Examples of Group II Loan in a sentence
The Agreement permits, but does not require, the party designated in the Agreement to purchase all the Group II Loans and all property acquired in respect of any Group II Loan at a price determined as provided in the Agreement.
Xxxxx Fargo Bank, N.A. will act as master servicer of the Group II Loan (the “Master Servicer”, which term includes any successors thereto under the Agreement referred to below).
Any losses incurred with respect to any individual Group II Loan following an Amortization Event shall be allocated on a pro rata basis between the Issuer and the Seller, based on the Loan Balance and the Excluded Amount thereof as of the date of liquidation of such Group II Loan.
Following an Amortization Event, on any Payment Date, with respect to the related Collection Period, all Interest Collections and Principal Collections in respect of each individual Group II Loan shall be allocated on a pro rata basis as between the Issuer and the Seller, based on the relative proportions of the Loan Balance and the Excluded Amount, respectively, as of the end of the calendar month immediately prior to such Collection Period.
In connection with such registration statement and related prospectus, the Seller shall provide the Purchaser with an updated Group I Loan Schedule or Group II Loan Schedule and all other information reasonably necessary to assure that the statements in the prospectus with respect to the Home Equity Loans and the Seller (including in its capacity as servicer of the Home Equity Loans) are complete and correct in all material respects as of the date of sale of such Capped Funding Notes by the Seller.