Interest Only Security definition
Interest Only Security means any obligation or security that does not provide in the related Underlying Instruments for the payment or repayment of a stated principal amount in one or more installments on or prior to its Stated Maturity.
Interest Only Security means any security that by its terms provides for periodic payments of interest and does not provide for the repayment of a stated principal amount.
Interest Only Security. Any security that by its terms provides for periodic payments of interest on a notional amount and does not provide for the repayment of a principal amount.
More Definitions of Interest Only Security
Interest Only Security means any interest, including servicing fees, retained by a Conseco Finance Entity relating to the sale or securitization of loans, leases, receivables or installment contracts, which constitutes either an interest only security or a servicing right asset in accordance with GAAP.
Interest Only Security means any Asset-Backed Security that does not provide for the repayment of a stated fixed amount of principal in one or more installments.
Interest Only Security means any asset that by its terms provides for periodic payments of interest on a notional amount and does not provide for the repayment of a principal amount.
Interest Only Security means a security that is structured to provide for the payment of interest but no principal.
Interest Only Security means any interest, including servicing fees, retained by Conseco Finance relating to the sale or securitization of loans, leases, receivables or installment contracts, which constitutes either an interest only security or a servicing right asset in accordance with GAAP.
Interest Only Security means any obligation or security that does not provide in the related Underlying Instruments for the payment or repayment of a stated principal amount in one or more installments on or prior to its Stated Maturity. “Interest Period” means, with respect to each Credit Extension: (a) the period f rom (and including) the related Credit Date to but excluding the immediately following Payment Date, and (b) each successive period from and including each Payment Date to but excluding the immediately following Payment Date until the Obligations (other than contingent obligations for which no claim has been asserted) are repaid in full. “Interest Priority of Payments” is def ined in Section 7(a). “Interest Proceeds” means, with respect to any Payment Date, without duplication: (a) all payments of interest and dividends, commitment fees and facility fees received during the related Due Period on the Pledged Obligations (including any Reinvestment Income) and any compensation on account of delayed settlement of any Pledged Obligation, other than (x) any payment of interest received on any Defaulted Obligation if the outstanding principal amount thereof then due and payable has not been received by the Borrower Entities af ter giving effect to the receipt of such payments of interest and (y) the amounts as specif ied in clause (f ) of the def inition of Principal Proceeds; (b) to the extent not included in the definition of “Sale Proceeds”, if so designated by the Collateral Manager and notice thereof is conveyed in writing to the Collateral Agent, the Administrative Agent and the Collateral Administrator, any portion of the accrued interest received during the related Due Period in connection with the sale of any Pledged Obligations (excluding accrued interest received in connection with the sale of (x) Defaulted Obligations if the outstanding principal amount thereof has not been received by the Borrower after giving effect to such sale or (y) an asset that was Acquired with Principal Proceeds); (c) unless otherwise designated by the Collateral Manager as Principal Proceeds and notice thereof is conveyed in writing to the Collateral Agent, the Administrative Agent and the Collateral Administrator, all amendment and waiver fees, all late payment fees and all other fees 34 received during such Due Period in connection with the Pledged Obligations, excluding (A) fees received in connection with Defaulted Obligations (but only to the extent that the outstanding principa...
Interest Only Security means any Underlying Asset that (i) does not provide for payments of principal or the repayment of a stated principal amount or (ii) provides for payment of a de minimis principal amount relative to the interest rate thereon.