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 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
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Examples of Pool Proceeds in a sentence

  • 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.

  • 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.

  • 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.

  • 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.

  • All Asset Pool Proceeds shall be held in the Collateral Account until the next occurring Distribution Date.

  • Except as otherwise provided in Section 2.9, each Loan shall be paid out of Asset Pool Proceeds collected with respect to the related Asset Pool.

  • 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.

  • 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 and Prepayments (including purchases from a Trust).


More Definitions of Pool Proceeds

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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Related to Pool Proceeds

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

  • 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.

  • 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.

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

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