Interest Deposit Amount definition

Interest Deposit Amount. With respect to each Mortgage Loan that accrues interest on Actual/360 Basis, an amount equal to one day of interest on the Cut-off Date Balance of such Mortgage Loan at the related Net Mortgage Rate, which amount is required to be delivered by the related Mortgage Loan Seller to the Master Servicer on the Closing Date for deposit into the Collection Account pursuant to Section 1 of the related Loan Purchase Agreement.

Interest Deposit Amount. $[____________], with respect to one Mortgage Loan identified on the Mortgage Loan Schedule as Loan No. [____________], which amount represents the amount of interest that would have accrued at the related Mortgage Rate on the Stated Principal Balance as of [____________] of such Mortgage Loan had such Mortgage Loan been originated on [____________], for the period from and including [____________] to but excluding [____________].

Interest Deposit Amount. An amount equal to one day’s interest at the related Net Trust Note Rate on the outstanding principal balance of the Trust Loan as of the Cut-off Date, which equals $22,444.72.

Examples of Interest Deposit Amount in a sentence

• Finally, when a new case manager was hired in November of 1996, the individual followed the incorrect procedure for IIB defendants.

• For the avoidance of doubt, no Initial Interest Deposit Amount will be due and owing if (i) the initial Distribution Date does not occur in February or March, or (ii) if the initial Distribution Date occurs in February during a leap year.

• In addition, on the Closing Date, the Mortgage Loan Seller shall cause to be delivered to the Depositor, for deposit into the Interest Reserve Account with respect to each Actual/360 Loan, an Interest Deposit Amount equal to two (2) days of interest on the Cut-off Date Balance of such Mortgage Loan at the related Net Mortgage Rate.

• The purchase price for the Mortgage Loans shall be an amount agreed upon by the parties in a separate writing, which amount includes interest accrued on the Mortgage Loans after the Cut-off Date and takes into account credits, sales concessions, any related Interest Deposit Amount and such other adjustments as agreed to between the parties in a separate writing which amount shall be payable on or about October 12, 2006 in immediately available funds.

• In connection with such transfer and assignment, the Depositor shall make a cash deposit to the Collection Account in an amount equal to the Interest Deposit Amount.

More Definitions of Interest Deposit Amount

Interest Deposit Amount. An amount equal to two day’s interest at the related Net Mortgage Rate on the Trust Notes, which equals $22,054.64.

Interest Deposit Amount. The amount of interest that would have accrued at the related Mortgage Rate on the Stated Principal Balance of such Mortgage Loan as of March 1, 2007 had such Mortgage Loan been originated on February 1, 2007, for the period from and including February 1, 2007 to but excluding March 1, 2007. With respect to each applicable Mortgage Loan, the related Loan Number from the Mortgage Loan Schedule and the amount of the related interest deposit is as follows: o Loan Number 3404044, $50,437.72.

Interest Deposit Amount. With respect to each Mortgage Loan that accrues interest on the basis of a 360-day year and the actual number of days during each one month interest accrual period, an amount equal to two days of interest at the related Net Mortgage Loan Rate on the related Cut-Off Date Principal Balance of such Mortgage Loan (or the aggregate of such interest for all such Mortgage Loans, as the context may require), which in the aggregate for all such Mortgage Loans equals $293,838.10.

Interest Deposit Amount means an aggregate amount of

Interest Deposit Amount. With respect to the Mortgage Loan identified as Loan No. 33 on the Mortgage Loan Schedule, an amount equal to 31 days of interest at the related Mortgage Rate on the related Stated Principal Balance of such Mortgage Loan as of the Cut-off Date. Such amount shall, in the aggregate, be equal to $47,361.11.

Interest Deposit Amount. (a) $56,615.46, with respect to the Mortgage Loan identified on the Mortgage Loan Schedule as Loan Number 58868, which amount represents the amount of interest that would have accrued at the related Mortgage Rate on the Stated Principal Balance as of June 1, 2005 of such Mortgage Loan had such Mortgage Loan been originated on June 1, 2005, for the period from and including June 1, 2005 to but excluding the date of origination of such Mortgage Loan, June 9, 2005; and (b) $3,533.05, with respect to the Mortgage Loan identified on the Mortgage Loan Schedule as Loan Number 58914, which amount represents the amount of interest that would have accrued at the related Mortgage Rate on the Stated Principal Balance as of June 1, 2005 of such Mortgage Loan had such Mortgage Loan been originated on June 1, 2005, for the period from and including June 1, 2005 to but excluding the date of origination of such Mortgage Loan, June 6, 2005.

Interest Deposit Amount means an amount equal to $0.00.