Stripped definition

Stripped means a separation (including at issuance) of the ownership of a qualified tax credit bond from the entitlement to the credit with respect to such bond.
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Stripped means, as to a Tax Credit QSCB, that Principal Strips and Tax Credit Strips have been separated from that Tax Credit QSCB as provided in or pursuant to the Bond Registrar Agreement.
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Stripped interest payments on United States Treasury Bonds which have been created pursuant to the Department of Treasury's Separate Trading of Registered Interest and Principal of Securities program.
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Examples of Stripped in a sentence

  • Stripped mortgage-backed securities have greater volatility than other types of mortgage-related securities.

  • Stripped mortgage-backed securities which are purchased at a substantial premium or discount generally are extremely sensitive not only to changes in prevailing interest rates but also to the rate of principal payments (including prepayments) on the related underlying mortgage assets, and a sustained higher or lower than expected rate of principal payments may have a material adverse effect on such securities' yield to duration.

  • These securities are not eligible for stripping and reconstitution, see Table V, "Holdings of Treasury Securities in Stripped Form".

  • Upon such separation, the Normal Units will become Stripped Units.

  • Unless the certificate of authentication hereon has been executed by the Agent by manual signature, this Stripped Units Certificate shall not be entitled to any benefit under the Pledge Agreement or the Purchase Contract Agreement or be valid or obligatory for any purpose.

  • Stripped topsoil is to be piled and reused on the site where needed.

  • Such Contract Adjustment Payments shall be payable to the Person in whose name this Stripped Units Certificate (or a Predecessor Stripped Units Certificate) is registered at the close of business on the Record Date for such Payment Date.

  • Stripped preferred stock is any stock that meets both of the following tests.

  • Stripped mortgage-backed securities which are purchased at a substantial premium or discount generally are extremely sensitive not only to changes in prevailing interest rates but also to the rate of principal payments (including prepayments) on the related underlying mortgage assets, and a sustained higher or lower than expected rate of principal payments may have a material adverse effect on such securities’ yield to duration.

  • Stripped mortgage-backed securities and similar instruments, such as interest- only strips that are not credit-enhancing and principal-only strips.


More Definitions of Stripped

Stripped of any means to lawfully protect themselves.87 The government is “not free to let the state of nature take its course” but instead must provide rea- sonable security to each inmate.88
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Related to Stripped

  • Uncertificated Principal Balance With respect to each REMIC 1 Regular Interest, the principal amount of such REMIC Regular Interest outstanding as of any date of determination. As of the Closing Date, the Uncertificated Principal Balance of each REMIC 1 Regular Interest shall equal the amount set forth in the Preliminary Statement hereto as its initial Uncertificated Principal Balance. On each Distribution Date, the Uncertificated Principal Balance of each such REMIC 1 Regular Interest shall be reduced by all distributions of principal made on such REMIC 1 Regular Interest on such Distribution Date pursuant to Section 4.06 and, if and to the extent necessary and appropriate, shall be further reduced on such Distribution Date by Realized Losses as provided in Section 4.07. The Uncertificated Principal Balance of REMIC 1 Regular Interest LT-ZZ shall be increased by interest deferrals as provided in Section 4.06. The Uncertificated Principal Balance of each REMIC Regular Interest shall never be less than zero.

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class B-4 Certificates The Certificates designated as “Class B-4” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class B Certificates The Class B-1, Class B-2, Class B-3, Class B-4, Class B-5 and Class B-6 Certificates.

  • Class B-3 Certificates All Certificates bearing the class designation of "Class B-3".

  • Class P Certificates All Certificates bearing the class designation of "Class P".

  • Component Principal Balance As of any date of determination, either the PO-1 Component Principal Balance on such date or the PO-2 Component Principal Balance on such date as applicable.

  • Class B-5 Certificates The Certificates designated as “Class B-5” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Class C Certificates Any one of the Class C Certificates executed by the Trustee, and authenticated and delivered by the Certificate Registrar, substantially in the form annexed hereto as Exhibit A-18, representing the right to distributions as set forth herein and therein and evidencing a regular interest in REMIC 4.

  • Class B-3 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-3 and Exhibit C hereto. Class B-3 Certificateholder: The registered holder of a Class B-3 Certificate.

  • Class B-4 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-4 and Exhibit C hereto. Class B-4 Certificateholder: The registered holder of a Class B-4 Certificate.

  • Class B-2 Certificates All Certificates bearing the class designation of "Class B-2".

  • Group 4 Certificates As specified in the Preliminary Statement.

  • 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.

  • Certificate Principal Balance With respect to each Certificate (other than any Interest Only Certificate), on any date of determination, an amount equal to:

  • Principal Balance means the outstanding principal amount of the Loan, plus interest expected to be capitalized (if any), less amounts which may not be insured (such as late charges).