Subordinate Optimal Principal Amount definition

Subordinate Optimal Principal Amount. For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate 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 Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate 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 Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

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Subordinate Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum, without duplication, of the following for the Group I, Group II, Group III and Group IV Mortgage Loans (but in no event greater than the aggregate Current Principal Amount of the Subordinate Certificates immediately prior to such Distribution Date):

Subordinate Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum, without duplication, of the following (but in no event greater than the aggregate Current Principal Amounts of the Subordinate Certificates immediately prior to such Distribution Date):

Examples of Subordinate Optimal Principal Amount in a sentence

• Each Class of Subordinate Certificates that received a full pro rata share as described above shall be allocated any remaining amount in respect of clauses (ii) and (iii) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).

• For any Distribution Date and with respect to each Class of Subordinate Certificates, the portion of the Aggregate Subordinate Optimal Principal Amount allocable to such Class, equal to the product of the Aggregate Subordinate Optimal Principal Amount on such Distribution Date and a fraction, the numerator of which is the related Class Principal Balance thereof and the denominator of which is the aggregate of the Class Principal Balances of the Subordinate Certificates.

• Each Class of Subordinate Certificates that received a full pro rata share as described above will be allocated any remaining amount in respect of clauses (5) and (6) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).

• Each Class of Subordinate Certificates that received a full pro rata share as described above will be allocated any remaining amount in respect of clauses (ii) and (iii) of the definition of Subordinate Optimal Principal Amount, pro rata (based on the Certificate Principal Balances of only those Subordinate Certificates that received a full pro rata share).

• For purposes of all principal distributions described above and for calculating the applicable Subordinate Optimal Principal Amount, Subgroup Subordinate Percentage and Subordinate Prepayment Percentage, the applicable Certificate Principal Balance for any Distribution Date shall be determined before the allocation of losses on the Mortgage Loans to be made on such Distribution Date.

More Definitions of Subordinate Optimal Principal Amount

Subordinate Optimal Principal Amount. As to any 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 Subordinate Certificates immediately prior to such Distribution Date):

Subordinate Optimal Principal Amount. For the Subordinate Certificates with respect to any Distribution Date, an amount equal to the sum, without duplication, of the following for each of the Mortgage Loan Groups (but in no event greater than the aggregate Current Principal Amount of the Subordinate Certificates immediately prior to such Distribution Date):

Subordinate Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum, without duplication, of the following for the Group I, Group II and Group III Mortgage Loans (but in no event greater than the aggregate Current Principal Amount of the Subordinate Certificates immediately prior to such Distribution Date):

Subordinate Optimal Principal Amount. With respect to the Group II Subordinate Certificates and each Distribution Date will be an amount equal to the sum of the following from each Subgroup (but in no event greater than the aggregate Certificate Principal Balance of the Group II Subordinate Certificates immediately prior to such Distribution Date):

Subordinate Optimal Principal Amount. The Group I Subordinate Optimal Principal Amount or the Group II Subordinate Optimal Principal Amount, as applicable.

Subordinate Optimal Principal Amount. For the Subordinated Certificates with respect to each Distribution Date and each Loan Group means an amount equal to the sum of the following (but in no event greater than the aggregate Certificate Principal Balances of the Subordinated Certificates immediately prior to such Distribution Date):

Subordinate Optimal Principal Amount. As to any Distribution Date, an amount equal to the sum of the following for the Mortgage Loans (but in no event greater than the aggregate Current Principal Amount of the Subordinate Certificates immediately prior to such Distribution Date):