The Grantor Trust Certificates Sample Clauses

The Grantor Trust Certificates. (a) The Depository, the Depositor and the Grantor Trust Trustee have entered into a letter agreement dated as of October 24, 2007 (the “Depository Agreement”). Except as provided in Subsection 4.01(b), the Grantor Trust Certificates shall at all times remain registered in the name of the Depository or its nominee and at all times: (i) registration of such Grantor Trust Certificates may not be transferred by the Grantor Trust Trustee except to a successor to the Depository; (ii) ownership and transfers of registration of such Grantor Trust Certificates on the books of the Depository shall be governed by applicable rules established by the Depository; (iii) the Depository may collect its usual and customary fees, charges and expenses from its Depository Participants; (iv) the Grantor Trust Trustee shall deal with the Depository as representative of the Grantor Trust Certificate Owners for purposes of exercising the rights of Grantor Trust Certificateholders under this Agreement, and requests and directions for and votes of such representative shall not be deemed to be inconsistent if they are made with respect to different Grantor Trust Certificate Owners; and (v) the Grantor Trust Trustee may rely and shall be fully protected in relying upon information furnished by the Depository with respect to its Depository Participants. All transfers by Grantor Trust Certificate Owners of Grantor Trust Certificates shall be made in accordance with the procedures established by the Depository Participant or brokerage firm representing such Grantor Trust Certificate Owners. Each Depository Participant shall only transfer Grantor Trust Certificates of Grantor Trust Certificate Owners it represents or of brokerage firms for which it acts as agent in accordance with the Depository’s normal procedures.
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The Grantor Trust Certificates. Section 5.01 The Grantor Trust Certificates.
The Grantor Trust Certificates. Section 5.01 The Grantor Trust Certificates.................................16 Section 5.02 Registration of Transfer and Exchange of Grantor Trust Certificates.............................................17 Section 5.03 Mutilated, Destroyed, Lost or Stolen Grantor Trust Certificate....................................................19 Section 5.04 Persons Deemed Owners..........................................19
The Grantor Trust Certificates. Each class of Grantor Trust Certificates shall be substantially in the form set forth in Exhibit A and shall, on original issue, be executed and delivered by the Grantor Trustee to the Grantor Trust Certificate Registrar for authentication and delivery to or upon the order of the Depositor upon receipt by the Grantor Trustee or one or more Custodians of the documents specified in Section 2.01. Each class of Grantor Trust Certificates shall be issued in a single certificate, in fully registered, definitive form, representing not less than 100% percentage interest in such class of Grantor Trust Certificates. The Class A Grantor Trust Certificate evidences the entire beneficial ownership of the Mortgage Loans and the proceeds thereof, other than amounts that are payable in respect of the Class B Grantor Trust Certificates. The rights of the Grantor Trust Certificateholders to receive distributions from the proceeds of the Grantor Trust, and all ownership interests of the Grantor Trust Certificateholder in such distributions, shall be as set forth in this Agreement. The Class B Grantor Trust Certificate evidences the right to receive any and all income and gain realized from any investment of funds in the Master Servicer Collection Account in excess of the two Business Days of investment income payable to the Master Servicer pursuant to Section 2.13 of the Servicing Agreement and the right to receive any and all income and gain realized from any investment of funds in the Payment Account pursuant to Section 3.01(c) of the Indenture (the sum of such amounts, the "Class B Grantor Trust Certificate Payment Amount"). The risk of loss of moneys required to be distributed to the Grantor Trust Certificateholders resulting from such investments shall be borne by and be the risk of the Class B Grantor Trust Certificateholder. The Class B Grantor Trust Certificateholder shall remit the related Loss Allocation Amount to the Securities Administrator for deposit into the Payment Account not later than 3:00 p.m. New York time on the Business Day prior to the related Payment Account Deposit Date, and any loss of investment of funds in the Payment Account no later than 10:00 a.m. New York time on the related Payment Date. The Grantor Trust Certificates shall be executed by manual or facsimile signature on behalf of an authorized officer of the Grantor Trustee. The Grantor Trust Certificates bearing the manual or facsimile signatures of individuals who were at any time the pro...
The Grantor Trust Certificates. Section 4.01.
The Grantor Trust Certificates 

Related to The Grantor Trust Certificates

  • The Trust Certificates The Trust Certificates shall be issued in minimum denominations of $100,000 and integral multiples thereof; provided, however, that one Trust Certificate may be issued in such denomination as required to include any residual amount. The Trust Certificates shall be executed by the Owner Trustee on behalf of the Issuer by manual or facsimile signature (which signature may be a scanned electronic version) of an authorized officer of the Owner Trustee and shall have deemed to have been validly issued when so executed and authenticated (as set forth in Section 3.03 below). Trust Certificates bearing the manual or facsimile signatures (which signature may be a scanned electronic version) of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Owner Trustee, shall be validly issued and binding obligations of the Issuer and entitled to the benefit of this Agreement, notwithstanding that such individuals or any of them shall have ceased to be so authorized prior to the authentication and delivery of such Trust Certificates or did not hold such offices at the date of authentication and delivery of such Trust Certificates. A transferee of a Trust Certificate shall become a Certificateholder and shall be entitled to the rights and subject to the obligations of a Certificateholder hereunder upon such transferee’s acceptance of a Trust Certificate duly registered in such transferee’s name pursuant to Section 3.04.

  • Trust Certificates The Trustee hereby acknowledges receipt, on or prior to the Closing Date, of:

  • Owner Trustee May Own Trust Certificates and Notes The Owner Trustee in its individual or any other capacity may become the owner or pledgee of Trust Certificates or Notes and may deal with the Depositor, the Administrator, the Indenture Trustee and the Servicer in banking transactions with the same rights as it would have if it were not Owner Trustee.

  • The Certificates The Certificates shall be substantially in the forms attached hereto as exhibits. The Certificates shall be issuable in registered form, in the minimum denominations, integral multiples in excess thereof (except that one Certificate in each Class may be issued in a different amount which must be in excess of the applicable minimum denomination) and aggregate denominations per Class set forth in the Preliminary Statement. Subject to Section 9.02 hereof respecting the final distribution on the Certificates, on each Distribution Date the Trustee shall make distributions to each Certificateholder of record on the preceding Record Date either (x) by wire transfer in immediately available funds to the account of such holder at a bank or other entity having appropriate facilities therefor, if (i) such Holder has so notified the Trustee at least five Business Days prior to the related Record Date and (ii) such Holder shall hold (A) a Notional Amount Certificate, (B) 100% of the Class Certificate Balance of any Class of Certificates or (C) Certificates of any Class with aggregate principal Denominations of not less than $1,000,000 or (y) by check mailed by first class mail to such Certificateholder at the address of such holder appearing in the Certificate Register. The Certificates shall be executed by manual or facsimile signature on behalf of the Trustee by an authorized officer. Certificates bearing the manual or facsimile signatures of individuals who were, at the time when such signatures were affixed, authorized to sign on behalf of the Trustee shall bind the Trustee, notwithstanding that such individuals or any of them have ceased to be so authorized prior to the countersignature and delivery of such Certificates or did not hold such offices at the date of such Certificate. No Certificate shall be entitled to any benefit under this Agreement, or be valid for any purpose, unless countersigned by the Trustee by manual signature, and such countersignature upon any Certificate shall be conclusive evidence, and the only evidence, that such Certificate has been duly executed and delivered hereunder. All Certificates shall be dated the date of their countersignature. On the Closing Date, the Trustee shall countersign the Certificates to be issued at the direction of the Depositor, or any affiliate thereof. The Depositor shall provide, or cause to be provided, to the Trustee on a continuous basis, an adequate inventory of Certificates to facilitate transfers.

  • Definitive Trust Certificates The Trust Certificates, upon original issuance, will be issued in definitive, fully registered form.

  • Trust Certificates and Transfer of Interests SECTION 3.01 [Reserved].

  • Authentication of Trust Certificates On the Closing Date, the Owner Trustee shall cause the Trust Certificates to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor signed by the Depositor’s president, any vice president, secretary, treasurer or any assistant treasurer, without further company action by the Depositor. No Trust Certificate shall entitle a Certificateholder to any benefit under this Agreement or be valid for any purpose unless there shall appear on such Trust Certificate a certificate of authentication substantially in the form set forth in Exhibit A, executed by the Owner Trustee or the Certificate Registrar, as its authenticating agent, by manual signature; such authentication shall constitute conclusive evidence that such Trust Certificate shall have been duly authenticated and delivered hereunder. All Trust Certificates shall be dated the date of their authentication.

  • Grantor Trust The Trust is intended to be a grantor trust, of which the Sponsor is the grantor, within the meaning of subpart E, part I, subchapter J, chapter 1, subtitle A of the Code, as amended, and shall be construed accordingly.

  • 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.

  • Depositor as Certificateholder The Depositor in its individual or any other capacity may become the owner or pledgee of Certificates and may otherwise deal with the Owner Trustee or its Affiliates as if it were not the Depositor.

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