Class S Certificate definition

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-22 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 S Certificate means any of the Certificates with a "Class S" designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.

Class S Certificate. Any Certificate designated as a "Class S Certificate" on the face thereof, in the form of Exhibit A hereto, representing the right to distributions as set forth herein. For federal income tax purposes, the Class S Certificates represent the nine UTS Components each of which is a "regular interest" in the Upper Tier REMIC.

Examples of Class S Certificate in a sentence

• If a Holder of a Definitive Certificate (other than a Class S Certificate) wishes at any time to transfer such Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation S Book-Entry Certificate or the related Rule 144A Book-Entry Certificate, such transfer may be effected only in accordance with the Applicable Procedures, and this Section 5.02(b)(vi).

• No such transfer shall be made and the Certificate Registrar shall not register any such transfer unless such transfer is made in accordance with procedures substantially consistent with those set forth in Section 5.02(b)(v), provided, however, that any such transfer of a Class S Certificate shall be made only to a transferee that is a Qualified Institutional Buyer.

• Notwithstanding the foregoing, no opinion or certificate shall be required for the initial issuance of the ERISA-Restricted Certificates or any subsequent transfer of any Class PO or Class S Certificate by the Company.

• Except in connection with the transfer thereof by an Initial Purchaser or the Depositor, each prospective transferee of an ERISA Restricted Certificate, a Class S Certificate or a Class R Certificate in Non-Book Entry Certificate form shall deliver to the transferor, the Depositor, the Certificate Registrar, the Certificate Administrator and the Trustee representation letters, substantially in the form of Exhibit L-3 and Exhibit L-4 to this Agreement.

• The Certificate Administrator is under no obligation to determine whether the Holder of any Class S Certificate or other beneficial owner of a Class S Certificate, to the extent the Certificate Administrator knows of any other beneficial owner of a Class S Certificate, uses the cash or accrual method.

More Definitions of Class S 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-21 hereto and evidencing an undivided beneficial interest in the Class S Specific Grantor Trust Assets; provided that the Class S Certificate will not be issued unless the Trust Fund includes ARD Mortgage Loans on the Closing Date. If issued, the Class S Certificates have no Pass-Through Rate, Certificate Balance or Notional Amount. Because the Trust Fund will not include ARD Mortgage Loans as of the Closing Date, there will be no Class S Specific Grantor Trust Assets and the Class S Certificates will not be issued. Accordingly, all references in this Agreement to “Class S Certificate” and “Class S Certificates” shall be disregarded.

Class S Certificate. A Certificate designated as "Class S" on the face thereof, in the form of Exhibit A-26 hereto, and evidencing an undivided beneficial interest in the portion of the Grantor Trust consisting of the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof.

Class S Certificate. A Certificate executed and authenticated by the ------------------- Trustee in substantially the form set forth in Exhibit B hereto and designated as a Class S Certificate and evidencing ownership of interests designated as "regular interests" in the Trust REMIC for purposes of the REMIC Provisions.

Class S Certificate. Any one of the Certificates designated on the face thereof as a Class S Certificate, substantially in the form annexed hereto as Exhibit B-9, authenticated and delivered by the Trustee representing the right to distributions as set forth herein. The Class S Certificates are a "regular interest" in the REMIC.

Class S Certificate. Any of the Class I S or Class II S Certificates.

Class S Certificate. A Certificate designated as "Class S" on the face thereof, in the form of Exhibit A-18 hereto.

Class S Certificate on the face thereof, in the form of Exhibit A hereto, representing the right to distributions as set forth herein.