Net REO Proceeds definition

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

Net REO Proceeds. With respect to each REO Property and any related REO Mortgage Loan or REO Companion Loan, REO Proceeds received by the Trust Fund with respect to such REO Property, REO Mortgage Loan or REO Companion Loan (other than the proceeds of a liquidation thereof), net of any insurance premiums, taxes, assessments, ground rents and other costs and expenses permitted to be paid therefrom pursuant to Section 3.16(b) of this Agreement; provided that, in the case of an REO Property that relates to an Outside Serviced Mortgage Loan, “Net REO Proceeds” under this Agreement shall be limited to any REO 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.

Net REO Proceeds. With respect to each REO Property and any related REO Mortgage Loan or REO Companion Loan, REO Proceeds with respect to such REO Property, REO Mortgage Loan or REO Companion Loan (other than the proceeds of a liquidation thereof) net of any insurance premiums, taxes, assessments, ground rents and other costs and expenses permitted to be paid therefrom pursuant to Section 3.16(b) of this Agreement.

Examples of Net REO Proceeds in a sentence

• If such Net REO Proceeds exceed the Monthly Payment then payable, the excess shall be treated as a Principal Prepayment received in respect of such Mortgage Loan.

• Thereafter, Net REO Proceeds received in any month shall be applied to the payment of installments of principal and accrued interest on such Mortgage Loan deemed to be due and payable in accordance with the terms of such Mortgage Note and such amortization schedule.

• If such Net REO Proceeds exceed the then Unpaid REO Amortization, the excess shall be treated as a Curtailment received in respect of such Mortgage Loan.

• The Special Servicer shall withdraw from each REO Account and remit to the Master Servicer for deposit into the Collection Account on a monthly basis prior to the related Master Servicer Remittance Date the Net REO Proceeds received or collected from each REO Property, except that in determining the amount of such Net REO Proceeds, the Special Servicer may retain in each REO Account reasonable reserves for repairs, replacements and necessary capital improvements and other related expenses.

• The Special Servicer shall withdraw from each REO Account and remit to the Servicer for deposit into the Collection Account on a monthly basis prior to or on the related Due Date the Net REO Proceeds received or collected from each REO Property, except that in determining the amount of such Net REO Proceeds, the Special Servicer may retain in each REO Account reasonable reserves for repairs, replacements and necessary capital improvements and other related expenses.

More Definitions of Net REO Proceeds

Net REO Proceeds. With respect to each REO Property, REO Proceeds with respect to such REO Property net of any insurance premiums, taxes, assessments and other costs and expenses permitted to be paid therefrom pursuant to Section 3.17(b).

Net REO Proceeds. As to any REO Disposition, REO Proceeds net of any related expenses of the Servicer.

Net REO Proceeds under this Agreement shall be limited to any REO 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.

Net REO Proceeds has the meaning given in Section 5.07(a).

Net REO Proceeds. With respect to a Mortgaged Property where it is held as REO Property, and any Due Date, any amount withdrawn from the REO Account and deposited into the Collection Account pursuant to Section 3.19(c) with respect to the related Distribution Date.

Net REO Proceeds. Subject to Section 1.2 (iii)(B) and 1.2(v), with respect to each REO Account Property and any Prepayment Period, any amount withdrawn from the REO Account and deposited into the Collection Account pursuant to Section 3.17(d) with respect to such REO Account Property and such Prepayment Period.

Net REO Proceeds means, as to any REO Mortgage Loan, proceeds received in respect thereof net of any related expenses of the Master Servicer.