Net Draws definition

Net Draws on any day means the aggregate amount of advances of funds made by the Holder of the Class R-1 Certificates to purchase Additional Balances minus the aggregate amount of Principal Collections on the Mortgage Loans previously paid to the Class R-1 Certificates minus the fractional share of each liquidation loss amount equal to the amount of Net Draws at the time of the incurrence of the liquidation loss amount divided by the aggregate Asset Balance of the Mortgage Loans at the time of the incurrence of the liquidation loss amount.
View Source
Net Draws. Principal Payment" for a Payment Date is the amount of Principal Collections applied on the Payment Date to the payment of outstanding Net Draws to the holder of the Class R-1
View Source

Examples of Net Draws in a sentence

  • In connection with any transfer, the related Net Draws shall be reduced by the aggregate Asset Balances as of the Transfer Date of the Mortgage Loans transferred.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans in a Loan Group from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the Net Draws relating to that Loan Group.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the “Transfer Date”) in an amount not in excess of the Net Draws.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the Net Draws.

  • In connection with any transfer, the related Net Draws shall be reduced by the aggregate Asset Balances as of the Transfer Date of the Mortgage Loans transferred, and the excess, if any, will be applied to reduce the related Allocated Transferor Interest (but not below the related Required Transferor Subordinated Amount).

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans in a Loan Group from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the sum of the outstanding related Net Draws at the time and the excess of the related Allocated Transferor Interest over the related Required Transferor Subordinated Amount the time .

  • In connection with any transfer, the Net Draws shall be reduced by the aggregate Asset Balances as of the Transfer Date of the Mortgage Loans transferred, and the excess, if any, will be applied to reduce the applicable Allocated Transferor Interest (but not below the related Transferor Subordinated Amount).

  • Subject to the conditions below, the Transferor may require the transfer of Mortgage Loans in a Loan Group from the Trust to the Transferor as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of Net Draws at the time.

  • Subject to the conditions below, the holder of the Class R-[1] Certificates may require the transfer of Mortgage Loans from the Trust to the holder of the Class R-[1] Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the sum of the outstanding Net Draws at the time and the excess of the Transferor Interest over the Overcollateralization Target Amount at the time .

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans in a Loan Group from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the sum of the related outstanding Net Draws at the time and the excess of the related Allocated Transferor Interest over the related Required Transferor Subordinated Amount at the time .