Certificate Rate Sample Clauses

Certificate Rate. With respect to the Class A-2 Certificates, on the second LIBOR Business Day immediately preceding each Distribution Date (referred to in this sentence as the “current Distribution Date”) the Trustee shall determine LIBOR and the Class A-2 Certificate Rate for such Class and the Distribution Date next succeeding such current Distribution Date and inform the Servicer (at the facsimile number given to the Trustee in writing) of such rate.
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Certificate Rate. As to each Class of Senior Certificates, the per annum rate set forth as follows: Class IA-1: 6.50%, Class IA-2: 6.84%, Class IA-3: 7.23%, Class IIA: 6.98%, Class IS: 0.45% and Class IIS: 0.50%; provided, however, with respect to any Distribution Date after the first Distribution Date and each Class of Group IA Certificates, if the Maximum Rate for such Distribution Date is less than the rate designated to such Class in the immediately preceding clause, the Certificate Rate for such Distribution Date shall be the Maximum Rate. Certificate Register and Certificate Registrar. The register established, and the registrar appointed, pursuant to Section 5.02.
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Certificate Rate. The per annum rate of interest borne by each Class of Certificates (other than the Class A-P Certificates), which (i) in the case of the Class 1-A1, Class 1-A2, Class 1-A3, Class 1-AX and Class A-R Certificates will be 6.00% and, (ii) in the case of the Class 2-A1, Class 2-A2, Class 2-A3 and Class 2-AX Certificates will be 5.50%. With respect to each Class of Subordinated Certificates, the per annum rate of interest will equal the fraction, expressed as a percentage, (I) the numerator of which will equal the sum of (i) the product of (x) 6.00% and (y) the Group One Subordinated Amount, and (ii) the product of (x) 5.50% and (y) the Group Two Subordinated Amount and (II) the denominator of which will equal the sum of the Group One Subordinated Amount and the Group Two Subordinated Amount. For federal income tax purposes, the Certificate Rate on each Class of Subordinate Certificates can be expressed as a per annum rate equal to the weighted average of the interest rates on the Lower-Tier REMIC Regular Interests ending with the designation “A” weighted on the basis of their principal amounts immediately prior to such Distribution Date. Interest with respect to each Class of Certificates (other than the Class A-P Certificates) shall be calculated based on a 360 day year comprised of twelve 30-day months.
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Certificate Rate. SECTION 2.2.1. DETERMINING THE INTEREST RATE. BY PURCHASING AUCTION RATE CERTIFICATES, WHETHER IN AN AUCTION OR OTHERWISE, EACH PURCHASER OF THE AUCTION RATE CERTIFICATES, OR ITS BROKER-DEALER, MUST AGREE AND SHALL BE DEEMED BY SUCH PURCHASE TO HAVE AGREED (I) TO PARTICIPATE IN AUCTIONS ON THE TERMS DESCRIBED HEREIN, (II) TO HAVE ITS BENEFICIAL OWNERSHIP OF THE AUCTION RATE CERTIFICATES MAINTAINED AT ALL TIMES IN BOOK-ENTRY FORM FOR THE ACCOUNT OF ITS PARTICIPANT, WHICH IN TURN WILL MAINTAIN RECORDS OF SUCH BENEFICIAL OWNERSHIP AND (III) TO AUTHORIZE SUCH PARTICIPANT TO DISCLOSE TO THE AUCTION AGENT SUCH INFORMATION WITH RESPECT TO SUCH BENEFICIAL OWNERSHIP AS THE AUCTION AGENT MAY REQUEST. SO LONG AS THE OWNERSHIP OF AUCTION RATE CERTIFICATES IS MAINTAINED IN BOOK-ENTRY FORM, AN EXISTING CERTIFICATEHOLDER MAY SELL, TRANSFER OR OTHERWISE DISPOSE OF AUCTION RATE CERTIFICATES ONLY PURSUANT TO A BID OR SELL ORDER PLACED IN AN AUCTION OR OTHERWISE SELL, TRANSFER OR DISPOSE OF AUCTION RATE CERTIFICATES THROUGH A BROKER-DEALER, PROVIDED THAT, IN THE CASE OF ALL TRANSFERS OTHER THAN PURSUANT TO AUCTIONS, SUCH EXISTING CERTIFICATEHOLDER, ITS BROKER-DEALER OR ITS PARTICIPANT ADVISES THE AUCTION AGENT OF SUCH TRANSFER. AUCTIONS SHALL BE CONDUCTED ON EACH AUCTION DATE, IF THERE IS AN AUCTION AGENT ON SUCH AUCTION DATE, IN THE FOLLOWING MANNER: (A) (I) PRIOR TO THE SUBMISSION DEADLINE ON EACH AUCTION DATE RELATING TO A CLASS OF AUCTION RATE NOTES: (A) EACH EXISTING CERTIFICATEHOLDER OF THE APPLICABLE CLASS OF AUCTION RATE NOTES MAY SUBMIT TO A BROKER-DEALER BY TELEPHONE OR OTHERWISE ANY INFORMATION AS TO: (1) THE PRINCIPAL AMOUNT OF OUTSTANDING AUCTION RATE CERTIFICATES OF SUCH CLASS, IF ANY, OWNED BY SUCH EXISTING CERTIFICATEHOLDER WHICH SUCH EXISTING CERTIFICATEHOLDER DESIRES TO CONTINUE TO OWN WITHOUT REGARD TO THE CERTIFICATE RATE FOR THE NEXT SUCCEEDING AUCTION PERIOD; (2) THE PRINCIPAL AMOUNT OF OUTSTANDING AUCTION RATE CERTIFICATES OF SUCH CLASS, IF ANY, WHICH SUCH EXISTING CERTIFICATEHOLDER OFFERS TO SELL IF THE CERTIFICATE RATE FOR THE NEXT SUCCEEDING AUCTION PERIOD SHALL BE LESS THAN THE RATE PER ANNUM SPECIFIED BY SUCH EXISTING CERTIFICATEHOLDER; AND/OR (3) THE PRINCIPAL AMOUNT OF OUTSTANDING AUCTION RATE CERTIFICATES OF SUCH CLASS, IF ANY, OWNED BY SUCH EXISTING CERTIFICATEHOLDER WHICH SUCH EXISTING CERTIFICATEHOLDER OFFERS TO SELL WITHOUT REGARD TO THE CERTIFICATE RATE FOR THE NEXT SUCCEEDING AUCTION PERIOD; AND (B) ONE OR MORE BROKER-DEALERS MAY CONTACT ...
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Certificate Rate. Subject to the terms of the Trust Agreement (including the availability of funds after payment of the Scheduled Servicing Fee), and until the Notes have been paid in full, interest shall be paid with respect to this Certificate at a variable per annum rate equal to the Certificate Rate for such day. The Certificate Rate shall be (i) while the Swap Provider's obligations with respect to variable rate interest payments under the Swap Agreement are in the Weekly Rate Mode, the "Weekly Rate"; and (ii) while the Swap Provider's obligations with respect to variable rate interest payments under the Swap Agreement are in the Flex Rate Mode, the "Flex Rate." If at any time there shall be no Swap Agreement in effect, or if on any Certificate Interest Payment Date the Trustee has not received any Swap Payment, Certificateholders shall, pursuant to the terms of the Trust Agreement, become entitled to receive distributions of Guaranteed Interest on the Notes calculated at the Fixed Rate on the Notes less the Servicer Spread.
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Certificate Rate 
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Related to Certificate Rate

  • REMIC Certificate Maturity Date Solely for purposes of satisfying Section 1.860G-1(a)(4)(iii) of the Treasury Regulations, the "latest possible maturity date" of the regular interests in the Upper-Tier REMIC, Middle-Tier REMIC and Lower-Tier REMIC is October 25, 2035.

  • Determination of Pass-Through Rates for LIBOR Certificates (a) On each Interest Determination Date so long as any LIBOR Certificates are outstanding, the Trustee will determine LIBOR on the basis of the British Bankers' Association ("BBA") "Interest Settlement Rate" for one-month deposits in U.S. dollars as found on Telerate page 3750 as of 11:00 a.m. London time on each LIBOR Determination Date. "Telerate Page 3750" means the display page currently so designated on the Moneyline Telerate Service (formerly the Dow Jones Markets) (or such other pagx xx may replace that page on that service for the purpose of displaying comparable rates or prices).

  • Certificate No 1-A-1-[_] Cut-off Date: October 1, 2004 First Distribution Date: November 25, 2004 Last Scheduled Distribution Date: October 25, 2034 Pass-Through Rate: Variable in accordance with the Agreement Initial Certificate Principal Balance of this Certificate $[ ] ("Denomination"): Initial Certificate Principal Balances of all Certificates $70,640,000 of this Class: CUSIP: 576434 WV 2 ISIN: US576434WV28 MORTGAGE ASSET SECURITIZATION TRANSACTIONS, INC. MASTR ALTERNATIVE LOAN TRUST 2004-11 Mortgage Pass-Through Certificates, Series 2004-11 Class 1-A-1 evidencing a percentage interest in the distributions allocable to the Certificates of the above-referenced Class with respect to a Trust Fund consisting primarily of conventional mortgage loans (the "Mortgage Loans") secured by first liens on one- to four-family residential properties Mortgage Asset Securitization Transactions, Inc., as Depositor Principal in respect of this Certificate is distributable monthly as set forth herein. Accordingly, the Certificate Principal Balance at any time may be less than the Certificate Principal Balance as set forth herein. This Certificate does not evidence an obligation of, or an interest in, and is not guaranteed by the Depositor, the Servicer, the Trust Administrator, the Trustee or the Custodians referred to below or any of their respective affiliates. Neither this Certificate nor the Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality. This certifies that [_______] is the registered owner of the Percentage Interest evidenced by this Certificate in certain monthly distributions with respect to a Trust Fund consisting primarily of the Mortgage Loans deposited by Mortgage Asset Securitization Transactions, Inc. (the "Depositor"). The Trust Fund was created pursuant to a Pooling and Servicing Agreement dated as of the Cut-off Date specified above (the "Agreement") among the Depositor, UBS Real Estate Securities Inc., as transferor (the "Transferor"), Wells Fargo Bank, National Association, as master servicer (in such capxxxxx, the "Servicer"), trust administrator (in such capacity, the "Trust Administrator") and a custodian, U.S. Bank National Association, as a custodian and as trustee (the "Trustee"). Distributions on this Certificate will be made primarily from collections on the applicable Mortgage Loans pursuant to the terms of the Agreement. To the extent not defined herein, the capitalized terms used herein have the meanings assigned in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose unless manually countersigned by an authorized signatory of the Trust Administrator.

  • LIBOR Certificates Notional Amount Certificates........... None. Notional Amount Components............. None. Offered Certificates................... All Classes of Certificates other than the Private Certificates. Physical Certificates.................. Class A-R Certificates and the Private Certificates. Planned Principal Classes.............. None.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Master Servicing Fee Rate The rate used to calculate the Master Servicing Fee for each Mortgage Loan is 0.017% per annum.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Trust Administrator Not Liable for Certificates or Mortgage Loans The recitals contained herein shall be taken as the statements of the Depositor or the Master Servicer or a Servicer, as the case may be, and the Trust Administrator assumes no responsibility for their correctness. The Trust Administrator makes no representations as to the validity or sufficiency of this Agreement, the Certificates or of any Mortgage Loan or related document. The Trust Administrator shall not be accountable for the use or application by the Depositor, the Sellers, the Master Servicer or the Servicers of any funds paid to the Depositor or the Master Servicer or any Servicer in respect of the Mortgage Loans or deposited in or withdrawn from the Certificate Account by the Depositor, the Sellers or the Master Servicer or the Servicers. The Trust Administrator shall not be responsible for the legality or validity of this Agreement or the validity, priority, perfection or sufficiency of the security for the Certificates issued or intended to be issued hereunder. The Trust Administrator shall have no responsibility for filing any financing or continuation statement in any public office at any time or to otherwise perfect or maintain the perfection for any security interest or lien granted to it hereunder or to record this Agreement.

  • Interest Rate The LHIN may charge the HSP interest on any amount owing by the HSP at the then current interest rate charged by the Province of Ontario on accounts receivable.

  • Determination of Pass-Through Rates for COFI Certificates The Pass-Through Rate for each Class of COFI Certificates for each Interest Accrual Period after the initial Interest Accrual Period shall be determined by the Trustee as provided below on the basis of the Index and the applicable formulae appearing in footnotes corresponding to the COFI Certificates in the table relating to the Certificates in the Preliminary Statement. Except as provided below, with respect to each Interest Accrual Period following the initial Interest Accrual Period, the Trustee shall not later than two Business Days prior to such Interest Accrual Period but following the publication of the applicable Index determine the Pass-Through Rate at which interest shall accrue in respect of the COFI Certificates during the related Interest Accrual Period. Except as provided below, the Index to be used in determining the respective Pass-Through Rates for the COFI Certificates for a particular Interest Accrual Period shall be COFI for the second calendar month preceding the Outside Reference Date for such Interest Accrual Period. If at the Outside Reference Date for any Interest Accrual Period, COFI for the second calendar month preceding such Outside Reference Date has not been published, the Trustee shall use COFI for the third calendar month preceding such Outside Reference Date. If COFI for neither the second nor third calendar months preceding any Outside Reference Date has been published on or before the related Outside Reference Date, the Index for such Interest Accrual Period and for all subsequent Interest Accrual Periods shall be the National Cost of Funds Index for the third calendar month preceding such Interest Accrual Period (or the fourth preceding calendar month if such National Cost of Funds Index for the third preceding calendar month has not been published by such Outside Reference Date). In the event that the National Cost of Funds Index for neither the third nor fourth calendar months preceding an Interest Accrual Period has been published on or before the related Outside Reference Date, then for such Interest Accrual Period and for each succeeding Interest Accrual Period, the Index shall be LIBOR, determined in the manner set forth below. With respect to any Interest Accrual Period for which the applicable Index is LIBOR, LIBOR for such Interest Accrual Period will be established by the Trustee on the related Interest Determination Date as provided in Section 4.08. In determining LIBOR and any Pass-Through Rate for the COFI Certificates or any Reserve Interest Rate, the Trustee may conclusively rely and shall be protected in relying upon the offered quotations (whether written, oral or on the Reuters Screen) from the Reference Banks or the New York City banks as to LIBOR or the Reserve Interest Rate, as appropriate, in effect from time to time. The Trustee shall not have any liability or responsibility to any Person for (i) the Trustee's selection of New York City banks for purposes of determining any Reserve Interest Rate or (ii) its inability, following a good-faith reasonable effort, to obtain such quotations from the Reference Banks or the New York City banks or to determine such arithmetic mean, all as provided for in this Section 4.07. The establishment of LIBOR and each Pass-Through Rate for the COFI Certificates by the Trustee shall (in the absence of manifest error) be final, conclusive and binding upon each Holder of a Certificate and the Trustee.

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