Senior Liquidation Amount definition

Senior Liquidation Amount. For any Distribution Date, the sum of (A) the aggregate, for each Mortgage Loan which became a Liquidated Mortgage Loan during the Prior Period, of the lesser of: (i) the Senior Percentage of the Principal Balance of such Mortgage Loan and (ii) the Senior Prepayment Percentage of the Liquidation Principal with respect to such Mortgage Loan and (B) the Senior Prepayment Percentage of any Subsequent Recoveries for such Distribution Date.

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Senior Liquidation Amount. For any Distribution Date and in the aggregate for each Loan Group, for each Mortgage Loan in such Loan Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of that Distribution Date, the lesser of (i) the related Senior Percentage of the Stated Principal Balance of that Mortgage Loan (exclusive of the Class P Fraction of that balance, if that Mortgage Loan is a Class P Mortgage Loan) and (ii) the related Senior Prepayment Percentage of the Liquidation Principal with respect to that Mortgage Loan.

Senior Liquidation Amount. For any Distribution Date and for each Mortgage Loan that became a Liquidated Mortgage Loan during the calendar month preceding the month of the Distribution Date, the lesser of (a) the Senior Percentage of the applicable Non-PO Percentage of the Stated Principal Balance of the Mortgage Loan and (b) either (x) if an Excess Loss was not sustained on the Liquidated Mortgage Loan during the preceding calendar month, the Senior Prepayment Percentage of the applicable Non-PO Percentage of the amount of the Liquidation Proceeds allocable to principal received on the Mortgage Loan or (y) if an Excess Loss was sustained on the Liquidated Mortgage Loan during the preceding calendar month, the Senior Percentage of the applicable Non-PO Percentage of the amount of the Liquidation Proceeds allocable to principal received on the Mortgage Loan.

Examples of Senior Liquidation Amount in a sentence

• For any Distribution Date, the excess, if any, of the sum of (A) the aggregate Liquidation Principal for all Group 4 Loans which became Liquidated Mortgage Loans during the Prior Period and (B) any Subsequent Recoveries for such Distribution Date for Loan Group 4, over the Group 4 Senior Liquidation Amount for such Distribution Date.

• For any Distribution Date, the excess, if any, of the aggregate Liquidation Principal of all Class U Mortgage Loans which became Liquidated Loans during the related Prepayment Period over the sum of the Group U-1 Senior Liquidation Amount and the Group U-2 Senior Liquidation Amount for such Distribution Date.

• For any Distribution Date, the excess, if any, of the sum of (A) the aggregate of Liquidation Principal for all Group 4 Loans which became Liquidated Mortgage Loans during the Prior Period and (B) any Subsequent Recoveries for such Distribution Date for Loan Group 4, over the Group 4 Senior Liquidation Amount for such Distribution Date.

• For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.

• For any Distribution Date, the excess, if any, of the sum of (A) the aggregate Liquidation Principal for all Group 2 Loans which became Liquidated Mortgage Loans during the Prior Period and (B) any Subsequent Recoveries for such Distribution Date for Loan Group 2, over the Group 2 Senior Liquidation Amount for such Distribution Date.

More Definitions of Senior Liquidation Amount

Senior Liquidation Amount. The Group I Senior Liquidation Amount or the Group II Senior Liquidation Amount, as applicable.

Senior Liquidation Amount. For any Distribution Date and any Collateral Group (other than Collateral Group P), the aggregate, for each Mortgage Loan contributing to such Collateral Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of such Distribution Date, of the related Senior Collateral Group Percentage of the lesser of the Applicable Fraction of (i) the scheduled principal balance of such Mortgage Loan and (ii) the Liquidation Principal derived from such Mortgage Loan.

Senior Liquidation Amount. The Group 1 Senior Liquidation Amount, the Group 2 Senior Liquidation Amount, the Group 3 Senior Liquidation Amount, Group 4 Senior Liquidation Amount, Group 5 Senior Liquidation Amount or Group 6 Senior Liquidation Amount, as applicable.

Senior Liquidation Amount. For any Distribution Date and any Pool, will equal the aggregate, for each Mortgage Loan that became a Liquidated Mortgage Loan during the calendar month preceding the month of that Distribution Date, of the lesser of (i) the Senior Percentage for the applicable Pool, of the scheduled principal balance of that mortgage loan and (ii) the applicable Senior Prepayment Percentage of the Liquidation Principal derived from such Mortgage Loan.

Senior Liquidation Amount. For any Distribution Date and a Loan Subgroup, the aggregate with respect to each related Group II Loan which became a Liquidated Loan during the related Prepayment Period, of the lesser of: (i) the related Senior Percentage of the Principal Balance of such Group II Loan (exclusive of the related Discount Fraction thereof, if such Group II Loan is a Discount Loan), and (ii) the related Senior Prepayment Percentage of the Liquidation Principal with respect to such Group II Loan (exclusive of the related Discount Fraction thereof, if such Group II Loan is a Discount Loan).

Senior Liquidation Amount. For any Distribution Date and any Group, the aggregate, for each Mortgage Loan or portion thereof in that Group that became a Liquidated Mortgage Loan during the calendar month preceding the month of that Distribution Date, of the related Senior Percentage of the lesser of (i) the Scheduled Principal Balance (or, in the case of a Mortgage Loan in Group I or Group III, the Non A-P Percentage thereof) of such Mortgage Loan (unless the related Servicer had discontinued making P&I Advances, in which case the actual principal balance less advances will be used) and (ii) the Liquidation Principal derived from that Mortgage Loan.

Senior Liquidation Amount. For any Distribution Date and the Group I Loans and Group II Loans, the aggregate with respect to each related Loan which became a Group I/II Liquidated Loan during the related Prepayment Period, of the lesser of: (i) the related Senior Percentage of the Principal Balance of such Loan (exclusive with respect to a Discount Loan, of the applicable Discount Fraction thereof), and (ii) the related Senior Prepayment Percentage of the Liquidation Principal with respect to such Loan (exclusive with respect to a Discount Loan, of the applicable Discount Fraction thereof).