Outstanding Certificate definition

Outstanding Certificate. Each Combinable Certificate; provided, however, that upon the exchange of any Certificate pursuant to Section 2.03 hereof, the Certificate so exchanged shall be deemed no longer to be an Outstanding Certificate and each Certificate issued in exchange therefor shall be deemed to be an Outstanding Certificate. Paying Agent and Registrar: State Street Bank and Trust Company, a Massachusetts banking corporation, until a successor Person shall be appointed by Xxxxxx Xxx.

Outstanding Certificate. Each Combinable Certificate; provided, however, that upon the exchange of any Certificate pursuant to Section 2.03 hereof, the Certificate so exchanged shall be deemed no longer to be an Outstanding Certificate and each Certificate issued in exchange therefor shall be deemed to be an Outstanding Certificate. Paying Agent and Registrar: US Bank, until a successor Person shall be appointed by Xxxxxx Xxx. Person: Any legal person, including any individual, corporation, partnership, joint venture, association, joint stock company, trust, unincorporated organization or government or any agency or political subdivision thereof.

Outstanding Certificate. Any Outstanding Exchangeable Certificate and Outstanding Exchangeable REMIC Certificate.

Examples of Outstanding Certificate in a sentence

• Holder: As to any Outstanding Certificate, the record owner on the books of the Fiscal Agent.

• As to any Certificate that is not an Outstanding Certificate at the time of determination, zero.

• In order to effect any prepayment set forth in Section 6.02(a) hereof, the Indenture Trustee shall give prompt notice by first class mail of prepayment to each Holder of an Outstanding Certificate.

• Solely for the purposes of Section 1.860G-1(a)(4)(iii) of the Treasury regulations, the "latest possible maturity date" by which the Outstanding Certificate Principal Balance of each Class of Certificates representing a regular interest in the REMIC would be reduced to zero is the Distribution Date immediately following the latest scheduled maturity of any Mortgage Loan.

• Correspondingly, Exchangeable Certificates may be further designated for exchange for Certificates of the related Exchangeable Initial Certificates in respective denominations determined based on the proportion that the initial Outstanding Certificate Principal Balances of such Exchangeable Initial Certificates bear to the Original Certificate Principal Balances of the related Exchangeable Certificates, as set forth in Appendix A.

More Definitions of Outstanding Certificate

Outstanding Certificate. Any Outstanding Exchange Certificate and Outstanding Exchangeable Certificate.

Outstanding Certificate. Any Outstanding Exchangeable Certificate or Outstanding Exchangeable REMIC Certificate.

Outstanding Certificate. Any Outstanding Exchange Certificate and Outstanding REMIC Certificate.

Outstanding Certificate. Any Outstanding Exchangeable Certificate and Outstanding Depositable Certificate.

Outstanding Certificate. Any Outstanding Exchangeable Certificate and Outstanding REMIC Certificate.

Outstanding Certificate. Each Combinable Certificate; provided, however, that upon the exchange of any Certificate pursuant to Section 2.03 hereof, the Certificate so exchanged shall be deemed no longer to be an Outstanding Certificate and each Certificate issued in exchange therefor shall be deemed to be an Outstanding Certificate.

Outstanding Certificate. Principal Balance of the Class 1-A Certificates has been reduced to zero; and second to the Class 2-A Certificates on a pro rata basis until the Outstanding Certificate Principal Balance of the Class 2-A Certificates has been reduced to zero or (Y) if the Realized Loss has occurred with respect to a Group Two Mortgage Loan, first to the Class 2-A Certificates on a pro rata basis until the Outstanding Certificate Principal Balance of the Class 2-A Certificates has been reduced to zero, and second to the Class 1-A Certificates on a pro rata basis until the Outstanding Certificate Principal Balance of the Class 1-A Certificates has been reduced to zero; provided, however, that if a Realized Loss occurs with respect to a Discount Mortgage Loan (a) the amount of such Realized Loss equal to the product of (i) the amount of such Realized Loss and (ii) the PO Percentage with respect to such Discount Mortgage Loan will be allocated to Class A-P Component One (if the Realized Loss occurred with respect to a Group One Mortgage Loan), or to Class A-P Component Two (if the Realized Loss occurred with respect to the Group Two Mortgage Loan) and (b) the remainder of such Realized Loss will be allocated as described above; provided however, that any portion of any Realized Loss, other than an Excess Loss, that would otherwise be allocated to the Class 1-A4 or Class 2-A2 Certificates, respectively, in accordance with this paragraph will instead be allocated to the Class 1-A3 or Class 2-A3 Certificates, respectively, until the Outstanding Certificate Principal Balance of the Class 1-A3 or Class 2-A3 Certificates, respectively, has been reduced to zero. The principal portion of any Excess Losses shall be allocated without priority among (i) all Classes of Subordinated Certificates and (ii) the Class A Certificates, pro rata based upon their respective Outstanding Certificate Principal Balances (or, in the case of the Class 1-A7 Certificates, the lesser of their Original Certificate Principal Balance or their Outstanding Certificate Principal Balance); provided , however, that the Class A Certificates related to the Mortgage Group in which the Excess Loss occurs will be allocated the portion of such Excess Losses that would otherwise be allocated to the Class A Certificates not related to such Mortgage Group; and provided, further, however, that the applicable PO Percentage of any Excess Losses on the Discount Mortgage Loans shall be allocated to Class A-P Component One (if t...