Class A Ownership Interest definition

Class A Ownership Interest is defined in Section 1(c) of this Series Supplement.
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Class A Ownership Interest. The Class A Member's Economic Interest and Management Right.
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Class A Ownership Interest means, on any date of determination, an amount equal to (a) the Class A Initial Ownership Interest, minus (b) the aggregate amount of principal payments made to Class A Certificateholders prior to such date, minus (c) the aggregate amount of Class A Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(a), minus (d) the amount of Reallocated Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Class B Ownership Interest and the Class C Ownership Interest have not been reduced and plus (e) the aggregate of the amounts deducted pursuant to the foregoing clauses (c) and (d) deemed to have been reimbursed on all prior Transfer Dates pursuant to subsection 4.11(c); provided, however, that the Class A Ownership Interest may not be reduced below zero.
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Examples of Class A Ownership Interest in a sentence

  • The transfer by Residential Funding Mortgage Securities II, Inc., upon the execution of this Company Agreement, of its entire Class A Ownership Interest to the Trust, and the admission of the Trust as a Substitute Member, as provided in Section 11.7.

  • The Indenture Trustee does not have notice of any adverse claim (as such terms are used in Delaware UCC Section 8-302) with respect to the Class A Ownership Interest.

  • The Members hereby consent to the pledge by the Trust of the Class A Ownership Interest to the Indenture Trustee pursuant to the Indenture.

  • In the event of any request made to the Issuer, as the Class A Ownership Interest Holder, for consent to any transfer of any interest in any portion of the Class B Ownership Interest, the Owner Trustee shall respond to such request in its discretion on behalf of the Issuer and shall not be required to consult with the Certificateholders or the Indenture Trustee.

  • The amount of such proceeds allocable to the Class A Ownership Interest shall be deposited into the Payment Account for distribution in accordance with Section 5.04(b) of the Indenture.

  • The Issuer shall not engage in any business other than financing, purchasing, owning and selling and managing the Class A Ownership Interest and the issuance of the Notes and Certificates in the manner contemplated by this Indenture and the Basic Documents and all activities incidental thereto.

  • On the Business Day prior to each Payment Date, (i) amounts deposited into the Distribution Account pursuant to Section 3.03(i) hereof will be distributed by the Master Servicer in accordance with Section 9.5 of the Operating Agreement, and (ii) the portion of such amounts then distributable with respect to the Class A Ownership Interest in accordance with Section 9.5 of the Operating Agreement shall be deposited into the Payment Account.

  • Such Opinion of Counsel shall also describe the recording, filing, re-recording and refiling of this Indenture, any indentures supplemental hereto and any other requisite documents and the execution and filing of any financing statements and continuation statements that will, in the opinion of such counsel, be required to maintain the lien and security interest in the Class A Ownership Interest until December 31 in the following calendar year.

  • It is intended that, by the Master Servicer's acceptance of such agency pursuant to Section 3.02 of the Servicing Agreement, the Indenture Trustee, as a pledgee of the Class A Ownership Interest, will be deemed to have possession of such Related Documents, such monies and such other items for purposes of Section 9-305 of the Uniform Commercial Code of the state in which such property is held by the Master Servicer.

  • The portion of the Optional Amortization Amount allocated to any Class A Ownership Interest shall be in an aggregate amount not less than $3,000,000 or integral multiples of $100,000 in excess thereof, except that the portion of the Optional Amortization Amount allocated to any Class A Ownership Interest may equal the entire Class A Funded Amount of the related Class A Certificate.

Related to Class A Ownership Interest

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Residual Ownership Interest Any record or beneficial interest in the Class R Certificates.

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Lower Tier Interest As described in the Preliminary Statement.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Indirect Ownership Interest means an ownership interest in an entity that has an ownership interest in another entity. Indirect ownership interest includes an ownership interest in an entity that has an indirect ownership interest in another entity.

  • Class A Interests means the Units purchased by the Class A Members. The Class A Interests shall comprise sixty-five percent (65%) of the total Interests sold. Class A Percentage Interest shall be determined by calculating the ratio between each Class A Member’s Capital Account in relation to the total capitalization of the Company provided by the Class A Members.

  • Class LT-R Interest The residual interest in the Lower-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class UT-R Interest The residual interest in the Upper-Tier REMIC as described in the Preliminary Statement and the related footnote thereto.

  • Class A LP Units means the Class A limited partnership units of the Partnership.

  • Class P Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class P Certificates, evidencing a Regular Interest in REMIC III for purposes of the REMIC Provisions.

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.

  • Class A Interest Each of the Class A-1 and Class A-2 Interests.

  • Ownership Interests means, with respect to any Person, all of the shares of Capital Stock of such Person and all debt securities of such Person that can be converted or exchanged for Capital Stock of such Person, whether voting or nonvoting, and whether or not such Capital Stock or debt securities are outstanding on any date of determination.

  • Class R-II Certificate Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions.

  • Class B Interests As set forth in the Trust Agreement.

  • Class C Interest An uncertificated interest in the Trust Fund held by the Trustee on behalf of the Holders of the Class C Certificates, evidencing a Regular Interest in REMIC 3 for purposes of the REMIC Provisions.

  • Controlling ownership interest means ownership of or entitlement to more than twenty-five percent of shares or capital or profits of the company;

  • Lower Tier REMIC Interests Each of the Class LTA-1 Interest, the Class LTA-2A Interest, the Class LTA-2B Interest, the Class LTA-2C Interest, the Class LTA-2D Interest, the Class LTM-1 Interest, the Class LTM-2 Interest, the Class LTM-3 Interest, the Class LTM-4 Interest, the Class LTM-5 Interest, the Class LTM-6 Interest, the Class LTB-1 Interest, the Class LTB-2 Interest, the Class LTB-3 Interest, the Class LTIX Interest, the Class LTIIX Interest, the Class LTII1A Interest, the Class LTII1B Interest, the Class LTII2A Interest, the Class LTII2B Interest, the Class LT-IO Interest and the Class LTR Interest.

  • Class X Interest The regular interest in the Class X REMIC represented by the Class X Certificates as specified and described in the Preliminary Statement and the related footnote thereto.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.