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

  • Each Certificateholder of a Class RL Certificate or Class R Certificate will pay when due any and all taxes imposed on the related REMIC or REMICs, as applicable, by federal or state governmental authorities.

  • 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.

  • As set forth in Section 2.22 of the Indenture, the Class RL Certificate will represent the sole class of "residual interests" in the Lower-Tier REMIC, the Class R Certificate will represent the sole class of "residual interests" in the Upper- Tier REMIC, and an uncertificated interest in the Issuer, designated the "X-IO Interest," will represent beneficial ownership of a "regular interest" in the Upper-Tier REMIC.

  • 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").

  • As set forth in Section 2.23 of the Indenture, the Class RL Certificate will represent the sole class of "residual interests" in the Lower-Tier REMIC, the Class R Certificate will represent the sole class of "residual interests" in the Upper- Tier REMIC, and an uncertificated interest in the Issuer, designated the "X-IO Interest," will represent beneficial ownership of a "regular interest" in the Upper-Tier REMIC.

  • As set forth in Section 2.23 of the Indenture, the Class RL Certificate will represent the sole class of "residual interests" in the Lower-Tier REMIC, the Class R Certificate will represent the sole class of "residual interests" in the Upper-Tier REMIC, and an uncertificated interest in the Issuer, designated the "X-IO Interest," will represent beneficial ownership of a "regular interest" in the Upper-Tier REMIC.

  • 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 Certificates, other than the Class RL Certificate, shall be issued by the Upper-Tier REMIC, and the Class RL Certificate shall be issued by the Lower-Tier REMIC.

  • The Certificates, other than the Class RL Certificate, shall be issued by the Upper Tier REMIC, and the Class RL Certificate shall be issued by the Lower Tier REMIC.

  • It is expected that there shall not be any distributions on the Class RL Certificate.


More Definitions of Class RL Certificate

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 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. 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 L Certificate means any of the Certificates with a "Class L" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class R-X Certificate Any one of the Class R-X Certificates executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-R-X and evidencing the ownership of the Class R-IV Interest, the Class R-V Interest and the Class R-VI Interest.

  • Class J Certificate means any one of the Certificates with a "Class J" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Class R-1 Certificate Any Certificate designated a “Class R-1 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC I and representing the right to the Percentage Interest of distributions provided for the Class R-1 Certificates as set forth herein.

  • Class SB Certificate Any one of the Certificates designated as a Class SB Certificate. Class X Certificate: Any one of the Certificates designated as a Class X Certificate.

  • 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 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.

  • 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 H Certificate means any of the Certificates with a "Class H" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class A-P Certificate Any one of the Certificates designated as a Class A-P Certificate.

  • Class S Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-18 hereto and evidencing an undivided beneficial interest in the Class S Specific Grantor Trust Assets. The Class S Certificates have no Pass-Through Rate, Certificate Balance or Notional Amount.

  • Class A-V Certificate Any one of the Certificates designated as a Class A-V Certificate, including any Subclass thereof.

  • Class P Certificate Any one of the Class P Certificates executed and authenticated by the Securities Administrator and delivered by the Trustee, substantially in the form annexed hereto as Exhibit A-5 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

  • Class A-8 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-8 and Exhibit C hereto.

  • Class A-R Certificate The Certificate executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-R and Exhibit C hereto.

  • Class B-6 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-6 and Exhibit C hereto. Class B-6 Certificateholder: The registered holder of a Class B-6 Certificate.

  • Class A-SB Certificate Any one of the Certificates with a “Class A-SB” designation on the face thereof, substantially in the form of Exhibit A-1 attached hereto, and evidencing a portion of a class of “regular interests” in REMIC III for purposes of the REMIC Provisions.

  • Class A-6 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-6 and Exhibit C hereto.

  • Class A-S Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-8 hereto.

  • Class A-7 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-7 and Exhibit C hereto.

  • Class K Certificate means any of the Certificates with a "Class K" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

  • Class C Certificate Any one of the Certificates with a “Class C” designation on the face thereof, substantially in the form of Exhibit A-1 attached hereto, and evidencing a portion of a class of “regular interests” in REMIC III for purposes of the REMIC Provisions.

  • 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.

  • Class A-AB Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-5 hereto.

  • Class B Certificate Any one of the Certificates designated as a Class B-1 Certificate, Class B-2 Certificate or Class B-3 Certificate.