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Pass-Through Security

A derivative security representing the receivables on some debt. That is, a shareholder of a pass-through security is entitled to a portion of the income from the debt. Generally, a pass-through security has a large number of debts underlying it; for example, a pass-through may represent a portion of several hundred car loans. The most common type of pass-through is a mortgage-backed security.


Landlord operating expenses that can be billed to tenants, either as part of their obligation to pay a pro rata share of operating expenses,their obligation to pay a pro rata share of common area maintenance,or a particular tenant's obligation to pay for goods and services benefiting only that tenant.

References in periodicals archive ?
Installed inside the pass-through for safe operation with flammable materials.
The key to the rapid growth of the market seems to have been the low level of risk of these pass-throughs.
It is also important when evaluating this market to understand that about 94 percent of agency securities carry a fixed-rate coupon and 55 percent of fixed-rate agency securities have been acquired by Fannie Mae and Freddie Mac for the reissuance of multiclass pass-throughs out of Real Estate Mortgage Investment Conduits (REMICs).
Most of our nations small businesses are organized as pass-throughs, meaning that their profits are passed on to their owners and reported on individual tax returns as ordinary income at the end of every tax year.
These unique Pass-Throughs feature all-continuous-seam welds with radius corners to produce ultra-clean, smooth internal surfaces that wipe down quickly and easily.
All three tenants have ten year leases that expire in 2021 and contribute to tax pass-throughs ranging from 25%-70%of the 2010-11 base year which equate lo tax contributions of 120%.
Each desk has a built-in cable trough, cable pass-throughs, and grommets on the desk surface.
Another feature worth mentioning is the EZ-Flex Blade[TM] design, which allows the blades to flatten upon impact for more pass-throughs and better blood trails.
This was offset by lower raw material cost pass-throughs, unfavorable European and Canadian currency movements and higher interest expense related to higher total indebtedness during the first half of fiscal 1998, mainly as a result of recently completed acquisitions.
While the gross issuance of fixed-rate mortgage pass-throughs will decline, net issuance will increase.