Exchangeable Certificates definition

Exchangeable Certificates. The Class A-S, Class B, Class C and Class PEX Certificates.

Exchangeable Certificates. As specified in the Preliminary Statement.

Exchangeable Certificates. Each Class of Certificates identified as such in Appendix A hereto and issued hereunder.

Examples of Exchangeable Certificates in a sentence

• As provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, an Initial Exchangeable Certificate in a permitted combination may generally be exchanged for a proportionate interest in the related Exchangeable Certificates in such combination, and vice versa.

• At the request of the Holder of Class PEX Certificates, and upon the surrender of such Exchangeable Certificates, the Certificate Administrator, shall exchange such Exchangeable Certificates for Class A-S, Class B and Class C Certificates in the Exchange Proportion and with an original aggregate Certificate Principal Balance equal to the original aggregate Certificate Principal Balance of the Class PEX Certificates exchanged therefor.

• Exchangeable Certificates may be exchanged for the related MACR Certificates in the combinations set forth on Schedule I.

• Exchangeable Certificates that have been exchanged for and converted to Class EC Certificates shall be deemed to be held by the Trustee in uncertificated form and, for tax purposes, as assets of the Grantor Trust, and shall be deemed to be outstanding for all purposes in accordance with the terms of this Agreement.

• For federal income tax purposes, the regular interests in the Upper-Tier REMIC represented by the classes of Exchangeable Certificates (or portions thereof) that have been exchanged for Class EC Certificates shall be deemed to continue to be outstanding and represented by the Class EC Certificates, and upon a reconversion of Class EC Certificates for Exchangeable Certificates, shall again be deemed to be represented by such Exchangeable Certificates.

More Definitions of Exchangeable Certificates

Exchangeable Certificates. The Class 1-A-20, Class 1-A-21, Class 1-A-22, Class 1-A-23 and Class 1-A-24 Certificates.

Exchangeable Certificates. The Class V-2A Certificates, Class V-2B Certificates, Class V-2C Certificates, Class V-2D Certificates, Class V-2E Certificates, Class V-3AB Certificates, Class V-3C Certificates, Class V-3D Certificates, Class V-3E Certificates and the Certificates constituting the VRR Interest, collectively.

Exchangeable Certificates. The Certificates designated as Exchangeable Certificates in the Preliminary Statement issued or issuable pursuant to the Trust Agreement in exchange for and in accordance with the Trust Agreement for the applicable Exchangeable REMIC Certificates.

Exchangeable Certificates. The Certificates designated as Exchangeable Certificates in Section 4.01 issued or issuable pursuant to the Trust Agreement in exchange for the applicable Exchangeable Initial Certificates in accordance with the Trust Agreement.

Exchangeable Certificates. The Class V-1 Certificates, the Class V-2A Certificates, Class V-2B Certificates, Class V-2C Certificates, Class V-2D Certificates, Class V-2E Certificates, Class V-3AC Certificates, Class V-3D Certificates and Class V-3E Certificates, collectively.

Exchangeable Certificates. The Class 1A-1, Class 1A-6, Class 1A-7, Class 1A-11, Class 2A-1, Class 2A-3 and Class 3A-3 Certificates.

Exchangeable Certificates. As defined in the Series Supplement.