Broker Strip definition

Broker Strip. With respect to each Broker Strip Loan, the right to receive interest accrued on the principal balance of such Mortgage Loan at the Broker Strip Rate for such Mortgage Loan.
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Broker Strip means the per annum rate set forth on Schedule IX with respect to each Broker Strip Loan.
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Broker Strip. The strip relating to the Broker Strip Loans set forth on Exhibit Q hereto.
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Examples of Broker Strip in a sentence

  • The Broker Strip Payees to whom the Broker Strip is payable are hereby designated as owning undivided beneficial interests in the Broker Strip payable on the Mortgage Loans and the REO Loans and proceeds thereof.

  • In respect of each Broker Strip Loan, the Master Servicer shall, on a monthly basis, by the last day of the month following the month in which the Master Servicer collected such Broker Strip, remit to the applicable Broker Strip Payee the amount of the Broker Strip so collected.

  • As provided herein, the Trustee will elect to treat the segregated pool of assets consisting of all of the Trust Mortgage Loans (exclusive of the Broker Strip, the Excess Servicing Strip and that portion of the interest payments on the Trust Mortgage Loans that constitutes Additional Interest) and certain other related assets subject to this Agreement as a REMIC for federal income tax purposes, and such segregated pool of assets will be designated as "REMIC I".

  • Under no circumstances may the REMIC Administrator vary the assets of any of Grantor Trust Z, Grantor Trust E or Grantor Trust B so as to take advantage of variations in the market so as to improve the rate of return of Holders of the Class Z Certificates, the holder of the Excess Servicing Strip or the Broker Strip Payees to whom the Broker Strip is payable, as the case may be.

  • In respect of each Broker Strip Loan, the applicable Master Servicer shall, on a monthly basis, by the last day of the month following the month in which the applicable Master Servicer collected any related Broker Strip Interest, remit to the applicable Broker Strip Payee the amount of the Broker Strip Interest so collected.

  • VIII-1 Schedule IX Broker Strip Schedule...........................................Sch.

  • III-1 Schedule IV Broker Strip Schedule...............................................................

  • In respect of each Broker Strip Loan, the Master Servicer shall, on a monthly basis, by the last day of the month following the month in which the Master Servicer collected such Broker Strip, remit to the applicable broker set forth on Exhibit Q hereto, the amount of the Broker Strip so collected.

  • III-1 Schedule IV Broker Strip Schedule..................................................................Sch.

  • Under no circumstances may the REMIC Administrator vary the assets of any of Grantor Trust A-2FL, Grantor Trust A-4FL, Grantor Trust Z, Grantor Trust E or Grantor Trust B so as to take advantage of variations in the market so as to improve the rate of return of Holders of the Class Z Certificates, Holders of the Class A-2FL Certificates, Holders of the Class A-4FL Certificates, the holder of the Excess Servicing Strip or the Broker Strip Payees to whom the Broker Strip is payable, as the case may be.

Related to Broker Strip

  • Broker-Dealer Subsidiary means any Subsidiary that is registered as a broker-dealer under the Exchange Act or any other applicable law requiring similar registration.

  • Broker means any person engaged in the business of effecting transactions in securities for the account of others.

  • Broker-Dealer Agreement means each agreement between the Auction Agent and a Broker-Dealer substantially in the form attached hereto as Exhibit A.

  • Broker-Dealer Any broker or dealer registered under the Exchange Act.

  • Broker Fee shall have the meaning ascribed to such term in Section 2(b)(v).

  • Restricted Broker-Dealer Any Broker-Dealer which holds Broker-Dealer Transfer Restricted Securities.

  • Broker Dealer of Record means GWM Limited or any successor or replacement thereto or any other entity appointed as broker dealer of record in accordance with the terms of the Broker Dealer of Record Agreement.

  • Participating Broker-Dealers shall have the meaning set forth in Section 4(a) hereof.

  • Designated Broker Agreement means an agreement between the Manager, on behalf of the ETFs, and a Designated Broker;

  • Market Maker means a broker or dealer permitted by the SEHK to act as such by making a market for the Units in the secondary market on the SEHK.

  • Participating Broker-Dealer shall have the meaning set forth in Section 3(t) hereof.

  • Participating Interest is defined in Section 1.2(d) hereof.

  • body in which the relevant person has a beneficial interest means a firm in which the relevant person is a partner or a body corporate of which the relevant person is a director, or in the securities of which the relevant person has a beneficial interest;

  • Primary Residence means an Insured’s fixed, permanent and main home for legal and tax purposes.

  • Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a “controlled partnership”.

  • Ocean Transportation Intermediaries (“OTI”) shall include an “ocean freight forwarder” and a “non-vessel operating carrier”;

  • Multi-family dwelling means a structure that contains more than one separate dwelling unit, which is used, or occupied, or intended to be used or occupied, in whole, or in part as the home or residence of one or more persons.

  • Exempt commercial purchaser means any person purchasing commercial insurance that, at the time of placement, meets the following requirements:

  • Market Making means the continuous tender of two-way quotes by a Market Maker i.e. Bid Price and Offer Price for the purchase and sale of the equity securities of GC;

  • Multi-family housing means a building or structure that is designed to house two (2) or more different households in separate housing Units which have full kitchen facilities including oven/range, refrigerator, kitchen sink with hot and cold water supply and food storage facilities and at least one (1) full bathroom facility(s), one (1) full bedroom and one (1) living area (including a combination thereof such as studio arrangements).

  • Brokerage means the provision by a third party of services, for a fee, to source Sub-Contractors to provide the Services on behalf of the Provider.

  • Forward Hedge Selling Commission means, for any Forward Contract, the product of (x) the Forward Hedge Selling Commission Rate for such Forward Contract and (y) the Volume-Weighted Hedge Price.

  • Participating means an employee is currently earning service credit in the system as provided in KRS 61.543;

  • Forward Hedge Selling Period means, subject to Section 2(c) hereof, the period of one to 20 consecutive Trading Days (as determined by the Company in the Company’s sole discretion and specified in the applicable Placement Notice (as amended by the corresponding Acceptance, if applicable) specifying that it relates to a “Forward”) beginning on the date specified in the applicable Placement Notice (as amended by the corresponding Acceptance, if applicable) or, if such date is not a Trading Day, the next Trading Day following such date and ending on the last such Trading Day or such earlier date on which the Forward Seller shall have completed the sale of Forward Hedge Securities in connection with the applicable Forward; provided that if, prior to the scheduled end of any Forward Hedge Selling Period (x) any event occurs that would permit the Forward Purchaser to designate a “Scheduled Trading Day” as an “Early Valuation Date” (as each such term is defined in the Master Forward Confirmation) under, and pursuant to the provisions opposite the caption “Early Valuation” in Section 2 of the Master Forward Confirmation or (y) a “Bankruptcy Termination Event” (as such term is defined in the Master Forward Confirmation) occurs, then the Forward Hedge Selling Period shall, upon the Forward Seller becoming aware of such occurrence, immediately terminate as of the first such occurrence. Any Forward Hedge Selling Period then in effect shall immediately terminate upon the termination of this Agreement pursuant to Section 9 or Section 13 hereof and as set forth in Sections 2(b) and 4 hereof.

  • Affiliated Association means an Association accorded the status of an Affiliated Association under the rules of The FA.

  • Other Registrable Securities means (i) any Common Equity held (directly or indirectly) by any Other Holders or any of their Affiliates, and (ii) any equity securities of the Company or any Subsidiary issued or issuable with respect to the securities referred to in clause (i) above by way of dividend, distribution, split or combination of securities, or any recapitalization, merger, consolidation or other reorganization.