OUTSTANDING CERTIFICATE PRINCIPAL BALANCE definition

OUTSTANDING CERTIFICATE PRINCIPAL BALANCE. With respect to any Class (other than the Class A-X Certificates) of Certificates and any Distribution Date, the Original Certificate Principal Balance of such Class minus the sum of (i) any distributions of principal made on such Class prior to such Distribution Date and (ii) any Realized Losses allocated to such Class prior to such Distribution Date; provided, however, that (I) with respect to the Class of Class B Certificates then outstanding having the highest numerical class designation, the Outstanding Certificate Principal Balance of such Class shall equal the excess of the Mortgage Pool Principal Balance (together with the principal portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the sum of the Outstanding Certificate Principal Balances of all Classes of Certificates (other than the Class of Class B Certificates then outstanding having the highest numerical class designation); and (II) during such time as the Outstanding Certificate Principal Balance of the Class B-1 Certificates equals zero, with respect to the Class M Certificates, the Outstanding Certificate Principal Balance of such Class shall equal the excess of the Mortgage Pool Principal Balance (together with the principal portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the Class A Principal Balance.
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OUTSTANDING CERTIFICATE PRINCIPAL BALANCE. With respect to any Class of Certificates and any Distribution Date, the Original Certificate Principal Balance of such Class minus the sum of (i) any distributions of principal made on such Class prior to such Distribution Date and (ii) any Realized Losses allocated to such Class prior to such Distribution Date; provided, however, that on any Distribution Date on which a Subsequent Recovery is distributed, the Outstanding Certificate Principal Balance of any Class of Certificates then outstanding for which any Realized Loss has been applied will be increased, in order of seniority, by an amount equal to the lesser of (i) the amount the Class of Certificates has been reduced by any Realized Losses which have not been previously offset by any Subsequent Recovery pursuant to this proviso and (ii) the total amount of any Subsequent Recovery distributed on such date to Certificateholders (as reduced (x) by increases in the Outstanding Certificate Principal Balance of more senior Classes of Certificates on such Distribution Date and (y) to reflect a proportionate amount of what would (but for this clause (y)) have been the increases in the Outstanding Certificate Principal Balance of Classes of Certificates of equal seniority on such Distribution Date); provided, further, however, that (I) with respect to the Class of Class B Certificates then outstanding having the highest numerical class designation, the Outstanding Certificate Principal Balance of such Class shall equal the excess of the Mortgage Pool Principal Balance (together with the principal portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the sum of the Outstanding Certificate Principal Balances of all Classes of Certificates (other than the Class of Class B Certificates then outstanding having the highest numerical class designation); and (II) during such time as the Outstanding Certificate Principal Balance of the Class B-1 Certificates equals zero, with respect to the Class M Certificates, the Outstanding Certificate Principal Balance of such Class shall equal the excess of the Mortgage Pool Principal Balance (together with the principal portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the sum of the Outstanding Certificate Principal Balances of all Class A Certificates.
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OUTSTANDING CERTIFICATE PRINCIPAL BALANCE. With respect to any Class (other than the Class A-X Certificates) of Certificates and any Distribution Date, the
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Examples of OUTSTANDING CERTIFICATE PRINCIPAL BALANCE in a sentence

  • ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE AS THE DENOMINATION OF THIS CERTIFICATE.

  • ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

  • THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE.

  • ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN BELOW.

  • BECAUSE SUCH UNPAID INTEREST IS ADDED TO THE PRINCIPAL BALANCE OF THIS CERTIFICATE AND BECAUSE DISTRIBUTIONS IN REDUCTION OF THE PRINCIPAL BALANCE WILL BE MADE IN THE MANNER DESCRIBED IN THE AGREEMENT (AS DEFINED HEREIN), THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE OF THIS CERTIFICATE AT ANY TIME MAY BE MORE OR LESS THAN THE INITIAL CERTIFICATE PRINCIPAL BALANCE REPRESENTED HEREBY.

  • ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE AS THE DENOMINATION OF THIS CERTIFICATE.] ACE SECURITIES CORP.

  • ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN BELOW AS THE DENOMINATION OF THIS CERTIFICATE.

  • ACCORDINGLY, THE OUTSTANDING CERTIFICATE PRINCIPAL BALANCE HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE AS THE DENOMINATION OF THIS CERTIFICATE.FLOATING RATE MORTGAGE PASS-THROUGH CERTIFICATE evidencing a beneficial ownership interest in a Trust Fund (the “Trust Fund”) consisting primarily of a pool of conventional one- to four-family fixed-rate and adjustable-rate first lien mortgage loans (the “Mortgage Loans”) formed and sold by SALOMON BROTHERS MORTGAGE SECURITIES VII, INC.

  • ACCORDINGLY, THE OUTSTANDING [CERTIFICATE PRINCIPAL BALANCE] [NOTIONAL AMOUNT] HEREOF AT ANY TIME MAY BE LESS THAN THE AMOUNT SHOWN ABOVE AS THE DENOMINATION OF THIS CERTIFICATE.


More Definitions of OUTSTANDING CERTIFICATE PRINCIPAL BALANCE

OUTSTANDING CERTIFICATE PRINCIPAL BALANCE then there shall be an equivalent increase in the principal amounts of the Lower-Tier II REMIC Regular Interests, with such increase allocated (before the making of distributions and the allocation of losses on the Lower-Tier II REMIC Regular Interests on such Distribution Date) among the Lower-Tier II REMIC Regular Interests so that (i) each of the Lower-Tier II Marker Classes has a principal balance equal to 50% of the principal balance of the Corresponding Certificates, (ii) the Class LTII-X Interest has a principal balance equal to the sum of (x) 50% of the aggregate Stated Principal Balance of the Mortgage Loans in Mortgage Pool 2 and (y) 50% of the Pool 2 Overcollateralized Amount. Upper-Tier II REMIC The assets of the Upper-Tier II REMIC shall be the Lower-Tier II REMIC Regular Interests. The Upper-Tier II REMIC Regular Interests shall be designated as the regular interests in the Upper-Tier II REMIC and the Residual II Interest shall be designated as the sole class of residual interest in the Upper-Tier II REMIC. The following table sets forth the designation, the initial principal balances, the interest rates and Classes of Related Certificates for each of the interests in the Upper-Tier II REMIC. Class of Related Class Initial Principal Balance Rate Certificates UTII-2AV1 (1) (2) 2-AV1 UTII-2AV2 (1) (2) 2-AV2 UTII-2AV3 (1) (2) 2-AV3 UTII-2F4 (1) (2) 2-F4 UTII-2F5 (1) (2) 2-F5 UTII-2F6 (1) (2) 2-F6 UTII-2F7 (1) (2) 2-F7 UTII-2M1 (1) (2) 2-M1 UTII-2M2 (1) (2) 2-M2 UTII-2M3 (1) (2) 2-M3 UTII-2M4 (1) (2) 2-M4 UTII-2M5 (1) (2) 2-M5 UTII-2M6 (1) (2) 2-M6 UTII-2B1 (1) (2) 2-B1 UTII-2B2 (1) (2) 2-B2 Uncertificated Class 2-CE Interest (3) (3) N/A Residual II Interest (4) (4) N/A
Sample 1
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE. With respect to any Class (other than the Class A-2 and Class A-X Certificates) of Certificates and any Distribution Date, the Original Certificate Principal Balance of such Class minus the sum of (i) any distributions of principal made on such Class prior to such Distribution Date and (ii) any Realized Losses allocated to such Class prior to such Distribution Date; provided, however, that with respect to the Class of Class B Certificates then outstanding having the highest numerical class designation, the Outstanding Certificate Principal Balance of such Class shall equal the excess of the Mortgage Pool Principal Balance (together with the principal portion of any Monthly Payment due but not paid with respect to which an Advance has not been made) over the sum of the Outstanding Certificate Principal Balances of all Classes of Certificates (other than the Class of Class B Certificates then outstanding having the highest numerical class designation).
Sample 1
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE. With respect to any Class (other than the Class A-X Certificates) of Certificates and any Distribution Date, the Original Certificate Principal Balance of such Class minus the sum of (i) any distributions of principal made on such Class prior to such Distribution Date and (ii) any Realized Losses allocated to such Class prior to such Distribution Date; provided, however, that with respect to the Class of Class B Certificates then outstanding having the highest numerical class designation, the Outstanding Certificate Principal Balance of such Class shall equal the excess of the Mortgage Pool Principal Balance (together with the principal portion of any Scheduled Payment due but not paid with respect to which an Advance has not been made) over the sum of the Outstanding Certificate Principal Balances of all Classes of Certificates (other than the Class of Class B Certificates then outstanding having the highest numerical class designation).
Sample 1
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE. With respect to any Class of Certificates and any Distribution Date, the Original Certificate Principal Balance of such Class minus the sum of (i) any distributions of principal made on such Class prior to such Distribution Date and (ii) any Realized Losses allocated to such Class prior to such Distribution Date; provided, however, that (I) with respect to the Class of Class B Certificates then outstanding having the highest numerical Class designation, the Outstanding Certificate Principal Balance of such Class shall equal the excess of (i) the sum of the Group One Non-PO Allocated Amount and the Group Two Non-PO Allocated Amount as of the immediately preceding Distribution Date over (ii) the sum of the Outstanding Certificate Principal Balances of all Classes of Certificates (other than the Class I-PO Certificates, the Class II-PO Certificates and the Class of Class B Certificates then outstanding having the highest numerical Class designation).
Sample 1
OUTSTANDING CERTIFICATE PRINCIPAL BALANCE means, with respect to any certificate, “the Original Certificate Principal balance of such Class …minus the sum of (i) any distributions of principal made on such Class … prior to such Distribution Date and (ii) any Realized Losses allocated to such Class prior to such Distribution Date.”
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Related to OUTSTANDING CERTIFICATE PRINCIPAL BALANCE

  • Certificate Principal Balance With respect to each Certificate (other than any Interest Only Certificate), on any date of determination, an amount equal to:

  • Class A Certificate Principal Balance As of any date of determination, the sum of the Class A-1 Certificate Principal Balance, the Class A-2A Certificate Principal Balance, the Class A-2B Certificate Principal Balance, the Class A-2C Certificate Principal Balance, the Class A-2D Certificate Principal Balance and the Class R Certificate Principal Balance.

  • Aggregate Certificate Principal Balance At any given time, the sum of the then current Class Principal Balances of the Certificates.

  • Class Certificate Principal Balance As to any Class of Certificates, other than any Class of Notional Certificates, and as of any date of determination, the aggregate of the Certificate Principal Balances of all Certificates of such Class. The Class Certificate Principal Balance of each such Class of Certificates as of the Closing Date is specified in Section 5.01(b).

  • Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Original Class Certificate Principal Balance With respect to the Class A Certificates, the Mezzanine Certificates, the Class C Certificates and the Class P Certificates, the corresponding amounts set forth opposite such Class above in the Preliminary Statement.

  • Initial Certificate Principal Balance With respect to each Class of Certificates, the Certificate Principal Balance of such Class of Certificates as of the Cut-off Date, as set forth in the Series Supplement.

  • Aggregate Principal Balance means, with respect to any date of determination, the sum of the Principal Balances for all Receivables (other than (i) any Receivable that became a Liquidated Receivable prior to the end of the related Collection Period and (ii) any Receivable that became a Purchased Receivable prior to the end of the related Collection Period) as of the date of determination.

  • Aggregate Note Principal Balance With respect to the close of a Distribution Date, the sum of the Note Principal Balances for all classes of Notes.

  • Class A Principal Balance As of any date, an amount equal to the sum of the Principal Balances for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-PO Certificates and Class A-R Certificate.

  • Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date.

  • Note A-7 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-7 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.