underlying interest definition

underlying interest means, for a derivative, the security, commodity, financial instrument, currency, interest rate, foreign exchange rate, economic indicator, index, basket, agreement, benchmark or any other reference, interest or variable, and, if applicable, the relationship between any of the foregoing, from, to or on which the market price, value or any payment obligation of the derivative is derived, referenced or based; and

underlying interest means, for a specified derivative, the security, commodity, financial

underlying interest means the assets, liabilities, other interests or a combination thereof underlying a derivative instrument, such as any one or more securities, currencies, rates, indices, commodities or derivative instruments.

Examples of underlying interest in a sentence

• Each Grantor Trust Certificate represents a beneficial interest in a Grantor Trust holding the related Underlying Interest and certain other assets for the benefit of the Grantor Trust Certificates.

• None of this Certificate, the Underlying Interest and the Swap Agreement are guaranteed or insured by any governmental agency or instrumentality or by Depositor, the Master Servicer, the Trust Administrator, Citibank, N.A., the Trustee or the Grantor Trustee or any of their affiliates.

• Prior to a Swap Event of Default, a Swap Termination Event or a Swap Additional Termination Event, any amount owed to the Class III-A-1-1 Underlying Interest in respect of any Net Rate Shortfall Carryforward Amounts shall be distributed to the Swap Provider.

• The Class III-A-1-1 Certificates are hereby designated as undivided beneficial interests in the portion of the Trust Fund consisting of the Class III-A-1-1 Underlying Interest, and the Interest Rate Swap Agreement, which portion shall be treated as a grantor trust within the meaning of subpart E, Part I of subchapter J of the Code.

• The Trustee shall not permit the creation of any “interests” (within the meaning of Section 860G of the Code) in any REMIC created hereunder other than the REMIC 1 Regular Interests, Class III-A-1-1 Underlying Interest, Class C Interest, Class P Interest and the Certificates.

More Definitions of underlying interest

underlying interest means the assets, other interests, or a combination thereof, underlying a financial instrument, such as any one or more securities, currencies, rates, indices, commodities or financial instruments.

underlying interest means the assets, liabilities, other interests or a

underlying interest means an asset, liability, or other interest underlying a derivative instrument or a combination of those assets, liabilities, or other interests. The term includes a security, currency, rate, index, commodity, or derivative instrument.

underlying interest means the assets, liabilities, other

underlying interest means the assets, liabilities, other interests, or a combination of assets, liabilities, or other interests underlying a derivative instrument such as any 1 or more securities, currencies, rates, indices, commodities, or derivative instruments.

underlying interest means Government of Canada Bonds, which meet the criteria established in Section C-1602 of this rule.

underlying interest. – means an asset which underlies and determines the value of a Derivative Instrument or of an OTCI. The Underlying Interest may be a commodity or a financial instrument such as a stock, a bond, a currency, a stock or economic index or any other asset.