Adjustable Rate Subordinate Corridor Contract definition

Adjustable Rate Subordinate Corridor Contract. The transaction evidenced by the related Confirmation (as assigned to the Trustee pursuant to the Corridor Contract Assignment Agreement), a form of which is attached hereto as Exhibit Q-4.
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Examples of Adjustable Rate Subordinate Corridor Contract in a sentence

  • In the absence of such written direction, all funds in the Carryover Reserve Fund in respect of amounts received of under the Class 1-AV-1 Corridor Contract, the Class 2-AV Corridor Contract and the Adjustable Rate Subordinate Corridor Contract shall be invested by the Trustee in The Bank of New York cash reserves.

  • In the absence of such written direction, all funds in the Carryover Reserve Fund in respect of amounts received under the Class 2-AV Corridor Contract, Class 3-AV Corridor Contract and Adjustable Rate Subordinate Corridor Contract shall be invested by the Trustee in The Bank of New York cash reserves.

  • For purposes of determining the issue price of the Master REMIC regular interests, the Trustee shall assume that the Class AF-1A Corridor Contract, the Class 2-AV Corridor Contract, the Class 3-AV Corridor Contract and the Adjustable Rate Subordinate Corridor Contract have values of $10,000, $425,000, $410,000 and $660,000, respectively.

  • For purposes of determining the issue price of the Master REMIC regular interests, the Trustee shall assume that the Class AF-1 Corridor Contract, the Class 1-AV-1 Corridor Contract, the Class 2-AV Corridor Contract and Adjustable Rate Subordinate Corridor Contract have values of $3,000, $777,000, $232,000 and $588,000, respectively.

  • For purposes of determining the issue price of the Master REMIC regular interests, the Trustee shall assume that the Class AF-1 Corridor Contract, the Class 1-AV-1 Corridor Contract, the Class 2-AV Corridor Contract and the Adjustable Rate Subordinate Corridor Contract have values of $12,000, $658,000, $449,000 and $511,000, respectively.

  • For purposes of determining the issue price of the Master REMIC regular interests, the Trustee shall assume that the Class AF-1 Corridor Contract, the Class 1-AV-1 Corridor Contract, the Class 2-AV Corridor Contract and the Adjustable Rate Subordinate Corridor Contract have values of $10,000, $900,000, $245,000 and $450,000, respectively.

  • For purposes of determining the issue price of the Master REMIC regular interests, the Trustee shall assume that the Class AF-1 Corridor Contract, the Class 1-AV-1 Corridor Contract, the Class 2-AV Corridor Contract and the Adjustable Rate Subordinate Corridor Contract have values of $6,000, $563,000, $240,000 and $441,000, respectively.

  • In the absence of such written direction, all funds in the Carryover Reserve Fund in respect of amounts received under the Class 1-AV Corridor Contract, Class 2-AV Corridor Contract, Class 3-AV Corridor Contract and Adjustable Rate Subordinate Corridor Contract shall be invested by the Trustee in The Bank of New York cash reserves.

  • The Class AF-1 Corridor Contract, the Class 1-AV-1 Corridor Contract, the Class 2-AV Corridor Contract or the Adjustable Rate Subordinate Corridor Contract, as applicable.

  • With respect to the Adjustable Rate Subordinate Corridor Contract, the Distribution Date in June 2009.

Related to Adjustable Rate Subordinate Corridor Contract

  • Adjustable Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Adjustable Rate Mortgage Loan A Mortgage Loan serviced pursuant to this Agreement under which the Mortgage Interest Rate is adjusted from time to time in accordance with the terms and provisions of the related Mortgage Note.

  • Senior Subordinate Certificates The Class B1, Class B2 and Class B3 Certificates.

  • Group I Subordinate Percentage For any Distribution Date, the excess of 100% over the Group I Senior Percentage for such date.

  • Group II Subordinate Percentage For any Distribution Date, the excess of 100% over the Group II Senior Percentage for such date.

  • Junior Subordinate Certificates The Class B-4, Class B-5 and Class B-6 Certificates.

  • Initial Subordinate Class Percentage As defined in the Series Supplement.

  • Offered Subordinate Certificates As specified in the Preliminary Statement.

  • Mid-Swap Floating Leg Benchmark Rate means EURIBOR (if the Specified Currency is euro), LIBOR for the Specified Currency (if the Specified Currency is U.S. dollars, Pounds Sterling or Swiss Francs), CIBOR (if the Specified Currency is Danish Kroner), NIBOR (if the Specified Currency is Norwegian Kroner), STIBOR (if the Specified Currency is Swedish Kronor) or (in the case of any other Specified Currency) the benchmark rate most closely connected with such Specified Currency and selected by the Calculation Agent in its discretion after consultation with the Issuer;

  • Fixed Rate Certificates As specified in the Preliminary Statement.

  • Floating Rate Certificates The Class A Certificates and the Mezzanine Certificates.

  • Floating Rate Classes The Classes designated as either “Floating Rate” or “Inverse Floating Rate” in the Prospectus Supplement.

  • Class Subordination Percentage With respect to any Distribution Date and each Class of Subordinated Certificates, the quotient (expressed as a percentage) of (a) the Class Certificate Balance of such Class of Certificates immediately prior to such Distribution Date divided by (b) the aggregate of the Class Certificate Balances immediately prior to such Distribution Date of all Classes of Certificates.

  • Floating Rate Certificate A Certificate that provides for the payment of interest at a Floating Pass-Through Rate determined periodically by reference to a formula specified in the related Supplement.

  • Floating Interest Rate means: (a) initially Three-Month Term SOFR (as defined below). (b) Notwithstanding the foregoing clause (i) of this Section 2(b): (i) If the Calculation Agent, determines prior to the relevant Floating Interest Determination Date that a Benchmark Transition Event and its related Benchmark Replacement Date (each of such terms as defined below) have occurred with respect to Three-Month Term SOFR, then the Company shall promptly provide notice of such determination to the Holders and Section 2(c) (Effect of Benchmark Transition Event) will thereafter apply to all determinations, calculations and quotations made or obtained for the purposes of calculating the Floating Interest Rate payable on the Subordinated Notes during a relevant Floating Interest Period. (ii) However, if the Calculation Agent, determines that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred with respect to Three-Month Term SOFR, but for any reason the Benchmark Replacement has not been determined as of the relevant Floating Interest Determination Date, the Floating Interest Rate for the applicable Floating Interest Period will be equal to the Floating Interest Rate on the last Floating Interest Determination Date for the Subordinated Notes, as determined by the Calculation Agent (as defined below). (iii) If the then-current Benchmark is Three-Month Term SOFR and any of the foregoing provisions concerning the calculation of the interest rate and the payment of interest during the Floating Interest Period are inconsistent with any of the Three-Month Term SOFR Conventions determined by the Company, then the relevant Three-Month Term SOFR Conventions will apply.

  • Fixed Rate Certificate A Certificate that provides for a payment of interest at a Fixed Pass-Through Rate.

  • Subordinate Certificate Any one of the Class M Certificates or Class B Certificates, executed by the Trustee and authenticated by the Certificate Registrar substantially in the form annexed hereto as Exhibit B and Exhibit C, respectively.

  • Interest Rate Swap Agreement means the agreement(s) (including any further replacement agreements) entered into between the Guarantor LP and the Interest Rate Swap Provider(s) in the form of an ISDA Master Agreement, as the same may be amended, varied, supplemented, restated or extended from time to time, including a schedule and confirmations in relation to each Tranche or Series of Covered Bonds;

  • Fixed Rate Mortgage Loan A fixed rate mortgage loan purchased pursuant to this Agreement.

  • Subordinate Companion Loan A Companion Loan that, to the extent provided in the related Loan Documents and/or the related Co-Lender Agreement, is generally subordinate in right of payment to the related Split Mortgage Loan. The only Subordinate Companion Loans related to the Trust as of the Closing Date are evidenced by the Notes identified in the Loan Combination Table under the column heading “Subordinate Companion Loan(s),” each of which Notes evidences a separate Subordinate Companion Loan.

  • Aggregate Subordinate Percentage As to any Distribution Date, the percentage equivalent of a fraction the numerator of which is the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates and the denominator of which is the Pool Balance for such Distribution Date.

  • Interest Rate Contract means any interest rate swap agreement, interest rate cap agreement, interest rate floor agreement, interest rate collar agreement, interest rate option or any other agreement regarding the hedging of interest rate risk exposure executed in connection with hedging the interest rate exposure of any Person and any confirming letter executed pursuant to such agreement, all as amended, restated, supplemented or otherwise modified from time to time.

  • Class A-4 Interest Rate means [ ]% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Original Subordinate Principal Balance The sum of the aggregate Current Principal Amounts of each Class of Subordinate Certificates as of the Closing Date.