Net Foreclosure Proceeds definition

Net Foreclosure Proceeds. With respect to any Foreclosed Property, the Foreclosure Proceeds with respect to such Foreclosed Property net of any insurance premiums, taxes, assessments, ground rents, leasehold rents and other costs permitted to be paid therefrom pursuant to Section 3.14.
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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.
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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.
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Examples of Net Foreclosure Proceeds in a sentence

  • The Net Foreclosure Proceeds of any sale of the Mortgaged Property or any portion thereof pursuant to this Subsection shall be applied to the Lessee Obligations (with an associated reduction in the Asset Termination Value) as of the date of the foreclosure sale.

  • 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 Net Foreclosure Proceeds, after payment of $80 million to MLI, shall be payable to, and for the account of, the Companies; provided, however, that the Xxxxxxx Xxxxx Parties shall retain that amount of Net Foreclosure Proceeds (if any) in excess of the amount of any federal, state or local income taxes of the Companies directly attributable to such foreclosure (or the grant of the underlying mortgage) reasonably determined by the Companies (the "Tax Remittance").

  • In the event of Foreclosure upon the Equipment Loan Collateral (other than the Casino Bank Accounts), the Net Foreclosure Proceeds realized therefrom shall not be applied toward the Hotel Loan Obligations or the Indemnity Obligations unless and until: (a) the Equipment Loan Obligations have been paid in full; and (b) the Bank, in its sole discretion which may be withheld for any reason or for no reason, agrees to such an application.

  • In the event of Foreclosure upon the Equipment Loans Collateral (other than the Casino Bank Accounts), the Net Foreclosure Proceeds realized therefrom shall not be applied toward the Hotel Loan Obligations or the Indemnity Obligations unless and until: (a) the Equipment Loans Obligations have been paid in full; and (b) the Bank, in its sole discretion, which may be withheld for any reason or for no reason, agrees to such an application.

  • 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.

  • The excess (if any) of such Net Foreclosure Proceeds after payment of such $80 million and the delivery of such Tax Remittance (subject to the proviso in the foregoing sentence) shall reduce the Reference Amount under the Unsecured Adjustment Agreement in accordance with the provisions of Section 3.3 of the Unsecured Adjustment Agreement.

  • The Trustee’s use of Net Foreclosure Proceeds pursuant to clause (c) is subject to the provisions of paragraph (4) below.

  • In the event of Foreclosure upon the Equipment Loan Collateral (other than the Casino Bank Accounts), the Net Foreclosure Proceeds realized therefrom shall not be applied toward the Hotel Loan Obligations or the Grand Obligations unless and until: (a) the Equipment Loan Obligations have been paid in full; (b) Acceleration by Hibernia of the Hotel Loan Obligations; and (c) Hibernia, in its sole discretion which may be withheld for any reason or for no reason, agrees to such an application.


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;
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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.
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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.
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Net Foreclosure Proceeds shall have the meaning set forth in the Mortgage.
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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.
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Related to Net Foreclosure Proceeds

  • Foreclosure Proceeds Proceeds, net of any related expenses of the Servicer, Special Servicer, the Certificate Administrator and/or the Trustee, received in respect of any Foreclosed Property (including, without limitation, proceeds from the operation or rental of such Foreclosed Property) prior to the final liquidation of the Foreclosed Property.

  • Net Foreclosure Profits As to any Distribution Date, the amount, if any, by which (i) Aggregate Foreclosure Profits with respect to such Distribution Date exceed (ii) Liquidated Loan Losses with respect to such Distribution Date.

  • Foreclosure Profits As to any Distribution Date or related Determination Date and any Mortgage Loan, the excess, if any, of Liquidation Proceeds, Insurance Proceeds and REO Proceeds (net of all amounts reimbursable therefrom pursuant to Section 3.10(a)(ii)) in respect of each Mortgage Loan or REO Property for which a Cash Liquidation or REO Disposition occurred in the related Prepayment Period over the sum of the unpaid principal balance of such Mortgage Loan or REO Property (determined, in the case of an REO Disposition, in accordance with Section 3.14) plus accrued and unpaid interest at the Mortgage Rate on such unpaid principal balance from the Due Date to which interest was last paid by the Mortgagor to the first day of the month following the month in which such Cash Liquidation or REO Disposition occurred.

  • Foreclosure Profit With respect to a Liquidated Mortgage Loan, the amount, if any, by which (i) the aggregate of its Net Liquidation Proceeds exceeds (ii) the related Principal Balance (plus accrued and unpaid interest thereon at the applicable Mortgage Rate from the date interest was last paid through the date of receipt of the final Liquidation Proceeds) of such Liquidated Mortgage Loan immediately prior to the final recovery of its Liquidation Proceeds.

  • Purchase Proceeds means any cash amounts received by the Master Servicer in connection with: (i) the repurchase of a Mortgage Loan or an REO Mortgage Loan by a Seller pursuant to Section 2.3 or (ii) the purchase of the Mortgage Loans and REO Properties by the Depositor, the Master Servicer, the Special Servicer or the holders of the Class R-I Certificates pursuant to Section 10.1(b).

  • REO Disposition Proceeds All amounts received with respect to an REO Disposition pursuant to Section 4.16.

  • Disposition Proceeds means, with respect to each Non-Program Vehicle, the net proceeds from the sale or disposition of such Non-Program Vehicle to any Person (other than any portion of such proceeds payable by the Lessee thereof pursuant to the Lease).

  • Foreclosure Property shall have the meaning assigned to such term in the Servicing Agreement or such other analogous term used in the Servicing Agreement.

  • REO Proceeds Proceeds received in respect of any REO Mortgage Loan (including, without limitation, proceeds from the rental of the related Mortgaged Property).

  • Sale Proceeds All proceeds (excluding accrued interest, if any) received with respect to Assets as a result of sales of such Assets in accordance with the restrictions described in Article XII less any reasonable expenses incurred by the Collateral Manager, the Collateral Administrator or the Trustee (other than amounts payable as Administrative Expenses) in connection with such sales. Sale Proceeds will include Principal Financed Accrued Interest received in respect of such sale.

  • Net REO Proceeds As to any REO Mortgage Loan, REO Proceeds net of any related expenses of the Servicer.

  • Repurchase Proceeds the Repurchase Price in connection with any repurchase of a Mortgage Loan by the Seller and any cash deposit in connection with the substitution of a Mortgage Loan.

  • Condemnation Proceeds All awards or settlements in respect of a Mortgaged Property, whether permanent or temporary, partial or entire, by exercise of the power of eminent domain or condemnation, to the extent not required to be released to a Mortgagor in accordance with the terms of the related Mortgage Loan Documents.

  • Equity Issuance Proceeds means, with respect to any Equity Issuance, all cash and cash equivalent investments received by any Restricted Entity from such Equity Issuance (other than from any other Credit Party) after payment of, or provision for, all underwriter fees and expenses, SEC and blue sky fees, printing costs, fees and expenses of accountants, lawyers and other professional advisors, brokerage commissions and other out-of-pocket fees and expenses actually incurred by any Restricted Entity in connection with such Equity Issuance.

  • Subject Proceeds has the meaning assigned to such term in Section 2.11(b)(ii).

  • Net Disposition Proceeds means, with respect to any sale, transfer or other disposition of any assets of the Borrower, any Parent Guarantor or any of their respective Subsidiaries (other than sales permitted pursuant to clause (a), (b) or (c) of Section 7.2.9), the excess of

  • Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower, any Parent Guarantor or any of their respective Subsidiaries in connection therewith, but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first-priority Lien permitted by Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Liquidation Proceeds Amounts, including Insurance Proceeds, received in connection with the partial or complete liquidation of defaulted Mortgage Loans, whether through trustee's sale, foreclosure sale or otherwise or amounts received in connection with any condemnation or partial release of a Mortgaged Property and any other proceeds received in connection with an REO Property, less the sum of related unreimbursed Servicing Fees and Advances.

  • Asset Sale Proceeds means, with respect to any Asset Sale,

  • Net Casualty Proceeds means, with respect to any Casualty Event, the amount of any insurance proceeds or condemnation awards received by the Borrower or any of its U.S. Subsidiaries in connection with such Casualty Event (net of all collection or similar expenses related thereto), but excluding any proceeds or awards required to be paid to a creditor (other than the Lenders) which holds a first priority Lien permitted by clause (d) of Section 7.2.3 on the property which is the subject of such Casualty Event.

  • Net Condemnation Proceeds The Condemnation Proceeds received with respect to any Mortgage Loan or Serviced Companion Loan (including an REO Mortgage Loan or REO Companion Loan) net of the amount of (i) costs and expenses incurred with respect thereto and (ii) amounts required to be applied to the restoration or repair of the related Mortgaged Property; provided that, in the case of an Outside Serviced Mortgage Loan, “Net Condemnation Proceeds” under this Agreement shall be limited to any related Condemnation Proceeds that are received by the Trust Fund in connection with such Outside Serviced Mortgage Loan, pursuant to the allocations set forth in the related Co-Lender Agreement.

  • Excess Liquidation Proceeds To the extent that such amount is not required by law to be paid to the related Mortgagor, the amount, if any, by which Liquidation Proceeds with respect to a Liquidated Mortgage Loan exceed the sum of (i) the Outstanding Principal Balance of such Mortgage Loan and accrued but unpaid interest at the related Mortgage Interest Rate through the last day of the month in which the related Liquidation Date occurs, plus (ii) related Liquidation Expenses.

  • Net Issuance Proceeds means, in respect of any issuance of equity or incurrence of Indebtedness, cash proceeds (including cash proceeds as and when received in respect of non-cash proceeds received or receivable in connection with such issuance), net of underwriting discounts and reasonable out-of-pocket costs and expenses paid or incurred in connection therewith in favor of any Person not an Affiliate of the Borrower.

  • Net Liquidation Proceeds With respect to any Liquidated Mortgage Loan or any other disposition of related Mortgaged Property (including REO Property) the related Liquidation Proceeds net of Advances, Servicing Advances, Servicing Fees and any other accrued and unpaid servicing fees received and retained in connection with the liquidation of such Mortgage Loan or Mortgaged Property.

  • Available Proceeds means, with respect to a Liquidation Event or Enforcement Event, as of a particular day:

  • Principal Proceeds means, with respect to any Collection Period or the related Determination Date, all amounts received by the Borrower during such Collection Period that do not constitute Interest Proceeds, including unapplied proceeds of the Advances and any amounts received by the Borrower as equity contributions (howsoever designated).