Notional Clause Samples
The Notional clause defines the reference amount or value upon which certain calculations, such as payments or obligations, are based within a contract. In practice, this could refer to the principal amount in a financial derivative or the face value of a loan, which remains unchanged even as actual cash flows may vary. By establishing a clear notional amount, the clause ensures consistency and clarity in determining the basis for contractual calculations, thereby reducing ambiguity and potential disputes.
Notional. Credited to Participant Accounts only as a bookkeeping entry. ¨ (c) (Specify): .
Notional repayment Each conversion under this Clause 9 shall made by the Borrowers being deemed to make a notional repayment of the relevant part of the Loan which is to be converted and the Lenders being deemed to make a new advance in the New Currency of such sum, after taking account of scheduled repayments due to be made in the Existing Currency under Clause 5 and any mandatory prepayment under Clauses 9.6 or 9.7. The proceeds of each such new advance shall be deemed to be used to purchase the amount due in the Existing Currency which is necessary so that the Borrowers may make the deemed repayment of the part of the Loan which is being converted. However, the Borrowers shall remain indebted to the Lender for the advance made in the New Currency, which shall continue to form part of the Loan as more particularly described in Clause 9.8.
Notional. With respect to any Distribution Date, the notional amount of the Class A-18, Class A-21 and Class A-23 Certificates may be rounded down to the nearest dollar to comply with the requirements of DTC. EXHIBIT I (FORM OF EXCHANGEABLE CERTIFICATE) SOLELY FOR FEDERAL INCOME TAX PURPOSES, THIS CERTIFICATE REPRESENTS (1) A BENEFICIAL OWNERSHIP INTEREST OF A "REGULAR INTEREST" IN A "REAL ESTATE MORTGAGE INVESTMENT CONDUIT," AS THOSE TERMS ARE DEFINED, RESPECTIVELY, IN SECTIONS 860G AND 860D OF THE INTERNAL REVENUE CODE OF 1986, AS AMENDED (THE "CODE") OR (2) A BENEFICIAL OWNERSHIP INTEREST OF CERTAIN PAYMENTS ON ONE OR MORE REGULAR INTERESTS. THIS CERTIFICATE DOES NOT REPRESENT AN OBLIGATION OF OR INTEREST IN CHASE MORTGAGE FINANCE CORPORATION ("CMFC"), JPMORGAN CHASE BANK, N.A. (THE "SERVICER") OR THE TRUSTEE REFERRED TO BELOW OR ANY OF THEIR AFFILIATES. NEITHER THIS CERTIFICATE, THE REMIC REGULAR INTEREST REPRESENTED HEREBY NOR THE UNDERLYING MORTGAGE LOANS ARE GUARANTEED OR INSURED BY CMFC, THE SERVICER, THE TRUSTEE OR BY ANY OF THEIR AFFILIATES OR BY ANY GOVERNMENTAL AGENCY OR INSTRUMENTALITY. FOLLOWING THE INITIAL ISSUANCE OF THE CERTIFICATES, THE PRINCIPAL BALANCE OF THIS CERTIFICATE WILL BE DIFFERENT FROM THE ORIGINAL DENOMINATION SHOWN BELOW. ANYONE ACQUIRING THIS CERTIFICATE MAY ASCERTAIN ITS CURRENT PRINCIPAL BALANCE BY INQUIRY OF THE PAYING AGENT. THIS CERTIFICATE IS AN [EXCHANGEABLE INITIAL CERTIFICATE] [EXCHANGEABLE CERTIFICATE] AND MAY BE EXCHANGED FOR THE [EXCHANGEABLE CERTIFICATES] [EXCHANGEABLE INITIAL CERTIFICATES] IN THE RELATED EXCHANGEABLE COMBINATION. [THIS LEGEND WILL APPEAR ON THE CLASS A-18, CLASS A-21, AND CLASS A-23 CERTIFICATES ONLY.] THE CLASS [ ] CERTIFICATES ARE NOT ENTITLED TO DISTRIBUTIONS IN RESPECT OF PRINCIPAL. CLASS __-A__ CERTIFICATE Number: 06-S4-A-[ ]-1 Cut-off Date: November 1, 2006 First Distribution Date: December 26, 2006 Certificate Rate: Original Denomination: $ Final Scheduled Distribution Date: December 26, 2036 Aggregate Original Principal Balance of all Class A-[ ] Certificates: $ CUSIP: CHASE MORTGAGE FINANCE TRUST MULTI-CLASS MORTGAGE PASS-THROUGH CERTIFICATE SERIES 2006-S4 evidencing a percentage interest in the distributions allocable to the Class A-[ ] Certificates with respect to a Trust Fund consisting primarily of the Trust Account and the Uncertificated REMIC Interests issued by Chase Mortgage Finance Trust Series 2006-S4, secured by a pool of conventional one- to four-family mortgage loans formed and sold...
Notional. Credited to Participant Accounts only as a bookkeeping entry.
Notional. As of the Cut-off Date, the Mortgage Loans had an aggregate Scheduled Principal Balance of $439,396,017.
Notional. Credited to Participant Accounts only as a bookkeeping entry. [ ] (c) (Specify):_____________________________________________________.
Notional. Credited to Participant Accounts only as a bookkeeping entry. [X] (c) (Specify): Not Applicable. The Employer will not make any contributions to the Plan