Excess Distribution Certificate definition

Excess Distribution Certificate means the certificate, substantially in the form of Exhibit A to the Trust Agreement, evidencing the right to receive payments thereon as set forth in Sections 2.8(j) and 2.9(f) of the Administration Agreement.
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Excess Distribution Certificate means the certificate, substantially in the form of Exhibit A to the Trust Agreement, evidencing the right to receive payments thereon as set forth in Sections 2.8(k) and 2.9(f) of the Administration Agreement.
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Excess Distribution Certificate means the certificate, substantially in the form of Exhibit A to the Trust Agreement.
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Examples of Excess Distribution Certificate in a sentence

  • The preceding provisions of this Section notwithstanding, the Trustee shall not be required to make and the Excess Distribution Certificate Registrar need not register transfers or exchanges of the Excess Distribution Certificate for a period of 15 days preceding any Distribution Date with respect to the Excess Distribution Certificate.

  • The Trustee hereby declares that it will hold the Trust Estate in trust upon and subject to the conditions set forth herein for the use and benefit of the holder of the Excess Distribution Certificate, subject to the obligations of the Trust under the other Basic Documents.

  • An Excess Distribution Certificate surrendered for registration of transfer or exchange shall be cancelled and subsequently disposed of by the Excess Distribution Certificate Registrar in accordance with its customary practice.

  • At the option of the holder of the Excess Distribution Certificate, the Excess Distribution Certificate may be exchanged for another Excess Distribution Certificate upon surrender of the Excess Distribution Certificate to be exchanged at the office or agency maintained pursuant to clause (f) below.

  • The Trustee shall sign on behalf of the Trust the tax returns of the Trust, unless applicable law requires a holder of the Excess Distribution Certificate to sign such documents, in which case such documents shall be signed by the Depositor or the then holder of the Excess Distribution Certificate.

  • Neither the Depositor nor the holder of the Excess Distribution Certificate shall direct the Trustee to take or refrain from taking any action if such action or inaction would be contrary to any obligation of the Trust or the Trustee under this Agreement or any of the other Basic Documents or would be contrary to Section 2.03 nor shall the Trustee be permitted to follow any such direction, if given.

  • Navient Funding, LLC hereby: (i) certifies that it owns 100% of the Excess Distribution Certificate issued by the Issuer; (ii) certifies that it consents to this Amendment Agreement in all respects; and (iii) instructs and directs Deutsche Bank Trust Company Americas, as Eligible Lender Trustee, to execute and deliver this Amendment Agreement in the name of the Issuer.

  • The Trustee may revoke such power and remove the Excess Distribution Certificate Paying Agent if the Trustee determines in its sole discretion that the Excess Distribution Certificate Paying Agent shall have failed to perform its obligations under this Agreement in any material respect.

  • No service charge shall be made for any registration of transfer or exchange of the Excess Distribution Certificate, but the Excess Distribution Certificate Registrar may require payment of a sum sufficient to cover any tax or governmental charge that may be imposed in connection with any transfer or exchange of the Excess Distribution Certificate.

  • Concurrently with the sale of the Trust Student Loans to the Trust pursuant to the Depositor Sale Agreement, the Trustee shall cause the Excess Distribution Certificate to be executed on behalf of the Trust, authenticated and delivered to or upon the written order of the Depositor, signed by its chairman of the board, its president or any vice president, without further action by the Depositor.


More Definitions of Excess Distribution Certificate

Excess Distribution Certificate means the certificate, substantially in the form of Exhibit C to the Trust Agreement, evidencing the right to receive payments thereon as set forth in Sections 2.7C.14, 2.8.1D, 2.8.2B.2 and 2.8.3B.4 of the Administration Agreement.
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Excess Distribution Certificate means the certificate issued by the Trust representing excess amounts distributed to the Seller in accordance with the Sale Agreement, substantially in the form of Exhibit ___ to the Trust Agreement.
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Excess Distribution Certificate means the certificate, substantially in the form of Exhibit A to the Trust Agreement. “Excess Distribution Certificate Paying Agent” means any paying agent or co­paying agent appointed pursuant to Section 3.03(g) of the Trust Agreement, which shall initially be the Indenture Trustee.
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Related to Excess Distribution Certificate

  • Excess Distribution Unit is defined in Section 6.1(d)(iii)(A).

  • Excess Distribution is defined in Section 6.1(d)(iii)(A).

  • Class Distribution Amount As to each Combinable Class and Distribution Date, an amount equal to the distribution of principal and/or interest on such Distribution Date in respect of the Related REMIC Class multiplied by a fraction the numerator of which is equal to the Aggregate Denomination of such Class at the close of business on the related Record Date and the denominator of which is the original principal amount of the Related REMIC Class having the same letter designation. As to each RCR Class, the sum of (i) the Class Interest Distribution Amount for such Class and (ii) the Class Principal Distribution amount for such Class.

  • Allocation Certificate shall have the meaning set forth in Section 5.20.

  • Certificate Distribution Amount means, as of any Payment Date, the amount being distributed to the Trust Certificateholders on such Payment Date.

  • Certificate Percentage Interest means, with respect to a Certificate, the percentage specified on such Certificate as the Certificate Percentage Interest, which percentage represents the beneficial interest of such Certificate in the Trust. The initial Certificate Percentage Interest held by the Depositor shall be 100%.

  • Class B Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class B Noteholders’ Interest Distribution Amount and the Class B Noteholders’ Principal Distribution Amount for that distribution date.

  • Class C Certificateholder means the person in whose name a Class C Certificate is registered on the Certificate Register.

  • Class R-X Certificate Any one of the Class R-X Certificates executed by the Trustee and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-R-X and evidencing the ownership of the Class R-IV Interest, the Class R-V Interest and the Class R-VI Interest.

  • Class Distribution Order means an order entered by the Court authorizing and directing that the Net Settlement Fund be distributed, in whole or in part, to Authorized Claimants.

  • Class A Noteholders’ Distribution Amount means, for any distribution date, the sum of the Class A Noteholders’ Interest Distribution Amount and the Class A Noteholders’ Principal Distribution Amount for that distribution date.

  • Lead Securitization Directing Certificateholder means the “Directing Certificateholder” as defined in the Lead Securitization Servicing Agreement.

  • Class A-R Certificate The Certificate executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-R and Exhibit C hereto.

  • Certificate Distribution Account has the meaning assigned to such term in the Trust Agreement.