Deficiency Amount definition

Deficiency Amount shall have the meaning set forth for such term in Section 4.03(a) hereof. “Department” shall mean the South Carolina Department of Revenue.

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Deficiency Amount means any amount that is less than the entire amount a Borrower is entitled to receive by way of contribution or subrogation from, but that has not been paid by, the other Borrowers in respect of any Recovery Amount attributable to the Borrower entitled to contribution, until the Deficiency Amount has been reduced to Zero Dollars ($0) through contributions and reimbursements made under the terms of this Section 2.10(e) or otherwise.

Deficiency Amount shall have the meaning specified in Section 4.05.

Examples of Deficiency Amount in a sentence

If the Special Servicer is required to redetermine the Appraisal Reduction Amount or Collateral Deficiency Amount, such redetermined Appraisal Reduction Amount or Collateral Deficiency Amount shall replace the prior Appraisal Reduction Amount or Collateral Deficiency Amount, as applicable, with respect to such Mortgage Loan, Companion Loan or Serviced Whole Loan, as applicable.
Upon reasonable prior written request, the Master Servicer shall use reasonable efforts to assist the Special Servicer in obtaining information reasonably required to calculate or recalculate any Collateral Deficiency Amount with respect to a Non-Serviced Mortgage Loan in the event that the Special Servicer is unsuccessful in obtaining such information from the related Non-Serviced Master Servicer, Non-Serviced Special Servicer or Non-Serviced Trustee.
With respect to any Appraisal Reduction Amount or Collateral Deficiency Amount, as applicable, calculated for purposes of determining (i) the Voting Rights of the related Classes for purposes of removing the Special Servicer or (ii) the Controlling Class, the appraised value of the related Mortgaged Property will be determined on an “as-is” basis.
The Operating Advisor shall review such calculations but shall not opine on or take any affirmative action with respect to such Appraisal Reduction Amount, Collateral Deficiency Amount and/or net present value calculations (except that if the Operating Advisor discovers a mathematical error contained in such calculations, then the Operating Advisor shall notify the Special Servicer of such error).
Instead, the Special Servicer may use the prior Appraisal or valuation, as applicable, in calculating any Appraisal Reduction Amount or Collateral Deficiency Amount with respect to such Mortgage Loan or related Companion Loan or Serviced Whole Loan; provided that the Special Servicer is not aware of any material change to the related Mortgaged Property having occurred and affecting the validity of such Appraisal or valuation.

More Definitions of Deficiency Amount

Deficiency Amount means, at any time of determination, the sum of the Class A Deficiency Amount and the Class B Deficiency Amount.

Deficiency Amount. Not applicable.

Deficiency Amount. The meaning provided in the Note Insurance Policy.

Deficiency Amount. As defined in the Policy.

Deficiency Amount has the meaning specified in Section 5.12(c).

Deficiency Amount. With respect to the Class 1-A-3 Certificates on each Distribution Date, the sum of (i) the Class 1-A-3 Interest Loss Amount for such Distribution Date and (ii) the Class 1-A-3 Principal Loss Amount for such Distribution Date.

Deficiency Amount means as of any Distribution Date, the amount by which (i) the sum of the amounts set forth in Section 4.03(i) though (iv) with respect to such Distribution Date exceeds (ii) the amount of Net Collections (plus amounts transferred from the Prefunding Account representing earnings from investments therein and amounts transferred from the Capitalized Interest Account, in each case to the Payment Account) available with respect to such Distribution Date and the amount on deposit in the Spread Account as of such Distribution Date.