Tax Matters Person Residual Interest definition

Tax Matters Person Residual Interest. A 0.000001% interest in each of the Class R-1, Class R-2 and Class R-3 Certificates, which shall be issued to and held by the Tax Matters Person.

Tax Matters Person Residual Interest. The 100% interest in the Class R Certificates and the Lower-Tier REMIC Residual Class, each of which shall be issued to and held by Advanta Conduit Receivables, Inc. throughout the term hereof unless another Person shall accept an assignment of such interest and the designation of Tax Matters Person pursuant to Section 11.17 hereof.

Tax Matters Person Residual Interest. The 0.001% interest in the Class R Certificates and the Lower-Tier REMIC Residual Class, each of which shall be issued to and held by The Chase Manhattan Bank throughout the term hereof unless another person shall accept an assignment of either such interest and the designation of Tax Matters Person pursuant to Section 11.18 hereof.

Examples of Tax Matters Person Residual Interest in a sentence

• The Tax Matters Person shall at all times hold the Tax Matters Person Residual Interest and shall have the same duties with respect to the Trust as those of a "tax matters partner" under Subchapter C of Chapter 63 of Subtitle F of the Code.

• The tax matters person with respect to each REMIC (the "Tax Matters Person") shall be the holder of the Tax Matters Person Residual Interest which initially is the Seller.

• The tax matters person with respect to each REMIC (the “Tax Matters Person”) shall be the holder of the Tax Matters Person Residual Interest which initially is the Seller.

• The Lower-Tier REMIC Residual Class is not transferable except that the Owner of the Tax Matters Person Residual Interest in the Lower-Tier REMIC may assign its interest to another Person who accepts such assignment and the designation as Tax Matters Person pursuant to Section 11.18 hereof.

• The Tax Matters Person shall at all times hold the Tax Matters Person Residual Interest and shall have the same duties with respect to the Trust as those of a “tax matters partner” under Subchapter C of Chapter 63 of Subtitle F of the Code.

More Definitions of Tax Matters Person Residual Interest

Tax Matters Person Residual Interest. The interest in each Class of Class R Certificates acquired by the Tax Matters Person pursuant to Section 2.06(d) hereof.

Tax Matters Person Residual Interest. A 0.000001% interest in the Class R Certificates, which shall be issued to and held by the Trustee.

Tax Matters Person Residual Interest. The 0.001% interest in each Class of the Residual Certificates issued to and held by ContiFunding Corporation throughout the term hereof unless another Person shall accept an assignment of such interest and the designation of Tax Matters Person pursuant to Section 11.18 hereof.

Tax Matters Person Residual Interest. The 0.001% interest in the "residual interest" in the Trust Fund, which shall be issued to and held by the Trustee throughout the term hereof unless another Person shall accept an assignment of such interest and the designation of Tax Matters Person pursuant to Section 11.18 hereof.

Tax Matters Person Residual Interest. The 100% interest in the Class R-I Certificate and the Class R-II Certificate, each of which shall be issued to and held by the Designated Residual Owner or certain affiliates throughout the term hereof unless another person that is not a Disqualified Organization shall accept an assignment of such interest and the designation of Tax Matters Person pursuant to Section 11.17 hereof.

Tax Matters Person Residual Interest. The 0.001% interest in the Class R Certificates, which shall be issued to and held by Norwest Bank Minnesota, National Association throughout the term hereof unless another Person shall accept an assignment of such interest and the designation of Tax Matters Person pursuant to Section 11.18 hereof.

Tax Matters Person Residual Interest. The 0.001% interest in the Class R Certificates which shall be issued to and held by Norwest Bank Minnesota, National Association throughout the term hereof unless another person shall accept an assignment of such interest and the designation of Tax Matters Person pursuant to Section 11.18 hereof.