Initial Interest Deposit Amount definition

Initial Interest Deposit Amount. With respect to each Mortgage Loan that accrues interest on Actual/360 Basis, an amount equal to two days of interest on the Cut-off Date Balance of such Mortgage Loan at the related Net Mortgage Rate, which amount is required to be delivered by the related Mortgage Loan Seller to the Master Servicer on the Closing Date for deposit into the Collection Account pursuant to Section 1 of the related Loan Purchase Agreement.
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Initial Interest Deposit Amount. With respect to each Mortgage Loan or Trust Subordinate Companion Loan that accrues interest on Actual/360 Basis, an amount equal to two days of interest on the Cut-off Date Balance of such Mortgage Loan or Trust Subordinate Companion Loan at the related Net Mortgage Rate, which amount is required to be delivered by the related Mortgage Loan Seller to the Master Servicer on the Closing Date for deposit into the Collection Account pursuant to Section 1 of the related Loan Purchase Agreement. The aggregate of all Initial Interest Deposit Amounts is $270,812.33.
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Initial Interest Deposit Amount. With respect to each Mortgage Loan that accrues interest on Actual/360 Basis and the Trust Subordinate Companion (which accrues interest on an Actual/360 Basis), an amount equal to two days of interest on the Cut-off Date Balance of such Mortgage Loan or the Trust Subordinate Companion Loan, as applicable, at the related Net Mortgage Rate, which amount is required to be delivered by the related Mortgage Loan Seller to the Master Servicer on the Closing Date for deposit into the Collection Account pursuant to Section 1 of the related Loan Purchase Agreement. The aggregate of all Initial Interest Deposit Amounts is $280,676.42.
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Examples of Initial Interest Deposit Amount in a sentence

  • In addition, on the Closing Date, the Seller shall cause to be delivered to the Master Servicer the aggregate Initial Interest Deposit Amount with respect to those Mortgage Loans that accrue interest on an Actual/360 Basis, to be deposited by the Master Servicer into the Collection Account on behalf of the Seller and for the benefit of the Trust Fund.

  • For the avoidance of doubt, no Initial Interest Deposit Amount will be due and owing if (i) the initial Distribution Date does not occur in February or March, or (ii) if the initial Distribution Date occurs in February during a leap year.


More Definitions of Initial Interest Deposit Amount

Initial Interest Deposit Amount. With respect to the Trust Loan, an amount equal to two days of interest on the Cut-off Date Balance of the Trust Loan, at the related Net Mortgage Rate, which amount is required to be delivered by the Loan Sellers to the Servicer on the Closing Date for deposit into the Collection Account pursuant to Section 1 of the Trust Loan Purchase Agreements. The respective portions of the Initial Interest Deposit Amount payable by the Mortgage Loan Sellers pursuant to Section 1 of the Trust Loan Purchase Agreements shall be $30,036.26 with respect to BMO and $30,036.26 with respect to SMC.
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Initial Interest Deposit Amount. A cash amount delivered by the Loan Seller to the Depositor on the Closing Date for deposit in the Interest Reserve Account equal to one (1) day of interest on the Trust Loan at the Net Trust Note Rate, which is equal to $20,249.33.
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Related to Initial Interest Deposit Amount

  • Initial Deposit Amount means the Issuing Entity’s deposit to the Reserve Account, on or before the Closing Date, of $[•].

  • Additional Interest Amount means, with respect to Trust Securities of a given Liquidation Amount and/or a given period, the amount of Additional Interest paid by the Depositor on a Like Amount of Notes for such period.

  • Initial Interest Rate means, as of any date of determination, (a) with respect to each A Note, the Initial Note A Interest Rate and (b) with respect to each B Note, the Initial Note B Interest Rate.

  • Actual Interest Amount is defined in Section 3.1(b)(vii) of this Agreement.

  • Transfer Deposit Amount has the meaning given to it in Section 2.02(b).

  • Principal Payment Amount For any Distribution Date, an amount equal to the related Principal Remittance Amount for such date minus the related Overcollateralization Release Amount, if any, for such date.

  • Interest Amount means, in relation to a Note and an Interest Period, the amount of interest payable in respect of that Note for that Interest Period;

  • Deposit Amount is the amount GLAIC credits to the Accumulation Fund on the Deposit Date as set forth in the Accumulation Fund Schedule.

  • Accumulation Amount means $83,333,333.34; provided, however, if the commencement of the Accumulation Period is delayed in accordance with Section 2.11 hereof, the Accumulation Amount shall be determined in accordance with the definition of “Accumulation Amount” in the Indenture Supplement.

  • Class Optimal Interest Distribution Amount With respect to any Distribution Date and interest-bearing Class, the sum of (i) one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class, on the related Class Certificate Balance or Notional Amount, as applicable, immediately prior to such Distribution Date, subject to reduction pursuant to Section 4.02(d), and (ii) any Class Unpaid Interest Amounts for such Class.

  • Reserve Account Deposit Amount means, with respect to any Distribution Date, the lesser of (x) the excess of (i) the Specified Reserve Balance over (ii) the amount on deposit in the Reserve Account on such Distribution Date, after taking into account the amount of any Reserve Account Withdrawal Amount on such Distribution Date and (y) the amount remaining in the Collection Account after taking into account the distributions therefrom described in clauses (i) through (xviii) of Section 5.7(a).

  • Monthly Principal Reallocation Amount means, for any Monthly Period, an amount equal to the sum of:

  • Collateral Interest Amount As of any date of determination, without duplication, the aggregate amount of Interest Proceeds that has been received or that is expected to be received (other than Interest Proceeds expected to be received from Defaulted Obligations, but including Interest Proceeds actually received from Defaulted Obligations), in each case during the Collection Period in which such date of determination occurs (or after such Collection Period but on or prior to the related Payment Date if such Interest Proceeds would be treated as Interest Proceeds with respect to such Collection Period).

  • Advance Interest Amount means interest payable on Advances, as specified in the Servicing Agreement or Non-Lead Securitization Servicing Agreement, as applicable.

  • Daily Interest Amount means an amount calculated by multiplying the Daily Loan Balance of a Loan by the associated Daily Interest Rate on that Loan.

  • Initial Reserve Account Deposit Amount means an amount equal to $1,554,404.20.

  • Excess Interest Amount means, on any date, the amount by which (i) the amount of all interest which would have accrued prior to such date on the principal of this Note, had the applicable Contract Rate at all times been in effect without limitation by the Maximum Rate, exceeds (ii) the aggregate amount of interest accrued on this Note on or prior to such date as limited by the Maximum Rate.

  • Monthly Excess Interest Amount With respect to each Distribution Date, the amount, if any, by which the Interest Funds for such Distribution Date exceeds the aggregate amount distributed on such Distribution Date pursuant to Section 4.04(b) (other than the last clause thereof).

  • Required Daily Deposit Target Finance Charge Amount means, for any day in a Due Period, an amount equal to the Class A Tranche Interest Allocation for the related Distribution Date; provided, however, that for purposes of determining the Required Daily Deposit Target Finance Charge Amount on any day on which the Class A Tranche Interest Allocation cannot be determined because the LIBOR Determination Date for the applicable Interest Accrual Period has not yet occurred, the Required Daily Deposit Target Finance Charge Amount shall be the Class A Tranche Interest Allocation determined based on a pro forma calculation made on the assumption that LIBOR will be LIBOR for the applicable period determined on the first day of such calendar month, multiplied by 1.25.

  • Principal Payment Date means, if applicable, each date designated as such in the Series Term Sheet.

  • Assumed Interest Amount With respect to any Distribution Date and Class of Subordinated Certificates, one month's interest accrued during the related Interest Accrual Period at the Pass-Through Rate for such Class on the applicable Assumed Balance immediately prior to that Distribution Date.

  • Class A Additional Interest shall have the meaning specified in subsection 4.02(a).

  • PIK Interest Amount means, in respect of any Interest Payment Date, the amount of interest accrued during an Interest Period calculated based on the PIK Interest Rate applicable during such Interest Period.

  • Closing Payment Amount shall have the meaning set forth in Section 3.1(a).

  • Class C Additional Interest is defined in Section 4.1(c).

  • Senior Principal Payment Amount For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the Class Principal Balance of the Senior Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 57.60% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Initial Cut-off Date (including amounts in the Prefunding Account as of the Closing Date).