Examples of P&I Certificates in a sentence
The Trustee, by its execution and delivery hereof, acknowledges the assignment to it of the Grantor Trust I Assets and declares that it holds and will hold such assets in trust for the exclusive use and benefit of all present and future Holders of the Class P-I Certificates.
NIM Security shall mean any net interest margin security issued by an owner trust or special purpose entity that is holding all rights, title and interest in and to the Class X or Class P-I Certificates issued by the Trust Fund.
NIMS Transaction shall mean any transaction in which NIM Securities are secured, in part, by the payments on the Class X or Class P-I Certificates issued by the Trust Fund.
On any Distribution Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the aggregate Current Principal Amounts of all the Group 3 Senior P&I Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Mortgage Loans (other than the PO Percentage) in the related Mortgage Loan Group immediately preceding such Distribution Date.
The rights of Holders of the Class P-I Certificates to receive distributions from the proceeds of such Prepayment Premiums, and all ownership interests of such Holders in and to such distributions, shall be as set forth in this Agreement.
On any Distribution Date, the lesser of (i) 100% and (ii) the percentage (carried to six places rounded up) obtained by dividing the aggregate Current Principal Amounts of all the Group 1 Senior P&I Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Mortgage Loans (other than the PO Percentage) in the related Mortgage Loan Group immediately preceding such Distribution Date.
On any Distribution Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the aggregate Current Principal Amounts of all the Group 5 Senior P&I Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Mortgage Loans (other than the PO Percentage) in the related Mortgage Loan Group immediately preceding such Distribution Date.
In furtherance of such intention, the Trustee shall furnish or cause to be furnished (i) to the Holders of the Offered P&I Certificates and (ii) to the Holder of the Class CE Certificates and shall file or cause to be filed with the Internal Revenue Service together with Form 1041 or such other form as may be applicable, their allocable shares of income and expenses with respect to the property held by the Grantor Trust, at the time or times and in the manner required by the Code.
NIM Security shall mean any net interest margin security issued by an owner trust or special purpose entity that is holding all rights, title and interest in and to the Class 1-X or Class P-I Certificates issued by the Trust Fund.
On any Distribution Date, the lesser of (i) 100% and (ii) the percentage obtained by dividing the aggregate Current Principal Amounts of all Group 2 Senior P&I Certificates immediately preceding such Distribution Date by the aggregate Scheduled Principal Balance of the Mortgage Loans (other than the PO Percentage) in the related Mortgage Loan Group immediately preceding such Distribution Date.