Residual Securities definition

Residual Securities means interest-only strips, residual interests or reserve certificates issued in connection with a public or private securitization transaction.
Residual Securities means a number of Securities (which number shall not be less than zero), equal to (i) the aggregate outstanding principal amount of the Loans, plus all accrued and unpaid interest and fees and any other amounts due thereunder, as of the date the Rights may no longer be exercised by the recipients of the Rights pursuant to the terms of the Rights Offering, divided by the Subscription Price, minus (ii) the number of Securities validly subscribed for through the exercise of the Rights in accordance with the terms of the Rights Offering (including the exercise of any oversubscription options or privileges).
Residual Securities means the following assets held by ICIFC (each as more fully described in individual files): Prudential Securities Secured Financing Corporation Trust 1995-1 Class R, Prudential Securities Secured Financing Corporation Trust 1994-6 Class R, Southern Pacific Secured Asset Corp. 1995-1 Class R, Southern Pacific Secured Asset Corp. 1995-2, Class R1 and DLJ Mortgage Acceptance Corporation 1995-5 Class RII.

Examples of Residual Securities in a sentence

  • The Residual Securities will be issued in fully registered, certificated form.

  • Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the “Fedwire Book- Entry System”).

  • See “The Trust Assets — The Mortgage Loans” in this Supplement.Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the “Fedwire Book- Entry System”).

  • See Exhibit A to this Supplement for certain information regarding the characteristics of the Mortgage Loans included in the related Underlying Trusts.Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the “Fedwire Book- Entry System”).

  • The Residual Securities will be issued in fully registered, certiÑcated form.

  • See Exhibit A to this Supplement for certain information regarding the characteristics of the Mortgage Loans included in the Underlying Trust.Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the “Fedwire Book- Entry System”).

  • Furthermore, it acknowledges that on the Closing Date, immediately after the transactions described herein, it will be the owner of the Residual Securities, if any, acquired by it for federal tax purposes, and it shall not assert in any proceeding that the transfer of such Residual Securities from the Company to such Underwriter should be disregarded for any purpose.

  • Redwood shall initially retain (i) the AAA IO Senior Securities that are not Underwritten AAA IO Senior Securities, (ii) the Subordinate Securities and (iii) the Residual Securities (the “Redwood Retained Securities”) issued by the Issuing Entity.

  • Issuance of Securities: The Securities, other than the Residual Securities, will initially be issued in book-entry form through the book-entry system of the U.S. Federal Reserve Banks (the ""Fedwire Book-Entry System'').

  • Prospective investors are urged to consult their own tax advisors and consider the after-tax effect of ownership of the Residual Securities and the suitability of the Residual Securities to their investment objectives.


More Definitions of Residual Securities

Residual Securities means, in respect of an Application, Industrial Metal Securitieshaving an aggregate Metal Entitlement equivalent to the weight of LME Physical Metal represented by the Warrants actually delivered to the Issuer in connection with the Application, less the Full Metal Amount and, in respect of a Redemption, the Industrial Metal Securities the subject of the Redemption Form in excess of those having an aggregate Metal Entitlement equivalent to the weight of LME Physical Metal represented by the Warrants allocated by the Issuer for the purposes of such Redemption
Residual Securities shall have the meaning provided in paragraph one hereof.
Residual Securities. PROCEEDS" is (a) the sum of (i) all amounts received by Purchaser as distributions on the Residual Securities, (ii) all net proceeds of any sale of a Residual Security, (iii) all net cash proceeds attributable to any securitization of a Residual Security in a transaction that is not recourse to Purchaser or any affiliate, (iv) amounts and cash flows received by Purchaser from any security the Purchaser receives upon the sale or securitization of a Residual Security (such security, a "SECURITIZED RESIDUAL") but such amounts and cash flows shall be limited to any amounts and cash flows received from such Securitized Residual that are allocable to the Residual Securities (The amount allocable to a Residual Security in such a securitization is to be determined by the Purchaser in its sole discretion) and (v) amounts and cash flows received by the Purchaser in connection with owning or from any sale of whole loans, following the optional termination of the Residual Securities.
Residual Securities means non-rated mortgage-backed securities that receive cash flows consisting of excess interest, and/or release of over-collateralization or reserve funds, or any other type of cash flow including mortgage principal and interest payments, prepayment charges and liquidation proceeds.
Residual Securities means the following assets held by ICIFC (each as more fully described in individual files): Prudential Securities Secured Financing Corporation Trust 1995-1 Class R, Prudential Securities Secured Financing Corporation Trust 1994-6 Class R, Southern Pacific Secured Asset Corp.

Related to Residual Securities

  • Individual Securities shall have the meaning specified in Section 3.01(p).

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).

  • Physical Securities means permanent certificated Securities in registered form issued in denomination of $1,000 Principal Amount and integral multiples thereof.

  • Residual Interests As specified in the Preliminary Statement.

  • Residual Certificates As specified in the Preliminary Statement.

  • NIM Securities As defined in the tenth Recital to this Agreement.

  • Federal Securities means: (a) any direct general obligations of the United States of America (including obligations issued or held in book entry form on the books of the Department of the Treasury of the United States of America), for which the full faith and credit of the United States of America are pledged; (b) obligations of any agency, department or instrumentality of the United States of America, the timely payment of principal and interest on which are directly or indirectly secured or guaranteed by the full faith and credit of the United States of America.

  • Capital Securities means undivided beneficial interests in the assets of the Trust which rank pari passu with Common Securities issued by the Trust; provided, however, that upon the occurrence and continuance of an Event of Default (as defined in the Declaration), the rights of holders of such Common Securities to payment in respect of distributions and payments upon liquidation, redemption and otherwise are subordinated to the rights of holders of such Capital Securities.

  • Trust Preferred Securities any preferred securities issued by a Trust Preferred Securities Subsidiary, where such preferred securities have the following characteristics:

  • Covered Securities means any note, stock, treasury stock, security future, bond, debenture, evidence of indebtedness, certificate of interest or participation in any profit-sharing agreement, collateral-trust certificate, preorganization certificate or subscription, transferable share, investment contract, voting-trust certificate, certificate of deposit for a security, fractional undivided interest in oil, gas, or other mineral rights, any put, call, straddle, option, or privilege on any security (including a certificate of deposit) or on any group or index of securities (including any interest therein or based on the value thereof), or any put, call, straddle, option, or privilege entered into on a national securities exchange relating to foreign currency, or, in general, any interest or instrument commonly known as a "security", or any certificate of interest or participation in, temporary or interim certificate for, receipt for, guarantee of, or warrant or right to subscribe to or purchase any of the foregoing.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Definitive Capital Securities means any Capital Securities in definitive form issued by the Trust.

  • Residual Interest Certificate means any of the Class R-I Certificates, the Class R-II Certificates, the Class R-III Certificates or, if issued in accordance with Section 2.06, the Class R-LR Certificates.

  • Municipal Securities means municipal securities as described under the heading “Portfolio Contents” in the prospectus or other offering document for a Series of RVMTP Shares.

  • Non Book-Entry Capital Securities shall have the meaning set forth in Section 2.05.

  • ETP Securities means the Series of ETP Securities to which these Conditions relates or, as the context may require, any or all securities issued by the Issuer under the Programme.

  • Definitive Capital Securities Certificates means either or both (as the context requires) of (i) Capital Securities Certificates issued as Book-Entry Capital Securities Certificates as provided in Section 5.11, and (ii) Capital Securities Certificates issued in certificated, fully registered form as provided in Section 5.13.

  • Private Certificates As specified in the Preliminary Statement.

  • Preferred Securities has the meaning specified in the first recital of this Indenture.

  • Residual Interest The sole class of "residual interests" in a REMIC within the meaning of Section 860G(a)(2) of the Code.

  • Rule 144A Global Certificates As defined in Section 5.02(c)(ii) of this Agreement.

  • Additional Securities means such Securities which have been deposited pursuant to Section 2.05 to effect an increase over the number of Units initially specified in the Reference Trust Agreement.

  • Purchaser Securities means the Purchaser Units, the Purchaser Common Stock, the Purchaser Preferred Stock and the Purchaser Warrants, collectively.

  • Trust Securities means the Common Securities and the Capital Securities.

  • Exchange Certificates Means the pass through certificates substantially in the form of Exhibit A hereto issued in exchange for the Initial Certificates pursuant to the Registration Rights Agreement and authenticated hereunder.