Liquidation Loss definition

Liquidation Loss. With respect to any Liquidated Mortgage Loan, the excess of (a) the sum of (i) the outstanding principal balance of such Mortgage Loan, (ii) all accrued and unpaid interest thereon, and (iii) the amount of all Advances and other expenses incurred with respect to such Mortgage Loan (including expenses of enforcement and foreclosure) over (b) Liquidation Proceeds realized from such Mortgage Loan.

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Liquidation Loss has the meaning set forth in the definition of Net Termination Loss.

Liquidation Loss means, with respect to any Defaulted Contract, the amount, if any, by which (a) the Required Payoff Amount for such Defaulted Contract as of the date such Contract became a Defaulted Contract exceeds (b) that portion of the Liquidation Proceeds for such Defaulted Contract allocated to the Issuer.

Examples of Liquidation Loss in a sentence

On each Payment Date, the Overcollateralization Amount available to cover any Liquidation Loss Amounts on such Payment Date shall be deemed to be reduced by an amount equal to such Liquidation Loss Amounts (except to the extent that such Liquidation Loss Amounts were covered on such Payment Date by a payment in respect of Liquidation Loss Amounts).
If the Master Servicer so elects, such amounts will be deemed to have been received (and any related Liquidation Loss Amount shall be deemed to have occurred) on the last day of the month prior to the receipt thereof.
For purposes of the foregoing, required payments of principal on the Notes on each Payment Date will include the portion allocable to the Notes of all Liquidation Loss Amounts for such Payment Date and for all previous Collection Periods until paid or covered in full, to the extent not otherwise covered by a Liquidation Loss Distribution Amount or a draw on the Policy (up to the outstanding Note Balance).
Liquidation Loss Amounts shall be allocated as provided in the definition of Excluded Amount.
Except with respect to Liquidation Loss Amounts, if the Loan Agreement or applicable law does not specify a method of allocation and application for particular Collections, such Collections shall be allocated and applied (i) first, to interest pro rata (based on the respective amounts coming due on such day) among the amounts coming due on such dates, and (ii) then, to principal in the order of the dates on which such amounts were first incurred.
Liquidation Loss Amounts will not be allocated to the Senior Notes.
For purposes of the foregoing, required payments of principal on the Notes on each Payment Date (up to the outstanding Note Balance) will include all Liquidation Loss Amounts for such Payment Date and for all previous Payment Dates until paid or covered in full, to the extent that such Liquidation Loss Amounts are not otherwise covered by a Liquidation Loss Distribution Amount, a draw on the Policy or a reduction in the Overcollateralization Amount.
The reduction of the Note Balance of any Class of Notes by application of Liquidation Loss Amounts as described above shall entitle such Class to reimbursement for such amount, with interest thereon, in accordance with Section 3.05(a) as a distribution of the Liquidation Loss Distribution Amount (but without double counting for any prior distribution of Liquidation Loss Distribution Amounts to such Class covering such loss amounts).
For purposes of the foregoing, the amount on deposit in the Note Payment Account and available to be distributed as interest on any Payment Date shall include all amounts on deposit in such account with respect to such Payment Date, other than the Principal Collection Distribution Amount and the Liquidation Loss Distribution Amount (if any) to be distributed on such Payment Date.
On each Payment Date, the Overcollateralization Amount available to cover any Liquidation Loss Amounts on such Payment Date shall be deemed to be reduced by an amount equal to such Liquidation Loss Amounts (except to the extent that such Liquidation Loss Amounts were covered on such Payment Date by a Liquidation Loss Distribution Amount or a payment in respect of Liquidation Loss Amounts).

More Definitions of Liquidation Loss

Liquidation Loss means, for a Collection Period, the amount (if any) by which the Unpaid Balance of a Purchased Receivable (together with the Enforcement Expenses relating to the Purchased Receivable and the related Receivable Rights) exceeds the Liquidation Proceeds in relation to the Purchased Receivable for that Collection Period.

Liquidation Loss as used herein, shall mean (i) the actual loss (measured as of the liquidation date compared to the original cost of such securities) that results from any liquidation described in the previous sentence, and (ii) to the extent that liquidation described in the previous sentence is not effected, then the decrease in value of such securities that are not liquidated (measured as of the latest date on which market information on such value is available prior to Closing compared to the original cost of such securities).

Liquidation Loss. “: The excess, upon a disposition of a defaulted Mortgage Loan, of (i) the amount owed by the Borrower thereunder, including all Advances, over (ii) the Liquidation Proceeds thereof.

Liquidation Loss. Amount With respect to any Payment Date and any Home Loan that became a Liquidated Home Loan during the related Collection Period, the unrecovered portion of the related Loan Balance thereof at the end of such Collection Period, after giving effect to the Net Liquidation Proceeds applied in reduction of the Loan Balance.

Liquidation Loss means (i) the actual loss (measured as of the liquidation date compared to the original cost of such securities) that results from any liquidation of securities described below in the section of this Proxy Statement entitled "Merger Agreement – Additional Covenants; Liquidation of Securities and Other Short Term Investments” and (ii) to the extent that the liquidation described in the section of this Proxy Statement entitled "Merger Agreement – Additional Covenants; Liquidation of Securities and Other Short Term Investments” is not effected, then the decrease in value of such securities that are not liquidated (measured as of the latest date on which market information on such value is available prior to closing of the Merger Agreement compared to the original cost of such securities).

Liquidation Loss. Amounts with respect to the Pool as a percentage of the Initial Pool Balance are less than ____% and (ii) the Three Month Rolling Delinquency Rate for is less than ____%. SPONSOR: GreenPoint Mortgage Securities LLC, a Delaware limited liability company, or its successors-in-interest.