Examples of Cover Pool Monitor in a sentence
A Branch of PMICIC shall be governed by these Bylaws and shall conduct its business in compliance with PMICIC’s policies and procedures and its charter with PMI.
Furthermore, the Issuer has appointed a Cover Pool Monitor in accordance with the Belgian Covered Bonds Legislation.
The Cover Pool Monitor shall recalculate the Valuation Calculation disclosed in the selected Monthly Report.
In addition, the Cover Pool Monitor shall enquire whether, in calculating the Present Value for purposes of the Valuation Calculation disclosed in the selected Monthly Report, expected future cash flows are discounted using the publicly posted mortgage rates or using the current market interest rates for mortgage loans with credit risks similar to those of the Performing Eligible Loans, and report findings/responses.
The Cover Pool Monitor shall agree the Valuation Calculation to the requirements set forth in Annex E and Section 4.6 of the CMHC Guide.