EXTRA PRINCIPAL definition

EXTRA PRINCIPAL. DISTRIBUTION For any Distribution Date, the lesser of (i) the AMOUNT: excess of (x) interest collected or advanced with respect to the Mortgage Loans with due dates in the related Due Period (less servicing and trustee fees and expenses), over (y) the sum of interest payable on the Certificates on such Distribution Date and (ii) the overcollateralization deficiency amount for such Distribution Date.
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Examples of EXTRA PRINCIPAL in a sentence

  • EXTRA PRINCIPAL DISTRIBUTION AMOUNT: The "Extra Principal Distribution Amount," with respect to each Payment Date, is the lesser of: (1) The excess, if any, of: (a) The Required Overcollateralization Amount for such Payment Date over (b) The Overcollateralization Amount (after giving effect to distributions of principal other than any Extra Principal Distribution Amount) for such Payment Date and (2) The Excess Cashflow for such Payment Date.

  • AGGREGATE EXTRA PRINCIPAL DISTRIBUTION AMOUNT ON CURRENT AND $ 5,000,000.00 PRIOR PAYMENTS DATES ------------------ [LETTERHEAD OF GREEN TREE APPEARS HERE] GREEN TREE FINANCIAL CORPORATION CERTIFICATES FOR HOME EQUITY LOANS GREEN TREE TRUST 1998 - A DISTRIBUTION DATE: 8/17/98 MONTHLY REPORT ----------------- JULY 1998 CUSIP# 393505 ZJA ZK1 PAGE 7 ----------------- ZL9 ZM7 ZN5 ZPO ----------------- ZQ8 ZR6 ZS4 ----------------- TRUST ACCOUNT: 3336335-0 ----------------- 51.

  • GROUP II EXTRA PRINCIPAL DISTRIBUTION AMOUNT: The "Group II Extra Principal Distribution Amount," with respect to each Payment Date, is the lesser of: (1) The excess, if any, of: a.

  • PLUS SUM OF EXTRA PRINCIPAL DISTRIBUTION AMOUNTS ON ALL PRIOR PAYMENT DATE (MUST EQUAL OR EXCEED 5.5%) 1.54% -------------- DISTRIBUTION DATE: 5/15/98 CUSIP# 393505 ZJA ZK1 ZL9 ZM7 ZN5 ZPO ZQ8 ZR6 ZS4 TRUST ACCOUNT: 3336335-0 CLASS HE: B CERTIFICATES ------------------------- 36.

  • EXTRA PRINCIPAL For any Distribution Date, the lesser of (i) the excess DISTRIBUTION AMOUNT: of (x) interest collected or advanced with respect to the Mortgage Loans with due dates in the related Due Period (less Servicing Fees and Trust Expense Fees) plus any amounts received in respect to Arrearages, over (y) the sum of interest payable on the Certificates on such Distribution Date, and (ii) the overcollateralization deficiency amount for such Distribution Date.

  • EXTRA PRINCIPAL The lesser of (x) Excess Interest for such DISTRIBUTION AMOUNT: Distribution Date and (y) the Overcollateralization Deficiency Amount for such Distribution Date.

  • EXTRA PRINCIPAL DISTRIBUTION AMOUNT With respect to any Distribution Date occurring (A) on or prior to the earlier of (1) the 20% Clean-Up Call Date, and (2) the Distribution Date in September 2013, the lesser of (x) the Net Monthly Excess Cashflow for such Distribution Date, and (y) the Overcollateralization Increase Amount for such Distribution Date; and (B) thereafter, the Net Monthly Excess Cashflow for such Distribution Date.

  • EXTRA PRINCIPAL For any Distribution Date, the lesser of (i) the excess DISTRIBUTION AMOUNT: of (x) interest collected or advanced on the Mortgage Loans during the related Due Period (less fees and reimbursements owed to the Servicer, the Trustee and FSA), over (y) the sum of interest distribution on the Certificates on such Distribution Date and (ii) the amount by which the overcollateralization is deficient for such Distribution Date.

  • EXTRA PRINCIPAL DISTRIBUTION AMOUNT: The "Extra Principal Distribution Amount," with respect to each Payment Date, is the lesser of: (1) The excess, if any, of: (a) The Required Overcollateralization Amount for such Payment Date over (b) The Overcollateralization Amount (after giving effect to distributions of principal other than any Extra Principal Distribution Amount) for such Payment Date and (2) The Excess Cashflow for such Payment Date available therefor in the priority set forth herein.

Related to EXTRA PRINCIPAL

  • The Principal means the Principal of the College, or the Principal’s authorised representative.

  • Recovery Principal With respect to any Payment Date, the sum of (a) the excess, if any, of the Credit Event Amount for such Payment Date, over the Tranche Write-down Amount for such Payment Date; and (b) the Tranche Write-up Amount for such Payment Date.

  • Periodic Principal means, with respect to any Payment Date, the excess, if any, of the Outstanding Amount of Securitization Bonds over the outstanding principal balance specified for such Payment Date on the Expected Amortization Schedule.

  • Monthly Principal is defined in Section 4.1(d).

  • Class B Monthly Principal means the monthly principal distributable in respect of the Class B Certificates as calculated in accordance with subsection 4.07(b).

  • Liquidation Principal The principal portion of Liquidation Proceeds received with respect to each Mortgage Loan which became a Liquidated Mortgage Loan (but not in excess of the principal balance thereof) during the Prior Period.

  • Note A-2 Principal Balance” set forth on the Mortgage Loan Schedule, less any payments of principal on Note A-2 received by the Note A-2 Holder or reductions in the principal balance thereof pursuant to Section 3 or 4, as applicable.

  • Class A Monthly Principal means the monthly principal distributable in respect of the Class A Certificates as calculated in accordance with subsection 4.07(a).

  • Extra Principal Distribution Amount As of any Distribution Date, the lesser of (x) the related Total Monthly Excess Spread for such Distribution Date and (y) the related Subordination Deficiency for such Distribution Date.

  • Class B-6 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-5 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Senior Optimal Principal Amount As to a Mortgage Pool and with respect to each Distribution Date, an amount equal to the sum of:

  • Subordinate Optimal Principal Amount For any Distribution Date and any Loan Group, the sum for each Mortgage Loan in such Loan Group of (i) the Subordinate Percentage of (a) the principal portion of each Scheduled Payment (without giving effect, prior to the Bankruptcy Coverage Termination Date, to any reductions thereof caused by any Debt Service Reductions or Deficient Valuations) due on each such Mortgage Loan on the related Due Date, (b) the principal portion of the Purchase Price of each such Mortgage Loan to the extent it was repurchased by the Transferor pursuant to this Agreement as of such Distribution Date, (c) the Substitution Adjustment Amount in connection with any Deleted Mortgage Loan related to such Loan Group received with respect to such Distribution Date, (d) any Liquidation Proceeds (including Insurance Proceeds) allocable to recoveries of principal of Mortgage Loans related to such Loan Group that are not yet Liquidated Loans, received during the calendar month preceding the month of such Distribution Date, (ii) with respect to each Mortgage Loan in such Loan Group that became a Liquidated Loan during the calendar month preceding the month of such Distribution Date, the portion of the amount of the Liquidation Proceeds allocable to principal received with respect to such Mortgage Loan that was not included in clause (ii) of the definition of "Senior Optimal Principal Amount" for such Distribution Date, (iii) the Subordinate Prepayment Percentage of the sum of (a) all Principal Prepayments in Full of Mortgage Loans in such Loan Group received during the related Prepayment Period and (b) all partial Principal Prepayments of Mortgage Loans in such Loan Group and applied during the related Prepayment Period and (iv) with respect to any Distribution Date prior to the Cross-Over Date only, the Subordinate Prepayment Percentage related to such Group of the Recoveries received during the related Prepayment Period; provided, however, that if a Bankruptcy Loss that is an Excess Loss is sustained with respect to a Mortgage Loan in such Loan Group that is not a Liquidated Loan, the Subordinate Optimal Principal Amount will be reduced on the related Distribution Date by the Subordinate Percentage of the principal portion of such Bankruptcy Loss.

  • Class B-4 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Certificate Principal means principal payable in respect of the Investor Certificates of any Series pursuant to Article IV of this Agreement.

  • Class B-3 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Initial Principal Amount means, with respect to any Series or Class (or Subclass) of Notes, the aggregate initial principal amount of such Series or Class (or Subclass) of Notes specified in the applicable Series Supplement.

  • Class A-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum as to each Outstanding Mortgage Loan, of the product of (x) the PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Class B-2 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Group I Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group I Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group I Allocation Percentage.

  • Class A Non-PO Optimal Principal Amount As to any Distribution Date, an amount equal to the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan, and (y) the sum of:

  • Class B-1 Optimal Principal Amount As to any Distribution Date, an amount equal to the sum of (I) the sum, as to each Outstanding Mortgage Loan, of the product of (x) the Non-PO Fraction with respect to such Mortgage Loan and (y) the sum of:

  • Required Principal As determined for any Distribution Date for a given Series (or Class within such Series), unless otherwise specified in the related Supplement, the amounts on deposit in the Certificate Account allocable to principal payments on the Underlying Securities (including from Credit Support, if any, and Advances, if any, but excluding amounts in respect of principal payments to the extent that Advances with respect thereto were distributed as Required Principal on a prior Distribution Date) and required to be distributed in respect of the Certificates of such Series (or Class) in accordance with the terms of such Certificates and such related Supplement.

  • Group II Basic Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the Group II Principal Remittance Amount for such Distribution Date over (ii)(a) the Overcollateralization Release Amount, if any, for such Distribution Date multiplied by (b) the Group II Allocation Percentage.

  • Original Principal Amount means $296,000,000 for the Class A-1 Notes, $330,000,000 for the Class A-2a Notes, $100,000,000 for the Class A-2b Notes, $428,000,000 for the Class A-3 Notes and $96,000,000 for the Class A-4 Notes.

  • First Allocation of Principal means, with respect to any Payment Date, an amount equal to the excess, if any, of (a) the Class A Note Balance as of such Payment Date (before giving effect to any principal payments made on the Class A Notes on such Payment Date) over (b) the Pool Balance as of the end of the related Collection Period; provided, however, that the First Allocation of Principal for any Payment Date on and after the Final Scheduled Payment Date for any Class of Class A Notes shall not be less than the amount that is necessary to reduce the Note Balance of that Class of Class A Notes to zero.