Class B Ownership Interest definition

Class B Ownership Interest means, on any date of determination, an amount equal to (a) the Class B Initial Ownership Interest, minus (b) the aggregate amount of principal payments made to Class B Certificateholders prior to such date, minus (c) the aggregate amount of Class B Charge-Offs for all prior Transfer Dates pursuant to subsection 4.10(b), minus (d) the amount of Reallocated Principal Collections allocated pursuant to subsection 4.12(a) on all prior Transfer Dates for which the Class C Ownership Interest has not been reduced, minus (e) an amount equal to the amount by which the Class B Ownership Interest has been reduced on all prior Transfer Dates pursuant to subsection 4.10(a), and plus (f) the aggregate of the amounts deducted pursuant to the foregoing clauses (c), (d) and (e) deemed to have been reimbursed on all prior Transfer Dates pursuant to subsection 4.11(d); provided, however, that the Class B Ownership Interest may not be reduced below zero.
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Class B Ownership Interest. A Class B Member's Economic Interest and Management Right.
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Class B Ownership Interest. The ownership interest in the 199_-_ ---------------------------- Trust LLC designated as the Class B Ownership Interest.
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Examples of Class B Ownership Interest in a sentence

  • 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.

  • In the event that such reduction would cause the Class B Ownership Interest to be a negative number, the Class B Ownership Interest shall be reduced to zero and the Class A Ownership Interest shall be reduced (but not below zero) by the amount by which the Class B Ownership Interest would have been reduced below zero (a "Class A Charge-Off").

  • On each Distribution Date during the Rapid Amortization Period, if any, after the Class B Ownership Interest has been paid in full, in addition to Class C Monthly Interest, Available Investor Principal Collections with respect to such Distribution Date will be distributed to such Class C Certificateholders until the Class C Ownership Interest has been paid in full.

  • Upon the effectiveness of the Merger, (i) each Class A Unit of QGA was converted into one Series A Unit, and (ii) each Class B Ownership Interest in the Company was converted into Series A Units on the basis of one Series A Unit for each dollar of Redemption Amount associated with such Class B Ownership Interest, and upon such conversion each of the Members listed on Schedule I was issued the number of Series A Units opposite such Member’s name on Schedule I.

  • The Class A Ownership Interest shall then be reduced (but not below zero) by the amount of Reallocated Principal Collections in excess of the Class B Ownership Interest and the Class C Ownership Interest allocated thereto pursuant to Section 4.12.

  • In the event that such reduction would cause the Class C Ownership Interest to be a negative number, the Class C Ownership Interest will be reduced to zero and the Class B Ownership Interest (after giving effect to reductions therein for any Class B Charge-Offs and any Reallocated Principal Collections on such Transfer Date) shall be reduced by the amount by which the Class C Ownership Interest would have been reduced below zero.

  • United States Holocaust Memorial Museum, Holocaust Encyclopedia, “Voyage of the St. Louis,” https://encyclopedia.ushmm.org/content/en/article/voyage-of-the-st-louis.

  • On each Distribution Date during the Rapid Amortization Period, if any, after the Class A Ownership Interest has been paid in full, in addition to Class B Monthly Interest, Available Investor Principal Collections with respect to such Distribution Date will be distributed to such Class B Certificateholders until the Class B Ownership Interest has been paid in full.

  • The owners of the Class B Ownership Interest, Residential Funding Corporation, a Delaware corporation, and Mortgage Assets Trading, Inc., a Delaware corporation, each in their capacities as Members of the Company.

  • The Parties also agree that of such $2,431,863.65, $431,683.65 will be paid by Genesis GP to the Subject Member upon closing of the Sale Transaction and only the portion of the Class B Ownership Interest related to that amount will be redeemed by Genesis GP.

Related to Class B Ownership Interest

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

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

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

  • 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.

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

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

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

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

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

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

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

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

  • Class B LP Units means, collectively, the Class B limited partnership units of the Partnership, and “Class B LP Unit” means any one of them.

  • 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.

  • Economic Interest means a Person’s right to share in the income, gains, losses, deductions, credits, or similar items of the Company, and to receive Distributions from the Company, but excluding any other rights of a Member, including the right to vote or to participate in management, or, except as may be provided in the Act, any right to information concerning the business and affairs of the Company.

  • Lower Tier Interest As described in the Preliminary Statement.

  • 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 Percentage Interest means, with respect to a Class B Member as of a given date, that percentage obtained by dividing the total number of Class B Units owned by such Member by the total number of Class B Units issued and outstanding.

  • 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 R-III Certificate Any one of the Class R-III 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 III for purposes of the REMIC Provisions.

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

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

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