Class IC Certificateholder definition
Examples of Class IC Certificateholder in a sentence
In connection with such disposition, the Class IC Certificateholder is required to pay any unpaid fees and expenses of the Trustee that it would otherwise have been entitled to pursuant to this Agreement.
The rights of the Class IC Certificateholder to receive distributions from the Spread Account are described in Sections 10.02(e) and (f).
The value of the interests contributed by the Class IC Certificateholder shall equal the fair market value of the Receivables contributed to the Tax Partnership less the value attributed to the Class A Certificateholders and the Class I Certificateholders, as described above.
The rights of the Class IC Certificateholder shall be subordinated to the rights of the Class A Certificateholders and the Class I Certificateholders to the extent described in Section 9.04.
Amounts properly distributed to the Class IC Certificateholder pursuant to this Section, either directly without deposit in the Spread Account or from excess amounts in the Spread Account shall be deemed released from the Trust and from any security interest of the Trustee or the Surety Bond Issuer.
All amounts earned on amounts on deposit in the Group I Reserve Fund shall be taxable to the Class I-C Certificateholder.
Any losses on such investments shall be deposited in the Group I Reserve Fund by the Class I-C Certificateholder out of its own funds immediately as realized.
The Spread Account and any amounts on deposit therein shall be part of the Trust and shall be for the benefit of the Certificateholders and the Surety Bond Issuer, as their respective interests may appear herein; provided, however, that the interest of the Surety Bond Issuer and the Class IC Certificateholder shall be subordinated to the interests of the other Certificateholders as provided herein.
Amounts properly distributed to the Class IC Certificateholder pursuant to this Section, either directly without deposit in the Spread Account or from excess amounts in the Spread Account shall be deemed released from the Trust and from any security interest of the Trustee or the Insurer.
To the extent required by applicable law, the Servicer shall prepare or cause to be prepared and the Class IC Certificateholder or the Trustee shall sign the tax returns of the Trust and shall file such returns and such of the above information with the Internal Revenue Service.