Actual Principal Balance definition

Actual Principal Balance. As to each Mortgage Loan, (i) the principal balance of the Mortgage after application of payments of principal actually received at the related Cut-off Date, minus (ii) all amounts previously distributed to the Purchaser with respect to the related Mortgage Loan representing principal payments.
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Actual Principal Balance. With respect to any Mortgage Loan as of any date, its original principal balance, reduced by the principal portion of all payments that have been made on or before such date, and Realized Losses of principal on such Mortgage Loan realized prior to such date. The Actual Principal Balance of a liquidated Mortgage Loan will equal zero.
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Actual Principal Balance. With respect to any Mortgage Loan as of any date of determination, (i) the outstanding principal balance as of the Cut-off Date after application of principal payments due on or before such date whether or not received, minus (ii) the aggregate of all amounts previously distributed to the Holder with respect to the Mortgage Loan representing payments or recoveries of principal or Monthly Advances in lieu thereof.
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Examples of Actual Principal Balance in a sentence

  • The initial principal amount of the Mortgage Loans shall be the aggregate Actual Principal Balance of the Mortgage Loans, so computed as of the related Cut-off Date as set forth on the related Mortgage Loan Schedule.

  • The Seller, on each related Closing Date, agrees to sell, and the Purchaser agrees to purchase, Mortgage Loans having an aggregate principal balance on the related Cut-off Date in an amount as set forth in the related Purchase Price and Terms Agreement, or in such other amount as agreed by the Purchaser and the Seller as evidenced by the aggregate Actual Principal Balance of the Mortgage Loans accepted by the Purchaser on the related Closing Date.

  • The Purchase Price for each Mortgage Loan in a Mortgage Loan Package shall be the percentage of par as stated in the related Purchase Price and Terms Agreement (subject to adjustment as provided therein), multiplied by the aggregate Actual Principal Balance, as of the related Cut-off Date, of the Mortgage Loans listed on the related Closing Schedule, after application of payments actually received on or before the related Cut-off Date.

  • In addition to the Purchase Price as described above, the Initial Purchaser shall pay to the Company, on the Closing Date, accrued interest on the Actual Principal Balance of each Mortgage Loan as of the Cut-off Date at its Mortgage Interest Rate from the Cut-off Date to but not including the Closing Date.

  • The purpose of this organization shall be the completion and preservation of the Mid State Hiking Trail System.

  • The Actual Principal Balance of each Mortgage Loan as of the Cut-off Date is determined after application to the reduction of principal of payments of principal due on or before the Cut-off Date whether or not collected.

  • Each payment on a Receivable shall be applied in the manner described in Section 6.15 of the Servicing Agreement; provided, however, that the Servicer shall apply any Net Liquidation Proceeds on any Liquidated Receivable to pay Accrued Interest on such Receivable and then to reduce the Actual Principal Balance of such Receivable before applying any such amounts to any Excluded Forced-Placed Insurance Premiums or any other amounts outstanding with respect to such Receivable.

  • Unless otherwise agreed to in the Closing Date Side Letter, with respect to any Mortgage Loan, a price equal to (i) the Actual Principal Balance plus (ii) interest on such Actual Principal Balance at the related Mortgage Interest Rate from the date on which interest was last distributed to the Initial Owner (from payments from the related Mortgagor) through the day prior to the date of repurchase.

  • If the Company satisfies or releases a Mortgage without first having obtained payment in full of the indebtedness secured by the Mortgage (or without payment in full being escrowed in a manner customary for such purposes) the Company shall deposit into the Custodial Account the Actual Principal Balance, plus all accrued interest on such Mortgage Loan at the Mortgage Interest Rate, on the day preceding the Remittance Date in the month following the date of such release.

  • With respect to any Mortgage Loan that prepays in full at any time between the related Cut-off Date and the related Closing Date, the Company shall reimburse the Initial Owner, within five(5) days of the related Closing Date, the amount (if any) by which the portion of the purchase price paid by the Initial Owner to the Company for such Mortgage Loan exceeded 100% of the outstanding Actual Principal Balance of the Mortgage Loan as of the related Cut-off Date.


More Definitions of Actual Principal Balance

Actual Principal Balance. As to each Mortgage Loan as of any date of determination, the actual unpaid principal balance of such Mortgage Loan as of such date.
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Actual Principal Balance means, as of the close of business on the last day of a Collection Period, (a) with respect to a Precomputed Receivable, the sum of (i) the Principal Balance thereof as of such day and (ii) the portion of all Scheduled Payments on such Receivable due and unpaid on or prior to such day allocable to principal using the actuarial method and (b) with respect to a Simple Interest Receivable, the Principal Balance thereof as of such day.
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Actual Principal Balance of any Class means, at any time and from time to time, the Initial Principal Balance of such Class less any amounts paid to the Noteholders in redemption of that Class;
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Actual Principal Balance. As to each Mortgage Loan, (i) the principal balance of such Mortgage Loan at the related Cut-off Date after giving effect to payments of principal received on or before such date minus (ii) all amounts previously distributed to the Initial Owner since such Cut-off Date with respect to such Mortgage Loan representing payments or recoveries of principal or advances in lieu thereof, plus (iii) without duplication of amounts described in clause (i) above, the cumulative amount of any Negative Amortization.
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Actual Principal Balance. ("Current Balance");
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Related to Actual Principal Balance

  • Pool Principal Balance As to any Distribution Date, the aggregate of the Scheduled Principal Balances of the Mortgage Loans which were Outstanding Mortgage Loans on the Due Date in the month preceding the month of such Distribution Date.

  • Original Principal Balance Any of the Original Principal Balances of the Classes of Class A Certificates as set forth in Section 11.05; the Original Class B-1 Principal Balance, Original Class B-2 Principal Balance, Original Class B-3 Principal Balance, Original Class B-4 Principal Balance, Original Class B-5 Principal Balance or Original Class B-6 Principal Balance as set forth in Section 11.15.

  • Initial Principal Balance means, in respect of a Receivable, the amount advanced under the Receivable toward the purchase price of the Financed Vehicle and related costs, including accessories, service and warranty contracts, insurance premiums, other items customarily financed as part of retail motor vehicle loans and/or retail installment sales contracts and other fees charged by the Transferor or Dealer and included in the amount to be financed, the total of which is shown as the initial principal balance in the note and security agreement or retail installment sale contract evidencing and securing such Receivable.

  • Class Principal Balance With respect to any Class and as to any date of determination, the aggregate of the Certificate Balances of all Certificates of such Class as of such date.

  • Note B Principal Balance means, at any time of determination, the Initial Note B Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon or reductions in such amount pursuant to Sections 3, 4 or 5, as applicable.

  • Unpaid Principal Balance With respect to any Mortgage Loan, the outstanding principal balance payable by the Borrower under the terms of the Mortgage Note.

  • Note Principal Balance means, with respect to each Note, at any time of determination, the Principal Balance for such Note, as set forth on the Mortgage Loan Schedule, less any payments of principal thereon (or any New Notes issued in substitution thereof) received by the related Note Holder (or any holders of New Notes in substitution thereof) or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class B-4 Principal Balance As to the first Determination Date, the Original Class B-4 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-4 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-4 Certificates on prior Distribution Dates (A) pursuant to Paragraph sixteenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-4 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance and the Class B-3 Principal Balance as of such Determination Date.

  • Class A Principal Balance As of any date, an amount equal to the sum of the Principal Balances for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-PO Certificates and Class A-R Certificate.

  • Class B-6 Principal Balance As to the first Determination Date, the Original Class B-6 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-6 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-6 Certificates on prior Distribution Dates pursuant to Paragraph twenty-second of Section 4.01(a) and (b) the Realized Losses allocated through such Determination Date to the Class B-6 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance, the Class B-4 Principal Balance and the Class B-5 Principal Balance as of such Determination Date.

  • Class A-1 Principal Balance as of any date means the Class A‑1 Initial Principal Balance less all amounts paid to the holders of Class A‑1 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Maximum VFN Principal Balance For any VFN Class, the amount specified in the related Indenture Supplement.

  • Class B-5 Principal Balance As to the first Determination Date, the Original Class B-5 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-5 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-5 Certificates on prior Distribution Dates (A) pursuant to Paragraph nineteenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-5 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance, the Class B-1 Principal Balance, the Class B-2 Principal Balance, the Class B-3 Principal Balance and the Class B-4 Principal Balance as of such Determination Date.

  • Planned Principal Balance means for any Distribution Date, the balance shown for such Distribution Date on Schedule XVII.

  • Note A-8 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-8 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-8 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Component Principal Balance As of any date of determination, either the PO-1 Component Principal Balance on such date or the PO-2 Component Principal Balance on such date as applicable.

  • Class B-2 Principal Balance As to the first Determination Date, the Original Class B-2 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-2 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-2 Certificates on prior Distribution Dates (A) pursuant to Paragraph tenth of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-2 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the sum of the Class A Principal Balance and the Class B-1 Principal Balance as of such Determination Date.

  • Note A Principal Balance means, as of any date of determination, the aggregate Note Principal Balance of the A Notes.

  • Note A-1-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A-2 Principal Balance as of any date means the Class A-2 Initial Principal Balance less all amounts paid to the holders of Class A-2 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Initial Class Principal Balance As set forth in the Preliminary Statement.

  • Average Principal Balance means for any Monthly Period in which a Reset Date occurs, the sum of (i) the Aggregate Principal Receivables determined as of the close of business on the last day of the prior Monthly Period, multiplied by a fraction the numerator of which is the number of days from and including the first day of such Monthly Period, to but excluding the related Reset Date, and the denominator of which is the number of days in such Monthly Period, and (ii) for each such Reset Date, the product of the Aggregate Principal Receivables determined as of the close of business on such Reset Date, multiplied by a fraction, the numerator of which is the number of days from and including such Reset Date, to the earlier of the last day of such Monthly Period (in which case such period shall include such date) or the next succeeding Reset Date (in which case such period shall exclude such date), and the denominator of which is the number of days in such Monthly Period.

  • Note A-2-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class B-1 Principal Balance As to the first Determination Date, the Original Class B-1 Principal Balance. As of any subsequent Determination Date, the lesser of (i) the Original Class B-1 Principal Balance less the sum of (a) all amounts previously distributed in respect of the Class B-1 Certificates on prior Distribution Dates (A) pursuant to Paragraph seventh of Section 4.01(a) and (B) as a result of a Principal Adjustment and (b) the Realized Losses allocated through such Determination Date to the Class B-1 Certificates pursuant to Section 4.02(b) and (ii) the Adjusted Pool Amount as of the preceding Distribution Date less the Class A Principal Balance as of such Determination Date.

  • Note A-7 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-7 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.