Principal Loss definition

Principal Loss in relation to a Mortgage Loan and a Liquidation Date means an amount calculated as follows: PL = MLP + RE - BC - LP where: PL = the Principal Loss as at the Liquidation Date; MLP = the Mortgage Loan Principal as at the Liquidation Date; RE = the Restoration Expenses reasonably and necessarily incurred up to and including the Liquidation Date; BC = the Break Costs as at the Liquidation Date provided that Break Costs will only be included in the calculation of Principal Loss if the Trustee is then a party to a Fixed Rate Swap; and LP = any Liquidation Proceeds received up to and including the Liquidation Date provided that for the purposes of this paragraph Liquidation Proceeds will not include any Liquidation Proceeds which have been applied against an Income Loss or are to be applied against an Income Loss on the Liquidation Date, provided that there will only be such a Principal Loss if the result of the above calculation is greater than zero.
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Principal Loss in respect of a Mortgage means the amount by which the total amount received from or on behalf of the Mortgage Borrower in respect of such Mortgage on Completion of Enforcement Procedures (as defined in the Master Agreement) in respect of such Mortgage, (after discharging all amounts outstanding in respect of such Mortgage other than the Principal Balance) falls short of the Principal Balance of such Mortgage.
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Principal Loss means, for a Quarterly Collection Period, the amount of any Liquidation Loss for that Quarterly Collection Period referred to in clause 5.8(b).
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Examples of Principal Loss in a sentence

  • With respect to each Payment Date, a percentage equal to (i) the Principal Loss Amount for such Payment Date and all prior Payment Dates less the Principal Recovery Amount for such Payment Date and all prior Payment Dates; divided by (ii) the aggregate unpaid principal balance of the Reference Obligations in the Reference Pool as of the Cut-off Date.

  • On each Payment Date on or prior to the Termination Date, the Preliminary Principal Loss Amount, the Preliminary Tranche Write-down Amount, the Preliminary Tranche Write-up Amount, and the Preliminary Class Notional Amount will be computed prior to allocating the Modification Loss Amount, as set forth below.

  • Any amounts allocated to any of the Reference Tranches in the second, fourth, sixth, or eighth priority above will be included in the Principal Loss Amount for the related Payment Date.

  • Any amounts allocated to any of the Reference Tranches in the second, fifth, sixth, eighth, or tenth priority above will be included in the Principal Loss Amount for the related Payment Date.

  • On each Payment Date on or prior to the Termination Date, the Preliminary Principal Loss Amount, Preliminary Tranche Write-down Amount, Preliminary Tranche Write-up Amount and Preliminary Class Notional Amount will be computed prior to the allocation of the Modification Loss Amount.

  • Any amounts allocated to any of the Reference Tranches in the second, fourth, seventh, eighth or tenth priority above will be included in the Principal Loss Amount for the related Payment Date.

  • During the Revolving Period, Principal Collections and amounts applied to reimburse Loss Amounts and Certificate Principal Loss Amounts allocable to the assets of the 1998-C SUBI represented by the 1998-C SUBI Certificate generally will be reinvested in Subsequent Contracts and Subsequent Leased Vehicles from among other unallocated Contracts and Leased Vehicles owned by the Titling Trust.

  • Each Biweekly Report shall also include a Maximum Advance Rate Test Calculation Statement, the calculation of the Principal Loss Ratio and the Vintage Default Ratio, and a Data Tape, in each case, as determined as of the last day of the Collection Period applicable to such Biweekly Report.

  • During the Revolving Period, Principal Collections and amounts applied to reimburse Loss Amounts and Certificate Principal Loss Amounts allocable to the assets of the 1998-B SUBI represented by the 1998-B SUBI Certificate generally will be reinvested in Subsequent Contracts and Subsequent Leased Vehicles from among other unallocated Contracts and Leased Vehicles owned by the Titling Trust.

  • Mitigate Risk of Principal Loss and Build a Portfolio of Equity-Related Securities.


More Definitions of Principal Loss

Principal Loss. ’ means, in relation to any Asset on any day, the amount (if any) determined in good faith by the Servicer on such day as being the principal amount due in respect of such Asset after the Servicer has completed the Enforcement Procedures in relation to such Asset in accordance with Paragraph 3 (Proceedings against Obligors) of Schedule 1 (Enforcement Services to be provided by the Servicer) of the Enforcement Services Agreement;
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Principal Loss means the Principal Outstanding Balance of a Mortgage Loan that remains due and payable but unpaid under such Mortgage Loan after the Mortgage Administrator, acting reasonably and in good faith, has:
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Principal Loss. "Loss," and "Losses" means the principal amount due under an Enrolled Loan, and not paid by a Borrower in default as described in OAR 123-300-1000. Principal Loss does not include unpaid accrued interest, fees, legal expenses, costs incurred in the liquidation of assets, costs incurred in realization of personal or other financial guarantees, or other costs incurred by the lender related to the defaulted Enrolled Loan.¶
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Principal Loss means the amount (if any) determined in good faith by the Servicer, on behalf of the Fund, as being the principal amount due in respect of a Mortgage Backed Credit after the Completion of Enforcement Procedures in relation to such Mortgage Backed Credit.
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Principal Loss means the amount (if any) determined in good faith by the Servicer, on behalf of the Fund, as being the principal amount due in respect of a Mortgage Asset after the Completion of Enforcement Procedures in relation to such Mortgage Asset.
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Principal Loss means, for a Quarterly Collection Period, the amount of any Liquidation Loss for that Quarterly Collection Period referred to in clause 5.10(b).
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Related to Principal Loss

  • Realized Principal Loss means, with respect to each Mortgage Loan (including an REO Mortgage Loan), (i) in the case of a Liquidation Realized Loss, the amount of such Liquidation Realized Loss, to the extent that it does not exceed the Unpaid Principal Balance (plus the amount of any Unliquidated Advance with respect to such Mortgage Loan) of the Mortgage Loan, (ii) in the case of a Modification Loss, the amount of such Modification Loss set forth in clause (i) of the definition thereof, (iii) in the case of a Bankruptcy Loss, the portion of such Bankruptcy Loss attributable to the reduction in the principal balance of the related Mortgage Loan, (iv) in the case of an Expense Loss, the amount of such Expense Loss (other than Expense Losses resulting from the payment of Special Servicing Fees) to the extent that such Expense Loss does not exceed amounts collected in respect of the Mortgage Loans that were identified as allocable to principal in the Collection Period in which such Expense Losses were incurred, and any such excess shall be treated as a Realized Interest Loss, (v) any Nonrecoverable Advance reimbursed from collections of principal on the Mortgage Loans (including REO Mortgage Loans), and (vi) any Unliquidated Advance that is determined by the Master Servicer to be a Nonrecoverable Advance.

  • Total Loss means, in relation to a Ship:

  • Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

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

  • Partial Loss means, with respect to any ACS Group Aircraft, any event or occurrence of loss, damage, destruction or the like which is not a Total Loss.