Closing Date Deposit. With respect to the Adjustable Rate Group, such amount shall be equal to the aggregate of the amounts of interest that would have accrued (at the related Mortgage Loan Rate net of the Servicing Fee Rate) on each Initial Mortgage Loan in the Adjustable Rate Group for each 30-day period from the Cut-off Date through the end of the last Collection Period preceding the Collection Period in which such Mortgage Loan has its first Monthly Payment due, minus reinvestment interest on such Closing Date Deposit related to such Mortgage Loans. With respect to the Fixed Rate Group, such amount shall be equal to the aggregate of the amounts of interest that would have accrued (at the related Mortgage Loan Rate net of the Servicing Fee Rate) on each Mortgage Loan in the Fixed Rate Group for each 30-day period from the Cut-off Date through the end of the last Collection Period preceding the Collection Period in which such Mortgage Loan has its first Monthly Payment due, minus reinvestment interest on such Closing Date Deposit related to such Mortgage Loans.
Closing Date Deposit. The aggregate amount deposited by the Seller in the Collection Account on or prior to the Closing Date pursuant to Section 2.01, which amount shall be the aggregate of the amounts of interest that would have accrued (at the related Mortgage Loan Rate net of the Servicing Fee Rate) on each Initial Mortgage Loan for each 30-day period from the Cut-off Date through the end of the last Collection Period preceding the Collection Period in which such Mortgage Loan has its first Monthly Payment Due. Code: The Internal Revenue Code of 1986, as amended.
Closing Date Deposit. $________.
Examples of Closing Date Deposit in a sentence
The Closing Date Deposit shall be delivered to the account specified by the Master Servicer by wire transfer of immediately available funds.
In addition, on or prior to the Closing Date the Seller shall (i) cause the PMI Policy to be delivered to the Depositor and (ii) deposit the Closing Date Deposit with the Depositor for deposit in the Collection Account.
The Depositor shall cause to be deposited into the Distribution Account on the Closing Date the Closing Date Deposit Amount.
In addition, on or prior to the Closing Date the Seller shall (i) cause the Certificate Insurance Policy and the PMI Policy to be delivered to the Trustee and (ii) deposit the Closing Date Deposit in the Collection Account.
In addition, on or prior to the Closing Date the Seller shall (i) cause the Financial Guaranty Insurance Policy to be delivered to the Trustee and (ii) deposit the Closing Date Deposit in the Collection Account.
More Definitions of Closing Date Deposit
Closing Date Deposit. With respect to each of MLMLI and PNC, a cash amount to be deposited by each such Mortgage Loan Seller, as applicable, pursuant to the related Mortgage Loan Purchase Agreement, in respect of each Trust Mortgage Loan (that is one of the Trust Mortgage Loans identified as loan numbers 5, 13, 38, 67 and 102 on the Mortgage Loan Schedule) sold by such Mortgage Loan Seller to the Depositor that does not have its first Scheduled Payment due until August 2005, which cash amount represents the aggregate amount of interest that would have accrued during the entire month of June 2005 at the related Net Mortgage Rate on the Cut-off Date Balance of that Trust Mortgage Loan. The Closing Date Deposit for each of the Trust Mortgage Loans identified in the preceding sentence is $353,112.24, $137,027.97, $52,120.88, $29,633.24 and $12,060.30, respectively. With respect to Countrywide, a cash amount to be deposited by such Mortgage Loan Seller pursuant to the related Mortgage Loan Purchase Agreement in respect of the Trust Mortgage Loan identified as loan number 29 (Tuscany at XxXxxxxxx Ranch) on the Mortgage Loan Schedule, which cash amount represents a portion of the aggregate amount of interest that would have accrued during the entire month of June 2005 at the related Mortgage Rate on the Cut-off Date Balance of such Trust Mortgage Loan, which Closing Date Deposit is in the amount of $8,444.76.
Closing Date Deposit. The aggregate amount deposited by the Seller in the Collection Account on or prior to the Closing Date pursuant to Section 2.01, which amount is equal to the sum of 30 days' interest on the principal balance of each Initial Mortgage Loan that does not have a Monthly Mortgage Payment due in the Collection Period relating to the April 1997 Distribution Date, at a per annum rate equal to the Mortgage Loan Rate for each such Mortgage Loan, net of the applicable Servicing Fee Rate.
Closing Date Deposit. The aggregate amount deposited by the Seller in the Collection Account on or prior to the Closing Date pursuant to Section 2.01, which amount is equal to the sum of (i) 30 days of interest on the principal balance of each Mortgage Loan in Group I that is included in the Trust as of the Cut-off Date and does not have a Monthly Mortgage Payment due in the Collection Period relating to the October 1996 Distribution Date, at a per annum rate equal to the Mortgage Loan Rate for each such Mortgage Loan, net of the applicable Servicing Fee Rate and (ii) 30 days of interest on the principal balance of each Mortgage Loan in Group II that is included in the Trust as of the Cut-off Date and does not have a Monthly Mortgage Payment due in the Collection Period relating to the October 1996 Distribution Date, at a per annum rate equal to the Mortgage Loan Rate for each such Mortgage Loan, net of the applicable Servicing Fee Rate.
Closing Date Deposit has the meaning set forth in Section 4.7(a).
Closing Date Deposit. The aggregate amount deposited by the Seller in the Collection Account on or prior to the Closing Date pursuant to Section 2.01, which amount is equal to [30] days of interest on the principal balance of each Mortgage Loan that is included in the Trust as of the Cut-off Date and does not have a Monthly Payment due in the Due Period relating to the __________ 199_ Distribution Date (except that, with respect to Mortgage Loans in Pool II or Pool IV, the Closing Date Deposit shall reflect __ days of interest on the principal balance of each such Mortgage Loan not having a Monthly Mortgage Payment due in the Due Period relating to the _______ 199_ Distribution Date), at a per annum rate equal to the Mortgage Loan Rate for each such Mortgage Loan, net of the applicable Servicing Fee Rate.
Closing Date Deposit. With respect to MLMLI, a cash amount in the sum of $40,572.92 to be deposited by MLMLI pursuant to the Xxxxxxx Mortgage Loan Purchase Agreement in respect of the Xxxxxxx Trust Mortgage Loans Holiday Inn-Owasso, Holiday Inn-Xxxxxxxxx and Best Western-Xxxxx identified as loan numbers 85, 86 and 87, respectively, on the Mortgage Loan Schedule and, with respect to KeyBank, a cash amount in the sum of $101,620 to be deposited by KeyBank pursuant to the KeyBank Mortgage Loan Purchase Agreement in respect of the KeyBank Trust Mortgage Loans Rivergate Business Center, Gateway Plaza and Carnegie Corporate Plaza identified as loan numbers 52, 105 and 140, respectively, on the Mortgage Loan Schedule. These two sums represent the aggregate amount of interest that would have accrued during the entire month of June 2006 at the related Net Mortgage Rates on the related Cut-off Date Balances of each of the related Xxxxxxx and KeyBank Trust Mortgage Loans.
Closing Date Deposit. The aggregate amount deposited by the Seller in the Collection Account on or prior to the Closing Date pursuant to Section 2.01, which amount is equal to the sum of 30 days of interest on the principal balance of each Mortgage Loan that is transferred to the Trust as of the Cut-off Date and does not have a Monthly Mortgage Payment due in the Collection Period relating to the July 1997 Distribution Date (or transferred to the Trust on the Closing Date that does not have a Monthly Mortgage Payment due in either of the Collection Periods relating to the July or August 1997 Distribution Dates) (or transferred to the Trust on the Closing Date that does not have a Monthly Mortgage Payment due in either of the Collection Periods relating to the July or August 1997 Distribution Dates), at a per annum rate equal to the Mortgage Loan Rate for each such Mortgage Loan, net of the applicable Servicing Fee Rate.