Liquidation Proceeds. Amounts after deduction of amounts reimbursable under Section 3.05(a)(i) and (ii) received and retained in connection with the liquidation of defaulted Mortgage Loans, whether through foreclosure or otherwise. Loan-to-Value Ratio: The original principal amount of a Mortgage Loan divided by the Original Value; provided, however, that references to “current Loan-to-Value Ratio” or “Loan-to-Value Ratio as of the Cut-Off Date” in Section 2.08 shall be deemed to mean the then current Principal Balance of a Mortgage Loan divided by the Original Value.
Appears in 7 contracts
Samples: Pooling and Servicing Agreement (Wamu Mortage Pass Thru Cert Series 2003-Ar3), Pooling and Servicing Agreement (Wamu Mortgage Pass Through Certificates Series 2003-S2), Pooling and Servicing Agreement (Wamu Mortgage Pass-Through Certificates Series 2003-S7)
