Class S Certificate definition

Class S Certificate means any of the Certificates with a "Class S" designation on the face thereof, substantially in the form of Exhibit A-5 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.
Class S Certificate. Any Certificate designated as a "Class S Certificate" on the face thereof, in the form of Exhibit A hereto, representing the right to distributions as set forth herein. For federal income tax purposes, the Class S Certificates represent the nine UTS Components each of which is a "regular interest" in the Upper Tier REMIC.

Examples of Class S Certificate in a sentence

  • If a Holder of a Definitive Certificate (other than a Class S Certificate) wishes at any time to transfer such Certificate to a Person who wishes to take delivery thereof in the form of a beneficial interest in the related Regulation S Book-Entry Certificate or the related Rule 144A Book-Entry Certificate, such transfer may be effected only in accordance with the Applicable Procedures, and this Section 5.02(b)(vi).

  • Certificate Interest Rate of the Class S Certificate: % 0.00000000 ----------- *It has been the Company's experience that, with respect to the first Distribution Date after the closing of a securitization containing a large number of recently originated or acquired Mortgage Loans, the number of Mortgage Loans 30-59 days delinquent may be inflated due to the borrowers sending monthly payments to the wrong location or delays by the Company in inputting the Mortgage Loans on its servicing system.

  • No such transfer shall be made and the Certificate Registrar shall not register any such transfer unless such transfer is made in accordance with procedures substantially consistent with those set forth in Section 5.02(b)(v), provided, however, that any such transfer of a Class S Certificate shall be made only to a transferee that is a Qualified Institutional Buyer.

  • Except in connection with the transfer thereof by an Initial Purchaser or the Depositor, each prospective transferee of an ERISA Restricted Certificate, a Class S Certificate or a Class R Certificate in Non-Book Entry Certificate form shall deliver to the transferor, the Depositor, the Certificate Registrar, the Certificate Administrator and the Trustee representation letters, substantially in the form of Exhibit L-3 and Exhibit L-4 to this Agreement.

  • By: [Please print or type name(s)] Title Taxpayer Identification Number EXHIBIT A-19 Form of Class S Certificate* *Not Applicable.


More Definitions of Class S Certificate

Class S Certificate. A Certificate designated as "Class S" on the face thereof, in the form of Exhibit A-26 hereto, and evidencing an undivided beneficial interest in the portion of the Grantor Trust consisting of the Excess Interest, the Excess Interest Distribution Account and the proceeds thereof.
Class S Certificate. Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-21 hereto and evidencing an undivided beneficial interest in the Class S Specific Grantor Trust Assets; provided that the Class S Certificate will not be issued unless the Trust Fund includes ARD Mortgage Loans on the Closing Date. If issued, the Class S Certificates have no Pass-Through Rate, Certificate Balance or Notional Amount. Because the Trust Fund will not include ARD Mortgage Loans as of the Closing Date, there will be no Class S Specific Grantor Trust Assets and the Class S Certificates will not be issued. Accordingly, all references in this Agreement to “Class S Certificate” and “Class S Certificates” shall be disregarded.
Class S Certificate. Any one of the Certificates designated on the face thereof as a Class S Certificate, substantially in the form annexed hereto as Exhibit B-4, authenticated and delivered by the Trustee representing the right to distributions as set forth herein. The Class S Certificates are a "regular interest" in the Lower-Tier REMIC for the purposes of the REMIC Provisions.
Class S Certificate. A Certificate designated as "Class S" on the face thereof, in the form of Exhibit A-30 hereto.