Floating Rate Certificate definition

Floating Rate Certificate. A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.
Floating Rate Certificate. As specified in the Preliminary Statement.
Floating Rate Certificate. A Regular Certificate on which interest accrues during each Interest Accrual Period at a floating rate which is established on each related Interest Determination Date in accordance with Section 3.03 and the terms of such Certificate.

Examples of Floating Rate Certificate in a sentence

  • Each Floating Rate Certificate bears profit on its outstanding face amount from the Profit Commencement Date at the rate per annum (expressed as a percentage) equal to the Profit Rate, such profit being payable in arrear on each Periodic Distribution Date.

  • For federal income tax purposes, each holder of a Floating Rate Certificate is deemed to own an undivided beneficial ownership interest in a REMIC regular interest and the right to receive payments from either the Net WAC Rate Carryover Reserve Account or the Swap Account in respect of the Net WAC Rate Carryover Amount or the obligation to make payments to the Swap Account.

  • In the event that any such Class is resecuritized in a REMIC, the obligation under the Interest Rate Swap Agreement to pay any such Swap Termination Payment (or any shortfall in Swap Provider Fee), will be made by one or more of the REMIC Regular Interests issued by the resecuritization REMIC subsequent to such REMIC Regular Interest receiving its full payment from any such Floating Rate Certificate.

  • Floating Rate Certificate Provisions:Not Applicable Not Applicable 15.

  • As a result of the foregoing, the amount of distributions and taxable income on the REMIC regular interest corresponding to a Floating Rate Certificate may exceed the actual amount of distributions on the Floating Rate Certificate.


More Definitions of Floating Rate Certificate

Floating Rate Certificate. A Certificate that provides for the payment of interest at a Floating Certificate Rate determined periodically by reference to a formula specified pursuant to Section 5.01 and the related Series Supplement.
Floating Rate Certificate shall have the meaning assigned in Section 12.02 hereof.
Floating Rate Certificate means a Certificate issued with a floating rate interest payment obligation and with a Tenor of not less than 7 days and not more than 10 years* in or substantially in the form of Schedule 2, if a Global Certificate, or the Annex to Schedule 2, if a Definitive Certificate, as the case may be (with such changes as the Issuer and the relevant Agent(s) and Dealer(s) may agree in writing);
Floating Rate Certificate. Any of the Class 4 A-2 Floating Rate Certificates, Class 5 A-3 Floating Rate Certificates or Class 6 A-3 Floating Rate Certificates.
Floating Rate Certificate. Any Mezzanine Certificate.
Floating Rate Certificate. Any Class M-1A Certificates, Class M-2 Certificates, Class M-4A Certificates and Class M-5A Certificates.
Floating Rate Certificate. (dd) "Global Securities"; (ee) "Guaranteed Investment Contract"; (ff) "Letter of Credit"; (gg) "Limited Guarantor"; (hh) "Limited Guaranty"; (ii) "Notional Amount"; (jj) "Optional Exchange Date"; (kk) "Pass Through Rate"; (ll) "Permitted Investments";