Examples of Security Principal Balance in a sentence
Any distribution to the Holder of this Security in reduction of the Security Principal Balance hereof is binding on such Holder and all future Holders of this Security and any Security issued upon the transfer hereof or in exchange therefor or in lieu hereof whether or not notation of such distribution is made upon this Security.
This Security shall accrue interest during each Interest Accrual Period on the Security Principal Balance of such Security at a rate per annum equal to the related Pass-Through Rate.
Any reduction of the Class Principal Balance of a Class of Securities will be allocated among the Subclasses of such Class on a pro rata basis, based on the Subclass Principal Balance of each such Subclass, and among each Security of such Subclass on a pro rata basis, based on the Security Principal Balance of each such Security.
Such assignment includes all of the Company's rights to Monthly Payments on the Mortgage Assets due after the Cut-off Date, and all other payments of principal (and interest) made on or after the Cut-off Date that are reflected in the initial aggregate Security Principal Balance of the Securities for a Trust.
On the Closing Date, the aggregate Security Principal Balance of the Securities will equal the aggregate Scheduled Principal Balance of the Mortgage Assets as of the Cut-off Date.