Excess Distribution Certificates definition

Excess Distribution Certificates means the certificates, substantially in the form of Exhibit A to the Trust Agreement, evidencing the right to receive payments thereon as set forth in Sections 2.8(m) and 2.9(f) of the Administration Agreement.
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Examples of Excess Distribution Certificates in a sentence

  • No further Excess Distribution Certificates shall be issued except pursuant to paragraph (c) or (d) below.

  • No further Excess Distribution Certificates shall be issued except pursuant to clause (c) or (d) below.

  • Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificates, the Depositor shall be the sole beneficial owner of the Trust.

  • The preceding provisions of this Section notwithstanding, the Eligible Lender Trustee shall not be required to make and the Excess Distribution Certificate Registrar need not register transfers or exchanges of any Excess Distribution Certificate for a period of 15 days preceding any Distribution Date with respect to the Excess Distribution Certificates.

  • The Administrator and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of the Excess Distribution Certificates or Notes with the same rights as it would have if it were not the Administrator or an Affiliate thereof, except as expressly provided herein in any other Basic Document.

  • The Eligible Lender Trustee shall not have the power, except upon the written direction of the Excess Distribution Certificateholders evidencing not less than a majority of the aggregate percentage interest of the Excess Distribution Certificates and except as expressly provided in the Basic Documents, to sell the Trust Student Loans after the payment in full of the Notes.

  • The Eligible Lender Trustee makes no representations as to the validity or sufficiency of this Agreement, the Excess Distribution Certificates, or any other Basic Document (other than the signature of and authentication by the Eligible Lender Trustee on the Excess Distribution Certificates), or the Notes, or of any Trust Student Loan or related documents.

  • The recitals contained herein and in the Excess Distribution Certificates (other than the signature of and authentication by the Eligible Lender Trustee on the Excess Distribution Certificates) shall be taken as the statements of the Depositor and the Eligible Lender Trustee assumes no responsibility for the correctness thereof.

  • Trustee Not Liable for Excess Distribution Certificates or Trust Student Loans...........................................16 Section 7.07.

  • The Excess Distribution Certificates shall be issued in one or more registered, definitive physical certificates substantially in the form of Exhibit A hereto.

Related to Excess Distribution Certificates

  • Excess Distribution Certificate means the certificate, substantially in the form of Exhibit A to the Trust Agreement, evidencing the right to receive payments thereon as set forth in Sections 2.8(j) and 2.9(f) of the Administration Agreement.

  • Excess Distribution Unit is defined in Section 6.1(d)(iii)(A).

  • Excess Distribution is defined in Section 6.1(d)(iii)(A).

  • Class Distribution Amount As to each Combinable Class and Distribution Date, an amount equal to the distribution of principal and/or interest on such Distribution Date in respect of the Related REMIC Class multiplied by a fraction the numerator of which is equal to the Aggregate Denomination of such Class at the close of business on the related Record Date and the denominator of which is the original principal amount of the Related REMIC Class having the same letter designation. As to each RCR Class, the sum of (i) the Class Interest Distribution Amount for such Class and (ii) the Class Principal Distribution amount for such Class.

  • Class N Certificate means any of the Certificates with a "Class N" 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.

  • COFI Certificates As specified in the Preliminary Statement.

  • Certificate Distribution Amount means, as of any Payment Date, the amount being distributed to the Trust Certificateholders on such Payment Date.

  • New Certificates has the meaning set forth in Section 3.04(a).

  • Class A-1 Certificateholder The registered holder of a Class A-1 Certificate.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A-4 Certificateholder The registered holder of a Class A-4 Certificate.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Class A-PO Certificateholder The registered holder of a Class A-PO Certificate.

  • Class A-2 Certificateholder The registered holder of a Class A-2 Certificate.

  • Class A-3 Certificateholder The registered holder of a Class A-3 Certificate.

  • Certificate Group Each of the Group 1 Certificates and the Group 2 Certificates.

  • Certificateholders' Principal Distributable Amount means, with respect to any Distribution Date, an amount equal to zero until the outstanding principal amount of each Class of Notes has been reduced to zero, and thereafter, an amount equal to the Principal Distribution Amount (as reduced by the Noteholders’ Principal Distributable Amount, if any for such Distribution Date) for such Distribution Date.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

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

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class A-R Certificateholder The registered holder of the Class A-R Certificate.

  • Class Distribution Order means an order entered by the Court authorizing and directing that the Net Settlement Fund be distributed, in whole or in part, to Authorized Claimants.

  • Certificate Insurer As defined in the Series Supplement.

  • Grantor Trust Certificates Any class of commercial mortgage pass-through certificates issued under this Agreement that is designated as evidencing an interest in the Grantor Trust. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Grantor Trust Certificates issued under this Agreement.

  • 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.