Excess Interest Trustee definition

Excess Interest Trustee means a Person, who shall be unaffiliated with the Venture, any Purported Beneficial Transferee and any Purported Record Transferee, identified by the Venture as the trustee of the Excess Interest Trust.
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Excess Interest Trustee means a Person identified by the Director as the trustee of the Excess Interest Trust, who shall be an independent, third party unaffiliated with the Director, the Company, any Purported Beneficial Transferee, and any Purported Record Transferee, and who would not cause the Company or the Director to become subject to any duty under ERISA or Section 4975 of the Code with respect to any Purported Beneficial Transferee or any Purported Record Transferee.
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Examples of Excess Interest Trustee in a sentence

  • The Excess Interest Trustee shall be entitled to vote the Excess Interests for the benefit of the Charitable Beneficiary on any matter.

  • The owner of the Excess Interests shall be deemed to have given an irrevocable proxy to the Excess Interest Trustee to vote the Excess Interests for the benefit of the Charitable Beneficiary.

  • Prior to any Transfer of any Excess Interests by the Excess Interest Trustee, the Venture must have waived in writing its purchase rights under Section 9.18.

  • Upon any purported Transfer that results in Excess Interests pursuant to Section 9.3, such Excess Interests shall be deemed to have been transferred to the Excess Interest Trustee, as trustee of the Excess Interest Trust for the exclusive benefit of the Charitable Beneficiary.

  • Upon any purported Transfer that results in Excess Interests pursuant to Section 10.3, such Excess Interests shall be deemed to have been transferred to the Excess Interest Trustee, as trustee of the Excess Interest Trust for the exclusive benefit of the Charitable Beneficiary.

  • The owner of the Excess Interest shall be deemed to have given an irrevocable proxy to the Excess Interest Trustee to vote the Excess Interest for the benefit of the Charitable Beneficiary.

  • The Excess Interest Trustee shall transfer the interests held in the Excess Interest Trust to a person, subject to Section 10.2, whose ownership of the Share will not violate the Ownership Limit or Existing Holder Limit and for whom such transfer would not be wholly or partially void pursuant to Section 3.1(d).

  • Prior to any Transfer of any Excess Interests by the Excess Interest Trustee, the Venture must have waived in writing its purchase rights under Section 10.18.

  • Upon any purported Transfer that results in an Excess Interest pursuant to Section 3.1(e), such Excess Interest shall be deemed to have been transferred to the Excess Interest Trustee, as trustee of a trust (the “Excess Interest Trust”) for the exclusive benefit of the Charitable Beneficiary.

  • Prior to any transfer of any Excess Interest by the Excess Interest Trustee, the Company must have waived in writing its purchase rights under Section 3.1(t).

Related to Excess Interest Trustee

  • Supplemental Interest Trust Trustee Xxxxx Fargo Bank, N.A., a national banking association, not in its individual capacity but solely in its capacity as supplemental interest trust trustee, and any successor thereto.

  • Master Trust Trustee means the entity acting as trustee under the applicable Pooling and Servicing Agreement.

  • Supplemental Interest Trust The corpus of a trust created pursuant to Section 5.07 of this Agreement and designated as the “Supplemental Interest Trust,” consisting of the Swap Agreement, the Swap Account, the Interest Rate Cap Agreement, the Interest Rate Cap Account, the right to receive the Class X Distributable Amount as provided in Section 5.02(f)(vi), the Class LT4-I interest in REMIC 4 and the right to receive Class I Shortfalls.

  • Conduit Credit Enhancer shall have the meaning assigned to such term in Section 14(d).

  • Subordination Agent Has the meaning specified in the Intercreditor Agreement.

  • NIM Trustee The trustee for the NIM Securities.

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

  • Related Trustee Means the trustee under the Related Pass Through Trust Agreement.

  • Trustee/Certificate Administrator Fee With respect to each Mortgage Loan and for any Distribution Date, an amount accrued during the related Interest Accrual Period at the Trustee/Certificate Administrator Fee Rate on, in the case of the initial Distribution Date, the Cut-Off Date Balance of such Mortgage Loan and, in the case of any subsequent Distribution Date, the Stated Principal Balance of such Mortgage Loan as of the close of business on the Distribution Date in the related Interest Accrual Period; provided that such amounts shall be computed for the same period and on the same interest accrual basis respecting which any related interest payment due or deemed due on the related Mortgage Loan is computed and shall be prorated for partial periods. For the avoidance of doubt, the Trustee/Certificate Administrator Fee shall be payable from the Lower-Tier REMIC.

  • Additional Trust Fund Expense Any expense of the Trust Fund that (i) arises out of a default on a Mortgage Loan or a Serviced Pari Passu Companion Loan or an otherwise unanticipated event, (ii) is not included in the calculation of a Realized Loss, (iii) is not covered by a Servicing Advance or a corresponding collection from the related Borrower, and (iv) is not covered by Default Charges collected on the Mortgage Loans to the extent provided herein.

  • Property Trustee Account has the meaning set forth in Section 3.8(c).

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • Lead Securitization Trust means the Securitization Trust created in connection with the Lead Securitization.

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

  • Owner Trustee means Wilmington Trust Company, a Delaware trust company, not in its individual capacity but solely as owner trustee under this Agreement, and any successor Owner Trustee hereunder.

  • Escrow Trustee means the bank or trust company designated by the Fiscal Officer in the Certificate of Award as the initial escrow agent with respect to the Refunded Bonds under the Escrow Agreement and until a successor Escrow Trustee shall have become such pursuant to the provisions of the Escrow Agreement and, thereafter, "Escrow Trustee" shall mean the successor Escrow Trustee.

  • Lead Securitization Directing Certificateholder means the “Directing Certificateholder” as defined in the Lead Securitization Servicing Agreement.

  • Lead Servicer means the master servicer designated under the Note A-1 PSA.

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

  • Junior Certificateholder The Holder of not less than 95% of the Percentage Interests of the Junior Class of Certificates.

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

  • Master Servicer means the master servicer appointed as provided in the Lead Securitization Servicing Agreement.

  • Extraordinary Trust Fund Expense Any amounts reimbursable to the Trustee, or any director, officer, employee or agent of the Trustee, from the Trust Fund pursuant to Section 8.05, any amounts payable from the Distribution Account in respect of taxes pursuant to Section 10.01(g)(iii) and any amounts payable by the Trustee for the recording of the assignments of mortgage pursuant to Section 2.01.

  • Advance Facility Trustee As defined in Section 3.22.

  • Class B Certificateholder means the Person in whose name a Class B Certificate is registered in the Certificate Register.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.