VRR Specific Grantor Trust Assets definition

VRR Specific Grantor Trust Assets. The portion of the Trust Fund consisting of (i) the Class VRR Upper-Tier Regular Interest, together with all distributions thereon and proceeds thereof, (ii) the Vertically Retained Percentage of any Excess Interest collected on the ARD Mortgage Loans, and (iii) the Vertically Retained Percentage of amounts held from time to time in the Excess Interest Distribution Account.
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VRR Specific Grantor Trust Assets. The portion of the Trust Fund consisting of (i) the Vertically Retained Percentage of any Excess Interest collected on the ARD Mortgage Loans and (ii) the Vertically Retained Percentage of amounts held from time to time in the Excess Interest Distribution Account (if established). Because the Trust Fund will not include ARD Mortgage Loans as of the Closing Date, there will be no VRR Specific Grantor Trust Assets. Accordingly, all references in this Agreement to “VRR Specific Grantor Trust Assets” shall be disregarded.
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Examples of VRR Specific Grantor Trust Assets in a sentence

  • The Depositor hereby conveys all right, title and interest in and to any VRR Specific Grantor Trust Assets, any Class S Specific Grantor Trust Assets and any other property constituting the Grantor Trust to the Trustee, receipt of which is hereby acknowledged.

  • In addition, the parties intend that the portion of the Trust Fund consisting of any VRR Specific Grantor Trust Assets and any Class S Specific Grantor Trust Assets will be treated as a grantor trust under subpart E of Part I of subchapter J of the Code.

  • As provided herein, the Certificate Administrator will elect that two segregated portions of the Trust Fund (other than any VRR Specific Grantor Trust Assets and any Class S Specific Grantor Trust Assets) be treated for federal income tax purposes as two separate REMICs (designated as the “Upper-Tier REMIC” and the “Lower-Tier REMIC”, respectively).

  • Solely for federal income tax purposes, the Class VRR Certificates and the Uncertificated VRR Interest shall represent undivided beneficial interests in any VRR Specific Grantor Trust Assets, and the Class S Certificates shall represent undivided beneficial interests in any Class S Specific Grantor Trust Assets.

  • For the avoidance of doubt, there are no VRR Specific Grantor Trust Assets and no Class S Specific Grantor Trust Assets, no Grantor Trust shall be established and no Class S Certificates will be issued hereunder.

  • The Certificate Administrator shall execute and cause to be authenticated and delivered to and upon the order of the Depositor, the Grantor Trust Certificates in exchange for the VRR Specific Grantor Trust Assets and the Class S Specific Grantor Trust Assets.

  • At all times, the Class V-3 Certificates shall collectively represent beneficial ownership interests in the Class V-3 Percentage of the VRR Specific Grantor Trust Assets.

  • At all times, the Class V-2 Certificates shall collectively represent beneficial ownership interests in the Class V-2 Percentage of the VRR Specific Grantor Trust Assets.

  • Solely for federal income tax purposes, the Class VRR Certificates shall represent undivided beneficial interests in any VRR Specific Grantor Trust Assets, and the Class S Certificates shall represent undivided beneficial interests in any Class S Specific Grantor Trust Assets.

  • At all times, the VRR Interest shall represent beneficial ownership interests in the VRR Interest Percentage of the VRR Specific Grantor Trust Assets.

Related to VRR Specific Grantor Trust Assets

  • Liquidating Trust Assets means the assets of a Debtor or Debtor-Controlled Entity to be transferred to a Liquidating Trust as may be determined by the Plan Administrator, which shall be described in a Liquidating Trust Agreement.

  • Grantor Trust means a Trust other than a RIC.

  • Trust Assets means, with respect to the Appointments and to the extent held, deposited or invested by any Seller for the benefit of others (whether or not constituting all or a portion of the corpus of any trust) as collateral, trust assets or otherwise by the applicable Corporate Trust Contracts or any other applicable legal obligation, (a) all cash on hand or held in bank accounts (including the Deposits) or in money market funds, and (b) all shares, stock, bonds, debentures, notes, mortgages, guarantees, letters of credit, certificates of indebtedness, warrants, treasuries or other securities or financial instruments or property of any type or description.

  • Adverse Grantor Trust Event Either: (i) any impairment of the status of the Grantor Trust Pool as a Grantor Trust; or (ii) the imposition of a tax upon the Grantor Trust Pool or any of its assets or transactions.

  • Grantor Trust Provisions Subpart E of part I of subchapter J of the Code and Treasury Regulations Section 301.7701-4(c).

  • Delaware Trust Assets Purchaser means the Computershare Delaware Trust Company.

  • the Trust Fund means the Bond(s) referred to in the First Schedule to the Declaration of Trust and the property from time to time representing the same (and also includes any other property which may become Trust Property as a result of any loan to the Trustees or any addition by way of gift or any accumulation of income).

  • REMIC I Assets All of the Mortgage Pool Assets.

  • Liquidating Trust Agreement means an agreement evidencing the terms and provisions governing a Liquidating Trust that shall be entered into prior to the establishment of such Liquidating Trust and pursuant to which a Liquidating Trustee shall manage and administer Liquidating Trust Assets.

  • Non-Lead Securitization Trust means the Securitization Trust into which any Non-Lead Securitization Note is deposited.

  • REMIC II Assets The REMIC I Regular Interests.

  • Indenture Trust Estate means all money, instruments, rights and other property that are subject or intended to be subject to the lien and security interest of the Indenture for the benefit of the Noteholders (including all Collateral Granted to the Indenture Trustee), including all proceeds thereof.

  • Grantor Trust Certificates Any class of commercial mortgage pass-through certificates issued under this Agreement that is designated as evidencing an interest in the Grantor Trust. The Class S Certificates and the Class VRR Certificates shall be the only Classes of Grantor Trust Certificates issued under this Agreement.

  • Note A-4 Trust Fund means the trust formed pursuant to the Note A-4 PSA.

  • Owner Trust Estate means all right, title and interest of the Trust in and to the property and rights assigned to the Trust pursuant to Article II of the Sale and Servicing Agreement, all funds on deposit from time to time in the Trust Accounts and all other property of the Trust from time to time, including any rights of the Trust pursuant to the Sale and Servicing Agreement.

  • Note A-2 Trust Fund means the trust formed pursuant to the Note A-2 PSA.

  • Liquidation Trust Agreement means the Liquidation Trust Agreement to be dated as of the Effective Date establishing the terms and conditions of the Liquidation Trust, substantially in the form attached hereto as Exhibit B.

  • Uncertificated REMIC I Regular Interests The Uncertificated REMIC I Regular Interests Z together with the interests identified in the table below, each representing an undivided beneficial ownership interest in REMIC I, and having the following characteristics:

  • Miscellaneous Interests means the entire interest of the Vendor in and to all property, assets and rights, other than the Petroleum and Natural Gas Rights and the Tangibles, to the extent such property, assets and rights pertain to the Petroleum and Natural Gas Rights or the Tangibles, or any rights relating thereto, including, without limitation of the generality of the foregoing, the entire interest of the Vendor in:

  • Trust Funds means, in the aggregate, all of the Funds and Accounts.

  • Note A-3 Trust Fund means the trust formed pursuant to the Note A-3 PSA.

  • Liquidating Trust means the liquidating trust maintained by the Trustee holding the Trust Assets of the Partnership, identified as the "PLM Equipment Growth Fund III Liquidating Trust"; also referred to herein as the "Trust."

  • Collateral Interest Holder means the entity so designated in the Loan Agreement.

  • Liquidation Trust means the trust created pursuant to the Liquidation Trust Agreement on the Effective Date in accordance with the Plan, the Confirmation Order and the Liquidation Trust Agreement.

  • Note A-1 Trust Fund means the trust formed pursuant to the Note A-1 PSA.

  • REMIC I Regular Interests The Classes of undivided beneficial interests in REMIC I designated as “regular interests” in the table titled “REMIC I Interests” in the Preliminary Statement hereto. The REMIC I Regular Interests, together with the Class R-1 Residual Interest, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC I Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.