Mortgages Trustee Principal Priority of Payments definition

Mortgages Trustee Principal Priority of Payments means the order in which the Cash Manager will apply the Mortgages Trustee Principal Receipts on each Distribution Date, as set forth in Clause 11 (Distribution of Principal Receipts) of the Mortgages Trust Deed;
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Mortgages Trustee Principal Priority of Payments means the provisions pursuant to which the Trust Property Cash Manager will apply the Mortgages Trustee Available Principal Receipts on each Distribution Date, as set forth in clause 9.2 (Mortgages Trustee Principal Priority of Payments) of the Mortgages Trust Deed.
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Mortgages Trustee Principal Priority of Payments means the order in which the Cash Manager will apply the Mortgages Trustee Principal Receipts on each Distribution Date, as set forth in Clause 11 (DISTRIBUTION OF PRINCIPAL RECEIPTS) of the Mortgages Trust Deed;
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Examples of Mortgages Trustee Principal Priority of Payments in a sentence

  • On each Distribution Date, the Trust Property Cash Manager shall distribute Mortgages Trustee Available Principal Receipts in accordance with the Mortgages Trustee Principal Priority of Payments.

  • Mortgages Trustee Available Revenue Receipts and Mortgages Trustee Principal Receipts:The Trust Property Cash Manager will apply Mortgages Trustee Available Revenue Receipts and Mortgages Trustee Available Principal Receipts on each Distribution Date in accordance with the Mortgages Trustee Revenue Priority of Payments and the Mortgages Trustee Principal Priority of Payments, as set out below.

  • If such Seller Cash Contribution is not applied as consideration for the purchase of New Mortgage Loans and their Related Security prior to the Trust Calculation Date immediately following the date on which such Seller Cash Contribution occurred, such amounts will be applied as Mortgages Trustee Available Principal Receipts to be distributed in accordance with the Mortgages Trustee Principal Priority of Payments on the following Distribution Date.

  • Mortgages Trustee Available Principal Receipts and the amounts to be distributed pursuant to each item of the Mortgages Trustee Principal Priority of Payments (as defined below) will be calculated by the Trust Property Cash Manager on each Trust Calculation Date.

  • Mortgages Trustee Available Revenue Receipts and Mortgages Trustee Available Principal Receipts:The Trust Property Cash Manager will apply Mortgages Trustee Available Revenue Receipts and Mortgages Trustee Available Principal Receipts on each Distribution Date in accordance with the Mortgages Trustee Revenue Priority of Payments and the Mortgages Trustee Principal Priority of Payments, as set out below.

  • Financial institutions should assess the adequacy of their policies and procedures pertaining to identification records and ensure that all customer records conform to the requirements set out in these guidelines.

  • Such Mandatory Seller Cash Contribution Amount shall be set off against a portion of the amount due to be paid to the Seller on such Distribution Date pursuant to the Mortgages Trustee Principal Priority of Payments (which amount shall be retained by the Mortgages Trustee in the Mortgages Trustee Transaction Accounts and/or the VM Mortgages Trustee Account and credited to the Trust Replenishment Ledger) and no Seller Share Event shall occur as a result.

Related to Mortgages Trustee Principal Priority of Payments

  • Guarantee Priority of Payments means the priority of payments relating to moneys received by the Cash Manager for and on behalf of the Guarantor and moneys standing to the credit of the Guarantor Accounts, to be paid on each Guarantor Payment Date in accordance with the Guarantor Agreement.

  • Indenture Trustee Fee means a fee that is separately agreed to between the Master Servicer and the Indenture Trustee.

  • Priority of Payments The meaning specified in Section 11.1(a).

  • Indenture Collateral has the meaning set forth in the Granting Clause of the Indenture.

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Mortgage-backed security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • First Priority Principal Payment means, for a Payment Date, the greater of:

  • Second Priority Principal Payment means, for a Payment Date, the greater of:

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Bond Trustee Fee Agreement means the agreement entered into between the Issuer and the Bond Trustee relating among other things to the fees to be paid by the Issuer to the Bond Trustee for its obligations relating to the Bonds.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Basic Collateral Agency Agreement means the Amended and Restated Basic Collateral Agency Agreement, dated as of March 1, 2009, among Daimler Trust, the Administrative Agent, Daimler Title Co., as collateral agent, and MBFS USA, as lender and as servicer.

  • Mortgage Indenture means the Mortgage and Deed of Trust, dated as of April 1, 1932, between SIGECO and Bankers Trust Company (as supplemented from time to time before or after the date hereof by various supplemental indentures thereto).

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Owner Trustee Fee means an annual fee equal to $3,000, payable on the Payment Date occurring in June of each year, commencing in 2017.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Post-Enforcement Priority of Payments means the order of priority pursuant to which the Guarantor Available Funds shall be applied on each Guarantor Payment Date, following the delivery of a Guarantor Default Notice, in accordance with the Intercreditor Agreement.

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Equal Priority Intercreditor Agreement means the Equal Priority Intercreditor Agreement substantially in the form of Exhibit G-1 among (x) the Collateral Agent and (y) one or more representatives of the holders of one or more classes of Permitted Additional Debt and/or Permitted Equal Priority Refinancing Debt, with any immaterial changes and material changes thereto in light of the prevailing market conditions, which material changes shall be posted to the Lenders not less than five Business Days before execution thereof and, if the Required Lenders shall not have objected to such changes within five Business Days after posting, then the Required Lenders shall be deemed to have agreed that the Administrative Agent’s and/or Collateral Agent’s entry into such intercreditor agreement (with such changes) is reasonable and to have consented to such intercreditor agreement (with such changes) and to the Administrative Agent’s and/or Collateral Agent’s execution thereof.

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • Collateral Security Documents Any document or instrument given to secure or guaranty the Mortgage Loan, including without limitation, the Mortgage, each as amended, supplemented, assigned, extended or otherwise modified from time to time.