PATENT CLAIM ANALYSIS

Application Number: 15879244
Application Type: Utility
Filing Date: 2018-01
Publication Date: 2019-03
Patent Classification: ["705", "037000"]

Abstract:
The disclosure relates to structures and methods for securitization of tax-exempt bonds and loans by a non-municipal originator. The structures and methods are constructed in such a way to create tax-exempt status for the interest on newly-issued debt instruments, thereby enhancing the efficiency of prior financial structures and mechanisms. The methods involve an issuer authorized to issue tax-exempt bonds issuing debt instruments secured and paid by pooled tax-exempt bonds and/or loans purchased from a non-municipal entity. The issuer or another municipality retains an equity interest in the pooled bonds.

Claim (Index 1):
A method for managing securitization of tax-exempt bonds, the method comprising:\n enabling one or more non-municipal originators to sell one or more tax-exempt bonds to a municipality for a purchase price no later than the purchase closing date; assigning the purchased tax-exempt bonds to a pool to be held in trust for the benefit of the holders and beneficial owners of a STEMP series; generating a proposed STEMP series including at least one equity tranche and at least one debt tranche, the proposed STEMP series; defining the trust estate to be used to secure and pay the STEMP series as including the pool of purchased tax-exempt bonds held in trust for the benefit of the holders and beneficial owners of the STEMP series, defining the par value for each equity and debt tranche, defining a hierarchy among the equity and debt tranches, the hierarchy specifying entitlement of each equity and debt tranche to proceeds derived from the pooled bonds, the equity tranche being entitled to the residuum which remains after entitlements to the proceeds have been satisfied for all debt trenches, and including a sale price for each equity and debt tranche, the sum of the sale prices for all tranches being the issue price; enabling at least one non-municipal investor to purchase, at the corresponding sale price, at least a portion of at least one debt tranche not later than a sale closing date; obligating at least one municipal investor to purchase or retain at least a portion of at least one equity tranche not later than the sale closing date; and selecting an issuer authorized to issue tax-exempt bonds and enabling the issuer to issue the STEMP series to the municipal and non-municipal investors, not later than an issue closing date.

Metadata:
- Claim Count in Document: 59.0
- Percentile: 86.0
- Lexical Diversity: 1.67857
- Patent Class: 705.0
- Transitional Phrase Type: open
- Component Type: 1
- Foreign Priority: False
- Related Applications: ['11888965', '11679607', '10112640', '10677172', '10990160']

Analysis Scores:
- 35 USC 101 Eligibility (BERT): 0.1159256344825706
- 35 USC 102 Novelty (BERT): 0.5342963083117327
- Combined Prediction Score: 0.1577627018654868
- Mean Citation Score: 335.655552
- Max Citation Score: 364.98444
- Similarity Product: 279.58662074360853

Labels:
- Claim Label 101: 0
- Claim Label 102: 1
- Claim Label 103: 1
- Claim Label 112: 1
- Combined Label: 0
- Label 101 Adjusted: 0

Dataset: test