SBA Pool Certificates definition

SBA Pool Certificates means SBA Collateral backed by loans made pursuant to Section 7(a) of the Small Business Act. Stated Maturity Date, with respect to any Loan, means the third anniversary of the Applicable Loan Closing Date; provided that, solely in the case of a Loan secured by SBA Collateral, Student Loan Collateral or CMBS Collateral, if the applicable Loan Request indicates that the loan term of such Loan shall be 5 years, the Stated Maturity Date of such Loan shall be the fifth anniversary of the Applicable Loan Closing Date.

SBA Pool Certificates means SBA Collateral backed by loans made pursuant to Section 7(a) of the Small Business Act. Surrendered Collateral has the meaning specified in Section 13.1.

SBA Pool Certificates means SBA Collateral backed by loans made pursuant to Section 7(a) of the Small Business Act. Scheduled Interest Deficiency, for any Loan Accrual Period, means the amount as determined by Administrator equal to (i) with respect to any Loan other than a Floating Rate 30-Day Average SOFR Loan, the excess, if any, of (x) the Monthly Loan Interest Expense Amount over (y) the interest that accrued on each Item of Collateral securing such Loan during such Loan Accrual Period (based on the stated terms of each such Item of Collateral as of the date such Collateral was pledged hereunder) at the scheduled rate applicable thereto (whether or not paid) or (ii) with respect to any Loan that is a Floating Rate 30-Day Average SOFR Loan, the excess, if any, of (x) the Quarterly Loan Interest Expense Amount over (y) the interest that accrued on each Item of Collateral securing such Loan during such Loan Accrual Period (based on the stated terms of each such Item of Collateral as of the date such Collateral was pledged hereunder) at the scheduled rate applicable thereto (whether or not paid).

Examples of SBA Pool Certificates in a sentence

• Final deadline for TALF agent to deliver available preliminary offering materials to TALF lender and New York Fed to the extent not previously delivered.• Solely for SBA Pool Certificates.

• TALF agent delivers SBA collateral undertaking20 to TALF lender and New York Fed.Third business day before loan settlement date, by 12:00 p.m.• Not required for SBA Pool Certificates.

• TALF agent delivers to TALF lender and TALF custodian a revised loan request reflecting any reduction in the requested amount to reflect any reductions in the amount of New Acquisition Collateral19 expected to be delivered on the loan settlement date as a result of actual allocations by the underwriters of the ABS.Fourth business day before loan settlement date, by 5:00 p.m.• Not required for SBA Pool Certificates.

• For SBA Pool Certificates (7(a) loans), the interest rate will be the top of the federal funds target range plus 75 basis points.

• DeadlineRequirementOn loan subscription date, by time specified by the New York Fed on the TALF website• TALF agent submits loan request to TALF lender.• Not required for SBA Pool Certificates.

• DeadlineRequirement • Not required for Development Company Participation Certificates,11 SBA Pool Certificates, or CMBS.

• What documentation is required for SBA Pool Certificates and Development Company Participation Certificates?With respect to SBA Pool Certificates, no issuer certification, indemnity or offering document is required.

• Prospectuses/offering documents are not required for SBA Pool Certificates.

• Each TALF loan had an original maturity of three years, except loans secured by Small Business Administration (SBA) Pool Certificates, loans secured by SBA Development Company Participation Certificates, or ABS backed by student loans or commercial mortgage loans, which had an original maturity of five years if the borrower so elected.

• DeadlineRequirement contain the security’s weighted average life or include a supplement disclosing the security’s weighted average life.After loan subscription date• Not required for SBA Pool Certificates.