CRB Securities definition
Examples of CRB Securities in a sentence
Without limiting the foregoing, subject to Section 8.02(c), the Issuer will cause to be distributed all amounts on deposit in the Note Distribution Account on a Distribution Date by the Trust with respect to the CRB Securities (i) for the benefit of the [Class [A]] Notes, to the [Class [A]] Noteholders and (ii) for the benefit of the [Class [B]] Notes, to the [Class [B]] Noteholders.
The depositor and the Owner Trustee shall to the extent consistent with this Agreement take such actions as may be necessary to ensure that, if this Agreement were deemed to create a security interest in the CRB Securities, such security interest would be deemed to be a perfected security interest of first priority under applicable law and will be maintained as such for so long as any of the CRB Securities remain outstanding.
CARD ACCOUNT TRUST, SERIES [ ] ASSET BACKED CERTIFICATE evidencing a fractional undivided beneficial ownership interest in the Trust, as defined below, the property of which included certain CRB Securities created pursuant to a Pooling and Servicing Agreement[s] dated as of [ ], among [_____], as seller, [_____], as servicer, and [_____], as trustee, and distributions thereon, deposited in trust by ACE Securities Corp.
As of any Distribution Date as of which the then outstanding Aggregate Collateral Balance is [5%] or less of the Aggregate Collateral Balance as of the Cutoff Date, the Depositor shall have the option to purchase the outstanding CRB Securities.
The Owner Trustee makes no representations or warranties as to the validity or sufficiency of this Agreement or of the Certificates or of the CRB Securities or related documents, other than the signature of the Owner Trustee on the Certificates and the certificate of authentication.
Upon such deposit into the CRB Collection Account, such CRB Securities shall be released to the Depositor, and the Owner Trustee shall execute and deliver such instruments of transfer or assignment, in each case without recourse, as shall be reasonably requested and provided by the Depositor to vest in the Depositor, or its designee or assignee, title to the CRB Securities repurchased pursuant hereto.
The Owner Trustee shall provide the Certificateholders with access to a copy of each report received by it as Collateral Holder under the Pooling and Servicing Agreement with respect to the CRB Securities.
The Depositor may at it▇ ▇▇▇ion purchase the outstanding CRB Securities at a price specified in the Trust Agreement, and such purchase of the CRB Securities will effect early retirement of the Certificates; however, the Depositor may exercise such right of purchase only as of a Distribution Date as of which the then outstanding Aggregate Collateral Balance is [5%] or less of the Aggregate Collateral Balance as of the Cutoff Date.
In addition, a Majority in Interest of Certificates may together direct the time, method and place of conducting any proceeding for any remedy available to the Owner Trustee as a holder of CRB Securities.
In the event of any default under this Agreement by the Depositor or any default under the CRB Securities, subject to compliance with paragraph (d) above, the Owner Trustee may in its discretion proceed to protect and enforce the rights of Certificateholders by any action, suit or proceeding deemed proper by the Owner Trustee which is not inconsistent with any request or direction by the Holders of a Majority in Interest of the Certificates affected thereby.