Rake Bond definition

Rake Bond. A loan-specific commercial mortgage pass-through certificate or similar security backed by only one of the mortgage loans included in a pooled securitization transaction, typically representing a non-pooled component of the related mortgage loan that is subordinate to the pooled component with respect to the right to receive distributions of collections on such mortgage loan.
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Rake Bond means a CMBS backed solely by a single promissory note secured by a mortgaged property, which promissory note is subordinate in right of payment to one or more separate promissory notes secured by the same mortgaged property.
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Rake Bond. A commercial mortgage-backed security that represents a subordinate interest in a single mortgage loan secured by commercial real estate.
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Examples of Rake Bond in a sentence

  • The assignment of the Rake Bond to the Issuer and the agreements executed in connection therewith constitute the legal, valid and binding assignment of such Rake Bond from the Seller to the Issuer and, upon such assignment, Seller will have validly and effectively conveyed to the Issuer all legal and beneficial interest in and to such Rake Bond free and clear of any and all liens, pledges, encumbrances, charges, security interests or any other ownership interest of any nature.

  • The Rake Bond is a certificated security in registered form, or is in uncertificated form and held through the facilities of (a) The Depository Trust Company in New York, New York, or (b) such other clearing organization or book-entry system.

  • The information pertaining to the Rake Bond set forth on Annex A-1 is true and correct in all material respects as of the date set forth on Annex A-1.

  • Based on the most recently available trustee report, (i) no interest shortfalls have occurred and no realized losses have been applied to the Rake Bond and (ii) the Seller is not aware of any circumstances that are likely to have a material adverse effect on such Rake Bond.

Related to Rake Bond

  • Corporate bond means a senior secured debt obligation issued by a domestic business entity and rated not lower than “AA-” or the equivalent by a nationally recognized investment rating firm. The term does not include a debt obligation that, on conversion, would result in the holder becoming a stockholder or shareholder in the entity, or any affiliate or subsidiary of the entity, that issued the debt obligation, or is an unsecured debt obligation. Gov’t Code 2256.0204(a)

  • Corporate Bonds means debt securities issued by private and public corporations.

  • Revenue bond means any bond, note, or other evidence of

  • Debt bondage means the status or condition of a debtor arising from a pledge by the debtor of his or her personal services or of those of a person under his or her control as a security for debt, if the value of those services as reasonably assessed is not applied

  • Senior Bonds means all Bonds issued as Senior Bonds in compliance with the provisions of the Indenture.

  • government guaranteed bond means a bond of the Government of Canada or a bond unconditionally guaranteed as to principal and interest by the Government of Canada that is:

  • covered bond means a debt security issued by any member of the banking group, for which repayment to holders is guaranteed by a SPV, and investors retain an unsecured claim on the issuer.

  • Subordinate Bonds means all Bonds but Senior Bonds.

  • Reference Bond means for any Reset Period a government security or securities issued by the state responsible for issuing the Specified Currency (which, if the Specified Currency is euro, shall be Germany) selected by the Issuer on the advice of an investment bank of international repute as having an actual or interpolated maturity comparable with the relevant Reset Period that would be utilised, at the time of selection and in accordance with customary financial practice, in pricing new issues of corporate debt securities denominated in the same currency as the Notes and of a comparable maturity to the relevant Reset Period.

  • Bank Bonds means any Bonds purchased with moneys received under the Letter of Credit in connection with a Liquidity Drawing and held by the Tender Agent, or its agent, in each case, for the account of the Issuing Bank.

  • Refunding Bond or “Refunding Bonds” means all or a portion of the

  • Series 2021 Bonds means, collectively, the Series 2021A Bonds and the Series 2021B Bonds.

  • Bonds means any bonds (including refunding bonds), notes, interim certificates, certificates of indebtedness, debentures or other obligations.

  • Global Bond means the Original Global Bond and/or as the context may require any global bond representing any Further Bonds or any of them.

  • Related Bond means, in respect of an Inflation Index, the bond specified as such in the applicable Final Terms. If the Related Bond specified in the applicable Final Terms is "Fallback Bond", then, for any Related Bond determination, the Calculation Agent shall use the Fallback Bond. If no bond is specified in the applicable Final Terms as the Related Bond and "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond. If a bond is specified as the Related Bond in the applicable Final Terms and that bond redeems or matures before the End Date (i) unless "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, the Calculation Agent shall use the Fallback Bond for any Related Bond determination and (ii) if "Fallback Bond: Not Applicable" is specified in the applicable Final Terms, there will be no Related Bond.

  • Performance Bond means the financial security for performance a USF Service Provider must furnish in accordance with section 54 of this RFA;

  • Series 2020 Bonds means the West Virginia Hospital Finance Authority Refunding Revenue Bonds (Thomas Health System, Inc.), Series 2020 A to be issued as a combination of tax-exempt and taxable non-rated fixed rate bonds by the Issuer, subject to its authority and discretion, in the aggregate principal amount of $60,100,000, to (i) refund and retire the Series 2008 Bonds at a discount to the current par amount outstanding, (ii) fund a debt service reserve fund for the Series 2020 Bonds, (iii) fund the Operating Reserve Fund, if necessary, as described in Article IV.C.1 of the Plan and (iv) finance costs of issuance of the Series 2020 Bonds.

  • Surety Bond means a bond from a Bond company with a credit rating by AMBEST better than a “B”. The bonding company shall be certified to issue bonds in a state in which this Agreement is approved.

  • Renewable energy facility means an electric generation unit or other facility or installation that produces electric energy using a Renewable Energy Source.

  • Reference Bond Price means, with respect to any date of redemption, (a) the arithmetic average of the Reference Government Bond Dealer Quotations for such date of redemption, after excluding the highest and lowest such Reference Government Bond Dealer Quotations, or (b) if the Determination Agent obtains fewer than four such Reference Government Bond Dealer Quotations, the arithmetic average of all such quotations;

  • Renewable Energy Certificate or "REC" means a certificate

  • Renewable Energy Certificates or “RECs” means all of the GIS Certificates and environmental benefits associated with New Class I RPS eligible resources.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • Payment Bond is one executed in connection with a contract to assure payment as required by law of all persons supplying labor and material in the execution of the work provided for in the contract.

  • Revenue bonds means revenue bonds authorized to be issued pursuant to this Act.

  • Series 2017 Bonds means, collectively, the Series 2017A Bonds and the Series 2017B Bonds.