Certificate Percentage Interest definition

Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

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Certificate Percentage Interest means with respect to any Trust Certificate, the percentage interest of ownership in the Trust represented thereby as set forth on the face thereof.

Certificate Percentage Interest. With respect to each Certificate, the Certificate Percentage Interest stated on the face thereof.

Examples of Certificate Percentage Interest in a sentence

Except as expressly provided herein, any written notice of the Certificateholders delivered pursuant to this Trust Agreement shall be effective if signed by the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest at the time of the delivery of such notice.
Subject to applicable escheat laws, any funds remaining in the Trust Estate after exhaustion of such remedies shall be distributed by the Owner Trustee to the Certificateholders in proportion to each Certificateholder’s Certificate Percentage Interest.
This certifies that CarMax Auto Funding LLC is the registered owner of a 100% Certificate Percentage Interest nonassessable, fully paid, beneficial interest in the Trust.
Pursuant to the Trust Agreement, there will be distributed on each Distribution Date to the Person in whose name this Certificate is registered at the close of business on the Business Day preceding such Distribution Date such Certificateholder’s Certificate Percentage Interest in the amount to be distributed to Certificateholders on such Distribution Date.
Except as expressly provided herein, any action that may be taken by the Certificateholders under this Trust Agreement may be taken by the Holders of Certificates evidencing not less than 51% of the aggregate Certificate Percentage Interest.

More Definitions of Certificate Percentage Interest

Certificate Percentage Interest. With respect to each Certificate, the Certificate Percentage Interest on the face thereof.

Certificate Percentage Interest. With respect to any Payment Date and any Certificate, the Percentage Interest for such Certificate.

Certificate Percentage Interest has the meaning assigned to such term in the Trust Agreement.

Certificate Percentage Interest. With respect to any Payment Date, the Certificate Percentage Interest as stated on the face of such Certificate, which percentage may be recalculated in accordance with Section 3.12 of the Trust Agreement.

Certificate Percentage Interest has the meaning specified in the Sale and Servicing Agreement.

Certificate Percentage Interest means with respect to any Trust Certificate, the percentage interest of ownership in the Trust represented thereby as set forth on the face thereof; provided that, with respect to any Trust Certificate owned by BMW Bank, if (i) BMW Bank becomes the subject of an insolvency proceeding and the FDIC, as receiver or conservator for BMW Bank, exercises its right of repudiation as contemplated by paragraph (d)(4)(ii) of the FDIC Rule and (ii) the FDIC pays damages to the Trust in an amount not less than the sum of (x) the aggregate outstanding Principal Balance of such Receivables and (y) the product of (1) the amount of interest accrued on the Notes through the date of repudiation and (2) the percentage that the aggregate outstanding Principal Balance of such Receivables bears to the aggregate outstanding Principal Balance of all of the Receivables on the date of repudiation, then (x) the Certificate Percentage Interest of such Trust Certificates shall be reduced to zero at the time of such repudiation, (y) BMW Bank shall no longer be entitled to any payments in respect of such Trust Certificates and (z) the Certificate Percentage Interest associated with such Trust Certificates shall, without need for any further action, immediately be transferred to the Depositor, in each case notwithstanding whether BMW Bank was the Certificateholder of such Trust Certificates on the related Record Date preceding such payments.

Certificate Percentage Interest. With respect to the Owner Trust Certificate and the Grantor Trust Certificates and any date of determination, the percentage interest as stated on the face of any Owner Trust Certificate or Grantor Trust Certificate, which percentage may be recalculated in accordance with Section 3.03 of the Owner Trust Agreement or 5.02 of the Grantor Trust Agreement, as applicable.