Senior Optimal Principal Amount. As to a Mortgage Pool and with respect to each Distribution Date, an amount equal to the sum of:
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
If on any Payment Date the Principal Funds for a Loan Group are less than the Senior Optimal Principal Amount for the related Senior Notes, then such amount shall be reduced for such Payment Date, and such remaining Principal Funds shall be distributed to the related Senior Notes, on a pro rata basis, on the basis of such reduced amounts.
Second, to the Class II-A-3 Notes and Class II-A-4 Notes, on a pro rata basis, in reduction of the Note Principal Balances thereof, the related Senior Optimal Principal Amount for such Payment Date to the extent of remaining Group II-NC Available Funds, until the Note Principal Balances of such Classes have been reduced to zero.
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. 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. The Group 1 Senior Optimal Principal Amount, Group 2 Senior Optimal Principal Amount, Group 3 Senior Optimal Principal Amount or Group 4 Senior Optimal Principal Amount, as applicable.
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. The Group II Senior Optimal Principal Amount or the Group III Senior Optimal Principal Amount, as applicable. Senior Percentage: The Group II Senior Percentage or the Group III Senior Percentage, as applicable. Senior Prepayment Percentage: The Group II Senior Prepayment Percentage or the Group III Senior Prepayment Percentage, as applicable.