Available Collection Amount. With respect to any Payment Date, an amount without duplication equal to the sum of: (i) all amounts received on the Home Loans or required to be paid by the Servicer or the Transferor during the related Due Period (exclusive of amounts not required to be deposited by the Servicer in the Collection Account pursuant to Section 5.01(b)(1) hereof and amounts permitted to be withdrawn by the Indenture Trustee from the Collection Account pursuant to Section 5.01(b)(3) hereof) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to section 362 of the United States Bankruptcy Code; (ii) any and all income or gain from investments in the Collection Account, Note Payment Account and Certificate Distribution Account; (iii) upon exercise of optional termination of the Notes pursuant to Section 11.02 hereof, the Termination Price; (iv) the Purchase Price paid for any Home Loans required to be purchased pursuant to Section 3.05 hereof prior to the related Determination Date and the Substitution Adjustment to be deposited in the Collection Account in connection with any substitution, in each case prior to the related Determination Date; and (v) the Capitalized Interest Requirement, if any, with respect to such Payment Date.
Available Collection Amount. With respect to any Payment Date, an amount without duplication equal to the sum of: (i) all amounts received on the Home Loans or required to be paid by the Master Servicer, the Servicer or the Transferor during the related Due Period (exclusive of amounts not required to be deposited in the Collection Account pursuant to Section 5.01(b)(1) hereof and amounts permitted to be withdrawn by the Indenture Trustee from the Collection Account pursuant to Section 5.01(b)(3) hereof); (ii) upon exercise of optional redemption of the Notes and termination of the Issuer pursuant to Section 11.02 hereof, the Termination Price; and (iii) the Purchase Price paid for any Home Loans purchased pursuant to Section 3.05 hereof prior to the related Determination Date and the Substitution Adjustment to be deposited in the Collection Account in connection with any substitution, in each case prior to the related Determination Date.
Available Collection Amount. With respect to each Payment Date, an --------------------------- amount equal to the sum of (a) all amounts received in respect of the Home Loans or paid by the Servicer, the Transferor or the Seller (exclusive of amounts not required to be deposited in the Collection Account) during the related Due Period (and, in the case of amounts required to be paid by the Transferor in connection with the purchase or substitution of a Defective Home Loan, deposited in the Collection Account on or before the related Determination Date), as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Section 362 of the United States Bankruptcy Code, (b) in the case of the Payment Date following the Due Period in which the Funding Period ends, amounts, if any, remaining in the Pre-Funding Account at the end of the Funding Period, (c) with respect to the final Payment Date, or an early redemption or termination of the Securities pursuant to Section 11.02(b), the Termination Price, or in the case of an early redemption or termination of the Securities pursuant to Section 11.02(a), the proceeds from the sale of the Home Loans; and (d) any income or gain from investment of funds on deposit in the Collection Account.
Examples of Available Collection Amount in a sentence
By the close of business on the fourth Business Day prior to each Payment Date, the Master Servicer shall cause the Servicer to withdraw from the Collection Account the Available Collection Amount and deposit such into the Note Payment Account for such Payment Date.
On the second Business Day prior to each Payment Date, the Indenture Trustee (based on information provided by the Servicer for such Payment Date) shall withdraw from the Collection Account the Available Collection Amount as a distribution in respect of the Grantor Trust Certificate pursuant to Section 5.02 of the Grantor Trust Agreement and deposit such into the Note Payment Account for such Payment Date.
On the second Business Day prior to each Distribution Date, the Indenture Trustee (based on information provided by the Servicer for such Distribution Date) shall withdraw from the Collection Account the Available Collection Amount and deposit such into the Note Distribution Account for such Distribution Date.
On the Remittance Date of each month the Servicer shall instruct the Indenture Trustee to withdraw from the Collection Account the Available Collection Amount and deposit such Available Collection Amount into the Note Distribution Account for such month's Distribution Date.
By the close of business on the fourth Business Day prior to each Payment Date, the Master Servicer shall cause the Servicer to withdraw from the Collection Account, the Available Collection Amount for each Class of Notes and deposit such amounts into the Note Payment Account for such Payment Date.
More Definitions of Available Collection Amount
Available Collection Amount means, an amount equal to the sum of: (i) all amounts received on the Home Loans or required to be paid by the Servicer, the Transferor or the Seller during the related Due Period (exclusive of amounts not required to be deposited in the Collection Account and amounts permitted to be withdrawn by the Indenture Trustee from the Collection Account pursuant to Section 5.01(d) of the Sale and Servicing Agreement) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Sectxxx 000 xx xxx Xxxxxx Xxxxxx Xxxkruptcy Code; (ii) in the case of a Distribution Date relating to a Due Period that occurs prior to the end of the Funding Period, an amount from the Capitalized Interest Account sufficient to fund any shortfall in the Interest Distribution Amount attributable to the amounts in the Pre-Funding Account; (iii) in the case of the Pre-Funding Termination Distribution Date, amounts, if any, remaining in the Pre-Funding Account at the end of the Funding Period (net of reinvestment income, which shall be transferred to the Capitalized Interest Account); (iv) with respect to the final Distribution Date or an early redemption or termination of the Offered Securities pursuant to Section 11.02 of the Sale and Servicing Agreement, the Termination Price, and (v) any and all income or gain from investments in the Collection Account.
Available Collection Amount. An amount equal to the sum of: (i) all amounts received on the Home Loans or required to be paid by the Servicer, the Transferor or the Seller during the related Due Period (exclusive of amounts not required to be deposited in the Collection Account and amounts permitted to be withdrawn by the Indenture Trustee from the Collection Account pursuant to Section 5.01(d) of this Agreement) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Sectxxx 000 xx xxx Xxxxxx Xxxxxx Xxxkruptcy Code; (ii) in the case of a Distribution Date relating to a Due Period that occurs prior to the end of the Funding Period, an amount from the Capitalized Interest Account sufficient to fund any shortfall in the Interest Distribution Amount attributable to the amounts in the Pre-Funding Account; (iii) in the case of the Pre-Funding Termination Distribution Date, amounts, if any, remaining in the Pre-Funding Account at the end of the Funding Period (net of reinvestment income, which shall be transferred to the Capitalized Interest Account); (iv) with respect to the final Distribution Date or an early redemption or termination of the Offered Securities pursuant to Section 11.02, the Termination Price, and (v) any and all income or gain from investments in the Collection Account.
Available Collection Amount. With respect to any Distribution Date, an amount equal to the sum of: (i) all amounts received on the Loans or required to be paid by the Servicer or the Depositor during the related Due Period (exclusive of amounts not required to be deposited by the Servicer in the Collection Account pursuant to Section 5.1(b)(1) and amounts permitted to be withdrawn by the Indenture Trustee from the Collection Account pursuant to Section 5.1(b)(3)) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Section 362 of the United States Bankruptcy Code; (ii) with respecx xx xxx xxxxx Xxxxxxxxxxxx Xxxx or an early redemption or termination of the Securities pursuant to Section 11.2, the Termination Price; (iii) the Purchase Price paid for any Loans required to be purchased and the Substitution Adjustment, if any, required to be deposited in the Collection Account in connection with any substitution, in each case pursuant to Section 3.5 and prior to the related Determination Date and (iv) the Capitalized Interest Requirement, if any, with respect to such Distribution Date.
Available Collection Amount. With respect to any Distribution Date, the sum of (a) all amounts received in respect of the Mortgage Loans or paid by the Servicer, the Seller or the Depositor (exclusive of amounts not required to be deposited in the Collection Account) during the related Due Period (and, in the case of amounts required to be paid by the Seller in connection with the purchase or substitution of a Deleted Mortgage Loan, deposited in the Collection Account on or before the related Determination Date), as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Bankruptcy Code, (b) with respect to the final Distribution Date, or an early redemption or termination of the Securities pursuant to Section 8.01(b), the Termination Price, and (c) any income or gain from investment of funds in the Collection Account.]
Available Collection Amount. With respect to any Payment Date, as determined by the Servicer or the Subservicer as of the related Determination Date, an amount without duplication equal to the sum of: (i) all amounts received on the Home Loans or required to be paid by the Servicer, the Subservicer or each Transferor during the related Due Period (exclusive of amounts not required to be deposited by the Servicer or the Subservicer in the Collection Account pursuant to SECTION 5.01(B)(I) hereof and amounts permitted to be withdrawn by the Indenture Trustee from the Collection Account pursuant to SECTION 5.01(B)(III) hereof) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to section 362 of the United States Bankruptcy Code; (ii) any and all income or gain from investments in the Collection Account, Note Payment Account and Certificate Distribution Account; (iii) upon exercise of optional termination of the Notes pursuant to SECTION 11.02 hereof, the Termination Price; and (iv) the Purchase Price paid for any Home Loans purchased pursuant to SECTION 3.05 hereof prior to the related Determination Date and the Substitution Adjustment to be deposited in the Collection Account in connection with any substitution, in each case prior to the related Determination Date.
Available Collection Amount. With respect to a Payment Date, an amount equal to all funds on deposit in the Collection Account on the third Business Day prior to such Payment Date that represent amounts received on the Home Loans or required to be paid by the Servicer or the Seller during the related Due Period (exclusive of (i) any interest payments and proceeds therefrom representing interest received on or after the May 1, 1997 Cut-Off Date and prior to June 1, 1997 and (ii) any amount to be withdrawn by the Indenture Trustee from the Collection Account on such date pursuant to Section 5.01(d) of this Agreement) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Xxxxxxx 000 xx xxx Xxxxxx Xxxxxx Bankruptcy Code.
Available Collection Amount. With respect to any Distribution Date, an amount equal to the sum of: (i) all amounts received on the Mortgage Loans or required to be paid by the Servicer or the Transferor during the related Due Period (exclusive of amounts not required to be deposited by the Servicer in the Collection Account pursuant to Section 5.01(b)(1) and amounts permitted to 2 7 be withdrawn by the Indenture Trustee from the Collection Account pursuant to Section 5.01(b)(3) of this Agreement) as reduced by any portion thereof that may not be withdrawn therefrom pursuant to an order of a United States bankruptcy court of competent jurisdiction imposing a stay pursuant to Sectxxx 000 xx xxx Xxxxxx Xxxxxx Xxxkruptcy Code; (ii) with respect to the final Distribution Date or an early redemption or termination of the Securities pursuant to Section 11.02, the Termination Price; (iii) the Purchase Price paid for any Mortgage Loans required to be purchased pursuant to Section 3.06 prior to the related Determination Date and (iv) the Capitalized Interest Requirement, if any, with respect to such Distribution Date.