Subordinated Beneficial Interests definition

Subordinated Beneficial Interests means the Beneficial Interests to be created under the First Trust Agreement other than the Senior Beneficial Interests.
Sample 1Sample 2Sample 3
Subordinated Beneficial Interests means the beneficial interests in the Wind-Down Trust to be received by the Holders of Allowed MGG Subordinated Claims in Class 3 pursuant to the terms of the Plan and the Wind-Down Trust Agreement, which beneficial interests (a) shall be junior in right of payment and priority to the Senior Beneficial Interests and (b) shall have the additional attributes set forth in this Plan and the Wind-Down Trust Agreement. For the avoidance of doubt, the Holders of Subordinated Beneficial Interests will not be entitled to receive or retain any Distributions from the Wind-Down Trust unless and until all Holders of Senior Beneficial Interests entitled to Distributions from the Wind-Down Trust have received Distributions from the Wind-Down Trust in amounts sufficient to repay in full the Allowed amounts of their respected Allowed General Unsecured Claims.
Sample 1

Examples of Subordinated Beneficial Interests in a sentence

  • Students need to analyze and represent systems morphological and functional structure.

  • The Wind-Down Trust’s taxable income, gain, loss, deduction or credit shall be allocated (subject to the provisions of the Plan and any orders regarding Disputed Claims) to the Beneficiaries in accordance with their relative beneficial interest in the Wind-Down Trust, as determined by the Plan Administrator in its good faith discretion, and after taking into account whether the Beneficiaries hold Senior Beneficial Interests or Subordinated Beneficial Interests.

  • Aeon Product Finance entrusts renovation loans, solar loans, and money to Sumitomo Mitsui Trust Bank and receives Class A Senior Beneficial Interests, Class B Senior Beneficial Interests, Mezzanine I-1 Beneficial Interests, Mezzanine I-2 Beneficial Interests, Mezzanine II Beneficial Interests, and Subordinated Beneficial Interests.

  • On the Effective Date and in accordance with the terms of the MGG Settlement Agreement, in full and final satisfaction, compromise, settlement, and release of and in exchange for its Allowed MGG Subordinated Claim, each Holder of an Allowed MGG Subordinated Claim shall be deemed to receive on account of its Allowed MGG Subordinated Claim its Ratable Share of Subordinated Beneficial Interests.

  • Pursuant to the terms of the MGG Settlement Agreement and this Plan, each MGG Subordinated Claim is an Allowed Class 3 Claim entitled to receive on account thereof its Ratable Share of Subordinated Beneficial Interests.

  • Pursuant to the terms of the MGG Settlement Agreement and this Plan, each MGG Subordinated Claim is an Allowed Class 3 Claim entitled to receive on account thereof its Ratable Share of the Subordinated Beneficial Interests.

Related to Subordinated Beneficial Interests

  • Beneficial Interest means the opportunity, directly or indirectly, through any contract, arrangement, understanding, relationship or otherwise, to profit, or share in any profit derived from, a transaction in the subject Securities. A Covered Person is deemed to have a Beneficial Interest in Securities owned by members of his or her Immediate Family. Common examples of Beneficial Interest include joint accounts, spousal accounts, UTMA accounts, partnerships, trusts and controlling interests in corporations. Any uncertainty as to whether a Covered Person has a Beneficial Interest in a Security should be brought to the attention of the Compliance Officer. Such questions will be resolved in accordance with, and this definition shall be subject to, the definition of “beneficial owner” found in Rules 16a-1(a)(2) and (5) promulgated under the Securities Exchange Act of 1934.

  • Preferred Security Beneficial Owner means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

  • Capital Security Beneficial Owner means, with respect to a Book Entry Interest, a Person who is the beneficial owner of such Book Entry Interest, as reflected on the books of the Clearing Agency, or on the books of a Person maintaining an account with such Clearing Agency (directly as a Clearing Agency Participant or as an indirect participant, in each case in accordance with the rules of such Clearing Agency).

  • Class R-3 Interest The uncertificated Residual Interest in REMIC 3.

  • Beneficial Ownership Interest means the right to receive payments and notices with respect to the Bonds held in a Book Entry System.

  • Purported Beneficial Transferee means, with respect to any purported Transfer (or other event) which results in a transfer to a Trust, as provided in Section 6.2.2 of this Article VI, the Purported Record Transferee, unless the Purported Record Transferee would have acquired or owned shares of Capital Stock for another Person who is the beneficial transferee or owner of such shares, in which case the Purported Beneficial Transferee shall be such Person.

  • Original Class B-4 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-4 Fractional Interest is specified in Section 11.19.

  • Original Class B-5 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-5 Fractional Interest is specified in Section 11.20.

  • Class R-4 Interest The uncertificated Residual Interest in REMIC 4.

  • Class R-I Interest The uncertificated Residual Interest in REMIC I.

  • Current Class B-4 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-4 Fractional Interest.

  • Original Class B-2 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-3 Principal Balance, the Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-2 Fractional Interest is specified in Section 11.17.

  • Original Class B-3 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-4 Principal Balance, the Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-3 Fractional Interest is specified in Section 11.18.

  • Current Class B-5 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the Principal Balance of the Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-5 Fractional Interest.

  • Class R-II Certificate Any one of the Class R-II Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC II for purposes of the REMIC Provisions.

  • Capital Security means an undivided beneficial interest in the assets of the Issuer Trust, having a Liquidation Amount of $1,000 and having the rights provided therefor in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.

  • Original Class B-1 Fractional Interest As to the first Distribution Date, the percentage obtained by dividing the sum of the Original Class B-2 Principal Balance, the Original Class B-3 Principal Balance, the Original Class B-4 Principal Balance, Original Class B-5 Principal Balance and the Original Class B-6 Principal Balance by the sum of the Original Class A Non-PO Principal Balance and the Original Class B Principal Balance. The Original Class B-1 Fractional Interest is specified in Section 11.16.

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.

  • Trust Beneficial Owner means Global Funding, in its capacity as the sole beneficial owner of the Trust, and its successors.

  • Class R-II Interest The uncertificated Residual Interest in REMIC II.

  • Current Class B-3 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-4, Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-3 Fractional Interest.

  • Applicable Ownership Interest means, with respect to the Treasury portfolio,

  • Current Class B-2 Fractional Interest As to any Distribution Date subsequent to the first Distribution Date, the percentage obtained by dividing the sum of the Principal Balances of the Class B-3, Class B-4, Class B-5 and Class B-6 Certificates by the sum of the Class A Non-PO Principal Balance and the Class B Principal Balance. As to the first Distribution Date, the Original Class B-2 Fractional Interest.

  • Class R-IV Interest The uncertificated Residual Interest in REMIC IV.

  • Class R-1 Interest The uncertificated Residual Interest in REMIC 1.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.