of any Certificates and execution of an Investment and Assumption Letter after the applicable Delivery Date any subsequent Certificateholders shall have agreed, on the terms and conditions set forth herein and in the related Certificate Purchase Agreement, to make Fundings to the Transferor on the Delivery Date and