Class P Certificates Sample Clauses
The "Class P Certificates" clause defines a specific class of certificates issued under a securitization or trust agreement, typically representing a particular interest or right in the underlying pool of assets. These certificates may have unique payment priorities, voting rights, or loss allocations compared to other classes, and are often used to structure the distribution of cash flows or residual interests. The core function of this clause is to clearly delineate the rights and obligations associated with Class P Certificates, ensuring transparency and proper allocation of payments and risks among certificate holders.
Class P Certificates. Component Certificates..................... None.
Class P Certificates. 18 TABLE OF CONTENTS (continued)
Class P Certificates. The Class P Certificates executed by the Trustee and authenticated by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A, evidencing beneficial ownership of the Class P Distributable Amount.
Class P Certificates. COFI Certificates.............................. None. Components..................................... None. Component Certificates......................... None. Delay Certificates............................. Class A-R Certificates. ERISA-Restricted Certificates.................. The Private Certificates and Residual Certificates; and Certificates of any Class that does not or no longer has a rating of BBB- or its equivalent, or better, from at least one Rating Agency.
Class P Certificates. Mezzanine Certificates................................ Class M1 and Class M2 Certificates. Non-Offered Certificates.............................. Class B-IO, Class X, Class P and Residual Certificates. Offered Certificates.................................. Class A, Class A-IO and Subordinated Offered Certificates. Physical Certificates................................. Class B-IO, Class X, Class P and Residual Certificates. Regular Certificates.................................. All Classes of Certificates other than the Residual Certificates. Residual Certificates................................. Class R Certificates. Subordinated Certificates............................. Class X, Class B-IO and Subordinated Offered Certificates. Subordinated Offered Certificates..................... Mezzanine Certificates and Class B Certificates. In consideration of the mutual agreements herein contained, the Depositor, the Servicer and the Trustee agree as follows:
Class P Certificates. Components......................
Class P Certificates. 13 Class P-L Regular Interests ................................. 13 Class P-M Regular Interests ................................. 13
Class P Certificates. $100. The Class X-1 Certificates will be issued as a single Certificate with a Certificate Principal Balance of $2.61. The Class X-2 Certificates will not have a principal balance.
Class P Certificates. Senior Certificates.................... Class A-1, Class A-2, Class A-X-1, Class A-X-2 and Class A-R Certificates. Subordinated Certificates.............. Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates. Targeted Principal Classes............. None.
Class P Certificates. 9 Class P-L Regular Interests. . . . . . . . . . . . . . . . . . . . . . . . . 9