Examples of Class N Notes in a sentence
After all Classes of Notes (other than the Class N Notes and the Class XS Notes) are no longer Outstanding, any references to the Controlling Class of Notes shall instead refer to the Majority Certificateholders.
Consequently, the Class N Notes and the Class XS Notes are not transferable other than pursuant to an exemption from the registration requirements of the Securities Act, or pursuant to an effective registration statement under the Securities Act, and satisfaction of certain other provisions specified herein.
Any Noteholder desiring to effect a transfer of Class N Notes or interests therein shall, and does hereby agree to, indemnify the Issuer, the Depositor, the Owner Trustee, the Indenture Trustee, the Securities Administrator and the Note Registrar against any liability that may result if the transfer is not so exempt or is not made in accordance with such federal and state laws.
None of the Issuer, the Depositor, the Indenture Trustee, the Securities Administrator or the Note Registrar is obligated to register or qualify any Class N Notes under the Securities Act or any other securities law or to take any action not otherwise required under this Indenture to permit the transfer of any Class N Note or interest therein without registration or qualification.
The Issuing Entity, at the direction of the Depositor or the Administrator, may elect to register, or cause the registration of, the Class N Notes and the Class XS Notes under the Securities Act or the securities laws of any other jurisdiction, in which case the Issuing Entity shall deliver, or cause to be delivered, to the Indenture Trustee and the Note Registrar such Opinions of Counsel, Officer’s Certificates and other information as determined by the Depositor as necessary to effect such registration.
All payments made by the Issuer with respect to this Note shall be equal to this Note’s pro rata share of the aggregate payments on all Class N Notes as described above, and shall be applied as between interest and principal as provided in the Indenture.
The Class N Notes and the Class XS Notes have not been or will be registered under the Securities Act or the securities laws of any other jurisdiction.
The amount deposited in the Note Distribution Account pursuant to Section 2.7(b)(xvi) shall be applied to the Class N Notes, until the Outstanding Amount of the Class N Notes is reduced to zero.
The Owner Trustee acknowledges receipt of the Interest Rate Swap Agreement and declares that it holds and will continue to hold these documents and any amendments, replacements or supplements thereto for the use and benefit of all present and future Holders of the Class N Notes.
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