Transferor Interest definition

Transferor Interest has the meaning specified in the Transfer Agreement.

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Transferor Interest shall have the meaning specified in Section 4.01(a).

Transferor Interest for any Payment Date means the aggregate undivided beneficial interest represented by the Transferor Certificate in the subtrust created by the Trust Supplement under which the Notes are issued, calculated as the excess of (i) the Loan Balance as of the close of business on the day before the date of determination over (ii) the Note Principal Balance on the date of determination (after giving effect to the distribution of all amounts actually distributed on the Notes on the date of determination).

Examples of Transferor Interest in a sentence

• On the date on which the Class C Note Principal Balance has been paid in full, after making any payments to the Noteholders required pursuant to Sections 4.11(a), (b), (c) and (d), the Issuer shall withdraw from the Spread Account all amounts then remaining in the Spread Account and pay such amounts to the holders of the Transferor Interest.

• The Spread Account shall be under the sole dominion and control of the Indenture Trustee for the benefit of the Class C Noteholders and the holder of the Transferor Interest.

• For the avoidance of doubt, any amounts required to be released to the Issuer, to the holders of the Transferor Interest or to the Master Servicer (if an Originator or an Affiliate of an Originator is the Master Servicer) need not be deposited into the Collection Account or any Series Account.

• In connection with any transfer, the Transferor Interest shall be reduced by the aggregate Asset Balances as of their Transfer Date of the Mortgage Loans transferred.

• On and after the date of such removal, each Ineligible Receivable shall be deducted from the aggregate amount of Principal Receivables used in the calculation of any Investor Percentage, the Transferor Percentage or the Transferor Interest.

More Definitions of Transferor Interest

Transferor Interest has the meaning specified in the Indenture.

Transferor Interest. As defined in the Trust Agreement.

Transferor Interest means, on any date of determination, the aggregate amount of Principal Receivables at the end of the day immediately prior to such date of determination, minus the Aggregate Invested Amount at the end of such day.

Transferor Interest means, on any date of determination, the aggregate amount of Principal Receivables and the principal amount on deposit in any Principal Funding Account (as defined in any Supplement) at the end of the day immediately prior to such date of determination, minus the Aggregate Investor Interest at the end of such day, minus the aggregate Enhancement Invested Amounts, if any, for each Series outstanding at the end of such day, minus the aggregate Collateral Interests not included in the Aggregate Investor Interests, if any, for each Series outstanding at the end of such day.

Transferor Interest for any Payment Date means the aggregate undivided beneficial interest represented by the Transferor Certificate in the Trust (other than the right to distributions resulting from Section 8.03(a)(xiii)), calculated as the sum of the Allocated Transferor Interests for each Loan Group.

Transferor Interest has the meaning specified in the Asset Pool One Supplement.

Transferor Interest means either the uncertificated interest in the Transferor Interest or, if the Transferor elects to evidence its interest in the Transferor Interest in certificated form, a certificate executed and delivered by the Issuer and authenticated by the Owner Trustee substantially in the form of Exhibit B to the Trust Agreement. The Transferor Interest is an “obligation” of the Issuer, as such term is used in the FDIC Rule, and the holders of the Transferor Interest are “investors,” as such term is used in the FDIC Rule.