Class C Asset Backed Notes definition

Class C Asset Backed Notes. (the “Class C Notes”), “Class D Asset Backed Notes” (the “Class D Notes”) and “Class E Asset Backed Notes” (the “Class E Notes”) (and collectively with the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes and the Class E Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles, vans or light duty trucks (the “Receivables”), all monies due thereunder on or after the Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, title and interest of the Seller in and to the Purchase Agreement, dated as of June 16, 2021, between AmeriCredit Financial Services, Inc. and the Seller and all proceeds of the foregoing. The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable. Distributions on this Certificate will be made as provided in the Trust Agreement or any Basic Document by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Servicer on behalf of the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee in the Corporate Trust Office. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the hold...
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Class C Asset Backed Notes. (the "Class C Notes" and, together with the Class A Notes and the Class B Notes, the "Notes"), and the Swap Counterparty: GRANTING CLAUSE The Issuer hereby Grants to the Indenture Trustee at the Closing Date, as Indenture Trustee for the benefit of the Holders of the Notes and the Swap Counterparty, all of the Issuer's right, title and interest in, to and under, whether now owned or existing or hereafter acquired or arising:
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Class C Asset Backed Notes. (collectively, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the Owner of this Certificate by virtue of its acceptance hereof assents and by which such Owner is bound. The property of the Trust consists of a pool of retail installment sale contracts for new and used automobiles and light duty trucks (collectively, the “Receivables”), all monies received after October 31, 2009, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement and all proceeds of the foregoing. It is the intent of the Depositor, Chrysler Residual Holdco LLC (the “Company”), the Servicer, the Backup Servicer and the Certificateholder that, for purposes of federal income, state and local income and single business tax and any other income taxes, the Trust will be treated as a security arrangement for the issuance of debt by the Company. The Company, by acceptance of the Certificates, agrees to treat, and to take no action inconsistent with the above treatment for so long as the Company is the sole Owner. Solely in the event the Certificates are held by more than a single Owner, it is the intent of the Depositor, the Company, the Servicer, the Backup Servicer and the Certificateholders that, for purposes of federal income, state and local income and single business tax and any other income taxes, the Trust will be treated as a partnership and the Certificateholders (including the Company) will be treated as partners in the partnership. The Company and the other Certificateholders, by acceptance of a Certificate, agree to treat, and to take no action inconsistent with the treatment of, the Certificates for such tax purposes as partnership interests in the Trust. Each Certificateholder, by its acceptance of a Certificate covenants and agrees that such Certificateholder will not at any time institute against the Company, or join in any institution against the Company of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States federal or state bankruptcy or similar law in connection with any obligations relating to the Certificates, the Notes, the Trust Agreement or any of the Basic Documents. Reference is hereby made to the further pro...
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Examples of Class C Asset Backed Notes in a sentence

  • Concurrently with the issuance and sale of the Offered Notes as contemplated herein, the Issuer will issue $33,621,000 principal amount of Series 2011-1 Class B Asset Backed Notes (the “Series 2011-1 Class B Notes”) and $48,903,000 principal amount of Series 2011-1 Class C Asset Backed Notes (the “Series 2011-1 Class C Notes” and, together with the Series 2011-1 Class B Notes and the Offered Notes, the “Series 2011-1 Notes” or the “Notes”).

  • Santander Drive Auto Receivables LLC, a Delaware limited liability company (the “Seller” or “Depositor”) and Santander Consumer USA Inc., an Illinois corporation (“SCUSA”), confirm their agreement with X.X. Xxxxxx Securities LLC (the “Underwriter”) as follows: The Seller proposes to sell to the Underwriter the $97,200,000 3.06% Class C Asset Backed Notes (the “Notes”) issued by Santander Drive Auto Receivables Trust 2010-3, a Delaware statutory trust (the “Issuer”).

  • The sale of the Subsequent Receivables is described in the prospectus dated [Month Day], 200X and the prospectus supplement dated [Month Day], 200X (together, the “Prospectus”), which relates to the offering by the Trust of % Class A-1 Asset Backed Notes, % Class A-2 Asset Backed Notes, % Class A-3 Asset Backed Notes, floating rate Class A-4a Asset Backed Notes, % Class A-4b Asset Backed Notes, % Class B Asset Backed Notes and % Class C Asset Backed Notes (collectively, the “Notes”).


More Definitions of Class C Asset Backed Notes

Class C Asset Backed Notes. (herein called the "Class C Notes" or the "Notes"), all issued under an Indenture dated as of June 20, 1997 (such Indenture, as supplemented or amended, is herein called the "Indenture"), between the Issuer and Bankers Trust Company, a New York banking corporation, not in its individual capacity but solely as trustee (the "Indenture Trustee"), which term includes any successor Indenture Trustee under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Holders of the Notes. The Notes are subject to all terms of the Indenture. All terms used in this Note that are not otherwise defined herein and that are defined in the Indenture shall have the meanings assigned to them in or pursuant to the Indenture.
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Class C Asset Backed Notes. (the "Class C Notes" and, together with the Class A Notes and the Class B Notes, the "Notes"):
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Class C Asset Backed Notes. (the "Class C Notes") and 8.70% Class E Asset Backed Notes (the "Class E Notes" and, together with the Class A Notes, the Class B Notes, the Class C Notes, the Class D Notes, the "Notes"), are issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Noteholders. The Notes are subject to all terms of the Indenture. The Class D Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. The Class D Notes are subordinated in right of payment to the Class A Notes, Class B Notes and the Class C Notes, and senior in right of payment to the Class E Notes, as and to the extent provided in the Indenture.
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Related to Class C Asset Backed Notes

  • Asset Backed Notes (the "Class A-2 Notes"), Class A-3 4.30% Asset Backed Notes (the "Class A-3 Notes"), Class A-4 4.36% Asset Backed Notes (the "Class A-4 Notes" and, together with the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes, the "Class A Notes"), Class B 4.52% Asset Backed Notes (the "Class B Notes"), Class C 4.72% Asset Backed Notes (the "Class C Notes") and Class D 6.76% Asset Backed Notes (the "Class D Notes" and, together with the Class A Notes, the Class B Notes and the Class C Notes, the "Notes"), are issued under the Indenture, to which Indenture and all indentures supplemental thereto reference is hereby made for a statement of the respective rights and obligations thereunder of the Issuer, the Indenture Trustee and the Noteholders. The Notes are subject to all terms of the Indenture. The Class A-1 Notes are and will be equally and ratably secured by the collateral pledged as security therefor as provided in the Indenture. Interest on and principal of the Notes will be payable in accordance with the priority of payments set forth in Section 8.2 of the Indenture.

  • Class C Notes has the meaning assigned to such term in the Indenture.

  • Class B Notes means the Class B 5.03% Asset-Backed Notes substantially in the form of Exhibit B to the Indenture.

  • Asset-Backed Securities means securities which:

  • Class D Notes has the meaning assigned to such term in the Indenture.

  • MAC Notes The Classes of Modifiable And Combinable STACR® Notes shown on

  • Asset Backed Certificate (herein called the “Certificate”). Also issued under the Indenture, dated as of August 19, 2020, among the Trust and Xxxxx Fargo Bank, N.A., as trustee and trust collateral agent, are seven classes of Notes designated as “Class A-1 0.18952% Asset Backed Notes” (the “Class A-1 Notes”), “Class A-2-A 0.35% Asset Backed Notes” (the “Class A-2-A Notes”), “Class A-3 0.45% Asset Backed Notes” (the “Class A-3 Notes”), “Class A-4 0.58% Asset Backed Notes” (the “Class A-4 Notes” and together with the Class A-1 Notes, the Class A-2-A Notes and the Class A-3 Notes, the “Class A Notes”), “Class B 0.81% Asset Backed Notes” (the “Class B Notes”), “Class C 1.37% Asset Backed Notes” (the “Class C Notes”) and “Class D 1.91% Asset Backed Notes” (the “Class D Notes” and collectively with the Class A Notes, the Class B Notes and the Class C Notes, the “Notes”). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles, utility vehicles or light duty trucks (the “Receivables”), all monies due thereunder on or after the Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, all right, title and interest of the Seller in and to the Purchase Agreement, dated as of August 19, 2020, between GM Financial and the Seller and all proceeds of the foregoing. The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable. Distributions on this Certificate will be made as provided in the Trust Agreement or any Basic Document by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Servicer on behalf of the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee in the Corporate Trust Office. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. Unless the certificate of authentication hereon shall have been executed by an authorized officer of the Owner Trustee, by manual signature, this Certificate shall not entitle the holder hereof to any benefit under the Trust Agreement or the Sale and Servicing Agreement or be valid for any purpose. THIS CERTIFICATE SHALL BE GOVERNED BY AND CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICT OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.

  • Class A Notes means the Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes and the Class A-4 Notes.

  • Class A-5 Notes means the $_________ Floating Rate Class A-5 Student Loan Asset-Backed Notes issued by the Trust pursuant to the Indenture, substantially in the form of Exhibit A thereto.

  • Class C Note Principal Balance means, on any date of determination, an amount equal to (a) the Class C Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class C Noteholders on or prior to such date.

  • Class C Note Rate means 3.48% per annum.

  • Class C Note Initial Principal Balance means $18,948,000.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-1 Notes means the Class of Auto Loan Asset Backed Notes designated as Class A-1 Notes, issued in accordance with the Indenture.

  • Class C Note Interest Rate means a per annum rate of [ ]% [in excess of LIBOR as determined on the LIBOR Determination Date for the applicable Interest Period].

  • Class C Note Balance means, at any time, the Initial Class C Note Balance reduced by all payments of principal made prior to such time on the Class C Notes.

  • B Notes means each of Note B-1 and Note B-2.

  • Class A-2-A Notes has the meaning assigned to such term in the Indenture.

  • Class of Notes means each of the Classes of Notes being:

  • Initial Class C Note Balance means $152,941,000.

  • Term Notes means, collectively, the Term A Notes and the Term B Notes.

  • Mortgage-backed Securities means securities that are secured or otherwise backed by Mortgage Loans.

  • A Notes means each Note that has a designation starting with “A”, either individually or in the aggregate as the context may require.

  • Class A-1 Note Balance means, at any time, the Initial Class A-1 Note Balance reduced by all payments of principal made prior to such time on the Class A-1 Notes.

  • Class A-1 Note Interest Rate means a rate per annum equal to 0.64000%.