Examples of Residual Class Certificates in a sentence
The undersigned irrevocably undertakes to deliver to the Trustee on the Exchange Date specified below the specified amount of Amortizing Class Certificates and Residual Class Certificates held of record by the undersigned in exchange for Term Assets in the Specified Percentage (subject to rounding as described above).
The Certificates shall be issued in two Classes consisting of (a) the Amortizing Class Certificates (the "Amortizing Class Certificates") and (b) the Residual Class Certificates (the "Residual Class Certificates"), subject to Section 5.16 of the Base Trust Agreement.
Upon tender of such Certificates, duly endorsed by the Holder to the Trustee, the Trustee shall transfer to the Holder (or its designee specified in the Notice of Exchange) a principal amount of Term Assets comprising the same percentage of the Term Assets then held in the Trust as the percentage of Amortizing Class Certificates and Residual Class Certificates tendered by such Holder on such Scheduled Distribution Date, rounded down to the nearest authorized denomination of Term Assets.
In the event of an In-Kind Distribution pursuant to Section 3.6 of the Base Trust Agreement, the Trustee shall make such In-Kind Distribution to the Holders of the Amortizing Class Certificates and the Holders of the Residual Class Certificates, respectively, on the basis of the Distribution Ratio to the date on which the Payment Default or Acceleration of the Term Assets occurred.
THE BANK OF NEW YORK, a New York banking corporation By:____________________________ Authorized Signatory Dated: [ ], 1998 TRUSTEE'S CERTIFICATE OF AUTHENTICATION This is one of the Residual Class Certificates described in the Trust Agreement referred to herein.
If no Amortizing Class Certificates are still outstanding, all such distributions will be made to the Holders of the Residual Class Certificates.
The Trust is also issuing certificates designated as "Receipts on Corporate Securities, Series NSC 1998-1, Residual Class Certificates" (hereinafter called the "Residual Class Certificates" and together with the Amortizing Class Certificates, the "Certificates") pursuant to the Trust Agreement.
If no Amortizing Class Certificates are still outstanding, all payments will be made to the Holders of the Residual Class Certificates.
In the event of an In-Kind Distribution pursuant to Section 3.6 of the Base Trust Agreement, the Trustee shall make such In-Kind Distribution to the Holders of the Amortizing Class Certificates, if still outstanding, and the Holders of the Residual Class Certificates, respectively, on the basis of the Distribution Ratio to the date on which the Payment Default, Change in Reporting Status, or Acceleration of the Term Assets occurred.
The Trust is also issuing certificates designated as "Receipts on Corporate Securities, Series CHR 1998-1, Residual Class Certificates" (hereinafter called the "Residual Class Certificates" and together with the Amortizing Class Certificates, the "Certificates") pursuant to the Trust Agreement.