Examples of Grantor Trust Certificateholder in a sentence
The amount of any withholding tax imposed with respect to a Grantor Trust Certificateholder shall be treated as cash distributed to such Grantor Trust Certificateholder at the time it is withheld by the Grantor Trust and remitted to the appropriate taxing authority.
The Grantor Trust Trustee is further authorized and empowered from time to time to take such action as the Grantor Trust Seller, the Administrator or the Majority Grantor Trust Certificateholders direct in writing with respect to the Transaction Documents, except to the extent that this Agreement expressly requires the consent of each Grantor Trust Certificateholder for such action.
Subject to the foregoing, a Grantor Trust Certificateholder may assign, convey or otherwise transfer all or any of its right, title and interest in the related Grantor Trust Certificate, subject to the restrictions set forth herein.
Upon the formation of the Grantor Trust and until the issuance of the Grantor Trust Certificates, the Grantor Trust Seller shall be the sole beneficiary of the Grantor Trust, and upon the issuance of the Grantor Trust Certificates, the Grantor Trust Seller will no longer be a beneficiary of the Grantor Trust, except to the extent that the Grantor Trust Seller is a Grantor Trust Certificateholder.
A Grantor Trust Certificateholder shall be entitled to receive distributions with respect to its undivided Grantor Trust Percentage Interest therein only in accordance with Articles V and IX.
No transfer, by operation of law or otherwise, of any right, title or interest of a Grantor Trust Certificateholder to and in its ownership interest in the Grantor Trust Estate shall operate to terminate this Agreement or the trusts hereunder or entitle any transferee to an accounting or to the transfer to it of legal title to any part of the Grantor Trust Estate.
The Grantor Trust Trustee (including in its individual capacity) shall not be personally liable to any Noteholder or Grantor Trust Certificateholder on account of the Grantor Trust Trustee’s good faith reliance on the provisions of this Section 4.2 and no Noteholder or Grantor Trust Certificateholder shall have any claim for breach of fiduciary duty or otherwise against the Grantor Trust Trustee (as such or in its individual capacity) for giving or withholding its consent to any such Bankruptcy Event.
The Grantor Trust Certificateholder represents and warrants that it is a “United States person” as defined in Section 7701(a)(30) of the Code and the Administrator agrees to provide the Grantor Trust Trustee and any relevant intermediary with a correct, complete and properly executed Internal Revenue Service Form W-9 (or applicable successor form) for the Grantor Trust Certificateholder.
The Grantor Trust Trustee shall furnish to any Grantor Trust Certificateholder promptly upon receipt of a written request therefor, duplicates or copies of all reports, notices, requests, demands, certificates and any other instruments furnished to the Grantor Trust Trustee under the Transaction Documents.
The bankruptcy, liquidation, dissolution, death or incapacity of a Grantor Trust Certificateholder shall not (x) operate to terminate this Agreement or the Grantor Trust, nor (y) entitle such Grantor Trust Certificateholder’s legal representatives or heirs to claim an accounting or to take any action or proceeding in any court for a partition or winding up of all or any part of the Grantor Trust or Grantor Trust Estate nor (z) otherwise affect the rights, obligations and liabilities of the parties hereto.