Class RL Certificate definition

Class RL Certificate means the certificate substantially in the form attached hereto as Exhibit A-3.
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Class RL Certificate has the meaning set forth in the Trust Agreement.
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Class RL Certificate. Any one of the Class RL Certificates -------------------- executed, authenticated and delivered pursuant to Section 5.01, substantially in the form annexed hereto as Exhibit A-8, representing the right to distributions as set forth herein, and evidencing an interest designated as the "residual interest" in the Lower-Tier REMIC for the purposes of the REMIC Provisions.
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Examples of Class RL Certificate in a sentence

  • On the Closing Date, the Issuer will issue to the Trustor (and the Trustor will retain) those certain certificates designated the "Class R Certificate" and "Class RL Certificate" substantially in the forms set forth in Exhibits A-2 and A-3 hereto, respectively.

  • The Lower-Tier REMIC will issue the regular interests listed below (excluding the Class RL Certificate), each of which will be a "regular interest" in the Lower-Tier REMIC within the meaning of Section 860G(a)(1) of the Code (the "Lower-Tier Regular Interests").

  • Any remaining amounts will be distributed to the Class RL Certificate; provided however, no amounts will be distributed to the Class RL Certificate until the Maturity Date, except as provided in the following sentence.

  • Amounts, if any, the Indenture Trustee believes are otherwise distributable to the Class RL Certificate will be held in a reserve fund except to the extent that the Indenture Trustee is required by Code Section 860G(a)(7) and Treasury Regulation Section 1.860G-2(g) to reduce such reserve fund.

  • On the Closing Date, the Issuer will issue to the Trustor (and the Trustor will retain) those certain certificates designated the "Class R Certificate" and "Class RL Certificate" substantially in the forms set forth in Exhibits A- 2 and A-3 hereto, respectively.

  • Any remaining amounts will be distributed to the Class RL Certificate; provided however, no amounts will be distributed to the Class RL Certificate until theMaturity Date, except as provided in the following sentence.

  • Any remaining amounts will be distributed to the Class RL Certificate; provided, however, that no amounts will be distributed to the Class RL Certificate until the X-IO Maturity Date, except as provided in the following sentence.

  • On the Closing Date, the Issuer will issue to the Trustor (and the Trustor will retain) those certain certificates designated the "Class R Certificate" and "Class RL Certificate" substantially in the forms set forth in Xxxxxxxx X- 0 and A-3 hereto, respectively.

  • All capitalized terms used in this Class RL Certificate which are defined in the Trust Agreement shall have the meanings assigned to them in the Trust Agreement.

  • In the event of any conflict or inconsistency between this Class RL Certificate and the Trust Agreement, the Trust Agreement shall control in all respects.


More Definitions of Class RL Certificate

Class RL Certificate substantially in the forms set forth in Exhibits A-2 and A-3 hereto, respectively. The Class R and RL Certificates will constitute noneconomic residual interests under Treasury Regulations. Additionally, on the Closing Date, the Issuer will issue to the Trustor (and the Trustor will retain) the X-IO Interest, which will have no principal balance and will represent the entitlement on any Payment Date to the excess of (i) the amount payable in respect of the IO Q- REMIC Interest for such Payment Date over (ii) the Transfer Amount for such Payment Date. For federal income tax purposes, the X-IO Interest will represent ownership of the UT-XIO Regular Interest described in Section 2.22 of the Indenture.
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Class RL Certificate. Any one of the Certificates designated on the face thereof as a Class RL Certificate, substantially in the form annexed hereto as Exhibit A-RL, authenticated and delivered by the Trustee, representing the right to receive distributions as set forth herein, and evidencing an interest designated as the "residual interest" in the Lower-Tier REMIC for the purposes of the REMIC Provisions.
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Class RL Certificate. The uncertificated right to receive distributions as set forth herein, and evidencing an interest designated as the "residual interest" in the Lower-Tier REMIC for the purposes of the REMIC Provisions.
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Related to Class RL Certificate

  • Class R Certificate The Class R Certificate executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A and evidencing the ownership of the Class LT-R Interest and the residual interest in the Upper Tier REMIC.