Net Foreclosure Proceeds. With respect to each related Foreclosed Property, the Foreclosure Proceeds with respect to such related Foreclosed Property net of any insurance premiums, taxes, assessments, ground rents and other costs permitted to be paid therefrom pursuant to Section 3.14.
Net Foreclosure Proceeds. With respect to any REO Property, the Foreclosure Proceeds with respect to such REO Property net of any insurance premiums, taxes, assessments, ground rents and other costs permitted to be paid therefrom pursuant to Section 3.14.
Net Foreclosure Proceeds means the amount by which (a) the gross proceeds obtained by a creditor in a Foreclosure exceeds (b) all expenses incurred by the creditor in connection with such Foreclosure, including without limitation, all attorneys fees.
Examples of Net Foreclosure Proceeds in a sentence
Net Foreclosure Proceeds means the aggregate amount of any foreclosure proceeds or amounts received under any guarantee or surety after deduction of costs, received in connection with a Defaulted Receivable which has been foreclosed and/or written-off.
The Trustee’s use of Net Foreclosure Proceeds pursuant to clause (c) is subject to the provisions of paragraph (4) below.
Each Seller, the Issuer and the Security Trustee will agree that in case of foreclosure the share (aandeel) in each jointly-held All Moneys Security Rights of the Issuer and/or the Security Trustee will be equal to the Outstanding Principal Amount of the Mortgage Receivable, increased with interest and costs, if any, and the share of the relevant Seller will be equal to the Net Foreclosure Proceeds less the Outstanding Principal Amount, increased with interest and costs, if any.
More Definitions of Net Foreclosure Proceeds
Net Foreclosure Proceeds means (i) the proceeds of a foreclosure on a Mortgage, (ii) the proceeds of foreclosure on any other collateral securing the relevant Mortgage Receivable, (iii) the proceeds, if any, of collection of any insurance policy in connection with the relevant Mortgage Receivable, including fire insurance policy and Insurance Policy, (iv) the proceeds of [the NHG Guarantee and] any [other] guarantees or sureties and (v) the proceeds of foreclosure on any other assets of the relevant Borrower, in each case after deduction of foreclosure costs in respect of such Mortgage Receivable;
Net Foreclosure Proceeds means the sum of (a) the proceeds of a foreclosure on the mortgage right, (b) the proceeds of foreclosure on any other collateral securing the NHG Mortgage Receivable, (c) the proceeds, if any, of collection of any insurance policies in connection with the NHG Mortgage Receivable, including but not limited to life insurance and fire insurance policies and any Insurance Policies, (d) the proceeds of the NHG Guarantees and any other guarantees or sureties, and (e) the proceeds of foreclosure on any other assets of the relevant debtor, after deduction of foreclosure costs.
Net Foreclosure Proceeds means (i) the proceeds of a foreclosure on a Mortgage,(ii) the proceeds of foreclosure on any other collateral securing the relevant Mortgage Receivable, (iii) the proceeds, if any, of collection of any insurance policy in connection with the relevant Mortgage Receivable, including fire insurance policy and Insurance Policy, (iv) the proceeds of the NHG Guarantee and any other guarantees or sureties, (v) the proceeds of foreclosure on any other assets of the relevant Borrower, in each case afterdeduction of foreclosure costs in respect of such Mortgage Receivable, and (vi) any cash amounts received by the Issuer as payment under the NHG Advance Right less (vii) any NHG Return Amount relating to a Mortgage (to the extent such amount relates to item (i) of the definition thereof). The term "foreclosure" shall include any lawful manner of generating proceeds from collateral, whether by public auction, by private sale or otherwise.
Net Foreclosure Proceeds shall have the meaning set forth in the Mortgage.
Net Foreclosure Proceeds shall consist of the gross proceeds in any such foreclosure less only the reasonable, outofpocket costs directly attributable to such foreclosure incurred and paid by or on behalf of the Xxxxxxx Xxxxx Parties, provided, that, in no event shall taxes or other nonforeclosure related expenses of the Xxxxxxx Xxxxx Parties be deducted in calculating such Net Foreclosure Proceeds. The Xxxxxxx Xxxxx Parties shall deliver to the Companies a schedule displaying the calculation of such Net Foreclosure Proceeds within fifteen (15) Business Days of such foreclosure.