Principal Prepayment Amount definition

Principal Prepayment Amount. For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

Principal Prepayment Amount. For any Distribution Date, the sum of (i) Curtailments received during the Prior Period from the Mortgage Loans and (ii) Payoffs received during the Payoff Period from the Mortgage Loans, such sum reduced (but not to less than zero) by the aggregate of Negative Amortization Amounts with respect to the Mortgage Loans for the Due Date in the calendar month of such Distribution Date.

Principal Prepayment Amount. As defined in the Trust Agreement.

Examples of Principal Prepayment Amount in a sentence

• With respect to any Distribution Date and (x) any Principal Prepayment Amount, the difference between (i) one full month’s interest at the applicable Note Rate (after giving effect to any applicable Relief Act Reduction), as reduced by the applicable Servicing Fee Rate on the outstanding principal balance of such Mortgage Loan immediately prior to such prepayment and (ii) the amount of interest actually received with respect to such Mortgage Loan in connection with such Principal Prepayment Amount.

• The Company shall be responsible for calculating the Mandatory Principal Prepayment Amount and the Mandatory Prepayment Price.

• With respect to any Distribution Date and any Principal Prepayment Amount, the difference between (i) one full month’s interest at the applicable Note Rate (after giving effect to any applicable Relief Act Reduction), as reduced by the applicable Servicing Fee Rate, on the outstanding principal balance of such Mortgage Loan immediately prior to such prepayment and (ii) the amount of interest actually received with respect to such Mortgage Loan in connection with such Principal Prepayment Amount.

• The Trustee shall not at any time be under any duty or responsibility to any Holder to determine whether any Mandatory Principal Prepayment is payable, or with respect to the nature, extent, or calculation of the amount of any Mandatory Principal Prepayment Amount or Mandatory Prepayment Price is owed, or with respect to the method employed in such calculation of any Mandatory Principal Prepayment Amount or Mandatory Prepayment Price.

• For the avoidance of doubt, the Initial Mandatory Principal Prepayment Amount with respect to a tax accrual period shall represent the same percentage of the principal amount of each outstanding Note with respect to such tax accrual period.

More Definitions of Principal Prepayment Amount

Principal Prepayment Amount. For any Distribution Date and each Loan Group, the sum of (i) all Payoffs or Curtailments in such Loan Group which were received during the related Prepayment Period, (ii) the principal portion of the Mortgage Loan Purchase Price received in connection with an Optional Termination of such Loan Group pursuant to Section 11.01 up to the portion of the Par Value related to that Loan Group, (iii) the principal portion of the Mortgage Loan Auction Price received in connection with an Auction Sale of such Loan Group pursuant to Section 11.01, up to the portion of the Par Value related to that Loan Group and (iv) all Non-PO Recoveries related to that Loan Group received during the calendar month preceding the month of that Distribution Date.

Principal Prepayment Amount. For any Distribution Date and Loan Group I, Loan Group II or Loan Group III, the sum of all Principal Prepayments relating to the Mortgage Loans in such Loan Group which were received during the related Prepayment Period.

Principal Prepayment Amount. For any Distribution Date and any Collateral Group, the sum of the products, for each Mortgage Loan contributing to such Collateral Group, of (i) the Applicable Fraction for such Mortgage Loan in respect of such Collateral Group and (ii) all Payoffs and Curtailments for such Mortgage Loan that were received during the preceding calendar month or received during the period beginning on and including the second day of the preceding calendar month and ending on and including the first day of the current calendar month (as specified in the related Servicing Agreement).

Principal Prepayment Amount. As to any Distribution Date, an amount equal to the sum of all voluntary Principal Prepayments received during the related Prepayment Period and the amount of any Subsequent Recoveries received in the prior calendar month.

Principal Prepayment Amount. As to any Distribution Date and any Loan Group, an amount equal to the sum of all voluntary Principal Prepayments on the Mortgage Loans in that Loan Group received during the related Prepayment Period.

Principal Prepayment Amount. On any Distribution Date, the sum, determined separately for each Loan Group, of (i) Curtailments received during the applicable Prepayment Period from such related Loans and (ii) Payoffs received during the applicable Prepayment Period from the related Loans.

Principal Prepayment Amount. For any Distribution Date and Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 or Loan Group 6, the sum of (i) all Principal Prepayments relating to the Mortgage Loans in such Loan Group which were received during the related Prepayment Period and (ii) all Recoveries received during the calendar month preceding the month of that distribution date.