PC Coupon definition

PC Coupon. The per annum fixed or adjustable rate of a PC calculated as described in the Offering Circular or the applicable Pool Supplement, computed on the basis of a 360-day year of twelve 30-day months.
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PC Coupon. The per annum Ñxed or adjustable interest rate of a PC set forth, or determined as set forth, in the applicable Supplement, computed on the basis of a 360-day year of twelve 30-day months, unless otherwise provided in the Supplement. PC Pool: A discrete pool of Mortgages formed by Xxxxxxx Mac.
Sample 1

Examples of PC Coupon in a sentence

  • With respect to each PC Pool, the Holder of a PC on the Record Date shall be the owner of record of a pro rata undivided beneficial ownership interest in the remaining principal balance of the Mortgages in the related PC Pool as of such date and shall be entitled to interest at the PC Coupon on such pro rata undivided beneficial ownership interest, in each case on the related Payment Date.

  • Any such adjustment shall equal the difference between (i) interest at the applicable PC Coupon computed on the aggregate unpaid principal balance of the Mortgages for such month based on monthly principal payments actually received by the Administrator and (ii) interest at the applicable PC Coupon computed on the remaining balance of the Mortgages included in the PC Pool derived from the Pool Factor.

  • With respect to each PC Pool, the Administrator, on behalf of the Trustee, shall withdraw from the Custodial Account and shall distribute to each related Holder its pro rata share of interest collections with respect to the Mortgages included in such PC Pool, at a rate equal to the PC Coupon (excluding, if applicable, each Holder’s pro rata share of any Deferred Interest that has been added to the principal balance of the related Mortgages).

  • For ARM PCs only, the weighted average of the number of months from PC Pool formation to the next date on which the PC Coupon adjusts.

  • For example, the 5.0% PC Coupon category includes ARM PCs with coupons between 4.75% and 5.24%.

  • With respect to each PC Pool, the Administrator, on behalf of the Trustee, shall withdraw from the Custodial Account and shall distribute to each related Holder its pro rata share of interest collections with respect to the Mortgages included in such PC Pool, at a rate equal to the PC Coupon.

  • The Holder of a PC on the Record Date will be the owner of record of a pro rata undivided beneficial ownership interest in the remaining principal balance of the related PC Pool as of such date and will be entitled to interest at the PC Coupon on such pro rata undivided beneficial ownership interest, in each case on the related Payment Date.

  • For any given month, the interest payment to a Holder (assuming no Deferred Interest) will be 1/12th of the applicable PC Coupon multiplied by the principal balance of the Holder's PC, determined by multiplying the original principal balance of the Holder's PC by the preceding month's Pool Factor for a Gold PC or by the second preceding month's Pool Factor for a non-Gold PC.

  • For a given month, an interest payment on such a PC will be (i) 1/12th of the PC Coupon multiplied by (ii) the original principal balance of the Holder's PC multiplied by (iii) the second preceding month's Pool Factor minus the preceding month's Negative Amortization Factor.

  • Xxxxxxx Mac will pass through to each Holder its pro rata share of the interest paid by borrowers with respect to each Mortgage at a rate equal to the PC Coupon (excluding, if applicable, each Holder's pro rata share of any Deferred Interest that has been added to the principal balance of the related Mortgages).Interest will accrue during the applicable Accrual Periods.

Related to PC Coupon

  • Zero Coupon Note means a Note specified as such in the relevant Final Terms.

  • Coupon means any interest coupon appertaining to a Bearer Security.

  • Zero Coupon Bond Any debt security that by its terms (a) does not bear interest for all or part of the remaining period that it is outstanding, (b) provides for periodic payments of interest in Cash less frequently than semi-annually or (c) pays interest only at its stated maturity.

  • Class Coupon The Class Coupon on each Class of Notes for any Accrual Period will be as set forth in Appendix I for Original Notes and Appendix II for MAC Notes.

  • Class Coupon Formula The formula specified for each Class of variable rate Notes, as set forth in Appendix I for Original Notes and Appendix II for MAC Notes.

  • Fixed Coupon Amount means the amount specified as such in the relevant Final Terms.

  • zero-coupon obligation means a debt security that does not expressly provide for the accrual of interest, and includes the former component parts of a debt security that did expressly provide for the accrual of interest if that component part does not itself expressly provide for the accrual of interest.

  • Index Linked Note means an Index Linked Interest Note and/or an Index Linked Redemption Note.

  • Coupon Payment Date means each day specified to be an Coupon Payment Date in the Product Terms.

  • Passenger Coupon or means that portion of the Ticket issued by us or on “Passenger Receipt” our behalf, which is so marked and is to be retained by you.

  • Coupon Rate has the meaning set forth in Section 2.8.

  • Flight Coupon means that portion of the ticket which is either held electronically in the carrier’s database or on paper when a paper ticket is issued to a passenger. It indicates the particular points between which the passenger is entitled to transportation.

  • Coupon Barrier Value means, in respect of a ST Coupon Valuation Date, Worst Value.

  • Payment Day means a day (other than a Saturday or Sunday) on which commercial banks and foreign exchange markets are open for business (including dealings in foreign exchange and foreign exchange currency deposits) in the principal financial centre for the Settlement Currency or if the Settlement Currency is euro, any day on which the Trans-European Automated Real-time Gross settlement Express Transfer (TARGET) System is open;

  • Weighted Average Coupon means, with respect to Fixed Rate Obligations (excluding Defaulted Loans), as of any date, the number obtained by:

  • Floating Rate Note means any Class A-2b Note.

  • Original Issue Discount Debt Security means any Debt Security which provides for an amount less than the principal amount thereof to be due and payable upon a declaration of acceleration of the maturity thereof pursuant to Section 6.01.

  • Interest Basis has the meaning given to it in the applicable Final Terms;

  • Eurobond Basis has the meaning given in Condition 5.10 (Definitions);

  • AHYDO Catch-Up Payment means any payment on any Indebtedness that would be necessary to avoid such Indebtedness being characterized as an “applicable high yield discount obligation” under Section 163(i) of the Code.

  • 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);

  • Guarantor Payment Date means (a) prior to the delivery of a Guarantor Default Notice, the date falling on the 18th day of each month or, if such day is not a Business Day, the immediately following Business Day; and (b) following the delivery of a Guarantor Default Notice, any day on which any payment is required to be made by the Representative of the Covered Bondholders in accordance with the Post-Enforcement Priority of Payments, the relevant Final Terms and the Intercreditor Agreement;

  • Coupon Security means any Bearer Security authenticated and delivered with one or more Coupons appertaining thereto.

  • Fixed Day Count Fraction means, in respect of the calculation of an amount of interest in accordance with this Condition 4(a):

  • Day Count Fraction means, in respect of the calculation of an amount of interest in accordance with this Condition 4(a):

  • Coupon Period means the period commencing on (and including) the Issue Date and ending on (but excluding) the first Coupon Payment Date and each successive period commencing on (and including) a Coupon Payment Date and ending on (but excluding) the next succeeding Coupon Payment Date;