Examples of Covered Certificates in a sentence
Thus, the Covered Certificates shall be treated as representing ownership of not only a Master REMIC regular interest, but also ownership of an interest in an interest rate corridor contract.
The Trustee shall treat the rights of the Holders of the Covered Certificates to receive payments from the Corridor Contract Reserve Fund as rights in an interest rate corridor contract written by the Corridor Contract Counterparty.
The Supplemental Interest Trust shall terminate on the earlier of (i) the last Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Covered Certificates is reduced to zero.
Any amounts received by the Supplemental Interest Trustee in respect of the termination of a Corridor Contract shall be deposited and held in the Corridor Contract Reserve Fund and applied on future Distribution Dates to pay the Yield Supplement Amount on the related Class of Covered Certificates.
On the Business Day preceding each Distribution Date, the Swap Trustee shall notify the Swap Contract Administrator of any amounts distributable to the Covered Certificates pursuant to Section 4.02(d)(iii) through (viii) that will remain unpaid following all distributions to be made on such Distribution Date pursuant to Section 4.02(a) through (c).