Grantor Trust A-2FL definition

Grantor Trust A-2FL means the portion of the Trust Fund consisting of (i) the Class A-2FL REMIC III Regular Interest and distributions thereon, (ii) the Class A-2FL Swap Agreement and payments by the Class A-2FL Swap Counterparty thereunder and (iii) the Class A-2FL Floating Rate Account, intended to be treated as a "grantor trust" within the meaning of the Grantor Trust Provisions. Grantor Trust A-2FL constitutes a separate common law trust created hereunder.

Grantor Trust A-2FL. That certain "grantor trust" (within the meaning of the Grantor Trust Provisions), the assets of which consist of (i) the Class A-2FL REMIC II Regular Interest and distributions thereon, (ii) the Class A-2FL Swap Agreement and, except for the Class A-2FL Depositor's Retained Amount, payments by the Class A-2FL Swap Counterparty thereunder and (iii) the applicable sub-account of the Floating Rate Account, intended to be treated as a "grantor trust" within the meaning of the Grantor Trust Provisions.

Examples of Grantor Trust A-2FL in a sentence

• The Class A-2FL Certificates are hereby designated as representing an undivided beneficial ownership interest in Grantor Trust A-2FL.

• Any replacement Certificate issued pursuant to this section shall constitute complete and indefeasible evidence of ownership in the applicable REMIC Pool or Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL, Grantor Trust A-JFL or, if created hereunder taking into account Section 2.05(b), Grantor Trust V, as applicable, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

• The Servicing Accounts shall not be considered part of the segregated pool of assets constituting, REMIC I, REMIC II, Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust Z, Grantor Trust E or Grantor Trust B.

• Grantor Trust A-2FL shall be held for the benefit of the Holders of the Class A-2FL Certificates, Grantor Trust A-4FL shall be held for the benefit of the Holders of the Class A-4FL Certificates, Grantor Trust A-MFL shall be held for the benefit of the Holders of the Class A-MFL Certificates, and Grantor Trust A-JFL shall be held for the benefit of the Holders of the Class A-JFL Certificates.

• The Class A-2FL Certificates, the Class A-4FL Certificates, the Class A-MFL Certificates, the Class A-JFL Certificates and, subject to Section 2.05(b), the Class V Certificates are hereby designated as representing an undivided interest in Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL, Grantor Trust A-JFL and Grantor Trust V, respectively.

• The Depositor shall deposit, or cause the deposit of, the Class A-2FL Swap Agreement into Grantor Trust A-2FL, the Class A-4FL Swap Agreement into Grantor Trust A-4FL, the Class A-MFL Swap Agreement into Grantor Trust A-MFL, and the Class A-JFL Swap Agreement into Grantor Trust A-JFL.

• The rights of Holders of the Class A-2FL Certificates, the Class A-4FL Certificates, the Class A-MFL Certificates, the Class A-JFL Certificates and, subject to Section 2.05(b), the Class V Certificates, to receive distributions from the proceeds of Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL, Grantor Trust A-JFL and Grantor Trust V, respectively, and all ownership interests of such Holders in and to such respective distributions, shall be as set forth in this Agreement.

• Grantor Trust A2-FL, Grantor Trust AJ-FL and Grantor Trust E will be classified as grantor trusts under subpart E, part I of subchapter J of the Internal Revenue Code of 1986, as amended.

• The rights of Holders of the Class A-2FL Certificates and, subject to Section 2.05(b), the Class V Certificates, to receive distributions from the proceeds of Grantor Trust A-2FL and Grantor Trust V, respectively, and all ownership interests of such Holders in and to such respective distributions, shall be as set forth in this Agreement.

• The Trustee is hereby authorized and directed, not in its individual capacity but solely as Grantor Trust Trustee and on behalf, and for the benefit, of Grantor Trust A-2FL, to execute and deliver the Class A-2FL Swap Agreement on the Closing Date and to perform obligations as described herein with respect to the Class A-2FL Swap Agreement.