Trust Balance definition
Examples of Trust Balance in a sentence
On and after the date upon which the Trust Balance of any HELOC has been reduced to zero (from payments from sources other than the Servicer or any Affiliate of the Servicer), the Servicer may purchase the related Mortgage Loan by depositing an amount equal to the then outstanding Additional Balance with respect to such Mortgage Loan into the Additional Certificate Account.
In the event that there shall have been a loss which would otherwise have been covered by such blanket policy if such blanket policy did not contain a deductible clause, the Servicer shall deposit into the Certificate Account to the extent provided for in Section 3.2(c) the Trust proportion (computed on the basis of the ratio of the Trust Balance to the Loan Balance at the time of deposit) of the amount not otherwise payable under the blanket policy because of such deductible clause.
Upon the payment in full of the Trust Balance of any Mortgage Loan or the distribution of all Investor Liquidation Proceeds with respect to any Mortgage Loan, the Servicer shall promptly so notify the Trustee or the Custodial Agent by a certification, substantially in the form of Exhibit H, of a Servicing Officer.
The Reinsurer shall make such further deposits to the Trust Account as are required from time to time in order to restore the Required Trust Balance.
The Depositor represents and warrants that it has transferred all of its right, title and interest in the Trust Balance of each Home Equity Loan transferred to it by the Originators to the Trustee on the Closing Date free of any liens, claims, charges or other encumbrances created by the Depositor and there has been no other sale or assignment thereof by the Depositor.
The repurchase price for any Seriously Delinquent Mortgage Loan shall be equal to the sum of (i) the Trust Balance thereof as of the end of the Collection Period next preceding the Distribution Date upon which the proceeds of such repurchase are to be distributed and (ii) accrued and unpaid interest to the end of such Collection Period computed on a daily basis at the Net Loan Rate on the Trust Balance thereof.
In connection with such filing, the Master Servicer agrees that it shall cause to be filed all necessary continuation statements and to take or cause to be taken such actions and to execute such documents as are necessary to perfect and protect the Certificateholders' interests in the Trust Balance of each such Home Equity Loan and the proceeds thereof allocable thereto.
On the Closing Date, the Depositor shall make available under an Eligible Letter of Credit or, from the proceeds of the offering of the Certificates, shall deposit an amount equal to $______ in such Reserve Account, which represents the sum of _____% of the Aggregate HELOC Trust Balance of the Cut-Off Date and _____% of the Aggregate HEL Trust Balance as of the Cut-Off Date.
The Servicer shall calculate on a daily basis the Daily Trust Balance, the Daily Trust Invested Amount and all related amounts to the extent necessary to determine the Required Cash Collateral Amount for such date as described in Section 4.5(d).
Such purchase by the Master Servicer shall not relieve the related Originator of any liability to the Master Servicer with respect to the Trust Balance of the Home Equity Loan so purchased, and the Master Servicer shall be entitled to require the related Originator to pay to the Master Servicer the related Purchase Price and thereby purchase the Trust Balance of such Home Equity Loan from the Master Servicer.