Substitution Adjustment Amount Clause Samples
The Substitution Adjustment Amount clause defines the method for calculating any financial adjustment required when a party substitutes collateral or assets under an agreement. Typically, this clause outlines how the value difference between the original and replacement assets is determined and specifies the payment or credit due to account for this difference. For example, if a party replaces pledged securities with others of a different value, the adjustment amount ensures both parties remain in an equivalent financial position. Its core function is to maintain fairness and balance in the agreement by preventing either party from gaining or losing value through asset substitution.
Substitution Adjustment Amount. The meaning ascribed to such term pursuant to Section 2.03.
Substitution Adjustment Amount. I-30 Support Classes . . . . . . . . . . . . . . . . . . . . . . . . . I-30 Targeted Balance . . . . . . . . . . . . . . . . . . . . . . . . . I-30 Targeted Principal Classes . . . . . . . . . . . . . . . . . . . . I-30
Substitution Adjustment Amount. I-25 Support Classes . . . . . . . . . . . . . . . . . . . . . . . . . I-25
Substitution Adjustment Amount. The meaning ascribed to such term pursuant to Section 2.03. Tax Matters Person ------------------ The person designated as "tax matters person" in the manner provided under Treasury regulation ss.1.860F-4(d) and temporary Treasury regulation ss.301.6231(a)(7)-1T. Initially, the Tax Matters Person shall be the Trustee. Tax Matters Person Certificate ------------------------------ The Class R Certificate with a Denomination of .00001%. Transfer -------- Any direct or indirect transfer or sale of any Ownership Interest in a Class R Certificate. Transfer Affidavit ------------------ As defined in Section 5.02(c). Transferor Certificate ---------------------- As defined in Section 5.02(b). Trustee ------- JPMorgan Chase Bank and its successors and, if a successor trustee is appointed hereunder, such successor. Trustee Fee ----------- As to any Distribution Date, an amount equal to one-twelfth of the Trustee Fee Rate multiplied by the Pool Principal Balance as of such Distribution Date. Trustee Fee Rate ---------------- With respect to each Loan, 0.02% per annum. Trust Fund ---------- The corpus of the trust created hereunder consisting of (a) the Loans and all interest and principal received, or receivable, on or with respect thereto after the Cut-off Date to the extent not applied in computing the Cut-off Date Principal Balance thereof and all interest and principal payments on such Loans received prior to the Cut-off Date in respect of installments of interest and principal due thereafter; (b) the Certificate Account, the Distribution Account, the Net WAC Cap Account, the Reserve Fund and all amounts deposited therein pursuant to the applicable provisions of this Agreement; (c) property that secured a Loan and has been acquired by foreclosure, deed-in-lieu of foreclosure or otherwise; (d) the Policy; (e) the Yield Maintenance Agreement; and (f) all proceeds of the conversion, voluntary or involuntary, of any of the foregoing. Underwriter Exemption --------------------- Prohibited Transaction Exemption 2000-58, 65 Fed. Reg. 67765 (2000), as amended (or any successor thereto). Voting Rights ------------- The portion of the voting rights of all of the Certificates, which is allocated to any Certificate. As of any date of determination, (i) the Class AF and Class AV-1 Certificates shall be allocated 99% of all Voting Rights and (ii) the Class A-IO Certificates shall be allocated 1% of all Voting Rights. The Voting Rights allocated to each Class of the Class AF Ce...
Substitution Adjustment Amount. I-34 Substitution Date................................................I-34 Supplemental Mortgage Loan Schedule..............................I-34 Targeted Principal Classes.......................................
Substitution Adjustment Amount. As to any Defective Home Equity Loan and the date on which a substitution thereof occurs pursuant to Sections 2.02 or 2.04, the sum of:
Substitution Adjustment Amount. I-30 Support Classes.........................................................I-30
Substitution Adjustment Amount. I-28 Targeted Balance......................................................I-28 Targeted Principal Classes............................................I-28 Tax Matters Person....................................................I-28 Tax Matters Person Certificate........................................I-28 Transfer..............................................................I-28 Trust Fund............................................................I-28 Trustee...............................................................I-29 Trustee Fee...........................................................I-29 Trustee Fee Rate......................................................I-29
Substitution Adjustment Amount. The meaning ascribed to such term pursuant to Section 2.03. The account established and maintained by the Trustee pursuant to Section 3A.01. The letter agreement dated as of May 30, 2007 (including the ISDA Master Agreement, the Schedule and the Credit Support Annex incorporated by reference therein) which letter agreement constitutes a “Confirmation” as referenced therein bearing the reference number N615392N, relating to the Transaction thereunder, by and between the Swap Counterparty and the Trustee not in its individual capacity, but solely as trustee of the External Trust relating to the Popular ABS, Inc. Mortgage Pass-Through Certificates, Series 2007-A. As to the Class B-1 Certificates and as of any Distribution Date, the lesser of (a) the Swap Unpaid Realized Loss Amount for the Class B-1 Certificates as of that Distribution Date and (b) the excess of (i) the Swap Distribution Amount over (ii) the sum of the amounts described in clauses (i) through (xxxvi) of Section 4.02(e) for that Distribution Date.
Substitution Adjustment Amount. I-31 Support Classes...........................................................................I-31 Targeted Balance..........................................................................I-31 Targeted Principal Classes................................................................I-31