Certificate Rate Sample Clauses

The Certificate Rate clause defines the specific interest rate or yield that applies to a financial certificate, such as a certificate of deposit or a similar instrument. This clause typically outlines how the rate is determined—whether it is fixed, variable, or tied to an external benchmark—and may specify the frequency of rate adjustments or compounding periods. By clearly stating the applicable rate and its calculation method, the clause ensures transparency for both parties and helps prevent disputes over interest payments or returns.
Certificate Rate. With respect to the Class A-2 Certificates, on the second LIBOR Business Day immediately preceding each Distribution Date (referred to in this sentence as the “current Distribution Date”) the Trustee shall determine LIBOR and the Class A-2 Certificate Rate for such Class and the Distribution Date next succeeding such current Distribution Date and inform the Servicer (at the facsimile number given to the Trustee in writing) of such rate.
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Certificate Rate. As to each Class of Senior Certificates, the per annum rate set forth as follows: Class IA-1: 6.50%, Class IA-2: 6.84%, Class IA-3: 7.23%, Class IIA: 6.98%, Class IS: 0.45% and Class IIS: 0.50%; provided, however, with respect to any Distribution Date after the first Distribution Date and each Class of Group IA Certificates, if the Maximum Rate for such Distribution Date is less than the rate designated to such Class in the immediately preceding clause, the Certificate Rate for such Distribution Date shall be the Maximum Rate. Certificate Register and Certificate Registrar. The register established, and the registrar appointed, pursuant to Section 5.02.
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Certificate Rate. Subject to the terms of the Trust Agreement (including the availability of funds after payment of the Scheduled Servicing Fee), and until the Notes have been paid in full, interest shall be paid with respect to this Certificate at a variable per annum rate equal to the Certificate Rate for such day. The Certificate Rate shall be (i) while the Swap Provider's obligations with respect to variable rate interest payments under the Swap Agreement are in the Weekly Rate Mode, the "Weekly Rate"; and (ii) while the Swap Provider's obligations with respect to variable rate interest payments under the Swap Agreement are in the Flex Rate Mode, the "Flex Rate." If at any time there shall be no Swap Agreement in effect, or if on any Certificate Interest Payment Date the Trustee has not received any Swap Payment, Certificateholders shall, pursuant to the terms of the Trust Agreement, become entitled to receive distributions of Guaranteed Interest on the Notes calculated at the Fixed Rate on the Notes less the Servicer Spread.
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Certificate Rate. The per annum rate of interest borne by each Class of Certificates (other than the Class A-P Certificates), which (i) in the case of the Class 1-A1, Class 1-A2, Class 1-A3, Class 1-AX and Class A-R Certificates will be 6.00% and, (ii) in the case of the Class 2-A1, Class 2-A2, Class 2-A3 and Class 2-AX Certificates will be 5.50%. With respect to each Class of Subordinated Certificates, the per annum rate of interest will equal the fraction, expressed as a percentage, (I) the numerator of which will equal the sum of (i) the product of (x) 6.00% and (y) the Group One Subordinated Amount, and (ii) the product of (x) 5.50% and (y) the Group Two Subordinated Amount and (II) the denominator of which will equal the sum of the Group One Subordinated Amount and the Group Two Subordinated Amount. For federal income tax purposes, the Certificate Rate on each Class of Subordinate Certificates can be expressed as a per annum rate equal to the weighted average of the interest rates on the Lower-Tier REMIC Regular Interests ending with the designation “A” weighted on the basis of their principal amounts immediately prior to such Distribution Date. Interest with respect to each Class of Certificates (other than the Class A-P Certificates) shall be calculated based on a 360 day year comprised of twelve 30-day months.
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Certificate Rate. SECTION 2.2.1. DETERMINING THE INTEREST RATE. BY PURCHASING AUCTION RATE CERTIFICATES, WHETHER IN AN AUCTION OR OTHERWISE, EACH PURCHASER OF THE AUCTION RATE CERTIFICATES, OR ITS BROKER-DEALER, MUST AGREE AND SHALL BE DEEMED BY SUCH PURCHASE TO HAVE AGREED (I) TO PARTICIPATE IN AUCTIONS ON THE TERMS DESCRIBED HEREIN, (II) TO HAVE ITS BENEFICIAL OWNERSHIP OF THE AUCTION RATE CERTIFICATES MAINTAINED AT ALL TIMES IN BOOK-ENTRY FORM FOR THE ACCOUNT OF ITS PARTICIPANT, WHICH IN TURN WILL MAINTAIN RECORDS OF SUCH BENEFICIAL OWNERSHIP AND (III) TO AUTHORIZE SUCH PARTICIPANT TO DISCLOSE TO THE AUCTION AGENT SUCH INFORMATION WITH RESPECT TO SUCH BENEFICIAL OWNERSHIP AS THE AUCTION AGENT MAY REQUEST. SO LONG AS THE OWNERSHIP OF AUCTION RATE CERTIFICATES IS MAINTAINED IN BOOK-ENTRY FORM, AN EXISTING CERTIFICATEHOLDER MAY SELL, TRANSFER OR OTHERWISE DISPOSE OF AUCTION RATE CERTIFICATES ONLY PURSUANT TO A BID OR SELL ORDER PLACED IN AN AUCTION OR OTHERWISE SELL, TRANSFER OR DISPOSE OF AUCTION RATE CERTIFICATES THROUGH A BROKER-DEALER, PROVIDED THAT, IN THE CASE OF ALL TRANSFERS OTHER THAN PURSUANT TO AUCTIONS, SUCH EXISTING CERTIFICATEHOLDER, ITS BROKER-DEALER OR ITS PARTICIPANT ADVISES THE AUCTION AGENT OF SUCH TRANSFER. AUCTIONS SHALL BE CONDUCTED ON EACH AUCTION DATE, IF THERE IS AN AUCTION AGENT ON SUCH AUCTION DATE, IN THE FOLLOWING MANNER: (A) (I) PRIOR TO THE SUBMISSION DEADLINE ON EACH AUCTION DATE RELATING TO A CLASS OF AUCTION RATE NOTES: (A) EACH EXISTING CERTIFICATEHOLDER OF THE APPLICABLE CLASS OF AUCTION RATE NOTES MAY SUBMIT TO A BROKER-DEALER BY TELEPHONE OR OTHERWISE ANY INFORMATION AS TO: (1) THE PRINCIPAL AMOUNT OF OUTSTANDING AUCTION RATE CERTIFICATES OF SUCH CLASS, IF ANY, OWNED BY SUCH EXISTING CERTIFICATEHOLDER WHICH SUCH EXISTING CERTIFICATEHOLDER DESIRES TO CONTINUE TO OWN WITHOUT REGARD TO THE CERTIFICATE RATE FOR THE NEXT SUCCEEDING AUCTION PERIOD; (2) THE PRINCIPAL AMOUNT OF OUTSTANDING AUCTION RATE CERTIFICATES OF SUCH CLASS, IF ANY, WHICH SUCH EXISTING CERTIFICATEHOLDER OFFERS TO SELL IF THE CERTIFICATE RATE FOR THE NEXT SUCCEEDING AUCTION PERIOD SHALL BE LESS THAN THE RATE PER ANNUM SPECIFIED BY SUCH EXISTING CERTIFICATEHOLDER; AND/OR (3) THE PRINCIPAL AMOUNT OF OUTSTANDING AUCTION RATE CERTIFICATES OF SUCH CLASS, IF ANY, OWNED BY SUCH EXISTING CERTIFICATEHOLDER WHICH SUCH EXISTING CERTIFICATEHOLDER OFFERS TO SELL WITHOUT REGARD TO THE CERTIFICATE RATE FOR THE NEXT SUCCEEDING AUCTION PERIOD; AND (B) ONE OR MORE BROKER-DEALERS MAY CONTACT ...
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Related to Certificate Rate

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

  • Determination of Pass-Through Rates for LIBOR Certificates (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. "Telerate Page 3750" means the display page currently so designated on the Moneyline Telerate Service (formerly the Dow Jones Markets) (or such other pag▇ ▇▇ may replace that page on that service for the purpose of displaying comparable rates or prices).

  • Certificate No 2-A-1-[__] Cut-off Date: October 1, 2002 First Distribution Date: November 25, 2002 Last Scheduled Distribution Date: December 25, 2032 Pass-Through Rate: 3.500% Initial Certificate Principal Balance of this Certificate $[______] ("Denomination"): Initial Certificate Principal Balances of all Certificates $99,624,000 of this Class: CUSIP: 55265K ME 6 MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. MASTR ASSET SECURITIZATION TRUST 2002-7 Mortgage Pass-Through Certificates, Series 2002-7 Class 2-A-1 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of three pools of conventional mortgage loans (the "Mortgage Loans") secured by first liens on one- to four-family residential properties Mortgage Asset Securitization Transactions, Inc., as Depositor Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Principal Balance at any time may be less than the Certificate Principal Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer or the Trustee referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that _______________ is the registered owner of the Percentage Interest evidenced by this Certificate in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by Mortgage Asset Securitization Transactions, Inc. (the "Depositor"). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, UBS Warburg Real Estate Securities Inc., as transferor (the "Transferor"), Wells Fargo Bank Minnesota, N.A., as master servicer (the "Servicer"), ▇▇▇ ▇achovia Bank, National Association, as trustee (the "Trustee"). Distributions on this Certificate will be made primarily from collections on the Mortgage Loans in Loan Group 2 pursuant to the terms of the Agreement. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trustee.

  • LIBOR Certificates Notional Amount Certificates........... None. Notional Amount Components............. None. Offered Certificates................... All Classes of Certificates other than the Private Certificates. Physical Certificates.................. Class A-R Certificates and the Private Certificates. Planned Principal Classes.............. None.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.