Examples of Pre-Funding Amount in a sentence
On the Series Closing Date, the Seller shall cause to be deposited into the Series Pre-Funding Account an amount equal to the Series Initial Pre-Funding Amount.
An amount equal to the amount on deposit in respect of the Series Pre-Funding Amount in the Series Distribution Account pursuant to Section 8 shall be withdrawn from the Series Distribution Account and paid to each Class, seriatim, in accordance with the following calculation: an amount equal to the product of (i) a fraction the numerator of which is the Class Investor Interest and the denominator of which is the Series Investor Interest and (ii) such amount on deposit.
The Securities Administrator shall, promptly upon receipt, deposit in the Pre-Funding Account and retain therein the Pre-Funding Amount remitted on the Closing Date to the Securities Administrator by the Depositor.
Thereafter, the portion of the Pre-Funding Amount allocable to either Loan Group will equal the Original Pre-Funded Amount allocable to such Loan Group reduced by the purchase price paid for fixed rate Subsequent Mortgage Loans (with respect to the Pre-Funding Amount allocated to Group I) or the purchase price paid for adjustable rate Subsequent Mortgage Loans (with respect to the Pre-Funding Amount allocated to Group II).
On the Closing Date, the Depositor will acquire the Certificates from the Trust Fund, as consideration for its transfer to the Trust Fund of the Initial Mortgage Loans, the Pre-Funding Amount and the other property constituting the Trust Fund.