Stripped PCS definition

Stripped PCS means a beneficial interest in the Issuer Trust, having a Liquidation Amount of $1,000 and having the rights provided for Stripped PCS in this Trust Agreement, including the right to receive Distributions and a Liquidation Distribution as provided herein.
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Stripped PCS has the meaning set forth in Recital A.
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Stripped PCS has the meaning specified in the Trust Agreement.
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Examples of Stripped PCS in a sentence

  • The signature to this assignment must correspond with the name as it appears upon the face of the within Stripped PCS Certificates in every particular, without alteration or enlargement or any change whatsoever.

  • TRUST AGREEMENT Section 5.13(d) of the Trust Agreement provides for the procedures pursuant to which Holders of Capital PCS and Stripped PCS may exchange them for Normal PCS and Qualifying Treasury Securities and Section 5.14(f) of the Trust Agreement provides for the procedures pursuant to which Holders of Capital PCS may elect to dispose of Capital PCS in the event a Remarketing is Successful.

  • TRUST AGREEMENT For so long as Stock Purchase Contracts are included within the Trust Property, within five Business Days after the receipt of notice of the Depositor’s exercise of its right to defer Contract Payments, the Property Trustee or the Administrative Trustees shall transmit, in the manner and to the extent provided in Section 12.9, notice of such exercise to the Holders of the Normal PCS and the Stripped PCS, unless such exercise shall have been revoked.

  • Section 5.13(b) of the Trust Agreement provides for the procedures pursuant to which Holders of Normal PCS may exchange Normal PCS and Qualifying Treasury Securities for Stripped PCS and Capital PCS and Section 5.14(d) of the Trust Agreement provides for the procedures pursuant to which TRUST AGREEMENT Holders of Normal PCS may elect to exchange Normal PCS and Qualifying Treasury Securities for Stripped PCS and Capital PCS in the event a Remarketing is Successful.

  • Upon any such termination, the Company shall pay to the Issuer Trust for distribution to the Holders of the Normal PCS and the Stripped PCS all accrued and unpaid Contract Payments.

  • For so long as shares of Preferred Stock are included within the Trust Property, within five Business Days after the receipt of notice of the Depositor’s determination not to pay dividends on a dividend payment date, the Property Trustee shall transmit, in the manner and to the extent provided in Section 12.9, notice of such decision to the Holders of the Normal PCS and Stripped PCS, unless such notice shall have been revoked.

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  • For so long as Stock Purchase Contracts are included within the Trust Property, within five Business Days after the receipt of notice of the Depositor’s exercise of its right to defer Contract Payments, the Property Trustee or the Administrative Trustees shall transmit, in the manner and to the extent provided in Section 12.9, notice of such exercise to the Holders of the Normal PCS and the Stripped PCS, unless such exercise shall have been revoked.

  • For so long as shares of Preferred Stock are included within the Trust Property, within five Business Days after the receipt of notice of the Depositor’s determination not to pay dividends on a TRUST AGREEMENT dividend payment date, the Property Trustee shall transmit, in the manner and to the extent provided in Section 12.9, notice of such decision to the Holders of the Normal PCS and Stripped PCS, unless such notice shall have been revoked.

  • Additionally, in addition to and notwithstanding the foregoing, the Issuer Trustees shall not consent to any amendment to the Statement of Designation or the Depositor’s articles of incorporation that would change the dates on which dividends are payable on the Preferred Stock or the amount of such dividends, without the prior written consent of each Holder of Normal PCS and Stripped PCS.


More Definitions of Stripped PCS

Stripped PCS. Payable on each Regular Distribution Date on or prior to the Stock Purchase Date: • at the rate of .200% per annum, accruing for each Stripped PCS from the Regular Distribution Date immediately preceding its issuance; and • on a cumulative basis.
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Related to Stripped PCS

  • Class A-S Component The Component having such designation.

  • Class X-A Components The Class A-1 Component, Class A-2 Component, Class A-3 Component, Class A-4 Component, Class A-AB Component and Class A-S Component, each of which constitutes a separate class of “regular interests”, within the meaning of Code Section 860G(a)(1), in the Upper-Tier REMIC with a pass-through rate equal to its Class X Strip Rate from time to time and a notional amount equal to its Component Notional Amount from time to time.

  • Class C Component The Component having such designation.

  • Corresponding Classes of Certificates With respect to each REMIC Regular Interest, any Class of Certificates appearing opposite such REMIC Regular Interest in Section 1.03 hereof.

  • Class P Fraction Any Class I-P, Class II-P or Class III-P Fraction, as applicable.

  • Class A-4 Component The Component having such designation.

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Class B-6 Certificates The Certificates designated as “Class B-6” on the face thereof in substantially the form attached hereto as Exhibit A.

  • Principal Component The principal payment plus any interest payments that are either due after the date specified in, or are specified as ineligible for stripping in, the applicable Supplemental Agreement.

  • Net WAC Rate With respect to any Distribution Date (and the related Accrual Period), a per annum rate equal to the weighted average of the Net Mortgage Rates of the Mortgage Loans as of the first day of the related Collection Period (not including for this purpose Mortgage Loans for which prepayments in full have been received and distributed in the month prior to that Distribution Date).

  • Calculated Principal Distribution As defined in Section 5.03(d).

  • Subordinated Principal Distribution Amount As to any Distribution Date and Loan Group, the sum of the following with respect to each Loan Group: (i) the Subordinated Percentage of the applicable Non-PO Percentage of all amounts described in subclauses (a) through (d) of clause (i) of the definition of Non-PO Formula Principal Amount with respect to such Loan Group and such Distribution Date, (ii) with respect to any Mortgage Loan in the related Loan Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, the amount of Liquidation Proceeds allocable to principal received with respect thereto remaining after application thereof pursuant to clause (ii) of the definition of Senior Principal Distribution Amount for that Loan Group, up to the Subordinated Percentage of the applicable Non-PO Percentage of the Stated Principal Balance of such Mortgage Loan, and (iii) the Subordinated Prepayment Percentage of the applicable Non-PO Percentage of the amounts described in subclause (f) of clause (i) of the definition of Non-PO Formula Principal Amount with respect to that Loan Group for such Distribution Date, reduced by the amount of any payments in respect of Class PO Deferred Amounts for such Distribution Date; provided, however, that on any Distribution Date after a Senior Termination Date, the Subordinated Principal Distribution Amount will not be calculated by Loan Group but will equal the amount calculated pursuant to the formula set forth above based on the applicable Subordinated Percentage and Subordinated Prepayment Percentage for the Subordinated Certificates for such Distribution Date with respect to all of the Mortgage Loans as opposed to the Mortgage Loans only in the related Loan Group.

  • Class B-4 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-4 Certificates pursuant to Paragraphs fourteenth, fifteenth, and sixteenth of Section 4.01(a).

  • Class X-1 Strip Rate With respect to any Distribution Date, the amount, if any, by which (i) the Weighted Average Net Mortgage Rate for such Distribution Date exceeds (ii) the sum of the Class LA-1-2-A Component Class X-2 Strip Rate and the Class A-1 Pass-Through Rate for such Distribution Date.

  • Class A-4 Final Distribution Date means the April 2027 Distribution Date.

  • Net WAC Rate Carryover Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the sum of (A) the positive excess of (i) the amount of interest accrued on such Class of Certificates on such Distribution Date calculated at the related Formula Rate, over (ii) the amount of interest accrued on such Class of Certificates at the Net WAC Rate for such Distribution Date and (B) the Net WAC Rate Carryover Amount for the previous Distribution Date not previously paid, together with interest thereon at a rate equal to the Formula Rate for such Class of Certificates for such Distribution Date and for such Accrual Period.

  • Class B Component The Component having such designation.

  • Collateral Senior Minimum Monthly Interest shall have the meaning specified in subsection 4.02(d).

  • Class B-6 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-6 Certificates pursuant to Paragraphs twentieth, twenty-first and twenty-second of Section 4.01(a).

  • Class B-3 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-3 Certificates pursuant to Paragraphs eleventh, twelfth and thirteenth of Section 4.01(a).

  • Class IO Distribution Amount As defined in Section 5.07(f) hereof. For purposes of clarity, the Class IO Distribution Amount for any Distribution Date shall equal the amount payable to the Supplemental Interest Trust on such Distribution Date in excess of the amount payable on the Class IO Interest on such Distribution Date, all as further provided in Section 5.07(f) hereof.

  • Certificate Distribution Amount means, as of any Payment Date, the amount being distributed to the Trust Certificateholders on such Payment Date.

  • Group 1 Certificates As specified in the Preliminary Statement.

  • Daily Settlement Amount for each of the 40 consecutive Trading Days during the Observation Period, shall consist of:

  • Class B-2 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-2 Certificates pursuant to Paragraphs eighth, ninth and tenth of Section 4.01(a).

  • Class B-5 Distribution Amount As to any Distribution Date, any amount distributable to the Holders of the Class B-5 Certificates pursuant to Paragraphs seventeenth, eighteenth, and nineteenth of Section 4.01(a).