Common use of Calculation of Sale Gain or Loss Clause in Contracts

Calculation of Sale Gain or Loss. For Shared-Loss Loans that are not Restructured Loans, gain or loss on the sales under Section 4.1 or Section 4.2 will be calculated as the sale price received by the Assuming Bank less the unpaid principal balance of the remaining Shared-Loss Loans. For any Restructured Loan included in the sale gain or loss on sale will be calculated as (a) the sale price received by the Assuming Bank less (b) the net present value of estimated cash flows on the Restructured Loan that was used in the calculation of the related Restructuring Loss plus (c) Loan principal payments collected by the Assuming Bank from the date the Loan was restructured to the date of sale. (See Exhibit 2d for example calculation). Any gain or loss on Portfolio Sales shall be shared 80% to the Receiver and 20%to the Assuming Bank in the next Monthly Certificate, provided that, if the sale occurs in the Final Shared-Loss Month, an additional Monthly Certificate shall be submitted by the Assuming Bank within one month of the Portfolio Sale.

Calculation of Sale Gain or Loss. For Shared-Loss Loans that are not Restructured Loans, gain or loss on the sales under Section 4.1 or Section 4.2 will be calculated as the sale price received by the Assuming Bank less the unpaid principal balance of the remaining Shared-Loss Loans. For any Restructured Loan included in the sale gain or loss on sale will be calculated as (a) the sale price received by the Assuming Bank less (b) the net present value of estimated cash flows on the Restructured Loan that was used in the calculation of the related Restructuring Loss plus (c) Loan principal payments collected by the Assuming Bank from the date the Loan was restructured to the date of sale. (See Exhibit 2d for example calculation). Any gain or loss on Portfolio Sales Sale shall be shared 80% to the Receiver and 20%to 20% to the Assuming Bank (or 95% to the Receiver and 5% to the Assuming Bank if applicable) in the next Monthly Certificate, provided that, if the sale occurs in the Final Shared-Loss Month, an additional Monthly Certificate shall be submitted by the Assuming Bank within one month of the Portfolio Sale.