Class B-1 Certificate definition

Class B-1 Certificate. Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-1 and Exhibit C hereto. Class B-1 Certificateholder: The registered holder of a Class B-1 Certificate.

Class B-1 Certificate. Any of the Class B-1 Certificates as designated on the face thereof, executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit C, evidencing the ownership of a “regular interest” in the Upper Tier REMIC created hereunder and representing the right to distributions as set forth herein and therein.

Class B-1 Certificate. Any Certificate designated as a "Class B-1 Certificate" on the face thereof, in the form of Exhibit A hereto, representing the right to distributions as set forth herein.

Examples of Class B-1 Certificate in a sentence

• Each Securityholder of a Class B-1 Certificate or beneficial interest therein will represent or will be deemed to represent and warrant that it is not a Benefit Plan Investor.

• Each Class B-1 Certificateholder (and the related Security Owner), by its acquisition of an interest in a Class B-1 Certificate, hereby agrees that, for federal, state, and local income and other tax purposes, to treat the Class B-1 Certificates in part as a limited recourse guarantee contract and in part as an interest-bearing collateral arrangement.

• Additionally, notransfer of a Class B-1 Certificate in Definitive Form (whether as a Rule 144A Security or a Regulation S Security) will be made to any Person or be effective unless the Registrar and the Indenture Trustee have received an affidavit from the transferee in the form of Exhibit M-3 hereto, certifying that the transferee is not a Benefit Plan Investor.

• Additionally, no transfer of a Class B-1 Certificate in Definitive Form will be made to any Person or be effective unless the Registrar and the Indenture Trustee have received an affidavit from the transferee in the form of Exhibit M-3 hereto, certifying that the transferee is not a Benefit Plan Investor.

• The Issuer and each Holder of a Class B-1 Certificate, by acceptance of a Class B-1 Certificate, will agree to treat the Class B-1 Certificates in part as a limited recourse guarantee contract and in part as an interest-bearing collateral arrangement for U.S. federal income tax purposes.

More Definitions of Class B-1 Certificate

Class B-1 Certificate. Any Certificate designated as a “Class B-1 Certificate” on the face thereof, in the form of Exhibit A-3 hereto, representing the right to its Percentage Interest of distributions provided for the Class B-1 Certificates as set forth herein and evidencing (i) a Regular Interest in REMIC III, (ii) the right to receive Basis Risk Shortfall Carry Forward Amounts and (iii) the obligation to pay Class IO Distribution Amounts.

Class B-1 Certificate means any one of the Class B-1 Certificates executed and delivered by the Trustee substantially in the form set forth in Exhibit C-1 hereto and evidencing an interest designated as a "regular interest" in the Master REMIC for purposes of the REMIC Provisions.

Class B-1 Certificate. Any one of the Class B-1 Certificates executed by the Depositor and authenticated by the Trustee, subordinated in right of payment to the Class A and Class M Certificates, substantially in the form of the Class B Certificate set forth in Exhibit E hereto.

Class B-1 Certificate. Any one of the Class B-1 Certificates executed, authenticated and delivered by the Trust Administrator, substantially in the form annexed hereto as Exhibit A-5 and evidencing a Regular Interest in REMIC II for purposes of the REMIC Provisions.

Class B-1 Certificate. Any one of the Class B-1 Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-10, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 2.

Class B-1 Certificate. Any one of the Class B-1 Certificates executed, authenticated and delivered by the Trustee substantially in the form annexed hereto as Exhibit B, subordinate to the Senior Certificates with respect to distributions and the allocation of Realized Losses as set forth in Section 4.04 and evidencing an interest designated as a "regular interest" in the Trust Fund for purposes of the REMIC Provisions.

Class B-1 Certificate. Any one of the Class I-B-1 Certificates or Class II-B-1 Certificates.