Mortgage Margin Reserve Fund Ledger definition

Mortgage Margin Reserve Fund Ledger means the ledger so referred to in Clause 6.1.1;
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Examples of Mortgage Margin Reserve Fund Ledger in a sentence

  • 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 theConversion 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.In respect of PM27, a Conversion Margin Reserve Fund Discretionary Fund was equal to £300,585 on the Closing Date.

  • 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 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.In respect of PM26, a Conversion Margin Reserve Fund Discretionary Fund was equal to £900,595 on the Closing Date.

  • 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.In respect of PM28, a Conversion Margin Reserve Fund Discretionary Fund was equal to £300,900 on the Closing Date.

Related to Mortgage Margin Reserve Fund Ledger

  • 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.

  • 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 Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.