Class X Certificate definition

Class X Certificate. Any one of the Certificates with a "Class X" designation on the face thereof, substantially in the form of Exhibit A-1, and evidencing a "regular interest" in REMIC II for purposes of the REMIC Provisions.
Class X Certificate means any Class X-A Certificate or Class X-B Certificate.
Class X Certificate. A Certificate executed and authenticated by the Certificate Administrator, in substantially the form set forth in Exhibit A-2 and designated as a Class X Certificate.

Examples of Class X Certificate in a sentence

  • Class P Certificate and Class X Certificate; any certificate with a rating below the lowest applicable permitted rating under the Underwriters' Exemption.

  • Any distribution of the proceeds of any remaining assets of the Trust Fund will be made only upon presentment and surrender of this Class X Certificate at the Corporate Trust Office or the office or agency maintained by the Trustee in New York, New York.

  • Each Certificate, other than the Class X Certificate and Class R Certificate, represents ownership of a regular interest in the Upper Tier REMIC for purposes of the REMIC Provisions.

  • The Class X Certificate represents ownership of the Class X Interest in the Master REMIC and also represents ownership of the assets held from time to time in the Basis Risk Reserve Fund and the Supplemental Interest Trust.

  • Notwithstanding anything else to the contrary herein, any purported transfer of a Class X Certificate to or on behalf of an employee benefit plan subject to ERISA or to the Code without the opinion of counsel satisfactory to the Trustee as described above shall be void and of no effect.


More Definitions of Class X Certificate

Class X Certificate. Any Certificate designated as a “Class X Certificate” on the face thereof, in the form of Exhibit A-4 hereto, representing the right to its Percentage Interest of distributions provided for the Class X Certificates as set forth herein and evidencing (i) a REMIC Regular Interest in REMIC III, (ii) the right to receive the related Basis Risk Shortfall and (iii) the obligation to pay any Class IO Distribution Amount.
Class X Certificate. Any of the Class X Certificates as designated on the face thereof, executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-2, evidencing the ownership of a “regular interest” in the Upper Tier REMIC created hereunder and representing the right to distributions as set forth herein and therein.
Class X Certificate. Any one of the Class X Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit C-5, representing the right to distributions as set forth herein and therein.
Class X Certificate. Any of the Class X-1 or the Class X-2 Certificates.
Class X Certificate. Any one of the Certificates executed and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-4 hereto.
Class X Certificate. Any Certificate designated as a “Class X Certificate” on the face thereof, in the form of Exhibit A-6 hereto. Closing Date: February 28, 2007. Code: The Internal Revenue Code of 1986, including any successor or amendatory provisions.
Class X Certificate. Any Certificate designated as a "Class X Certificate" on the face thereof, in the form of Exhibit F hereto. CLASS X CERTIFICATEHOLDER: A Holder of a Class X Certificate.