Liquidation Shortfall definition

Liquidation Shortfall. With respect to any Distribution Date and Liquidated Mortgage Loan serviced by Banco Popular, an amount as of the date of the liquidation equal to (i) the sum of (a) the Stated Principal Balance of the Liquidated Mortgage Loan as of the date of such liquidation and (b) interest at the applicable Net Mortgage Rate from the related Due Date as to which interest was last paid or advanced (and not reimbursed) to Certificateholders up to the related Due Date in the month in which Liquidation Proceeds are required to be distributed on the Stated Principal Balance of such Liquidated Mortgage Loan, minus (ii) the Net Liquidation Proceeds, if any, received during the month in which such liquidation occurred, to the extent applied as recoveries of interest at the Net Mortgage Rate and to principal of the Liquidated Mortgage Loan.
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Liquidation Shortfall means the positive difference, if any, of (i) the aggregate amount that would have been necessary to have effected the Junior Preferred Payment and the Senior Preferred Redemption (each as defined in the LLC Agreement) on or before the consummation of the Liquidation Shortfall Event (together with all prior transactions and distributions received on the Purchased Securities pursuant to Article V of the LLC Agreement) less (ii) the sum of (A) the aggregate proceeds received by Buyer in respect of the Purchased Securities from any Liquidation Shortfall Event plus (B) all distributions received on the Purchased Securities prior thereto pursuant to Article V of the LLC Agreement.
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Liquidation Shortfall means the positive difference, if any, of (i) the aggregate amount that would have been necessary to have effected the Preferred Payment (as defined in the LLC Agreement) on or before the consummation of the Liquidation Shortfall Event (together with all prior transactions and distributions received on the Purchased Securities pursuant to Article V of the LLC Agreement) less
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Examples of Liquidation Shortfall in a sentence

  • As a result, if the Fund invests in a recourse TOB Trust, the Fund will bear the risk of loss with respect to any Liquidation Shortfall.

  • If the Fund invests in a TOB Trust on a recourse basis, it will typically enter into a reimbursement agreement with the TOBs Liquidity Provider pursuant to which the Fund is required to reimburse the TOBs Liquidity Provider the amount of any Liquidation Shortfall.

  • When the Fund invests in TOB Trusts on a non-recourse basis, and the TOBs Liquidity Provider is required to make a payment under the liquidity facility, the TOBs Liquidity Provider will typically liquidate all or a portion of the municipal bonds held in the TOB Trust and then fund the balance, if any, of the Liquidation Shortfall.


More Definitions of Liquidation Shortfall

Liquidation Shortfall. With respect to any Distribution Date and Liquidated Mortgage Loan serviced by Banco Popular, an amount as of the date of the liquidation equal to the Stated Principal Balance of the Liquidated Mortgage Loan as of the date of such liquidation, plus (ii) interest at the applicable Net Mortgage Rate from the related Due Date as to which interest was last paid or advanced (and not reimbursed) to Certificateholders up to the related Due Date in the month in which Liquidation Proceeds are required to be distributed on the Stated Principal Balance of such Liquidated Mortgage Loan from time to time, minus (iii) the sum of (a) the Net Liquidation Proceeds, if any, received during the month in which such liquidation occurred, to the extent applied as recoveries of interest at the Net Mortgage Rate and to principal of the Liquidated Mortgage Loan and (b) the portion of the Liquidation Payment Amount added to the Available Distribution Amount in respect of such Liquidated Mortgage Loan pursuant to Section 4.08.
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Liquidation Shortfall means the positive difference, if any, of (i) the aggregate amount that would have been necessary to have effected the Preferred Payment (as defined in the LLC Agreement) on or before the consummation of the Liquidation Shortfall Event (together with all prior transactions and distributions received on the Purchased Securities pursuant to Article V of the LLC Agreement) less (ii) the sum of (A) the aggregate proceeds received by Buyer in respect of the Purchased Securities from any Liquidation Shortfall Event plus (B) all distributions received on the Purchased Securities prior thereto pursuant to Article V of the LLC Agreement.
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Related to Liquidation Shortfall

  • Accumulation Shortfall shall initially mean zero and shall thereafter mean, with respect to any Monthly Period during the Controlled Accumulation Period, the excess, if any, of the Controlled Deposit Amount for the previous Monthly Period over the amount deposited into the Principal Funding Account pursuant to subsection 4.9(c)(i) with respect to the Certificates for the previous Monthly Period.

  • Class A-P Collection Shortfall With respect to the Cash Liquidation or REO Disposition of a Discount Mortgage Loan and any Distribution Date, the excess of the amount described in Section 4.02(b)(i)(C)(1) over the amount described in Section 4.02(b)(i)(C)(2).

  • Collateral Shortfall Amount is defined in Section 8.1.

  • Substitution Shortfall Amount As defined in Section 2.03(d).

  • Class A Interest Shortfall shall have the meaning specified in subsection 4.02(a).