Interest and Principal Payment Certification definition

Interest and Principal Payment Certification means an Interest and Principal Payment Certification for such Interest Payment Date in substantially the form of Exhibit A, with such changes as agreed to by the Lender and the Borrower; provided that the written objection of the Majority Senior Note Holders has not been received by the Borrower or the Lender on or before the 5th Business Day after a copy thereof has been sent to the Senior Note Holders by the Senior Trustee.
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Interest and Principal Payment Certification means an Interest and Principal Payment Certification for such Interest Payment Date in substantially the form of Appendix E with such changes as agreed to by the Company and MBIA Corp.; provided that the written objection of the Majority Holders has not been received by the Trustee on or before the 5th Business Day after a copy thereof has been sent to the Holders by the Trustee.
Sample 1Sample 2

Examples of Interest and Principal Payment Certification in a sentence

  • If the Company elects to pay interest by treating such amounts as PIK Interest as aforesaid, the Company shall so specify in the Interest and Principal Payment Certification which shall be delivered to the Trustee by no later than 11:00 a.m. New York City time on the third Business Day prior to the Interest Payment Date on which the respective interest payment is due and payable, which certification shall specify the amount of interest that will be payable in cash, if any, and in the form of PIK Interest.

  • Any payments made by the Insurer to the Trustee under the Insurance Policy shall be applied solely to the scheduled payment of the Securities in accordance with the Interest and Principal Payment Certification, and for no other purpose.

  • Any amounts paid by the Insurer to the Trustee shall be deposited into the Distribution Account and shall be paid by the Trustee or the Paying Agent to Holders in respect of the applicable principal and/or interest payment in accordance with the Interest and Principal Payment Certification, in each case, on the later of (i) the related Interest Payment Date and (ii) the Business Day received.

  • The Interest and Principal Payment Certification shall set forth the principal amount of the Securities to be prepaid and the Make-Whole Premium, if any.

  • Subject to Sections 2.14 and 4.12, the Trustee shall pay the amount specified in the Interest and Principal Payment Certification from the Distribution Account to the Holders on such Interest Payment Date.

  • The Interest and Principal Payment Certification shall set forth the principal amount of the Securities to be prepaid and the Make-Whole Premium.

  • Subject to Sections 2.14 and 4.12, the Trustee shall pay the amount specified in the Interest and Principal Payment Certification (as defined in the MBIA Credit Agreement) from the Distribution Account to the Holders on such Interest Payment Date.

  • Subject to any operational limitations of DTC, the Trustee shall repay the principal amount of the Securities and the Make-Whole Premium, if any, as specified in the Interest and Principal Payment Certification, from the Distribution Account to the Holders on such Interest Payment Date; provided that such funds have been deposited to the Distribution Account by 11:00 a.m. New York City time, on such Interest Payment Date.

  • Any funds received by the Trustee as a result of any claim under the Insurance Policy shall be applied by the Trustee directly to the payment in full (to the extent of the proceeds received pursuant to the Insurance Policy) of the scheduled payments due on the Securities in accordance with the Interest and Principal Payment Certification.

  • The Company shall not use any amounts deposited into the Mandatory Prepayment Account in any manner or for any purpose other than for transfer to the Collection Account and/or the Distribution Account in accordance with the relevant Interest and Principal Payment Certification and the MBIA Credit Agreement.

Related to Interest and Principal Payment Certification

  • Final Payment Certificate means the payment certificate issued under Sub-Clause 14.13 [Issue of Final Payment Certificate].

  • Interim Payment Certificate means a payment certificate issued under Clause 14 [Contract Price and Payment], other than the Final Payment Certificate.

  • Certificate Principal means principal payable in respect of the Investor Certificates of any Series pursuant to Article IV of this Agreement.

  • Certificate Principal Amount With respect to any Class of Sequential Pay Certificates or Class PEZ Regular Interest, (a) as of any date of determination on or prior to the first Distribution Date, an amount (adjusted in the case of any Class of Class A-S, Class B and Class C Certificates to take into account any Certificate exchanges pursuant to Section 5.12 of this Agreement from and including the Closing Date up to and including such date of determination) equal to the aggregate initial Certificate Principal Amount of such Class of Sequential Pay Certificates or such Class PEZ Regular Interest, as specified in the Preliminary Statement hereto, and (b) as of any date of determination after the first Distribution Date, an amount (adjusted in the case of any Class of Class A-S, Class B and Class C Certificates to take into account any Certificate exchanges pursuant to Section 5.12 of this Agreement after the Distribution Date immediately prior to such date of determination up to and including such date of determination) equal to the Certificate Principal Amount of such Class of Sequential Pay Certificates or such Class PEZ Regular Interest on the Distribution Date immediately prior to such date of determination, after any actual distributions of principal thereon and allocations of Realized Losses thereto on such prior Distribution Date, and after any increases to such Certificate Principal Amount on such prior Distribution Date (as and to the extent provided in the penultimate sentence of the first paragraph of Section 4.01(f) of this Agreement) in connection with recoveries of Nonrecoverable Advances previously reimbursed out of collections of principal on the Mortgage Loans. The Certificate Principal Amount of the Class PEZ Component A-S shall at all times equal the Class A-S-PEZ Percentage Interest of the Certificate Principal Amount of the Class A-S Regular Interest. The Certificate Principal Amount of the Class PEZ Component B shall at all times equal the Class B-PEZ Percentage Interest of the Certificate Principal Amount of the Class B Regular Interest. The Certificate Principal Amount of the Class PEZ Component C shall at all times equal the Class C-PEZ Percentage Interest of the Certificate Principal Amount of the Class C Regular Interest. The Certificate Principal Amount of the Class PEZ Certificates shall at all times equal the aggregate Certificate Principal Amount of the Class PEZ Components.

  • Class Certificate Principal Balance As to any Class of Certificates, other than any Class of Notional Certificates, and as of any date of determination, the aggregate of the Certificate Principal Balances of all Certificates of such Class. The Class Certificate Principal Balance of each such Class of Certificates as of the Closing Date is specified in Section 5.01(b).

  • Certificate Principal Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Principal Distributable Amount for each Payment Date and any outstanding Certificate Principal Carryover Shortfall as of the close of the immediately preceding Payment Date; provided, however, that the Certificate Principal Distributable Amount shall not exceed the Certificate Balance. In addition, on the Payment Date as of which all of the Receivables are to be purchased pursuant to Section 8.01, the principal required to be deposited into the Certificate Distribution Account will include the amount necessary to reduce the Certificate Balance to zero.

  • Class A-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class A-1 Certificates.

  • Class M-1 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-1 Certificates.

  • Class A Certificate Principal Balance As of any date of determination, the sum of the Class A-1 Certificate Principal Balance, the Class A-2A Certificate Principal Balance, the Class A-2B Certificate Principal Balance, the Class A-2C Certificate Principal Balance, the Class A-2D Certificate Principal Balance and the Class R Certificate Principal Balance.

  • Certificate Principal Balance With respect to each Certificate (other than any Interest Only Certificate), on any date of determination, an amount equal to:

  • Original Class Certificate Principal Balance With respect to the Class A Certificates, the Mezzanine Certificates, the Class C Certificates and the Class P Certificates, the corresponding amounts set forth opposite such Class above in the Preliminary Statement.

  • Initial Certificate Principal Balance With respect to each Class of Certificates, the Certificate Principal Balance of such Class of Certificates as of the Cut-off Date, as set forth in the Series Supplement.

  • Original Certificate Principal Balance With respect to any Class of Certificates, the amount specified for such Class in Section 4.01(d).

  • Class M-2 Certificate Principal Balance As of any date of determination, the aggregate Certificate Principal Balance of the Class M-2 Certificates.

  • Certificate Monthly Principal Distributable Amount means, with respect to any Payment Date, the Certificate Percentage of the Principal Distributable Amount for such Payment Date.

  • Certificate Notional Amount With respect to any Interest Only Certificate, as of any date of determination, the then notional principal amount on which such Certificate accrues interest, equal to the product of (a) the then Certificate Factor for the Class of Interest Only Certificates to which such Certificate belongs, multiplied by (b) the amount specified on the face of such Certificate as the initial Certificate Notional Amount thereof.

  • Class A-6 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-6 and Exhibit C hereto.

  • Payment Certificate means a payment certificate issued under Clause 14 [Contract Price and Payment].

  • Aggregate Certificate Principal Balance At any given time, the sum of the then current Class Principal Balances of the Certificates.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Certificate Interest Distributable Amount means, with respect to any Payment Date, the sum of the Certificate Monthly Interest Distributable Amount for such Payment Date and the Certificate Interest Carryover Shortfall for such Payment Date.

  • Class B-5 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit B-5 and Exhibit C hereto. Class B-5 Certificateholder: The registered holder of a Class B-5 Certificate.

  • Class A-3 Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-3 hereto.

  • Class A-5 Certificate Any one of the Certificates executed by the Trustee and authenticated by the Trustee or the Authenticating Agent in substantially the form set forth in Exhibit A-5 and Exhibit C hereto. Class A-5 Certificateholder: The registered holder of a Class A-5 Certificate.

  • Class A-AB Certificate Any one of the Certificates executed and authenticated by the Certificate Administrator or the Authenticating Agent in substantially the form set forth in Exhibit A-5 hereto.