Excess Bankruptcy Loss definition

Excess Bankruptcy Loss. Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

Excess Bankruptcy Loss. With respect to any Distribution Date and any Mortgage Loan as to which a Bankruptcy Loss is realized in the month preceding the month of such Distribution Date, (i) if the Aggregate Current Bankruptcy Losses with respect to such Distribution Date exceed the then-applicable Bankruptcy Loss Amount, then the portion of such Bankruptcy Loss represented by the ratio of (a) the excess of the Aggregate Current Bankruptcy Losses over the then-applicable Bankruptcy Loss Amount, divided by (b) the Aggregate Current Bankruptcy Losses or (ii) if the Aggregate Current Bankruptcy Losses with respect to such Distribution Date are less than or equal to the then-applicable Bankruptcy Loss Amount, then zero. In addition, any Bankruptcy Loss occurring with respect to a Mortgage Loan on or after the Cross-Over Date will be an Excess Bankruptcy Loss.

Excess Bankruptcy Loss. Not applicable.

Examples of Excess Bankruptcy Loss in a sentence

• Excess Bankruptcy Loss: Any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

• Any Extraordinary Losses and Excess Bankruptcy Losses (other than Debt Service Reductions) with respect to the Group I Loans shall be allocated among the Group I Senior Certificates, Class I-M Certificates and Class I-B Certificates on a pro rata basis; provided that the related Discount Fraction of the principal portion of an Extraordinary Loss or an Excess Bankruptcy Loss on a related Discount Mortgage Loan shall be allocated to the Class I-A-P Certificates.

• Any Extraordinary Losses and Excess Bankruptcy Losses (other than Debt Service Reductions) with respect to the Group II Loans shall be allocated among the Group II Senior Certificates, Class II-M Certificates and Class II-B Certificates on a pro rata basis; provided that the related Discount Fraction of the principal portion of an Extraordinary Loss or Excess Bankruptcy Loss on a related Discount Mortgage Loan shall be allocated to the Class II-A-P Certificates.

• Group I Excess Loss: Any (i) Group I Excess Fraud Loss, Group I Excess Special Hazard Loss, Group I Excess Bankruptcy Loss or Group I Extraordinary Loss or (ii) any Excess Realized Loss on a Group I Loan.

• Any Extraordinary Losses and Excess Bankruptcy Losses (other than Debt Service Reductions) with respect to the Group II Loans shall be allocated among the Group II Senior Certificates, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates on a pro rata basis; provided that the related Discount Fraction of the principal portion of an Extraordinary Loss or an Excess Bankruptcy Loss on a related Discount Mortgage Loan shall be allocated to the Class II-A-P Certificates.

More Definitions of Excess Bankruptcy Loss

Excess Bankruptcy Loss. Any Deficient Valuation or Debt Service Reduction, or portion thereof, (i) occurring after the Bankruptcy Coverage Termination Date or (ii) if on such date, in excess of the then-applicable Bankruptcy Loss Amount.

Excess Bankruptcy Loss. Any Bankruptcy Loss, or portion thereof (i) occurring after the Bankruptcy Coverage Termination Date or (ii) if on or prior to such date, in excess of the then-applicable Bankruptcy Loss Amount.

Excess Bankruptcy Loss. With respect to the Mortgage Loans, any Bankruptcy Loss on the Mortgage Loans, or portion thereof, which exceeds the then-applicable Bankruptcy Amount.

Excess Bankruptcy Loss. With respect to either Collateral Pool, any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount.

Excess Bankruptcy Loss. With respect to Loan Group I or Loan Group II, any Bankruptcy Loss, or portion thereof, which exceeds the then applicable Bankruptcy Amount for Loan Group I or Loan Group II, as applicable.

Excess Bankruptcy Loss. With respect to a Series of Bonds and any Payment Date in respect thereof on which a Bankruptcy Loss or Bankruptcy Losses is or are allocable to the Bonds of such Series, the amount, if any, by which such Bankruptcy Loss or Bankruptcy Losses exceeds or exceed the applicable Bankruptcy Loss Amount (excluding the principal portion of any Debt Service Reductions that would otherwise be included in such excess amount).

Excess Bankruptcy Loss. Any Bankruptcy Loss, or portion thereof, which exceeds the then-applicable Bankruptcy Amount.