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. As to any Payment Date, an amount equal to the lesser of (i) 100% of the Liquidation Loss Amounts, other than any Excess Loss Amounts, incurred on the Home Loans during the related Collection Period and (ii) the Net Monthly Excess Cash Flow available for payment of the Liquidation Loss Distribution Amount for that Payment Date, as provided in clause (i) of Section 3.05(d) of the Indenture.

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, 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).

• For purposes of the foregoing, required payments of principal on the Notes on each Payment Date will include the pro rata 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, a reduction of the Outstanding Reserve Amount or a draw on the Credit Enhancement Instrument (up to the outstanding Security Balance thereof).

• For purposes of the foregoing, amounts in the Payment Account available for interest distributions on any Payment Date shall be deemed to include all amounts distributed on the Class A Ownership Interest for such Payment Date, other than the Principal Collection Distribution Amount and the Liquidation Loss Distribution Amount (if any) distributed thereon.

• For purposes of the foregoing, the amount on deposit in the Note Payment Account (after taking into account amounts withdrawn from the Capitalized Interest 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.

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. 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 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. With respect to the Group I Loans and any Payment Date, the aggregate of (A) 100% of the Liquidation Loss Amounts (other than 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 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 Loan Group I or Loan Group II, 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.