Clean Up Call Price. The price paid by the party exercising the Clean-up Call pursuant to Section 7.01(d) or (e) of this Agreement, which is equal to the sum of (i) 100% of the aggregate outstanding principal balance of the Mortgage Loans plus accrued interest thereon, to, but not including, the first day of the month in which the Clean-up Call Price is to be distributed and (ii) the fair market value of any REO Property; provided, however, that such purchase price may be increased as is necessary, as determined by the Depositor, to avoid disqualification of any REMIC created under this Agreement as a REMIC.
Clean Up Call Price. With respect to any Purchase Date pursuant to Section 7.01(c), an amount equal to the greater of (A) 100% of the aggregate outstanding Class Principal Amounts of the Certificates, together with accrued and unpaid interest on the Certificates through the related Accrual Period (as increased by any Interest Shortfalls but excluding the amount of any unpaid Net WAC Shortfalls), and including, the payment of all amounts (including, without limitation, all previously unreimbursed Advances and Servicer Advances and accrued and unpaid Servicing Fees) payable or reimbursable to the Trustee, the Securities Administrator, the Master Servicer and the Servicers pursuant to this Agreement and the Servicing Agreements, or to any Custodian under the related Custody Agreement (to the extent such amounts are not paid to such Custodian by the Seller), and (B) the sum of (x) the aggregate outstanding principal balance of the Mortgage Loans (other than those described in clause (y) below), including accrued interest thereon, as of such date and (y) in the case of any REO Property and with respect to any Mortgage Loans for which foreclosure proceedings have been initiated or with respect to any Mortgage Loans which are otherwise 120 days or more Delinquent as of such date, the fair market value of such REO Property and Mortgage Loans (disregarding accrued interest thereon).
Clean Up Call Price. An amount equal to the sum of (a) the aggregate Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan that is an REO Property), plus accrued interest thereon at the applicable Mortgage Rate through the Due Date preceding distribution of the proceeds, (b) the fair market value of any REO Property, plus accrued interest thereon, (c) any unreimbursed fees, out-of-pocket expenses owed to the Trustee or the Servicer (including the costs and expenses of conducting the auction described in Section 9.01(a)) and any unreimbursed Servicing Fees, Advances or Servicing Advances, (d) all interest accrued on, as well as amounts necessary to retire, the principal balance of the NIM Notes, (e) any costs and damages incurred by the Issuing Entity (or the Trustee on behalf of the Issuing Entity) in connection with any violation by the affected Mortgage Loan of any anti-predatory or anti-abusive lending laws and (f) any Swap Termination Payment, other than a Defaulted Swap Termination Payment, owed to the Swap Counterparty; such Swap Termination Payment shall include any payment resulting from the termination of the Swap Agreement after the Clean Up Call Date but prior to the final distribution to the Certificates. Closing Date: September 26, 2006.
Examples of Clean Up Call Price in a sentence
Any purchase shall be accomplished by deposit into the Certificate Account of the Auction Termination Amount paid by the winning bidder if an Auction Termination has occurred or the Clean Up Call Price in the event the Servicer exercises a Clean Up Call and only following the delivery of an Opinion of Counsel in form and substance acceptable to the Trustee that such termination is a "Qualified Liquidation" under Section 860F of the Code.
More Definitions of Clean Up Call Price
Clean Up Call Price. An amount equal to the sum of (a) the aggregate Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan that is an REO Property), plus accrued interest thereon at the applicable Mortgage Rate through the Due Date preceding distribution of the proceeds, the fair market value of any REO Property, plus accrued interest thereon, (b) any unreimbursed out-of-pocket expenses owed to the Trustee (including the costs and expenses of conducting the auction described in Section 9.01(a)) or the Servicer and any unreimbursed Servicing Fees, Advances or Servicing Advances, (c) all interest accrued on, as well as amounts necessary to retire the principal balance of the notes guaranteed by the NIM Insurer, (d) any amounts owed to the NIM Insurer at the time the Clean Up Call is exercised and (e) any costs and damages incurred by the Trust Fund (or the Trustee on behalf of the Trust Fund) in connection with any violation by the affected Mortgage Loan of any anti-predatory or anti-abusive lending laws.
Clean Up Call Price. An amount equal to the sum of (a) the aggregate Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan that is an REO Property), plus accrued interest thereon at the applicable Mortgage Rate through the Due Date preceding distribution of the proceeds, the fair market value of any REO Property, plus accrued interest thereon, (b) any unreimbursed out-of-pocket expenses owed to the Trustee or the Servicer (including the costs and expenses of conducting the auction described in Section 9.01(a)) and any unreimbursed Servicing Fees, Advances or Servicing Advances, (c) all interest accrued on, as well as amounts necessary to retire, the principal balance of the NIM Notes and (d) any costs and damages incurred by the Trust Fund (or the Trustee on behalf of the Trust Fund) in connection with any violation by the affected Mortgage Loan of any anti-predatory or anti-abusive lending laws.
Clean Up Call Price. With respect to any Purchase Date pursuant to Section 7.01(c), an amount equal to the greater of (A) 100% of the aggregate outstanding Class Principal Amounts of the Certificates, together with accrued and unpaid interest on the Certificates through the related Accrual Period (as increased by any Interest Shortfalls but excluding any Net WAC Shortfalls), and including, the payment of all amounts (including, without limitation, all previously unreimbursed Advances and Servicing Advances and accrued and unpaid Servicing Fees) payable or reimbursable to the Trustee, the Master Servicer and the Servicers pursuant to this Agreement and the Servicing Agreements, or to any Custodian under the related Custody Agreement (to the extent such amounts are not paid to such Custodian by the Seller), and (B) the sum of (x) the aggregate outstanding principal balance of the Mortgage Loans (other than those described in clause (y) below), including accrued interest thereon, as of such date and (y) in the case of any REO Property and with respect to any Mortgage Loans for which foreclosure proceedings have been initiated or with respect to any Mortgage Loans which are otherwise 120 days or more Delinquent as of such date, the fair market value of such REO Property and Mortgage Loans (disregarding accrued interest thereon).
Clean Up Call Price. An amount equal to the sum of (a) the aggregate Stated Principal Balance of each Mortgage Loan (other than any Mortgage Loan that is an REO Property), plus accrued interest thereon at the applicable Mortgage Rate through the Due Date preceding distribution of the proceeds, the fair market value of any REO Property, plus accrued interest thereon, (b) any unreimbursed out-of-pocket expenses owed to the Trustee or the Servicer (including the costs and expenses of conducting the auction described in Section 9.01(a)) and any unreimbursed Servicing Fees, Advances or Servicing Advances, and (c) any costs and damages incurred by the Trust Fund (or the Trustee on behalf of the Trust Fund) in connection with any violation by the affected Mortgage Loan of any anti-predatory or anti-abusive lending laws.
Clean Up Call Price. With respect to any Purchase Date pursuant to Section 7.01(c), an amount equal to the greater of (A) 100% of the aggregate outstanding Class Principal Amounts 127551 Sequoia 2004-12 Pooling and Servicing Agmt. of the Certificates (other than the Residual Certificates and the Group 3 Certificates), together with accrued and unpaid interest on such Certificates through the related Accrual Period (as increased by any Interest Shortfalls but excluding the amount of any unpaid Net WAC Shortfalls), and including, the payment of all amounts (including, without limitation, all previously unreimbursed Advances and Servicer Advances and accrued and unpaid Servicing Fees) payable or reimbursable to the Trustee, the Securities Administrator, the Master Servicer and the Servicers pursuant to this Agreement and the Servicing Agreements, or to any Custodian under the related Custody Agreement (to the extent such amounts are not paid to such Custodian by the Seller), and (B) the sum of (x) the aggregate outstanding principal balance of the Mortgage Loans (other than those described in clause (y) below), including accrued interest thereon, as of such date and (y) in the case of any REO Property and with respect to any Mortgage Loans for which foreclosure proceedings have been initiated or with respect to any Mortgage Loans which are otherwise 120 days or more Delinquent as of such date, the fair market value of such REO Property and Mortgage Loans (disregarding accrued interest thereon).
Clean Up Call Price. The price paid by the Master Servicer pursuant to Section 7.01(d) of this Agreement, which is equal to the sum of (i) 100% of the aggregate outstanding principal balance of the Mortgage Loans plus accrued interest thereon, to, but not including, the first day of the month in which the Clean-up Call Price is to be distributed and (ii) the fair market value of any REO Property; provided, however, that such purchase price may be increased as is necessary, as determined by the Depositor, to avoid disqualification of any REMIC created under this Agreement as a REMIC.
Clean Up Call Price. An amount equal to the sum of (a) the aggregate Outstanding Principal Balance of the Certificates, plus accrued interest thereon, (b) any unreimbursed out-of-pocket expenses owed to the Trustee, (c) all interest accrued on, as well as amounts necessary to retire the principal balance of, the notes guaranteed by the NIMs Insurer, (d) any amounts owed to the NIMs Insurer at the time the Clean Up Call is exercised and (e) any costs and damages incurred by the Trust Fund (or the Trustee on behalf of the Trust Fund) in connection with any violation by the affected Mortgage Loan of any anti-predatory or anti-abusive lending laws. Closing Date: September 25, 2003.