NIM Notes Clause Samples
The "NIM Notes" clause typically outlines the terms and conditions related to the issuance, management, or treatment of Net Interest Margin (NIM) Notes within a financial agreement. This clause may specify how NIM Notes are structured, the rights and obligations of holders, and the payment or priority of interest derived from the net interest margin of a pool of assets. For example, it might detail how interest payments are calculated and distributed to NIM Note holders or address scenarios such as default or prepayment. The core function of this clause is to provide clarity and structure regarding the handling of NIM Notes, ensuring all parties understand their entitlements and obligations, and thereby reducing the risk of disputes.
NIM Notes. The notes to be issued pursuant to the Indenture.
NIM Notes. The Insured NIM Notes and the Other NIM Notes.
NIM Notes. The notes to be issued pursuant to the Indenture. Non-Recoverable Advance: Any portion of an Advance previously made or proposed to be made by the Servicer that, in the good faith judgment of the Servicer, will not or, in the case of a current delinquency, would not, be ultimately recoverable by the Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise with respect to the related Mortgage Loan. Non-Recoverable Servicing Advance: Any portion of a Servicing Advance previously made or proposed to be made by the Servicer that, in the good faith judgment of the Servicer, will not or, in the 36 case of a current Servicing Advance, would not, be ultimately recoverable by the Servicer from the related Mortgagor, related Liquidation Proceeds or otherwise with respect to the related Mortgage Loan. Non-Supported Interest Shortfall: As defined in Section 4.02.
NIM Notes. The notes to be insured pursuant to the Indenture.