Reference Obligation definition

Reference Obligation means an obligation used for the purposes of determining the cash settlement value of a credit derivative;

Reference Obligation means the Standard Reference Obligation, if any, unless:

Reference Obligation means each obligation specified as such in the Final Terms or any Substitute Reference Obligation (as defined in the Credit Linked Derivatives Annex).

Examples of Reference Obligation in a sentence

• With respect to any Reference Obligation, a forbearance or mortgage rate modification relating to such Reference Obligation.

• For the avoidance of doubt, any Reference Obligation with minor technical violations or missing documentation, which in each case Freddie Mac determines to be an acceptable Reference Obligation, will not result in an Unconfirmed Underwriting Defect.

• For the avoidance of doubt, any Reference Obligation with minor technical violations or missing documentation, which in each case Xxxxxxx Mac determines to be an acceptable Reference Obligation, will not result in an Unconfirmed Underwriting Defect.

• With respect to each Payment Date, a Reference Obligation formerly in the Reference Pool that became a Credit Event Reference Obligation in a prior Reporting Period that is found in the related Reporting Period, through Xxxxxxx Mac’s quality control process, to have an Underwriting Defect, Major Servicing Defect or a data correction that invalidates the previously determined Credit Event.

• With respect to each Payment Date, a Reference Obligation formerly in the Reference Pool that became a Credit Event Reference Obligation in a prior Reporting Period that is found in the related Reporting Period, through Freddie Mac’s quality control process, to have an Underwriting Defect, Major Servicing Defect or a data correction that invalidates the previously determined Credit Event.

More Definitions of Reference Obligation

Reference Obligation means each obligation specified or of a type described as such in the applicable Final Terms (if any are so specified or described) and any Substitute Reference Obligation.

Reference Obligation means each obligation specified as such or of a type described in the applicable Final Terms and any Substitute Reference Obligation.

Reference Obligation means the portion specified by the applicable Reference Obligation Percentage of each certain multifamily mortgage loan, deed of trust or similar security instrument encumbering the related mortgaged property that meets the Eligibility Criteria, as described under “Scaled Cut-Off Balance” in Appendix A to the Preliminary PPM and Final PPM, and collectively, the “Reference Obligations”.

Reference Obligation means (a) the Reference Obligation specified in the Issue Terms and (b) any Substitute Reference Obligation.

Reference Obligation means, in respect of each Reference Entity:

Reference Obligation means the Reference Obligation of the relevant Reference Entity, as specified in § 17 of the Product Data, or, if the Issuer made a notification pursuant to § 12 regarding an equally ranked obligation (the "Replacement Reference Obligation") the Replacement Reference Obligation.

Reference Obligation means a debt obligation to which a Synthetic Security is linked that satisfies the Eligibility Criteria.