Class RL Certificates definition

Class RL Certificates. Those certificates representing certain residual rights to distributions from the Lower-Tier REMIC in substantially the form set forth as Exhibit C-1 hereto.
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Class RL Certificates. The class of interests represented by the Class R Certificates representing the residual rights to distributions from the Lower-Tier REMIC created thereby.
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Class RL Certificates means those Certificates issued by the Trust in substantially the form of Exhibit B-14 hereto.
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Examples of Class RL Certificates in a sentence

  • As provided in the Pooling and Servicing Agreement and subject to certain limitations therein set forth, Class RL Certificates are exchangeable for new Class RL Certificates evidencing the same Percentage Interest as the Class RL Certificates exchanged.

  • The Class RL Certificates are issuable only as registered Certificates.

  • The Class RL Certificates represent ownership of the sole class of residual interest in REMIC 1.

  • Also issued under the Pooling and Servicing Agreement are the Class A Certificates, Class RL Certificates and Class RU Certificates (together with the Class B Certificates, the "Certificates").

  • Also issued under the Pooling and Servicing Agreement are Certificates designated as the Class A Certificates, Class B Certificates, and Class RU Certificates (together with the Class RL Certificates, the "Certificates.") Terms capitalized herein and not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.

  • Also issued under the Pooling and Servicing Agreement are Certificates designated as the Class A Certificates, Class B Certificates and Class RL Certificates (together with the Class RU Certificates, the "Certificates.") Terms capitalized herein and not otherwise defined herein shall have the respective meanings set forth in the Pooling and Servicing Agreement.

  • The right of the Holders of the Class RL Certificates so to exercise such optional purchase right is superior to such right of the Servicer.

  • For federal and state income tax purposes the Holders of the Class B Certificates shall be deemed to be the owners of the Reserve Fund except that the Holders of the Class RL Certificates and the Class RU Certificates shall be deemed to be the owners to the extent any distributions pursuant to Section 7.5(ix) are allocable to such Certificates, respectively.

  • Any amounts transferred by the Upper-Tier REMIC to the Reserve Fund shall be treated as amounts distributed by the Upper-Tier REMIC to the Holders of the Class B Certificates or the Class RL Certificates, as the case may be.

  • The Servicer may only exercise such optional right if the Owners of the Class RL Certificates decline to do so.

Related to Class RL Certificates

  • Class R Certificates All Certificates bearing the class designation of "Class R".

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class R-2 Certificate Any Certificate designated a “Class R-2 Certificate” on the face thereof, in the form set forth in Exhibit A-5 hereto, evidencing the Residual Interest in REMIC II and representing the right to the Percentage Interest of distributions provided for the Class R-2 Certificates as set forth herein.

  • Class P Certificates All Certificates bearing the class designation of "Class P".

  • Class R-I Certificate Any one of the Class R-I Certificates executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit D and evidencing an interest designated as a "residual interest" in REMIC I for purposes of the REMIC Provisions.