Examples of SBA Pool Certificates in a sentence
TALF agent delivers SBA collateral undertaking20 to TALF lender and New York Fed.Third business day before loan settlement date, by 12:00 p.m.• Not required for SBA Pool Certificates.
TALF agent delivers to TALF lender and TALF custodian a revised loan request reflecting any reduction in the requested amount to reflect any reductions in the amount of New Acquisition Collateral19 expected to be delivered on the loan settlement date as a result of actual allocations by the underwriters of the ABS.Fourth business day before loan settlement date, by 5:00 p.m.• Not required for SBA Pool Certificates.
Final deadline for TALF agent to deliver available preliminary offering materials to TALF lender and New York Fed to the extent not previously delivered.• Solely for SBA Pool Certificates.
For Development Company Participation Certificates, offering materials submitted at this time must either contain the security’s weighted average life or include a supplement disclosing the security’s weighted average life.After loan subscription date• Not required for SBA Pool Certificates.
DeadlineRequirementOn loan subscription date, by time specified by the New York Fed on the TALF website• TALF agent submits loan request to TALF lender.• Not required for SBA Pool Certificates.
Each TALF loan had an original maturity of three years, except loans secured by Small Business Administration (SBA) Pool Certificates, loans secured by SBA Development Company Participation Certificates, or ABS backed by student loans or commercial mortgage loans, which had an original maturity of five years if the borrower so elected.
SBA Pool Certificates or Development Company Participation Certificates had an issuance cutoff date of January 1, 2008, and were exempt from the ratings requirements.
DeadlineRequirement contain the security’s weighted average life or include a supplement disclosing the security’s weighted average life.After loan subscription date• Not required for SBA Pool Certificates.
Each TALF loan has a three-year maturity, except loans secured by Small Business Administration (SBA) Pool Certificates, loans secured by SBA Development Company Participation Certificates, or ABS backed by student loans or commercial mortgage loans, which have a five-year maturity if the borrower so elects.
SBA believes that this will provide greater transparency to market participants.This structural change in the pool security will bring SBA Pool Certificates more in line with other U.S. government-backed securities and may be more marketable to potential investors.