Liquidation Loss Distribution Amount definition

Liquidation Loss Distribution Amount. With respect to any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts on such Payment Date, plus (B) any such Liquidation Loss Amounts remaining undistributed from any preceding Payment Date, provided that any such Liquidation Loss Distribution Amount remaining undistributed from any preceding Payment Date shall not be distributed to the extent that it was paid by means of a draw on the Policy or was reflected in the reduction of the Overcollateralization Amount.

Liquidation Loss Distribution Amount. With respect to any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts (other than any Excess Loss Amounts) on the Home Loans on such Payment Date, plus (B) any such Liquidation Loss Amounts (other than any Excess Loss Amounts) remaining unpaid from any preceding Payment Date, to the extent not reflected on such preceding Payment Date by a reduction of the Outstanding Reserve Amount.

Liquidation Loss Distribution Amount. With respect to the Group I Loans and any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts (other than any Excess Loss Amounts) incurred with respect to the Group I Loans during the related Collection Period, plus (B) any such Liquidation Loss Amounts (other than any Excess Loss Amounts) remaining undistributed from any preceding Payment Date, provided that any Liquidation Loss Amount described in this clause (B) shall not be distributed to the extent that the Liquidation Loss Amount was paid on the Class I Notes by means of a draw on the Group I Policy, from collections on the Home Equity Loans in the other Loan Group, or was reflected in the reduction of the Group I Overcollateralization Amount. With respect to the Group II Loans and any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts (other than any Excess Loss Amounts) incurred with respect to the Group II Loans during the related Collection Period, plus (B) any such Liquidation Loss Amounts (other than any Excess Loss Amounts) remaining undistributed from any preceding Payment Date, provided that any Liquidation Loss Amount described in this clause (B) shall not be distributed to the extent that the Liquidation Loss Amount was paid on the Class II Notes by means of a draw on the Group II Policy, from collections on the Home Equity Loans in the other Loan Group, or was reflected in the reduction of the Group II Overcollateralization Amount.

Examples of Liquidation Loss Distribution Amount in a sentence

• For purposes of the foregoing, required payments of principal on the Notes on each Payment Date will include the portion allocable to the Notes of all Liquidation Loss Amounts for such Payment Date and for all previous Collection Periods until paid or covered in full, to the extent not otherwise covered by a Liquidation Loss Distribution Amount or a draw on the Policy (up to the outstanding Note Balance).

• For purposes of the foregoing, required payments of principal on the Notes on each Payment Date (up to the outstanding Note Balance) will include all Liquidation Loss Amounts for such Payment Date and for all previous Payment Dates until paid or covered in full, to the extent that such Liquidation Loss Amounts are not otherwise covered by a Liquidation Loss Distribution Amount, a draw on the Policy or a reduction in the Overcollateralization Amount.

• For purposes of the foregoing, the amount on deposit in the Note Payment Account and available to be distributed as interest on any Payment Date shall include all amounts on deposit in such account with respect to such Payment Date, other than the Principal Collection Distribution Amount and the Liquidation Loss Distribution Amount (if any) to be distributed on such Payment Date.

• The reduction of the Note Balance of any Class of Notes by application of Liquidation Loss Amounts as described above shall entitle such Class to reimbursement for such amount, with interest thereon, in accordance with Section 3.05(a) as a distribution of the Liquidation Loss Distribution Amount (but without double counting for any prior distribution of Liquidation Loss Distribution Amounts to such Class covering such loss amounts).

• On each Payment Date, the Overcollateralization Amount available to cover any Liquidation Loss Amounts on such Payment Date shall be deemed to be reduced by an amount equal to such Liquidation Loss Amounts (except to the extent that such Liquidation Loss Amounts were covered on such Payment Date by a Liquidation Loss Distribution Amount or a payment in respect of Liquidation Loss Amounts).

More Definitions of Liquidation Loss Distribution Amount

Liquidation Loss Distribution Amount means, with respect to any Payment Date, an amount equal to any Liquidation Loss Amounts incurred on the Mortgage Loans during the related Collection Period, plus any Liquidation Loss Amounts incurred on the Mortgage Loans remaining undistributed from any previous Payment Date. Any Liquidation Loss Amounts on the Mortgage Loans remaining undistributed from any previous Payment Date will not be required to be paid as a Liquidation Loss Distribution Amount to the extent that such Liquidation Loss Amounts (i) were paid from collections on the Mortgage Loans, (ii) were reflected in a reduction of the Overcollateralization Amount or (iii) in the case of the Senior Notes, were reflected in a reduction in the Note Balances of the Subordinate Notes.

Liquidation Loss Distribution Amount means, with respect to any Payment Date, an amount equal to any Liquidation Loss Amounts incurred on the Mortgage Loans during the related Collection Period, plus any Liquidation Loss Amounts incurred on the Mortgage Loans remaining undistributed from any previous Payment Date. Any Liquidation Loss Amounts on the Mortgage Loans remaining undistributed from any previous Payment Date will not be required to be paid as a Liquidation Loss Distribution Amount to the extent that such Liquidation Loss Amounts were paid by means of a payment from collections on the Mortgage Loans or were reflected in a reduction of the Overcollateralization Amount or a reduction in the Subordinate Notes.

Liquidation Loss Distribution Amount. With respect to any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts during the related Collection Period, plus (B) any such Liquidation Loss Amounts remaining undistributed from any preceding Payment Date, provided that any Liquidation Loss Amount shall not be distributed to the extent that the Liquidation Loss Amount was previously paid on the Class A Notes and the Variable Funding Notes by means of a draw on the Policy, from collections on the Home Equity Loans, or was reflected in the reduction of the Overcollateralization Amount; provided, that nothing in the foregoing proviso shall limit the Credit Enhancer's right to be reimbursed for any Liquidation Loss Amounts to the extent paid by a draw on the Policy.

Liquidation Loss Distribution Amount. With respect to any Payment Date, the Group I Liquidation Loss Distribution Amount or the Group II Liquidation Loss Distribution Amount, as applicable.

Liquidation Loss Distribution Amount means, with respect to either Note Group and any Payment Date, an amount equal to any Liquidation Loss Amounts incurred on the Mortgage Loans in the related Loan Group during the related Collection Period, plus any Liquidation Loss Amounts incurred on the Mortgage Loans in the related Loan Group remaining undistributed from any previous Payment Date. Any Liquidation Loss Amounts on the Mortgage Loans in either Loan Group remaining undistributed from any previous Payment Date will not be required to be paid to the related Note Group as a Liquidation Loss Distribution Amount to the extent that such Liquidation Loss Amounts were paid on that Note Group by means of a draw on the Policy for an Overcollateralization Deficit Amount in the case of the Group I Notes, a payment from collections on the Mortgage Loans in the related Loan Group, or were reflected in a reduction of the Overcollateralization Amount for that Loan Group or a reduction in the Note Balances Subordinate Group II Notes in the case of the Group II Notes.

Liquidation Loss Distribution Amount. With respect to the Group I Loans and any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts incurred with respect to the Group I Loans during the related Collection Period, plus (B) any such Liquidation Loss Amounts remaining undistributed from any preceding Payment Date, provided that any Liquidation Loss Amount described in this clause (B) shall not be distributed to the extent that the Liquidation Loss Amount was paid on the Class I Notes from collections on the Home Equity Loans in the other Loan Group, or was reflected in the reduction of the Group I Overcollateralization Amount. With respect to the Group II Loans and any Payment Date, the sum of the Group II-A Liquidation Loss Distribution Amount and the Group II-B Liquidation Loss Distribution Amount

Liquidation Loss Distribution Amount. With respect to any Payment Date, the Group I Liquidation Loss Distribution Amount or the Group II Liquidation Loss Distribution Amount, as applicable. Liquidation Proceeds: Proceeds if any received in connection with the liquidation of any Mortgage Loan or related REO Property, whether through trustee's sale, foreclosure sale or otherwise. LT1 Principal Distribution Amount: For any Payment Date, the excess, if any, of the REMIC II Principal Reduction Amount for REMIC II Regular Interest LT1 for such Payment Date over the principal Liquidation Loss Amounts allocated to REMIC II Regular Interest LT1 on such Payment Date.