Principal Receipts definition

Principal Receipts has the meaning specified in Section 5.2. Pro Rata Basis has the meaning specified in Section 8.2. Put Option Agreement means the agreement between Lender and TALF LLC, pursuant to which Lender shall have the option to sell or assign from time to time, and TALF LLC shall have the obligation to purchase from Lender from time to time,

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Principal Receipts means, in relation to the Mortgages Trustee, any payment in respect of principal received in respect of any Mortgage Loan, whether as all or part of a Monthly Payment in respect of such Mortgage Loan, on redemption (including partial redemption) of such Mortgage Loan, on enforcement or on the disposal of such Mortgage Loan or otherwise (including payments pursuant to any Insurance Policy)(and which may include the amount of any Overpayment in respect of any Non-Flexible Mortgage Loan, but only to the extent permitted by Clause 13.1 (Non-Flexible Mortgage Loans) of the Mortgages Trust Deed, and which also may include the amount of any Further Contribution made by Funding from time to time) and in relation to any distributions of Principal Receipts which have been or are to be made on a Distribution Date, Principal Receipts shall mean Mortgages Trustee Principal Receipts;

Principal Receipts means any payment in respect of principal received in respect of any Loan (including payments pursuant to any Insurance Policies), whether as all or part of a Monthly Payment in respect of such Loan, on redemption (including partial redemption) of such Loan, on enforcement of such Loan (including the proceeds of sale of the relevant Property) or on the disposal of such Loan or otherwise (without double counting but including principal received or treated as received after completion of the enforcement procedures);

Examples of Principal Receipts in a sentence

• The Cash Manager shall ensure that all Funding 1 Principal Receipts reserved by Funding 1 to pay the relevant Bullet Loan Tranches and the Scheduled Amortisation Instalments are recorded on the Cash Accumulation Ledger.

• The Cash Manager shall (unless the intended recipient of the relevant payment agrees otherwise) on each Distribution Date, withdraw Cash from the Mortgages Trustee GIC Account (to the extent only that such withdrawal does not cause the Mortgages Trustee GIC Account to become overdrawn) in an aggregate amount equal to the Mortgages Trust Available Principal Receipts on each Distribution Date to make the payments in the order of priority set out in clause 14 of the Mortgages Trust Deed.

• The Cash Manager shall also determine the amount of Mortgages Trust Available Principal Receipts that (absent any distributions of Mortgages Trust Available Principal Receipts to be made in respect of the Funding 1 Loan) are available to be distributed to the Seller (the Potential Seller Principal Distribution Amount).

More Definitions of Principal Receipts

Principal Receipts means receipts in respect of Loans which are not Revenue Receipts including the following (to the extent that such amounts are not Revenue Receipts):

Principal Receipts has the meaning specified in Section 5.2.

Principal Receipts means, on a relevant Calculation Date, an amount equal to the aggregate of (without double counting):

Principal Receipts means any payment by a mortgagor or any other recovery of principal on a Mortgage Loan, including scheduled and unscheduled installments of principal on the Mortgage Loan whether paid to the Trustee directly or through payments on or in disposition of a Certificate. Principal Receipts includes, without limitation, the portion of any Insurance Proceeds (to the extent not applied to the repair or restoration of any mortgaged premises), Liquidation Proceeds, amounts from the sale or other disposition of a Mortgage Loan (whether in the format of a Whole Loan or Certificate) or net recovery from Supplemental Mortgage Coverage to the extent not included in Insurance Proceeds, in each case representing such principal amounts.

Principal Receipts means in relation to the Mortgages Trustee any payment in respect of principal received in respect of any Mortgage Loan, whether as all or part of a Monthly Payment in respect of such Mortgage Loan, on redemption (including partial redemption) of such Mortgage Loan, on enforcement or on the disposal of such Mortgage Loan or otherwise (including payments pursuant to any Insurance Policy)(and which may include the amount of any Overpayment in respect of any Non-Flexible Mortgage Loan, but only to the extent permitted by Clause 13.1 (Non-Flexible Mortgage Loans) of the Mortgages Trust Deed, and which also may include the amount of any Further Contribution made by Funding from time to time);

Principal Receipts means in relation to a Collection Period, the amount credited (or in relation to a Determination Period, the actual amount that should have been credited) to the Principal Ledger for such Collection Period.

Principal Receipts means the product of (a) 1 minus the Interest Determination Ratio and (b) all collections received by the Issuer during such Determination Period;