Excess Yield Transaction definition

Excess Yield Transaction means a transaction in which Servicer sells Excess Yield in exchange for the Stripped Interest Certificate.
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Excess Yield Transaction means a transaction whereby Borrower sells the Excess Yield to Freddie Mac in exchange for a Stripped Interest Certificate, which may be later sold to an underwriter, as further described in the Freddie Mac Acknowledgment Agreement.
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Excess Yield Transaction means a transaction in which Borrower conveys Excess Yield to Xxxxxx Xxx in exchange for a Stripped Interest Certificate, and, to the extent applicable, Borrower agrees to sell the Stripped Interest Certificate to an underwriter who will offer such Stripped Interest Certificate from time to time in negotiated transactions at varying prices either directly or through designated dealers.
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Examples of Excess Yield Transaction in a sentence

  • As of the date of the related Excess Yield Transaction and upon Xxxxxx's satisfaction that no Borrowing Base Deficiency or breach of representation and warranty or covenant will result, the Lender releases its security interest in that portion of the Collateral defined as Excess Yield.

  • In connection with such Excess Yield Transaction, the Lender will execute a Partial Release (Excess Yield) and approve the filing of such financing statement amendments required to reflect the fact that the Excess Yield is no longer subject to the Liens granted under the Facility Documents.

  • In connection with an Excess Yield Transaction and to the extent permitted in accordance with the provisions of Section 3.02(b)(iii) hereof, the Lender shall release its security interest in that portion of the Collateral that will be defined as Excess Yield upon consummation of the Excess Yield Transaction solely with respect to the Released Excess Yield Mortgages identified in the Partial Release (Excess Yield).

  • In connection with an Excess Yield Transaction and to the extent permitted in accordance with the provisions of Section 2.08(c) hereof, the Lender shall release its security interest in that portion of the Collateral that will be defined as Excess Yield upon consummation of the Excess Yield Transaction solely with respect to the Released Excess Yield Mortgages identified in the Partial Release (Excess Yield).

  • Lender’s release will be effective on the Excess Yield Transaction Settlement Date.

  • Borrower may request that Xxxxxx consent to Borrower entering into an Excess Yield Transaction by delivering notice to Lender (an “EYT Notice”), at least seven (7) Business Days prior to the applicable closing date of such Excess Yield Transaction (the “Excess Yield Transaction Settlement Date”).

  • Notwithstanding the foregoing, the parties hereby agree that only one Excess Yield Transaction is permitted pursuant to the provisions hereunder.

  • Each EYT Notice shall identify the Excess Yield Transaction Settlement Date and the proposed Released Excess Yield Mortgages and request that the Administrative Agent on behalf of each Lender (i) releases its Lien on the portion of the Collateral that will be defined as Excess Yield upon consummation of the Excess Yield Transaction, solely with respect to Released Excess Yield Mortgages, and (ii) consent to the filing of an applicable UCC-3 reflecting such release.

  • Subject to the satisfaction of the conditions in Section 2.10(c) below, the Administrative Agent on behalf of Xxxxxx shall execute the Partial Release (Excess Yield) and shall, on the Excess Yield Transaction Date, release its security interest in the Excess Yield solely with respect to the Released Excess Yield Mortgages identified in the Partial Release (Excess Yield).

  • If the Borrower elects to enter into an Excess Yield transaction with Xxxxxx Xxx, the Borrower shall deliver notice (which may be an email notice) of such request to the Administrative Agent (an “EYT Notice”) [***] prior to the Excess Yield Transaction Date (or such lesser period of time as may be agreed by the Administrative Agent).


More Definitions of Excess Yield Transaction

Excess Yield Transaction means a transaction in which the Borrower conveys Excess Yield to a Xxxxxx Xxx SMBS trust in exchange for SMBS Certificates, and to the extent applicable, the Borrower agrees to sell the SMBS Certificates to an underwriter who will offer the SMBS Certificates from time to time in negotiated transactions at varying prices either directly or through designated dealers.
Sample 1
Excess Yield Transaction a transaction in which Servicer sells Excess Yield to Freddie Mac in exchange for the Stripped Interest Certificate, and, to the extent applicable, Servicer agrees to sell the Stripped Interest Certificate to an underwriter who will offer the Stripped Interest Certificate from time to time in negotiated transactions at varying prices either directly or through designated dealers.
Sample 1

Related to Excess Yield Transaction

  • Portfolio Yield means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, the numerator of which is (a) the amount of Available Funds allocated to the MBNAseries pursuant to Section 501 of the Indenture, plus (b) any Interest Funding sub-Account Earnings on the related Transfer Date, plus (c) any amounts to be treated as MBNAseries Available Funds pursuant to Sections 3.20(d) and 3.27(a) of the Indenture Supplement, plus (d) the MBNAseries Servicer Interchange for such Monthly Period, minus (e) the excess, if any, of the sum of the PFA Prefunding Earnings Shortfall plus the PFA Accumulation Earnings Shortfall over the sum of the aggregate amount to be treated as MBNAseries Available Funds for such Monthly Period pursuant to Sections 3.04(a)(ii) and 3.25(a) of the Indenture Supplement plus any other amounts applied to cover earnings shortfalls on amounts in the Principal Funding sub-Account for any tranche of MBNAseries Notes for such Monthly Period, minus (f) the MBNAseries Investor Default Amount for such Monthly Period, and the denominator of which is the Weighted Average Available Funds Allocation Amount for the MBNAseries for such Monthly Period.

  • Excess Spread means, with respect to any Distribution Date, the sum of the amounts, if any, specified pursuant to subsections 4.05(a)(iv), 4.05(b)(iii) and 4.05(c)(ii) with respect to such Distribution Date.

  • Weighted Average Advance Rate means, as of any date of determination with respect to all Eligible Collateral Obligations included in the Adjusted Aggregate Eligible Collateral Obligation Balance, the number obtained by (i) summing the products obtained by multiplying (a) the Advance Rate of each such Eligible Collateral Obligation by (b) such Eligible Collateral Obligation’s contribution to the Adjusted Aggregate Eligible Collateral Obligation Balance and (ii) dividing such sum by the Adjusted Aggregate Eligible Collateral Obligation Balance.

  • Series Adjusted Portfolio Yield means, with respect to any Monthly Period, the annualized percentage equivalent of a fraction, (A) the numerator of which is equal to (a) Reallocated Investor Finance Charge Collections with respect to such Monthly Period, plus (b) the amount of any Principal Funding Account Investment Proceeds for the related Distribution Date, plus (c) provided that each Rating Agency has consented in writing to the inclusion thereof in calculating the Series Adjusted Portfolio Yield, any Excess Finance Charge Collections that are allocated to Series 2024-1 with respect to such Monthly Period, plus (d) the amount of funds, if any, withdrawn from the Reserve Account which pursuant to subsection 4.12(d) are required to be deposited into the Collection Account and included as Class A Available Funds for the Distribution Date with respect to such Monthly Period, minus (e) the Investor Default Amount for the Distribution Date with respect to such Monthly Period, and (B) the denominator of which is the Invested Amount as of the last day of the preceding Monthly Period.

  • Weighted Average Floating Spread means, as of any date of determination, the number, expressed as a percentage, obtained by summing the products obtained by multiplying, in the case of each Floating Rate Loan (excluding Defaulted Loans) on an annualized basis, the Spread of such Loans (including commitment, letter of credit and all other fees), by the Outstanding Loan Balance of such Loans as of such date and dividing such sum by the aggregate Outstanding Loan Balance of all such Floating Rate Loans and rounding the result up to the nearest 0.01%; provided that the Spread of any Revolver Loan which is not fully funded shall be the sum of: