Trailing Payment definition

Trailing Payment mean any payment on the Loan received by the Insured after a Claim has been filed with the Company. Any pronouns, when used in this Policy, shall mean the singular or plural, masculine or feminine, as the case may be.
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Trailing Payment. With respect to any claim that is paid by the Mortgage Pool Insurer in respect of a Realized Loss (as defined in the Mortgage Pool Insurance Policy) on a Liquidated Loan in accordance with the Mortgage Pool Insurance Policy, any payment or other recovery on such Mortgage Loan that is received by the Mortgage Pool Insurer, the Trustee, the Co-Trustee or the Master Servicer after such claim has been filed with the Mortgage Pool Insurer and that is deposited in the Insurer Support Reserve Fund in accordance with the Mortgage Pool Insurance Policy. For the avoidance of doubt, Trailing Payments do not include Purchased Loan Proceeds.
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Examples of Trailing Payment in a sentence

  • Promptly upon receipt by the Trustee of any Trailing Payments and, in any event, within 24 hours of receipt of any such Trailing Payment, the Trustee shall deposit any such Trailing Payments in the Insurer Support Reserve Fund; provided, however, that the Master Servicer shall inform the Trustee of any funds that constitute Trailing Payments.

Related to Trailing Payment

  • Closing Payment has the meaning set forth in Section 2.2.

  • Closing Payment Amount has the meaning set forth in Section 2.06(d).

  • Interim Payment has the meaning specified in Section 10.1.

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

  • Consolidated Rent Expense means, for any period, the rent expense of US Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.