Senior Optimal Principal Amount definition

Senior Optimal Principal Amount. As to a Mortgage Pool and with respect to each Distribution Date, an amount equal to the sum of:

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Senior Optimal Principal Amount. For any Distribution Date and any Loan Group, the sum for all Mortgage Loans in such Loan Group of (i) the Senior Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan received with respect to such Distribution Date and (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of any Mortgage Loan related to such Loan Group that is not yet a Liquidated Loan, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each such Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the lesser of (a) the Senior Percentage of the Scheduled Principal Balance of such Mortgage Loan, and (b) either (A) the Senior Prepayment Percentage, or (B) if an Excess Loss was sustained with respect to such Liquidated Loan during such prior calendar month, the Senior Percentage of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan, (iii) the Senior Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Senior Prepayment Percentage of the Recoveries for such Loan Group received during the related Prepayment Period; provided, however, that, if a Bankruptcy Loss that is an Excess Loss is sustained with respect to such Mortgage Loan that is not a Liquidated Loan, the Senior Optimal Principal Amount will be reduced on the related Distribution Date by the Senior Percentage of the principal portion of such Bankruptcy Loss.

Senior Optimal Principal Amount. With respect to each Distribution Date, an amount equal to the sum of:

Examples of Senior Optimal Principal Amount in a sentence

The Trustee shall notify the Depository as to which requests should be honored on each Distribution Date at least two Business Days prior to such Distribution Date and shall notify the Depository as to the portion of the Senior Optimal Principal Amount (together with any amounts available for distribution from the applicable Rounding Account) to be distributed to the Special Retail Certificates by mandatory distribution pursuant to Section 4.06(d).
The Trust Administrator shall notify the Depository as to which requests should be honored on each Distribution Date at least two Business Days prior to such Distribution Date and shall notify the Depository as to the portion of the Senior Optimal Principal Amount (together with any amounts available for distribution from the applicable Rounding Account) to be distributed to the Special Retail Certificates by mandatory distribution pursuant to Section 4.06(d).
To the extent that the portion of the Senior Optimal Principal Amount for Loan Group 4 allocable to the Special Retail Certificates on any Distribution Date exceeds the aggregate Certificate Principal Balance of Special Retail Certificates of such Class with respect to which principal distribution requests have been received, principal distributions in reduction of the Certificate Principal Balance of such Class will be made by mandatory distribution pursuant to Section 4.06(d).
The Senior Optimal Principal Amount in clause (b) of this priority THIRD will be distributed to the Class A-7 Certificates until the Current Principal Amount of such Class has been reduced to zero.
To the extent that the portion of the Senior Optimal Principal Amount for Loan Group 2 allocable to the Special Retail Certificates on any Distribution Date exceeds the aggregate Certificate Principal Balance of Special Retail Certificates of such Class with respect to which principal distribution requests have been received, principal distributions in reduction of the Certificate Principal Balance of such Class will be made by mandatory distribution pursuant to Section 4.06(d).

More Definitions of Senior Optimal Principal Amount

Senior Optimal Principal Amount. The Group I Senior Optimal Principal Amount, Group II Senior Optimal Principal Amount, Group III Senior Optimal Principal Amount or Class IV Senior Optimal Principal Amount, as applicable.

Senior Optimal Principal Amount. The Group I Senior Optimal Principal Amount, Group II Senior Optimal Principal Amount, Group III Senior Optimal Principal Amount or Group IV Senior Optimal Principal Amount, as applicable.

Senior Optimal Principal Amount. With respect to each Distribution Date and a Certificate Group related to a Sub-Loan Group in Loan Group II, an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Certificate Principal Balances of the related Certificate Group immediately prior to such Distribution Date):

Senior Optimal Principal Amount. With respect to each Distribution Date, an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Current Principal Amount of the Group I, Group II, Group III or Group IV Senior Certificates, as applicable, immediately prior to such Distribution Date):

Senior Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum, without duplication, of:

Senior Optimal Principal Amount. For any Distribution Date, the sum of (i) the Senior Percentage of the applicable Non-PO Percentage of all amounts described in clauses (a) through (d) of the definition of "Non-PO Formula Principal Amount" for such Distribution Date, (ii) with respect to each Mortgage Loan that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the lesser of (A) the Senior Percentage of the applicable Non-PO Percentage of the Scheduled Principal Balance of such Mortgage Loan, or (B) either (a) the Senior Prepayment Percentage, or (b) if an Excess Loss was sustained with respect to such Liquidated Loan during such prior calendar month, the Senior Percentage, of the applicable Non-PO Percentage of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan, and (iii) the Senior Prepayment Percentage of the applicable Non-PO Percentage of the amounts described in clause (f) of the definition of "Non-PO Formula Principal Amount" for such Distribution Date; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan that is not a Liquidated Loan, the Senior Optimal Principal Amount will be reduced on the related Distribution Date by the Senior Percentage of the applicable Non-PO Percentage of the principal portion of such Bankruptcy Loss.

Senior Optimal Principal Amount. With respect to each Distribution Date, an amount equal to the sum, without duplication, of the following (after giving effect to the application of such amounts to cover Deferred Interest on the Mortgage Loans on such Distribution Date in accordance with the definition of Net Deferred Interest but in no event greater than the aggregate Current Principal Amounts immediately prior to such Distribution Date):