Common use of Notional Amount Clause in Contracts

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] Regular Interest, Class [B] Regular Interest and Class [C] Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________], $[________] and $[________], respectively. The Exchangeable Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount of the Class [A-S] Regular Interest, Class [B] Regular Interest and/or Class [C] Regular Interest. Following any exchange of Class [A-S] Certificates, Class [B] Certificates and Class [C] Certificates for Class [EC] Certificates or any exchange of Class [EC] Certificates for Class [A-S] Certificates, Class [B] Certificates and Class [C] Certificates, the percentage interest of the Certificate Principal Amounts of the Class [A-S] Regular Interest, Class [B] Regular Interest and Class [C] Regular Interest that is represented by the Class [A-S] Certificates, Class [B] Certificates, Class [EC] Certificates and Class [C] Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount of each Class of the Class [A-S] Certificates, Class [B] Certificates and Class [C] Certificates shown in the table above represents the maximum Certificate Principal Amount of such Class without giving effect to any issuance of Class [EC] Certificates. The initial Certificate Principal Amount of the Class [EC] Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts of the Class [A-S] Certificates, Class [B] Certificates and Class [C] Certificates, representing the maximum Certificate Principal Amount of the Class [EC] Certificates that could be issued in an exchange. The actual Certificate Principal Amount of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount of that Class and may be zero. The Certificate Principal Amounts of the Class [A-S] Certificates, Class [B] Certificates and Class [C] Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount of the Class [EC] Certificates issued on the Closing Date. The aggregate Certificate Principal Amount of the Certificates shown on the table above includes the maximum Certificate Principal Amount of Exchangeable Certificates that could be outstanding on the Closing Date, equal to $[________] (subject to a variance of plus or minus 5%).

Appears in 3 contracts

Samples: Underwriting Agreement (BMO Commercial Mortgage Securities LLC), Underwriting Agreement (Citigroup Commercial Mortgage Securities Inc), Underwriting Agreement (Citigroup Commercial Mortgage Securities Inc)

AutoNDA by SimpleDocs

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]39,947,000, $[________] 33,868,000 and $[________]32,999,000, respectively. The Exchangeable Certificates and the Class EC Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] EC Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount Balance of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] EC Certificates or any exchange of Class [EC] EC Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts Balances of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] EC Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount Balance of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount Balance of such Class without giving effect to any issuance of Class [EC] EC Certificates. The initial Certificate Principal Amount Balance of the Class [EC] EC Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount Balance of the Class [EC] EC Certificates that could be issued in an exchange. The actual Certificate Principal Amount Balance of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount Balance of that Class and may be zero. The Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount Balance of the Class [EC] EC Certificates issued on the Closing Date. The aggregate Certificate Principal Amount Balance of the Certificates shown on the table above includes the maximum Certificate Principal Amount Balance of Exchangeable Certificates and Class EC Certificates that could be outstanding on the Closing Date, equal to $[________] 106,814,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2016-Gc37)

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]52,017,000, $[________] 75,136,000 and $[________]54,907,000, respectively. The Exchangeable Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] EC Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount Balance of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] EC Certificates or any exchange of Class [EC] EC Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts Balances of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] EC Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount Balance of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount Balance of such Class without giving effect to any issuance of Class [EC] EC Certificates. The initial Certificate Principal Amount Balance of the Class [EC] EC Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount Balance of the Class [EC] EC Certificates that could be issued in an exchange. The actual Certificate Principal Amount Balance of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount Balance of that Class and may be zero. The Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount Balance of the Class [EC] EC Certificates issued on the Closing Date. The aggregate Certificate Principal Amount Balance of the Certificates shown on the table above includes the maximum Certificate Principal Amount Balance of Exchangeable Certificates that could be outstanding on the Closing Date, equal to $[________] 182,060,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2016-Gc36)

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]40,476,000, $[________] 42,404,000 and $[________]38,548,000, respectively. The Exchangeable Certificates and the Class EC Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] EC Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount Balance of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] EC Certificates or any exchange of Class [EC] EC Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts Balances of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] EC Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount Balance of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount Balance of such Class without giving effect to any issuance of Class [EC] EC Certificates. The initial Certificate Principal Amount Balance of the Class [EC] EC Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount Balance of the Class [EC] EC Certificates that could be issued in an exchange. The actual Certificate Principal Amount Balance of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount Balance of that Class and may be zero. The Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount Balance of the Class [EC] EC Certificates issued on the Closing Date. The aggregate Certificate Principal Amount Balance of the Certificates shown on the table above includes the maximum Certificate Principal Amount Balance of Exchangeable Certificates and Class EC Certificates that could be outstanding on the Closing Date, equal to $[________] 121,428,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2016-P3)

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]58,763,000, $[________] 42,871,000 and $[________]33,852,000, respectively. The Exchangeable Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] PEZ Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] PEZ Certificates or any exchange of Class [EC] PEZ Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] PEZ Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount of such Class without giving effect to any issuance of Class [EC] PEZ Certificates. The initial Certificate Principal Amount of the Class [EC] PEZ Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount of the Class [EC] PEZ Certificates that could be issued in an exchange. The actual Certificate Principal Amount of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount of that Class and may be zero. The Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount of the Class [EC] PEZ Certificates issued on the Closing Date. The aggregate Certificate Principal Amount of the Certificates shown on the table above includes the maximum Certificate Principal Amount of Exchangeable Certificates that could be outstanding on the Closing Date, equal to $[________] 135,486,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2015-Gc31)

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]71,226,000, $[________] 58,898,000 and $[________]52,049,000, respectively. The Exchangeable Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] PEZ Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] PEZ Certificates or any exchange of Class [EC] PEZ Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] PEZ Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount of such Class without giving effect to any issuance of Class [EC] PEZ Certificates. The initial Certificate Principal Amount of the Class [EC] PEZ Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount of the Class [EC] PEZ Certificates that could be issued in an exchange. The actual Certificate Principal Amount of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount of that Class and may be zero. The Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount of the Class [EC] PEZ Certificates issued on the Closing Date. The aggregate Certificate Principal Amount of the Certificates shown on the table above includes the maximum Certificate Principal Amount of Exchangeable Certificates that could be outstanding on the Closing Date, equal to $[________] 182,173,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2015-P1)

AutoNDA by SimpleDocs

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]38,730,000, $[________] 35,896,000 and $[________]34,951,000, respectively. The Exchangeable Certificates and the Class EC Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] EC Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount Balance of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] EC Certificates or any exchange of Class [EC] EC Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts Balances of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] EC Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount Balance of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount Balance of such Class without giving effect to any issuance of Class [EC] EC Certificates. The initial Certificate Principal Amount Balance of the Class [EC] EC Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount Balance of the Class [EC] EC Certificates that could be issued in an exchange. The actual Certificate Principal Amount Balance of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount Balance of that Class and may be zero. The Certificate Principal Amounts Balances of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount Balance of the Class [EC] EC Certificates issued on the Closing Date. The aggregate Certificate Principal Amount Balance of the Certificates shown on the table above includes the maximum Certificate Principal Amount Balance of Exchangeable Certificates and Class EC Certificates that could be outstanding on the Closing Date, equal to $[________] 109,577,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2016-C1)

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]47,924,000, $[________] 62,302,000 and $[________]41,934,000, respectively. The Exchangeable Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] PEZ Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] PEZ Certificates or any exchange of Class [EC] PEZ Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] PEZ Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount of such Class without giving effect to any issuance of Class [EC] PEZ Certificates. The initial Certificate Principal Amount of the Class [EC] PEZ Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount of the Class [EC] PEZ Certificates that could be issued in an exchange. The actual Certificate Principal Amount of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount of that Class and may be zero. The Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount of the Class [EC] PEZ Certificates issued on the Closing Date. The aggregate Certificate Principal Amount of the Certificates shown on the table above includes the maximum Certificate Principal Amount of Exchangeable Certificates that could be outstanding on the Closing Date, equal to $[________] 152,160,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2015-Gc33)

Notional Amount. (2) On the Closing Date, the issuing entity will issue the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest, which will have initial outstanding principal balances, subject to a variance of plus or minus 5%, of $[________]64,929,000, $[________] 59,403,000 and $[________]59,403,000, respectively. The Exchangeable Certificates will, at all times, represent undivided beneficial ownership interests in a grantor trust that will hold such Class [EC] PEZ Regular Interests. Each Class of the Exchangeable Certificates will, at all times, represent a beneficial interest in a percentage of the Certificate Principal Amount of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and/or Class [C] C Regular Interest. Following any exchange of Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates for Class [EC] PEZ Certificates or any exchange of Class [EC] PEZ Certificates for Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, the percentage interest of the Certificate Principal Amounts of the Class [A-S] S Regular Interest, Class [B] B Regular Interest and Class [C] C Regular Interest that is represented by the Class [A-S] S Certificates, Class [B] B Certificates, Class [EC] PEZ Certificates and Class [C] C Certificates will be increased or decreased accordingly. The initial Certificate Principal Amount of each Class of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates shown in the table above represents the maximum Certificate Principal Amount of such Class without giving effect to any issuance of Class [EC] PEZ Certificates. The initial Certificate Principal Amount of the Class [EC] PEZ Certificates shown in the table above is equal to the aggregate of the maximum initial Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates, representing the maximum Certificate Principal Amount of the Class [EC] PEZ Certificates that could be issued in an exchange. The actual Certificate Principal Amount of any Class of Exchangeable Certificates issued on the Closing Date may be less than the maximum Certificate Principal Amount of that Class and may be zero. The Certificate Principal Amounts of the Class [A-S] S Certificates, Class [B] B Certificates and Class [C] C Certificates to be issued on the Closing Date will be reduced, in required proportions, by an amount equal to the Certificate Principal Amount of the Class [EC] PEZ Certificates issued on the Closing Date. The aggregate Certificate Principal Amount of the Certificates shown on the table above includes the maximum Certificate Principal Amount of Exchangeable Certificates that could be outstanding on the Closing Date, equal to $[________] 183,735,000 (subject to a variance of plus or minus 5%).

Appears in 1 contract

Samples: Underwriting Agreement (Citigroup Commercial Mortgage Trust 2015-Gc35)

Time is Money Join Law Insider Premium to draft better contracts faster.