Examples of Interest Only Certificate in a sentence
The total amount of interest distributed on or added to the Certificate Principal Balance of any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date.
The total amount of interest distributed on or added to the principal of any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date.
Interest accrued on any Certificate of a Series during any Interest Accrual Period shall be distributable on the following Distribution Date for such Series at the Certificate Interest Rate applicable to such Certificate applied to the Certificate Principal Balance or, in the case of an Interest Only Certificate, the Notional Principal Balance thereof.
The total amount of interest distributed on any Trust Fund Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date.
The total amount of interest distributed in respect of any interest bearing Certificate on any Distribution Date shall be equal to one month’s interest at the applicable Certificate Interest Rate on the Certificate Principal Balance (or, in the case of an Interest Only Certificate, on the Notional Principal Balance) of such Certificate immediately prior to such Distribution Date.