Principal Ledger Sample Clauses

Principal Ledger. The Cash Manager shall ensure that: (a) all Principal Receipts shall be credited to the Principal Ledger; and (b) any payment or provision made under paragraph 4 herein shall be debited to the Principal Ledger.
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Principal Ledger. Without prejudice to paragraph 17 below, the Cash Manager shall ensure that: (a) the following amounts shall be credited to the Funding 1 Principal Ledger: (i) all Funding 1 Principal Receipts; and (ii) amounts credited to the Principal Deficiency Ledger under paragraph 5 above and paragraph 17 below; and (b) the following amounts shall be debited to the Funding 1 Principal Ledger: (i) the aggregate amount of principal repaid on the Intercompany Loan Agreement pursuant to paragraph 6 above; and (ii) on each Funding 1 Interest Payment Date, an amount equal to the Funding 1 Income Deficit on such Funding 1 Interest Payment Date.
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Principal Ledger. Without prejudice to paragraph 20 below, the Cash Manager shall ensure that:
Sample 1Sample 2Sample 3See All (4)
Principal Ledger. The Cash Manager shall ensure that: (a) the following shall be credited to the Principal Ledger: (i) all Principal Receipts; (ii) the proceeds of any Term Advance (where such proceeds have not been applied to acquire New Portfolios, refinance an existing Term Advance or invest in Substitution Assets); (iii) the proceeds received from any sale of Loans to the extent that such proceeds represent principal but excluding principal received under the Covered Bond Swap Agreements; (iv) the amount of any termination payment received from a Swap Provider which is not applied to acquire a replacement for the relevant terminated Swap; (v) any amount to be transferred to the Principal Ledger from the Supplemental Liquidity Reserve Ledger in accordance with paragraph 15 below, and (b) any payment or provision made under the Pre-Acceleration Principal Priority of Payments or made under paragraph 5 above (but only to the extent that such payment made under paragraph 5 has been recorded as a receipt on the Principal Ledger), shall be debited to the Principal Ledger.
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Principal Ledger. The Cash Manager shall ensure that:
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Principal Ledger. The Trust Property Cash Manager shall ensure that: (a) the Principal Ledger shall separately reflect all Principal Receipts (excluding enforcement proceeds relating to All Monies Mortgages, to the extent they are provided for in paragraph 9(b) below) standing to the credit of the Mortgages Trustee Transaction Accounts and the VM Mortgages Trustee Account or invested in Permitted Investments from time to time and distribution of the same to the Issuer and the Seller; (b) enforcement proceeds released from the All Monies Mortgage Trust and designated as principal in accordance with paragraph 15 (All Monies Mortgage Enforcement Proceeds Ledger) of this Schedule, shall be recorded as a credit to the Principal Ledger; and (c) on each Trust Calculation Date all amounts debited from the Trust Replenishment Ledger shall be recorded as a credit to the Principal Ledger; (d) any payment or provision made under paragraph 4 herein shall be recorded as a debit to the Principal Ledger.
Sample 1
Principal Ledger. The Cash Manager shall ensure that: (a) the following amounts shall be credited to the Funding 2 Principal Ledger: (i) all Funding 2 Principal Receipts (after application of Funding 2 Principal Receipts towards the Cash Accumulation Requirement); (ii) amounts credited to the Funding 2 Principal Deficiency Ledger under paragraph 26(b) herein; and (b) the following amounts shall be debited to the Funding 2 Principal Ledger: (i) the aggregate amount of principal repaid on the Funding 2 Intercompany Loan Agreements (excluding principal repaid from Funding 2 Principal Receipts, credited to the Funding 2 Cash Accumulation Ledger) pursuant to paragraph 8 (Priority of Payments for Funding 2 Available Principal Receipts) herein, excluding the amount of any principal repaid which is debited to the Funding 2 Cash Accumulation Ledger; (ii) the aggregate amount of Funding 2 Principal Receipts (other than Funding 2 Principal Receipts credited to the Funding 2 Cash Accumulation Ledger) used to meet any deficiency in Funding 2 Available Revenue Receipts.
Sample 1
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Principal Ledger. The Cash Manager shall ensure that: (a) all Principal Receipts are credited to the Principal Ledger; and (b) any payment or provision made under paragraph 4 )Priority of Payments for Mortgages Trust Available Principal Receipts) above are debited to the Principal Ledger; and (c) any principal amounts which cannot be withdrawn from the Mortgages Trustee GIC Account while such amounts are collateralised pursuant to clause 4.12 (Collateral Posting) of the Cash Management Agreement (including, without limitation, in the event of a moratorium on insolvency, bank insolvency, administration or bank administration of the Mortgages Trustee Account Bank or Santander UK being unable to pay these amounts) cease to constitute Mortgages Trust Available Principal Receipts and are debited to the Principal Ledger.
Sample 1
Principal Ledger. 2.1 Without prejudice to Paragraph 3 (Principal Deficiency Ledger) below, the Cash Manager shall ensure that: (A) it shall record as a credit to the Principal Xxxxxx, the following amounts: (1) all Principal Receipts; (2) the amounts (if any) to be credited to the Principal Deficiency Ledger pursuant to items (E) and/or (G) of the Pre-Enforcement Revenue Priority of Payments on such Interest Payment Date; (3) in respect of any Interest Payment Date following a Determination Period, if the Reconciliation Amount in respect of the relevant Determination Period is a positive number, an amount equal to the absolute value of such Reconciliation Amount, as determined in accordance with Condition 4.3(J) (Determinations and Reconciliation); and (4) any amount standing to the credit of the Pre-Funding Ledger on the Additional Mortgage Portfolio Longstop Date, to the extent not applied by the Issuer to purchase the Additional Mortgage Portfolio on or before such date; (B) it shall record as a debit to the Principal Xxxxxx, the following amounts: (1) amounts equal to the Available Principal Receipts transferred to the Transaction Account to be applied under the Pre-Enforcement Principal Priority of Payments or the Post-Enforcement Priority of Payments (as applicable); (2) the amount of Principal Receipts applied as Principal Deficiency Excess Revenue Amounts pursuant to item (C) of the definition of Available Revenue Receipts; and (3) amounts used to fund any Further Advances granted during the immediately preceding such Collection Period. 2.2 On each Calculation Date, the Cash Manager will calculate the then current balance of the Principal Deficiency Ledger and will apply Available Revenue Receipts to cure any debit entries on the following Interest Payment Date. If, on any Interest Payment Date, the Principal Deficiency Ledger has an aggregate credit balance, for example, as a result of Mortgage Loans in arrears being subsequently found to have been fully or partially cured after Available Revenue Receipts have been applied to cure the Principal deficiency created thereto (the “Principal Deficiency Excess”), an amount of Available Principal Receipts equal to such Principal Deficiency Excess shall form part of the Available Revenue Receipts on such Interest Payment Date, such amounts being Principal Deficiency Excess Revenue Amounts.
Sample 1

Related to Principal Ledger

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Custodial Accounts; Distribution Account (a) On or prior to the Closing Date, the Master Servicer shall have caused each Servicer to establish and maintain one or more Custodial Accounts, as provided in the related Purchase and Servicing Agreement, into which all Scheduled Payments and unscheduled payments with respect to the related Mortgage Loans, net of any deductions or reimbursements permitted under the related Purchase and Servicing Agreement, shall be deposited. On each Distribution Account Deposit Date, the Servicers shall remit to the Securities Administrator for deposit into the Distribution Account, all amounts so required to be deposited into such account in accordance with the terms of the related Purchase and Servicing Agreements. (b) The Securities Administrator, as Paying Agent for the Trust, shall establish and maintain an Eligible Account entitled “Distribution Account of Xxxxx Fargo Bank, N.A., as Securities Administrator for the benefit of Xxxxxx Xxxxxxx Mortgage Loan Trust 2007-10XS, Holders of Mortgage Pass-Through Certificates.” The Securities Administrator shall, promptly upon receipt from the Servicers on each related Distribution Account Deposit Date, deposit into the Distribution Account and retain on deposit until the related Distribution Date the following amounts: (i) the aggregate of collections with respect to the Mortgage Loans remitted by the Servicers from the related Custodial Accounts in accordance with the Purchase and Servicing Agreements; (ii) any amounts required to be deposited by the Master Servicer with respect to the Mortgage Loans for the related Due Period pursuant to this Agreement, including the amount of any Advances or Compensating Interest Payments with respect to the Mortgage Loans not paid by the Servicers; and (iii) any other amounts so required to be deposited in the Distribution Account in the related Due Period pursuant to this Agreement. (c) In the event the Master Servicer or a Servicer has remitted in error to the Distribution Account any amount not required to be remitted in accordance with the definition of Available Distribution Amount, it may at any time direct the Securities Administrator to withdraw such amount from the Distribution Account for repayment to the Master Servicer or Servicer, as applicable, by delivery of an Officer’s Certificate to the Securities Administrator and the Trustee which describes the amount deposited in error.

  • Principal Funding Account (a) The Trustee, or the Servicer, on its behalf, shall establish and maintain, in the name of the Trust, on behalf of the Trust, for the benefit of the Certificateholders, an Eligible Deposit Account (the "Principal Funding Account"), bearing a designation clearly indicating that the funds deposited therein are held for the benefit of the Certificateholders. The Trustee shall possess all right, title and interest in all funds on deposit from time to time in the Principal Funding Account and in all proceeds thereof. The Principal Funding Account shall be under the sole dominion and control of the Trustee for the benefit of the Certificateholders. If at any time the Principal Funding Account ceases to be an Eligible Deposit Account, the Transferor shall notify the Trustee, and the Trustee upon being notified (or the Servicer on its behalf) shall, within 10 Business Days, establish a new Principal Funding Account which meets the conditions specified in the definition of Eligible Deposit Account, and shall transfer any cash or any investments to such new Principal Funding Account. The Trustee or the Paying Agent, at the direction of the Servicer, shall (i) make withdrawals from the Principal Funding Account from time to time, in the amounts and for the purposes set forth in this Series Supplement, and (ii) on each Transfer Date (from and after the commencement of the Controlled Accumulation Period) prior to termination of the Principal Funding Account make a deposit into the Principal Funding Account in the amount specified in, and otherwise in accordance with, subsection 4.9(c). (b) Funds on deposit in the Principal Funding Account shall be invested at the direction of the Servicer by the Trustee or the Paying Agent in Permitted Investments. Funds on deposit in the Principal Funding Account on any Transfer Date, after giving effect to any withdrawals from the Principal Funding Account on such Transfer Date, shall be invested in such investments that will mature so that such funds will be available for withdrawal on or prior to the next succeeding Transfer Date. The Trustee or the Paying Agent shall maintain for the benefit of the Certificateholders possession of the negotiable instruments or securities, if any, evidencing such Permitted Investments. No Permitted Investment shall be disposed of prior to its maturity. On the Transfer Date occurring in the month following the commencement of the Controlled Accumulation Period, and on each Transfer Date thereafter with respect to the Controlled Accumulation Period, the Trustee or the Paying Agent, acting at the Servicer's direction given before each Transfer Date, shall transfer from the Principal Funding Account to the Finance Charge Account the Principal Funding Investment Proceeds, but not in excess of the Covered Amount, for application as Available Investor Finance Charge Collections applied pursuant to subsection 4.9(a). Any Excess Principal Funding Investment Proceeds shall be included as Available Investor Finance Charge Collections for such Transfer Date. An amount equal to any Principal Funding Investment Shortfall shall be deposited in the Finance Charge Account on each Transfer Date from the Accumulation Period Reserve Account to the extent funds are available pursuant to subsection 4.14(d) and included as Available Investor Finance Charge Collections for such Transfer Date. Principal Funding Investment Proceeds (including reinvested interest) shall not be considered part of the amounts on deposit in the Principal Funding Account for purposes of this Series Supplement.

  • Collection of Mortgage Loan Payments; Certificate Account; Distribution Account (a) The Master Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 180 days; provided, however, that the Master Servicer cannot extend the maturity of any such Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. In the event of any such arrangement, the Master Servicer shall make Advances on the related Mortgage Loan in accordance with the provisions of Section 4.1 during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law. (b) The Master Servicer shall establish and maintain the Certificate Account. The Certificate Account shall consist of two separate subaccounts, each of which shall relate to a particular Mortgage Pool. No later than two Business Days after receipt, except as otherwise specifically provided herein, the Master Servicer shall deposit or shall cause to be deposited into the applicable subaccount of the Certificate Account the following payments and collections remitted by Subservicers or received by it in respect of the Mortgage Loans in the related Mortgage Pool subsequent to the Cut-off Date (other than in respect of principal and interest due on such Mortgage Loans on or before the Cut-off Date) and the following amounts required to be deposited hereunder: (i) all payments on account of principal on the Mortgage Loans in the related Mortgage Pool, including Principal Prepayments; (ii) all payments on account of interest on the Mortgage Loans in the related Mortgage Pool, net of the related Master Servicing Fee, any Prepayment Interest Excess and, for so long as First Horizon is the Master Servicer, any Retained Yield; (iii) all Insurance Proceeds and Liquidation Proceeds in respect of the related Mortgage Loans in the related Mortgage Pool, other than proceeds to be applied to the restoration or repair of the Mortgaged Property or released to the Mortgagor in accordance with the Master Servicer's normal servicing procedures; (iv) any amount required to be deposited by the Master Servicer in respect of the related Mortgage Pool pursuant to Section 3.5(c) in connection with any losses on Permitted Investments; (v) any amounts required to be deposited by the Master Servicer in respect of the related Mortgage Pool pursuant to Section 3.9(b), 3.9(d), and in respect of net monthly rental income from any related REO Property pursuant to Section 3.11 hereof; (vi) all Substitution Adjustment Amounts in respect of the related Mortgage Pool; (vii) all Advances in respect of the related Mortgage Pool made by the Master Servicer pursuant to Section 4.1; and (viii) any other amounts required to be deposited hereunder in respect of the related Mortgage Pool. In addition, with respect to any Mortgage Loan that is subject to a buydown agreement, on each Due Date for such Mortgage Loan, in addition to the monthly payment remitted by the Mortgagor, the Master Servicer shall cause funds to be deposited into the applicable subaccount of the Certificate Account in an amount required to cause an amount of interest to be paid with respect to such Mortgage Loan equal to the amount of interest that has accrued on such Mortgage Loan from the preceding Due Date at the related Adjusted Mortgage Rate on such date. The foregoing requirements for remittance by the Master Servicer shall be exclusive, it being understood and agreed that, without limiting the generality of the foregoing, payments in the nature of prepayment penalties, late payment charges, assumption fees or amounts attributable to reimbursements of Advances, if collected, need not be remitted by the Master Servicer. In the event that the Master Servicer shall remit any amount not required to be remitted, it may at any time withdraw or direct the institution maintaining the Certificate Account to withdraw such amount from the Certificate Account, any provision herein to the contrary notwithstanding. Such withdrawal or direction may be accomplished by delivering written notice thereof to the Trustee or such other institution maintaining the Certificate Account which describes the amounts deposited in error in the Certificate Account. The Master Servicer shall maintain adequate records with respect to all withdrawals made pursuant to this Section. All funds deposited in the Certificate Account shall be held in trust for the Certificateholders until withdrawn in accordance with Section 3.8. (c) The Trustee shall establish and maintain, on behalf of the Certificateholders, the Distribution Account. The Distribution Account shall consist of two separate subaccounts, each of which shall relate to a particular Mortgage Pool. The Trustee shall, promptly upon receipt, deposit in the Distribution Account and retain therein the following: (i) the aggregate amount remitted by the Master Servicer to the Trustee in respect of a Mortgage Pool pursuant to Section 3.8(a)(ix); (ii) any amount deposited by the Master Servicer pursuant to this Section 3.5(c) in connection with any losses on Permitted Investments; and (iii) any other amounts deposited hereunder which are required to be deposited in the Distribution Account. In the event that the Master Servicer shall remit any amount not required to be remitted, it may at any time direct the Trustee to withdraw such amount from the applicable subaccount of the Distribution Account, any provision herein to the contrary notwithstanding. Such direction may be accomplished by delivering an Officer's Certificate to the Trustee which describes the amounts deposited in error in the Distribution Account. All funds deposited in the Distribution Account shall be held by the Trustee in trust for the related Certificateholders until disbursed in accordance with this Agreement or withdrawn in accordance with Section 3.8. In no event shall the Trustee incur liability for withdrawals from the Distribution Account at the direction of the Master Servicer. (iv) The institutions at which the Certificate Account and the Distribution Account are maintained shall invest funds as directed by the Master Servicer in Permitted Investments which in both cases shall mature not later than (i) in the case of the Certificate Account, the second Business Day next preceding the related Distribution Account Deposit Date (except that if such Permitted Investment is an obligation of the institution that maintains such account, then such Permitted Investment shall mature not later than the Business Day next preceding such Distribution Account Deposit Date) and (ii) in the case of the Distribution Account, the Business Day next preceding the Distribution Date (except that if such Permitted Investment is an obligation of the institution that maintains such fund or account, then such Permitted Investment shall mature not later than such Distribution Date) and, in each case, shall not be sold or disposed of prior to its maturity. All such Permitted Investments shall be made in the name of the Trustee, for the benefit of the Certificateholders. All income and gain net of any losses realized from any such investment of funds on deposit in the Certificate Account shall be for the benefit of the Master Servicer as servicing compensation and all income and gain net of any losses realized from any such investment of funds on deposit in the Distribution Account shall be for the benefit of the Trustee. The amount of any Realized Losses in the Certificate Account in respect of any such investments shall promptly be deposited by the Master Servicer in the Certificate Account and the amount of any Realized Losses in the Distribution Account in respect of any such investments shall promptly be deposited by the Trustee into the Distribution Account. All reinvestment income earned on amounts on deposit in the Distribution Account shall be for the benefit of the Trustee. The Trustee in its fiduciary capacity shall not be liable for the amount of any loss incurred in respect of any investment or lack of investment of funds held in the Certificate Account and made in accordance with this Section 3.5. (v) The Master Servicer shall give notice to the Trustee, the Seller, each Rating Agency and the Depositor of any proposed change of the location of the Certificate Account prior to any change thereof. The Trustee shall give notice to the Master Servicer, the Seller, each Rating Agency and the Depositor of any proposed change of the location of the Distribution Account prior to any change thereof.

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Principal Repayment Series 2016-C [Insert columns for other Series]

  • Allocations of Finance Charge Collections The Servicer shall allocate to the Series 1997-1 Certificateholders and retain in the Collection Account for application as provided herein an amount equal to the product of (A) the Floating Allocation Percentage and (B) the Series 1997-1 Allocation Percentage and (C) the aggregate amount of Collections of Finance Charge Receivables deposited in the Collection Account on such Deposit Date.

  • Reports to the Trustee; Collection Account Statements Not later than twenty days after each Distribution Date, the Servicer shall forward, upon request, to the Trustee and the Depositor the most current available bank statement for the Collection Account. Copies of such statement shall be provided by the Trustee to any Certificateholder and to any Person identified to the Trustee as a prospective transferee of a Certificate, upon request at the expense of the requesting party, provided such statement is delivered by the Servicer to the Trustee.

  • Cut-Off Date Aggregate Principal Balance The Cut-Off Date Aggregate Principal Balance is $ 350,274,594.21.

  • Certificate Account and Special Payments Account (a) The Trustee shall establish and maintain on behalf of the Certificateholders a Certificate Account as one or more non-interest-bearing accounts. The Trustee shall hold the Certificate Account in trust for the benefit of the Certificateholders, and shall make or permit withdrawals therefrom only as provided in this Agreement. On each day when a Scheduled Payment is made to the Trustee under the Intercreditor Agreement, the Trustee upon receipt thereof shall immediately deposit the aggregate amount of such Scheduled Payment in the Certificate Account. (b) The Trustee shall establish and maintain on behalf of the Certificateholders a Special Payments Account as one or more accounts, which shall be non-interest bearing except as provided in Section 4.

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