Definition of Pool Loan


Pool Loan means each Loan that is listed on the Pool Loan Schedule on the Closing Date and Additional Pool Loans that are listed from time to time on such Pool Loan Schedule.

Examples of Pool Loan in a sentence

The Depositor shall have no obligation to sell any Series 2002-1 Additional Pool Loan to the Issuer if it has not been paid the Additional Pool Loan Purchase Price therefor.
Schedule 1-A Pool Loans and any other Pool Loans subject to substitution pursuant to this Section 12 shall be removed from the Schedule 1-A Pool Loans and another Pool Loan substituted therefore by the Depositor subject to the notice and re-conveyance provisions applicable to Defective Loans substitution provisions of the related PPA Supplement.
On the terms and subject to the conditions of this Agreement, payment of the Pool Loan Purchase Price for the Pool Loans and the related Pool Assets transferred on each Closing Date shall be made by the Issuer on such Closing Date in immediately available funds to the Depositor to such accounts at such banks as the Depositor shall designate to the Issuer not less than one Business Day prior to such Closing Date.
No removal and substitution of any Pool Loans shall be made under Section 12 of this Agreement on any date unless the Depositor provides a Pool Loan in substitution for the Pool Loan released in accordance with the provisions applicable to substitution for Defective Loans.
The Series 2002-1 Pool Loan Schedule sets forth a list of all Series 2002-1 Pool Loans as of the Closing Date and indicates whether each such Loan shall be designated a Schedule 1-A Pool Loan or a Schedule 1-B Pool Loan.