Subordinated Certificate definition

Subordinated Certificate. Any Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K or Residual Certificate.

Subordinated Certificate. Any Class M Certificate or Class B Certificate.

Subordinated Certificate means the Subordinated Company Certificate, Series 1997-1, executed by the Company and authenticated by the Trustee, substantially in the form of Exhibit B.

Examples of Subordinated Certificate in a sentence

• As a result of the foregoing, the amount of distributions and taxable income on the REMIC Regular Interest corresponding to a Class A or Subordinated Certificate may exceed the actual amount of distributions on the Class A or Subordinated Certificate.

• EC2010-643 PRINCE EDWARD ISLAND LANDS PROTECTION ACTPETITION TO ACQUIRE A LAND HOLDING DR.

• Any allocation of Realized Losses to a Subordinated Certificate on any Distribution Date shall be made by reducing the Certificate Balance thereof by such Certificate’s pro rata share of Applied Realized Losses allocated to the related Class Certificate Balance.

• In the event that any such Class is resecuritized in a REMIC, the obligation under the Swap Agreement to pay any such Swap Termination Payment (or any shortfall in the fee to the Swap Provider), will be made by one or more of the REMIC Regular Interests issued by the resecuritization REMIC subsequent to such REMIC Regular Interest receiving its full payment from any such Class A or Subordinated Certificate.

• Any allocation of Realized Losses to a Subordinated Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated.

More Definitions of Subordinated Certificate

Subordinated Certificate. A Subordinated Student Loan Interest Margin Certificate evidencing a fractional undivided beneficial interest in the Trust, substantially in the form of Exhibit C.

Subordinated Certificate means any one of the Certificates that represents the interests of any Subordinated Certificateholder in the Trust, executed and authenticated by the Trustee substantially in the form of Subordinated Certificate attached hereto as EXHIBIT L and having the rights and subject to the limitations applicable to Subordinated Certificates as set forth in this Master Trust Agreement.

Subordinated Certificate. Any Class A-2 Certificate, Class A-3 Certificate, Class B-1 Certificate, Class B-2 Certificate, Class B-3 Certificate, Class B-4 Certificate, Class C Certificate, Class R-I Certificate, Class R-II Certificate or Class R-III Certificate.

Subordinated Certificate. Any Class B, Class C, Class D, Class E, Class F, Class G, Class H, Class J, Class K, Class L, Class M, Class N, Class R-I, Class R-II or Class R-III Certificate.

Subordinated Certificate shall have the meaning specified in Section 6.03 hereof with respect to the Series 1996-1.

Subordinated Certificate. Any of the Certificates designated as such in Section 2.08.

Subordinated Certificate means a Class B, Class C or Residual Certificate.