Prefunding Request definition

Prefunding Request means a written request, which request may be sent via Electronic Transmission, of Seller that Purchaser prefund Transactions expected to occur on the following Business Day, which request shall be substantially in the form of Exhibit I hereto or such other form as shall be mutually agreed upon between Seller and Purchaser, which shall be delivered to the Purchaser in accordance with Section 3(c) herein.

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Prefunding Request. As defined in Section 3.1.

Prefunding Request means a written request (which may be delivered electronically) of Seller that Purchaser prefund Transactions expected to occur on the following Business Day, which request shall be in the form of Exhibit D hereto or such other form as shall be mutually agreed upon between Seller and Purchaser, which is deemed to be delivered to the Purchaser in accordance with Section 3(c) herein. “Price Differential” means, with respect to any Purchased Mortgage LoanAsset or Transaction as of any date of determination, an amount equal to the sum, for all days elapsed during the related Accrual Period, of the product of (A) the Pricing Rate (or during the continuation of an Event of Default, by daily application of the Default Rate), and (B) the Outstanding Purchase Price for such Purchased Mortgage LoanAsset or Transaction in respect of such day and (C) 1/360.31 Price Differential will be calculated in accordance with Section 3 herein for the actual number of days elapsed during a given Accrual Period.39 “Price Differential Determination Date” means, with respect to any Monthly Payment Date, the second (2nd) Business Day preceding such date. “Pricing Rate” means, as of any date of determination and with respect to an Accrual Period for any Purchased Mortgage Loan or Transaction, an amount equal to the sum of (i) the greater of (a) the Benchmark and (b) the Floor plus (ii) the Applicable Margin.3240 3038 The definition of “Permitted Holders” was added by Amendment No. 1, dated as of September 24, 2021. 31 The definition of “Price Differential” was amended by Amendment No. 1, dated as of September 24, 2021. 39 The definition of “Price Differential” was amended by Amendment No. 1, dated as of September 24, 2021, and Amendment No. 2, dated as of April 28, 2022. 3240 The definition of “Pricing Rate” was amended by Amendment No. 1, dated as of September 24, 2021, and Amendment No. 2, dated as of April 28, 2022.

Examples of Prefunding Request in a sentence

Seller may submit up to eight (8) Seller Mortgage Loan Schedules at any time after the submission of the Prefunding Request until 4:00 p.m. (New York City time) on the Purchase Date.
Seller may submit up to [***] Seller Mortgage Loan Schedules at any time after the submission of the Prefunding Request until [***] (New York City time) on the Purchase Date.
By submitting the Prefunding Request, Seller shall be deemed to have represented that no Responsible Officer of Seller has knowledge of any fact or circumstance that would cause such Responsible Officer to reasonably believe Seller could not represent that all conditions precedent to the Transactions expected to occur the following day shall be satisfied and that all Mortgage Loans to be purchased will be Eligible Mortgage Loans.
By submitting the Prefunding Request, Seller shall be deemed to have represented that all conditions precedent to the Transactions expected to occur the following day have been satisfied and that all Mortgage Loans to be purchased will be Eligible Mortgage Loans.
If any such Prefunding Request is delivered to the Deal Agent after 4:00 p.m. (Charlotte, North Carolina time) one Business Day prior to the proposed Prefunding Date, such Prefunding Request shall be deemed to be received prior to 4:00 p.m. (Charlotte, North Carolina time) on the next succeeding Business Day and the proposed Prefunding Date of such proposed Prefunding shall be deemed to be the Business Day following such deemed receipt.

More Definitions of Prefunding Request

Prefunding Request means a written notice from the Borrower requesting a Prefunding and including the items required by Section 2.01, substantially in the form of Exhibit A hereto.