First Loss Balance definition

First Loss Balance means, in respect of any Class of Notes, the balance from time to time standing to the credit of the First Loss Ledger applicable to such Class of Notes (subject to a minimum of zero).
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First Loss Balance means the balance from time to time standing to the credit of the First Loss Ledger applicable to the Notes (subject to a minimum of zero).
Sample 1Sample 2
First Loss Balance means, as at any date, the balance standing to the credit of the First Loss Ledger (subject to a minimum of zero).
Sample 1

Examples of First Loss Balance in a sentence

  • The Performance Account Ledger Increase Amount shall be calculated by the Swap Counterparty in good faith and in a commercially reasonable manner taking into account such factors as it considers appropriate, including, without limitation, the related Subordination Reduction Amount relating to the relevant Class of Notes, the First Loss Balance (as reduced after taking into account the Subordination Reduction Amount) and the then current ratings applicable to such Class of Notes.

  • The Subordination Increase Amount shall be calculated by the Swap Counterparty in good faith and in a commercially reasonable manner taking into account such factors as it considers appropriate, including, without limitation, the related Performance Account Ledger Reduction Amount relating to the relevant Class of Notes, the First Loss Balance relating to the relevant Class of Notes (net of such Subordination Increase Amount) and the then current ratings applicable to such Class of Notes.

  • The Subordination Increase Amount shall be calculated by the Swap Counterparty in good faith and in a commercially reasonable manner taking into account such factors as it considers appropriate, including, without limitation, the related Performance Account Ledger Reduction Amount relating to the Notes, the First Loss Balance relating to the Notes (net of such Subordination Increase Amount) and the then current ratings applicable to the Notes.

  • With effect from the date on which a Morgan Stanley Exchange Option is settled (the "MS Exchange Date"), the terms and conditions of the Notes shall be deemed amended and adjusted as necessary without any further action required by any party to reflect and account for the reduction in the Notes the subject of the Morgan Stanley Exchange Option, including but not limited to a reduction in the First Loss Balance and the Performance Balance in respect of the Notes.

  • In addition, the Swap Counterparty may, upon the advice of the Portfolio Advisor, increase the First Loss Balance by making an adjustment to the Performance Balance, as more fully described below.

  • In addition, the Swap Counterparty may, upon the advice of the Portfolio Advisor, increase the First Loss Balance in respect of a Class of Notes by making an adjustment to the Performance Balance in respect of such Class of Notes, as more fully described below.

  • EUR 350,000,000First Loss Balance (such balance, as adjusted from time to time in accordance with the provisions hereof, the "First Loss Balance") and thereafter will never be less than zero.

  • The First Loss Ledger shall have an initial credit balance as at the Issue Date equal to the product of (x) the Reference Portfolio Notional Amount and (y) the Attachment Point, and thereafter the balance on the First Loss Ledger shall be adjusted in accordance with paragraph 6.2 (Debits to the First Loss Ledger) below (and, for the avoidance of doubt, will never be less than zero) (such balance, as adjusted from time to time in accordance with the provisions hereof, the "First Loss Balance").

Related to First Loss Balance

  • Monthly Loss Amount means the sum of all Foreclosure Losses, Restructuring Losses, Short Sale Losses, Portfolio Losses, Modification Default Losses and Deficient Losses realized by the Assuming Institution for any Shared Loss Month.

  • Net Loss Amount means the sum of Cumulative Loss Amounts under this Single Family Shared-Loss Agreement and Aggregate Net Charge-Offs under the Commercial Shared-Loss Agreement.

  • First Loss Tranche means the dollar amount of liability that the Assuming Bank will incur prior to the commencement of loss sharing, which is the sum of (i) the Assuming Bank’s asset premium (discount) bid, as reflected on the Assuming Bank’s bid form, plus (ii) the Assuming Bank’s Deposit premium bid, as reflected on the Assuming Bank’s bid form, plus (iii) the Equity Adjustment. The First Loss Tranche may be a positive or negative number.

  • Monthly Shared-Loss Amount means the change in the Cumulative Shared- Loss Amount from the beginning of each month to the end of each month.

  • Allocated Realized Loss Amount With respect to any Distribution Date and any Class of Mezzanine Certificates, the sum of (i) any Realized Losses allocated to such Class of Certificates on such Distribution Date and (ii) the amount of any Allocated Realized Loss Amount for such Class of Certificates remaining unpaid from the previous Distribution Date.

  • Shared-Loss Amount has the meaning provided in Section 2.1(b)(i) of this Commercial Shared-Loss Agreement.

  • Applied Loss Amount With respect to any Distribution Date, the amount, if any, by which (x) the aggregate Certificate Principal Amount of the Certificates after giving effect to all Realized Losses incurred with respect to the Mortgage Loans during the related Collection Period and distributions of principal on such Distribution Date, but before giving effect to any application of the Applied Loss Amount with respect to such date, exceeds (y) the Pool Balance for such Distribution Date.

  • Excess Loss Account has the meaning set forth in Reg. Section 1.1502-19.

  • Unpaid Realized Loss Amount With respect to any Class A Certificates and as to any Distribution Date, is the excess of Applied Realized Loss Amounts with respect to such Class over the sum of all distributions in reduction of the Applied Realized Loss Amounts on all previous Distribution Dates. Any amounts distributed to the Class A Certificates in respect of any Unpaid Realized Loss Amount shall not be applied to reduce the Certificate Principal Balance of such Class.

  • Class Balance With respect to any Class of Certificates, at any time, the aggregate of the Certificate Balances of all Outstanding Certificates of such Class.

  • Final Shared-Loss Recovery Month means the calendar month in which the tenth anniversary of the Commencement Date occurs.

  • Modification Loss Amount With respect to each Payment Date, the excess, if any, of the aggregate Modification Shortfall over the aggregate Modification Excess for such Payment Date.

  • PRE-2017 NET OPERATING LOSS CARRYFORWARD means any net operating loss incurred in a taxable year beginning before January 1, 2017, to the extent such loss was permitted, by a resolution or ordinance of the Municipality that was adopted by the Municipality before January 1, 2016, to be carried forward and utilized to offset income or net profit generated in such Municipality in future taxable years.(B) For the purpose of calculating municipal taxable income, any pre-2017 net operating loss carryforward may be carried forward to any taxable year, including taxable years beginning in 2017 or thereafter, for the number of taxable years provided in the resolution or ordinance or until fully utilized, whichever is earlier.

  • Excess Loss The amount of any (i) Fraud Loss realized after the Fraud Loss Coverage Termination Date, (ii) Special Hazard Loss realized after the Special Hazard Coverage Termination Date or (iii) Bankruptcy Loss realized after the Bankruptcy Coverage Termination Date.

  • Principal Loss Amount With respect to each Payment Date, the sum of: (a) the aggregate amount of Credit Event Net Losses for all Credit Event Reference Obligations for the related Reporting Period; (b) the aggregate amount of court-approved principal reductions (“cramdowns”) on the Reference Obligations in the related Reporting Period; (c) subsequent losses on any Reference Obligation that became a Credit Event Reference Obligation on a prior Payment Date; and (d) amounts included in the second, fourth, seventh, eighth and tenth priorities set forth in Section 3.03(f) hereof.

  • Liquidation Loss Amount With respect to any Payment Date and any Mortgage Loan that became a Liquidated Mortgage Loan during the related Collection Period, the unrecovered portion of the Principal Balance of such Mortgage Loan and any unpaid accrued interest thereon at the end of such Collection Period, after giving effect to the Net Liquidation Proceeds applied in reduction of such Principal Balance.

  • Specified Reserve Fund Balance means, on the Closing Date $3,846,153.85, and with respect to any Payment Date 0.25% of the initial aggregate principal balance of the Receivables as of the Cutoff Date.

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Shared-Loss Month means each calendar month between the Commencement Date and the last day of the month in which the tenth anniversary of the Commencement Date occurs, provided that, the first Shared-Loss Month shall begin on the Commencement Date and end on the last day of that month.

  • Cumulative Loss Amount means the sum of the Monthly Loss Amounts less the sum of all Recovery Amounts.

  • Monthly Certificate has the meaning provided in Section 2.1(b) of this Single Family Shared-Loss Agreement.