Examples of Senior Certificateholders in a sentence
Insured Payments made under the Certificate Insurance Policy shall be disbursed by the Trustee to Senior Certificateholders in the same manner as distributions on the Senior Certificates are made under Section 5.01.
The Trustee hereby agrees on behalf of each Holder of a Senior Certificate for the benefit of the Certificate Insurer that it and they recognize that to the extent the Certificate Insurer makes Insured Payments, either directly or indirectly (as by paying through the Trustee), to the Senior Certificateholders, the Certificate Insurer will be entitled to receive the Reimbursement Amount pursuant to Section 5.01(a)(5).
It is understood and agreed that the intention of the parties is that the Certificate Insurer shall not be entitled to reimbursement on any Distribution Date for amounts previously paid by it unless on such Distribution Date the Senior Certificateholders shall also have received the full amount of the Guaranteed Distributions for such Distribution Date.
Upon receipt of the Insured Payment, at or prior to the latest time payments of the Insured Payment are to be made by the Certificate Insurer pursuant to the Certificate Insurance Policy, on behalf of the Senior Certificateholders, the Trustee shall deposit such Insured Payments in the Distribution Account and shall distribute such Insured Payments only in accordance with Section 5.01(a)(2) and 5.01(a)(4), if applicable.
Upon receipt of the Insured Payment, at or prior to the latest time payments of the Insured Payment are to be made by the Certificate Insurer pursuant to the Certificate Insurance Policy, on behalf of the Senior Certificateholders, the Trustee shall deposit such Insured Payments in the Policy Payments Account and shall distribute such Insured Payments only in accordance with Section 5.01(a)(2) and 5.01(a)(4), if applicable.
Upon receipt of the Insured Payment, at or prior to the latest time payments of the Insured Payment are to be made by the Certificate Insurer pursuant to the Certificate Insurance Policy, on behalf of the Senior Certificateholders, the Trustee shall deposit such Insured Payments in the Distribution Account and shall distribute such Insured Payments only in accordance with Section 5.01(a)A.2 or B.2, as applicable, and 5.01(a)C.3, if applicable.
In connection therewith, the Depositor hereby authorizes and directs the Trustee (solely in its capacity as trustee of the Supplemental Interest Trust) to execute and deliver the Swap Agreement and the Cap Agreement (on behalf of the Supplemental Interest Trust), in trust for the benefit of the Senior Certificateholders (other than the Holders of the Class AIO Certificates).
Insured Payments disbursed by the Trustee from proceeds of the Policy shall not be considered payment by the Trust Fund with respect to the Senior Certificates, nor shall such disbursement of such Insured Payments discharge the obligations of the Trust Fund with respect to the amounts thereof, and the Insurer shall become owner of such amounts to the extent covered by such Insured Payments as the deemed assignee and subrogee of such Senior Certificateholders.
Notwithstanding any other provision of this Agreement, the Senior Certificateholders are not entitled to make a claim for any Deficiency Amount directly under the Certificate Insurance Policy or institute proceedings directly against the Certificate Insurer.
All such investments must be payable on demand or mature on a Distribution Date or such other date as directed by the Group 1 Senior Certificateholders.