Grantor Trust A-2FL definition

Grantor Trust A-2FL means the portion of the Trust Fund consisting of (i) the Class A-2FL REMIC III Regular Interest and distributions thereon, (ii) the Class A-2FL Swap Agreement and payments by the Class A-2FL Swap Counterparty thereunder and (iii) the Class A-2FL Floating Rate Account, intended to be treated as a "grantor trust" within the meaning of the Grantor Trust Provisions. Grantor Trust A-2FL constitutes a separate common law trust created hereunder.

Grantor Trust A-2FL. That certain "grantor trust" (within the meaning of the Grantor Trust Provisions), the assets of which consist of (i) the Class A-2FL REMIC II Regular Interest and distributions thereon, (ii) the Class A-2FL Swap Agreement and, except for the Class A-2FL Depositor's Retained Amount, payments by the Class A-2FL Swap Counterparty thereunder and (iii) the applicable sub-account of the Floating Rate Account, intended to be treated as a "grantor trust" within the meaning of the Grantor Trust Provisions.

Examples of Grantor Trust A-2FL in a sentence

• The Class A-2FL Certificates are hereby designated as representing an undivided beneficial ownership interest in Grantor Trust A-2FL.

• The rights of Holders of the Class A-2FL Certificates, the Class A-4FL Certificates, the Class A-MFL Certificates, the Class A-JFL Certificates and, subject to Section 2.05(b), the Class V Certificates, to receive distributions from the proceeds of Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL, Grantor Trust A-JFL and Grantor Trust V, respectively, and all ownership interests of such Holders in and to such respective distributions, shall be as set forth in this Agreement.

• Employees will be compensated at the rate of time and one half for those hours actually worked beyond their scheduled workday and/or work week.

• The Servicing Accounts shall not be considered part of the segregated pool of assets constituting, REMIC I, REMIC II, Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust Z, Grantor Trust E or Grantor Trust B.

• Any replacement Certificate issued pursuant to this section shall constitute complete and indefeasible evidence of ownership in the applicable REMIC Pool or Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL, Grantor Trust A-JFL or, if created hereunder taking into account Section 2.05(b), Grantor Trust V, as applicable, as if originally issued, whether or not the lost, stolen or destroyed Certificate shall be found at any time.

• The Class A-2FL Certificates, the Class A-4FL Certificates, the Class A-MFL Certificates, the Class A-JFL Certificates and, subject to Section 2.05(b), the Class V Certificates are hereby designated as representing an undivided interest in Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust A-MFL, Grantor Trust A-JFL and Grantor Trust V, respectively.

• The Depositor shall deposit, or cause the deposit of, the Class A-2FL Swap Agreement into Grantor Trust A-2FL, the Class A-4FL Swap Agreement into Grantor Trust A-4FL, the Class A-MFL Swap Agreement into Grantor Trust A-MFL, and the Class A-JFL Swap Agreement into Grantor Trust A-JFL.

• Grantor Trust A2-FL, Grantor Trust AJ-FL and Grantor Trust E will be classified as grantor trusts under subpart E, part I of subchapter J of the Internal Revenue Code of 1986, as amended.

• The Depositor, as of the Closing Date, and concurrently with the execution and delivery of this Agreement, does hereby assign without recourse all the right, title and interest of the Depositor in and to the REMIC II Regular Interests to the Trustee for the benefit of the Holders of the REMIC III Certificates and each of Grantor Trust A-2FL, as the holder of the Class A-2FL REMIC III Regular Interest, and Grantor Trust A-MFL, as the holder of the Class A-MFL REMIC III Regular Interest.

• Maximum level of sound pressure at the stand, associated for example with performing or playing music during the fair, may not exceed 70 dB (noise reduction) except in the cases referred to in Item 5.7 below.