Excess Distribution Certificates definition

Excess Distribution Certificates means the certificates, 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(m) and 2.9(f) of the Administration Agreement.
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Examples of Excess Distribution Certificates in a sentence

  • No further Excess Distribution Certificates shall be issued except pursuant to paragraph (c) or (d) below.

  • No further Excess Distribution Certificates shall be issued except pursuant to clause (c) or (d) below.

  • Upon the formation of the Trust by the contribution by the Depositor pursuant to Section 2.5 and until the issuance of the Excess Distribution Certificates, the Depositor shall be the sole beneficial owner of the Trust.

  • The Eligible Lender Trustee shall not have the power, except upon the written direction of the Excess Distribution Certificateholders evidencing not less than a majority of the aggregate percentage interest of the Excess Distribution Certificates and except as expressly provided in the Basic Documents, to sell the Trust Student Loans after the payment in full of the Notes.

  • The Excess Distribution Certificates shall receive payments as provided in Sections 2.8(m) and 2.9(f), as applicable, of the Administration Agreement.

  • The Eligible Lender Trustee makes no representations as to the validity or sufficiency of this Agreement, the Excess Distribution Certificates, or any other Basic Document (other than the signature of and authentication by the Eligible Lender Trustee on the Excess Distribution Certificates), or the Notes, or of any Trust Student Loan or related documents.

  • The recitals contained herein and in the Excess Distribution Certificates (other than the signature of and authentication by the Eligible Lender Trustee on the Excess Distribution Certificates) shall be taken as the statements of the Depositor and the Eligible Lender Trustee assumes no responsibility for the correctness thereof.

  • The Excess Distribution Certificates shall be executed on behalf of the Trust by manual or facsimile signature of an authorized officer of the Eligible Lender Trustee.

  • The Excess Distribution Certificates shall be issued in one or more registered, definitive physical certificates substantially in the form of Exhibit A hereto.

  • The Administrator and any Affiliate thereof may in its individual or any other capacity become the owner or pledgee of the Excess Distribution Certificates or Notes with the same rights as it would have if it were not the Administrator or an Affiliate thereof, except as expressly provided herein in any other Basic Document.

Related to Excess Distribution Certificates

  • 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.

  • 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.

  • Class N Certificate means any of the Certificates with a "Class N" designation on the face thereof, substantially in the form of Exhibit A-4 attached hereto, and evidencing a portion of a class of "regular interests" in REMIC III for purposes of the REMIC Provisions.