Examples of Class B-2 Certificateholder in a sentence
Early retirement of the Subsidiary Regular Interest Certificates may be effected by a repurchase of the Mortgage Loans and related property in the Subsidiary Trust Fund by the Holder of the Subsidiary Residual Interest Certificate pursuant to a repurchase right similar to that provided to the Class B-2 Certificateholder.
The Agreement permits, but does not require, the Class B-2 Certificateholder to make such purchase on any Distribution Date, subject to the condition that the aggregate Principal Balance of the outstanding Subsidiary Regular Interest Certificates at the time of purchase is less than 10% of the aggregate Principal Balance of the Subsidiary Regular Interest Certificates on the Cut-off Date.
The Class B-2 Certificateholder shall be the "tax matters partner" (within the meaning of the Code) with respect to the Master Trust Fund.
Upon such inventory and verification, Seller shall deliver, or cause Manager to deliver, to Purchaser all keys, receipts and agreements for each such safe deposit box (and thereafter each such safe deposit box shall be deemed an “Inventoried Safe Deposit Box”), which, in the alternative and at the direction of Purchaser, may be retained by Manager pursuant to the New Management Agreement Documents.
In the event such notice is given, the Master Servicer upon receipt from the Subsidiary Residual Interest Holder or the Class B-2 Certificateholder, as the case may be, shall deposit in the Certificate Account or the Master Distribution Account, as the case may be, on the applicable Distribution Date an amount equal to the final distribution in respect of the Certificates of the applicable Trust Fund.
The Class B-2 Certificateholder shall give notice to the Master Servicer and the Master Servicer shall give notice to the Rating Agency of the Class B-2 Certificateholder's election to purchase the Subsidiary Regular Interest Certificates pursuant to this Section 15.02 and of the Optional Termination Date.
The Class B-2 Certificateholder may, at its option, repurchase from the Master Trust Fund all Subsidiary Regular Interest Certificates remaining outstanding on any Distribution Date on or after the date on which the aggregate Principal Balances of such Certificates is less than 10% of the aggregate Scheduled Principal Balances on the Cut-off Date in the manner and at the repurchase price provided in Article XV.
Upon certification to the Trustee by a Servicing Officer following such final deposit with respect to the Subsidiary Trust Fund or the Master Trust Fund, the Trustee shall promptly release to the subsidiary Residual Interest Holder the Mortgage Files for the Mortgage Loans or to the Class B-2 Certificateholder the assignment of the Subsidiary Regular Interest Certificates, respectively.
Amounts held by the Master Servicer or the Trustee for future distribution to the Class B-1 Certificateholders and the Class B-2 Certificateholder, including, without limitation, in the Master Distribution Account, shall not be distributed in respect of the Class B-1 Certificates or the Class B-2 Certificate, except in accordance with the terms of this agreement.
The Class B-1 Certificateholders and the Class B-2 Certificateholder are deemed to have granted a security interest in such rights to the Class A Certificateholders to secure the rights of the Class A Certificateholders to receive distributions in priority over the Class B-1 Certificateholder and the Class B- 2 Certificateholder.