Class X definition

Class X means Shares that have been designed to accommodate an alternative charging structure whereby instead of an annual management fee charge to the Fund, the investor is invoiced directly by the ACD as set out in the agreement between the ACD and each Eligible Shareholder.

Class X. Any one of the Class X Certificates as designated on the face thereof substantially in the form annexed hereto as Exhibit C-4, executed by the Trustee on behalf of the Trust and authenticated and delivered by the Certificate Registrar, representing the right to distributions as set forth herein and therein.

Class X. Class R-I," "Class R-II" and "Class R-III" respectively, on the face thereof, in substantially the form attached hereto as Exhibits.

Examples of Class X in a sentence

• The beneficial owners of the Excess Reserve Fund Account are the Class X Certificateholders.

• The Depositor hereby directs the Trustee to register the Class X and Class P Certificates in the name of the Depositor or its designee.

• For all federal tax purposes, amounts transferred by the Upper Tier REMIC to the Excess Reserve Fund Account shall be treated as distributions by the Trustee to the Class X Certificateholders.

• The portion of any Excess Prepayment Interest Shortfall for any Distribution Date so allocable to a Class of Class X Certificates shall, in turn, be allocated among the various Components of such Class of Class X Certificates, pro rata, based upon the respective amounts of Accrued Component Interest with respect to such Components for such Distribution Date.

• Any net investment earnings on such amounts shall be payable to the holders of the Class X Certificates.

• All distributions made in respect of interest on any Class of the Class X Certificates on each Distribution Date pursuant to Section 4.01(b) or Section 9.01, and allocable to any particular Component of such Class of Certificates in accordance with the last paragraph of Section 4.01(b), shall be deemed to have first been distributed from the Lower-Tier REMIC to the Upper-Tier REMIC as interest in respect of such Component’s Corresponding Lower-Tier Regular Interest.

• The Class X Certificates shall evidence ownership of the Basis Risk Reserve Fund for federal income tax purposes and LBH on behalf of the Holder thereof shall direct the Trustee, in writing, as to investment of amounts on deposit therein.

• The Class X Certificateholders shall be liable for any losses incurred on such investments.

• The beneficial owners of the Swap Account are the Class X Certificateholders.

• Any amounts not so applied shall, following the termination or expiration of such Swap Agreement, be paid to the Class X Certificates.

More Definitions of Class X

Class X. Class X-Y," "Class B," "Cxxxx X," "Xxxxx D," "Class E," "Class F," "Class G," "Class H," "Class J," "Class K," "Class L," "Class M," "Class N," "Class O," "Class P," "Class EI," "Class R-I," "Class R-II" and "Class R-III," respectively, on the face thereof, in substantially the form attached hereto as Exhibits A-1 through A-27.

Class X means either Class A, Class B, Class C or Class D. “Mid-point Recovery Value” is calculated based on the relevant In-scope Creditors’ claims multiplied by the Mid-Point Recovery Rate, where: "Mid-point Recovery Rate" means average of (a) weighted average liquidation recovery rate in the high case scenario (“High Case Recovery Rate”) and (b) weighted average liquidation recovery rate in the low case scenario (“Low Case Recovery Rate”), of the relevant In-scope Creditors’ claims provided in the liquidation analysis report prepared by an independent liquidation analysis service provider (the “Independent Liquidation Analysis Service Provider”). The Class Allocation Ratio for each class of In-scope Creditors is set out in the table below. The Class Allocation Ratio for each class of In-scope Creditors may be modified according to the final liquidation analysis report prepared by the Independent Liquidation Analysis Service Provider (the “Liquidation Analysis Report”), provided that the New Debts offered to Class A Creditors shall be no less than US$1,315 million and the New Debts offered to Class A Creditors, Class B Creditors, Class C Creditors and Class D Creditors shall be adjusted accordingly in proportion to the Class Allocation Ratio for each class as modified by the Liquidation Analysis Report. Exchange Rate For purpose of calculating the In-scope Creditors’ claims and the Restructuring Consideration, 1.00 U.S. dollar shall be translated at a fixed rate of 7.82 Hong Kong dollars.

Class X means pertaining to each Class of Class A Certificates, Class M Certificates, Class B and/or Class X Certificates, as the case may be.

Class X means Shares that hav e been designated to accommodate an alternativ e charging structure whereby instead of an annual management fee charged to the Fund, the Shareholder is invoiced directly by the ACD as set out in the agreement betw een the ACD and each Eligible Shareholder.

Class X. ’ means either Class A, Class B, Class C or Class D.