Realized Loss Amount definition
Realized Loss Amount. With respect to any Distribution Date, the amount, if any, by which the aggregate Class Certificate Balance of the Certificates after distributions of principal on such Distribution Date exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of such Distribution Date.
Realized Loss Amount has the meaning set forth in Section 6.4 hereof.
Realized Loss Amount. Any of the Class A-1 Realized Loss Amount, Class A-2 Realized Loss Amount, Class A-3 Realized Loss Amount and Class A-4 Realized Loss Amount, as applicable.
Examples of Realized Loss Amount in a sentence
Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing, on a dollar for dollar basis, the Certificate Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Certificate Principal Balance thereof is reduced to zero.
The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Principal Balance thereof is reduced to zero.
More Definitions of Realized Loss Amount
Realized Loss Amount means, as to any Payment Date, the excess, if any, of the Aggregate Certificate Principal Balance, after giving effect to distributions in respect of principal on the Certificates on such Payment Date, but prior to any reduction in Class Principal Balances as a result of any Realized Loss Amount for such Payment Date, over the Pool Scheduled Principal Balance with respect to such Payment Date.
Realized Loss Amount means with respect to the Group I Student Loans and the Group II Student Loans, respectively, (1) with respect to any Distribution Date prior to the Group I or Group II Parity Date, as applicable, an amount equal to the positive difference of any of (x) the sum of the Group I or Group II Pool Balance, as applicable, and amounts on deposit in the Group I or Group II Pre-Funding Account, as applicable, as of the last day of the second preceding Collection Period (or, in the case of the first Distribution Date, as of the Cutoff Date), minus the sum of the Group I or Group II Pool Balance, respectively, and amounts on deposit in the Group I or Group II Pre-Funding Account, respectively, as of the last day of the related Collection Period, minus (y) the amount of Group I or Group II Available Funds, as the case may be, remaining to be distributed as the related Noteholders' Principal Distribution Amount for the Group I or Group II Notes, respectively, on such Distribution Date pursuant to Sections 5.05(c)(X)(6) or 5.05(c)(Y)(8), respectively, of the Sale and Servicing Agreement and (2) with respect to any Distribution Date on and after the Group I or Group II Parity Date, respectively, an amount equal to (A) the related Noteholders' Principal Distribution Amount for the Group I or Group II Notes, respectively, for such Distribution Date minus (B) the amount of Group I or Group II Available Funds, respectively, remaining to be distributed as the related Noteholders' Principal Distribution Amount for the Group I or Group II Notes, respectively, on such Distribution Date pursuant to Sections 5.05(c)(X)(6) or 5.05(c)(Y)(8), respectively, of the Sale and Servicing Agreement.
Realized Loss Amount means (1) with respect to any Distribution Date prior to the Parity Date an amount equal to the positive difference of any of (x) the sum of the Pool Balance and amounts on deposit in the Pre-Funding Account as of the last day of the second preceding Collection Period (or, in the case of the first Distribution Date, as of the Cutoff Date), minus the sum of the Pool Balance and amounts on deposit in the Pre-Funding Account as of the last day of the related Collection Period, minus (y) the amount of Available Funds remaining to be distributed as Noteholders' Principal Distribution Amount on such Distribution Date pursuant to Section 5.05(c)(viii) of the Sale and Servicing Agreement and (2) with respect to any Distribution Date on and after the Parity Date, an amount equal to (A) the Noteholders' Principal Distribution Amount for such Distribution Date minus (B) the amount of Available Funds remaining to be distributed as Noteholders' Principal Distribution Amount on such Distribution Date pursuant to Section 5.05(c)(viii) of the Sale and Servicing Agreement.
Realized Loss Amount. With respect to any Payment Date, an amount equal to Realized Losses on the Mortgage Loans incurred during the prior Collection Period.
Realized Loss Amount means with respect to the Group I Student Loans and the Group II Student Loans, respectively, (1) with respect to any Distribution Date prior to the Group I or Group II Parity Date, as applicable, an amount equal to the positive difference of any of (x) the sum of the Group I or Group II Pool Balance, as applicable, and amounts on deposit in the Group I or Group II Pre-Funding Account, as applicable, as of the last day of the second preceding Collection Period (or, in the case of the first Distribution Date, as of the Cutoff Date), minus the sum of the Group I or Group II Pool Balance, respectively, and amounts on deposit in the Group I or Group II Pre-Funding Account, respectively, as of the last day of the related Collection Period, minus (y) the amount of Group I or Group II Available Funds, as the case may be, remaining to be distributed as the related Noteholders’ Principal Distribution Amount for the Group I or Group II Notes, respectively, on such Distribution Date pursuant to Sections 5.05(c)(X)(6) or 5.05(c)(Y)(8), respectively, of the Sale and Servicing Agreement and (2) with respect to any Distribution Date on and after the Group I or Group II Parity Date, respectively, an amount equal to (A) the related Noteholders’ Principal Distribution Amount for the Group I or Group II Notes, respectively, for such Distribution Date minus (B) the amount of Group I or Group II Available Funds, respectively, remaining to be distributed as the related Noteholders’ Principal Distribution Amount for the Group I or Group II Notes, respectively, on such Distribution Date pursuant to Sections 5.05(c)(X)(6) or 5.05(c)(Y)(8), respectively, of the Sale and Servicing Agreement.
Realized Loss Amount. With respect to each Distribution Date, the difference between the aggregate Certificate Principal Balance of the Certificates and the aggregate unpaid certificate principal balance of the Underlying Certificates, after giving effect to the distribution to be made on such Distribution Date.
Realized Loss Amount means with respect to the Group I Student Loans and the Group II Student Loans, respectively, (1) with respect to any Distribution Date prior to the Group I or Group II Parity Date, as applicable, an amount equal to the positive difference of any of (x) the sum of the Group I or Group II Pool Balance, as applicable as of the last day of the second preceding Collection Period (or, in the case of the first Distribution Date, as of the Cutoff Date), minus the sum of the Group I or Group II Pool Balance, respectively, as of the last day of the related Collection Period, minus (y) the amount of Group I or Group II Available Funds, as the case may be, remaining to be distributed as the related Noteholders’ Principal Distribution Amount for the Group I or Group II Notes, respectively, on such Distribution Date pursuant to Sections 5.05(c)(X)(5) or 5.05(c)(Y)(6), respectively, of the Sale and Servicing Agreement and (2) with respect to any Distribution Date on and after the Group I or Group II Parity Date, respectively, an amount equal to (A) the related Noteholders’ Principal Distribution Amount for the Group I or Group II Notes, respectively, for such Distribution Date minus (B) the amount of Group I or Group II Available Funds, respectively, remaining to be distributed as the related Noteholders’ Principal Distribution Amount for the Group I or Group II Notes, respectively, on such Distribution Date pursuant to Sections 5.05(c)(X)(5) or 5.05(c)(Y)(6), respectively, of the Sale and Servicing Agreement.