for any Payment Date definition

for any Payment Date means any Mortgage Loan in respect of which the Master Servicer has determined, in accordance with the servicing procedures specified in this Agreement, as of the end of the related Collection Period, that all Liquidation Proceeds which it expects to recover with respect to the disposition of the Mortgage Loan or the related REO have been recovered.

for any Payment Date means the third Business Day before the Payment Date.

for any Payment Date means interest for the related Interest Period at the applicable Note Rate on the Note Principal Balance as of the first day of the Interest Period (after giving effect to the distributions made on the first day of the Interest Period).

Examples of for any Payment Date in a sentence

• If Ford Credit is the Servicer and for any Payment Date, the sum of (i) Collections for the Collection Period, plus (ii) Purchase Amounts for the Payment Date, exceeds the amounts deposited under Section 4.3(b) for the Collection Period, Ford Credit will deposit an amount equal to the excess into the Collection Account on the Business Day before the Payment Date or, with satisfaction of the Rating Agency Condition, on the Payment Date.

• If, for any Payment Date, the amounts deposited under Section 4.3(b) for the Collection Period exceed the sum of (i) Collections for the Collection Period, plus (ii) Purchase Amounts for the Payment Date, the Indenture Trustee will pay to Ford Credit an amount equal to the excess within two Business Days of Ford Credit’s direction, but no later than the Payment Date.

• If Cellco is the Servicer and for any Payment Date, the sum of (i) Collections for the Collection Period, plus (ii) Acquisition Amounts for the Payment Date, exceeds the amounts deposited under Section 4.3(b) for the Collection Period, Cellco will deposit an amount equal to the excess into the Collection Account on the second Business Day before the Payment Date.

• The Required Overcollateralization Level for any Payment Date shall be as set forth in Schedule B hereto.

• If the Reserve Fund Draw Amount for any Payment Date is greater than zero, the Indenture Trustee will withdraw, or cause to be withdrawn, from the Reserve Fund, an amount equal to the lesser of the amount on deposit in the Reserve Fund and the Reserve Fund Draw Amount, and transfer the amount withdrawn to the Collection Account on the Deposit Date.

More Definitions of for any Payment Date

for any Payment Date means the sum of all payments effected by the mortgagors and any other amounts constituting principal collected by the Master Servicer under the Mortgage Loans during the related Collection Period. These amounts include any net liquidation proceeds and net proceeds from any insurer pursuant to any insurance policy covering a Mortgage Loan allocable to principal of the applicable Mortgage Loan and Transfer Deposit Amounts (as defined in the Sale and Servicing Agreement), but exclude foreclosure profits. The terms of the related Credit Line Agreement shall determine the portion of each payment on a Mortgage Loan that constitutes principal or interest. Net liquidation proceeds are liquidation proceeds net of out-of-pocket expenses (exclusive of overhead) that are incurred by the Master Servicer in connection with the liquidation of any Mortgage Loan. Foreclosure profits on a liquidated Mortgage Loan are the excess of its net liquidation proceeds over the Asset Balance of the Mortgage Loan before the final recovery on it (plus accrued and unpaid interest thereon at the applicable Loan Rate from the date interest was last paid to the end of the Collection Period during which the Mortgage Loan became a liquidated Mortgage Loan).

for any Payment Date means the product of (i) the Interest Collections received during the related Collection Period and (ii) the Investor Floating Allocation Percentage for the Payment Date.

for any Payment Date means the product of (i) the Investor Floating Allocation Percentage for the Payment Date and (ii) the aggregate of the liquidation loss amounts on the Mortgage Loans for the Payment Date. Liquidation loss amounts for any Payment Date and any Mortgage Loan that becomes a liquidated Mortgage Loan during the related Collection Period are the unrecovered Asset Balance of the Mortgage Loan at the end of the Collection Period after reducing the Asset Balance for the net liquidation proceeds. Net liquidation proceeds are liquidation proceeds net of insurance policy recoveries and out-of-pocket expenses (exclusive of overhead) that are incurred by the Master Servicer in connection with the liquidation of any Mortgage Loan.

for any Payment Date means an amount equal to the sum of:

for any Payment Date means the sum of all payments effected by mortgagors of Mortgage Loans and any other amounts constituting interest collected by the Master Servicer under the Mortgage Loans during the related Collection Period plus any optional advance made by the Master Servicer pursuant to Section 4.03 of the Sale and Servicing Agreement for which the Master Servicer has not been reimbursed minus the Servicing Fee for the related Collection Period. These amounts include any net liquidation proceeds and net proceeds from any insurer pursuant to any insurance policy covering a Mortgage Loan allocable to interest on the applicable Mortgage Loan. These amounts exclude any fees (including annual fees) or late charges or similar administrative fees paid by the mortgagors. The related Credit Line Agreement shall determine the portion of each payment on the Mortgage Loan that constitutes principal or interest. Net liquidation proceeds are liquidation proceeds net of insurance policy recoveries and out-of-pocket expenses (exclusive of overhead) that are incurred by the Master Servicer in connection with the liquidation of any Mortgage Loan.

for any Payment Date means the aggregate undivided beneficial interest represented by the Transferor Certificate in the Trust (other than the right to distributions resulting from Section 8.03(a)(xiii)), calculated as the sum of the Allocated Transferor Interest for each Loan Group.

for any Payment Date means the sum of (i) the Guaranteed Principal Payment Amount plus (ii) the amount to be distributed to the Holders of the Notes pursuant to Section 8.03(a)(ii) for the Payment Date. "Guaranteed Principal Payment Amount" o for the Notes o on their Scheduled Maturity Date, o means the excess of the outstanding Note Principal Balance (after giving effect to Interest Collections allocable and distributable as principal on the Notes on the Payment Date) over the sum of the amounts on deposit in the Collection Account available to be distributed to the Holders pursuant to Section 8.03(b); o on any Payment Date on or before the Available Transferor Subordinated Amount first increases to zero, o means, if the Available Transferor Subordinated Amount for that Payment Date is less than the highest Available Transferor Subordinated Amount for any preceding Payment Date, is the amount of the excess of the highest Available Transferor Subordinated Amount for any preceding Payment Date over the Available Transferor Subordinated Amount for the current Payment Date; o on any Payment Date after the Available Transferor Subordinated Amount has first increased to zero, o means, if the Available Transferor Subordinated Amount has been reduced to zero or below, the excess of the Note Principal Balance (after giving effect to the distributions of Interest Collections and Principal Collections that are allocable to principal on the Notes on the Payment Date) over the Loan Balance (at the end of the related Collection Period); and o for the Notes on any other Payment Date means zero.