Principal Deficiency Ledger. 8.1 The Issuer Cash Manager shall record as a debit to the Principal Deficiency Ledger (and shall identify whether such debit has resulted from (a) or (b) below): (a) principal deficiencies arising from Losses on the Mortgage Loans which have been allocated by the Mortgages Trustee to the Issuer Share of the Trust Property (which shall include, at any time when the Seller Share is equal to zero, any set-off losses incurred in respect of the Mortgage Loans in the Mortgage Portfolio); (b) the use of Issuer Available Principal Receipts to make up a Revenue Shortfall; and (c) any VM Issuer Account Loss to the extent constituting an Issuer Principal Receipts Reduction.
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Samples: Issuer Cash Management Agreement
