Qualified Liquidation Sample Clauses

Qualified Liquidation. The Provisions of this Article X are subject to the requirement that any termination shall be a “qualified liquidation” of each associated REMIC unless 100% of the affected holders of interests in each such REMIC have consented to waive such requirements. For this purpose “affected holders” shall mean each holder of a regular or residual interest which would likely receive a smaller amount in final distributions if the termination were not a “qualified liquidation” and REMIC owed taxes as a result hereof.
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Qualified Liquidation. 80 Section 10.02 Termination.............................................................................80 Section 10.03
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Qualified Liquidation. Upon notice that the Underlying Redeemable Certificate will be redeemed, the Trustee shall, with respect to Lower Tier REMIC II, adopt a plan of complete liquidation that shall result in the “qualified liquidation” of Lower Tier REMIC II within the meaning of Section 860F(a)(4) of the Code and Treasury regulations promulgated thereunder. In connection with such qualified liquidation, the Trustee shall specify the day the Trustee receives notice of the redemption as the first day of the 90-day liquidation period. The Trustee shall transfer all the assets of Lower Tier REMIC II, including the Underlying Redeemable Certificate, pursuant to such qualified liquidation.
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Qualified Liquidation. For purposes of this part--
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Qualified Liquidation. 68 Section 10.02 Termination 68 Section 10.03 Procedure for Termination 69 Section 10.04 Additional Termination Requirements 70
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Qualified Liquidation. The termination of the GMC REMIC on the Guaranteed Maturity Date is intended to constitute a “qualified liquidation” of the GMC REMIC within the meaning of Section 860F(a)(4) of the Code. In connection therewith, Xxxxxx Xxx, as Trustee of the GMC REMIC, shall adopt a plan of complete liquidation, shall designate the first day of the month of the Guaranteed Maturity Date as the first day of the 90-day liquidation period, and shall cause the statement specified in Treasury Regulation section 1.860F-1 to be attached to the final tax return of the GMC REMIC. The Trustee shall distribute all assets of the GMC REMIC pursuant to such qualified liquidation.” EXHIBIT A MORTGAGE-BACKED SECURITY SCHEDULE EXHIBIT B
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Qualified Liquidation. The termination of the Upper Tier REMIC on the Guaranteed Maturity Date is intended to constitute a “qualified liquidation” of the Upper Tier REMIC within the meaning of Section 860F(a)(4) of the Code. In connection therewith, Xxxxxx Xxx, as Trustee of the Upper Tier REMIC, shall adopt a plan of complete liquidation, shall designate the first day of the month of the Guaranteed Maturity Date as the first day of the 90- day liquidation period, and shall cause the statement specified in Treasury Regulation section 1.860F-1 to be attached to the final tax return of the Upper Tier REMIC. The Trustee shall distribute all assets of the Upper Tier REMIC pursuant to such qualified liquidation.
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Related to Qualified Liquidation

  • Cash Liquidation 7 Certificate...................................................................7

  • Orderly Liquidation A reasonable time shall be allowed for the orderly liquidation of the assets of the Company and the discharge of liabilities to creditors so as to enable the Members to minimize the losses normally attendant upon a liquidation.

  • Liquidation Event 22- Liquidation Proceeds................................................................-22- Loan-to-Value Ratio.................................................................-22-

  • Deferred Liquidation Notwithstanding the provisions of Section 13.2.A which require liquidation of the assets of the Partnership, but subject to the order of priorities set forth therein, if prior to or upon dissolution of the Partnership the Liquidator determines that an immediate sale of part or all of the Partnership’s assets would be impractical or would cause undue loss to the Partners, the Liquidator may, in its sole and absolute discretion, defer for a reasonable time the liquidation of any assets except those necessary to satisfy liabilities of the Partnership (including to those Partners as creditors) or distribute to the Partners, in lieu of cash, as tenants in common and in accordance with the provisions of Section 13.2.A, undivided interests in such Partnership assets as the Liquidator deems not suitable for liquidation. Any such distributions in kind shall be made only if, in the good faith judgment of the Liquidator, such distributions in kind are in the best interest of the Partners, and shall be subject to such conditions relating to the disposition and management of such properties as the Liquidator deems reasonable and equitable and to any agreements governing the operation of such properties at such time. The Liquidator shall determine the fair market value of any property distributed in kind using such reasonable method of valuation as it may adopt.

  • Excess Liquidation Proceeds 35 FDIC..........................................................................................35 FHA...........................................................................................35

  • Distribution of Liquidation Proceeds Subject to the terms and conditions hereof, the Administrative Agent shall distribute all Liquidation Proceeds in the order and manner set forth below:

  • Distributions Upon Liquidation Proceeds from a Terminating Capital Transaction and any other cash received or reductions in reserves made after commencement of the liquidation of the Partnership shall be distributed to the Partners in accordance with Section 13.2.

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