Participation Certificate definition

Participation Certificate means the original participation certificate, if any, that was executed and delivered in connection with a Participation Interest.

Participation Certificate means a participation certificate which evidences the outstanding balance of a Participation Interest.

Participation Certificate. A GNMA Participation Certificate, a FNMA Participation Certificate or a FHLMC Participation Certificate.

Examples of Participation Certificate in a sentence

• The Administrator represents and warrants, as of the date hereof and as of the date any new Participation Certificate is added as Collateral, that Schedule 1, as it may be updated by the Administrator from time to time and delivered to the Indenture Trustee, is a true, complete and accurate list of all Participation Certificates.

• The Issuer shall promptly, but in no event later than two (2) Business Days after a Responsible Officer has obtained actual knowledge thereof, notify the Indenture Trustee of the existence of any Adverse Claim on any Participation Certificate or Trust Estate, and the Issuer shall defend the right, title and interest of each of the Issuer and the Indenture Trustee in, to and under the Participation Certificates and Trust Estate, against all claims of third parties.

• The Issuer hereby covenants and agrees, except for releases specifically permitted hereunder, not to sell, assign (by operation of law or otherwise) or otherwise dispose of, or create or suffer to exist, any Adverse Claim (other than the Security Interest created hereby or any Permitted Liens) upon or with respect to, any Participation Certificate or Trust Property, or any interest in either thereof, or upon or with respect to any Trust Account, or assign any right to receive income in respect thereof.

• Indication of the Issuer’s ownership of a Participation Certificate and the Security Interest of the Indenture Trustee shall be deleted from or modified on such records when, and only when, such Participation Certificate has been paid in full, repurchased, or assigned by the Issuer and released by the Indenture Trustee from its Security Interest.

• As represented by NSM in the PC Repurchase Agreement, immediately prior to the Grant thereof to the Indenture Trustee as contemplated by this Base Indenture, subject to Xxxxxx Xxx Requirements with respect thereto, the Issuer had good and marketable title to each Participation Certificate, free and clear of all Adverse Claims other than any Permitted Liens and rights of others.

More Definitions of Participation Certificate

Participation Certificate. Special Distribution Date" and "Special Record Date."

Participation Certificate means each participation certificate in the form of Exhibit B attached hereto, which evidences the related Participation Interest.

Participation Certificate means a certificate issued by the Servicer to a Participant, substantially in the form of Exhibit E attached hereto, evidencing such Participant’s ownership interest conveyed hereunder.

Participation Certificate. A certificate issued in the name of Purchaser and delivered to Custodian by Seller in connection with each Transaction, substantially in the form attached as an exhibit to the Custodial Agreement, such certificate to evidence the entire (100%) beneficial ownership interest in the related Mortgage Pool.

Participation Certificate means the certificates evidencing 100% of the Participation Interests.

Participation Certificate. With respect to any Junior Interest, an executed certificate, note, instrument or other document representing the participation interest or sub-participation interest granted under a Participation Agreement.

Participation Certificate means the certificate in the form of Exhibit D, evidencing Participation A-1 or Participation A-2.