Final Maturity Reserve Funding Date definition

Final Maturity Reserve Funding Date. The earlier of (a) the Distribution Date in April 2037 and (b) the Distribution Date on which the amount on deposit in the Final Maturity Reserve Account (after giving effect to all distributions on such Distribution Date other than distributions from the Final Maturity Reserve Account) is equal to the Stated Principal Balance of the Mortgage Loans having 40-year original terms to maturity (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and, if such Distribution Date is on or after the Distribution Date in May 2027, less the Overcollateralized Amount with respect to such Distribution Date.
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Final Maturity Reserve Funding Date. The earlier of (i) the Distribution Date on which the amount on deposit in the related Final Maturity Reserve Fund is equal to the applicable Final Maturity Reserve Fund Cap and (ii) the Last Scheduled Distribution Date.
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Final Maturity Reserve Funding Date. The earlier of (a) the Distribution Date in January 2036 and (b) the Distribution Date on which the amount on deposit in the Final Maturity Reserve Account (after giving effect to all distributions on such Distribution Date other than distributions from the Final Maturity Reserve Account) is equal to the lesser of (i) the aggregate Certificate Principal Balance of the Class A Certificates and the Mezzanine Certificates (after giving effect to all distributions on such Distribution Date other than distributions from the Final Maturity Reserve Account) and (ii) the Stated Principal Balance of the Mortgage Loans having 40-year original terms to maturity (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period).
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Examples of Final Maturity Reserve Funding Date in a sentence

  • On each Distribution Date on or after the Final Maturity Reserve Funding Date, the Trustee will distribute from amounts on deposit in the Final Maturity Reserve Fund the Final Maturity Reserve Release Amount for such Distribution Date to the Class CE Certificates.


More Definitions of Final Maturity Reserve Funding Date

Final Maturity Reserve Funding Date. The earlier of (a) the Distribution Date in September 2035 and (b) the Distribution Date on which the amount on deposit in the Final Maturity Reserve Account (after giving effect to all distributions on such Distribution Date other than distributions from the Final Maturity Reserve Account) is equal to the lesser of (i) $145,071,278 and (ii) the Stated Principal Balance of the Mortgage Loans having 40-year original terms to maturity (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period).
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Related to Final Maturity Reserve Funding Date

  • Final Maturity Date means the date that (i) is one hundred eighty (180) days following the Scheduled Termination Date or (ii) such earlier date on which the Loans become due and payable pursuant to Section 9.01.

  • Final Maturity has the meaning specified in Section 308.

  • Reserve Account Funding Date means the Distribution Date which occurs not later than the earliest of (a) the Distribution Date with respect to the Monthly Period that commences not later than three months prior to the Distribution Date with respect to the first Monthly Period in the Controlled Accumulation Period, (b) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the May 2023 Monthly Period or any Monthly Period thereafter is less than 2%, the Distribution Date with respect to such Monthly Period, (c) in the event that the average Excess Spread Percentage for any three consecutive Monthly Periods ending in the November 2023 Monthly Period or any Monthly Period thereafter is less than 3%, the Distribution Date with respect to such Monthly Period and (d) such earlier Distribution Date as the Transferor may determine by written notice to the Trustee and the Servicer. For this purpose, the “Excess Spread Percentage” for any Monthly Period shall be equal to the Series Adjusted Portfolio Yield for such Monthly Period minus the Base Rate for such Monthly Period.

  • Class B Maturity Date means the January 2040 Distribution Date.

  • Assumed Final Maturity Date As to each Class of Certificates, the date set forth as such in the Preliminary Statement.

  • Original Maturity Date means the date on which the bond reaches the end of the term for which it was initially offered and, unless further extended, ceases to earn interest.

  • REMIC Certificate Maturity Date The "latest possible maturity date" of the Regular Certificates as that term is defined in Section 2.07.

  • Class A-1 Maturity Date means [ ] (or, if such day is not a Business Day, the next preceding Business Day).

  • Class A-2 Maturity Date means [ ] (or, if such day is not a Business Day, the next succeeding Business Day thereafter).

  • Term Loan B Maturity Date means the earliest of (a) May 24, 2014, or (b) such earlier date upon which the Outstanding Amounts under the Term Loan Facility, including all accrued and unpaid interest, are required to be paid in full in accordance with the terms hereof.

  • Term Facility Maturity Date means, as the context may require, (a) with respect to the Term B Facility in effect on the Closing Date, the Term B Facility Maturity Date and (b) with respect to any other Class of Term Loans, the maturity dates specified therefor in the applicable Incremental Assumption Agreement.

  • Class A-3 Maturity Date means [ ] (or, if such day is not a Business Day, the next succeeding Business Day thereafter).

  • Liquidity Reserve Account shall have the meaning set forth in Section 8.2(A)(iii).

  • Facility Maturity Date means the earliest of (a) the Business Day designated by the Borrower to the Lender pursuant to Section 2.16(b) to terminate this Agreement, (b) the Stated Maturity or (c) the date on which the Facility Maturity Date is declared (or is deemed to have occurred automatically) pursuant to Section 7.01.

  • Delayed Draw Funding Date means the date occurring on or after the Effective Date upon which all of the conditions to funding the Delayed Draw Term Loan set forth in Section 6.02 are satisfied and the Delayed Draw Term Loan is funded.

  • Legal Final Maturity Date means the first Settlement Date on or after the date that is two years after the Termination Date.

  • Class C Maturity Date is defined in the Indenture.

  • Tranche B Maturity Date means May 8, 2009, or, if such day is not a Business Day, the next preceding Business Day.

  • Loan Maturity Date means the date on which the entire unpaid balance of the Loan, including principal and interest, is due and payable.

  • Term Loan Maturity Date means the Initial Maturity Date, or, if such date has been extended pursuant to Section 2.15, such later date to which the Term Loan Maturity Date has been extended pursuant to Section 2.15.

  • Latest Possible Maturity Date The Distribution Date following the third anniversary of the scheduled maturity date of the Mortgage Loan having the latest scheduled maturity date as of the Cut-off Date.

  • Initial Maturity Date means the earlier of (i) February 1, 2020 (the "Scheduled Initial Maturity Date"), and (ii) the date on which the unpaid principal balance of this Note becomes due and payable by acceleration or otherwise pursuant to the Loan Documents or the exercise by Lender of any right or remedy thereunder.

  • Class A-4 Maturity Date means [ ] (or, if such day is not a Business Day, the next succeeding Business Day thereafter).

  • Accumulation Reserve Funding Period shall not apply if the Calculation Agent on behalf of the Issuer notifies the Indenture Trustee that it expects the Accumulation Period Length to be adjusted to one (1) month, and otherwise shall mean a period commencing on the first Distribution Date on which a condition in the right column of the following table was in effect on the immediately preceding Distribution Date, if the Distribution Date is a Distribution Date described in the corresponding left column of the following table, and ending on the Distribution Date immediately preceding the earlier to occur of:

  • Latest Term Loan Maturity Date means, at any date of determination, the latest maturity or expiration date applicable to any Term Loan hereunder at such time, including the latest maturity or expiration date of any New Term Loan or any Extended Term Loan, in each case as extended in accordance with this Agreement from time to time.

  • Funding Date is any date on which a Credit Extension is made to or for the account of Borrower which shall be a Business Day.