Net REO Proceeds definition

Net REO Proceeds. As to any REO Mortgage Loan, REO Proceeds net of any related expenses of the Servicer.

Net REO Proceeds. With respect to each REO Property and any related REO Mortgage Loan or REO Companion Loan, REO Proceeds received by the Trust Fund with respect to such REO Property, REO Mortgage Loan or REO Companion Loan (other than the proceeds of a liquidation thereof), net of any insurance premiums, taxes, assessments, ground rents and other costs and expenses permitted to be paid therefrom pursuant to Section 3.16(b) of this Agreement; provided that, in the case of an REO Property that relates to an Outside Serviced Mortgage Loan, “Net REO Proceeds” under this Agreement shall be limited to any REO Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

Net REO Proceeds. With respect to each REO Property and any related REO Mortgage Loan or REO Companion Loan, REO Proceeds with respect to such REO Property, REO Mortgage Loan or REO Companion Loan (other than the proceeds of a liquidation thereof) net of any insurance premiums, taxes, assessments, ground rents and other costs and expenses permitted to be paid therefrom pursuant to Section 3.16(b) of this Agreement.

Examples of Net REO Proceeds in a sentence

• The Master Servicer shall be entitled, at its election, either (a) to pay itself the Servicing Fee out of any Mortgagor payment on account of interest or Net REO Proceeds prior to the deposit of such payment in the Collection Account or (b) to withdraw from the Collection Account such Servicing Fee pursuant to Section 5.04.

• The Servicer shall be entitled, at its election, either (a) to pay itself the Servicing Fee out of any Mortgagor payment on account of interest or Net REO Proceeds prior to the deposit of such payment in the Collection Account or (b) to withdraw from the Collection Account such Servicing Fee pursuant to Section 5.04.

• The Master Servicer shall be entitled, at its election, either (a) to pay itself the Master Servicing Fee out of any Mortgagor payment on account of interest or Net REO Proceeds prior to the deposit of such payment in the Collection Account or (b) to withdraw from the Collection Account such Master Servicing Fee pursuant to Section 5.04.

• REO (a) Sale Proceeds, liquidation expenses and Net REO Proceeds to date, by parcel and in the aggregrate $ 0.00 ------------- (b) Identification of unsold REO parcels $ 0.00 ------------- Please contact the Bondholder Relations Department of U.S. Bank Trust National Association at (612) 224-0444 with any questions regarding this Statement or your Distribution.

• The Master Servicer shall be entitled, at its election, either (a) to pay itself the Master Servicing Fee out of any Mortgagor payment on account of interest or Net REO Proceeds prior to the deposit of such payment in the Collection Account or (b) to withdraw from the Collection Account such Master Servicing Fee pursuant to Section 3(g).

More Definitions of Net REO Proceeds

Net REO Proceeds. With respect to each REO Property, REO Proceeds with respect to such REO Property net of any insurance premiums, taxes, assessments and other costs and expenses permitted to be paid therefrom pursuant to Section 3.17(b).

Net REO Proceeds. As to any REO Disposition, REO Proceeds net of any related expenses of the Servicer.

Net REO Proceeds under this Agreement shall be limited to any REO Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

Net REO Proceeds. Subject to Section 1.2 (iii)(B) and 1.2(v), with respect to each REO Account Property and any Prepayment Period, any amount withdrawn from the REO Account and deposited into the Collection Account pursuant to Section 3.17(d) with respect to such REO Account Property and such Prepayment Period.

Net REO Proceeds. As to any REO Qualified Loan, REO Proceeds net of any related and otherwise unreimbursed expenses of the Central Servicer.

Net REO Proceeds. As to any REO Mortgage Loan, REO Proceeds net of, without duplication, any unpaid Servicing Fees, unreimbursed Periodic Advances and unreimbursed Servicing Advances made by the Servicer. For all purposes of this Agreement, Net REO Proceeds shall be allocated first to accrued and unpaid interest on the related Mortgage Loan and then to the unpaid principal balance thereof.

Net REO Proceeds. With respect to a Mortgaged Property where it is held as REO Property, and any Due Date, any amount withdrawn from the REO Account and deposited into the Collection Account pursuant to Section 3.19(c) with respect to the related Distribution Date.