Common use of Liquidation Realized Loss Determination Clause in Contracts

Liquidation Realized Loss Determination. With respect to the calculation of a Realized Loss suffered on the related Mortgage Loan on a Liquidation of such Mortgage Loan, the amount of such Realized Loss is equal to (a) the sum of: (i) Unpaid Principal Balance; (ii) unpaid interest accrued at the related Mortgage Interest Rate; (iii) attorneys' fees and other foreclosure and sale expenses; (iv) unpaid taxes; (v) unpaid property maintenance expenses; (vi) unpaid insurance premiums; and (vii) hazard loss expenses; less the sum of: (i) the balance of Escrow Funds, if any; (ii) any refund of any Hazard Insurance premium; (iii) rental income receipts; (iv) Insurance Proceeds or PMI Advances; (v) cash proceeds of any foreclosure sale; (vi) proceeds from sale of a REO; and (vii) any amounts received pursuant to bankruptcy or insolvency proceedings.

Appears in 36 contracts

Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-16 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2008-Ar2 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-Ar3 Trust)

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Liquidation Realized Loss Determination. With respect to the calculation of a Realized Loss suffered on the related Mortgage Loan on a Liquidation of such Mortgage LoanLoan or pursuant to Section 17.7.3, the amount of such Realized Loss is equal to (a) the sum of: (i) Unpaid Principal Balance; (ii) unpaid interest accrued at the related Mortgage Interest Rate; (iii) attorneys' fees and other foreclosure and sale expenses; (iv) unpaid taxes; (v) unpaid property maintenance expenses; (vi) unpaid insurance premiums; and (vii) hazard loss expenses; less the sum of: (i) the balance of Escrow Funds, if any; (ii) any refund of any Hazard Insurance premium; (iii) rental income receipts; (iv) Insurance Proceeds or PMI Advances; (v) cash proceeds of any foreclosure sale; (vi) proceeds from sale of a REO; and (vii) any amounts received pursuant to bankruptcy or insolvency proceedings.

Appears in 34 contracts

Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-7 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-6 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar13 Trust)

Liquidation Realized Loss Determination. With respect to the calculation of a Realized Loss suffered on the related Mortgage Loan on a Liquidation of such Mortgage LoanLoan or pursuant to Section 17.7.3, the amount of such Realized Loss is equal to (a) the sum of: (i) Unpaid Principal Balance; (ii) unpaid interest accrued at the related Mortgage Interest Rate; (iii) attorneys' fees and other foreclosure and sale expenses; (iv) unpaid taxes; (v) unpaid property maintenance expenses; (vi) unpaid insurance premiums; and and (vii) hazard loss expenses; less the sum of: (i) the balance of Escrow Funds, if any; (ii) any refund of any Hazard Insurance premium; (iii) rental income receipts; (iv) Insurance Proceeds or PMI Advances; (v) cash proceeds of any foreclosure sale; (vi) proceeds from sale of a REO; and (vii) any amounts received pursuant to bankruptcy or insolvency proceedings.

Appears in 2 contracts

Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-16 Trust), Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-Ar18 Trust)

Liquidation Realized Loss Determination. With respect to the calculation of a Realized Loss suffered on the related Mortgage Loan on a Liquidation of such Mortgage LoanLoan or pursuant to Section 17.7.3, the amount of such Realized Loss is equal to (a) the sum of: (i) Unpaid Principal Balance; (ii) unpaid interest accrued at the related Mortgage Interest Rate; (iii) attorneys' fees and other foreclosure and sale expenses; (iv) unpaid taxes; (v) unpaid property maintenance expenses; (vi) unpaid insurance premiums; and (vii) hazard loss expenses; less the sum of: (i) the balance of Escrow Funds, if any; (ii) any refund of any Hazard Insurance premium; (iii) rental income receipts; (iv) Insurance Proceeds or PMI Advances; (v) cash proceeds of any foreclosure sale; ; (vi) proceeds from sale of a REO; and (vii) any amounts received pursuant to bankruptcy or insolvency proceedings.

Appears in 1 contract

Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2006-3 Trust)

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Liquidation Realized Loss Determination. With respect to the calculation of a Realized Loss suffered on the related Mortgage Loan on a Liquidation of such Mortgage LoanLoan or pursuant to Section 17.7.3, the amount of such Realized Loss is equal to (a) the sum of: (i) Unpaid Principal Balance; (ii) unpaid interest accrued at the related Mortgage Interest Rate; (iii) attorneys' ’ fees and other foreclosure and sale expenses; (iv) unpaid taxes; (v) unpaid property maintenance expenses; (vi) unpaid insurance premiums; and (vii) hazard loss expenses; less the sum of: (i) the balance of Escrow Funds, if any; (ii) any refund of any Hazard Insurance premium; (iii) rental income receipts; (iv) Insurance Proceeds or PMI Advances; (v) cash proceeds of any foreclosure sale; (vi) proceeds from sale of a REO; and (vii) any amounts received pursuant to bankruptcy or insolvency proceedings.

Appears in 1 contract

Samples: Servicing Agreement (Wells Fargo Asset Securities Corp)

Liquidation Realized Loss Determination. With respect to the calculation of a Realized Loss suffered on the related Mortgage Loan on a Liquidation of such Mortgage Loan, the amount of such Realized Loss is equal to (a) the sum of: (i) Unpaid Principal Balance; (ii) unpaid interest accrued at the related Mortgage Interest Rate; (iii) attorneys' fees and other foreclosure and sale expenses; (iv) unpaid taxes; (v) unpaid property maintenance expenses; (vi) unpaid insurance premiums; and (vii) hazard loss expenses; less the sum of: (i) the balance of Escrow Funds, if any; (ii) any refund of any Hazard Insurance premium; (iii) rental income receipts; (iv) Insurance Proceeds or PMI Advances; (v) cash proceeds of any foreclosure sale; (vi) proceeds from sale of a REO; and and (vii) any amounts received pursuant to bankruptcy or insolvency proceedings.

Appears in 1 contract

Samples: Servicing Agreement (Wells Fargo Mortgage Backed Securities 2007-15 Trust)

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