Available Redemption Receipts definition

Available Redemption Receipts means for any Interest Payment Date an amount equal to the aggregate of (without double counting):

Available Redemption Receipts means for any Interest Payment Date an amount equal to the aggregate of (without double counting): (a) all Redemption Receipts or, if in a Determination Period, any Calculated Redemption Receipts, in each case, excluding an amount equal to any Reconciliation Amounts to be applied as Available Revenue Receipts on that Interest Payment Date, (i) received by the Issuer during the immediately preceding Collection Period and (ii) if representing amounts received in respect of any repurchases of Loans and their Related Security that were repurchased by the Seller and/or the Originator pursuant to the Mortgage Sale Agreement, received by the Issuer from but excluding the Monthly Pool Date immediately preceding the immediately preceding Interest Payment Date (or, in the case of the first Interest Payment Date, from and including the Closing Date) to and including (A) the immediately preceding Monthly Pool Date or (B) in respect of a repurchase by the Seller or the Originator to effect a redemption in full of the Notes pursuant to Condition 8.3 (Optional Redemption of the Notes in Full), the immediately preceding Calculation Date; (b) on the first Interest Payment Date only, the amounts standing to the credit of the Prefunding Reserve Ledger to the extent such funds have not been or will not be utilised to acquire the Further Portfolio; (c) the amounts (if any) calculated on the Calculation Date preceding that Interest Payment Date pursuant to the Pre-Enforcement Revenue Priority of Payments, to be the amount by which the debit balance of each of the Class A Principal Deficiency Sub-Ledger and/or the Class B Principal Deficiency Sub-Ledger and/or the Class C Principal Deficiency Sub-Ledger and/or the Class D Principal Deficiency Sub- Ledger and/or the Class Z Principal Deficiency Sub-Ledger is to be reduced on that Interest Payment Date; (d) any amounts deemed to be Available Redemption Receipts in accordance with item (r) of the Pre-Enforcement Revenue Priority of Payments (the "Enhanced Amortisation Amounts"); (e) on the Final Redemption Date only, all amounts standing to the credit of the Rated Note Reserve Fund Ledger, after first having applied the Rated Note Reserve Fund Available Amount as Available Revenue Receipts pursuant to the Pre-Enforcement Revenue Priority of Payments and any Rated Note Reserve Fund Liquidity Release Amount to meet any Revenue Deficit on such Interest Payment Date and after amounts have been credited to the Rated Note Reserve Fund in...

Examples of Available Redemption Receipts in a sentence

• The priority of the Notes are further set out in "Cashflows Application of Available Revenue Receipts prior to the service of an Enforcement Notice on the Issuer", "Cashflows Application of Available Redemption Receipts prior to the service of an Enforcement Notice on the Issuer" and "Cashflows Distributions Following the Service of an Enforcement Notice on the Issuer".

• Available Redemption Receipts (if any) may only be redirected as Principal Addition Amounts in respect of a Senior Expenses Deficit.

• The Issuer will not be able to use Available Redemption Receipts to pay interest on any Class of Notes (other than (a) the Class A Notes as set out above or (b) unless such Class of Notes (other than the Class A Notes) is the Most Senior Class or (c) after the delivery of an Enforcement Notice in accordance with the Post- Enforcement Priority of Payments) under any circumstances.

• However, such risks are partially mitigated by (a) the Swap Transaction entered into pursuant to the Swap Agreement, (b) the General Reserve Fund, (c) the Liquidity Reserve Fund, (d) subordination of certain junior classes of Notes and (d) the application of Available Redemption Receipts as Principal Addition Amounts in relation to the Class A and Class B Notes only.

• The priority of the Notes and the Residual Certificates are further set out in "Cashflows and Cash Management – Application of Available Revenue Receipts prior to the service of an Enforcement Notice on the Issuer", "Cashflows and Cash Management – Application of Available Redemption Receipts prior to the service of an Enforcement Notice on the Issuer" and "Cashflows and Cash Management – Distributions following the service of an Enforcement Notice on the Issuer".

• Payments and prepayments of principal on the Loans and any proceeds of repurchased Loans will be applied as Available Redemption Receipts in accordance with the Pre-Enforcement Redemption Priority of Payments (see "Cashflows" below).

• You can reach Eliana at (609) 895-3344, or etbaer@foxrothschild.com.

• The priority of the Notes and the Residual Certificates are further set out in "Cashflows – Application of Available Revenue Receipts prior to the service of an Enforcement Notice on the Issuer", "Cashflows – Application of Available Redemption Receipts prior to the service of an Enforcement Notice on the Issuer" and "Cashflows – Distributions following the service of an Enforcement Notice on the Issuer".

• The priority of the Notes and the Residual Certificates are further set out in "Cashflows – Application of Available Revenue Receipts prior to the service of an Enforcement Notice on the Issuer", "Cashflows – Application of Available Redemption Receipts to cure a Senior Expenses Deficit" and "Cashflows – Distributions following the service of an Enforcement Notice on the Issuer".

• However, such risks are partially mitigated by (a) the Swap Transactions entered into pursuant to the Swap Agreements, (b) the General Reserve Fund, (c) subordination of certain junior classes of Notes and (d) the application of Available Redemption Receipts as Principal Addition Amounts in relation to the Class A and Class B Notes only.