Class X-1 Certificate definition

Class X-1 Certificate. Any of the Certificates with a "Class X-1" 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.

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Class X-1 Certificate. Any of the Class X-1 Certificates as designated on the face thereof, executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-2, evidencing the ownership of a “regular interest” in the Upper Tier REMIC created hereunder and representing the right to distributions as set forth herein and therein.

Class X-1 Certificate. Any Certificate designated as a “Class X-1 Certificate” on the face thereof, in the form of Exhibit A-3 hereto, representing the right to its Percentage Interest of distributions provided for the Class X-1 Certificates as set forth herein.

Examples of Class X-1 Certificate in a sentence

This Class X-1 Certificate has no principal balance and will not receive any distribution of principal.
For purposes of the preceding sentence, with respect to an ERISA-Restricted Certificate that is not a Class P Certificate, Class X Certificate, Class X-1 Certificate or a Residual Certificate, in the event the representation letter referred to in the preceding sentence is not furnished, such representation shall be deemed to have been made to the Trustee by the transferee’s (including an initial acquirer’s) acceptance of the ERISA-Restricted Certificates.
Upon termination of the Trust Fund, any amounts remaining in the Reserve Fund shall be distributed to the Holder of the Class X-1 Certificate in the same manner as if distributed pursuant to Section 4.02(b)(iv)K.
This Class X-1 Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Class X-1 Certificate by virtue of the acceptance hereof assents and by which such Holder is bound.
The Class X-1 Certificate shall evidence ownership of the Reserve Fund for federal tax purposes and the Holders thereof shall direct the Trustee in writing as to the investment of amounts therein.
Reference is hereby made to the further provisions of this Class X-1 Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place.
None of the Depositor, the Trustee or the Certificate Registrar is obligated to register or qualify the Class X-1 Certificates under the Securities Act or any other securities law or to take any action not otherwise required under the Agreement to permit the transfer of any Class X-1 Certificate without registration or qualification.
This Class X-1 Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trustee.
The Class X-1 Certificate shall evidence ownership of the Reserve Fund for federal tax purposes and the Holders thereof shall direct the Trustee in writing as to the investment 100 of amounts therein.
This Class X-1 Certificate is entitled to distributions with respect to certain Mortgage Loans that are initially assets of the Trust.

More Definitions of Class X-1 Certificate

Class X-1 Certificate means any of the Certificates that collectively constitute the Class bearing the class designation "X-1".

Class X-1 Certificate. Any one of the Class X-1 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-5, representing a Regular Interest in REMIC 5.

Class X-1 Certificate. A Certificate designated as "Class X-1" on the face thereof, in the form of Exhibit A-8 hereto.

Class X-1 Certificate. Any one of the Certificates executed and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-4 hereto.

Class X-1 Certificate. Any Certificate designated as a "Class X-1 Certificate" on the face thereof, in the form of Exhibit A-6 hereto, representing the right to its Percentage Interest of distributions provided for the Class X-1 Certificates as set forth herein and evidencing a Regular Interest in REMIC II.