Residual Certificate Clause Samples

Residual Certificate. The Class R Certificate. Seller: ▇▇▇▇▇▇ Brothers Holdings Inc. or its successor in interest or assigns.

Residual Certificate. Subject to the provisions of this Indenture, all amounts in the Residual Fund shall be paid to or on the order of the holder of the Residual Certificate free and clear of the lien of this Indenture. At delivery of the Initial Bonds, the Residual Certificate shall be delivered to, and registered on the books of the Corporation kept by the Trustee in the name of the City.

Residual Certificate. The Class W5-R Certificate or the Class W5-RL Certificate, as the context requires.

Residual Certificate. Subject to the provisions of this Master Indenture, all Sales Tax Revenues and the net proceeds of the Bonds of any Series shall be paid to the Trustee. At delivery of the Initial Bonds, the Residual Certificate shall be delivered to, and registered on the books of the Corporation, in the name of the designated holder of such Residual Certificate.

Residual Certificate. Class A-R Certificates. Retained Certificates........... None.

Residual Certificate. The Residual Certificate shall represent a fractional undivided beneficial interest in the Trust subordinated to the interests of the Investor Certificateholders, including the right to receive, subject to the terms and conditions set forth herein, (i) on each Distribution Date, the balance of the collections on the Purchased Contract Receivables after the Investor Certificateholders have received all distributions to which they are entitled hereunder and (ii) any other distribution to be made to the Residual Certificateholder as set forth in Article V hereof on such Distribution Date. The holder of the Residual Certificate shall have no right to vote with respect to the appointment of a successor Owner Trustee or the Servicer.

Residual Certificate. Any of the Class R Certificates executed and -------------------- authenticated by the Trustee substantially in the form set forth in Exhibit B hereto.

Residual Certificate. Payments under or in respect of the Residual Certificate shall be payable only from the sources provided therefor under this Trust Indenture and only upon the terms of this Trust Indenture. Notwithstanding anything to the contrary in this Trust Indenture or the Residual Certificate, no amounts shall be due and payable through or in respect of the Residual Certificate, and the registered owner of the Residual Certificate shall have no right to, or interest of any kind in, the payment of any such amount, unless and until the Trustee shall determine that funds are available therefor in accordance with Article V of this Trust Indenture and the Trustee shall in fact withdraw funds from the Funds and Accounts for such payment and transfer the same to the registered owner of the Residual Certificate. On the Delivery Date for the Series 2007 Bonds, the Residual Certificate shall be delivered to the State and paid to the State, in furtherance of the 2007 Sale Agreement, and registered on the books of the Authority kept by the Trustee.

Residual Certificate. 18 Rolling Three Month Delinquency Rate.............................. 19