Realised Losses means, on any relevant Quarterly Payment Date, the sum of (a) with respect to the Mortgage Receivables in respect of which the Seller, the Pool Servicer on behalf of the Issuer, the Issuer or the Security Trustee has foreclosed during the immediately preceding Quarterly Calculation Period the amount of the difference between (i) the aggregate Outstanding Principal Amount of all Mortgage Receivables, in respect of which the Seller, the Defaulted Loan Servicer or the Pool Servicer on behalf of the Issuer, the Seller, the Issuer or the Security Trustee has foreclosed on such Quarterly Calculation Date and (ii) the amount of the Net Proceeds applied to reduce the Outstanding Principal Amount of the Mortgage Receivables during such Quarterly Calculation Period, and (b) with respect to Mortgage Receivables sold by the Issuer during such Quarterly Calculation Period, the amount of the difference, if any, between (i) the aggregate Outstanding Principal Amount of such Mortgage Receivables and (ii) the purchase price received in respect of the Mortgage Receivables sold to the extent relating to the principal during such Quarterly Calculation Period, and (c) with respect to the Mortgage Receivables in respect of which the Borrower has successfully asserted set-off or defence to payments during such Quarterly Calculation Period, the amount by which the Mortgage Receivables have been extinguished ("teniet gegaan") unless and to the extent such amount is received from the Seller pursuant to item (iii) of the Notes Redemption Available Amount. For the purpose of calculating a Realised Loss in respect of a CHF Mortgage Receivable, on such Quarterly Payment Date the amounts under (a), (b) and (c) will be converted into a euro amount by multiplying the amount in CHF with the EUR-CHF Exchange Rate. HEDGING AGREEMENTS Interest Rate Hedging for EUR Mortgage Receivables The Mortgage Loan Criteria require that the interest rate of each of the EUR Mortgage Receivables sold and assigned to the Issuer at the Closing Date is either fixed, subject to reset from time to time, or variable (as further described in chapter Description of the Mortgage Loans below). The interest rate payable by the Issuer with respect to the Notes is calculated as a margin over Euribor. The Issuer will mitigate this interest rate exposure by entering into the Interest Rate Swap Agreement with the Interest Rate Swap Counterparty and the Security Trustee. Under the Interest Rate Swap Agreement, the Issuer wi...
Realised Losses means, on any relevant Calculation Date, the sum of (a) with respect to the Mortgage Receivables in respect of which the relevant Seller, the relevant Pool Servicer on behalf of the Issuer, the Issuer or the Security Trustee has foreclosed from the Initial Closing Date up to and including the immediately preceding Calculation Period of the difference between (i) the aggregate Outstanding Principal Amount of such Mortgage Receivables less, with respect to the Savings Mortgage Receivables which are subject to a Participation, the Participations, and (ii) the amount of the Net Proceeds applied to reduce the Outstanding Principal Amount of such Mortgage Receivables less, with respect to Savings Mortgage Receivables which are subject to a Participation, the Participations; and (b), with respect to the Mortgage Receivables sold by the Issuer, the amount of the difference, if any, between (i) the aggregate Outstanding Principal Amount of such Mortgage Receivables, less, with respect to Savings Mortgage Receivables which are subject to a Participation, the Participations, and (ii) the purchase price of the Mortgage Receivables sold to the extent relating to
Realised Losses means, in respect of any period, the sum of (a) the amount of the difference between (y) the aggregate Outstanding Principal Amount in respect of all Mortgage Receivables in respect of which the relevant Seller, the Pool Servicer or the Asset Purchaser has foreclosed in such period, less with respect to the Savings Mortgage Receivables, Hybrid Savings Mortgage Receivables and Bank Savings Mortgage Receivable which are subject to a Savings Participation or Bank Savings Participation, as applicable, the relevant Participations and (z) the amount of the Net Proceeds applied to reduce the Outstanding Principal Amount of such Mortgage Receivables, less with respect to the Savings Mortgage Receivables and Hybrid Savings Mortgage Receivables, the Participations, and (b), with respect to the Mortgage Receivables sold by the Asset Purchaser, the amount of the difference, if any, between (y) the aggregate Outstanding Principal Amount of the Mortgage Receivables less with respect to the Savings Mortgage Receivables and Hybrid Savings Mortgage Receivables, the Participations, and (z) the purchase price of the Mortgage Receivables sold to the extent relating to principal less with respect to the Savings Mortgage Receivables and Hybrid Savings Mortgage Receivables, the Participations, and (c) with respect to the Mortgage Receivables in respect of which the Borrower has (i) successfully asserted set-off or defence to payments or (ii) repaid or prepaid any amounts, in both cases the amount by which the Mortgage Receivables have been extinguished ("teniet gegaan") unless, and to the extent, such amount is received from the relevant Seller or otherwise pursuant to any of items (i), (iv), (v) or (vii) of the Asset Purchaser Principal Available Amount. Interest Rate HedgingThe Mortgage Loans bear a fixed rate of interest, which is subject to a reset from time to time, or a floating rate of interest. The IC Loans bear a floating interest rate. The Asset Purchaser will hedge its interest rate exposure by entering into the Asset Purchaser Cashflow Swap Agreement with the Asset Purchaser Cashflow Swap Counterparty on the Programme Closing Date or the relevant Asset Purchaser Accession Date. Under the Asset Purchaser Cashflow Swap Agreement, the Asset Purchaser will agree to pay on each Note Payment Date amounts equal to the sum of:
Examples of Realised Losses in a sentence
The Issuer will report the Mortgage Receivables in arrears and the Realised Losses in respect thereof in the Notes and Cash Report on an aggregate basis.
Investors should be aware that the Realised Losses reported may not reflect all losses that already have occurred or are expected to occur, because a Realised Loss is recorded, inter alia, only after the Servicer has determined that foreclosure of the Mortgage and other collateral securing the Mortgage Receivable has been completed which process may take a considerable amount of time and may not necessarily be in line with the policies of other originators in the Dutch market.
Any Realised Losses (as calculated by the Servicer and included in the Servicer Report) and Principal Addition Amounts (as calculated by the Cash Administrator) will be allocated to the Notes and recorded as a debit to the relevant Principal Deficiency Ledger.
Principal deficiency ledgers will be established on behalf of the Issuer by the Administrator in respect of the Class A Notes (Class A Principal Deficiency Ledger), and the Class B Notes (Class B Principal Deficiency Ledger, and together with the Class A Principal Deficiency Ledger, the Principal Deficiency Ledgers) in order to record any Realised Losses incurred on the SME Receivables.
More Definitions of Realised Losses
Realised Losses means, on any relevant Notes Calculation Date, the sum of (a) with respect to the Mortgage Receivables in respect of which the relevant Seller or the Servicer on behalf of the Issuer, the Issuer or the Security Trustee has foreclosed from the Closing Date up to and including the immediately preceding Notes Calculation Period the amount of difference between (i) the aggregate Outstanding Principal Amount of all Mortgage Receivables, and (ii) the amount of the Net Foreclosure Proceeds applied to reduce the Outstanding Principal Amount of the Mortgage Receivables; and (b), with respect to the Mortgage Receivables sold by the Issuer, the amount of the difference, if any, between (i) the aggregate Outstanding Principal Amount of such Mortgage Receivables, and (ii) the purchase price of the Mortgage Receivables sold to the extent relating to principal; and (c) with respect to the Mortgage Receivables in respect of which the Borrower has successfully asserted set-off or defence to payments, the amount by which the Mortgage Receivables have been extinguished ("teniet gegaan") unless, and to the extent, such amount is received from the relevant Seller.
Realised Losses means your profits or losses (as appropriate) which result on expiry or closure of an Open Position
Realised Losses means, on any Quarterly Payment Date, the sum of (a) the amount of the difference between
Realised Losses means, on any Quarterly Payment Date, the sum of (a) the difference, if any, between (i) the aggregate Outstanding Principal Amount of all NHG Mortgage Receivables, less, with respect to Savings NHG Mortgage Receivables, the Participations, in respect of which the Seller, the MPT Provider on behalf of the Issuer, the Issuer or the Security Trustee has foreclosed from the Closing Date up to and including such Quarterly Payment Date and (ii) the amount of Net Proceeds applied to reduce the Outstanding Principal Amount of such NHG Mortgage Receivables less the Participations and (b), with respect to NHG Mortgage Receivables sold by the Issuer, the difference, if any, between (i) the aggregate Outstanding Principal Amount of such NHG Mortgage Receivables, less, with respect to Savings NHG Mortgage Receivables, the Participations, and (ii) the purchase price of the NHG Mortgage Receivables sold to the extent relating to principal less, with respect to Savings NHG Mortgage Receivables, the Participations, whereby, in case of items (a) and (b), for the purpose of establishing the Outstanding Principal Amount in case of set-off or defence to payments asserted by Borrowers any amount by which the NHG Mortgage Receivables have been extinguished ("teniet gegaan") will be disregarded. The term "foreclosed" includes any lawful manner of generating proceeds from the Green Apple 2007-I NHG Portfolio, whether by public auction, by private sale or otherwise. Interest Rate HedgingThe Mortgage Loan Criteria require that all Mortgage Loans bear a floating rate of interest or a fixed rate of interest subject to a reset from time to time. The interest rate payable by the Issuer with respect to the Notes is calculated for all Notes as a margin over Euribor. On the first Optional Redemption Date the margin on the Notes will be reset and shall increase. The Issuer will mitigate this interest rate exposure in respect of the Notes by entering into the Swap Agreement with the Swap Counterparty and the Security Trustee. Under the Swap Agreement, the Issuer will agree to pay on each Quarterly Payment Date an amount being the sum of:
Realised Losses and “realised profits” means the losses or profits of the business carried on by the body as fall to be treated as realised in accordance with generally accepted accounting practice;
Realised Losses means, on any relevant Quarterly Payment Date, the sum of
Realised Losses means, on any relevant Calculation Date, the sum of (a) the amount of the difference between (i) the aggregate outstanding principal amount of all Mortgage Receivables, less, with respect to the Savings Mortgage Receivables with the Savings Alternative, the Participations, in respect of which the relevant Seller, the relevant Pool Servicer on behalf of the Issuer, the Issuer or the Security Trustee has foreclosed from the Closing Date up to and including such Calculation Date and