Bankruptcy Loss Amount definition

Bankruptcy Loss Amount. As of any Distribution Date prior to the first anniversary of the Cut-Off Date, the Bankruptcy Loss Amount will equal $100,000.00 minus the aggregate amount of Bankruptcy Losses allocated solely to the Class B Certificates in accordance with Section 4.02

Bankruptcy Loss Amount. As of any Determination Date prior to the first Anniversary Determination Date, the Bankruptcy Loss Amount shall equal $100,000, as reduced by the aggregate amount of Deficient Valuations and Debt Service Reductions since the Cut-off Date. As of any Determination Date after the first Anniversary Determination Date, other than an Anniversary Determination Date, the Bankruptcy Loss Amount shall equal the Bankruptcy Loss Amount on the immediately preceding Anniversary Determination Date as reduced by the aggregate amount of Deficient Valuations and Debt Service Reductions since such preceding Anniversary Determination Date. As of any Anniversary Determination Date, the Bankruptcy Loss Amount shall equal the lesser of (x) the Bankruptcy Loss Amount as of the preceding Determination Date as reduced by any Deficient Valuations and Debt Service Reductions for the preceding Distribution Date, and (y) the greater of (i) the Fitch Formula Amount for such Anniversary Determination Date and (ii) the Formula Amount for such Anniversary Determination Date. The Bankruptcy Loss Amount may be further reduced by the Company (including accelerating the manner in which such coverage is reduced) provided that prior to any such reduction, the Company shall obtain written confirmation from each Rating Agency that such reduction shall not adversely affect the then-current rating assigned to the related Classes of Certificates by such Rating Agency and shall provide a copy of such written confirmation to the Trustee.

Bankruptcy Loss Amount. As of any Distribution Date, the Initial Bankruptcy Loss Amount less the aggregate amount of Bankruptcy Losses previously incurred during the period from the Cut-Off Date through the last day of the month preceding the month of such Distribution Date; provided, however, that such amount may be reduced from time to time with the written consent of the Rating Agencies provided that such reduction does not result in a downgrading to the current rating of the Certificates. Book-Entry Certificate: All Classes of Certificates other than the Physical Certificates.

Examples of Bankruptcy Loss Amount in a sentence

• The Bankruptcy Loss Amount and the related coverage levels may be reduced or modified upon written confirmation from the related Rating Agencies that such reduction or modification will not adversely affect the then current ratings of the Senior Certificates by the related Rating Agencies (determined without regard to the Policy).

• The Bankruptcy Loss Amount and the related coverage levels may be reduced or modified upon written confirmation from the related Rating Agencies that such reduction or modification will not adversely affect the then current ratings of the Senior Certificates by the related Rating Agencies.

• Bankruptcy Loss Amount: As of any Distribution Date, the Initial Bankruptcy Loss Amount less the aggregate amount of Bankruptcy Losses previously incurred during the period from the Cut-Off Date through the last day of the month preceding the month of such Distribution Date; provided, however, that such amount may be reduced from time to time with the written consent of the Rating Agencies provided that such reduction does not result in a downgrading to the current rating of the Certificates.

• Excess Losses: For any Distribution Date, the amount of any (i) Fraud Losses in excess of the Fraud Loss Amount, (ii) Special Hazard Losses in excess of the Special Hazard Loss Amount or (iii) Bankruptcy Losses in excess of the Bankruptcy Loss Amount.

• A Class A-__ CitiCertificate which evidences $1,000 original Stated Amount.] Initial Bankruptcy Loss Amount.

More Definitions of Bankruptcy Loss Amount

Bankruptcy Loss Amount. As of any Distribution Date and Loan Group, the Initial Bankruptcy Loss Amount for such Loan Group less the aggregate amount of Bankruptcy Losses previously incurred on the Mortgage Loans in such Loan Group during the period from the Cut-Off Date through the last day of the month preceding the month of such Distribution Date; provided, however, that such amount may be reduced from time to time with the written consent of the Rating Agencies provided that such reduction does not result in a downgrading to the current rating of the Certificates of the Related Group.

Bankruptcy Loss Amount. As of any Determination Date prior to the first Anniversary Determination Date, the Bankruptcy Loss Amount shall equal $100,000, as reduced by the aggregate amount of Bankruptcy Losses since the Cut-off Date. As of any Determination Date after the first Anniversary Determination Date, other than an Anniversary Determination Date, the Bankruptcy Loss Amount shall equal the Bankruptcy Loss Amount on the immediately preceding Anniversary Determination Date as reduced by the aggregate amount of Bankruptcy Losses since such preceding Anniversary Determination Date. As of any Anniversary Determination Date, the Bankruptcy Loss Amount shall equal the lesser of (x) the Bankruptcy Loss Amount as of the preceding Determination Date as reduced by any Bankruptcy Losses for the preceding Distribution Date, and (y) the S&P Formula Amount for such Anniversary Determination Date. The Bankruptcy Loss Amount may be further reduced by ICI Funding (including accelerating the manner in which such coverage is reduced) provided that prior to any such reduction, ICI Funding shall obtain written confirmation from each Rating Agency that such reduction shall not adversely affect the then-current rating assigned to the related Classes of Certificates by such Rating Agency and shall provide a copy of such written confirmation to the Trustee.

Bankruptcy Loss Amount. Group I Bankruptcy Loss Amount or Group II Bankruptcy Loss Amount.

Bankruptcy Loss Amount. On each Distribution Date, $100,000, minus the aggregate amount of previous Bankruptcy Losses.

Bankruptcy Loss Amount. With respect to any relevant Series of Bonds, the amount specified in the related Series Supplement, as adjusted from time to time in accordance with such Series Supplement.

Bankruptcy Loss Amount. REMIC: A "real estate mortgage investment conduit" as defined in Code Section 860D. "

Bankruptcy Loss Amount. As of any Determination Date, the Bankruptcy Loss Amount shall equal $100,000 for Mortgage Loan Groups 1 and 2, and $100,000 for each of Mortgage Loan Group 3 and 4, in each case as reduced by the aggregate amount of Bankruptcy Losses with respect to each Mortgage Loan Group (or Mortgage Loan Group 1 and Mortgage Loan Group 2 in the aggregate) since the Cut-off Date. BOOK-ENTRY CERTIFICATES: Initially, all Classes of Certificates other than the Private Certificates and the Residual Certificates. BSMCC: Bear Xxxxxxx Mortgage Capital Corporation.