Fair Market Value Excess definition

Fair Market Value Excess. With respect to each Mortgage Loan to be purchased pursuant to Section 10.01(a), the excess, if any, of the Fair Market Value Call Price for such Mortgage Loan, over the Par Call Price for such Mortgage Loan. Any Fair Market Value Excess will not become part of the related Group Available Funds, but shall instead be distributed directly to the Holders of the Class A-LR Certificates pursuant to Section 4.02(g).

Fair Market Value Excess. As defined in Section 11.01.

Fair Market Value Excess. An amount equal to the excess, if any, of the amount in clause (y) of the definition of “Termination Price”, over the amount in clause (x) of the definition of “Termination Price.”

Examples of Fair Market Value Excess in a sentence

• Any Fair Market Value Excess received in connection with the purchase of the Mortgage Loans and REO Properties will be distributed to the holders of the Class RC Certificates.

• Except to the extent provided above with regard to allocating any Fair Market Value Excess to the holders of the Class RC Certificates, the proceeds of such a purchase or sale will be treated as a prepayment of the Mortgage Loans for purposes of distributions to Certificateholders.

• The proceeds of the purchase or sale of such assets of the Trust on to the Optional Termination Date or pursuant to the Auction Call described in Section 11.01 above (other than, with respect to any Mortgage Loan and the related REO Property, an amount equal to the excess, if any, of the amount in Section 11.01(a)(ii) over the sum of the amount in Section 11.01(a)(i) (such excess, the "Fair Market Value Excess")) will be distributed to the holders of the Certificates in accordance with Section 4.01.

• The proceeds of the purchase or sale of such assets of the Trust pursuant to the Avelo Call or the Auction Call described in Section 11.01 above (other than, with respect to any mortgage loan and the related property, an amount equal to the excess, if any, of the amount in Section 11.01(a)(2) over the sum of the amount in Section 11.01(a)(1) (such excess, the "Fair Market Value Excess")) will be distributed to the holders of the Certificates in accordance with Section 4.01.

• Except to the extent provided above with regard to allocating any Fair Market Value Excess to the holders of the Class R-2 Certificates, the proceeds of such a purchase will be treated as a prepayment of the Mortgage Loans for purposes of distributions to Certificateholders.

More Definitions of Fair Market Value Excess

Fair Market Value Excess. With respect to each Mortgage Loan to be purchased pursuant to Section 10.01(a) hereof, the excess, if any, of the Fair Market Value Call Price for such Mortgage Loan, over the Par Call Price for such Mortgage Loan. Any Fair Market Value Excess will not become part of the related Group Available Funds, but shall instead be distributed directly to the Holders of the Class A-LR Certificates pursuant to Section 4.02(i) hereof. Xxxxxx Xxx: Xxxxxx Xxx, a federally chartered and privately owned corporation organized and existing under the Federal National Mortgage Association Charter Act, or any successor thereto.

Fair Market Value Excess. With respect to each Mortgage Loan to be purchased pursuant to Section 10.01(a) hereof, the excess, if any, of the Fair Market Value Call Price for such Mortgage Loan, over the Par Call Price for such Mortgage Loan. Any Fair Market Value Excess will not become part of the Group 1 Available Funds, Group 2 Available Funds, Group 3 Available Funds, Group 4 Available Funds or Group 5 Available Funds, but shall instead be distributed directly to the Holders of the Class A-LR Certificates pursuant to Section 4.02(h) hereof. Xxxxxx Xxx: Xxxxxx Xxx, a federally chartered and privately owned corporation organized and existing under the Federal National Mortgage Association Charter Act, or any successor thereto.

Fair Market Value Excess. With respect to each Group II Mortgage Loan to be purchased pursuant to Section 11.01(a) hereof, the excess, if any, of the Fair Market Value Call Price for such Group II Mortgage Loan, over the Par Call Price for such Group II Mortgage Loan. Any Fair Market Value Excess will not become part of the Group II Available Funds, but shall instead be distributed directly to the Holders of the Class II-A-LR Certificates pursuant to Section 5.02(g) hereof.

Fair Market Value Excess. With respect to any Mortgage Loans to be purchased pursuant to Section 11.01 of the Trust Agreement, the excess, if any, of the Fair Market Value Price for such Mortgage Loans over the Par Value for such Mortgage Loans.

Fair Market Value Excess. With respect to each Mortgage Loan to be purchased pursuant to Section 4.03 of the Trust Agreement and Section 10.02 hereof, the excess, if any, of the Fair Market Value Price for such Mortgage Loan, over the Par Price for such Mortgage Loan. Any Fair Market Value Excess shall be distributed (a) in the case of the Track 1 Loans, directly to the Holders of the Class RT1 Certificates and (b) in the case of the Track 2 Loans, directly to the Holders of the Class RT2 Certificates, in each case pursuant to Section 3.01(i) of the Trust Agreement.

Fair Market Value Excess. With respect to each Mortgage Loan to be purchased pursuant to Section 4.03 of the Trust Agreement and Section 10.02 hereof, the excess, if any, of the Fair Market Value Price for such Mortgage Loan, over the Par Price for such Mortgage Loan. Any Fair Market Value Excess shall be distributed directly to the Holders of the Class RC Certificates pursuant to Section 3.01(i) of the Trust Agreement.

Fair Market Value Excess. With respect to each Mortgage Loan to be purchased pursuant to Section 4.03 of the Trust Agreement and Section 10.02 hereof, the excess, if any, of the Fair Market Value Price for such Mortgage Loan, over the Par Price for such Mortgage Loan. Any Fair Market Value Excess shall be distributed directly to the Holders of the Class R2 Certificates pursuant to Section 3.01(i) of the Trust Agreement.