Available Payment Amount. As to any Payment Date, the sum, without duplication, of all amounts described in clauses (i) through (iv), inclusive, of Section 3.02(b) received by the Master Servicer with respect to the related Collection Period and deposited in the Collection Account.
Available Payment Amount. With respect to any Payment Date, an amount equal to (1) the sum of (a) the aggregate of the amounts on deposit in the Collection Account and Payment Account as of the close of business on the related Determination Date, including any Subsequent Recoveries, (b) the aggregate of any amounts received in respect of an REO Property withdrawn from any REO Account and deposited in the Payment Account for such Payment Date pursuant to Section 3.23 of the Servicing Agreement, (c) the aggregate of any amounts deposited in the Payment Account by the Master Servicer in respect of Prepayment Interest Shortfalls for such Payment Date pursuant to Section 3.24 of the Servicing Agreement, (d) the aggregate of any P&I Advances made by the Master Servicer for such Payment Date pursuant to Section 4.01 of the Servicing Agreement, (e) the aggregate of any advances made by the Indenture Trustee as successor Master Servicer or any other successor Master Servicer for such Payment Date pursuant to Section 6.02 of the Servicing Agreement and (f) the amount of any Prepayment Charges collected by the Master Servicer in connection with the Principal Prepayment of any of the Mortgage Loans, reduced (to not less than zero), by (2) the portion of the amount described in clause (1)(a) above that represents (i) Monthly Payments on the Mortgage Loans received from a Mortgagor on or prior to the Determination Date but due during any Due Period subsequent to the related Due Period, (ii) Principal Prepayments on the Mortgage Loans received after the related Prepayment Period (together with any interest payments received with such Principal Prepayments to the extent they represent the payment of interest accrued on the Mortgage Loans during a period subsequent to the related Prepayment Period), (iii) Liquidation Proceeds and Insurance Proceeds received in respect of the Mortgage Loans after the related Prepayment Period, (iv) amounts reimbursable or payable to the Depositor, the Master Servicer, the Indenture Trustee, the Owner Trustee, the Seller or any Sub-Servicer pursuant to Section 3.11 or Section 3.12 of the Servicing Agreement, (v) the Indenture Trustee Fee, the Owner Trustee Fee (beginning on the 13th Payment Date) and other amounts payable from the Payment Account pursuant to Section 6.07 hereof and (vi) amounts deposited in the Collection Account or the Payment Account in error.
Available Payment Amount. With respect to any Payment Date, the Available Collection Amount deposited into the Note Payment Account, minus the amount of any Trust Fees and Expenses required to be paid from the Note Payment Account pursuant to Section 5.01(c)(i) hereof.
Examples of Available Payment Amount in a sentence
Such compensation shall not be considered an amount that is reimbursable or payable to the Indenture Trustee (i) as part of the Indenture Trustee Fee, (ii) pursuant to Sections 3.05(d), 3.05(h), 5.04(b), 6.07 or 8.02(c) hereunder or (iii) out of the Available Payment Amount.
For purposes of calculating the Available Payment Amount for such final Payment Date, amounts transferred to the Note Payment Account immediately preceding such final Payment Date shall in all cases be deemed to have been received during the related Due Period, and amounts so transferred shall be applied pursuant to Section 5.01(d) and (e) hereof.
In addition, if the Master Servicer deposits in the Collection Account any amount not required to be deposited therein or any amount in respect of payments by Obligors made by checks subsequently returned for insufficient funds or other reason for non-payment, it may at any time withdraw such amount from the Collection Account, any provision herein to the contrary notwithstanding, and any amount subject to such a withdrawal shall not be included in the Available Payment Amount.
For purposes of calculating the Available Payment Amount for such final Payment Date, amounts transferred to the Note Payment Account immediately preceding such final Payment Date shall in all cases be deemed to have been received during the related Due Period, and amounts so transferred shall be applied pursuant to SECTION 5.01(D) and (E) hereof.
The Master Servicer may withdraw amounts payable to itself and the Insurer pursuant to this Section 3.3 from the Collection Account at any time it is entitled thereto, irrespective of the sufficiency of Available Payment Amount therein for any Payment Date.
More Definitions of Available Payment Amount
Available Payment Amount. With respect to any Payment Date, the Available Collection Amount minus the amount required to be paid from the Note Payment Account pursuant to Section 5.01(c)(i), plus on the Payment Date relating to the Due Period in which the termination of the Pre-Funding Period shall have occurred, the amount on deposit in the Pre-Funding Account at such time net of any Pre-Funding Earnings.
Available Payment Amount. With respect to any Payment Date, the amount on deposit in the Payment Account as of 11:00 a.m., New York City time, on such Payment Date, exclusive of any portion thereof that may be withdrawn from the Payment Account pursuant to any of clauses (ii) and (iii) of Section 8.01(b) of the Indenture.
Available Payment Amount. With respect to a Payment Date, an amount equal to the sum of (a) the aggregate amount of Servicer Remittances deposited in the Collateral Proceeds Account during the related Collection Period, plus (b) net liquidation proceeds related to Defaulted Student Loans received by the Servicer during the related Collection Period, plus (c) the aggregate amount of reinvestment income thereon deposited in the Collateral Proceeds Account with respect to the related Collection Period, including late payment charges on the Student Loans, if any, plus (d) amounts on deposit in the Reserve Fund in excess of the Interest Reserve Amount, plus (e) the aggregate Interest Support Payments for such Payment Date, plus (f) funds released from the Interest Support Account pursuant to Section 3.10.
Available Payment Amount. With respect to any Distribution Date and each Mortgage Loan Group, an amount equal to (i) the sum of all amounts described in clauses (i) through (vii), inclusive, of Section 5.03(a) received by the Servicer or any Subservicer (including any amounts paid by the Servicer and the Representative and excluding any amounts not required to be deposited in the Principal and Interest Account pursuant to Section 5.03 and excluding any amounts withdrawn by the Servicer pursuant to Section 5.04(ii), (iii), (v), (vi), (vii) and (x) as of the related Determination Date) during the related Due Period with respect to the Mortgage Loans in such Mortgage Loan Group and on deposit in the Collection Account on such Distribution Date, plus (ii) the amount of any Advances remitted pursuant to Section 6.08 for such Distribution Date with respect to the Mortgage Loans in such Mortgage Loan Group and on deposit in the Collection Account on such Distribution Date, less (iii) the Excess Spread with respect to such Distribution Date and such Mortgage Loan Group. No amount included in the Available Payment Amount by virtue of being described by any component of the definition thereof shall be included more than once by virtue of also being described by any other component or otherwise.
Available Payment Amount. With respect to any Payment Date, the amount on deposit in the Bond Account as of _________, New York City time, on such Payment Date, exclusive of (i) any portion thereof that represents any Prepayment Premiums actually collected during the related Collection Period and (ii) any portion thereof that may be withdrawn from the Bond Account pursuant to any of clauses (ii) through (iv) of Section 13(c).]
Available Payment Amount has the meaning specified in Section 3.07(b).
Available Payment Amount. With respect to any Payment Date, the total amount of all cash received by the Trustee on the Mortgage Loans from each Servicer during the related Due Period, including (1) all scheduled installments of interest (net of the related Servicing Fees and other reimbursable expenses) and principal collected on the Mortgage Loans and due during the Due Period related to such Payment Date, together with any Advances in respect thereof, (2) all Insurance Proceeds, Liquidation Proceeds and the proceeds of any Additional Collateral, in each case for such Payment Date, (3) all partial or full Principal Prepayments, together with any accrued interest thereon, identified as having been received during the related Prepayment Period, (4) any amounts received from the Servicers in respect of Prepayment Interest Shortfalls, and (5) the aggregate Purchase Price of all Defective Mortgage Loans and Converted Mortgage Loans purchased from the Trust Estate during the related Prepayment Period, minus: