SENIOR TRUST CERTIFICATES definition

SENIOR TRUST CERTIFICATES means the senior trust certificates representing senior beneficial interests in the property of the Trust that are issued from time to time pursuant to the Trust Deed.

SENIOR TRUST CERTIFICATES means the senior trust certificates representing senior beneficial interests in the Trust that are issued from time to time pursuant to the Trust Deed. "SERIES" shall have the meaning assigned to such term in Annex A of the Trust Deed. Amended and Restated Prepayment Agreement <PAGE> 9 "SERVICER" shall mean PIFCo in such capacity under the Servicing Agreement. "SERVICING AGREEMENT" shall mean the Amended and Restated Servicing Agreement dated as of May 31, 2002 (as amended by the amendment dated May 16, 2003) among PIFCo, the Trustee, Petrobras and Petrobras Finance pursuant to which PIFCo, as Servicer, agreed, among other things, to service, manage, administer and collect the Receivables for the benefit of the Trustee and Petrobras Finance. "SPECIFIED BUYERS" shall have the meaning assigned to such term in the Master Export Contract. "TAX" or "TAXES" shall have the meaning set forth in Section 2.03. "TERMINATION EVENT" shall have the meaning set forth in Annex A of the Trust Deed. "TERMINATION PAYMENT" shall mean a payment equal to (a) the aggregate value of Prepaid Oil Products under this Agreement which have not theretofore been delivered to Petrobras Finance (i) set forth in Column (C) of Exhibit A for all Quarterly Delivery Periods and (ii) set forth in Columns (D-1) through (D-3) of Exhibit A through the last day of the Quarterly Delivery Period in which such Termination Payment is made, and (b) any indemnity or other amounts then due and payable by Petrobras to Petrobras Finance under the Master Export Contract and this Agreement and (without duplication) by Petrobras to the Trustee in respect of the Performance Guaranty of the obligations of PIFCo and Petrobras Finance; provided, that such payment in the aggregate shall not exceed the RPA Termination Price to be paid by Petrobras Finance in the event that the Receivables Purchase Agreement becomes subject to termination. "TRANSACTION DOCUMENTS" shall mean, collectively, the Commercial Contracts and the Senior Trust Certificate Documents. "TRUST" shall mean the PF Export Receivables Master Trust, a trust established and existing under the laws of the Cayman Islands and created by the Trust Deed. "TRUST DEED" shall have the meaning set forth in this Section 1.01. "TRUSTEE" shall have the meaning set forth in the recitals. "UNITED STATES" shall mean the United States of America. "U.S. GAAP" shall mean generally accepted accounting principles in the United States. "U.S. SELLER" shall mean initially PAI...

SENIOR TRUST CERTIFICATES means the senior trust certificates and any Additional Senior Trust Certificates representing senior beneficial interests in the Trust Property (other than the Charitable Property) issued from time to time under and pursuant to this Trust Deed.

Examples of SENIOR TRUST CERTIFICATES in a sentence

• The New Senior Subordinated Notes and the corresponding Senior Trust Certificates cannot be transferred, sold or otherwise disposed of separately.

• The Final Payment Date shall be either the Final Scheduled Principal Payment Date or such other date upon which the principal amount of this Series of Senior Trust Certificates is paid in full.

• To the extent permitted by applicable law, any payments due and not punctually paid on the Series [ ] Senior Trust Certificates shall bear interest until paid at the Series [ ] Senior Trust Certificate Rate plus the Default Interest Rate.

• The proceeds from such purchase shall be applied by the Trustee to the prepayment in whole, but not in part, of one or more outstanding Series of Senior Trust Certificates as provided in Section 3.01 of the Trust Deed.

• To the extent permitted by applicable law, any payments due and not punctually paid on or in respect of the Senior Trust Certificates shall bear interest until paid at the applicable Certificate Rate of Interest plus [ ]% (the "Default Interest Rate").

• The Trustee shall prepay all of the Senior Trust Certificates, in whole but not in part, in the event that Petrobras Finance elects to repurchase the Trustee's rights to Purchased Receivables to be Generated pursuant to Section 5.1(b) of the Receivables Purchase Agreement.

• So long as the Senior Trust Certificates are listed on the Luxembourg Stock Exchange and the rules of the Luxembourg Stock Exchange so require, there shall be maintained a Paying Agent and a Transfer Agent in Luxembourg (the "Luxembourg Paying Agent").

• The Senior Trust Certificates to be so prepaid shall be designated by the Servicer pursuant to Section 2.02(a) of the Servicing Agreement.

• The Series [ ] Senior Trust Certificates may forthwith be executed and delivered by the Trustee in accordance with the provisions of Section 2.03 of the Trust Deed.

• The Trustee shall pay any stamp, administrative, excise or property Taxes arising in a taxing jurisdiction in connection with the Senior Trust Certificates and shall indemnify the Senior Certificate Holders for any such stamp, administrative, excise or property Taxes paid by Senior Certificate Holders.