Net Collections definition

Net Collections. With respect to any Corrected Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

Net Collections means, with respect to any Distribution Date and the related Collection Period, the sum of (i) all payments of Monthly P&I, all partial prepayments, all Full Prepayments, Net Liquidation Proceeds and Net Insurance Proceeds in each case, collected with respect to the Contracts during such Collection Period, less partial prepayments of Precomputed Contracts collected with respect to the Contracts during such Collection Period which are deposited in the Payahead Account pursuant to Section 4.02(a), (ii) amounts withdrawn from the Payahead Account pursuant to Section 4.01(b) and deposited in the Collection Account with respect to such Distribution Date, and (iii) the aggregate Purchase Amount for Purchased Contracts deposited in or credited to the Collection Account pursuant to Section 4.02(a) on the Business Day preceding the Servicer Report Date next preceding such Distribution Date.

Net Collections means, with respect to any Distribution Date and the related Due Period, the sum of (i) all amounts of principal and interest collected on or in respect of the Contracts during such Due Period (in the case of principal and interest that are part of any Liquidation Proceeds or Insurance Proceeds, only to the extent of the related Net Liquidation Proceeds or Net Insurance Proceeds), less (a) the Retained Yield, if any, (b) any late payments of interest retained by the Master Servicer as reimbursement for Advances pursuant to Section 5.04 and (c) any installments of Monthly P&I or Prepayments retained by the Master Servicer as reimbursement for Nonrecoverable Advances pursuant to Section 5.04; (ii) the Advance for such Due Period to the extent actually made; (iii) the investment earnings on funds in the Collection Account for such Distribution Date (which, except as otherwise provided in Section 5.01, shall be the RIC Reinvestment Earnings); (iv) amounts withdrawn from the Holding Account and deposited in the Collection Account in such Due Period pursuant to Section 5.02; and (v) the aggregate Repurchase Amount for Repurchased Contracts deposited in or credited to the Collection Account pursuant to Section 5.04(c) on the related Master Servicer Report Date.

Examples of Net Collections in a sentence

• On each Distribution Date, based solely on the Distribution Date Statement, the Indenture Trustee will apply the Net Collections available with respect to the related Collection Period, together with amounts, if any, withdrawn from the Spread Account, the Prefunding Account and the Capitalized Interest Account or representing payment of the Policy Claim Amount, to make the deposits to the Note Distribution Account required pursuant to Section 4.03(a) of the Sale and Servicing Agreement.

• On each Business Day during each Remittance Period on which there is an unreimbursed Supplemental Delinquency Advance, the Disbursing Agent shall, on a Trust Group-by-Trust Group basis, issue a Disbursement Notice to reimburse the Supplemental Servicer from Net Collections held in the Clearance Account for all outstanding Supplemental Delinquency Advances prior to payment of any amount from Net Collections to the Servicer (or a successor servicer) or to the Principal and Interest Account.

• For the avoidance of doubt, the reimbursement for Supplemental Delinquency Advances and Servicer Delinquency Advances made in respect of a particular Trust Group shall be from the Net Collections of such Trust Group and not on a loan-by-loan basis and no funds shall be remitted from the Principal and Interest Account to the Trustee for deposit into the Certificate Account to the extent that there are any Supplemental Delinquency Advances that have not been reimbursed.

• The second classification relates to limited empowerment to advocate for issues at higher levels.

• Furthermore, the Special Servicer shall be entitled to receive, as additional Servicing Compensation, a workout fee (the "Workout Fee") equal to the product of 1.0% and the amount of Net Collections received by the Master Servicer or the Special Servicer with respect to each Corrected Mortgage Loan.

More Definitions of Net Collections

Net Collections. With respect to any Liquidated Mortgage Loan, an amount equal to all payments on account of interest and principal on such Mortgage Loan.

Net Collections has the meaning specified in the Sale and Servicing Agreement.

Net Collections means Gross Collections minus the Funds Available for Servicing Payments.

Net Collections means all funds that are due to creditors from

Net Collections. For any Collection Period, all Collections received for such Collection Period, net of Lien Administration Expenses.

Net Collections means the gross collections from Portfolios held by the Group minus commission and fees to collection agencies.

Net Collections means, with respect to any Distribution Date and the related Collection Period, the sum of (i) all amounts collected on or in respect of the Contracts during such Collection Period, including, Monthly P&I, the Aggregate Repurchase Amount, if any, Liquidation Proceeds (only to the extent of the related Net Liquidation Proceeds), Insurance Proceeds (only to the extent of the related Net Insurance Proceeds), less the sum of (A) any late payments of interest retained by the Master Servicer as reimbursement for Advances pursuant to Section 5.04 and (B) any installments of Monthly P&I or Prepayments retained by the Master Servicer as reimbursement for Nonrecoverable Advances pursuant to Section 5.04; (ii) the Advance for such Collection Period to the extent actually made; (iii) the investment earnings on funds in the Collection Account for such Distribution Date (which, except as otherwise provided in Section 5.01, shall be the RIC Reinvestment Earnings); and (iv) the aggregate Repurchase Amount for Repurchased Contracts deposited in or credited to the Collection Account pursuant to Section 5.04(c) on the related Master Servicer Report Date.