Net Draws definition

Net Draws on any day means the aggregate amount of advances of funds made by the Holder of the Class R-1 Certificates to purchase Additional Balances minus the aggregate amount of Principal Collections on the Mortgage Loans previously paid to the Class R-1 Certificates minus the fractional share of each liquidation loss amount equal to the amount of Net Draws at the time of the incurrence of the liquidation loss amount divided by the aggregate Asset Balance of the Mortgage Loans at the time of the incurrence of the liquidation loss amount.
Sample 1Sample 2Sample 3
Net Draws. Principal Payment" for a Payment Date is the amount of Principal Collections applied on the Payment Date to the payment of outstanding Net Draws to the holder of the Class R-[1] Certificates. o During the Managed Amortization Period, the Net Draws Principal Payment for a Payment Date will be the least of
Sample 1

Examples of Net Draws in a sentence

  • In connection with any transfer, the related Net Draws shall be reduced by the aggregate Asset Balances as of the Transfer Date of the Mortgage Loans transferred.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans in a Loan Group from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the Net Draws relating to that Loan Group.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the “Transfer Date”) in an amount not in excess of the Net Draws.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the Net Draws.

  • In connection with any transfer, the Net Draws shall be reduced by the aggregate Asset Balances as of the Transfer Date of the Mortgage Loans transferred, and the excess, if any, will be applied to reduce the applicable Allocated Transferor Interest (but not below the related Transferor Subordinated Amount).

  • In connection with any transfer, the related Net Draws shall be reduced by the aggregate Asset Balances as of the Transfer Date of the Mortgage Loans transferred, and the excess, if any, will be applied to reduce the related Allocated Transferor Interest (but not below the related Required Transferor Subordinated Amount).

  • Subject to the conditions below, the Transferor may require the transfer of Mortgage Loans in a Loan Group from the Trust to the Transferor as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of Net Draws at the time.

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans in a Loan Group from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the sum of the related outstanding Net Draws at the time and the excess of the related Allocated Transferor Interest over the related Required Transferor Subordinated Amount at the time .

  • Subject to the conditions below, the holder of the Class R-[1] Certificates may require the transfer of Mortgage Loans from the Trust to the holder of the Class R-[1] Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the sum of the outstanding Net Draws at the time and the excess of the Transferor Interest over the Overcollateralization Target Amount at the time .

  • Subject to the conditions below, the holder of the Class R-1 Certificates may require the transfer of Mortgage Loans in a Loan Group from the Trust to the holder of the Class R-1 Certificates as of the close of business on a Payment Date (the "Transfer Date") in an amount not in excess of the sum of the outstanding related Net Draws at the time and the excess of the related Allocated Transferor Interest over the related Required Transferor Subordinated Amount the time .

Related to Net Draws

  • First draw sample means a one−liter sample of tap water that has been standing in plumbing pipes at least 6 hours and is collected without flushing the tap.

  • Interest Drawing has the meaning assigned to such term in Section 3.6(a).

  • Non-Extension Drawing has the meaning specified in Section 3.5(d).

  • Maximum Drawing Amount means at the time in question the sum of the maximum amounts which LC Issuer might then or thereafter be called upon to advance under all Letters of Credit which are then outstanding.

  • Term Advance has the meaning specified in Section 2.01(a).

  • Downgrade Drawing has the meaning assigned to such term in Section 3.6(c).

  • Final Drawing has the meaning specified in Section 3.05(i).

  • Shop Drawing means any and all drawings, diagrams, layouts, explanations, illustrations, manufacturer's drawings or other written or graphic materials which illustrate any portion of the construction work.

  • Applied Non-Extension Advance has the meaning assigned to such term in Section 2.06(a).

  • Non-Extension Advance means an Advance made pursuant to Section 2.02(b).

  • Net advance amount means the gross advance amount less the aggregate amount of the actual and estimated transfer expenses required to be disclosed under section 3(e).

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Unapplied Non-Extension Advance means any Non-Extension Advance other than an Applied Non-Extension Advance.

  • As-built drawings, as used in this clause, means drawings submitted by the Contractor or subcontractor at any tier to show the construction of a particular structure or work as actually completed under the contract. “As-built drawings” shall be synonymous with “Record

  • Credit allowance date means with respect to any qualified equity investment:

  • Minimum Disbursement Amount means Twenty-Five Thousand and No/100 Dollars ($25,000).

  • Minimum Tranche Amount has the meaning specified in Section 2.15(b).

  • Quarterly Excess Available Funds Percentage means, with respect to the March 2008 Transfer Date and each Transfer Date thereafter, the percentage equivalent of a fraction the numerator of which is the sum of the Excess Available Funds Percentages with respect to the immediately preceding three Monthly Periods and the denominator of which is three.

  • Drawing means the drawing or drawings specified in or annexed to the Specifications;

  • Contract Drawings means only those drawings specifically entitled as such and listed in the Specifications or in any Addendum, or any drawings furnished by the Commissioner, pertaining or supplemental thereto.

  • Estimated Incremental Quarterly Tax Amount has the meaning assigned to such term in Section 6.9.

  • Construction Drawings means those drawings containing the technical details associated with the design, construction and installation of the Infrastructure;

  • Initial Extension of Credit means the earlier to occur of the initial Borrowing and the initial issuance of a Letter of Credit hereunder.

  • Class B-2 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Prepayment Percentage for such Distribution Date will be zero.

  • Term Loan Percentage means, with respect to any Term Loan Lender at any time, the percentage of the total outstanding principal balance of the Term Loans represented by the outstanding principal balance of such Term Loan Lender’s Term Loans.

  • Reserve Draw Amount shall have the meaning specified in subsection 4.12(c).