PRINCIPAL BALANCE AS OF THE CUT Clause Samples
The "Principal Balance as of the Cut" clause defines the outstanding amount of principal owed on a loan or financial instrument as of a specific cutoff date. In practice, this clause specifies the exact date on which the principal balance is measured, which is important for calculating interest, determining payment obligations, or preparing financial statements. By clearly establishing the principal balance at a set point in time, this clause ensures accuracy in financial reporting and helps prevent disputes over amounts owed.
PRINCIPAL BALANCE AS OF THE CUT. OFF DATE ------------------------------------------------------------------------------------------------------------------------------------ RANGE OF PRINCIPAL REMAINING DEBT PRINCIPAL BALANCE % OF PRINCIPAL TERM TO -TO- MORTGAGE BALANCES AS OF THE NUMBER OF AS OF BALANCE AS OF MATURITY INCOME RATES OLTV CUT-OFF DATE ($) MORTGAGE LOANS THE CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%) ------------------------------------------------------------------------------------------------------------------------------------ 50,000.01 - 100,000.00 4,818 $377,018,521.86 17.82% 342 37.01 8.359 591 74.84 100,000.01 - 150,000.00 4,190 517,462,712.50 24.45 351 38.89 7.599 598 78.51 150,000.01 - 200,000.00 2,574 447,994,407.66 21.17 353 39.63 7.325 602 78.35 200,000.01 - 250,000.00 1,532 342,235,323.09 16.17 356 40.24 7.143 610 78.76 250,000.01 - 300,000.00 975 266,512,827.16 12.59 356 40.49 7.017 613 79.15 300,000.01 - 350,000.00 417 132,534,665.33 6.26 356 40.56 6.954 625 80.90 350,000.01 - 400,000.00 43 15,938,618.41 0.75 358 39.66 7.054 628 79.10 400,000.01 - 450,000.00 21 8,863,536.73 0.42 358 43.14 7.178 649 77.79 450,000.01 - 500,000.00 11 5,315,462.15 0.25 358 41.94 6.852 658 79.11 500,000.01 - 550,000.00 2 1,029,896.79 0.05 357 49.98 7.835 663 81.82 550,000.01 - 600,000.00 2 1,161,352.41 0.05 359 44.39 6.061 745 79.98 ==================================================================================================================================== TOTAL: 14,585 $2,116,067,324.09 100.00% 351 39.28 7.481 604 78.10 ------------------------------------------------------------------------------------------------------------------------------------ STATED REMAINING TERM TO MATURITY ------------------------------------------------------------------------------------------------------------------------------------ PRINCIPAL REMAINING DEBT RANGE OF BALANCE % OF PRINCIPAL TERM TO -TO- MORTGAGE MONTHS NUMBER OF AS OF BALANCE AS OF MATURITY INCOME RATES OLTV REMAINING MORTGAGE LOANS THE CUT-OFF DATE THE CUT-OFF DATE (MONTHS) (%) (%) FICO (%) ------------------------------------------------------------------------------------------------------------------------------------ 60 - 120 46 $ 3,863,006.69 0.18% 118 37.54 7.957 627 66.89 121 - 180 414 41,246,781.38 1.95 178 35.27 7.449 626 73.03 181 - 240 405 46,984,795.34 2.22 238 38.43 7.394 626 75.40 241 - 300 43 5,044,365.06 0.24 298 36.75 7.230 675 74.02 301 - 360 13,677 2,018,928,375.62 95.41 358 39.39 7.483 602 78...