Class SB Certificate Sample Clauses
The Class SB Certificate clause defines the rights and obligations associated with a specific class of securities, typically referred to as "SB" certificates, within a securitization structure. This clause outlines the characteristics of the Class SB Certificate, such as its payment priority, entitlement to distributions, and any special features or restrictions that distinguish it from other classes of certificates. For example, the clause may specify that Class SB Certificates receive payments only after other classes have been paid or that they are subject to unique risk allocations. Its core practical function is to clearly delineate the terms and conditions governing the Class SB Certificate, ensuring transparency and proper allocation of cash flows and risks among investors.
Class SB Certificate. 11- Closing Date........................................................................-11- Code ...........................................................................-11- Compensating Interest...............................................................-11- Corporate Trust Office..............................................................-11- Curtailment.........................................................................-11-
Class SB Certificate. Any one of the Class SB Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit C, subordinate to the Class A Certificates, Class M Certificates and Class B Certificates with respect to distributions and the allocation of Realized Losses as set forth in Section 4.05, and evidencing an interest comprised of “regular interests” in REMIC II for purposes of the REMIC Provisions together with certain obligations with respect to payments of Basis Risk Shortfall Carry-Forward Amounts. Closing Date: [__________], 20[_].
Class SB Certificate. Any one of the Class SB Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit C, subordinate to the Class A Certificates and the Class M Certificates with respect to distributions and the allocation of Realized Losses as set forth in Section 4.05, and evidencing an interest comprised of "regular interests" in REMIC IV together with certain rights to payments under the Swap Agreements for purposes of the REMIC Provisions. Closing Date: March 29, 2006. Code: The Internal Revenue Code of 1986. Commission: The Securities and Exchange Commission.