Combined Loan. TO-VALUE RATIO.................................................................................17
Combined Loan to-Value Ratio...................................6
Combined Loan to-Value Ratio or CLTV: As to any Second Lien Loan, the ratio, expressed as a percentage, of the (a) sum of (i) the original outstanding principal balance of the Second Lien Loan and (ii) the outstanding principal balance of any mortgage loan or mortgage loans that are senior or equal in priority to the Second Lien Loan and which are secured by the same Mortgaged Property as of the origination date at such Second Lien Loan to (b) the Appraised Value of the related Mortgaged Property as of the origination of the Second Lien Loan.
Combined Loan. To-Value Ratio or CLTV........................... 9 Commission..................................................... 10
Combined Loan to-Value Ratio ---------------------------- With respect to any Loan and as to any date of determination, the fraction, expressed as a percentage, the numerator of which is the principal balance of such Loan at the date of origination plus, in the case of a Second Lien Loan, the outstanding principal balance of the related first lien mortgage loan on the date of origination of such Second Lien Loan, and the denominator of which is the Collateral Value of the related Mortgaged Property. Corporate Trust Office ---------------------- The designated office of the Trustee in the State of New York at which at any particular time its corporate trust business with respect to this Agreement shall be administered, which office at the date of the execution of this Agreement is located at 4 New York Plaza, 6th Floor, New York, New York 10004 (Attention: Xxxxxxxxxxxxx Xxxxx Xxxxxxxx, Xxxxxx Xxx 0000-0, xxcsimile number: 212-623-5930) and which is the address to which notices to and correspondence with the Trustee should be directed. However, for purposes of Section 3.20 of this Agreement such term shall mean the office of the Mortgage Insurance Co-Trustee, located at 101 California Street, Suite 3800, San Francisco, CA 94111, or xxxx xxxxx xxxxxx xx xxx Xxxxxxxx Xxxxxxxxx Xx-Xxxxxxx xxxxx xesignate. Corresponding Class ------------------- As defined in the Preliminary Statement. Counterparty ------------ Wachovia Bank, National Association, a national banking association. Covered Loan ------------ A mortgage loan identified on the Loan Schedule as being covered by the MGIC Policy. Custodial Agreement ------------------- As defined in Section 8.13. Custodian --------- As defined in Section 8.13. Cut-off Date ------------ June 30, 2003. Cut-off Date Group I Principal Balance -------------------------------------- The aggregate of the Cut-off Date Principal Balances of the Group I Loans as of the close of business on the Cut-off Date ($483,806,871.24). Cut-off Date Group I-A Principal Balance ---------------------------------------- The aggregate of the Cut-off Date Principal Balances of the Group I-A Loans as of the close of business on the Cut-off Date ($281,227,735.08). Cut-off Date Group I-B Principal Balance ---------------------------------------- The aggregate of the Cut-off Date Principal Balances of the Group I-B Loans as of the close of business on the Cut-off Date ($202,579,136.16). Cut-off Date Group II Principal Balance ---------------------------------------...
Combined Loan. The parties agree that the unpaid principal amount of the First Loan of Six Hundred Thousand ($600,000) U.S. Dollars (“Unpaid Principal Amount”) shall be combined with the outstanding principal amount of the Second Loan of Four Hundred Thousand ($400,000) U.S. Dollars (the “Combined Loan”) and that total aggregate amount of both loans currently due for repayment by the Borrower shall be One Million ($1,000,000) U.S. Dollars (“Combined Principal Amount”). The Combined Principal Amount shall be, absent manifest error, constituting in aggregate the prima facie evidence of the total principal amount issued to the Borrower, provided, however, the failure to record any such amount or any error in recording such amount shall not limit or otherwise affect the obligations of the Borrower to repay such amount to the Lender. The Borrower may repay the Combined Principal Amount in any incremental amounts from time to time at the Borrower’s discretion on or before the New Maturity Date, provided however that the aggregate sum of such incremental amounts shall be equal to the Combined Principal Amount. The Borrower hereby specifically acknowledges its responsibility to repay the entire Unpaid Principal Amount in cash.
Combined Loan to-Value--Combined Loan-to-Value means that ratio, expressed as a percentage, equal to
Combined Loan to-Value Ratio: ---------------------------- With respect to any Mortgage Loan and any date, the percentage equivalent of a fraction, the numerator of which is the sum of (i) the greater of (x) the Credit Limit and (y) the Cut-off Date Asset Balance of such Mortgage Loan and (ii) the outstanding principal balance as of the date of the origination of such Mortgage Loan (or any subsequent date as of which such outstanding principal balance may be determined in connection with an increase or decrease in the Credit Limit or to reduce the amount of primary insurance for such Mortgage Loan) of any mortgage loan or mortgage loans that are secured by liens on the Mortgaged Property that are senior or subordinate to the Mortgage and the denominator of which is the Appraised Value of the related Mortgaged Property. Corporate Trust Office: ---------------------- With respect to the Indenture Trustee, Certificate Registrar, Certificate Paying Agent and Paying Agent, the principal corporate trust office of the Indenture Trustee and Note Registrar at which at any particular time its corporate trust business shall be admin- istered, which office at the date of the execution of this instrument is located at (______________), except that for purposes of Section 4.02 of the Indenture and Section 3.09 of the Trust Agreement, such term shall include the Indenture Trustee's office or agency at (__________) to the Owner Trustee, the principal corporate trust office of the Owner Trustee at which at any particular time its corporate trust business shall be administered, which office at the date of the execution of this Trust Agreement is located at (___________), Attention: (__________________). (Credit Enhancement Draw Amount: ------------------------------ As defined in Section 3.32 of the Indenture. Credit Enhancement Instrument: ----------------------------- The security bond number (__________), dated as of the Closing Date, issued by the Credit Enhancer to the Indenture Trustee for the benefit of the Noteholders and to the Certificate Paying Agent as agent for the Issuer for the benefit of the Certificateholders.
Combined Loan. TO-VALUE RATIO or CLTV....................................... COMMISSION.................................................................
Combined Loan. TO-VALUE means that ratio, expressed as a percentage, equal to:
