Sale of Certificates Sample Clauses
The 'Sale of Certificates' clause defines the terms under which certificates—such as certificates of ownership, compliance, or entitlement—may be sold or transferred by one party to another. Typically, this clause outlines the conditions required for a valid sale, such as necessary approvals, documentation, and any restrictions on transferability. For example, it may specify that certificates can only be sold to qualified buyers or that certain procedures must be followed to complete the transaction. The core function of this clause is to ensure that the sale and transfer of certificates are conducted in an orderly and legally compliant manner, thereby reducing the risk of disputes or invalid transfers.
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Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of ▇▇▇▇▇ ▇▇▇▇▇▇ llp, ▇ ▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Seller will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit Seller), Class R Certificates registered in the name of CHEC Residual, LLC, a Delaware limited liability company, and the Class X-IO Certificates, registered in the name of CHEC Residual, LLC, a Delaware limited liability company (all such events shall be referred to herein as the “Closing”).
Sale of Certificates. 44 ARTICLE V
Sale of Certificates. At 8 a.m., Pacific time on the Startup Day (the "Closing"), at the offices of ▇▇▇▇▇ & ▇▇▇▇▇▇ LLP, ▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller will sell and convey the Initial Mortgage Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Initial Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters, the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co., or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, (ii) to the initial purchasers thereof, Class S Certificates with a cumulative Percentage Interest equal to 100%, (iii) to the initial purchasers thereof, Class C-IO Certificates with an aggregate Percentage Interest in each Class of 100%, (iv) to the respective registered owners thereof, a Class D Certificate with a Percentage Interest equal to 100% and a Class R Certificate with a Percentage Interest equal to 99.999%, registered in the names designated by the Depositor and (v) to the Trustee, the Tax Matters Person Residual Interest. Upon the Trustee's receipt of the entire net proceeds of the sale of the Certificates the Depositor shall instruct the Trustee to deposit (a) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (b) an amount equal to the Original Capitalized Interest Amount to the Capitalized Interest Account contributed by the Depositor out of such proceeds or otherwise. The Trustee shall then remit the entire balance of such net proceeds to the Depositor in accordance with instructions delivered by the Depositor. END OF ARTICLE IV
Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ (or at such other location acceptable to the Seller), the Seller will sell and convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriter (as designee of the Depositor), the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriter shall direct, against payment to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor), Class R Certificates with a Percentage Interest equal to _______%, registered in the name of the initial purchasers thereof and a Class R Certificate with a Percentage Interest equal to _____%, registered in the name of the Tax Matters Person (all such events shall be referred to herein as the "Closing").
Sale of Certificates. At 11 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇-▇▇▇▇ (or at such other location acceptable to the Seller), the Seller will sell and convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Initial Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters, the Offered Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee and (ii) to the respective registered owners thereof, Class R Certificates with a Percentage Interest equal to 99.999%, registered in the name of the initial purchasers thereof and a Class R Certificate with a Percentage Interest equal to 0.001%, registered in the name of the Tax Matters Person (all such events shall be referred to herein as the "Closing").
Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of ▇▇▇▇▇ ▇▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Seller will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), the Offered Certificates (other than the Class M-10 Certificates) with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit Seller), Class M-10 Certificates registered in the name of Cede & Co. or in such other name as CHEC Residual, LLC, a Delaware limited liability company shall direct for the account of CHEC Residual, LLC as beneficial owner. Class R Certificates registered in the name of CHEC Residual, LLC, a Delaware limited liability company, and the Class X-IO Certificates, registered in the name of CHEC Residual, LLC, a Delaware limited liability company (all such events shall be referred to herein as the “Closing”).
Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day (the "Closing"), at the offices of ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ LLP, 1301 Sixth Avenue, New York, New York (or at such other location acceptable to the Seller), the Sellers will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters the Class A Certificates and the Class B Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co., or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trust and (ii) to the respective registered Owners thereof, the Class C Certificates and a Residual Certificate of each Class, each with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation and a Residual Certificate of each Class, each with a Percentage Interest equal to 0.001%, registered in the name of ContiFunding Corporation. Upon the Trustee's receipt of the entire net proceeds of the sale of the Certificates, the Trustee shall remit the entire balance of such net proceeds to the Depositor in accordance with instructions delivered by the Depositor. END OF ARTICLE IV
Sale of Certificates. At 10:00 a.m. Eastern Time on the Startup Day, at the offices of ▇▇▇▇▇ & ▇▇▇▇▇▇ LLP, ▇▇▇▇ ▇ ▇▇▇▇▇▇, ▇.▇., ▇▇▇▇▇▇▇▇▇▇, ▇.▇. ▇▇▇▇▇, the Seller will sell and convey the Mortgage Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will (i) deliver to the Underwriters the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trustee, and (ii) deliver to First Alliance Portfolio Services, Inc. a Class R Certificate, with a Percentage Interest equal to 100%. Upon the Trustee's receipt of the entire net proceeds of the sale of the Class A Certificates the Seller shall instruct the Trustee to: (a) deposit (i) an amount equal to the Original Pre-Funded Amount in the Pre-Funding Account and (ii) an amount equal to the sum of the Group I Original Capitalized Interest Amount and the Group II Original Capitalized Interest Amount in the Capitalized Interest Account contributed by the Seller out of such proceeds or otherwise,(b) pay any fees and expenses identified by the Seller and (c) pay to the Seller the balance after deducting such amounts. The Seller shall pay directly to the Certificate Insurer the Initial Premium.
Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day, at the offices of Stroock & Stroock & ▇▇▇▇▇ LLP, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ (or at such other location acceptable to the Seller), the Seller and the Conduit Sellers will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Depositor will cause the Certificate Insurance Policies to be delivered to the Trustee and the Trustee will deliver (i) to the Underwriters (as designee of the Depositor), the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100% registered in the name of Cede & Co. or in such other names as the Underwriters shall direct, against payment to the Depositor of the purchase price thereof by wire transfer of immediately available funds to the Trustee as designee of the Depositor and (ii) to the respective registered owners thereof (as designees of the Depositor, the Seller and the Conduit Sellers), Class R Certificates registered in the name of CHEC Residual Corporation, a Nevada corporation, and the Class X-IO Certificates, registered in the name of CHEC Residual Corporation, a Nevada corporation (all such events shall be referred to herein as the "Closing"). END OF ARTICLE IV
Sale of Certificates. At 11:00 a.m. New York City time on the Startup Day (the "Closing"), at the offices of ▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ LLP, 1301 Sixth Avenue, New York, New York (or at such other location acceptable to the Seller), the Sellers will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Depositor and the Depositor will sell and convey the Home Equity Loans and the money, instruments and other property related thereto to the Trustee, and the Trustee will deliver (i) to the Underwriters the Class A Certificates with an aggregate Percentage Interest in each Class equal to 100%, registered in the name of Cede & Co., or in such other names as the Underwriters shall direct, against payment of the purchase price thereof by wire transfer of immediately available funds to the Trust; (ii) to the purchaser designated by the Depositor, the Class B Certificates with an aggregate Percentage Interest in such Class equal to 100%, registered in such name or names as the Depositor shall direct; and (iii) to the respective registered Owners thereof, a Class R Certificate, with a Percentage Interest equal to 99.999%, registered in the name of ContiSecurities Holding Corporation and a Class R Certificate, with a Percentage Interest equal to 0.001%, registered in the name of ContiFunding Corporation. Upon the Trustee's receipt of the entire net proceeds of the sale of the Certificates, the Trustee shall remit the entire balance of such net proceeds to the Depositor in accordance with instructions delivered by the Depositor. END OF ARTICLE IV