Defeasance Collateral definition

Defeasance Collateral means: (i) a ▇▇▇▇▇▇▇ Mac Debt Security, (ii) a ▇▇▇▇▇▇ Mae Debt Security, (iii) U.S. Treasury Obligations, or (iv) FHLB Obligations.

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Defeasance Collateral means, with respect to any Defeasance Loan, the Government Securities required to be pledged in lieu of prepayment pursuant to the terms thereof.

Defeasance Collateral means, with respect to any Defeasance Loan, the United States Treasury obligations required to be pledged in lieu of prepayment pursuant to the terms thereof.

Examples of Defeasance Collateral in a sentence

• Additionally, the Issuer shall take such action, or execute and deliver such instruments as may be necessary to maintain and perfect, as a first priority interest, the Indenture Trustee’s security interest in the Defeasance Collateral.

• The interests of the Indenture Trustee in the Defeasance Collateral shall not secure, or otherwise be used for the payment of, fees and expenses for services rendered by the Indenture Trustee, the Paying Agent or the Securities Intermediary under this Agreement.

• The Issuer hereby irrevocably transfers, assigns and otherwise conveys to the Indenture Trustee, for the benefit of the Class A(2021-2) Noteholders, as their interests are described in this Agreement, all of the Issuer’s right, title, and interest in and to the Class A(2021-2) Defeasance Collateral.

• The Indenture Trustee hereby acknowledges its acceptance of such conveyance and its receipt of the Class A(2021-2) Defeasance Collateral, and the Indenture Trustee shall retain exclusive control or possession of the Class A(2021-2) Defeasance Collateral in accordance with this Agreement.

• The Indenture Trustee hereby acknowledges its acceptance of such conveyance and its receipt of the Class A(2023-1) Defeasance Collateral, and the Indenture Trustee shall retain exclusive control or possession of the Class A(2023-1) Defeasance Collateral in accordance with this Agreement.

More Definitions of Defeasance Collateral

Defeasance Collateral means money and (A) non-callable direct obligations of the United States of America, non-callable and non-prepayable direct federal agency obligations the timely payment of principal of and interest on which are fully and unconditionally guaranteed by the United States of America, non-callable direct obligations of the United States of America which have been stripped by the United States Treasury itself or by any

Defeasance Collateral means money and (A) non-callable direct obligations of the United States of America, non-callable and non-prepayable direct federal agency obligations the timely payment of principal of and interest on which are fully and unconditionally guaranteed by the United States of America, non-callable direct obligations of the United States of America which have been stripped by the United States Treasury itself or by any Federal Reserve Bank (not including “CATS,” “TIGRS” and “TRS” unless the Authority obtains Rating Confirmation with respect thereto) and the interest components of REFCORP bonds for which the underlying bond is non-callable (or non-callable before the due date of such interest component) for which separation of principal and interest is made by request to the Federal Reserve Bank of New York in book-entry form, and shall exclude investments in mutual funds and unit investment trusts;

Defeasance Collateral. With respect to any Defeasance Loan, the United States government obligations required or permitted to be pledged in lieu of prepayment pursuant to the terms thereof.

Defeasance Collateral shall have the meaning set forth in Section 2.4.1(b) hereof

Defeasance Collateral means Partial Defeasance Collateral or Total Defeasance Collateral, as applicable.

Defeasance Collateral. Noncallable government obligations of (or non-callable obligations, fully guaranteed as to timely payment by) the United States of America, as are permitted under the terms of a Mortgage Note or related Mortgage Loan documents, but only if such obligations or assets constitute "government securities" under the defeasance rule of the REMIC Provisions.

Defeasance Collateral means U.S. Obligations, which provide payments (i) on or prior to, but as close as possible to, the Business Day immediately preceding all Monthly Payment Dates and other scheduled payment dates, if any, under the Note after the Defeasance Date and up to and including the Permitted Prepayment Date, and (ii) in amounts equal to or greater than the Scheduled Defeasance Payments relating to such Monthly Payment Dates and other scheduled payment dates.