Common use of Certificate Balance Clause in Contracts

Certificate Balance. As to any Outstanding Certificate prior to the initial Distribution Date, the denomination thereof; and as to any such Outstanding Certificate subsequent to such initial Distribution Date, the denomination thereof multiplied by the then applicable Factor; provided, however, that in the case of any Outstanding Certificate representing beneficial interests in Excess Yield Amounts, the Certificate Balance subsequent to the initial Distribution Date will be equal to the related Percentage Interest multiplied by the then applicable notional principal balance of the Class of which such Outstanding Certificate forms a part (calculated as provided in the related Prospectus Supplement). As to any Certificate that is not an Outstanding Certificate at the time of determination, zero.

Appears in 4 contracts

Samples: SMBS Master Trust Agreement, Federal National Mortgage Association, Federal National Mortgage Association

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Certificate Balance. As to any Outstanding Certificate prior to the initial Distribution Date, the denomination thereof; and as to any such Outstanding Certificate subsequent to such initial Distribution Date, the denomination thereof multiplied by the then applicable Factor; provided, however, that in the case of any Outstanding Certificate representing beneficial interests in Excess Yield Amounts, the Certificate Balance subsequent to the initial Distribution Date will be equal to the related applicable Percentage Interest multiplied by the then applicable notional principal balance of the Class of which such Outstanding Certificate forms a part (calculated as provided in the related Prospectus Supplement). As to any Certificate that is not an Outstanding Certificate at the time of determination, zero.

Appears in 1 contract

Samples: Trust Agreement

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