Mortgage Margin Reserve Fund definition

Mortgage Margin Reserve Fund means the amount standing to the credit of the Mortgage Margin Reserve Fund Ledger from time to time;
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Mortgage Margin Reserve Fund has the meaning given to it in the Administration Agreement.
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Examples of Mortgage Margin Reserve Fund in a sentence

  • If this is not achieved, the Administrator will transfer the required amount from the Mortgage Margin Reserve Fund Discretionary Fund to the Mortgage Margin Reserve Fund.

  • On each Interest Payment Date (up to but excluding the Step-Up Date), the Mortgage MRF Discretionary Fund may be funded from excess Revenue in accordance with the Revenue Priority of Payments to fund potential interest rate shortfalls in respect of mortgages purchased on the closing date that will be used to fund the Mortgage Margin Reserve Fund in the next quarterly period.

  • In respect of PM25, a Mortgage Margin Reserve Fund equal to £NIL on the Closing Date as the weighted average interest charging rate exceeded LIBOR plus 3%.

  • A scheduled release will be credited to the Revenue Ledger from the Mortgage Margin Reserve Fund on each Interest Payment Date.In respect of PM27, a Mortgage Margin Reserve Fund equal to £NIL on the Closing Date as the weighted average interest charging rate exceeded SONIA plus 3%.

  • A scheduled release will be credited to the Revenue Ledger from the Mortgage Margin Reserve Fund on each Interest Payment Date.In respect of PM26, a Mortgage Margin Reserve Fund equal to £NIL on the Closing Date as the weighted average interest charging rate exceeded SONIA plus 3%.

  • On each interest rate conversion date (the last working day of each month), a debit is made to the Conversion MRF Discretionary Fund Ledger, and is credited to the Conversion Mortgage Margin Reserve Fund Ledger to bring it to the required level to comply with the interest rate conversion criteria on the relevant interest rate conversion date.

  • On each mortgage sale date, a debit is made to the Mortgage MRF Discretionary Fund Ledger, which is then credited to the Mortgage Margin Reserve Fund to bring it to the required level to comply with the Substitution criteria on the relevant sale date.In respect of PM26, a Mortgage Margin Reserve Fund Discretionary Fund was equal to £300,000 on the Closing Date.

  • On each Principal Determination date, a debit is made to the Mortgage MRF Discretionary Fund Ledger, which is then credited to the Mortgage Margin Reserve Fund to bring it to the required level.In respect of PM28, a Mortgage Margin Reserve Fund Discretionary Fund was equal to £300,000 on the Closing Date.

  • On each Principal Determination date, a debit is made to the Mortgage MRF Discretionary Fund Ledger, which is then credited to the Mortgage Margin Reserve Fund to bring it to the required level.

  • In respect of PM25, a Mortgage Margin Reserve Fund Discretionary Fund was equal to £300,000 on the Closing Date.

Related to Mortgage Margin Reserve Fund

  • Interest Reserve Account The trust account or subaccount created and maintained by the Certificate Administrator pursuant to Section 3.23 of this Agreement, which (subject to any changes in the identities of the Trustee and/or the Certificate Administrator) shall be entitled “Citibank, N.A., as Certificate Administrator, on behalf of Wilmington Trust, National Association, as Trustee, for the benefit of the registered Holders of Benchmark 2019-B12 Mortgage Trust, Commercial Mortgage Pass-Through Certificates, Series 2019-B12, Interest Reserve Account” and which shall be an Eligible Account.

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

  • Reserve Fund means the account designated as such, and established and maintained pursuant to Section 4.01.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Cash Reserve Account means an Eligible Deposit Account established in the name of the Trust and designated as the Cash Reserve Account for the purposes hereof, the balance of which shall be subject to the control of the Trust for the benefit of the Trust and the Seller and applied in accordance with the terms hereof, which account shall bear interest and shall initially be account number [*], maintained at [*];

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.