Face-amount certificate definition

Face-amount certificate. ’ means any certificate, in- vestment contract, or other security which represents an obli- gation on the part of its issuer to pay a stated or determinable sum or sums at a fixed or determinable date or dates more than twenty-four months after the date of issuance, in consid- eration of the payment of periodic installments of a stated or determinable amount (which security shall be known as a face- amount certificate of the ‘‘installment type’’); or any security which represents a similar obligation on the part of a face- amount certificate company, the consideration for which is the payment of a single lump sum (which security shall be known as a ‘‘fully paid’’ face-amount certificate).
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Face-amount certificate. ’ means any
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Face-amount certificate of the Installment Type" means any certificate, investment contract, or other Security that represents an obligation on the part of its issuer to pay a stated or determinable sum or sums at a fixed or determinable date or dates more than 24 months after the date of issuance, in consideration of the payment of periodic installments of a stated or determinable amount.
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Examples of Face-amount certificate in a sentence

  • As provided in the Face-Amount Certificate Agreement, this Face-Amount Certificate is secured by the Pledged Collateral.

  • To the extent provided in the Face-Amount Certificate Agreement and the Pledge Agreement, the Certificateholders (and the Funding Agent on their behalf) shall be entitled to the benefits of a security interest in the Pledged Collateral, for the benefit of the Certificateholders.

  • All terms used in this Face-Amount Certificate which are not defined herein shall have the meanings assigned to them in, or incorporated by reference into, the Face-Amount Certificate Agreement.

  • The provisions of the Face-Amount Certificate Agreement are hereby incorporated by reference herein and shall be binding on the Issuer, the Funding Agent and the Certificateholders as if fully set forth herein.

  • In addition, the Portfolio Manager may disclose any such nonpublic information pursuant to any law, rule, regulation, direction, request or order of any judicial, administrative or regulatory authority or proceedings (whether or not having the force or effect of law) and in connection with any publication permitted under Section 14(i) of the Face-Amount Certificate Agreement.

  • Pursuant to the Face-Amount Certificate Agreement, the Purchaser, acting through the Funding Agent, has acquired the Face-Amount Certificate for the benefit of the Certificateholders.

  • The Portfolio Manager shall maintain proper books of account and complete records of all transactions undertaken or performed by it and shall render statements or copies thereof to the Issuer, prepare the tax returns of the Issuer and shall cooperate in all audits of the Issuer (including any audits required by the Funding Agent or the Certificateholders under the Face-Amount Certificate Agreement).

  • This Face-Amount Certificate is issued pursuant to the Face-Amount Certificate Agreement.

  • Each capitalized term used herein and not otherwise defined herein shall have the meaning given to such term in Annex X to that certain Face-Amount Certificate Agreement, dated as of September 15, 1998 (the "FACE-AMOUNT CERTIFICATE AGREEMENT", by and between the Issuer, the Funding Agent and Park Avenue Receivables Corporation, as the same may from time to time be amended, supplemented or otherwise modified and in effect, which Annex X is hereby incorporated by reference herein.

  • Reference is hereby made to the Face-Amount Certificate Agreement for a statement of the respective rights, limitations of rights, duties and immunities thereunder of the Issuer, the Funding Agent and the Certificateholders and the terms upon which this Face-Amount Certificate is delivered.


More Definitions of Face-amount certificate

Face-amount certificate means any certificate, investment contract, or other security which represents an obligation on the part of its issuer to pay a stated or determinable sum or sums at a fixed or determinable date or dates more than 24 months after the date of issuance, in consideration of the payment of periodic installments of a stated or determinable amount (which security shall be known as a face-amount certificate of the “installment type”); or any security which represents a similar obligation on the part of a face-amount certificate company, the consideration for which is the payment of a single lump sum (which security shall be known as a “fully-paid” face amount certificate).
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Face-amount certificate. ’ means any certificate, investment contract, or other se- curity which represents an obligation on the part of its issuer to pay a stated or determina- ble sum or sums at a fixed or determinable date or dates more than twenty-four months after the date of issuance, in consideration of the payment of periodic installments of a stat-
Sample 1
Face-amount certificate means any certificate, investment contract, or other
Sample 1
Face-amount certificate of the Installment Type" means any certificate, investment contract, or other Security that represents an obligation on the part of its issuer to pay a stated or determinable sum or sums at a fixed or determinable date or dates more than 24 months after the date of issuance, in consideration of the payment of periodic installments of a stated or determinable amount; "Government Securities" means all Securities issued or guaranteed as to principal or interest by the United States, or by a person controlled or supervised by and acting as an instrumentality of the government of the United States pursuant to authority granted by the Congress of the United States; or any certificate of deposit for any of the foregoing; "Investment Securities" includes all Securities except (A) Government Securities, (B) Securities issued by employees' securities companies, and (C) Securities issued by Majority-Owned Subsidiaries of any Opinion Party which are not engaged and do not propose to be engaged in activities within the scope of clause (b), (c) or (d) of paragraph 3 of this Certificate; "Majority-Owned Subsidiary" of a person means a company 50% or more of the outstanding Voting Securities of which are owned by such person, or by a company which, within the meaning of this paragraph, is a Majority-Owned Subsidiary of such person. Notwithstanding the foregoing, a company shall not be considered a Majority-Owned Subsidiary of a person if Control of such company rests with someone other than such person;
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Related to Face-amount certificate

  • Notional Amount Certificates As specified in the Preliminary Statement.

  • Final Payment Certificate means the payment certificate issued under Sub-Clause 14.13 [Issue of Final Payment Certificate].

  • Payment Certificate means a payment certificate issued under Clause 14 [Contract Price and Payment].

  • Credit certificate means a certificate issued by the allocating agency to a taxpayer that specifies the amount of affordable housing tax credits that can be applied against the taxpayer’s individual or corporate income tax, or franchise, captive insurance premium, or insurance premium tax liability as provided in this subchapter.

  • Certificate Notional Amount With respect to any Interest Only Certificate, as of any date of determination, the then notional principal amount on which such Certificate accrues interest, equal to the product of (a) the then Certificate Factor for the Class of Interest Only Certificates to which such Certificate belongs, multiplied by (b) the amount specified on the face of such Certificate as the initial Certificate Notional Amount thereof.

  • Coupon Note means a Note on which no interest is payable.

  • Class ___ Certificate Any one of the Certificates executed and authenticated by the Trustee or Authenticating Agent on behalf of the Depositor in substantially the form set forth in Exhibit hereto.

  • Global Preferred Security means a Preferred Securities Certificate evidencing ownership of Book-Entry Preferred Securities.

  • Note Certificate means a certificate issued to each Registered Holder in respect of its registered holding of Notes;

  • Gift certificate means a merchandise certificate conspicuously designated as a gift certificate, and purchased by a buyer for use by a person other than the buyer.

  • Interim Payment Certificate means a payment certificate issued under Clause 14 [Contract Price and Payment], other than the Final Payment Certificate.

  • Preferred Security Certificate means a certificate representing a Preferred Security substantially in the form of Exhibit A-1.

  • Certificate Principal Amount With respect to any Certificate (other than an Interest-Only Certificate), at the time of determination, the maximum specified dollar amount of principal to which the Holder thereof is then entitled hereunder, such amount being equal to the initial principal amount set forth on the face of such Certificate, less (i) the amount of all principal distributions previously made with respect to such Certificate; (ii) all Realized Losses allocated to such Certificate; provided, however, that on any Distribution Date on which a Subsequent Recovery is distributed, the Certificate Principal Amount of any Class of Certificates then outstanding to which a Realized Loss amount has been applied will be increased, in order of seniority, by an amount equal to the aggregate amount of any Subsequent Recovery distributed on such date to Holders of the Certificates, after application (for this purpose) to more senior Classes of Certificates pursuant to this Agreement and (iii) in the case of a Subordinate Certificate, any Subordinate Certificate Writedown Amount allocated to such Certificates. For purposes of Article V hereof, unless specifically provided to the contrary, Certificate Principal Amounts shall be determined as of the close of business of the immediately preceding Distribution Date, after giving effect to all distributions made on such date. Interest-Only Certificates are issued without Certificate Principal Amounts.

  • Coupon Amount means (i) in respect of a Coupon Payment, the amount of interest payable on a Security for the relevant Coupon Period in accordance with Condition 5 and (ii) for the purposes of Conditions 8(c) and 8(d), any interest accrued from (and including) the preceding Coupon Payment Date (or, if none, the Issue Date) to (but excluding) the due date for redemption if not a Coupon Payment Date as provided for in Condition 5(b);

  • Fixed Rate Certificate A Certificate that provides for a payment of interest at a Fixed Pass-Through Rate.

  • Book-Entry Preferred Security means a Preferred Security, the ownership and transfers of which shall be made through book entries by a Depositary.

  • Component Certificates As specified in the Preliminary Statement.

  • Original Class Certificate Principal Balance With respect to the Class A Certificates, the Mezzanine Certificates, the Class C Certificates and the Class P Certificates, the corresponding amounts set forth opposite such Class above in the Preliminary Statement.

  • Capital Security Certificate means a definitive Certificate in fully registered form representing a Capital Security substantially in the form of Exhibit A-1.

  • Class B-6 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-6 and Exhibit C hereto. Class B-6 Certificateholder: The registered holder of a Class B-6 Certificate.

  • REMIC Certificate Maturity Date The "latest possible maturity date" of the Regular Certificates as that term is defined in Section 2.07.