Initial Monthly Payment Fund definition

Initial Monthly Payment Fund. An amount representing scheduled principal amortization and interest at the Net Mortgage Rate for the Due Date in the first Due Period commencing subsequent to the Cut-off Date for those Mortgage Loans for which the Trustee will not be entitled to receive such payment, and as more specifically defined in the Series Supplement.

Initial Monthly Payment Fund. As defined in Section 2.01(f).

Initial Monthly Payment Fund. $926 representing scheduled principal amortization and interest at the Net Mortgage Rate payable during the December 2005 Due Period, for those Mortgage Loans for which the Trustee will not be entitled to receive such payment.

Examples of Initial Monthly Payment Fund in a sentence

• The REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund) as a REMIC for federal income tax purposes.

• As provided herein, the REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as a real estate mortgage investment conduit (the "REMIC") for federal income tax purposes.

• The REMIC Administrator will make elections to treat each of REMIC I and REMIC II, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund) as a REMIC for federal income tax purposes.

• As provided herein, the REMIC Administrator will make an election to treat the entire segregated pool of assets described in the definition of Trust Fund, and subject to this Agreement (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), as one or more real estate mortgage investment conduits (each, a "REMIC") for federal income tax purposes.

• The REMIC Administrator will make an election to treat the segregated pool of assets described in the definition of REMIC I (as defined herein) (including the Mortgage Loans but excluding the Initial Monthly Payment Fund), and subject to this Agreement, as a REMIC for federal income tax purposes.

More Definitions of Initial Monthly Payment Fund

Initial Monthly Payment Fund. $145,970, representing scheduled principal amortization and interest at the Net Mortgage Rate during the Due Period ending in July 2002, for those Mortgage Loans for which the Trustee will not be entitled to receive such payment in accordance with the definition of "Trust Fund". The Initial Monthly Payment Fund will not be part of any REMIC.

Initial Monthly Payment Fund. With respect to the Group I Loans, $110,451.21 representing scheduled principal amortization and interest at the Net Mortgage Rate during the month of August 2007, for those Group I Loans for which the Trustee will not be entitled to receive such payment in accordance with the definition of "Trust Fund". The Initial Monthly Payment fund will not be part of any REMIC.

Initial Monthly Payment Fund. $436,505 representing interest at the related Mortgage Rate during the Due Period ending in January 2002, for those Mortgage Loans for which the Trustee will not be entitled to receive such payment in accordance with the definition of "Trust Fund".

Initial Monthly Payment Fund. With respect to the Group I Loans, $0.00, representing scheduled principal amortization and interest at the Net Mortgage Rate payable during the August 2006 Due Period, for those Group I Loans for which the Trustee will not be entitled to receive such payment. With respect to the Group II Loans, $0.00, representing scheduled principal amortization and interest at the Net Mortgage Rate payable during the August 2006 Due Period, for those Group II Loans for which the Trustee will not be entitled to receive such payment.

Initial Monthly Payment Fund. With respect to the Group I Loans, $0, representing scheduled principal amortization and interest at the Net Mortgage Rate payable during the October 2006 Due Period, for those Group I Loans for which the Trustee will not be entitled to receive such payment. With respect to the Group II Loans, $0, representing scheduled principal amortization and interest at the Net Mortgage Rate payable during the October 2006 Due Period, for those Group II Loans for which the Trustee will not be entitled to receive such payment.

Initial Monthly Payment Fund. $[________], representing scheduled principal amortization and interest at the Net Mortgage Rate during the Due Period ending on _________ 200_, for those Mortgage Loans for which the Trustee will not be entitled to receive such payment.

Initial Monthly Payment Fund. $73,622.41 representing interest at the related Mortgage Rate during the Collection Period ending in July 2001, for those Mortgage Loans for which the Trustee will not be entitled to receive such payment in accordance with the definition of "Trust Fund".