Designated PC definition
Designated PC means as of any date, any Participation Certificate which is being sold by NSM to the Issuer pursuant to the PC Repurchase Agreement and pledged by the Issuer hereunder as part of the Trust Estate, which Participation Certificate is listed on the Participation Certificate Schedule in accordance with Section 2.1(b) on such date.
Designated PC. As of any date, any Participation Certificate which is being sold by PLS to the Issuer pursuant to the PC Repurchase Agreement and pledged by the Issuer hereunder as part of the Trust Estate, which Participation Certificate is listed on the Participation Certificate Schedule in accordance with Section 2.1(b) on such date.
Examples of Designated PC in a sentence
Prior to the addition of any Participation Certificates, as provided in this Section 2.1(b), the Administrator must certify to the Indenture Trustee in writing that it has filed all financing statements or amendments to financing statements to ensure that the Indenture Trustee’s Security Interest in any additional Designated PC, and, if applicable, in the related MSRs and Advance Reimbursement Amounts, is perfected and of first priority.