Class Notional Amount Sample Clauses

Class Notional Amount. As of close of business on the Cut-off Date, the Mortgage Loans had an aggregate Cut-off Date Balance equal to $1,014,816,338. In consideration of the mutual agreements herein contained, the Depositor, the Master Servicer, the Special Servicer and the Trustee agree as follows:
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Class Notional Amount. Notional Certificates will not be entitled to distributions of principal. The Notional Certificates will accrue interest on a notional amount equal to the Certificate Principal Amount of the related Initial Exchangeable or Exchangeable Certificates. EXHIBIT K FORM OF EXCHANGEABLE NOTICE [CERTIFICATEHOLDER’S LETTERHEAD] [DATE] Wxxxx Fargo Bank, National Association 9000 Xxx Xxxxxxxxx Xxxx Xxxxxxxx, Xxxxxxxx 00000 Attention: RMBS – Oaks Mortgage Trust Series 2015-2 RE: Oaks Mortgage Trust Series 2015-2, Mortgage Pass-Through Certificates, Series 2015-2 Ladies and Gentlemen: Pursuant to the terms of the Pooling and Servicing Agreement, dated as of November 1, 2015, (the “Agreement”), by and among Oaks Funding LLC, as Depositor, Wxxxx Fargo Bank, N.A., as Master Servicer and Securities Administrator, Five Oaks Acquisition Corp., as Servicing Administrator, and Wilmington Savings Fund Society, FSB, d/b/a Christiana Trust, as Trustee, we hereby present and surrender the certificates specified on Annex I attached hereto for exchange, and transfer, assign, set over and otherwise convey to the Securities Administrator, all of our rights, title and interest in and to such certificates, including all payments of interest thereon received after [insert date of exchange], in exchange for the certificates to be received as specified on Annex I attached hereto. We agree that upon such exchange the portions of the certificates surrendered for exchange shall be deemed cancelled and replaced by the certificates received in exchange therefor. We confirm that we have paid a fee calculated in accordance with Section 3.10 of the Agreement. Very truly yours, [NAME OF TRANSFEREE] By: Authorized Officer Email Address: [MEDALLION STAMP GUARANTEE] Acknowledged by: WXXXX FARGO BANK, N.A., as Securities Administrator By: Name: Title: Annex I to Exhibit K EXCHANGE CERTIFICATES Certificates submitted for exchange Certificates to be received from exchange Certificateholder’s Clearing Agency Participant Number Proposed Exchange Date Certificate(s) Outstanding Certificate Principal (or Certificate Notional) Amount CUSIP Number Percentage Interest Certificate(s) Outstanding Certificate Principal (or Certificate Notional) Amount CUSIP Number EXHIBIT L FORM OF CERTIFICATE OF TRUST CERTIFICATE OF TRUST OF OAKS MORTGAGE TRUST SERIES 2015-2 This CERTIFICATE OF TRUST of Oaks Mortgage Trust Series 2015-2 (the “Trust”) is being duly executed and filed on behalf of the Trust by the undersigned, as t...
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Class Notional Amount. 16 -iv- TABLE OF CONTENTS (CONTINUED) PAGE Class P Certificates ......................................... 16
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Class Notional Amount. (4) The Pass-Through Rate for this class of certificates for any Distribution Date will be equal to the Weighted Average Remittance Rate on the Mortgage Loans for such Distribution Date minus 0.37%.
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Class Notional Amount. The Class X Certificates will not have a Class Principal Balance and will not entitle their Holders to receive distributions of principal. As more specifically provided herein, interest in respect of such Class of Certificates will consist of the aggregate amount of interest accrued on the respective Component Notional Amounts of such Class' Components from time to time. As provided herein, the Trustee shall take all actions necessary to ensure that the portion of the Trust Fund consisting of the Grantor Trust Assets maintains its status as a Grantor Trust under the Code. The aggregate Cut-off Date Balance of the Mortgage Loans will be $1,305,691,486. The initial aggregate Uncertificated Principal Balance of the REMIC I Regular Interests, the initial aggregate Uncertificated Principal Balance of the REMIC II Regular Interests and the initial aggregate Class Principal Balance of the respective Classes of Regular Interest Certificates (other than the Class X Certificates) will in each case be $1,305,691,485.
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Class Notional Amount. (3) The Class Notional Amount of this RCR Note will equal the Class Principal Balance of the related Exchangeable Note.
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Related to Class Notional Amount

  • Notional Amount Not applicable.

  • Aggregate Principal Amount The aggregate principal amount of the Senior Notes that may be authenticated and delivered under this First Supplemental Indenture shall be unlimited; provided that the Obligor complies with the provisions of this First Supplemental Indenture.

  • Payment of Additional Amounts (a) All payments by the Corporation in respect of the Debentures (including the conversion thereof and including the issuance of Freely Tradeable Shares issuable pursuant to Section 2.3(c) for interest payments or otherwise) will be made free and clear of, and without withholding or deduction for or on account of any Taxes imposed, levied, collected, withheld or assessed by or on behalf of any Taxing Jurisdiction, unless such withholding or deduction is so required by law or by the interpretation or administration thereof by the relevant Governmental Authority. If any such withholding or deduction is so required, the Corporation will pay such additional amounts (“Additional Amounts”) as may be necessary so that the net amount received by each holder of Debentures after such withholding or deduction (including any withholding or deduction required to be made in respect of Additional Amounts) will not be less than the amount the holder would have received if such Taxes had not been withheld or deducted. If any such withholding or deduction is not so required, or if required, is not made, and a holder of a Debenture who is a non-resident of Canada for purposes of the Tax Act is required to pay directly any Taxes imposed, levied, collected or assessed by or on behalf of any Taxing Jurisdiction, then, upon written request of such holder and provided that reasonable supporting documentation is provided, the Corporation will pay such additional amounts (the term “Additional Amounts” shall also include any such additional amounts) as may be necessary so that the net amount received by each such holder of Debentures after payment of such Taxes (including any Taxes required to be paid in respect of such Additional Amounts) will not be less than the amount the holder would have received if such Taxes had not been imposed, levied, collected or assessed; provided that no Additional Amounts will be payable with respect to a payment made to a Debentureholder for or in respect of:

  • Determination of Amount Outstanding On each Quarterly Date and, in addition, promptly upon the receipt by the Administrative Agent of a Currency Valuation Notice (as defined below), the Administrative Agent shall determine the aggregate Revolving Multicurrency Credit Exposure. For the purpose of this determination, the outstanding principal amount of any Loan that is denominated in any Foreign Currency shall be deemed to be the Dollar Equivalent of the amount in the Foreign Currency of such Loan, determined as of such Quarterly Date or, in the case of a Currency Valuation Notice received by the Administrative Agent prior to 11:00 a.m., New York City time, on a Business Day, on such Business Day or, in the case of a Currency Valuation Notice otherwise received, on the first Business Day after such Currency Valuation Notice is received. Upon making such determination, the Administrative Agent shall promptly notify the Multicurrency Lenders and the Borrower thereof.

  • Designation, Amount and Par Value The series of preferred stock shall be designated as the Series D 5% Convertible Preferred Stock (the "Preferred Stock"), and the number of shares so designated and authorized shall be Three Thousand (3,000). Each share of Preferred Stock shall have a par value of $0.0001 per share and a stated value of $1,000 per share (the "Stated Value").

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Interest Amount Unless otherwise specified in Paragraph 13 and subject to Paragraph 4(a), in lieu of any interest, dividends or other amounts paid or deemed to have been paid with respect to Posted Collateral in the form of Cash (all of which may be retained by the Secured Party), the Secured Party will Transfer to the Pledgor at the times specified in Paragraph 13 the Interest Amount to the extent that a Delivery Amount would not be created or increased by that Transfer, as calculated by the Valuation Agent (and the date of calculation will be deemed to be a Valuation Date for this purpose). The Interest Amount or portion thereof not Transferred pursuant to this Paragraph will constitute Posted Collateral in the form of Cash and will be subject to the security interest granted under Paragraph 2.

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