Guaranteed Certificates definition
Examples of Guaranteed Certificates in a sentence
The Guaranteed Certificates are entitled to distributions solely as described in the Trust Agreement on the related Distribution Date.
Each of the Depositor and Trustee agrees to such subrogation and, further agrees to execute such instruments and to take such actions as, in the sole judgment of the Certificate Insurer are necessary to evidence such subrogation and, subject to the priority of payment provisions of this Agreement, to perfect the rights of the Certificate Insurer to receive any moneys paid or payable in respect of the Guaranteed Certificates under this Agreement or otherwise.
Such amounts shall be allocated by the Trustee to Holders of Guaranteed Certificates entitled to such payments in the same manner as principal and interest distributions are to be allocated with respect to such Certificates pursuant to Section 5.02.
The Trustee shall furnish to the Certificate Insurer and the appropriate fiscal agent, if any, its records listing the payments on the affected Guaranteed Certificates, if any, that have been made by the Trustee and subsequently recovered from the affected Holders, and the dates on which such payments were made by the Trustee.
However, any payments made on the Guaranteed Certificates from funds in the Policy Payments Account shall be noted as provided in subsection (e) below.