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).

  • 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.

  • Any such adjustment will 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 Xxxxxxx Mac and (ii) interest at the applicable PC Coupon computed on the remaining PC Pool balance derived from the Pool 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.

  • Freddie 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.

  • Any such adjustment will equal the diÅerence 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 Xxxxxxx Mac and (ii) interest at the applicable PC Coupon computed on the remaining PC Pool balance derived from the Pool Factor.

  • With respect to each PC Pool, the Administrator 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.

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.

  • 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.

  • 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.

  • 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;

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

  • AHYDO Catch-Up Payment means any payment with respect to any obligations of the Borrower or any Restricted Subsidiary, including subordinated debt obligations, in each case to the extent such payment is necessary to avoid the application of Section 163(e)(5) of the Tax 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 10th day of February, May, August and November of each year or, if such day is not a Business Day, the immediately following Business Day, provided that the fist Guarantor Payment Date will be 10 February 2014; 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.

  • Day Count Fraction means, in respect of the calculation of an amount of interest on any Note for any period of time (from and including the first day of such period to but excluding the last) (whether or not constituting an Interest Period or an Interest Accrual Period, the “Calculation Period”):