Net Collections definition

Net Collections. With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

Net Collections means, with respect to any Distribution Date and the related Collection Period, the sum of (i) all payments of Monthly P&I, all partial prepayments, all Full Prepayments, Net Liquidation Proceeds and Net Insurance Proceeds in each case, collected with respect to the Contracts during such Collection Period, less partial prepayments of Precomputed Contracts collected with respect to the Contracts during such Collection Period which are deposited in the Payahead Account pursuant to Section 4.02(a), (ii) amounts withdrawn from the Payahead Account pursuant to Section 4.01(b) and deposited in the Collection Account with respect to such Distribution Date, and (iii) the aggregate Purchase Amount for Purchased Contracts deposited in or credited to the Collection Account pursuant to Section 4.02(a) on the Business Day preceding the Servicer Report Date next preceding such Distribution Date.

Net Collections means, with respect to any Distribution Date and the related Due Period, the sum of (i) all amounts of principal and interest collected on or in respect of the Contracts during such Due Period (in the case of principal and interest that are part of any Liquidation Proceeds or Insurance Proceeds, only to the extent of the related Net Liquidation Proceeds or Net Insurance Proceeds), less (a) the Retained Yield, if any, (b) any late payments of interest retained by the Master Servicer as reimbursement for Advances pursuant to Section 5.04 and (c) any installments of Monthly P&I or Prepayments retained by the Master Servicer as reimbursement for Nonrecoverable Advances pursuant to Section 5.04; (ii) the Advance for such Due Period to the extent actually made; (iii) the investment earnings on funds in the Collection Account for such Distribution Date (which, except as otherwise provided in Section 5.01, shall be the RIC Reinvestment Earnings); (iv) amounts withdrawn from the Holding Account and deposited in the Collection Account in such Due Period pursuant to Section 5.02; and (v) the aggregate Repurchase Amount for Repurchased Contracts deposited in or credited to the Collection Account pursuant to Section 5.04(c) on the related Master Servicer Report Date.

Examples of Net Collections in a sentence

• For the avoidance of doubt, the reimbursement for Supplemental Delinquency Advances and Servicer Delinquency Advances made in respect of a particular Trust Group shall be from the Net Collections of such Trust Group and not on a loan-by-loan basis and no funds shall be remitted from the Principal and Interest Account to the Trustee for deposit into the Certificate Account to the extent that there are any Supplemental Delinquency Advances that have not been reimbursed.

• On each Business Day during each Remittance Period on which there is an unreimbursed Supplemental Delinquency Advance, the Disbursing Agent shall, on a Trust Group-by-Trust Group basis, issue a Disbursement Notice to reimburse the Supplemental Servicer from Net Collections held in the Clearance Account for all outstanding Supplemental Delinquency Advances prior to payment of any amount from Net Collections to the Servicer (or a successor servicer) or to the Principal and Interest Account.

• In those cases where a Subservicer is servicing a Contract pursuant to a Subservicing Agreement, the Master Servicer shall cause the Subservicer to remit to the Master Servicer for deposit in the Collection Account, on a daily basis, within two Business Days after receipt by the Subservicer, all Net Collections received by the Subservicer.

• Payments received directly by Client for these services must be reported to EMS|MC as provided in Section 3(f) hereof and shall be treated as Net Collections for purposes of Section 5(a) hereof.

• The proceeds of each such sale of assets of the Trust shall be treated as Net Collections under the Sale and Servicing Agreement.

More Definitions of Net Collections

Net Collections. With respect to any Liquidated Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

Net Collections has the meaning specified in the Sale and Servicing Agreement.

Net Collections means Gross Collections minus the Funds Available for Servicing Payments.

Net Collections means all funds that are due to creditors from

Net Collections means, with respect to any Distribution Date and the related Collection Period, the sum of (i) all amounts collected on or in respect of the Contracts during such Collection Period, including, Monthly P&I, the Aggregate Repurchase Amount, if any, Liquidation Proceeds (only to the extent of the related Net Liquidation Proceeds), Insurance Proceeds (only to the extent of the related Net Insurance Proceeds), less the sum of (A) any late payments of interest retained by the Master Servicer as reimbursement for Advances pursuant to Section 5.04 and (B) any installments of Monthly P&I or Prepayments retained by the Master Servicer as reimbursement for Nonrecoverable Advances pursuant to Section 5.04; (ii) the Advance for such Collection Period to the extent actually made; (iii) the investment earnings on funds in the Collection Account for such Distribution Date (which, except as otherwise provided in Section 5.01, shall be the RIC Reinvestment Earnings); and (iv) the aggregate Repurchase Amount for Repurchased Contracts deposited in or credited to the Collection Account pursuant to Section 5.04(c) on the related Master Servicer Report Date.

Net Collections means the gross collections from Portfolios held by the Group minus commission and fees to collection agencies.

Net Collections with respect to a Portfolio Entity for any applicable period shall mean the gross aggregate amount received during such period by the Portfolio Entity on account of the Assets of the Portfolio Entity (including, in addition, amounts received by any REO Affiliate of such Portfolio Entity) or collateral therefor, and including amounts received on account of such Assets prior to the commencement of such period which were paid to or for the benefit of such Portfolio Entity during such period, reduced by (a) amounts which were paid directly to the Permitted Portfolio Company Creditor of such Portfolio Entity under an Approved Portfolio Leverage Arrangement or amounts which were remitted to such Creditor, in either case pursuant to the requirements of such Approved Portfolio Leverage Arrangement, which, in any such case, have not been released by such Creditor to (or for the benefit of) such Portfolio Entity (and/or any REO Affiliate thereof), (b) servicing fees, custodial fees and lockbox bank fees related to such Assets paid by such Portfolio Entity during such period, (c) escrow payments or deposits made by any obligor related to an Asset, (d) reasonable accounting and legal fees paid by the Portfolio Entity related to the operation of the Portfolio Entity, and (e) Portfolio Protection Expenses related to the Assets of the Portfolio Entity or its related REO Affiliate.