Special Amortization definition

Special Amortization. The meaning specified in Section 9.7 hereof.
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Special Amortization. The election of the Collateral Manager to amortize the Notes because it has determined, in its sole discretion, that investments in Additional Collateral Interests would either be impractical or not beneficial.
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Special Amortization. The amortization of the Notes in whole or in part sequentially in order of seniority by the Issuer on one or more Payment Dates during the Reinvestment Period after the occurrence of any event giving rise to a Special Amortization as set forth in Section 9.01(c).
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Examples of Special Amortization in a sentence

  • The Holders of the Notes also may not be able to reinvest the principal received due to a Special Amortization in one or more investments providing a return equal to or greater than the return the Holders of the Notes expected to obtain from their investment in the Notes which could adversely impact the returns to the Holders of the Notes.

  • No principal will be paid on any subordinate Class of Rated Notes in a Special Amortization unless each Class of Rated Notes senior to such subordinate Class of Rated Notes has been paid in full.

  • The holders of the Rated Notes also may not be able to reinvest the principal received due to a Special Amortization in one or more investments providing a return equal to or greater than the return the holders of the Rated Notes expected to obtain from their investment in the Rated Notes which could adversely impact the returns to the holders of the Rated Notes.

  • The Collateral Manager shall notify the Trustee, the Issuer, the Co-Issuer and each Hedge Counterparty (if any) of such election (a "Special Amortization") and the amount to be amortized (such amount, the "Special Amortization Amount").

  • No principal will be paid on any Subordinate Class of Notes in a Special Amortization unless each Class of Notes senior to such Subordinate Class of Notes has been paid in full.

  • In connection with any Special Amortization, the Class A-1AR Commitments will be reduced simultaneously as described in Section 18.1(e).

  • On the first Payment Date following the date on which such notice is given, the Special Amortization Amount will be applied as Principal Proceeds to the extent available in accordance with the Priority of Payments to redeem the Secured Notes, and may be applied pro rata among the Secured Notes if the Special Amortization Pro Rata Condition is met.

  • For any period, the sum of all Interest Expense and mandatory principal payments due and payable by the Borrowers during such period excluding any balloon payments due upon maturity of any indebtedness (including the "Stipulated Amortization Amount" but not any "Special Amortization Amount" (as such terms are defined in the Cash Collateral Account Agreement)).

  • To the extent that the Issuer fails to purchase or cause to be purchased a Hedge Agreement following a Special Amortization Event in the timeframe described above, the Administrative Agent is authorized to obtain such Hedge Agreement on behalf of the Issuer and to direct the Indenture Trustee to withdraw from the Hedge Reserve Account, to the extent of funds available therein, the applicable Hedge Agreement premium and to pay such amount to the related Qualified Hedge Counterparty.

  • On the first Payment Date following any date on which such notice is given, amounts remaining after giving effect to clauses (A) through (N) of the Principal Waterfall in an amount equal to the Special Amortization Amount will be applied to pay principal of the Secured Notes, sequentially in order of seniority.

Related to Special Amortization

  • REO Principal Amortization With respect to any REO Property, for any calendar month, the excess, if any, of (a) the aggregate of all amounts received in respect of such REO Property during such calendar month, whether in the form of rental income, sale proceeds (including, without limitation, that portion of the Termination Price paid in connection with a purchase of all of the Mortgage Loans and REO Properties pursuant to Section 9.01 that is allocable to such REO Property) or otherwise, net of any portion of such amounts (i) payable pursuant to Section 3.23(c) in respect of the proper operation, management and maintenance of such REO Property or (ii) payable or reimbursable to the Servicer pursuant to Section 3.23(d) for unpaid Servicing Fees in respect of the related Mortgage Loan and unreimbursed Servicing Advances and P&I Advances in respect of such REO Property or the related Mortgage Loan, over (b) the REO Imputed Interest in respect of such REO Property for such calendar month.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Potential Amortization Event means an event which, with the passage of time or the giving of notice, or both, would constitute an Amortization Event.

  • Amortization Amount shall have the meaning provided in Section 5.2(c).

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Amortization rate means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's reemployed position were deemed to be an eligible, full-time position within that system.

  • Amortization means the gradual extinguishment of an amount in an account by distributing such amount over a fixed period, over the life of the asset or liability to which it applies, or over the period during which it is anticipated the benefit will be realized.

  • Amortization Date means the earliest to occur of (i) the Commitment Termination Date, (ii) the declaration or automatic occurrence of the Amortization Date pursuant to Section 7.03 and (iii) that Business Day which the Borrower designates as the Amortization Date by notice to the Administrative Agent at least five (5) Business Days prior to such Business Day.

  • Prepayment Premiums Any prepayment fees and penalties to be paid by the Mortgagor on a Mortgage Loan.

  • Expected Amortization Schedule means, with respect to any Tranche, the expected amortization schedule related thereto set forth in the Series Supplement.

  • Net Aggregate Prepayment Interest Shortfall With respect to any Distribution Date, the amount, if any, by which (a) the aggregate of all Prepayment Interest Shortfalls incurred in connection with the receipt of Principal Prepayments on the Mortgage Loans during the related Due Period, exceeds (b) the aggregate amount deposited by the Master Servicer in the Certificate Account for such Distribution Date pursuant to Section 3.19 in connection with such Prepayment Interest Shortfalls.

  • Reinvestment Prepayment Date with respect to any Reinvestment Event, the earlier of (a) the date occurring twelve months after such Reinvestment Event and (b) the date on which the Borrower shall have determined not to, or shall have otherwise ceased to, acquire or repair assets useful in the Borrower’s business with all or any portion of the relevant Reinvestment Deferred Amount.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Reinvestment Prepayment Amount with respect to any Reinvestment Event, the Reinvestment Deferred Amount relating thereto less any amount expended prior to the relevant Reinvestment Prepayment Date to acquire or repair assets useful in the Borrower’s business.

  • Prepayment Interest Shortfall As to any Distribution Date and any Mortgage Loan (other than a Mortgage Loan relating to an REO Property) that was the subject of (a) a Principal Prepayment in Full during the portion of the related Prepayment Period that falls during the prior calendar month, an amount equal to the excess of one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the Stated Principal Balance of such Mortgage Loan over the amount of interest (adjusted to the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan)) paid by the Mortgagor for such month to the date of such Principal Prepayment in Full or (b) a Curtailment during the prior calendar month, an amount equal to one month's interest at the Net Mortgage Rate (or Modified Net Mortgage Rate in the case of a Modified Mortgage Loan) on the amount of such Curtailment.

  • Early Amortization Event means the occurrence of any of the following:

  • Special Payment Date means each Distribution Date with respect to the Early Amortization Period.

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Net Prepayment Interest Shortfalls As to any Distribution Date and Loan Group, the amount by which the aggregate of Prepayment Interest Shortfalls for that Loan Group during the related Prepayment Period exceeds the amount of Compensating Interest available to such Loan Group for such Distribution Date.

  • Special Payment Means any payment (other than a Scheduled Payment) in respect of, or any proceeds of, any Equipment Note or Collateral (as defined in each Indenture).

  • Managed Amortization Period means the period from the Closing Date to the Rapid Amortization Commencement Date.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Net Prepayment Interest Shortfall For any Distribution Date, the amount by which the sum of the Prepayment Interest Shortfalls exceeds the sum of the Compensating Interest payments made on such Distribution Date.