Securitization Trust Sample Clauses
A Securitization Trust clause establishes a legal entity or arrangement that holds financial assets, such as loans or receivables, for the purpose of issuing securities backed by those assets. In practice, this clause outlines how assets are transferred into the trust, the rights and responsibilities of the trustee, and the mechanisms for distributing payments to investors. By creating a separate trust structure, the clause facilitates the pooling and isolation of assets, enabling efficient securitization and protecting investors from the credit risk of the original asset holder.
Securitization Trust. The Servicer may at its option purchase the corpus of the 1999-A Securitization Trust at a price specified in the 1999-A Securitization Trust Agreement, and such purchase of the 1999-A SUBI, the Retained 1999-A SUBI Certificates and other property of the 1999-A Securitization Trust will effect early retirement of this Certificate; PROVIDED, HOWEVER, such right of purchase is exercisable only on the Distribution Date following the last day of a Collection Period as of which the sum of the Note Balance and the Certificate Balance shall be less than or equal to ten percent (10%) of the sum of the Initial Note Balance and the Initial Certificate Balance. Unless the certificate of authentication hereon shall have been executed by an authorized officer of the 1999-A Owner Trustee, by manual signature, this Certificate shall not entitle the Certificateholder hereof to any benefit under the 1999-A Securitization Trust Agreement or be valid for any purpose. THIS CERTIFICATE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF THE STATE OF DELAWARE, WITHOUT REFERENCE TO ITS CONFLICTS OF LAW PROVISIONS, AND THE OBLIGATIONS, RIGHTS AND REMEDIES OF THE PARTIES HEREUNDER SHALL BE DETERMINED IN ACCORDANCE WITH SUCH LAWS.
Securitization Trust. The Transferor hereby grants to the 1997-A Securitization Trustee for the benefit of the Investor Certificateholders a security interest in all funds (including Permitted Investments) in the Reserve Fund (including the Reserve Fund Initial Deposit) and the proceeds thereof, and the 1997-A Securitization Trustee shall have all of the rights of a secured party under the UCC with respect thereto; PROVIDED that all income from the investment of funds in the Reserve Fund and the right to receive such income are retained by the Transferor and are not transferred, assigned or otherwise conveyed to the 1997-A Securitization Trustee. The Reserve Fund shall be an Eligible Account and initially shall be established with the 1997-A Securitization Trustee. If for any reason the Reserve Fund is no longer an Eligible Account, the 1997-A Securitization Trustee shall promptly cause the Reserve Fund to be moved to another institution or otherwise changed so that the Reserve Fund becomes an Eligible Account.
Securitization Trust. 20 ----------- Note: This table of contents shall not, for any purpose, be deemed to be a part of the Indenture. Page
Securitization Trust. Upon the occurrence of (i) any Event of Default under the Swap Agreement arising from any action taken, or failure to act, by the Swap Counterparty of which a Trust Officer or the 1998-C Securitization Trustee has actual knowledge, or (ii) a Termination Event under the Swap Agreement of which a Trust Officer or the 1998-C Securitization Trustee has actual knowledge (except as described in the following sentence) with respect to which the Swap Counterparty is an Affected Party (as defined in the Swap Agreement), the 1998-C Securitization Trustee may and will, at the direction of 51% of the Voting Interest of the Certificateholders, by notice to the Swap Counterparty, designate an Early Termination Date with respect to the Swap Agreement. If a Termination Event under the Swap Agreement occurs (i) as a result of the insolvency or bankruptcy of the Transferor or (ii) because the Trust or the Transferor becomes subject to registration as an "Investment Company" under the Investment Company Act of 1940, the 1998C Securitization Trustee shall terminate the Swap Agreement. If the 1998-C Securitization Trust or the Swap Counterparty elects to designate an Early Termination Date and thereafter to terminate the Swap Agreement and liquidate the assets of the 1998-C Securitization Trust, the 1998-C Securitization Trustee will specify in a further notice to the Class A Certificateholders the date elected, and shall also deliver such notice to the Luxembourg Stock Exchange. As soon as the 1998-C Securitization Trustee is reasonably able to do so, it will so publish and deliver a further notice to each such party specifying the date on which the net proceeds of such liquidation are to be allocated and applied or paid pursuant to Section 3.01(o). In the event that a Swap Termination Event occurs, whether because the 1998-C Securitization Trust elects to designate or receives appropriate direction from the relevant Certificateholders to designate an Early Termination Date, or because the Swap Counterparty elects to designate an Early Termination Date, the 1998-C Securitization Trustee shall sell or otherwise dispose of the SUBI, the 1998-C SUBI Certificate and such other property of the Trust in accordance with Section 8.02(c).
Securitization Trust. If for any reason the Reserve Fund is no longer an Eligible Account, the Servicer shall, with the assistance of the 1999-A Indenture Trustee, promptly cause the Reserve Fund to be moved to another institution or otherwise changed so that the Reserve Fund becomes an Eligible Account. The 1999-A Indenture Trustee shall retain, subject to the provisions of this 1999-A Securitization Trust Agreement and the other 1999-A Securitization Documents, all collections on or in respect of the 1999-A SUBI Interest transferred to the 1999-A Indenture Trustee, on behalf of the Noteholders, in accordance with such provisions, in the 1999-A Note Distribution Account or the Reserve Fund, as the case may be. The 1999-A Indenture Trustee shall be deemed to have possession of such monies and collections for purposes of Section 9-305 of the UCC of the jurisdiction in which such property is located.
Securitization Trust. Each real estate mortgage investment conduit or other trust described on Schedule 1-B, as it may be amended from time to time in accordance with Section 2.1(c).
Securitization Trust. The Transferor hereby grants to the 1998-C Securitization Trustee for the benefit of the Investor Certificateholders a security interest in all
Securitization Trust. Notwithstanding the foregoing, without the non-transferring Note Holder’s prior consent (which will not be unreasonably withheld), and, if such non-transferring Note Holder’s Note is held in a Securitization Trust, until a Rating Agency Confirmation is obtained, no Note Holder shall Transfer all or any portion of its Note (or a participation interest in such Note) to a Borrower Party and any such Transfer made without the prior consent of the non-transferring Note Holder and Rating Agency Confirmation (if such non-transferring Note Holder’s Note is held in a Securitization Trust), shall be absolutely null and void and shall vest no rights in the purported transferee; provided that for the avoidance of doubt, transfers of any securities backed by a Note held in a Securitization Trust will not be subject to the foregoing requirement and such transfers shall be governed by the terms of the Lead Securitization Servicing Agreement or any related Non-Lead Securitization Servicing Agreement, as applicable. The transferring Note Holder agrees that it shall pay the expenses of the non-transferring Note Holder (including all expenses of the Master Servicer, the Special Servicer, the Trustee and any Controlling Note Holder or Controlling Note Holder Representative) and all expenses relating to any Rating Agency Confirmation in connection with any such Transfer. Notwithstanding the foregoing, each Note Holder shall have the right, without the need to obtain the consent of the other Note Holder or of any other Person or having to provide any Rating Agency Confirmation, to Transfer 49% or less (in the aggregate) of its beneficial interest in a Note. None of the provisions of this Section 14(a) shall apply in the case of (1) a sale of all of the Notes together, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement or (2) a transfer by the Special Servicer, in accordance with the terms and conditions of the Lead Securitization Servicing Agreement, of the Mortgage Loan or the Mortgaged Property, upon the Mortgage Loan becoming a Defaulted Loan to a single member limited liability or limited partnership, 100% of the equity interest in which is owned directly or indirectly, through one or more single member limited liability companies or limited partnerships, by the Lead Securitization Trust.
Securitization Trust. The Transferor hereby grants to the 1998-C Securitization Trustee for the benefit of the Investor Certificateholders a security interest in all funds (including Permitted Investments) in the Reserve Fund (including the Reserve Fund Initial Deposit) and the proceeds thereof, and the 1998-C Securitization Trustee shall have all of the rights of a secured party under the UCC with respect thereto; provided that all income from the investment of funds in the Reserve Fund and the right to receive such income are retained by the Transferor and are not transferred, assigned or otherwise conveyed to the 1998-C Securitization Trustee hereunder. The Reserve Fund shall be an Eligible Account and initially shall be established with the 1998-C