Defaulted Mortgage Loan Purchase Price definition

Defaulted Mortgage Loan Purchase Price means the sum, without duplication, of (a) the aggregate Principal Balance of the Senior Notes, (b) accrued and unpaid interest thereon at the Note A Rate, from the date as to which interest was last paid in full by Mortgage Loan Borrower up to and including the end of the interest accrual period relating to the Monthly Payment Date next following the date of purchase, (c) any other amounts due under the Mortgage Loan, other than Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, provided that if the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser, the Defaulted Mortgage Loan Purchase Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) without duplication of amounts under clause (c), any unreimbursed property protection or servicing Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including, without limitation, servicing Advances payable or reimbursable to any Servicer, and earned and unpaid special servicing fees), (e) without duplication of amounts under clause (c), any accrued and unpaid Advance Interest Amount, (f) (x) if the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser or (y) if the Mortgage Loan is purchased after ninety (90) days after such option first becomes exercisable pursuant to Section 12 of this Agreement, any liquidation or workout fees payable under the Securitization Servicing Agreement with respect to the Mortgage Loan and (g) any Recovered Costs not reimbursed previously to a Senior Note pursuant to this Agreement. Notwithstanding the foregoing, if the Note B Holder is purchasing from the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, the Defaulted Mortgage Loan Purchase Price shall not include the amounts described under clauses (d) through (f) of this definition. If the Mortgage Loan is converted into a REO Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on each Senior Note at the Note A Rate as if the Mortgage Loan were not so converted. In no event shall the Defaulted Mortgage Loan Purchase Price include amounts due or payable to the Note B Holder under this Agreement.
Defaulted Mortgage Loan Purchase Price means the sum of the following, without duplication, the sum of (a) the Note Principal Balance of each A Note (as of the date of purchase), (b) accrued and unpaid interest on the Note Principal Balance of each A Note at its Note Interest Rate, up to (but excluding) the date of purchase and if such date of purchase is not a Monthly Payment Date, up to (but excluding) the Monthly Payment Date next succeeding the date of purchase, provided payment is made in good funds by 3:00 p.m. New York local time, (c) any Property Advances that have not been reimbursed from collections on the Mortgage Loan and the related Advance Interest Amount (but excluding any portion of such Property Advance that was made by a Note B Holder and any interest thereon), (d) any interest accrued on any P&I Advance made on any A Note by a party to the Lead Securitization Servicing Agreement or a Non-Lead Securitization Servicing Agreement, as applicable, at the rate specified in the related servicing agreement; (e) any accrued and unpaid Servicing Fees, trustee fees, certificate administrator fees, Special Servicing Fees, Workout Fees, Liquidation Fees and Additional Servicing Compensation, and (f) any unreimbursed Costs incurred by any Note A Holder or any party acting on its behalf (which are not included in the preceding clauses of this paragraph). Subject to the terms of Section 20(h) of this Agreement, the Defaulted Mortgage Loan Purchase Price, in the context of the initial offer for sale of REO Property or a Specially Serviced Mortgage Loan (to a party other than a Note B Holder) pursuant to the terms of Section 20(g) of this Agreement, shall, in addition to the amounts specified in the preceding paragraph, include the sum of (i) the Note B Principal Balance (as of the date of purchase), (ii) the accrued and unpaid interest on the Note Principal Balance of each B Note at its Note Interest Rate, up to (but excluding) the date of purchase and if such date of purchase is not a Monthly Payment Date, up to (but excluding) the Monthly Payment Date next succeeding the date of purchase, provided payment is made in good funds by 3:00 PM, New York local time, (iii) any unreimbursed Property Advances made by a Note B Holder and the related Advance Interest Amount, (iv) any interest accrued on any P&I Advance made by a party to the Lead Securitization Servicing Agreement in respect of a B Note at the rate specified in the Lead Securitization Servicing Agreement; and (v) any unreimbursed Costs...
Defaulted Mortgage Loan Purchase Price means the sum, without duplication, of

Examples of Defaulted Mortgage Loan Purchase Price in a sentence

  • The Defaulted Mortgage Loan Purchase Price shall be calculated by the Selling Noteholder(s) (or the Servicer on its or their behalf) three (3) Business Days prior to the Defaulted Note Purchase Date (and such calculation shall be accompanied by a listing of all amounts included in the Defaulted Mortgage Loan Purchase Price and reasonably detailed back-up documentation explaining how such price was determined), and shall, absent manifest error, be binding upon the Purchasing Noteholder.

  • Upon the delivery of the Noteholder Purchase Notice to the Selling Noteholder(s), the Selling Noteholder shall sell (and the Purchasing Noteholder shall purchase) the Purchased Note(s) at the applicable Defaulted Mortgage Loan Purchase Price, on a date (the “Defaulted Note Purchase Date”) not less than ten (10) days and not more than sixty (60) days after the date of the Noteholder Purchase Notice, as shall be mutually established by the Purchasing Noteholder and the Selling Noteholder(s).

  • The Defaulted Mortgage Loan Purchase Price shall be calculated by the Servicer three (3) Business Days prior to the Repurchase Date (and such calculation shall be accompanied by reasonably detailed back-up documentation explaining how such price was determined).

  • Upon the delivery of the Noteholder Purchase Notice to the Selling Noteholder(s), the Selling Noteholder shall sell (and the Purchasing Noteholder shall purchase) the Purchased Note(s) at the applicable Defaulted Mortgage Loan Purchase Price, on a date (the “Defaulted Note Purchase Date”) not less than ten (10) days and not more than forty-five (45) days after the date of the Noteholder Purchase Notice, as shall be mutually established by the Purchasing Noteholder and the Selling Noteholder(s).

  • The Defaulted Mortgage Loan Purchase Price shall be calculated by the Lead Securitization Noteholder (or the Servicer on its behalf) three (3) Business Days prior to the Defaulted Note Purchase Date (and such calculation shall be accompanied by a listing of all amounts included in the Defaulted Mortgage Loan Purchase Price), and shall, absent manifest error, be binding upon the Junior Noteholder.


More Definitions of Defaulted Mortgage Loan Purchase Price

Defaulted Mortgage Loan Purchase Price means:
Defaulted Mortgage Loan Purchase Price means (i) in connection with the purchase of the A Notes by the Note B Holders, the sum, without duplication, of:
Defaulted Mortgage Loan Purchase Price. (as defined in the Beverly Center A/B/C Intercreditor Agreement) or (B) if the holder of the Beverly Center B Note is the purchasing Beverly Center Subordinate Note Holder, to purchase the Beverly Center Pari Passu Loan and the Beverly Center Companion Loans at the applicable "Defaulted Mortgage Loan Purchase Price" (as defined in the Beverly Center A/B/C Intercreditor Agreement). Upon the delivery of the Beverly Center Subordinate Note Holder Repurchase Notice to the Beverly Center Master Servicer, the Beverly Center Special Servicer, the holders of the other Beverly Center Companion Loans, the Trustee and the Paying Agent, which shall provide such notice to the Special Servicer and the Operating Adviser and, if applicable, the other Beverly Center Subordinate Note Holder, the CSFB 2004-C1 Trustee shall sell (and the applicable Beverly Center Subordinate Note Holder shall purchase) the Beverly Center Senior Loans (including the Beverly Center Pari Passu Loan) and, if applicable, the other Beverly Center Subordinate Note, free and clear of any sub-interests therein or any other liens, claims or encumbrances for the applicable "Defaulted Mortgage Loan Purchase Price" (as defined in the Beverly Center A/B/C Intercreditor Agreement), on a date (the "Beverly Center Repurchase Date") not less than five Business Days nor more than 30 Business Days after the date of the Beverly Center Subordinate Note Holder Repurchase Notice, as shall be established by the Beverly Center Special Servicer and reasonably acceptable to the purchasing Beverly Center Subordinate Note Holder. If more than one Beverly Center Subordinate Note Holder provides a Beverly Center Subordinate Note Holder Repurchase Notice to the Beverly Center Master Servicer and the Beverly Center Special Servicer, then the holder of the Beverly Center C Note shall have the right to consummate the purchase contemplated by this Section 8.30(f), and the Beverly Center Subordinate Note Holder Repurchase Notice delivered by the holder of the Beverly Center B Note shall be deemed revoked and of no further force and effect. The applicable "Defaulted Mortgage Loan Purchase Price" (as defined in the Beverly Center A/B/C Intercreditor Agreement) shall be calculated by the Beverly Center Special Servicer three Business Days prior to the Beverly Center Repurchase Date (and such calculation shall be accompanied by reasonably detailed back-up documentation explaining how such price was determined) and shall, absent manif...
Defaulted Mortgage Loan Purchase Price means, with respect to the exercise of the right to purchase the Note A-1, Note A-2 and, if applicable, Note B-1 pursuant to Section 33 the sum, without duplication, of:
Defaulted Mortgage Loan Purchase Price means the sum, without duplication, of (a) the Principal Balance of Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, and Note A-6, (b) accrued and unpaid interest thereon at the Note A-1 Rate, the Note A-2 Rate, the Note-A-3 Rate, the Note A-4 Rate, the Note A-5 Rate, and the Note A-6 Rate, respectively, from the date as to which interest was last paid in full by Mortgage Loan Borrower up to and including the end of the interest accrual period relating to the Monthly Payment Date next following the date the purchase occurred, (c) any other amounts due under the Mortgage Loan, other than Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, provided that if the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser, the Defaulted Mortgage Loan Purchase Price shall include Prepayment Premiums, default interest, late fees, exit fees and any other similar fees, (d) without duplication of amounts under clause (c), any unreimbursed property protection or servicing Advances and any expenses incurred in enforcing the Mortgage Loan Documents (including, without limitation, servicing Advances payable or reimbursable to any Servicer, and earned and unreimbursed special servicing fees), (e) without duplication of amounts under clause (c), any accrued and unpaid Advance Interest Amount, (f) if (i) the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party is the purchaser or (ii) the Mortgage Loan is purchased after ninety (90) days after the first such option becomes exercisable pursuant to Section 12 of this Agreement, any liquidation or workout fees payable under the Servicing Agreement with respect to the Mortgage Loan and (g) any Recovered Costs not reimbursed previously to Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, or Note A-6 pursuant to this Agreement. Notwithstanding the foregoing, if the Note B Holder is purchasing from the Mortgage Loan Borrower or a Mortgage Loan Borrower Related Party, the Defaulted Mortgage Loan Purchase Price shall not include the amounts described under clauses (d) through (f) of this definition. If the Mortgage Loan is converted into a REO Property, for purposes of determining the Defaulted Mortgage Loan Purchase Price, interest will be deemed to continue to accrue on Note A-1, Note A-2, Note A-3, Note A-4, Note A-5, and Note A-6 at the Note A-1 Rate, the Note A-2 Rate, the Note A-3 Rate, the Note A-4 Rate, the Note A-5 Rate, or the Note A-6 Rate, as applica...
Defaulted Mortgage Loan Purchase Price means, in connection with the purchase of Note A-1-1, Note A-1-2, Note A-2-1, Note A-2-2 and Note A-2-3 by the Note B Holders, the sum, without duplication, of each of the following to the extent that such amounts have not been previously paid or reimbursed pursuant to Section 3 or Section 4 of this Agreement:
Defaulted Mortgage Loan Purchase Price means, with respect to the exercise of the right to purchase the Lead Securitization Note, the Non-Lead Securitization Note Holder and, if applicable, the B-1 Notes pursuant to Section 33 the sum, without duplication, of: