Principal Relocation Payment definition

Principal Relocation Payment. A payment from any Loan Group to REMIC 1 Regular Interests other than those of their corresponding Loan Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Amount from a Loan Group.
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Principal Relocation Payment. A payment from any Mortgage Pool to Lower-Tier REMIC Regular Interests that correspond to a different Mortgage Pool as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Remittance Amount from a Mortgage Pool.
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Principal Relocation Payment. A payment from any Collateral Allocation Group to a Subsidiary REMIC Regular Interest other than a Regular Interest corresponding to that Collateral Allocation Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Non-A-P Formula Principal Distribution Amount from a Collateral Allocation Group and shall include a proportionate allocation of Realized Losses from the Mortgage Loans or Applicable Fractions thereof related to such Collateral Allocation Group.
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Examples of Principal Relocation Payment in a sentence

  • In the event that a Cross-Over Situation exists with respect to the Class I3 and Class I4 Interests on any Distribution Date, and the Calculation Rate in respect of the outstanding Class I3 and Class I4 Interests is less than the Adjusted Subordinate Net Rate Cap, a Principal Relocation Payment shall be made proportionately made to the outstanding Class I3 Interests prior to any other Principal Distributions from each such Loan Group.

  • In the event that a Cross-Over Situation exists on any Distribution Date, and the weighted average rate of the outstanding LT1 and LT2 interests related to a Class of Subordinate Certificates is greater than the Pass-Through Rate for such class of Subordinate Certificates, a Principal Relocation Payment shall be made proportionately to such outstanding LT2 interests prior to any other distributions of principal from each such Loan Group.

  • In the event that a Cross-Over Situation exists on any Distribution Date, and the weighted average rate of the outstanding LT1 and LT2 interests related to a Class of Subordinate Certificates is less than the Pass-Through Rate for such class of Subordinate Certificates, a Principal Relocation Payment (as defined below) shall be made proportionately to such outstanding LT1 interests prior to any other distributions of principal from each such Loan Group or Groups.

  • In the event that a Cross-Over Situation exists with respect to the Class I1 and Class I2 Interests on any Distribution Date, and the Calculation Rate in respect of the outstanding Class I1 and Class I2 Interests is greater than the Subordinate Net Rate Cap, a Principal Relocation Payment shall be made proportionately made to the outstanding Class I2 Interests prior to any other Principal Distributions from each such Loan Group.

  • In the event that a Cross-Over Situation exists with respect to the Class I1 and Class I2 Interests on any Distribution Date, and the Calculation Rate in respect of the outstanding Class I1 and Class I2 Interests is less than the Subordinate Net Rate Cap, a Principal Relocation Payment shall be made proportionately made to the outstanding Class I1 Interests prior to any other Principal Distributions from each such Loan Group.

  • In the event that a Cross-Over Situation exists with respect to the Class I3 and Class I4 Interests on any Distribution Date, and the Calculation rate in respect of the outstanding Class I3 and Class I4 interests is greater than the Adjusted Subordinate Net Rate Cap, a Principal Relocation Payment shall be made proportionately made to the outstanding Class I4 Interests prior to any other Principal Distributions from each such Loan Group.

  • For purposes of making Principal Relocation Payments, to the extent that the principal received during the Collection Period from the related Loan Group and Realized Losses are insufficient to make the necessary reduction of principal, then interest shall accrue on the LT3 interest related to a Loan Group or Groups (and be added to their principal balances) that are not receiving a Principal Relocation Payment to allow the necessary Principal Relocation Payment to be made.


More Definitions of Principal Relocation Payment

Principal Relocation Payment. Not applicable.
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Principal Relocation Payment. In the case of the Variable Loan Groups and Variable Interests only, a payment from any Loan Group to a REMIC 1 Interest other than a Regular Interest corresponding to that Loan Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Remittance Amount from a Loan Group and shall include a proportionate allocation of Realized Losses from the Mortgage Loans of such Loan Group.
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Principal Relocation Payment. A payment from any Corresponding Loan Group to the Subsidiary REMIC Interests of another Corresponding Loan Group as provided in the Preliminary Statement.
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Principal Relocation Payment. A payment to a REMIC 1 Regular Interest other than a Regular Interest as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Remittance Amount less Realized Losses.
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Principal Relocation Payment. A payment from any Lower Tier REMIC Regular Interests other than those of their Corresponding Calculation Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Amount from a Calculation Group and shall also consist of a proportionate allocation of Realized Losses from the Mortgage Loans of a Calculation Group.
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Principal Relocation Payment. With respect to the Aggregate Group II Subordinated Certificates, a payment from any Aggregate Group II Loan Group to a REMIC 1B Regular Interest other than a Regular Interest corresponding to that Loan Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Amount from an Aggregate Group II Loan Group and shall include a proportionate allocation of Realized Losses from the Mortgage Loans of such Loan Group. With respect to the Aggregate Group III Subordinated Certificates, a payment from any Aggregate Group III Loan Group to a REMIC 1B Regular Interest other than a Regular Interest corresponding to that Loan Group as provided in the Preliminary Statement. Principal Relocation Payments shall be made of principal allocations comprising the Principal Amount from an Aggregate Group III Loan Group and shall include a proportionate allocation of Realized Losses from the Mortgage Loans of such Loan Group.
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Related to Principal Relocation Payment

  • Group I Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group I Principal Distribution Amount.

  • Principal Remittance Amount With respect to any Distribution Date, the sum of the Group I Principal Remittance Amount and the Group II Principal Remittance Amount.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.