Securitization Trust Agreement Sample Clauses

Securitization Trust Agreement. Any Certificate Owner may obtain a copy of a Servicer's Certificate upon written request.
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Securitization Trust Agreement. Any person may obtain a copy of a Servicer's Certificate at no charge at the office of any Paying Agent or from the 1998-B Securitization Trustee upon written request, and the 1998-B Securitization Trustee shall have no obligation to determine whether such person is a Certificateholder.
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Securitization Trust Agreement. In the case of any Tax Event or Tax Event Upon Merger (as defined in the Swap Agreement), such notice shall specify that unless the 1998-C Securitization Trustee receives within 30 days of the date of publication of such notice the direction of Holders of at least 51% of the Voting Interests of the Class A Certificateholders and Adjustable Rate Class B Certificateholders (acting as a single Class) to elect to terminate the Swap Agreement and liquidate the assets of the 1998-C Securitization Trust, the 1998-C Securitization Trustee shall not designate an Early Termination Date (as defined in the Swap Agreement) and, accordingly, such event will not constitute a Termination Event. Upon the occurrence of (i) any Event of Default under the Swap Agreement arising from any action taken, or failure to act, by the Swap Counterparty, or (ii) a Termination Event under the Swap Agreement (except as described in the following sentence) with respect to which the Swap Counterparty is an Affected Party (as defined in the Swap Agreement), the 1998-C Securitization Trustee may and will, at the direction of 51% of the Voting Interest of the Certificateholders, by notice to the Swap Counterparty, designate an Early Termination Date with respect to the Swap Agreement. If a Termination Event under the Swap Agreement occurs (i) as a result of the insolvency or bankruptcy of the Transferor or (ii) because the 1998-C Securitization Trust or the Transferor becomes subject to registration as an "Investment Company" under the Investment Company Act of 1940, the 1998-C Securitization Trustee shall terminate the Swap Agreement. If the 1998-C Securitization Trustee or the Swap Counterparty elects to designate an Early Termination Date and thereafter to terminate the Swap Agreement and liquidate the assets of the 1998-C Securitization Trust, the 1998-C Securitization Trustee will specify in a further notice to the Class A Certificateholders the date elected, and shall also deliver such notice to the Luxembourg Stock Exchange. As soon as the 1998-C Securitization Trustee is reasonably able to do so, it will so publish and deliver a further notice to each such party specifying the date on which the net proceeds of such liquidation are to be allocated and applied or paid pursuant to Section 3.01(o). In the event that a Swap Termination occurs, whether because the 1998-C Securitization Trust elects to designate or receives appropriate direction from the relevant Certificateholders to design...
Sample 1
Securitization Trust Agreement. In the case of any Tax Event or Tax Event Upon Merger (as defined in the Swap Agreement), such notice shall specify that unless the 1998-C Securitization Trustee receives within 30 days of the date of publication of such notice the direction of Holders of at least 51% of the Voting Interests of the Class A Certificateholders (acting as a single Class) to elect to terminate the Swap Agreement and liquidate the assets of the 1998-C Securitization Trust, the 1998-C Securitization Trustee shall not designate an Early Termination Date (as defined in the Swap Agreement) and, accordingly, such event will not constitute a Termination Event. In the case of notice of any other such event as to which the 1998-C Securitization Trust has the option to designate an Early Termination Date under the Swap Agreement, such notice shall specify that unless otherwise directed by Holders of at least 51% of the Voting Interests of the Class A Certificateholders (acting as a single Class) within the time period specified in such notice (which time period shall be not more than 30 days from the date such notice is published or delivered by the 1998-C Securitization Trustee), the 1998-C Securitization Trustee, on behalf of the 1998-C Securitization Trust, will elect to designate an Early Termination Date under the Swap Agreement and thereafter to terminate the Swap Agreement and liquidate the assets of the 1998-C
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Related to Securitization Trust Agreement

  • Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company, and is a valid and binding agreement of the Company, enforceable against the Company, in accordance with its terms except as the enforceability thereof may be limited by bankruptcy, insolvency, or similar laws affecting creditors’ rights generally from time to time in effect and by equitable principles of general applicability.

  • Collateral Trust Agreement This Article 12 and the provisions of each other Security Document are subject to the terms, conditions and benefits set forth in the Collateral Trust Agreement. The Company consents to, and agrees to be bound by, the terms of the Collateral Trust Agreement, as the same may be in effect from time to time, and to perform its obligations thereunder in accordance with the terms therewith.

  • The Trust Agreement The Trust Agreement has been duly authorized, executed and delivered by the Company and constitutes a valid and legally binding obligation of the Company enforceable against the Company in accordance with its terms, except as enforceability may be limited by applicable bankruptcy, insolvency or similar laws affecting the enforcement of creditors’ rights generally or by equitable principles relating to enforceability.

  • Investment Management Trust Agreement The Company has entered into the Trust Agreement with respect to certain proceeds of the Offering and the Private Placement substantially in the form filed as an exhibit to the Registration Statement.

  • Custody of Trust Student Loan Files To assure uniform quality in servicing the Trust Student Loans and to reduce administrative costs, the Issuer hereby revocably appoints the Servicer, and the Servicer hereby accepts such appointment, to act for the benefit of the Issuer and the Indenture Trustee as custodian of the following documents or instruments (collectively the “Trust Student Loan Files”) which are hereby constructively delivered to the Indenture Trustee, as pledgee of the Issuer with respect to each Trust Student Loan:

  • of the Trust Agreement Subject to the terms of the Trust Agreement, the principal payable on this Class E Certificate shall be paid on each Payment Date during the term of the Trust Agreement, beginning on the Initial Payment Date. All payments of principal with respect to all of the Class E Certificates of a Series shall be made on a pro rata basis based upon the ratio that the Outstanding Principal Amount of a Class E Certificate bears to the Outstanding Principal Amount of all Class E Certificates of such Series; provided that, i -------- as a result of such proration a portion of such principal would be less than $0.01, then such payment shall be reduced to the nearest whole cent. In addition, the Certificate Prepayment Fee Amount, if any, shall be distributed on each Payment Date to the Holders of the Class E Certificates to the extent such Class is receiving a distribution of Prepaid Principal Amount on such date. All payments of Certificate Prepayment Fee Amounts with respect to the Class E Certificates shall be made prorata based upon the ratio of the Outstanding Principal Amount of this Certificate to the Outstanding Principal Amount of Class E Certificates of this Series, provided that if as a result of such proration, a portion of such payment would be less than $0.01, then such payment shall be reduce to the nearest whole cent. The interest and principal so payable on any Payment Date will, as provided in the Trust Agreement, be paid to the Person in whose name this Certificate is registered on the Record Date for such Payment Date, which shall be the close of business on the last day of the month prior to such Payment Date (whether or not a Business Day). The principal and interest on this Certificate are payable by wire transfer in immediately available funds to the account specified in writing to the Trustee by the Person whose name appears as the Registered Holder of this Certificate on the Certificate Register received at least five (5) Business Days prior to the Record Date for the Payment Date (or if no such account is specified or if such wire fails, by check mailed by first-class mail to the Person whose name appears as the Registered Holder of this Certificate on the Certificate Register at the address of such Person as it appears on the Certificate Register), in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Funds represented by checks returned undelivered will be held for payment to the Person entitled thereto, subject to the terms of the Trust Agreement, at the office or agency in the United States of America designated as such by the Depositor for such purpose pursuant to the Trust Agreement. The Depositor has structured the Trust Agreement and the Certificates with the intention that the Trust be treated as a partnership, with the assets of the partnership including all of the assets of the Trust Estate and the partners of the partnership being all of the Certificateholders and the Depositor. The Depositor, the Trustee, the Servicer and each Certificateholder, by acceptance of its Certificate (and any Person that is a beneficial owner of any interest in a Certificate, by virtue of such Person's acquisition of a beneficial interest therein), agree to report the transactions contemplated thereby in accordance with such stated intentions unless and until determined to the contrary by an applicable taxing authority. The property of the Trust Estate includes certain Loan Assets and certain other assets described in the Trust Agreement. The Class E Certificates of the 1999-1 Series and all other Series of Class E Certificates issued under the Trust Agreement are generally payable out of the Trust Estate pari passu among such Class E Certificateholders equally and ratably without prejudice, priority or distinction between any Class E Certificate by reason of time of issue or otherwise. The Class E Certificates are payable only out of the Trust Estate and do not represent recourse obligations of the Depositor, Allegiance Capital, LLC or any of their respective affiliates or successors. The Trust Agreement pursuant to which this Class E Certificate is issued also provides for the issuance of other Classes and Series of Certificates from time to time. Payments of interest on the Class E Certificates are senior to such payments on other Classes having a lower credit rating from the Rating Agency and are subordinate to payments of interest on any Classes having a higher credit rating form the Rating Agency. Payments of principal in the Class E Certificates are senior to payments of principal on other classes having a lower credit rating from the Rating Agency and are subordinate to such payments on any Class having a higher credit rating from the Rating Agency. Unless the Depositor exercises its Optional Termination rights, the Certificates are payable only at the time and in the manner provided in the Trust Agreement and are not redeemable or prepayable at the option of the Depositor before such time. As provided in the Trust Agreement and subject to certain limitations therein set forth, the transfer of this Certificate may be registered on the Certificate Register of the Depositor upon surrender of this Certificate for registration of transfer at the office or agency of the Depositor in the United States of America maintained for such purpose, duly endorsed by, or accompanied by a written instrument of transfer in form reasonably satisfactory to the Depositor and the Trustee and duly executed by the holder hereof or his attorney duly authorized in writing, and thereupon one or more new Class E Certificates of authorized denominations and for the same initial aggregate principal amount will be issued to the designated transferees. Prior to due presentment for registration of transfer of this Certificate, the Depositor, the Trustee and any agent of the Depositor or the Trustee shall treat the Person in whose name this Certificate is registered as the owner hereof for the purpose of receiving payment as herein provided and for all other purposes whether or not this Certificate be overdue, and neither the Depositor, the Trustee, nor any such agent shall be affected by notice to the contrary. The Holder of this Certificate, by acceptance of this Certificate, agrees that for one year and one day after it has been paid hereunder, it or any Affiliate thereof will not (without the consent of Holders holding at least 51% of all Rated Certificates, by Outstanding Principal Amount) file any involuntary petition or otherwise institute any bankruptcy, reorganization, arrangement, insolvency or liquidation proceeding or other proceeding under any federal or state bankruptcy or similar law against the Depositor. The Trust Agreement permits, with certain exceptions as therein provided, the amendment thereof and the modification of the rights and obligations of the Depositor and the rights of the Holders of the Certificates under the Trust Agreement at any time by the Depositor, the Trustee and the Servicer without the consent of the Holders of the Certificates. The Certificates are issuable only in registered form without coupons in such authorized denominations as provided in the Trust Agreement and subject to certain limitations therein set forth. This Class E Certificate and the Trust Agreement shall be governed by and construed in accordance with the internal laws of the State of New York, without regard to conflicts of laws principles. No reference herein to the Trust Agreement and no provision of this Class E Certificate or of the Trust Agreement shall alter or impair the obligation of the Trust Estate to pay the principal of and interest on this Class E Certificate, but solely from the assets of the Trust Estate at the times, place and rate, and in the coin or currency, herein prescribed.

  • Collection of Trust Student Loan Payments A. The Servicer shall make reasonable efforts (including all efforts that may be specified under the Higher Education Act or any Guarantee Agreement) to collect all payments called for under the terms and provisions of the Trust Student Loans as and when the same shall become due and shall follow such collection procedures as it follows with respect to similar student loans that it services on behalf of SLM Corporation or any of its Affiliates. The Servicer shall allocate collections with respect to the Trust Student Loans between principal, interest and fees in accordance with Section 2.5 of the Administration Agreement. The Servicer may in its discretion waive any late payment charge or any other fees that may be collected in the ordinary course of servicing a Trust Student Loan. The Servicer may, at its option, retain any late payment charges that it collects.

  • Successor Owner Trustees and Additional Owner Trustees 20 SECTION 9.1. Eligibility Requirements for Owner Trustee.............20 SECTION 9.2. Resignation or Removal of Owner Trustee................20 SECTION 9.3. Successor Owner Trustee................................21 SECTION 9.4. Merger or Consolidation of Owner Trustee...............21 SECTION 9.5. Appointment of Co-Trustee or Separate Trustee..........22 ARTICLE X. MISCELLANEOUS...................................................23

  • Servicing Agreement A Servicer Default shall have occurred and be continuing; or

  • Depositor Structured Asset Securities Corporation, a Delaware corporation having its principal place of business in New York, or its successors in interest.

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