Retained Notes definition

Retained Notes means the Class A-1 Notes, the Class B Notes, $21,000,000 of the Class A-2a Notes, $10,500,000 of the Class A-2b Notes, $24,200,000 of the Class A-3 Notes and $7,412,000 of the Class A-4 Notes until such time as such Notes are the subject of an Opinion of Counsel pursuant to Section 2.04(h) of the Indenture with respect to their classification as debt for federal income tax purposes.

Retained Notes. The Notes initially retained by the Depositor or a Person treated as the same Person as the Depositor for U.S. federal income tax purposes.

Retained Notes if any, means any Notes retained in the initial offering thereof by the Depositor or NMAC or conveyed to an Affiliate.

Examples of Retained Notes in a sentence

• Each Assignee also shall agree that it will furnish to the Person from whom it is acquiring any interest in the Retained Notes, the Seller, the Servicer, and the Indenture Trustee, a properly executed U.S. Internal Revenue Service Form W-9 (and will agree to furnish a new Form W-9, or any successor applicable form, upon the expiration or obsolescence of any previously delivered form) and such other certifications, representations or Opinions of Counsel as may be requested by the Indenture Trustee.

• Each Assignee shall certify to the Seller, the Servicer, and the Indenture Trustee that it has not acquired and it will not Transfer any interest in the Retained Notes, or cause an interest in the Retained Notes to be marketed, on or through an “established securities market” within the meaning of Section 7704(b)(1) of the Code and any Treasury regulations thereunder, including an over-the-counter market or an interdealer quotation system that regularly disseminates firm buy or sell quotations.

• No portion of the Retained Notes or any interest therein may be transferred, directly or indirectly, to any Person (other than Credit Acceptance Funding LLC 2024-2 in the initial offering, which shall not be subject to any of the transfer restrictions set forth herein that relate specifically to each initial purchaser) except in accordance with this Section 2.3(a).

• No portion of the Retained Notes or any interest therein may be Transferred to any Person (each, an “Assignee”), unless the Assignee shall have executed and delivered the certifications referred to in this Section 2.3 and, except in connection with the initial Transfer of the Retained Notes to the Retained Noteholders, the Indenture Trustee has received a Tax Opinion with respect to such Transfer.

• Such Transfers of all or any portion of the Retained Notes shall be subject to the restrictions set forth in this Section 2.3(a).

More Definitions of Retained Notes

Retained Notes. The Notes initially retained by the Depositor or a Person treated as the same Person as the Depositor for U.S. federal income tax purposes. Schedule of Receivables: The schedule of Receivables attached to the First Step Receivables Assignment delivered on the Closing Date and originally held as part of the Trust, and on file at the locations listed on Exhibit A of the Trust Sale Agreement, as it may be amended from time to time.

Retained Notes if any, means any Notes beneficially owned by the Issuer or an entity which, for U.S. federal income tax purposes, is treated as the same Person as the Issuer, until such time as such Notes are the subject of an opinion pursuant to Section 2.04(g) of the Indenture.

Retained Notes means [RESERVED].

Retained Notes means the Class C Notes to the extent retained on the Closing Date by Credit Acceptance or one of its Affiliates, for so long as such Notes are retained by Credit Acceptance or one of its Affiliates and, if transferred or assigned by Credit Acceptance or one of its Affiliates, until an Opinion of Counsel has been rendered with respect to the Class of such Notes that the Notes of such Class or any interest therein will be treated as debt for U.S. federal income tax purposes.

Retained Notes means any Notes, or interests therein, beneficially owned by the Issuer or an entity which, for U.S. federal income tax purposes, is considered the same Person as the Issuer, until such time as such Notes are the subject of an opinion pursuant to Section 2.6(d) hereof.

Retained Notes means the Class B Notes; provided, that upon any Retained Notes becoming Later-Sold Notes, they shall no longer be considered Retained Notes.

Retained Notes means the Class B Notes and the Class C Notes, until such time as such Notes are the subject of a Debt Opinion, which Debt Opinion shall have been received by the Depositor and the Indenture Trustee.