Fitch Municipal Preferred Asset Coverage definition

Fitch Municipal Preferred Asset Coverage means, as of a particular date or time, sufficient asset coverage with respect to shares of Municipal Preferred such that the Trust is satisfying both the (i) Fitch Total OC Test and the (ii) Fitch Net OC Test as of such date or time.
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Examples of Fitch Municipal Preferred Asset Coverage in a sentence

  • On or before 5:00 p.m., New York City time, on the third Business Day after the Trust shall have redeemed Common Shares, the Trust will complete and deliver (i) a Fitch Municipal Preferred Asset Coverage Report to Fitch and (ii) a Moody's Municipal Preferred Asset Coverage Report to Moody's as of the date of such event.

  • So long as shares of Municipal Preferred are outstanding, the Trust shall maintain, on each Valuation Date, and shall verify to its satisfaction that it is maintaining on such Valuation Date, both (i) Fitch Municipal Preferred Asset Coverage (if Fitch is then rating the shares of Municipal Preferred) and (ii) Moody's Municipal Preferred Asset Coverage (if Moody's is then rating the shares of Municipal Preferred).

  • The Trust will also deliver, for any Valuation Date, (i) a Moody's Municipal Preferred Asset Coverage Report to Moody's (if Moody's is then rating the shares of the Municipal Preferred) if and when requested by Moody's and (ii) a Fitch Municipal Preferred Asset Coverage Report to Fitch (if Fitch is then rating the shares of the Municipal Preferred) if and when requested by Fitch or as otherwise required under the Fitch Criteria, on or before the third Business Day after such request.

  • The only differences between them are print speed and sales destinations.

Related to Fitch Municipal Preferred Asset Coverage

  • Mortgage-backed Securities means securities that are secured or otherwise backed by Mortgage Loans.

  • Mortgage-backed security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • Asset-backed security means a security that is primarily serviced by the cash flows of a discrete pool of mortgages, receivables or other financial assets, fixed or revolving, that by their terms convert into cash within a finite period and any rights or other assets designed to assure the servicing or the timely distribution of proceeds to securityholders;

  • SIFMA Municipal Swap Index means the Securities Industry and Financial Markets Association Municipal Swap Index, or such other weekly, high-grade index comprised of seven-day, tax-exempt variable rate demand notes produced by Municipal Market Data, Inc. or its successor, or as otherwise designated by the Securities Industry and Financial Markets Association; provided, however, that if such index is no longer produced by Municipal Market Data, Inc. or its successor, then SIFMA Municipal Swap Index shall mean (i) the S&P Municipal Bond 7 Day High Grade Rate Index produced by Standard & Poor’s Financial Services LLC or its successors or (ii) if the S&P Municipal Bond 7 Day High Grade Rate Index is no longer produced, such other reasonably comparable index selected in good faith by the Board of Trustees of the Fund.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Asset-Backed Securities means securities which:

  • Receivables Transaction Attributed Indebtedness means the amount of obligations outstanding under the legal documents entered into as part of any Qualified Receivables Transaction on any date of determination that would be characterized as principal if such Qualified Receivables Transaction were structured as a secured lending transaction rather than as a purchase.

  • Permitted Special Servicer/Affiliate Fees Any commercially reasonable treasury management fees, banking fees, title insurance and/or other insurance commissions and fees, title agency fees, and appraisal review fees received or retained by the Special Servicer or any of its Affiliates in connection with any services performed by such party with respect to any Serviced Loan or REO Property, in each case, in accordance with Article III of this Agreement.

  • Rental Property means a hotel room, vacation home, or other rental property You booked for Your stay during Your Trip.

  • Company Real Property means the Company Owned Real Property and the Company Leased Real Property.

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • CMSA Historical Liquidation Report means a report substantially in the form of, and containing the information called for in, the downloadable form of the "Historical Liquidation Report" available as of the Closing Date on the CMSA Website, or such other form for the presentation of such information and containing such additional information as may from time to time be approved by the CMSA for commercial mortgage securities transactions generally.

  • Wholesale acquisition cost means the same as that term is defined in 42 U.S.C. Sec. 1395w-3a.