Uncertificated Interest Owner definition
Examples of Uncertificated Interest Owner in a sentence
No interest shall accrue or be payable to any Trust Certificateholder or Uncertificated Interest Owner on any amount held as a result of such Trust Certificateholder’s failure to surrender its Trust Certificate(s) or such Uncertificated Interest Owner’s failure to surrender its Uncertificated Interest, as applicable, for final payment thereof in accordance with this Section 9.01.
In the event the Paying Agent or its agent withholds any amount from interest or original issue discount payments or advances thereof to any Trust Certificateholder or Uncertificated Interest Owners pursuant to federal withholding requirements, the Paying Agent shall indicate the amount withheld to such Trust Certificateholder or such Uncertificated Interest Owner.
Any amount so withheld shall be treated as having been distributed to such Trust Certificateholder or such Uncertificated Interest Owner for all purposes of this Agreement.
The Operating Advisor’s duties shall be limited to its specific obligations under this Agreement, and the Operating Advisor shall have no duty or liability to any particular Class of Trust Certificates or any Uncertificated Interest or any Trust Certificateholder or any Uncertificated Interest Owner.
The death or incapacity of any Trust Certificateholder or any Uncertificated Interest Owner shall not operate to terminate this Agreement or the Trust Fund, nor entitle such Trust Certificateholder’s or Uncertificated Interest Owner’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.
If the Trust Fund is not terminated on any Anticipated Termination Date for any reason, the Certificate Administrator shall promptly mail notice thereof to each affected Trust Certificateholder and each affected Uncertificated Interest Owner.
Each Uncertificated Interest Owner and, by its acceptance of a Certificate, each Certificateholder acknowledges and agrees that there could be multiple strategies to resolve any Specially Serviced Loan and a variety of actions or decisions made with respect to any Major Decision and that the goal of the Operating Advisor’s participation is to provide additional input relating to the Special Servicer’s compliance with the Servicing Standard in making its determinations as to which strategy to execute.
The death or incapacity of any Certificateholder or any Uncertificated Interest Owner shall not operate to terminate this Agreement or the Trust Fund, nor entitle such Certificateholder’s or Uncertificated Interest Owner’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of the Trust Fund, nor otherwise affect the rights, obligations and liabilities of the parties hereto or any of them.
Any such election by the Master Servicer, the Special Servicer or the Trustee shall not be construed to impose any duty on any other such party to make such an election (or any entitlement in favor of any Certificateholder, any Uncertificated Interest Owner or any other Person to such an election).
The Operating Advisor’s duties shall be limited to its specific obligations under this Agreement, and the Operating Advisor shall have no duty or liability to any particular Class of Certificates or any Uncertificated Interest or any Certificateholder or any Uncertificated Interest Owner.