Group II Available Funds definition
Group II Available Funds. As defined in Section 7.3(a)(ii) hereof.
Group II Available Funds. With respect to any Distribution Date and the Group II Mortgage Loans, an amount equal to the excess of (i) the sum of (a) the aggregate of the related Monthly Payments received on or prior to the related Determination Date, (b) Liquidation Proceeds, Insurance Proceeds, Principal Prepayments, Subsequent Recoveries and other unscheduled recoveries of principal and interest in respect of the Group II Mortgage Loans during the related Prepayment Period, (c) the aggregate of any amounts received in respect of a related REO Property withdrawn from any Protected Account and deposited in the Master Servicer Collection Account for such Distribution Date, (d) the aggregate of any amounts deposited in the Master Servicer Collection Account by the related Servicer or the Master Servicer in respect of related Prepayment Interest Shortfalls for such Distribution Date and (e) the aggregate of any related Monthly Advances made by the related Servicer or the Master Servicer for such Distribution Date, over (ii) the sum of (a) related amounts reimbursable or payable to the related Servicer or the Master Servicer pursuant to Sections 4.03 and 4.05, (b) related Stayed Funds, (c) related amounts deposited in the Master Servicer Collection Account or the Distribution Account, as the case may be, in error and (d) any Extraordinary Trust Fund Expenses.
Group II Available Funds. With respect to any Distribution Date and the Group II Mortgage Loans, to the extent received by the Trustee (x) the sum of (i) all scheduled installments of interest (net of the related Expense Fees) and principal due on the Due Date on such Group II Mortgage Loans in the related Due Period and received by the related Servicer on or prior to the related Determination Date, together with any Monthly Advances in respect thereof; (ii) all Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and Subsequent Recoveries received by the related Servicer on the Group II Mortgage Loans during the related Prepayment Period (in each case, net of unreimbursed expenses incurred in connection with a liquidation or foreclosure and unreimbursed Advances, if any); (iii) all partial or full prepayments on the Group II Mortgage Loans received by the related Servicer during the related Prepayment Period together with all Compensating Interest paid by the related Servicer in connection therewith (excluding any Prepayment Premiums); (iv) all Substitution Adjustment Amounts with respect to substitutions of Group II Mortgage Loans that occur on or prior to the related Determination Date; (v) all amounts received with respect to such Distribution Date as the Repurchase Price in respect of a Group II Mortgage Loan repurchased on or prior to the related Determination Date; and (vi) the proceeds received with respect to the termination of the Loan Group II pursuant to clause (a) of Section 9.01; reduced by (y) amounts in reimbursement for Advances previously made with respect to the Group II Mortgage Loans and other amounts as to which the related Servicer, the Depositor, the Custodian or the Trustee are entitled to be paid or reimbursed pursuant to this Agreement.
Examples of Group II Available Funds in a sentence
The interest portion of any Realized Losses with respect to the Group I Mortgage Loans or Group II Mortgage Loans occurring on or prior to the Group I Cross-Over Date or Group II Cross-Over Date, respectively, will not be allocated among any Certificates, but will reduce the amount of Group I Available Funds or Group II Available Funds, respectively, on the related Distribution Date.
The amount described in clause (A) of the preceding sentence with respect to each Payment Date is the "Group II Available Funds"; the sum of the amounts described in clauses (A), (B) and (C) of the preceding sentence with respect to each Payment Date is the "Group II Total Available Funds".
The amounts described in the preceding sentence, as determined separately with respect to the Group I Loans, and Group II Loans, with respect to each Distribution Date are the "Group I Available Funds" and "Group II Available Funds" for such Distribution Date.
The amount described in clause (A) of the preceding sentence with respect to each Payment Date is the "Group II Available Funds"; the sum of the amounts described in clauses (A) and (B) of the preceding sentence with respect to each Payment Date is the "Group II Total Available Funds".
The Group II Available Funds Cap Trust shall include the Group II Available Funds Cap Carry-Forward Amount Account which is held by the Trustee in the name of the Group II Available Funds Cap Trust for the benefit of the Owners of the Class A-2 Certificates.
More Definitions of Group II Available Funds
Group II Available Funds means the sum of Interest Funds and Principal Funds relating to Loan Group II.
Group II Available Funds means, with respect to the Group I Notes and the Group II Notes, respectively, and any Distribution Date, any Monthly Servicing Payment Date or any other distribution date pursuant to Section 5.04 of the Indenture, the sum of the following amounts received with respect to the then elapsed portion of the related Collection Period to the extent not previously distributed:
Group II Available Funds. The sum of Interest Funds and Principal Funds with respect to the Mortgage Loans in Loan Group II, and with respect to the first Distribution Date, the Class II-R Deposit which shall be allocable to Subgroup II-1.
Group II Available Funds does not include Insured Payments and does not include any amounts that cannot be distributed to the Owners of the Certificates by the Trustee as a result of proceedings under the United States Bankruptcy Code.
Group II Available Funds. With respect to any Distribution Date, an amount equal to the aggregate of the following amounts with respect to the Mortgage Loans in the related Loan Group: (a) all previously undistributed payments on account of principal (including the principal portion of Scheduled Payments, Principal Prepayments and the principal portion of Net Liquidation Proceeds) and all previously undistributed payments on account of interest received after the Cut-off Date and on or prior to the related Determination Date, (b) any Monthly Advances and Compensating Interest Payments by the Servicers or the Master Servicer with respect to such Distribution Date and (c) any reimbursed amount in connection with losses on investments of deposits in an account, except:
Group II Available Funds. As to any Distribution Date, the sum of (a) the aggregate amount held in the Collection Account at the close of business on the related Servicer Remittance Date and, without duplication, on deposit in the Distribution Account at the close of business on the related Distribution Account Deposit Date, attributable to the Group II Mortgage Loans net of the Amount Held for Future Distribution related to the Group II Mortgage Loans and net of amounts (i) permitted to be withdrawn from the Collection Account pursuant to clauses (i)-(viii) inclusive and clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a), (ii) after giving effect to all amounts deposited to the Distribution Account from the Collection Account, amounts permitted to be withdrawn from the Distribution Account pursuant to clauses (i) through (iv) inclusive of Section 3.10(b) each as it relates to the Group II Mortgage Loans and (iii) any amounts representing Fair Market Value Excess with respect to a Group II Mortgage Loan received in connection with the termination of the Trust Fund pursuant to Section 11.01 hereof, (b) the amount of the Advances related to the Group II Mortgage Loans, and (c) in connection with Deleted Mortgage Loans in Loan Group II, as applicable, the aggregate of the Purchase Prices and Substitution Adjustment Amounts deposited on the related Distribution Account Deposit Date.
Group II Available Funds. With respect to any Distribution Date, the sum of (a) Interest Remittance Amount for Loan Group II for that Distribution Date, (b) the related Closing Date Deposit Amount and (c) the Principal Remittance Amount for Loan Group II for that Distribution Date, net of (d) with respect to Loan Group II, fees payable to, and other amounts reimbursable to, the Trustee, the Master Servicer, the Servicer, the Custodian and the Lender-Paid Insurer allocable to such Loan Group II.