Partial Prepayment definition

Partial Prepayment. Any payment of principal on a Mortgage Loan, other than a Full Prepayment, which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment.

Partial Prepayment. With respect to a Distribution Date and to any Receivable, the portion of an Actual Payment in excess of the Scheduled Payment which equals one or more future Scheduled Payments but does not constitute a Full Prepayment and results in a Rebate in accordance with the Servicer’s customary procedures.

Partial Prepayment means, as to any Rule of 78's Contract, any partial prepayment received by the Master Servicer that (i) is not accompanied by an amount specified by the related Obligor to be interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of such prepayment and (ii) is required by the terms of such Contract to be applied to the payment of principal thereunder on or prior to the Due Date next succeeding the date of receipt.

Examples of Partial Prepayment in a sentence

• Not later than each Remittance Date, the Seller shall from its own funds deposit in the Custodial Account an amount equal to the aggregate Prepayment Interest Shortfall due to either Partial Prepayment or Full Prepayment, if any, existing in respect of the related Principal Prepayment Period.

• The Rebate related to such Partial Prepayment will reduce the final Scheduled Payment and will thereafter, to the extent the Rebate exceeds the final Scheduled Payment, reduce Scheduled Payments in reverse chronological order beginning with the penultimate Scheduled Payment.

• The Servicer shall provide the Obligors with appropriate invoices and such other notices as may be required to ensure that all Contract Payments, Prepayment Amounts and Partial Prepayment Amounts on or in respect of each Contract are remitted by the Obligors directly to a Lock-Box Account.

• Within thirty (30) days of receipt of such written notice, the Administrator shall determine the Partial Prepayment Amount of such Assessor's Parcel and shall notify such owner of such Partial Prepayment Amount.

• Not later than each Remittance Date, the Servicer shall from its own funds deposit in the Custodial Account an amount equal to the aggregate Prepayment Interest Shortfall due to either Partial Prepayment or Full Prepayment, if any, existing in respect of the related Principal Prepayment Period.

More Definitions of Partial Prepayment

Partial Prepayment. Any Principal Prepayment other than a Principal ------------------ Prepayment in Full.

Partial Prepayment. Any Principal Prepayment other than a Principal Prepayment in Full.

Partial Prepayment. Any Promisor payment or other recovery of principal of a Student Loan (other than a Full Prepayment) that is received in advance of its scheduled Due Date and that is not accompanied by an amount as to interest representing scheduled interest for any payment period subsequent to the period in which it was received.

Partial Prepayment means the partial fulfillment of a Parcel’s Special Tax obligation, as determined by following the procedures in Section 6.

Partial Prepayment means the premature repayment of a portion of the Loan by the Borrower on the terms and conditions prescribed in this Agreement and by the Non-Bank Financial Institution from time to time and in force from time-to-time.

Partial Prepayment. Any payment of principal on a Mortgage Loan, other than a Full Prepayment, which is received in advance of its scheduled Due Date and is not accompanied by an amount of interest representing scheduled interest due on any date or dates in any month or months subsequent to the month of prepayment. Pass-Through Rate: As to any Remittance Date, a rate equal to the weighted average, expressed as a percentage, of the Mortgage Loan Remittance Rates of all Mortgage Loans in the Mortgage Pool as of the close of business on the Due Date in the month preceding the month in which such Remittance Date occurs, weighted on the basis of the respective Principal Balances of such Mortgage Loans, which Principal Balances shall be the Principal Balances of such Mortgage Loans immediately prior to such Remittance Date.

Partial Prepayment means a prepayment of a portion of a Parcel’s Special Tax obligation, as set forth in Section 7.