Fractional Undivided Interest definition
Fractional Undivided Interest means the fractional undivided interest in a Trust that is represented by a Certificate relating to such Trust.
Fractional Undivided Interest. Means the fractional undivided interest in the Trust that is evidenced by a Certificate.
Fractional Undivided Interest. The percentage interest in the Issuing Entity shown on a Certificateholders’ Certificate.
Examples of Fractional Undivided Interest in a sentence
The Certificates are issuable only as registered Certificates without coupons in minimum denominations of $2,000 (or such other denomination that is the lowest integral multiple of $1,000 that is, at the time of issuance, equal to at least 1,000 euros) Fractional Undivided Interest and integral multiples of $1,000 in excess thereof except that one Certificate may be issued in a different denomination.
As provided in the Agreement and subject to certain limitations therein set forth, the Certificates are exchangeable for new Certificates of authorized denominations evidencing the same aggregate Fractional Undivided Interest in the Trust, as requested by the Certificateholder surrendering the same.
Each Class A Certificate represents a Fractional Undivided Interest in the Class A Trust created hereby.
The Class B Certificates shall be the only instruments evidencing a Fractional Undivided Interest in the Class B Trust.
Each Class B Certificate represents a Fractional Undivided Interest in the Class B Trust created hereby.
More Definitions of Fractional Undivided Interest
Fractional Undivided Interest. With respect to any Class of Certificates, the fractional undivided interest evidenced by any Certificate of such Class the numerator of which is the Current Principal Amount, or Notional Amount in the case of the Interest Only Certificates, of such Certificate and the denominator of which is the Current Principal Amount, or Notional Amount in the case of the Interest Only Certificates, of such Class. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) each class of Residual Certificates will be deemed to equal 0.25%, (ii) each class of Interest Only Certificates will be deemed to equal 1.0% multiplied by a fraction, the numerator of which is the Notional Amount of such Certificate and the denominator of which is the aggregate Notional Amount of such respective Class and (iii) a Certificate of any other Class will be deemed to equal 98.25% multiplied by a fraction, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amount of all the Certificates; provided, however, the percentage in clause (iii) above shall be increased by 1% upon the retirement of each Class of Interest Only Certificates.
Fractional Undivided Interest. With respect to any Class of Certificates, the fractional undivided interest evidenced by any Certificate of such Class the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the Current Principal Amount of such Class. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) each Class of Residual Certificates will be deemed to equal 0.25% multiplied by the percentage interest of such Residual Certificate and (ii) a Certificate of any other Class will be deemed to equal 99.25% multiplied by a fraction, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amount of all the Certificates. F▇▇▇▇▇▇ Mac: F▇▇▇▇▇▇ Mac, formerly the Federal Home Loan Mortgage Corporation, or any successor thereto.
Fractional Undivided Interest. With respect to any Class of Certificates, the fractional undivided interest evidenced by any Certificate of such Class the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the Current Principal Amount of such Class. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) each Class of Residual Certificates will be deemed to equal 0.25% multiplied by the percentage interest of such Residual Certificate, (ii) each Class of Interest Only Certificates will be deemed to equal 1.00% multiplied by a fraction, the numerator of which is the Notional Amount of such Certificate and the denominator of which is the aggregate Notional Amount of its respective Class and (iii) a Certificate of any other Class will be deemed to equal 95.00% multiplied by a fraction, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amount of all the Certificates; provided, however, the percentage in clause (iii) above should be increased by 1.00% upon the retirement of each Class of Interest Only Certificates. F▇▇▇▇▇▇ Mac: F▇▇▇▇▇▇ Mac, formerly the Federal Home Loan Mortgage Corporation, or any successor thereto.
Fractional Undivided Interest. With respect to any Class of Certificates (other than the Class XP Certificates), the fractional undivided interest evidenced by any Certificate of such Class the numerator of which is the Certificate Principal Balance of such Certificate and the denominator of which is the Certificate Principal Balance of such Class. With respect to the Class XP Certificates, the percentage interest stated thereon. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) the Residual Certificates will be deemed to equal 1.00% (in the aggregate), (ii) the Class B-IO Certificates will be deemed to equal 1.00% and (iii) a Certificate of any other Class will be deemed to equal 98.00% multiplied by a fraction, the numerator of which is the Certificate Principal Balance of such Certificate and the denominator of which is the aggregate Certificate Principal Balance of all the Certificates other than the Class B-IO Certificates. ▇▇▇▇▇▇▇ Mac: ▇▇▇▇▇▇▇ Mac, formerly the Federal Home Loan Mortgage Corporation, and any successor thereto.
Fractional Undivided Interest. With respect to any Class of Certificates other than the Class [ ] Certificates and the Class X Certificates, the fractional undivided interest evidenced by any Certificate of such Class, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the Current Principal Amount of such Class. With respect to the Class [ ] Certificates, the fractional undivided interest evidenced by any Certificate of such Class, the numerator of which is the Class [ ] Notional Amount of such Certificate and the denominator of which is the Class [ ] Notional Amount of such Class. With respect to the Class X Certificates, the fractional undivided interest evidenced by any Certificate of such Class, the numerator of which is the Notional Amount of such Certificate and the denominator of which is the Notional Amount of such Class. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) a Class [ ] Certificate or a Class X Certificate will be deemed to equal [ ]% multiplied by a fraction, the numerator of which is the Class [ ] Notional Amount or the Class X Notional Amount, as the case may be, of such Certificate and the denominator of which is the sum of the Class [ ] Notional Amount and the Class X Notional Amount, (ii) a Class R-1 or Class R-2 Certificate will be deemed to equal [ ]% multiplied by a fraction the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amount of such Classes and (iii) a Certificate of any other Class will be deemed to equal [ ]% (plus an additional [ ]% if and when the Class [ ] and Class X Certificates have been paid in full prior to the date of determination) multiplied by a fraction, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the Current Principal Amount of all the Certificates.
Fractional Undivided Interest. With respect to any Class of Certificates (other than the Class XP Certificates), the fractional undivided interest evidenced by any Certificate of such Class the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the Current Principal Amount of such Class. With respect to the Class XP Certificates, the percentage interest stated thereon. With respect to the Certificates in the aggregate, the fractional undivided interest evidenced by (i) the Residual Certificates will be deemed to equal 1.0% and (ii) a Certificate of any other Class will be deemed to equal 99.0% multiplied by a fraction, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amount of all the Certificates of such Class. ▇▇▇▇▇▇▇ Mac: ▇▇▇▇▇▇▇ Mac, formerly the Federal Home Loan Mortgage Corporation, and any successor thereto. ▇▇▇▇▇▇▇ Mac Guide: The ▇▇▇▇▇▇▇ Mac Selling Guide and the ▇▇▇▇▇▇▇ Mac Servicing Guide and all amendments or additions thereto.
Fractional Undivided Interest. With respect to the Certificates, the fractional undivided interest evidenced by any Certificate, the numerator of which is the Current Principal Amount of such Certificate and the denominator of which is the aggregate Current Principal Amounts of all such Certificates. Freddie Mac: Fred▇▇▇ ▇▇▇ (also ▇▇▇▇▇ as the Federal Home Loan Mortgage Corporation) or any successor thereto.