Examples of Class R Interest in a sentence
The Class R Interest Holder has no legal title to any Trust Property.
The Class R Interest Holder will receive distributions only as set forth in Section 8.2 and Section 8.3(g)(iii) of this Indenture.
The Class R Interest is being acquired on the date hereof by the True-up Trust, as the initial Class R Interest Holder, as nominee of the Originators.
Under the Trust Agreement, the Trust has appointed the Owner Trustee to be the Trust Registrar for the Class R Interest.
At the direction of the Trust, the Class R Interest is being created hereunder as an interest in Series 2024-5 having the rights set forth in this Indenture and the Trust Agreement.
The Class R Interest Holder will receive any Series 2024-5 Available Funds not needed on a Payment Date to pay the Notes and the Trust’s other obligations as set forth in Section 8.2 of this Indenture.
The Class R Interest Holder will be the Person registered as the holder of the Class R Interest on the Trust Register.
The Class R Interest Holder, if it wishes to transfer the Class R Interest, shall notify the Trust Registrar in writing of such transfer and identify the new Class R Interest Holder.
On any Payment Date, to the extent the sum of the amount on deposit in the Reserve Account plus the amount available under any Letter of Credit exceeds the Required Reserve Amount on any Payment Date, the amount of such excess may be released from the Reserve Account and paid to the Class R Interest on such Payment Date.
The Class R Interest Holder will be permitted to sell, transfer, assign or convey its rights in the Class R Interest upon satisfaction of the requirements applicable to transfers of the Certificates set forth in Section 3.3 of the Trust Agreement mutatis mutandis, subject to the requirements of Section 11.7 of this Indenture.