Conduit Security definition
Conduit Security means a security issued by a Municipal Issuer involving an arrangement or agreement entered into, directly or indirectly, with a person other than a Municipal Issuer, which arrangement or agreement provides for or secures repayment of the security. “Municipal Issuer” means a state or territory of the United States (including the District of Columbia), or any political subdivision or public instrumentality of a state or territory of the United States. A Conduit Security does not include a security that is:
Examples of Conduit Security in a sentence
With respect to each CMBS Conduit Security that becomes a Pledged Collateral Debt Security, the Collateral Advisor shall provide written notice to Moody’s identifying the top five commercial mortgage loans in the underlying collateral pool as of the date of purchase of such Pledged Collateral Debt Security by the Issuer.