Net Negative Amortization definition

Net Negative Amortization. For any Distribution Date and each Mortgage Pool, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans in such Mortgage Pool for the calendar month prior to that Distribution Date, over (ii) the aggregate amount of all scheduled monthly principal payments received with respect to all Mortgage Loans in such Mortgage Pool during the related Collection Period, prepayments in full and partial prepayments received with respect to all Mortgage Loans in such Mortgage Pool during the related Prepayment Period (including principal received in connection with the repurchase of a Mortgage Loan from the Trust Fund and all other principal received other than scheduled monthly payments) and recoveries in respect of the Mortgage Loans in such Mortgage Pool received during the related Prepayment Period.
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Net Negative Amortization. For any Distribution Date, the excess, if any, of (i) the Negative Amortization with respect to the Mortgage Loans for the related calendar month prior to that Distribution Date, over (ii) the aggregate amount of items (2), (3), (4) and (5) of the definition of Principal Funds collected during the related Prepayment Period.
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Net Negative Amortization. For any Distribution Date, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans for the calendar month prior to that Distribution Date, over (ii) the aggregate amount of all scheduled monthly principal payments received with respect to all Mortgage Loans during the related Collection Period, prepayments in full and partial prepayments received with respect to all Mortgage Loans during the related Prepayment Period (including principal received in connection with the repurchase of a Mortgage Loan from the Trust Fund and all other principal received other than scheduled monthly payments) and recoveries in respect of the Mortgage Loans received during the related Prepayment Period.
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Examples of Net Negative Amortization in a sentence

  • P0 = the aggregate principal balance of the Class II-LT1, II-LT2, II-LT3, II-LT4, II-LT6, II-LT7, II-LT8, II-LTY1 and II-LTY2 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • P1 = the aggregate principal balance of the Class II-LT1, II-LT2, II-LT3, II-LT4, II-LT6, II-LT7, II-LT8, II-LTY1 and II-LTY2 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • P1 = the aggregate principal balance of the Class II-LT1, II-LT2, II-LT3, II-LT4, II-LT6, II-LT7, II-LT8, II-LTY1and II-LTY2 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • For any Distribution Date and the Class 2A-L and Class 2A-1B-L Regular Interests, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

  • For any Distribution Date and the Class 2A-L Regular Interest, a fraction, expressed as a per annum rate, the numerator of which is equal to the product of (i) the amount of interest accrued on the Group 2 Loans at the Loan Group 2 Weighted Average Pass-Through Rate for that Distribution Date less the Net Negative Amortization Amount for Loan Group 2 and (ii) 12, and the denominator of which is equal to the Loan Group 2 Balance for such Distribution Date.

  • P0 = the aggregate principal balance of the Class LT1, LT2, LT3 and LT4 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts on the prior Distribution Date.

  • P1 = the aggregate Uncertificated Principal Balance of REMIC I Regular Interests LT1, LT2, LT3, LT4, LT6, LT7, LT8, LT10, LT11 and LT12 after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.

  • The amount of the reduction of Current Interest distributable to each class of Certificates attributable to Net Negative Amortization will be added to the Certificate Principal Balance of that class.

  • The documents/files covered by this procedure are the child/young person’s main file, files and records held by any residential unit/carer with whom a child/young person has been placed, all relevant day books/log books and incident records held by residential units, children’s centre records, any personal information held by the Senior Management Team, etc.

  • P1 = the aggregate principal balance of the Class LT1, LT2, LT3 and LT4 Regular Interests after distributions and the allocation of Realized Losses and Net Negative Amortization Amounts to be made on such Distribution Date.


More Definitions of Net Negative Amortization

Net Negative Amortization. For any Distribution Date and each Mortgage Pool, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans in such Mortgage Pool for the related calendar month prior to that Distribution Date, over (ii) the aggregate amount of prepayments in full and partial prepayments received with respect to all Mortgage Loans in such Mortgage Pool during the related Prepayment Period.
Sample 1Sample 2
Net Negative Amortization. Means for any Payment Date and any group of Mortgage Loans the excess, if any, of (a) the aggregate Negative Amortization with respect to such Loan Group during the related Due Period over (b) voluntary Principal Prepayments for the related Prepayment Period and Loan Group.
Sample 1Sample 2
Net Negative Amortization. For any Distribution Date, the excess, if any, of (i) the Negative Amortization with respect to all Mortgage Loans in Pools 1 and 2 (in the aggregate) or Pool 3, as applicable, for the calendar month prior to that Distribution Date, over (ii) the aggregate amount of all scheduled monthly principal payments received with respect to all Mortgage Loans in Pools 1 and 2 (in the aggregate) or Pool 3, as applicable, during the related Collection Period, prepayments in full and partial prepayments received with respect to all Mortgage Loans Pools 1 and 2 (in the aggregate) or Pool 3, as applicable, during the related Prepayment Period (including principal received in connection with the repurchase of a Mortgage Loan from the Trust Fund and all other principal received other than scheduled monthly payments) and recoveries in respect of the related Mortgage Loans received during the related Prepayment Period.
Sample 1
Net Negative Amortization. As to any Distribution Date and Loan Group 6, the excess, if any, of the aggregate Deferred Interest on the Group 6 Mortgage Loans with respect to the Due Date in the month of such Distribution Date over the aggregate amount of Principal Prepayments on the Group 6 Mortgage Loans received from mortgagors during the calendar month preceding the month of such Distribution Date.
Sample 1
Net Negative Amortization means, with respect to the Pool II Loans or the Pool III Loans and any Distribution Date, the amount, if any, by which the aggregate Principal Balance of such Mortgage Loans increases after the distributions to be made on such Distribution Date.
Sample 1

Related to Net Negative Amortization

  • Negative Amortization That portion of interest accrued at the Note Rate in any month which exceeds the Monthly Payment on the related Mortgage Loan for such month and which, pursuant to the terms of the Mortgage Note, is added to the principal balance of the Mortgage Loan.

  • Consolidated Amortization Expense means, for any period, the amortization expense of Borrower and its Subsidiaries for such period, determined on a consolidated basis in accordance with GAAP.

  • Rapid Amortization Period means the Amortization Period commencing on the Pay Out Commencement Date and ending on the earlier to occur of (a) the Series 2001-D Termination Date and (b) the termination of the Trust pursuant to Section 12.01 of the Agreement.

  • Rapid Amortization Event has the meaning given to it in Section 5.16.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Controlled Amortization Period means, with respect to any Series, the period, if any, specified as such in the related Supplement.

  • Remaining Amortization Period means, at any point in time, the number of consecutive calendar months equal to the number of months in the Amortization Period minus the number of scheduled monthly installments of principal and interest that have elapsed since the date of this Note.

  • Consolidated Depreciation and Amortization Expense means, with respect to any Person for any period, the total amount of depreciation and amortization expense, including the amortization of deferred financing fees or costs, capitalized expenditures, customer acquisition costs and incentive payments, conversion costs and contract acquisition costs, the amortization of original issue discount resulting from the issuance of Indebtedness at less than par and amortization of favorable or unfavorable lease assets or liabilities, of such Person and its Restricted Subsidiaries for such period on a consolidated basis and otherwise determined in accordance with GAAP.

  • Depreciation and Amortization means the depreciation and amortization accruing during any period of determination with respect to a Person, as determined in accordance with GAAP.

  • Early Amortization Period means the period commencing on the date on which a Trust Early Amortization Event or a Series 2023-A Early Amortization Event is deemed to occur and ending on the Series Termination Date.

  • Consolidated Depreciation and Amortization Charges means, for any period, the aggregate of all depreciation and amortization charges for fixed assets, leasehold improvements and general intangibles (specifically including goodwill) of Borrower for such period, as determined on a Consolidated basis and in accordance with GAAP.

  • Amortization rate means the amortization rate, as defined in Section 49-11-102, to be applied to the system that would have covered the retiree if the retiree's reemployed position were deemed to be an eligible, full-time position within that system.

  • Early Amortization Event means the occurrence of any of the following:

  • Managed Amortization Period means the period from the Closing Date to the Rapid Amortization Commencement Date.

  • Potential Amortization Event means any occurrence or event which, with the giving of notice, the passage of time or both, would constitute an Amortization Event.

  • REMIC 2 Overcollateralization Target Amount 1.00% of the Overcollateralization Target Amount.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Excess Cash Flow Payment Period means, with respect to the repayment required on each Excess Cash Flow Payment Date, the immediately preceding fiscal year of the Borrower.

  • Cumulative Compounded RFR Rate means, in relation to a Loan (or any part of it) accruing interest at the Compounded Reference Rate, the percentage rate per annum determined by the Facility Agent in accordance with the methodology set out in Schedule 15C (Cumulative Compounded RFR Rate) or in any relevant Compounding Methodology Supplement.

  • Seller Remittance Amount With respect to each Servicer, the meaning assigned to such term in the related Servicing Agreement.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Excess Cash Flow Payment Date means the date occurring 90 days after the last day of a fiscal year of the Parent (commencing with its fiscal year ending December 31, 2000).

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Cumulative Retained Excess Cash Flow Amount means, at any date, an amount, not less than zero in the aggregate, determined on a cumulative basis equal to the aggregate cumulative sum of the Retained Percentage of Excess Cash Flow for all Excess Cash Flow Periods ending after the Closing Date and prior to such date.

  • Interest Remittance Amount For any Distribution Date and Loan Group, an amount equal to the sum of (1) all interest collected (other than related Payaheads, if applicable) or advanced in respect of Scheduled Payments on the Mortgage Loans in such Loan Group during the related Collection Period, the interest portion of Payaheads previously received and intended for application in the related Collection Period and the interest portion of all Payoffs and Curtailments received on the Mortgage Loans in such Loan Group during the related Prepayment Period (other than interest on Principal Prepayments that occur during the portion of the Prepayment Period that is in the same calendar month as the related Distribution Date), less (x) the Servicing Fees (other than any Excess Servicing Fee) and any lender paid Primary Insurance Policy premiums with respect to such Mortgage Loans and (y) unreimbursed Advances and other amounts due to a Servicer, the Back-Up Servicer or the Trustee with respect to such Mortgage Loans, to the extent allocable to interest, (2) all Compensating Interest Payments paid by a Servicer with respect to the related Mortgage Loans with respect to such Distribution Date, (3) the portion of any Substitution Adjustment Amount and Repurchase Price paid with respect to such Mortgage Loans during the calendar month immediately preceding the Distribution Date, in each case allocable to interest and the proceeds of any purchase of the Mortgage Loans by the Terminating Entity pursuant to Section 9.01 in an amount not exceeding the interest portion of the Par Value, (4) all Net Liquidation Proceeds, and any Insurance Proceeds and other recoveries (net of unreimbursed Advances, Servicing Advances and expenses, to the extent allocable to interest, and unpaid Servicing Fees) collected with respect to such Mortgage Loans during the prior calendar month, to the extent allocable to interest, (5) any amounts withdrawn from the Capitalized Interest Amount to pay interest on the related Certificates with respect to such Distribution Date and (6) the aggregate Excess Servicing Fee to be distributed to the Class A-IO-S Certificates.

  • Group II Principal Remittance Amount With respect to any Distribution Date, the sum of the amounts described in clauses (i) through (iii) of the definition of Group II Principal Distribution Amount.