Maximum Variable Funding Balance definition

Maximum Variable Funding Balance. The maximum Security Balance of the Variable Funding Notes, which shall be an amount equal to $27,982,718 or such greater amount as may be permitted pursuant to Section 9.01 of the Indenture.
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Maximum Variable Funding Balance means $65,000,000.
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Maximum Variable Funding Balance means, with respect to any date, an amount equal to 1.0% of the then current aggregate Principal Balance of the Mortgage Loans.
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Examples of Maximum Variable Funding Balance in a sentence

  • In addition, on any Payment Date on which the Additional Balance Differential for such Payment Date if added to the aggregate Security Balance of the Variable Funding Notes (after application of any principal payments to be made thereon on such Payment Date) would cause the aggregate Security Balance thereof to exceed the Maximum Variable Funding Balance, then the Security Balance of one or more Certificates shall be increased by the amount of such excess.

  • The Security Balance of the Variable Funding Notes in the aggregate may not exceed the Maximum Variable Funding Balance.

  • The Notes; Increase of Maximum Variable Funding Balance; Variable Funding Notes.

  • The aggregate Variable Funding Balance of the Variable Funding Notes, including the Capped Funding Balance of the Capped Funding Notes, shall not exceed the Maximum Variable Funding Balance, and may not increase by more than $100,000 in any month unless the Indenture Trustee receives an Opinion of Counsel to the effect that such increase will not have any material adverse tax consequences to the Trust.

  • The Variable Funding Balance of any Class of Variable Funding Notes in the aggregate may not exceed the Maximum Variable Funding Balance for such Class.

  • The aggregate Variable Funding Balance of each class of Variable Funding Notes in the aggregate, including the Capped Funding Balance of the Capped Funding Notes, shall not exceed the applicable Maximum Variable Funding Balance.

  • Notwithstanding the foregoing, (i) at any time the Variable Funding Balance may not exceed the Maximum Variable Funding Balance, and (ii) the Variable Funding Balance may not increase more than $[100,000] in any month unless the Indenture Trustee receives an Opinion of Counsel to the effect that such increase will not have any material adverse tax consequences to the Trust.

  • Buyer shall execute and deliver such other documents and shall take such other action at the Closing as may be necessary or appropriate to carry out its respective obligations under this Agreement, without further representations or warranties other than those contained herein.

  • Notwithstanding the foregoing, (i) at any time the Variable Funding Balance may not exceed the Maximum Variable Funding Balance, and (ii) the Variable Funding Balance may not increase more than $100,000 in any month unless the Indenture Trustee receives an Opinion of Counsel to the effect that such increase will not have any material adverse tax consequences to the Trust.

  • The Maximum Variable Funding Balance may be increased as provided in Section 9.01(a)(viii).


More Definitions of Maximum Variable Funding Balance

Maximum Variable Funding Balance. The maximum Principal Balance of -------------------------------- the Variable Funding Notes which is an of any day of determination $_______ reduced by the aggregate amount of principal previously paid on the Variable Funding Notes; provided that the Maximum Variable Funding Balance may be -------- increased pursuant to Section 4.01 of the Indenture.
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Maximum Variable Funding Balance means, with respect to Group I Variable Funding Notes, $5,000,000.
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Maximum Variable Funding Balance means, with respect to the Variable Funding Notes, $5,000,000.
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Maximum Variable Funding Balance means with respect to either the Group I Variable Funding Notes or the Group II Variable Funding Notes $5,000,000.
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Maximum Variable Funding Balance means $65,000,000. MERS: Mortgage Electronic Registration Systems, Inc., a corporation organized and existing under the laws of the State of Delaware, or any successor thereto.
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Related to Maximum Variable Funding Balance

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Yield Supplement Overcollateralization Amount means, with respect to any calendar month and the related Payment Date, or with respect to the Closing Date, the aggregate amount by which the Principal Balance as of the last day of the related Collection Period or the Cutoff Date, as applicable, of each of the related Receivables with an APR as stated in the related contract of less than the Required Rate, other than Defaulted Receivables, exceeds the present value, calculated by using a discount rate equal to the Required Rate, of each scheduled payment of each such Receivables assuming such scheduled payment is made on the last day of each month and each month has 30 days.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Class A Note Initial Principal Balance means $500,000,000.

  • Class B Note Initial Principal Balance means $30,822,000.

  • Cut-off Date Pool Principal Balance The aggregate Stated Principal Balances of all Mortgage Loans as of the Cut-off Date.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Note A-2-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Class A-3 Final Scheduled Payment Date means the Payment Date occurring in April 2028.

  • Cut-Off Date Aggregate Principal Balance The aggregate of the Cut-Off Date Principal Balances of the Mortgage Loans is as set forth in Section 11.03.

  • Note A-2-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.

  • Cut-off Date Principal Balance As to any Mortgage Loan, the Stated Principal Balance thereof as of the close of business on the Cut-off Date.

  • Class A-3 Interest Rate means 1.49% per annum (computed on the basis of a 360-day year of twelve 30-day months).

  • Class A-2 Principal Balance as of any date means the Class A-2 Initial Principal Balance less all amounts paid to the holders of Class A-2 Notes in respect of principal pursuant to Section 5.06 hereof.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Class A-2 Final Scheduled Payment Date means the Payment Date occurring in February 2027.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Class B Note Principal Balance means, on any date of determination, an amount equal to (a) the Class B Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class B Noteholders on or prior to such date.

  • Class C Note Initial Principal Balance means $18,948,000.

  • Note A-5 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-5 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-5 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A Note Principal Balance means, on any date of determination, an amount equal to (a) the Class A Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date.

  • Class A-1 Interest Rate means 0.75000% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Note A-1-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.