Pledged Prepayment Penalties definition

Pledged Prepayment Penalties. For any Distribution Date and each Group of Mortgage Loans, an amount equal to the sum of (i) the lesser of (x) Prepayment Penalties collected on the Mortgage Loans in such Group during the related Prepayment Period and (y) 60% of the Prepayment Penalties owed and not waived by the Servicer for the related Prepayment Period, and (ii) the aggregate amount, if any, by which (i)(y) exceeded (i)(x) for prior Distribution Dates for such Group. Principal Only Certificates: None.
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Pledged Prepayment Penalties. For any Payment Date, an amount equal to the sum of (i) the lesser of (x) Prepayment Penalties collected on the Mortgage Loans during the related Prepayment Period and (y) 60% of the Prepayment Penalties owed and not waived by the Servicer for the related Prepayment Period, and (ii) the aggregate amount, if any, by which (i)(y) exceeded (i)(x) for prior Payment Dates.
Sample 1Sample 2Sample 3
Pledged Prepayment Penalties. For any Payment Date and each Group of Mortgage Loans, an amount equal to the sum of (i) the lesser of (x) Prepayment Penalties collected on the Mortgage Loans in such Group during the related Prepayment Period and (y) [ ]% of the Prepayment Penalties owed and not waived by the Servicer for the related Prepayment Period, and (ii) the aggregate amount, if any, by which (i)(y) exceeded (i)(x) for prior Payment Dates for such Group.
Sample 1

Examples of Pledged Prepayment Penalties in a sentence

  • The Class P Certificate shall be entitled to distributions of prepayment penalties received by the Trustee with respect to the Mortgage Loans to the extent such prepayment penalties do not represent Pledged Prepayment Penalties.

  • These stakeholders are the developer, the municipal planning teams, relevant state government departments and authorities, consultants and our residents who may abut development areas.Planning for these developments is determining the appropriate level of infrastructure, including environmental infrastructure that needs to be provided as developers have a play a direct role in providing parks, open spaces, and recreation facilities and other community infrastructure.

  • REMIC 1 shall hold as its assets the property of the Trust Fund other than the (i) Lower Tier Interests in REMIC 1, REMIC 2, REMIC 3 and REMIC 4, (ii) the Pre-Funding Account, (iii) the Basis Risk Reserve Fund and (iv) the prepayment penalties received on the mortgage loans other than the Pledged Prepayment Penalties.

  • REMIC 1 shall hold as its assets the property of the Trust Fund other than the (i) Lower Tier Interests in REMIC 1, REMIC 2, and REMIC 3, (ii) the Pre-Funding Account, (iii) the Basis Risk Reserve Fund and (iv) the Prepayment Penalties received on the Mortgage Loans other than the Pledged Prepayment Penalties.

  • REMIC 1 shall hold as its assets the property of the Trust Fund other than the (i) Lower Tier Interests in REMIC 1, REMIC 2, REMIC 3, and REMIC 4, (ii) the Pre-Funding Account, (iii) the Basis Risk Reserve Fund, (iv) the Cap Agreement Reserve Fund, and (v) the Prepayment Penalties received on the Mortgage Loans other than the Pledged Prepayment Penalties.

  • REMIC 1 shall hold as its assets the property of the Trust Fund other than the (i) Lower Tier Interests in REMIC 1, REMIC 2, REMIC 3, and REMIC 4, (ii) the Pre-Funding Account, (iii) the Basis Risk Reserve Fund, (iv) the Cap Agreement Reserve Fund, (v) the Cap Agreement and (vi) the Prepayment Penalties received on the Mortgage Loans other than the Pledged Prepayment Penalties.


More Definitions of Pledged Prepayment Penalties

Pledged Prepayment Penalties. For any Distribution Date, is an amount equal to the lesser of (i) the prepayment penalties collected during the related Prepayment Period and (ii) the sum of (x) 100% of the Prepayment Penalties owed and not waived by the Servicer for the related Prepayment Period and (y) the aggregate amount, if any, by which (ii)(x) exceeded (i) for the prior Distribution Date. For purposes of attributing payments of Pledged Prepayment Penalties to the holders of the Senior Certificates, each Pledged Prepayment Penalty shall be attributable to the Loan Group from which it was derived. Principal Only Certificates: None.
Sample 1
Pledged Prepayment Penalties. For any Distribution Date, is an amount equal to the lesser of (i) the prepayment penalties collected during the related Prepayment Period and (ii) the sum of (x) 100% of the Prepayment Penalties owed and not waived by the Servicer for the related Prepayment Period and (y) the aggregate amount, if any, by which (ii)(x) exceeded (i) for the prior Distribution Date. Principal Only Certificates: None.
Sample 1
Pledged Prepayment Penalties. For any Distribution Date and the Group I Mortgage Loans and the Group II Mortgage Loans, an amount equal to the sum of (i) the lesser of (x) Prepayment Penalties collected on Mortgage Loans in such Group during the related Prepayment Period and (y) 60% of the Prepayment Penalties owed and not waived by the Servicer pursuant to the terms of the Servicing Agreement for the related Prepayment Period, and (ii) the aggregate amount, if any, by which (i)(y) exceeded (i)(x) for prior Distribution Dates for such Group.
Sample 1
Pledged Prepayment Penalties. For any Payment Date, an amount equal to the sum of (i) the lesser of (x) Prepayment Penalties collected on the Mortgage Loans during the related Prepayment Period and (y) 100% of the Prepayment Penalties owed and not waived by the Servicer for the related Prepayment Period, and (ii) the aggregate amount, if any, by which (i)(y) exceeded (i)(x) for prior Payment Dates. For purposes of attributing payments of Pledged Prepayment Penalties to the holders of the Senior Notes, each Pledged Prepayment Penalty shall be attributable to the Loan Group from which it was derived.
Sample 1

Related to Pledged Prepayment Penalties

  • Prepayment Penalty With respect to each Mortgage Loan, the amount of any premium or penalty required to be paid by the Mortgagor if the Mortgagor prepays such Mortgage Loan as provided in the related Mortgage Note or Mortgage.

  • Debt Prepayment Application means, with respect to any asset disposition, the application by the Company or any Subsidiary thereof of cash in an amount equal to the Net Proceeds Amount (or portion thereof) with respect to such asset disposition to pay Senior Indebtedness of the Company or such Subsidiary.

  • Applicable Prepayment Premium has the meaning specified therefor in the Fee Letter.

  • Prepayment Charges Any prepayment premium or charge payable by a Mortgagor in connection with any Principal Prepayment on a Mortgage Loan pursuant to the terms of the related Mortgage Note or Mortgage, as applicable.

  • Subordinated Prepayment Percentage As to any Distribution Date, 100% minus the Senior Prepayment Percentage for such Distribution Date.

  • Prepayment Penalty Schedule A data field in the Mortgage Loan Schedule attached hereto as Exhibit A which sets forth the amount or method of calculation of the Prepayment Penalty Amount and the term during which such Prepayment Penalty Amount is imposed with respect to a Mortgage Loan.

  • Prepayment Premiums Any prepayment fees and penalties to be paid by the Mortgagor on a Mortgage Loan.

  • Prepayment Penalty Amount With respect to any Remittance Date, all prepayment penalties, penalty or yield maintenance premiums or charges paid by the obligors under the Mortgage Notes due to Principal Prepayments collected by the Servicer during the immediately preceding Prepayment Period.

  • Permitted Prepayment Date means the Business Day after the second (2nd) anniversary of the first Payment Date

  • Prepayment Premium means, with respect to the Mortgage Loan, any prepayment premium, spread maintenance premium, yield maintenance premium or similar fee required to be paid in connection with a prepayment of the Mortgage Loan pursuant to the Mortgage Loan Documents, including any exit fee.

  • Specified Discount Prepayment Amount has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Borrower Offer of Specified Discount Prepayment means the offer by the Borrower to make a voluntary prepayment of Term Loans at a specified discount to par pursuant to Section 2.11(a)(ii)(B).

  • Prepayment means any prepayment, whether in part or in full, in respect of any Receivable.

  • Subordinate Prepayment Percentage As to any Distribution Date and Loan Group, 100% minus the Senior Prepayment Percentage for such Loan Group for such Distribution Date.

  • Specified Discount Prepayment Notice means an irrevocable written notice of a Borrower Offer of Specified Discount Prepayment made pursuant to Section 2.11(a)(ii)(B) substantially in the form of Exhibit I.

  • Specified Discount Prepayment Response means the irrevocable written response by each Lender, substantially in the form of Exhibit J, to a Specified Discount Prepayment Notice.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Principal Prepayment Any payment of principal or other recovery on a Mortgage Loan, including a recovery that takes the form of Liquidation Proceeds or Insurance Proceeds, which is received in advance of its scheduled Due Date and is not accompanied by an amount as to interest representing scheduled interest on such payment due on any date or dates in any month or months subsequent to the month of prepayment.

  • Prepayment Account for any Class of Loans shall mean an account (which may include the Prepayment Account established under the Security Agreement) established by the Borrower with the Collateral Agent and over which the Collateral Agent shall have exclusive dominion and control, including the exclusive right of withdrawal for application in accordance with this subsection (viii). The Collateral Agent will, at the request of the Borrower, invest amounts on deposit in the Prepayment Account for any Class of Loans in Cash Equivalents that mature prior to the last day of the applicable Interest Periods of the Eurodollar Loans of such Class to be prepaid; provided, however, that (i) the Collateral Agent shall not be required to make any investment that, in its sole judgment, would require or cause the Collateral Agent to be in, or would result in any, violation of any Law, (ii) such Cash Equivalents shall be subjected to a First Priority Lien in favor of the Collateral Agent and (iii) if any Event of Default shall have occurred and be continuing, the selection of such Cash Equivalents shall be in the sole discretion of the Collateral Agent. The Borrower shall indemnify the Collateral Agent for any losses relating to such investments in Cash Equivalents so that the amount available to prepay Eurodollar Loans on the last day of the applicable Interest Periods is not less than the amount that would have been available had no investments been made pursuant thereto. Other than any interest or profits earned on such investments, the Prepayment Accounts shall not bear interest. Interest or profits, if any, on the investments in any Prepayment Account shall accumulate in such Prepayment Account until all outstanding Loans of any applicable Class with respect to which amounts have been deposited in the Prepayment Accounts have been prepaid in full, at which time so much thereof as is not required to make payment of the Senior Credit Obligations which have become due and payable (whether by scheduled maturity, acceleration or otherwise) shall be withdrawn by the Collateral Agent on the next Business Day following the day on which the Collateral Agent considers the funds deposited therein to be collected funds and disbursed to the Borrower or its order. If the maturity of the Loans has been accelerated pursuant to Section 8.02, the Administrative Agent may, in its sole discretion, cause the Collateral Agent to withdraw amounts on deposit in the Prepayment Account for the applicable Class of Loans and, subject to Section 8.03, apply such funds to satisfy the Senior Credit Obligations of the applicable Class or Classes.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Prepayment Period With respect to any Distribution Date, the calendar month preceding the calendar month in which such Distribution Date occurs.

  • Specified Discount Prepayment Response Date has the meaning set forth in Section 2.05(a)(v)(B)(1).

  • Principal Prepayment Period The month preceding the month in which the related Remittance Date occurs.

  • Optional Prepayment Price shall have the meaning set forth in Section 14.02(a).

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.