Asset Backed Certificates. (herein called the "Certificate"). Also issued under the Indenture, dated as of _______, 200_, between the Trust and [Indenture Trustee], as indenture trustee, are [five] classes of Notes designated as "[Class A-1 ____% Asset Backed Notes]", "[Class A-2 ____% Asset Backed Notes]", "[Class A-3 ____% Asset Backed Notes]", "[Class A-4 ____% Asset Backed Notes]" and the "Class B ____% Asset Backend Notes" (the "Class B Notes"). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property of the Trust includes a pool of retail installment sale contracts secured by new and used automobiles and light duty trucks (the "Receivables"), all monies due thereunder after the Cutoff Date, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, and all right, title and interest of the Depositor in and to the Purchase Agreement dated as of ______, 200_ between Triad Financial Corporation and the Depositor and all proceeds of the foregoing. The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders [and the Security Insurer] as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable. Distributions on this Certificate will be made as provided in the Trust Agreement and the Sale and Servicing Agreement by the Indenture Trustee by wire transfer or check mailed to the Certificateholder without the presentation or surrender of this Certificate or the making of any notation hereon. Except as otherwise provided in the Trust Agreement or the Sale and Servicing Agreement and notwithstanding the above, the final distribution on this Certificate will be made after due notice by the Owner Trustee of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency maintained for the purpose by the Owner Trustee. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions will for all purposes have the same effect as if set forth at...
Asset Backed Certificates. (herein called the "Trust Certificates"). Also issued under an
Asset Backed Certificates. (herein called the "Certificates"). Also issued under the Indenture dated as of June 20, 1997, between Issuer and Bankers Trust Company as Indenture Trustee, are three classes of Notes designated as "Class A 6.35% Asset Backed Notes" (the "Class A Notes"), "Class B 6.65% Asset Backed Notes" (the "Class B Notes") and "Class C 7.20% Asset Backed Notes" (the "Class C Notes" and, together with the Class A Notes and the Class B Notes, the "Notes"). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. TRUST AGREEMENT The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights of the Noteholders as described in the Sale and Servicing Agreement, the Indenture and the Trust Agreement, as applicable. It is the intent of Seller, Servicer, Depositor and Certificateholders that, for purposes of Federal income taxes, until the Certificates are held by more than one person, the Issuer will be disregarded as an entity separate from its owner. If the Certificates are held by more than one person or the Issuer is recharacterized as a separate entity, it is the intent of Seller, Servicer, Depositor and Certificateholders that, for purposes of Federal income taxes, the Issuer will be treated as a partnership and the Certificateholders (including Depositor) will be treated as partners in that partnership. Depositor and the other Certificateholders by acceptance of a Certificate, agree to treat, and to take no action inconsistent with the treatment of, the Certificates for such tax purposes. Each Certificateholder, by its acceptance of a Certificate, covenants and agrees that such Certificateholder will not at any time institute against Depositor, or join in any institution against Depositor of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Certificates, the Notes, the Trust Agreement or any of the Basic Documents. The Certificates do not represent an obligation of, or an interest in, Seller, Servicer, Administrator, Depositor, Owner Trustee or any Affiliates of any of them and no recourse may be had against such parti...
Examples of Asset Backed Certificates in a sentence
This Certificate is one of the duly authorized Certificates designated as Asset Backed Certificates (the “Certificates”).
This [Temporary Regulation S Global] [Permanent Regulation S Global] [Rule 144A Global] Certificate is one of the duly authorized Certificates designated as Asset Backed Certificates (the “Certificates”).
Simultaneously with the issuance of the Notes, the Depositor will cause the Trust to issue Asset Backed Certificates (the “Certificates” and together with the Notes, the “Securities”).
Each series of Securities issued by a Trust may include one or more classes of Asset Backed Notes (the “Notes”) and one or more classes of Asset Backed Certificates (the “Certificates”).
Fixed and Floating Rate Asset Backed Certificates INDICATE BY CHECK MARK WHETHER THE REGISTRANT HAS (1) FILED ALL REPORTS REQUIRED TO BE FILED BY SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS REQUIRED TO FILE SUCH REPORTS) AND (2) HAS BEEN SUBJECT TO SUCH FILING REQUIREMENTS FOR THE PAST 90 DAYS.
More Definitions of Asset Backed Certificates
Asset Backed Certificates. (herein called the "Certificates"). Also issued under an Indenture dated as of June 28, 2007 (as amended, supplemented or otherwise modified from time to time, the "Indenture"), between the Issuer and The Bank of New York, as indenture trustee, are the Notes. This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the Holder of this Certificate by virtue of its acceptance hereof assents and by which such Certificateholder is bound. The property of the Issuer consists of the Trust Property. The rights of the Certificateholders are subordinate to the rights of the Noteholders, as set forth in the Indenture. Under the Trust Agreement, there will be distributed on the 15th day of each month or, if such 15th day is not a Business Day, the next Business Day (each, a "Payment Date"), commencing on July 16, 2007, to the Person in whose name this Certificate is registered on the last day of the immediately preceding month (the "Record Date"), such Certificateholder's fractional undivided interest in the amount to be distributed to Certificateholders on such Payment Date. The Holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinate to the rights of the Noteholders as described in the Sale and Servicing Agreement and the Indenture.
Asset Backed Certificates. (herein called the "Trust Certificates") issued under and subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Trust Certificate by virtue of the acceptance hereof assents and by which holder is bound.
Asset Backed Certificates. The Certificates are issued under and are subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the Holder of this Certificate, by virtue of the acceptance hereof, assents and by which such Holder is bound. Under the Indenture dated as of April 1, 2000 (the "Indenture") between the Trust and Bankers Trust Company of California, N.A., as indenture trustee (the "Indenture Trustee"), the Trust issued the Advanta Revolving Home Equity Loan Asset Backed Notes, Series 2000-A (the "Notes"). The property of the Trust includes a pool of adjustable rate revolving home equity credit line loans secured by first or second deeds of trust or mortgages on primarily one-to-four family residential properties. Under the Trust Agreement, there will be distributed on the 25th day of each month or, if such 25th day is not a Business Day, the next Business Day (the "Payment Date"), commencing on May 25, 2000, to the Person in whose name this Certificate is registered at the close of business on the Business Day preceding such Payment Date (the "Record Date") such Certificateholder's Percentage Interest in the amount to be distributed to Certificateholders on such Payment Date.
Asset Backed Certificates. (herein called the "Certificates"). Also issued under the Indenture dated as of February 21, 1997, between Issuer and Bankers Trust Company as indenture trustee, are four classes of Notes designated as "Class A-1 5.85% Asset Backed Notes" (the "Class A-1 Notes"), "Class A-2 6.05% Asset Backed Notes" (the "Class A-2 Notes"), "Class A-3 6.15% Asset Backed Notes" (the "Class A-3 Notes") and "Class B 6.40% Asset Backed Notes" (the "Class B Notes" and, together with the Class A-1 Notes, Class A-2 Notes and Class A-3 Notes, the "Notes"). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The holder of this Certificate acknowledges and agrees that its rights to receive distributions in respect of this Certificate are subordinated to the rights It is the intent of Seller, Servicer, Depositor and Certificateholders that, for purposes of Federal income taxes, Issuer will be treated as a partnership and the Certificateholders (including Depositor) will be treated as partners in that partnership. Depositor and the other Certificateholders by acceptance of a Certificate, agree to treat, and to take no action inconsistent with the treatment of, the Certificates for such tax purposes as partnership interests in the Trust. Each Certificateholder and Certificate Owner, by its acceptance of a Certificate, covenants and agrees that such Certificateholder and Certificate Owner will not at any time institute against Depositor, or join in any institution against Depositor of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or state bankruptcy or similar law in connection with any obligations relating to the Certificates, the Notes, the Trust Agreement or any of the Basic Documents. The Certificates do not represent an obligation of, or an interest in, Seller, Servicer, Administrator, Depositor, Owner Trustee or any Affiliates of any of them and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated herein or in the Trust Agreement, the Indenture or the Basic Documents. The Certificates may not be acquired by or for the account of or with the assets of (a) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the p...
Asset Backed Certificates. (herein called the "Certificates") issued under and subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which holder is bound. It is the intent of CEF Holding, and the Certificateholders that, for purposes of Federal income, State and local income and franchise and any other income taxes measured in whole or in part by income, until the Certificates are held by other than CEF Holding, the Trust be disregarded as an entity separate from its owner. At such time that the Certificates are held by more than one person, it is the intent of CEF Holding, and the Certificateholders that, for purposes of Federal income, State and local income and franchise and any other income taxes measured in whole or in part by income, the Trust be treated as a partnership, the assets of which are the assets held by the Trust, and the Certificateholders will be treated as partners in that partnership. CEF Holding and the other Certificateholders, by acceptance of a Certificate, agree to treat, and to take no action inconsistent with the treatment of, the Certificates as such for tax purposes. Each Certificateholder, by its acceptance of a Certificate, covenants and agrees that such Certificateholder will not at any time institute against CEF Holding or the Trust, or join in any institution against CEF Holding or the Trust of, any bankruptcy, reorganization, arrangement, insolvency or liquidation proceedings, or other proceedings under any United States Federal or State bankruptcy or similar law in connection with any obligations relating to any of the Related Documents. The Certificates do not represent an obligation of, or an interest in, CEF Holding, the Servicer, General Electric Capital Services, Inc., General Electric Capital Corporation or General Electric Company, the Trustee or any affiliates of any of them and no recourse may be had against such parties or their assets, except as may be expressly set forth or contemplated herein or in the Trust Agreement or the Related Documents. The Certificates may not be acquired by or for the account of: (i) an employee benefit plan (as defined in Section 3(3) of ERISA) that is subject to the provisions of Title 1 of ERISA, (ii) a plan described in Section 4975(e)(1) of the Internal Revenue Code of 1986, as amended, or (iii) any entity whose underlying assets include plan assets by reason of a plan's investmen...
Asset Backed Certificates. (herein called the "Certificates"). Also issued under the Indenture, dated as of March 15, 1999, between the Issuer, Norwest Bank Minnesota, National Association, as Indenture Trustee (the "Indenture Trustee"), are two classes of Notes designated as "Class A 5.95% Asset Backed Notes" (the "Notes"). This Certificate is issued under and is subject to the terms, provisions and conditions of the Trust Agreement, to which Trust Agreement the holder of this Certificate by virtue of the acceptance hereof assents and by which such holder is bound. The property subject to the Trust Agreement includes a pool of motor vehicle retail installment contracts secured by new and used automobiles and light trucks (the "Receivables"), all monies received thereunder or in respect thereof on or after the Initial Cutoff Date with respect to the Initial Receivables and after the Subsequent Cutoff Date with respect to Subsequent Receivables, security interests in the vehicles financed thereby, certain bank accounts and the proceeds thereof, proceeds from claims on certain insurance policies and certain other rights under the Trust Agreement and the Sale and Servicing Agreement, to be dated as of March 30, 1999 (the "Sale and Servicing Agreement"), among PAC, Paragon Auto, the Issuer and the Indenture Trustee, all right to and interest of Paragon Auto in and to the Receivables Purchase Agreement, to be dated as of March 30, 1999, between PAC and Paragon Auto, and all proceeds of the foregoing.
Asset Backed Certificates. The PacificAmerica Home Equity Loan Asset-Backed Certificates, Series 1997-1, evidencing the beneficial ownership interest in the Issuer and executed by the Owner Trustee in substantially the form set forth in Exhibit A to the Trust Agreement.