Designated Trust definition

Designated Trust means a trust that —

Designated Trust with respect to such Pricing Agreement) shall issue and sell to the firms named in Schedule I to the applicable Pricing Agreement (such firms constituting the "Underwriters" with respect to such Pricing Agreement and the securities specified therein) certain of its preferred securities (the "Securities") identified in Schedule I to the applicable Pricing Agreement (with respect to such Pricing Agreement, the "Firm Designated Securities") representing undivided beneficial interests in the assets of the Designated Trust. If specified in such Pricing Agreement, the Designated Trust may grant to the Underwriters the right to purchase at their election an additional number of Securities, specified in such Pricing Agreement as provided in Section 3 hereof (the "Optional Designated Securities"). The Firm Designated Securities and any Optional Designated Securities, if any, are collectively called the "Designated Securities." The proceeds of the concurrent sales of the Designated Securities to the public and of the common securities of the Designated Trust (the "Common Securities") to the Company are to be invested in junior subordinated deferrable interest debentures of the Company identified in the Pricing Agreement with respect to such Designated Securities (with respect to such Pricing Agreement, the "Subordinated Debentures"), to be issued pursuant to a junior subordinated indenture dated as of December 25, 1996 between the Company and The First National Bank of Chicago, as trustee (the "Indenture"). The Designated Securities may be exchangeable into Subordinated Debentures as specified in Schedule II to such Pricing Agreement. The Designated Securities will be guaranteed by the Company to the extent set forth in the Pricing Agreement with respect to such Designated Securities (with respect to such Pricing Agreement, the "Guarantee"). The terms and rights of any particular issuance of Designated Securities shall be as specified in the Pricing Agreement relating thereto and in or pursuant to the amended and restated trust agreement identified in such Pricing Agreement (with respect to such Pricing Agreement, the "Trust Agreement").

Designated Trust means a trust that is resident in Canada but outside Québec on the last day of a taxation year, but does not include a unit trust or a trust described in any of paragraphs a to e.1 of the definition of “trust” in subsection 1 of section 108 of the Income Tax Act (Revised Statutes of Canada, 1985, chapter 1, 5th Supplement);

Examples of Designated Trust in a sentence

• In no event shall any Trust Advisor Expenses other than Designated Trust Advisor Expenses reduce or delay any principal or interest payable in respect of the Control-Eligible Certificates.

• Any Trust Advisor Expenses (other than Designated Trust Advisor Expenses) or Excess Trust Advisor Expenses (other than Designated Trust Advisor Expenses) allocated to a Class of Certificates (which are not Control-Eligible Certificates) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced by the respective Certificates.

• Any indemnification payments or reimbursements of costs or expenses described in the preceding paragraph to which the Trust Advisor may become entitled shall constitute Trust Advisor Expenses and the payment of such Trust Advisor Expenses (other than those that constitute Designated Trust Advisor Expenses) shall be subject to the limitations set forth in Section 4.05.

• We hereby consent to the filing of this letter as an exhibit to the Current Report on Form 8-K, incorporated by reference in the Registration Statement, filed by Global Funding and the Designated Trust in connection with the issuance and sale of the Designated Notes and the Designated Funding Note.

• Trust Advisor Expenses (other than Designated Trust Advisor Expenses) shall not be allocated to reduce interest distributable on the Class A Certificates, the Class A-S Regular Interest, the Interest Only Certificates or the Control-Eligible Certificates or any Serviced Pari Passu Companion Loan.

More Definitions of Designated Trust

Designated Trust means any trust:

Designated Trust means a trust that has been designated under section 44D as a designated trust;

Designated Trust with respect to such Pricing Agreement) shall issue and sell to the firms (such firms constituting the "Underwriters" with respect to such Pricing Agreement and the securities specified therein) certain of its preferred securities (the "Securities") identified in Schedule I to the applicable Pricing Agreement (with respect to such Pricing Agreement, the "Firm Designated Securities") representing undivided beneficial interests in the assets of the Designated Trust, guaranteed by the Guarantor to the extent set forth in the guarantee agreement (the "Guarantee") identified in such Pricing Agreement. If specified in such Pricing Agreement, the Designated Trust may grant to the Underwriters the right to purchase at their election an additional number of Securities, specified in such Pricing Agreement as provided in Section 3 hereof (the "Optional Designated Securities"). The Firm Designated Securities and any Optional Designated Securities are collectively called the "Designated Securities." The proceeds of the sale of the Designated Securities and of common securities of the Trust (the "Common Securities") sold to the Guarantor are to be invested in junior subordinated deferrable interest debentures of the Guarantor (the "Subordinated Debentures"), to be issued pursuant to a junior subordinated indenture (the "Indenture") identified in the Pricing Agreement. The Designated Securities may be exchangeable into Subordinated Debentures, as specified in Schedule II to such Pricing Agreement. Pursuant to the Guarantee Agreement identified in the Pricing Agreement relating to any particular issuance of Designated Securities, the Designated Securities will be guaranteed by the Guarantor to the extent set forth in such Pricing Agreement (the "Guarantee"). The terms and rights of any particular issuance of Designated Securities shall be as specified in the Pricing Agreement relating thereto and in or pursuant to the amended and restated trust agreement (the "Trust Agreement") identified in such Pricing Agreement.

Designated Trust means, with respect to Jamex X. Xxxxxx, xxe Jamex X. Xxxxxx Xxxst - 1995, his spouse, any of his lineal descendants or any trust for the exclusive benefit of any of the foregoing, and, with respect to Thomxx X. Xxxxxx, Xxe Thomxx X. Xxxxxx Xxxocable Trust of 1998, his spouse, any of his lineal descendants or any trust for the exclusive benefit of any of the foregoing.

Designated Trust. Recitals.

Designated Trust means a Trust established under the Master Trust Deed which the Global Trust Manager and the Bond Administrator agree, by means of execution of a Designation Notice, will be subject to this deed.

Designated Trust pursuant to clause 2.1 of the Deed of Delegation: [HomeSide Mortgage Securities Trust 2001-1].