Exchangeable Certificates and the Class EC Certificates Sample Clauses

Exchangeable Certificates and the Class EC Certificates. (a) Holders of Exchangeable Certificates may surrender their Certificates to the Certificate Administrator and the Certificate Administrator shall convert those Exchangeable Certificates for a like amount of Class EC Certificates in accordance with the terms of this Section 5.09 and the other applicable provisions of Article V hereof. Similarly, holders of the Class EC Certificates may surrender their Certificates to the Certificate Administrator and the Certificate Administrator shall exchange and convert those Certificates for a like amount of the related Classes of Exchangeable Certificates in accordance with the terms of this Section 5.09 and the other applicable provisions of Article V hereof. Exchangeable Certificates in the Exchange Proportion may be exchanged and converted for Class EC Certificates and Class EC Certificates may be exchanged and converted for all three Classes of Exchangeable Certificates in the Exchange Proportion, in each case, in whole or in part. This process may occur repeatedly. In the event that the Certificate Balance of any Class of Exchangeable Certificates is reduced to zero as a result of such Class being paid all interest and principal in full and reimbursement of Collateral Support Deficits, exchanges and conversions shall no longer be permissible. With respect to any exchange and conversion, all three Classes of Exchangeable Certificates will be required in order to exchange and convert such Exchangeable Certificates to Class EC Certificates and Class EC Certificates can be exchanged and converted to all three Classes of Exchangeable Certificates, such exchange and conversion being calculated using the initial Certificate Balances of the individual Certificates being exchanged and converted (rather than the outstanding Certificate Balance), in each case, in the applicable Exchange Proportion. The aggregate Certificate Balance of the Certificates (with each Class rounded down to the nearest whole dollar) received after an exchange and conversion, immediately after the exchange and conversion, must equal the aggregate Certificate Balance of the Certificates (with each Class rounded down to the nearest whole dollar) surrendered for exchange and conversion immediately prior to such exchange and conversion. Each Class of Exchangeable Certificates exchanged and converted or received in any exchange and conversion must be at least its minimum Denomination set forth in Section 5.01. Class EC Certificates will only receive dis...

Related to Exchangeable Certificates and the Class EC Certificates

  • Class PO Certificates Private Certificates...................... Class B-3, Class B-4 and Class B-5 Certificates. Rating Agencies........................... S&P and Moody's. Regular Certificates...................... All Classes of Certificates, other than the Residual Certificates. Residual Certificates..................... Class A-R Certificates. Scheduled Principal Classes............... None.

  • Class R Certificates Subordinated Certificates.... Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class B-4 Certificates.

  • Final Distribution on the Certificates If on any Determination Date, the Master Servicer determines that there are no Outstanding Mortgage Loans and no other funds or assets in the Trust Fund other than the funds in the Certificate Account, the Master Servicer shall direct the Trustee promptly to send a final distribution notice to each Certificateholder. If the Master Servicer elects to terminate the Trust Fund pursuant to clause (a) of Section 9.1, at least 20 days prior to the date notice is to be mailed to the affected Certificateholders, the Master Servicer shall notify the Depositor and the Trustee of the date the Master Servicer intends to terminate the Trust Fund and of the applicable repurchase price of the Mortgage Loans and REO Properties. Notice of any termination of the Trust Fund, specifying the Distribution Date on which Certificateholders may surrender their Certificates for payment of the final distribution and cancellation, shall be given promptly by the Trustee by letter to Certificateholders mailed not earlier than the 10th day and no later than the 15th day of the month next preceding the month of such final distribution. Any such notice shall specify (a) the Distribution Date upon which final distribution on the Certificates will be made upon presentation and surrender of Certificates at the office therein designated, (b) the amount of such final distribution, (c) the location of the office or agency at which such presentation and surrender must be made, and (d) that the Record Date otherwise applicable to such Distribution Date is not applicable, distributions being made only upon presentation and surrender of the Certificates at the office therein specified. The Master Servicer will give such notice to each Rating Agency at the time such notice is given to Certificateholders. In the event such notice is given, the Master Servicer shall cause all funds in the Certificate Account to be remitted to the Trustee for deposit in the applicable subaccounts of the Distribution Account on the Business Day prior to the applicable Distribution Date in an amount equal to the final distribution in respect of the Certificates. Upon such final deposit with respect to the Trust Fund and the receipt by the Trustee of a Request for Release therefor, the Trustee shall promptly release to the Master Servicer the Mortgage Files for the Mortgage Loans. Upon presentation and surrender of the Certificates, the Trustee shall cause to be distributed to the Certificateholders of each Class, in the order set forth in Section 4.2 hereof, on the final Distribution Date, in the case of the Certificateholders, in proportion to their respective Percentage Interests, with respect to Certificateholders of the same Class, an amount equal to (i) as to each Class of Regular Certificates, the Class Certificate Balance thereof plus accrued interest thereon in the case of an interest bearing Certificate, and (ii) as to the Residual Certificates, the amount, if any, which remains on deposit in the Distribution Account (other than the amounts retained to meet claims) after application pursuant to clause (i) above. In the event that any affected Certificateholders shall not surrender Certificates for cancellation within six months after the date specified in the above mentioned written notice, the Trustee shall give a second written notice to the remaining Certificateholders to surrender their Certificates for cancellation and receive the final distribution with respect thereto. If within six months after the second notice all the applicable Certificates shall not have been surrendered for cancellation, the Trustee may take appropriate steps, or may appoint an agent to take appropriate steps, to contact the remaining Certificateholders concerning surrender of their Certificates, and the cost thereof shall be paid out of the funds and other assets which remain a part of the Trust Fund. If within one year after the second notice all Certificates shall not have been surrendered for cancellation, the Holders of each of the Class I-A-R Certificates shall be entitled to all unclaimed funds and other assets of the Trust Fund, held for distribution to such Certificateholders, which remain subject hereto.

  • Membership Certificates The Company may issue a certificate to the Member to evidence the Interest in the Company. The Member or any manager or officer of the Company authorized by the Member may execute such certificate on behalf of the Company.

  • Senior Certificates Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-4, Class 1-A-5, Class 1-A-6, Class 1-A-7, Class 1-A-R, Class 2-A-1, Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 2-A-6, Class 2-A-7, Class 3-A-1, Class 3-A-2, Class 3-A-3, Class 3-A-4, Class 3-A-5, Class 3-A-6 and Class 3-A-7 Certificates.

  • Additional Certificates The Company shall have furnished to the Agents such certificate or certificates, in addition to those specifically mentioned herein, as the Agents may have reasonably requested as to the accuracy and completeness at each Representation Date of any statement in the Registration Statement or the Prospectuses or any documents filed under the Exchange Act and Canadian Securities Laws and deemed to be incorporated by reference into the Prospectuses, as to the accuracy at such Representation Date of the representations and warranties of the Company herein, as to the performance by the Company of its obligations hereunder, or as to the fulfillment of the conditions concurrent and precedent to the obligations hereunder of the Agents.

  • Tax Certificates 10.5.1 All Limited Partners or Assignees (or, if the Limited Partner or Assignee is a nominee holding for the account of a Beneficial Owner, the Beneficial Owner) are required to provide the Partnership with a properly completed Tax Certificate.

  • Distributions on the Certificates (a) Interest and principal on the Certificates (other than the Interest Only Certificates) will be distributed monthly on each Distribution Date, commencing in March 2003, in an amount equal to the Available Funds on deposit in the Distribution Account for such Distribution Date. On each Distribution Date, the Available Funds on deposit in the Distribution Account shall be distributed as follows:

  • Required Certificates Where the Employer requires an employee to be qualified to perform first aid duties, or required to hold certificates or licences, the cost of renewing the required certificate(s) will be borne by the Employer. Time spent at the course for certificates will be considered time worked and will be compensated at the appropriate rate of pay. This does not include the renewal of a Class 5 Driver's License.

  • Single Certificate Section 11.25 Servicing Fee Rate............................................. Section 11.26 Master Servicing Fee Rate...................................... EXHIBITS EXHIBIT A-1 - Form of Face of Class A-1 Certificate EXHIBIT A-2 - Form of Face of Class A-2 Certificate EXHIBIT A-3 - Form of Face of Class A-3 Certificate EXHIBIT A-4 - Form of Face of Class A-4 Certificate EXHIBIT A-5 - Form of Face of Class A-5 Certificate EXHIBIT A-6 - Form of Face of Class A-6 Certificate EXHIBIT A-7 - Form of Face of Class A-7 Certificate EXHIBIT A-8 - Form of Face of Class A-8 Certificate EXHIBIT A-PO - Form of Face of Class A-PO Certificate EXHIBIT A-R - Form of Face of Class A-R Certificate EXHIBIT A-LR - Form of Face of Class A-LR Certificate EXHIBIT B-1 - Form of Face of Class B-1 Certificate EXHIBIT B-2 - Form of Face of Class B-2 Certificate EXHIBIT B-3 - Form of Face of Class B-3 Certificate EXHIBIT B-4 - Form of Face of Class B-4 Certificate EXHIBIT B-5 - Form of Face of Class B-5 Certificate EXHIBIT B-6 - Form of Face of Class B-6 Certificate EXHIBIT C - Form of Reverse of Series 2002-15 Certificates EXHIBIT D - Reserved EXHIBIT E - Custodial Agreement EXHIBIT F-1 - Schedule of Type 1 Mortgage Loans EXHIBIT F-2 - Schedule of Type 2 Mortgage Loans EXHIBIT F-3 - Schedule of Other Servicer Mortgage Loans EXHIBIT G - Request for Release EXHIBIT H - Affidavit Pursuant to Section 860E(e)(4) of the Internal Revenue Code of 1986, as amended, and for Non-ERISA Investors EXHIBIT I - Letter from Transferor of Residual Certificates EXHIBIT J - Transferee's Letter (Class [B-4] [B-5] [B-6] Certificates) EXHIBIT K - [Reserved] EXHIBIT L - Servicing Agreements EXHIBIT M - Form of Special Servicing Agreement EXHIBIT N Form of Initial Certification of the Custodian EXHIBIT O Form of Final Certification of the Custodian SCHEDULE I - Applicable Unscheduled Principal Receipt Period This Pooling and Servicing Agreement, dated as of July 29, 2002 executed by XXXXX FARGO ASSET SECURITIES CORPORATION, as Seller, XXXXX FARGO BANK MINNESOTA, NATIONAL ASSOCIATION, as Master Servicer and WACHOVIA BANK, NATIONAL ASSOCIATION, as Trustee.