Retained Notes definition

Retained Notes means the Class A-1 Notes, the Class B Notes, $16,400,000 of the Class A-2a Notes, $13,400,000 of the Class A-2b Notes, $26,100,000 of the Class A-3 Notes and $6,613,000 of the Class A-4 Notes until such time as such Notes are the subject of an Opinion of Counsel pursuant to Section 2.04(i) of the Indenture with respect to their classification as debt for federal income tax purposes.

Retained Notes. The Notes initially retained by the Depositor or a Person treated as the same Person as the Depositor for U.S. federal income tax purposes.

Retained Notes if any, means any Notes retained in the initial offering thereof by the Depositor or NMAC or conveyed to an Affiliate.

Examples of Retained Notes in a sentence

• The execution and delivery by the Transferor of this Agreement and the Program Documents to which it is a party, and the consummation of each of the transactions contemplated thereby, and the consummation of the Retained Notes Transaction, will not violate any applicable law, statute or governmental rule or regulation.

• This Section 2.04(g) shall apply only to Retained Notes other than the Class B Notes, which shall be governed instead by the applicable transfer and other restrictions set forth in Section 2.14 hereof.

• The Underwriters shall have received (i) fully executed copies of this Agreement, the Indenture and the other Program Documents duly executed and delivered by the parties thereto and (ii) evidence satisfactory to the Underwriters that the Retained Notes Transaction has been consummated.

• The Representatives shall have received (i) fully executed copies of this Agreement, the Indenture and the other Program Documents duly executed and delivered by the parties thereto and (ii) evidence satisfactory to the Representatives that the Retained Notes Transaction has been consummated.

• The Issuer, by entering into this Indenture, and each Noteholder, by its acceptance of a Note (and each Note Owner by its acceptance of an interest in the applicable Book‑Entry Note), agree to treat the Notes (other than the Retained Notes) for purposes of U.S. federal and state income tax, franchise tax and any other tax measured in whole or in part by income, as debt.

More Definitions of Retained Notes

Retained Notes if any, means any Notes beneficially owned by the Issuer or an entity which, for U.S. federal income tax purposes, is treated as the same Person as the Issuer, until such time as such Notes are the subject of an opinion pursuant to Section 2.04(g) of the Indenture.

Retained Notes. The Notes initially retained by the Depositor or a Person treated as the same Person as the Depositor for U.S. federal income tax purposes. Schedule of Receivables: The schedule of Receivables attached to the First Step Receivables Assignment delivered on the Closing Date and originally held as part of the Trust, and on file at the locations listed on Exhibit A of the Trust Sale Agreement, as it may be amended from time to time.

Retained Notes means [RESERVED].

Retained Notes means the Class C Notes to the extent retained on the Closing Date by Credit Acceptance or one of its Affiliates, for so long as such Notes are retained by Credit Acceptance or one of its Affiliates and, if transferred or assigned by Credit Acceptance or one of its Affiliates, until an Opinion of Counsel has been rendered with respect to the Class of such Notes that the Notes of such Class or any interest therein will be treated as debt for U.S. federal income tax purposes.

Retained Notes means the Class [___] Notes, until such time as such Notes are the subject of an opinion specified in Section 2.04(b) of the Indenture regarding treatment of such Notes as indebtedness for federal income tax purposes, which opinion shall have been received by the Depositor and the Indenture Trustee.

Retained Notes means any Notes, or interests therein, beneficially owned by the Issuer or an entity which, for U.S. federal income tax purposes, is considered the same Person as the Issuer, until such time as such Notes are the subject of an opinion pursuant to Section 2.6(d) hereof.

Retained Notes means the Class B Notes; provided, that upon any Retained Notes becoming Later-Sold Notes, they shall no longer be considered Retained Notes.