Examples of Group II Available Funds in a sentence

For purposes of this Article V, the phrase “payments by or on behalf of Obligors” shall mean payments (other than administrative fees, late fees and similar charges and subject to the definition of Group I and Group II Available Funds) made with respect to the Group I or Group II Student Loans, as applicable, by or on behalf of borrowers thereof and the Guarantors (but excluding the Department).

More Definitions of Group II Available Funds

Group II Available Funds. With respect to any Distribution Date and the Group II Mortgage Loans, to the extent received by the Trustee (x) the sum of (i) all scheduled installments of interest (net of the related Expense Fees) and principal due on the Due Date on such Group II Mortgage Loans in the related Due Period and received by the related Servicer on or prior to the related Determination Date, together with any Monthly Advances in respect thereof; (ii) all Condemnation Proceeds, Insurance Proceeds, Liquidation Proceeds and Subsequent Recoveries received by the related Servicer on the Group II Mortgage Loans during the related Prepayment Period (in each case, net of unreimbursed expenses incurred in connection with a liquidation or foreclosure and unreimbursed Advances, if any); (iii) all partial or full prepayments on the Group II Mortgage Loans received by the related Servicer during the related Prepayment Period together with all Compensating Interest paid by the related Servicer in connection therewith (excluding any Prepayment Premiums); (iv) all Substitution Adjustment Amounts with respect to substitutions of Group II Mortgage Loans that occur on or prior to the related Determination Date; (v) all amounts received with respect to such Distribution Date as the Repurchase Price in respect of a Group II Mortgage Loan repurchased on or prior to the related Determination Date; and (vi) the proceeds received with respect to the termination of the Loan Group II pursuant to clause (a) of Section 9.01; reduced by (y) amounts in reimbursement for Advances previously made with respect to the Group II Mortgage Loans and other amounts as to which the related Servicer, the Depositor, the Custodian or the Trustee are entitled to be paid or reimbursed pursuant to this Agreement.

Group II Available Funds. With respect to any Distribution Date, an amount equal to the excess of (i) the sum of (a) the aggregate of the Monthly Payments on the Group II Mortgage Loans due on the related Due Date and received on or prior to the related Determination Date, (b) Liquidation Proceeds, Insurance Proceeds, Principal Prepayments and other unscheduled recoveries of principal and interest in respect of the Group II Mortgage Loans during the related Prepayment Period (other than any Prepayment Charges collected by the Master Servicer in connection with the full or partial prepayment of any of the Group II Mortgage Loans and any Master Servicer Prepayment Charge Payment Amount in connection with Group II Mortgage Loans), (c) the aggregate of any amounts received in respect of an REO Property acquired in respect of a Group II Mortgage Loan withdrawn from any REO Account and deposited in the Collection Account for such Distribution Date, (d) the aggregate of any amounts deposited in the Collection Account by the Master Servicer in respect of related Prepayment Interest Shortfalls on the Group II Mortgage Loans for such Distribution Date, (e) the aggregate of any Advances made by the Master Servicer or the Trust Administrator for such Distribution Date with respect to the Group II Mortgage Loans, (f) the aggregate of any related advances made by or on behalf of the Trust Administrator for such Distribution Date with respect to the Group II Mortgage Loans pursuant to Section 7.02(b) and (g) the aggregate of any amounts constituting proceeds of repurchases or substitutions of the Group II Mortgage Loans occurring during the related Prepayment Period over (ii) the sum of (a) amounts reimbursable or payable to the Depositor, the Master Servicer, the Trustee, the Trust Administrator, the Seller, the Guarantor, the NIMS Insurer or any Sub-Servicer pursuant to Section 3.11 or Section 3.12 in respect of the Group II Mortgage Loans or otherwise payable in respect of Extraordinary Trust Fund Expenses in connection with the Group II Mortgage Loans, (b) amounts deposited in the Collection Account or the Distribution Account pursuant to clauses (i)(a) through (g) above, as the case may be, in connection with the Group II Mortgage Loans, in error, (c) Stayed Funds in connection with the Group II Mortgage Loans, (d) the PMI Insurer Fee payable from the Distribution Account, (e) any indemnification payments or expense reimbursements made by the Trust Fund pursuant to Section 8.05 in connection...

Group II Available Funds means, with respect to the Group I Notes and the Group II Notes, respectively, and any Distribution Date, any Monthly Servicing Payment Date or any other distribution date pursuant to Section 5.04 of the Indenture, the sum of the following amounts received with respect to the then elapsed portion of the related Collection Period to the extent not previously distributed:

Group II Available Funds. The sum of Interest Funds and Principal Funds with respect to the Mortgage Loans in Loan Group II, and with respect to the first Distribution Date, the Class II-R Deposit which shall be allocable to Subgroup II-1.

Group II Available Funds does not include Insured Payments and does not include any amounts that cannot be distributed to the Owners of the Certificates by the Trustee as a result of proceedings under the United States Bankruptcy Code.

Group II Available Funds. As to any Distribution Date, the sum of (a) the aggregate amount held in the Collection Account at the close of business on the related Servicer Remittance Date and, without duplication, on deposit in the Distribution Account at the close of business on the related Distribution Account Deposit Date, attributable to the Group II Mortgage Loans net of the Amount Held for Future Distribution related to the Group II Mortgage Loans and net of amounts (i) permitted to be withdrawn from the Collection Account pursuant to clauses (i)-(viii) inclusive and clauses (ix)(A)(ii), (ix)(B), (x) and (xi) of Section 3.10(a), (ii) after giving effect to all amounts deposited to the Distribution Account from the Collection Account, amounts permitted to be withdrawn from the Distribution Account pursuant to clauses (i) through (iv) inclusive of Section 3.10(b) each as it relates to the Group II Mortgage Loans and (iii) any amounts representing Fair Market Value Excess with respect to a Group II Mortgage Loan received in connection with the termination of the Trust Fund pursuant to Section 11.01 hereof, (b) the amount of the Advances related to the Group II Mortgage Loans, and (c) in connection with Deleted Mortgage Loans in Loan Group II, as applicable, the aggregate of the Purchase Prices and Substitution Adjustment Amounts deposited on the related Distribution Account Deposit Date.

Group II Available Funds. With respect to any Distribution Date, the sum of (a) Interest Remittance Amount for Loan Group II for that Distribution Date, (b) the related Closing Date Deposit Amount and (c) the Principal Remittance Amount for Loan Group II for that Distribution Date, net of (d) with respect to Loan Group II, fees payable to, and other amounts reimbursable to, the Trustee, the Master Servicer, the Servicer, the Custodian and the Lender-Paid Insurer allocable to such Loan Group II.

Group II Available Funds definition

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