Qualified Liquidation definition

Qualified Liquidation. The meaning set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust.

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Qualified Liquidation shall have the meaning set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust and the Tax Estates.

Qualified Liquidation under Section 860F of the Code and any regulations thereunder (as evidenced by an Opinion of Counsel); and

Examples of Qualified Liquidation in a sentence

• The Pooling and Servicing Agreement provides that the obligations created thereby will terminate upon the latest to occur of (a) the final payment or other liquidation (or any advance made with respect thereto) of the last Home Equity Loan in the Trust Estate or (b) the disposition of all property acquired in respect of any Home Equity Loan remaining in the Trust Estate or (c) at any time when a Qualified Liquidation of the Trust Estate is effected as described below.

• In connection with any such purchase, such Owners shall direct the Trustee to adopt a plan of complete liquidation as contemplated by Section 860F(a)(4) of the Code and shall provide to the Trustee an opinion of counsel experienced in federal income tax matters to the effect that such purchase constitutes a Qualified Liquidation.

• The Pooling and Servicing Agreement provides that the obligations created thereby will terminate upon the latest to occur of (a) the final payment or other liquidation (or any advance made with respect thereto) of the last Home Equity Loan or (b) the disposition of all property acquired in respect of any Home Equity Loan remaining in the Trust Estate or (c) at any time when a Qualified Liquidation of the Trust Estate is effected as described below.

• The Pooling and Servicing Agreement provides that the obligations created thereby will terminate upon the earlier to occur of (i) the distribution to the Certificateholders of all amounts required to be distributed to them thereunder and (ii) at any time when a Qualified Liquidation of the Trust is effected; provided, however, that in no event shall the Trust continue beyond the expiration of 21 years from the death of the survivor of the last lineal descendant of Joseph P.

• Any purchase shall be accomplished by deposit into the Certificate Account of the amount paid by the winning bidder if an Auction Termination has occurred or the amount described in the definition of "Clean Up Call Price" and only following the delivery of an Opinion of Counsel in form and substance acceptable to the Trustee that such termination is a "Qualified Liquidation" under Section 860F of the Code.

More Definitions of Qualified Liquidation

Qualified Liquidation. The meaning set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust and the Trust Estate.

Qualified Liquidation. As defined at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Trust and the Trust Estate.

Qualified Liquidation. With respect to any Series, the plan or plans for the complete liquidation of the REMIC or REMICs, as applicable, relative to such Series, within the meaning of Section 860F(a)(4), adopted by the Issuer within 90 days prior to the final Payment Date of such Series.

Qualified Liquidation. As set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code and applicable to the Upper-Tier REMIC or the Lower-Tier REMIC.

Qualified Liquidation under Section 860F of the Code and any regulations thereunder as prepared by the Master Servicer;

Qualified Liquidation under Section 860F of the Code and any regulations thereunder as prepared by ICI Funding;

Qualified Liquidation. Qualified liquidation" shall have the meaning set forth from time to time in the definition thereof at Section 860F(a)(4) of the Code (or any successor statute thereto) and applicable to the Upper-Tier REMIC or the Lower-Tier REMIC.