Periodic payment plan certificate definition

Periodic payment plan certificate. ’ means (A) any certificate, investment con- tract, or other security providing for a series of periodic payments by the holder, and rep- resenting an undivided interest in certain specified securities or in a unit or fund of se- curities purchased wholly or partly with the proceeds of such payments, and (B) any secu- rity the issuer of which is also issuing securi- ties of the character described in clause (A) of this paragraph and the holder of which has substantially the same rights and privileges as those which holders of securities of the char- acter described in said clause (A) have upon completing the periodic payments for which such securities provide.
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Periodic payment plan certificate. ’ means (A) any certificate, investment con- tract, or other security providing for a series of periodic payments by the holder, and rep- resenting an undivided interest in certain
Sample 1
Periodic payment plan certificate means (A) any certificate, investment contract, or other security providing for a series of periodic payments by the hold er, and representing an undivided interest in certain specified securities or in a unit or fund of securities purchased wholly or partly with the proceeds of such payments, and (B) any security the issuer of which is also issuing securities of the character described in clause (A) and the holder of which has substantially the same rights and privileges as those which holders of securities of the character described in clause (A) have upon completing the periodic payments for which such securities provide;
Sample 1

Related to Periodic payment plan certificate

  • Periodic Payment means the regularly scheduled amount due for (i) principal and interest under the Note, plus (ii) any amounts under Section 3 of this Security Instrument.

  • Periodic Payments means all installments or similar recurring payments that Borrower may now or hereafter become obligated to pay to Bank pursuant to the terms and provisions of any instrument, or agreement now or hereafter in existence between Borrower and Bank.

  • Direct Account : means any Account which is not an ISA Account.

  • Custodial Account The separate account or accounts created and maintained pursuant to Section 4.04.

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

  • Monthly Payment Date means the Payment Date (as defined in the Mortgage Loan Documents).

  • Settlement Account means an account established at a financial institution designated by Merchant as the account to be credited and debited by the Servicers for Transactions, Card Fees, Chargebacks and other amount assessed by a Card Association and passed- through to Merchant pursuant to the terms of this Agreement.

  • Allocation Certificate shall have the meaning set forth in Section 5.20.

  • Distribution Account means the Bank Account (which may be a current, saving or deposit account) maintained by the Trustee with a Bank as directed by the Management Company in which the amount required for distribution of income to the Unit Holder(s) shall be transferred. Interest, income or profit, if any, including those accruing on unclaimed dividends, in this account shall be transferred to the main account of the Fund from time to time, as part of the Trust Property for the benefit of the Unit Holder(s).

  • Payment Account means a segregated non-interest-bearing corporate trust account maintained by the Property Trustee with the Bank in its trust department for the benefit of the Securityholders in which all amounts paid in respect of the Debentures shall be held and from which the Property Trustee shall make payments to the Securityholders in accordance with Sections 401 and 402.