Private Holder definition
Private Holder means each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Issuer or the Master Trust, including any financial instrument or contract the value of which is determined in whole or in part by reference to the Issuer or the Master Trust (including the Issuer’s assets or the Master Trust’s assets, income of the Issuer or the Master Trust or distributions made by the Issuer or the Master Trust), but excluding any interest in the Issuer or the Master Trust represented by any Series or Class of Notes or Certificates or any other interest as to which the Transferor has provided an Opinion of Counsel to the effect that such Series, Class or other interest will be treated as debt or otherwise not as an equity interest in the Issuer, the Master Trust or the Receivables for federal income tax purposes, provided, that in each case, such interest is not convertible or exchangeable into an interest in the Issuer or the Master Trust or the Issuer’s or Master Trust’s income or equivalent value. Notwithstanding the immediately preceding sentence, (i) “Private Holder” shall also include any other Person that the Transferor determines is, may be or may become a “partner” for purposes of Section 1.7704-1(h)(1)(ii) (including by reason of Section 1.7704-1(h)(3)) of the United States Treasury Regulations. “Private Holders” shall include the Holders of the Transferor Certificate (as defined in the Pooling and Servicing Agreement) or any interest therein, the Trust Certificate, the Transferor Certificates or any interest in either, and the Servicer. Any person holding more than one interest in the Issuer or the Master Trust each of which separately would cause such Person to be a Private Holder shall be treated as a single Private Holder. Each holder of an interest in a Private Holder which is a partnership, S corporation or a grantor trust under the Code shall be treated as a Private Holder unless excepted with the consent of the Transferor (which consent shall be based on an Opinion of Counsel generally to the effect that the action taken pursuant to the consent will not cause the Issuer or the Master Trust to become a publicly traded partnership treated as a corporation).
Private Holder means each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Trust including any financial instrument or contract the value of which is determined in whole or in part by reference to the Trust (including the Trust’s assets, income of the Trust or distributions made by the Trust), excluding any interest in the Trust represented by any Series or Class of Investor Certificates or any other interest as to which the Transferor has provided to the Trustee an Opinion of Counsel to the effect that such Series, Class or other interest will be treated as debt or otherwise not as an equity interest in either the Trust or the Receivables for federal income tax purposes, in each case, provided such interest is not convertible or exchangeable into an interest in the Trust or the Trust’s income or equivalent value. Notwithstanding the immediately preceding sentence, (i) “Private Holder” shall also include any other Person that the Transferor determines is (or may be) a “partner” within the meaning of Treasury Regulation section 1.7704-1(h)(1)(ii) (including by reason of section 1.7704-1(h)(3)) and (ii) unless the Transferor otherwise determines, “Private Holder” shall not include any holder that would otherwise be considered a Private Holder solely by reason of having acquired a direct or indirect interest in the Trust issued prior to December 4, 1995. Initially, the Private Holders include the holders of the Transferor Certificate or any interest therein, of any Collateral Interest, of any Enhancement Invested Amount, and of any similar interests in the Trust represented by any other Class of any Series of Certificates issued on or after December 4, 1995, and the Servicer. Any Person holding more than one interest in the Trust each of which separately would cause such Person to be a Private Holder shall be treated as a single Private Holder. Each holder of an interest in a Private Holder which is a partnership, S corporation or grantor trust under the Internal Revenue Code shall be treated as a Private Holder unless excepted with the consent of the Transferor (which consent shall be based on an Opinion of Counsel generally to the effect that the action taken pursuant to the consent will not cause the Trust to become a publicly traded partnership treated as a corporation for federal income tax purposes).
Private Holder means each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Trust, including any financial instrument or contract the value of which is determined in whole or part by reference to the Trust (including the Trust's assets, income of the Trust or distributions made by the Trust), excluding any interest in the Trust represented by any Series or Class of Certificates or any other interests as to which the Trustee has received an Opinion of Counsel to the effect that such Series, Class or other interest shall be treated as debt or otherwise not as an equity interest in either the Trust or the Receivables for federal income tax purposes (unless such interest is convertible or exchangeable into an interest in the Trust or the Trust's income or such interest provides for payment of equivalent value). Notwithstanding the immediately preceding sentence, "Private Holder" shall also include any other Person that the Seller determines is a "partner" within the meaning of Section 1.7704-1(h)(1)(ii) of the U.S. Treasury Regulations (including by reason of Section 1.7704-1(h)(3)) or any successor provision of law. Any Person holding more than one interest in the Trust, each of which separately would cause such Person to be a Private Holder, shall be treated as a single Private Holder. Each holder of an interest in a Private Holder which is a partnership, S corporation or a grantor trust under the Internal Revenue Code shall be treated as a Private Holder unless excepted with the consent of the Seller (which consent shall be based on an Opinion of Counsel generally to the effect that the action taken pursuant to the consent shall not cause the Trust to become a publicly traded partnership treated as a corporation). Notwithstanding anything to the contrary herein, each Class C Certificateholder shall be considered to be a Private Holder.
Examples of Private Holder in a sentence
Notwithstanding anything to the contrary herein, each Class C Certificateholder, and each holder of any Class of any Series if with respect to such Class no opinion is delivered to the effect that the Certificates of such Class will be treated as debt for federal income tax purposes, will be considered to be a Private Holder.
Any person holding more than one interest in the Trust, each of which separately would cause that person to be a Private Holder, will be treated as a single Private Holder.
The Company hereby acknowledges that certain of the Holders may be Public Side Holders (i.e., Holders that do not wish to receive Private Holder Information).
Each holder of an interest in a Private Holder which is a partnership, S corporation or a grantor trust under the Code will be treated as a Private Holder unless excepted with the consent of the LLC (which consent will be based on an opinion of counsel generally to the effect that the action taken pursuant to the consent will not cause the Trust to become a publicly traded partnership treated as a corporation).
Notwithstanding the immediately preceding sentence, "Private Holder" will also include any other person that the LLC determines is a "partner" within the meaning of Section 1.7704-1(h)(1)(ii) of the U.S. Treasury Regulations (including by reason of Section 1.7704-1(h)(3)) or any successor provision of law.
More Definitions of Private Holder
Private Holder. MEANS EACH HOLDER OF A RIGHT TO RECEIVE INTEREST OR PRINCIPAL IN RESPECT OF ANY DIRECT OR INDIRECT INTEREST IN THE TRUST, INCLUDING ANY FINANCIAL INSTRUMENT OR CONTRACT THE VALUE OF WHICH IS DETERMINED IN WHOLE OR PART BY REFERENCE TO THE TRUST (INCLUDING THE TRUST'S ASSETS, INCOME OF THE TRUST OR DISTRIBUTIONS MADE BY THE TRUST), EXCLUDING ANY INTEREST IN THE TRUST REPRESENTED BY ANY SERIES OR CLASS OF CERTIFICATES OR ANY OTHER INTERESTS AS TO WHICH THE TRUSTEE HAS RECEIVED AN OPINION OF COUNSEL TO THE EFFECT THAT THAT SERIES, CLASS OR OTHER INTEREST WILL BE TREATED AS DEBT OR OTHERWISE NOT AS AN EQUITY INTEREST IN EITHER THE TRUST OR THE RECEIVABLES FOR FEDERAL INCOME TAX PURPOSES (UNLESS THAT INTEREST IS CONVERTIBLE OR EXCHANGEABLE INTO AN INTEREST IN THE TRUST OR THE TRUST'S INCOME OR THAT INTEREST PROVIDES FOR PAYMENT OF EQUIVALENT VALUE). NOTWITHSTANDING THE IMMEDIATELY PRECEDING SENTENCE, "PRIVATE HOLDER" WILL ALSO INCLUDE ANY OTHER PERSON THAT DEUTSCHE FRLP DETERMINES IS A "PARTNER" WITHIN THE MEANING OF SECTION 1.7704-1(h)(1)(ii) OF THE U.S. TREASURY REGULATIONS (INCLUDING BY REASON OF SECTION 1.7704-1(h)(3)) OR ANY SUCCESSOR PROVISION OF LAW. ANY PERSON HOLDING MORE THAN ONE INTEREST IN THE TRUST, EACH OF WHICH SEPARATELY WOULD CAUSE THAT PERSON TO BE A PRIVATE HOLDER, WILL BE TREATED AS A SINGLE PRIVATE HOLDER. EACH HOLDER OF AN INTEREST IN A PRIVATE HOLDER WHICH IS A PARTNERSHIP, S CORPORATION OR A GRANTOR TRUST UNDER THE CODE WILL BE TREATED AS A PRIVATE HOLDER UNLESS EXCEPTED WITH THE CONSENT OF DEUTSCHE FRLP (WHICH CONSENT WILL BE BASED ON AN OPINION OF COUNSEL GENERALLY TO THE EFFECT THAT THE ACTION TAKEN PURSUANT TO THE CONSENT WILL NOT CAUSE THE TRUST TO BECOME A PUBLICLY TRADED PARTNERSHIP TREATED AS A CORPORATION). NOTWITHSTANDING ANYTHING TO THE CONTRARY HEREIN, EACH CLASS C CERTIFICATEHOLDER, AND EACH HOLDER OF ANY CLASS OF ANY SERIES IF WITH RESPECT TO SUCH CLASS NO OPINION IS DELIVERED TO THE EFFECT THAT THE CERTIFICATES OF SUCH CLASS WILL BE TREATED AS DEBT FOR FEDERAL INCOME TAX PURPOSES, WILL BE CONSIDERED TO BE A PRIVATE HOLDER.
Private Holder means each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Trust, including any financial instrument or contract the value of which is determined in whole or part by reference to the Trust (including the Trust's assets, income of the Trust or distributions made by the Trust), excluding any interest in the Trust represented by any series or class of certificates or any other interests as to which the Trustee has received an opinion of counsel to the effect that that series, class or other interest will be treated as debt or otherwise not as an equity interest in either the Trust or the Receivables for federal income tax purposes (unless that interest is convertible or exchangeable into an interest in the Trust or the Trust's income or that interest provides for payment of equivalent value). Notwithstanding the immediately preceding sentence, "Private Holder" will also include any other person that Deutsche FRLP determines is a "partner" within the meaning of Section 1.7704-1(h)(1)(ii) of the U.S. Treasury Regulations (including by reason of Section 1.7704-1(h)(3)) or any successor provision of law. Any person holding more than one interest in the Trust, each of which separately would cause that person to be a Private Holder, will be treated as a single Private Holder. Each holder of an interest in a Private Holder which is a partnership, S corporation or a grantor trust under the Code will be treated as a Private Holder unless excepted with the consent of Deutsche FRLP (which consent will be based on an opinion of counsel generally to the effect that the action taken pursuant to the consent will not cause the Trust to become a publicly traded partnership treated as a corporation). Notwithstanding anything to the contrary herein, each Class C Certificateholder, and each holder of any Class of any Series if with respect to such Class no opinion is delivered to the effect that the Certificates of such Class will be treated as debt for federal income tax purposes, will be considered to be a Private Holder.
Private Holder means each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Trust, including any financial instrument or contract the value of which is determined in whole or in part by reference to the Trust (including the assets of the Trust, income of the Trust or distributions made by the Trust), but excluding any interest in the Trust represented by any Series or Class of Notes or any other interest as to which the Transferor has provided to the Indenture Trustee an Opinion of Counsel to the effect that
Private Holder shall also include any other Person that the Transferor determines is, may be, or may become a "partner" within the meaning of Section 1.7704-1(h)(1)(ii) (including by reason of Section 1.7704-1(h)(3)) of the United States Treasury Regulations. "Private Holders" shall include the Holders of the Trust Beneficial Interest or other ownership interest or any interest in either, the Servicer and the Class D Noteholders. Any Person holding more than one interest in the Trust each of which separately would cause such Person to be a Private Holder shall be treated as a single Private Holder. Each holder of an interest in a Private Holder which is a partnership, S corporation or a grantor trust under the Code shall be treated as a Private Holder unless excepted with the consent of the Transferor.
Private Holder means (i) each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Transferred Interest including any financial instrument or contract the value of which is determined in whole or in part by reference to the Transferred Interest and (ii) any other Person that the Transferor determines is, may be or may become a "partner" within the meaning of Section 1.7704-1(h)(1)(ii) of the United States Treasury Regulations (including by reason of Section 1.7704-1(h)(3)). Any Person holding more than one interest in the Transferred Interest each of which separately would cause such Person to be a Private Holder shall be treated as a single Private Holder. Each holder of an interest in a Private Holder which is a partnership, an S Corporation or a grantor trust under the Code shall be treated as a Private Holder unless excepted with the consent of the Transferor.
Private Holder. Each beneficial owner of a right to receive any payments (including payments denominated as interest or principal) in respect of any direct or indirect interest in the Trust, including any financial instrument or contract the value of which is determined in whole or part by reference to the Trust (including the Trust's assets, income of the Trust or distributions made by the Trust), excluding any interest in the Trust represented by any Class A Certificates, Class M Certificates or any other interest as to which the Trustee has received an Opinion of Counsel to the effect that such Class A Certificates, Class M Certificates or other interest will be treated as debt or otherwise not as an equity interest in either the Trust or the Trust Estate for federal income tax purposes, in each case, provided such interest is not convertible or exchangeable into an interest in the Trust or the Trust's income or equivalent value. Any Person holding more than one interest each of which separately would cause such Person to be a Private Holder shall be treated as a single Private Holder, and each holder of an interest in a Private Holder which is a partnership, an S corporation or a grantor trust under the Code (each, a "flow-through entity") shall be treated as a Private Holder unless, based on an Opinion of Counsel, such holder of an interest in the flow-through entity would not be a "partner" for purposes of United States Treasury Regulations Section 1.7704-1(h)(3).
Private Holder means each holder of a right to receive interest or principal in respect of any direct or indirect interest in the Trust including any financial instrument or contract the value of which is determined in whole or in part by reference to the Trust (including the Trust’s assets, income or the Trust or distributions made by the Trust), excluding any interest in the Trust represented by any Series or Class of Investor Certificates or any other interest as to which the Seller has provided to the Trustee an Opinion of Counsel to the effect that such Series, Class or other interest will be treated as debt or otherwise not as an equity interest in either the Trust or the Receivables for federal income tax purposes, in each case, provided such interest is not convertible or exchangeable into an interest in the Trust or the Trust’s income or equivalent value.