LR Certificate Sample Clauses
The LR Certificate clause establishes the requirement for a Lloyd's Register (LR) Certificate to be provided as evidence of compliance with specific standards or regulations. In practice, this means that the party responsible must obtain and present a certificate issued by Lloyd's Register, often relating to the safety, quality, or classification of vessels, equipment, or materials. This clause ensures that only certified and approved items or services are used, thereby mitigating risks associated with non-compliance and providing assurance to all parties involved.
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LR Certificate. The Certificate executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-II-A-LR and Exhibit C hereto.
LR Certificate. Notwithstanding any provisions herein to the contrary, on each Distribution Date on and after Financial Security's failure to make a payment with respect to a Class A-12 Distribution Deficiency, distributions in reduction of the Principal Balance of the Class A-12 Certificates (including amounts paid in respect of such losses under the Policy) will be made on a pro rata basis among the Holders of the Class A-12 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.
LR Certificate. Notwithstanding any provisions herein to the contrary, on each Distribution Date on and after Ambac's failure to make a payment with respect to a Class A-3 Distribution Deficiency, distributions in reduction of the Principal Balance of the Class A-3 Certificates (including amounts paid in respect of such losses under the Policy) will be made on a pro rata basis among the Holders of the Class A-3 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.
LR Certificate. Notwithstanding any provisions herein to the contrary, on each Distribution Date on and after MBIA's failure to make an Insured Payment, distributions in reduction of the Principal Balance of the Class I-A-4 Certificates (including amounts paid in respect of such losses under the Policy) will be made on a pro rata basis among the Holders of the Class I-A-4 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.
LR Certificate. Notwithstanding any provisions herein to the contrary, on each Distribution Date on and after FSA's failure to make a payment with respect to a Class A-3 Principal Loss Amount, distributions in reduction of the Principal Balance of the Class A-3 Certificates (including amounts paid in respect of such losses under the Policy) will be made on a pro rata basis among the Holders of the Class A-3 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.
LR Certificate. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on which any principal losses are allocated to the Class A-8 Certificateholders occurring on or after the earliest to occur of (i) the Cross-Over Date, (ii) the date on which Special Hazard Losses exceed the Special Hazard Loss Amount, (iii) the date on which Fraud Losses exceed the Fraud Loss Amount and (iv) the date on which Bankruptcy Losses exceed the Bankruptcy Loss Amount, distributions in reduction of the principal balance of the Class A-8 Certificates (including amounts paid in respect of such losses under the Policy) will be made on a pro rata basis among the Holders of the Class A-8 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.
LR Certificate. Notwithstanding any provisions herein to the contrary, on each Distribution Date on and after the earlier to occur of (i) the Cross-Over Date or (ii) Ambac's failure to make a payment with respect to a Class A-17 Distribution Deficiency, distributions in reduction of the Principal Balance of the Class A-17 Certificates (including amounts paid in respect of such losses under the Policy) will be made on a pro rata basis among the Holders of the Class A-17 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.
LR Certificate. Notwithstanding any provisions herein to the contrary, after any Realized Losses have been allocated to the Class II-A-10, Class II-A-11, Class II-A-12, Class II-A-13, Class II-A-15 or Class II-A-17 Certificates, distributions in reduction of the Principal Balances of the Class II-A-10, Class II-A-11, Class II-A-12, Class II-A-13, Class II-A-15 or Class II-A-17 Certificates will be made on a pro rata basis among the Holders of the Class II-A-10, Class II-A-11, Class II-A-12, Class II-A-13, Class II-A-15 or Class II-A-17 Certificates and will not be made in integral multiples of $1,000 or pursuant to requested distributions or mandatory distributions by random lot.