Principal Advance shall have the meaning given that term in the applicable Credit Enhancement Instrument.
Principal Advance means each Advance, other than an Interest Advance, Swap Advance or an Intercompany Interest Advance;
Principal Advance means the increase in the principal amount of the Bonds as a result of each installment purchase of the Bonds pursuant to the Bond Indenture.
Examples of Principal Advance in a sentence
Agree the Individual and Unique Plaintiffs advance/case count totals and the total Portfolio Principal Advance Amount in the schedules included in the Indicative Portfolio & Strats data file provided by the Client to the Data Tape.
The Loan shall bear interest on the outstanding principal amount from the date of each Principal Advance until such amounts are repaid to Lender in full, at the rate of 10% per annum.
The Authority may, if not satisfied that the conditions described herein have been met, return the Principal Advance Certificate with a statement of the reasons why the Principal Advance Certificate is not acceptable and requesting such further documentation or clarification as the Authority may reasonably require.
With respect to the Purchased Mortgage Loans and/or Principal Advance thereon being sold by Seller on a Purchase Date or Additional Advance Date, as applicable, Seller hereby sells, transfers, conveys and assigns to Buyer or its designee without recourse, but subject to the terms of this Agreement, all the right, title and interest of Seller in and to the Purchased Mortgage Loans together with all right, title and interest in and to the proceeds of any related Related Purchased Mortgage Loans.
Such interest shall be payable monthly in arrears (based on the actual days elapsed since the date of such Principal Advance, divided by 360), on the first day of each calendar month during the term of each Principal Advance and, with respect to any such amount repaid, on the date any such amount is repaid, at a rate per annum equal to the Advance Rate.
More Definitions of Principal Advance
Principal Advance means such sum as requested, in writing, by Borrower to Lender. In the event of Default, Lender shall not make any additional Principal Advances.
Principal Advance. Any Unscheduled Principal Advance. Principal Balance: As to each Mortgage Loan as of any date of determination, the outstanding and unpaid principal balance of the Mortgage Loan as of such date (including, without limitation all related servicing fees, Principal Advances, accrued interest and Servicing Advances to the extent permitted to be added to the principal balance of the Mortgage Loan) after giving effect to payments or recoveries of principal on or before such date.
Principal Advance means for any Mortgage Loan any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for any Mortgage Loan. “Principal Balance” shall mean with respect to any Mortgage Loan, and for any date of determination, the initial Principal Balance of such Mortgage Loan increased by payments to, or on behalf of, a Mortgagor, and other Additional Amounts, reduced by all amounts previously received or collected in respect of principal on such Mortgage Loan subsequent to the date the Buyer acquired such Mortgage Loan. “Principal Limit” shall mean with respect to each Mortgage Loan, the maximum amount available to the Mortgagor as principal under the terms of the related Mortgage Note. “Program Documents” shall mean this Agreement, the Pricing Letter, the Account Agreement, the Custodial Agreement, the Electronic Tracking Agreement, a Servicer Notice, if any, a Subservicer Notice, if any, an Irrevocable Instruction Letter, if any, and the Power of Attorney.
Principal Advance means for any Mortgage Loan any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for any Mortgage Loan. “Principal Balance” shall mean with respect to any Mortgage Loan, and for any date of determination, the initial Principal Balance of such Mortgage Loan increased by payments to, or on behalf of, a Mortgagor, and other Additional Amounts, reduced by all amounts previously received or collected in respect of principal on such Mortgage Loan subsequent to the date the Buyer acquired such Mortgage Loan. “Principal Limit” shall mean with respect to each Mortgage Loan, the maximum amount available to the Mortgagor as principal under the terms of the related Mortgage Note. “Program Documents” shall mean this Agreement, the Pricing Letter, the Account Agreement, the Custodial Agreement, the Electronic Tracking Agreement, a Servicer Notice, if any, a Subservicer Notice, if any, an Irrevocable Instruction Letter, if any, and the Power of Attorney. “Prohibited Person” shall have the meaning set forth in Section 11(x) of the Agreement. “Property” shall mean any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. “Proprietary Loan” shall mean a private label home equity conversion Mortgage Loan that (a) was originated by Seller or an Approved Originator, (b) has not been previously sold to any agency or other investor and (c) is underwritten in accordance with the Approved Underwriting Guidelines. “Purchase Date” shall mean the date on which Purchased Mortgage Loans are transferred by Seller to Buyer or its designee.
Principal Advance means forwith respect to any Mortgage Loan that is a HomeSafe Flex or a HomeSafe Select, any Scheduled Payment or Unscheduled Payment advanced to any Mortgagor under the terms of the related Mortgage Loan Documents and added to the Principal Balance for anyof such Mortgage Loan. “Principal Balance” shall mean with respect to any Mortgage Loan, and for any date of determination, the initial Principal Balance of such Mortgage Loan increased by payments to, or on behalf of, a Mortgagor, and other Additional Amounts, reduced by all amounts previously received or collected in respect of principal on such Mortgage Loan subsequent to the date the Buyer acquired such Mortgage Loan. “Principal Draw” shall have the meaning set forth in the Recitals hereto. “Principal Draw Advance” shall have the meaning set forth in the Recitals hereto. “Principal Limit” shall mean with respect to each Mortgage Loan, the maximum amount available to the Mortgagor as principal under the terms of the related Mortgage Note. “Program Documents” shall mean this Agreement, the Pricing Letter, the Account Agreement, the Custodial Agreement (solely as defined in clauses (i) and (ii) of such definition), the Electronic Tracking Agreement, the Pledge Agreement, a Servicer Notice, if any, a Subservicer Notice, if any, an Irrevocable Instruction Letter, if any, and the Power of Attorney. “Prohibited Person” shall have the meaning set forth in Section 11(x) of the Agreement. “Property” shall mean any right or interest in or to property of any kind whatsoever, whether real, personal or mixed and whether tangible or intangible. “Proprietary Loan” shall mean a private label home equity conversion Mortgage Loan that (a) was originated by Seller or an Approved Originator, (b) has not been previously sold to any agency or other investor and (c) is underwritten in accordance with the Approved Underwriting Guidelines. “Purchase Agreement” shall have the meaning set forth in the Recitals hereto. “Purchase Date” shall mean, individually and collectively, as the context may require (a) with respect to any Purchased Mortgage Loan, the date on which such Purchased Mortgage Loans (or in the case of Select Advance Loans, the participation interests therein) areLoan is transferred by Seller to Buyer or its designee, (b) with respect to the Series 2023-GOT Trust Certificate, the date on which such Series 2023-GOT Trust Certificate is transferred by Seller to Buyer or its designee, and (c) with respect to any Unde...
Principal Advance has the meaning assigned that term in Section 2.5.