Substitution Amounts definition

Substitution Amounts. In connection with the delivery of any Eligible Substitute Mortgage Loan, if the outstanding principal amount of such Eligible Substitute Mortgage Loan as of the applicable Substitute Cut-Off Date is less than the related Principal Balance of the Mortgage Loan being replaced as of such Substitute Cut-Off Date, an amount equal to such difference together with accrued and unpaid interest on such amount calculated at the Loan Rate net of the Servicing Fee, if any, of the Mortgage Loan being replaced.
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Substitution Amounts has the meaning given in Clause 7.2.2;
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Examples of Substitution Amounts in a sentence

  • In addition, the Servicer shall inform the Trustee on each Monthly Remittance Date, with respect to each Home Equity Loan Group, of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period, and of the Loan Balance of the Home Equity Loan having the largest Loan Balance as of such date.

  • In addition, the Servicer shall inform the Trustee and the Certificate Insurer on each Monthly Remittance Date, with respect to each Home Equity Loan Group, of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period, and of the Loan Balance of the Home Equity Loan having the largest Loan Balance as of such date.

  • In addition, the Servicer shall inform the Indenture Trustee and the Insurer on each Monthly Remittance Date, with respect to each Home Equity Group, of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period, and of the Principal Balance of the Home Equity Loan having the largest Principal Balance as of such date.

  • In addition, the Servicer shall inform the Trustee on each Monthly Reporting Date of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period.

  • In addition, the Servicer shall inform the Trustee and the Certificate Insurer on each Monthly Remittance Date with respect to the Home Equity Loans of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period.

  • In addition, the Servicer shall inform the Trustee on each Monthly Remittance Date of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period, and of the Loan Balance of the Home Equity Loan having the largest Loan Balance as of such date.

  • In addition, the Servicer shall inform the Indenture Trustee and the Note Insurer in writing on each Monthly Reporting Date, of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period, and of the Loan Balance of the Home Equity Loan having the largest Loan Balance as of such date.

  • In addition, the Servicer shall inform the Trustee and the Certificate Insurer on each Monthly Reporting Date of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period and of the Loan Balance of the Home Equity Loan having the largest Loan Balance of such date.

  • In addition, the Servicer shall inform the Master Servicer, the Trustee and the Certificate Insurer on each Monthly Remittance Date with respect to the Home Equity Loans of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period.

  • In addition, the Servicer shall inform the Trustee on each Monthly Remittance Date with respect to each Home Equity Loan Group of the amounts of any Loan Purchase Prices or Substitution Amounts so remitted during the related Remittance Period.