Pool Proceeds definition

Pool Proceeds. As to any Pool, all payments and recoveries received by or on behalf of a Subservicer, a Special Servicer, the Primary Servicer, the Master Servicer or the Trustee with respect to any of the Mortgage Loans in such Pool, regardless of their source, including any scheduled payment received from or on behalf of the related Borrower or Key Principal, any Prepayment, any insurance proceeds, any contractual right to receive the purchase price of any Mortgage Loan or REO Property purchased out of the Pool, any Estimated Funding, Guaranty payment, amounts received under Collateral Agreements and financial contracts related to the Mortgage Loans and amounts received on any Defeasance Securities, in each case received after the Issue Date or, in the case of a substitute Mortgage Loan, the date of its substitution, excluding:
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Pool Proceeds. As to any Pool, all payments and recoveries received by or on behalf of a Subservicer, a Direct Servicer, the Master Servicer or the Trustee with respect to any of the Mortgage Loans in such Pool, regardless of their source, including any scheduled payment received from or on behalf of the related Borrower, any Prepayment, any insurance proceeds, any contractual right to receive the purchase price of any Mortgage Loan or REO Property purchased out of the Pool, any Estimated Funding and Guaranty payment, in each case received after the Issue Date, excluding:
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Pool Proceeds. As to any Pool, all payments and recoveries received by or on behalf of a Subservicer, a Direct Servicer, the Master Servicer or the Trustee with respect to any of the Mortgage Loans in such Pool, regardless of their source, including any scheduled payment received from or on behalf of the related Borrower, any Prepayment, any insurance proceeds, any contractual right to receive the purchase price of any Mortgage Loan or REO Property purchased out of the Pool, any Estimated Funding and Guaranty payment, in each case received after the Issue Date or, in the case of a substitute Mortgage Loan, the date of its substitution, excluding:
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Examples of Pool Proceeds in a sentence

  • By delivering at least one Certificate of a Trust in the manner described in Section 3.1, the Issuer unconditionally, absolutely and irrevocably sets aside, transfers, assigns, sets over and otherwise conveys to the Trustee, on behalf of related Holders, all of the Issuer’s right, title and interest in and to the Mortgage Loans in the related Pool, together with any Pool Proceeds.

  • Servicing Advances may not be recovered out of Pool Proceeds except from amounts received with respect to the Mortgage Loan as to which such Servicing Advances were made, or as otherwise permitted under the related Mortgage Documents or Servicing Contract.

  • The Trustee may commingle Pool Proceeds and interest earnings and other investment earnings with respect to two or more Trusts, and also may commingle Pool Proceeds and interest earnings and other investment earnings with respect to any Trust with other proceeds and earnings held by the Trustee in trust, including assets of Other Xxxxxx Xxx Trusts, provided that the Trustee maintains or causes to be maintained records by which the separate interests of each Trust can be ascertained.

  • If an insurer, guarantor or other third-party provider of Mortgage Insurance exercises an option under its Mortgage Insurance to purchase a Mortgage Loan or REO Property, the proceeds of the purchase, minus expenses, will be considered to be Pool Proceeds and will be distributed as provided in the related Trust Documents.

  • As to each Trust, the Master Servicer or, if required by the Servicing Contract, the Primary Servicer will keep the records necessary to account for activity on the related Pool, including records of the Pool Proceeds, distributions to Holders, assumptions or transfers, Prepayments (including purchases from a Trust) and substitutions of Mortgage Loans.

  • The Collateral Account shall be an interest bearing account and all interest earned on amounts on deposit therein shall constitute, and be treated as, Asset Pool Proceeds collected with respect to the Asset Pools.

  • As to each Trust, the Master Servicer or, if required by the Servicing Contract, the Direct Servicer will keep the records necessary to account for activity on the related Pool, including records of the Pool Proceeds, distributions to Holders, assumptions or transfers and Prepayments (including purchases from a Trust).

  • In no event shall any Asset Pool Proceeds be withdrawn from the Collateral Account without the prior written consent of the Lender as to each such withdrawal or transfer.

  • As to each Trust, the Master Servicer or, if required by the Servicing Contract, the Direct Servicer will keep the records necessary to account for activity on the related Pool, including records of the Pool Proceeds, distributions to Holders, assumptions or transfers, Prepayments (including purchases from a Trust) and substitutions of Mortgage Loans.

  • The Master Servicer may provide in the Servicing Contract for reimbursement of Servicing Advances to the Direct Servicer other than out of Pool Proceeds.

Related to Pool Proceeds

  • Collateral Proceeds means the Liquidation Proceeds of the Relevant Collateral or any Undeliverable Assets forming part of the Relevant Collateral (as the case may be) denominated in the Settlement Currency.

  • Principal Proceeds With respect to any Collection Period or Determination Date, all amounts received by the Issuer during the related Collection Period that do not constitute Interest Proceeds and any other amounts that have been designated as Principal Proceeds pursuant to the terms of this Indenture.

  • Loss Proceeds means, collectively, all Insurance Proceeds and all Condemnation Proceeds.

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

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

  • Disposal Proceeds means the proceeds of a Non-Distressed Disposal (as defined in paragraph (b) below).

  • 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.

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

  • Equity Issuance Proceeds means, with respect to any Equity Issuance, all cash and cash equivalent investments received by the Borrower or any of its Subsidiaries from such Equity Issuance 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 in connection with such Equity Issuance.

  • 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).

  • 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.

  • 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

  • Net Loss Proceeds means the aggregate cash proceeds received by the Company or any of its Restricted Subsidiaries in respect of any Event of Loss, including, without limitation, insurance proceeds, condemnation awards or damages awarded by any judgment, net of:

  • Event of Loss Proceeds means, with respect to any proceeds from any Event of Loss, all Satellite insurance proceeds received by the Issuer or any of the Restricted Subsidiaries in connection with such Event of Loss, after

  • 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.

  • Sale Proceeds means the net proceeds from the sale and/or realisation of the Charged Assets (excluding any Charged Assets which comprise cash) by the Realisation Agent in accordance with the Conditions (after deduction therefrom by the Realisation Agent of its usual fees and any costs and expenses incurred in connection with the sale of such Charged Assets). 7. Additional Provisions:

  • 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.

  • Capital Proceeds means the gross receipts received by the Company from a Capital Transaction.

  • 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.

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

  • Total Loss Proceeds means the proceeds of any insurance or any compensation or similar payment arising in respect of a Total Loss.

  • Investment Proceeds means, with respect to any Determination Date, all interest and other investment earnings (net of losses and investment expenses) on funds on deposit in the Series 1996-1 Accounts, together with an amount equal to the Series 1996-1 Allocation Percentage of the interest and other investment earnings on funds held in the Collection Account credited as of such date to the Collection Account pursuant to Section 4.02 of the Agreement.

  • Insurance Proceeds With respect to each Mortgage Loan, proceeds of insurance policies insuring the Mortgage Loan or the related Mortgaged Property.