Reference Pool Removal definition

Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool upon the occurrence of any of the following: (i) the Reference Obligation becomes a Credit Event Reference Obligation; (ii) the Reference Obligation is paid in full; (iii) the Reference Obligation is seized pursuant to an eminent domain proceeding with respect to the underlying mortgage loan; (iv) the related loan seller or servicer repurchases the Reference Obligation, enters into a full indemnification agreement with Xxxxxx Xxx with respect to the Reference Obligation or pays a fee in lieu of repurchase with respect to the Reference Obligation; (v) Xxxxxx Mae elects to sell (A) a delinquent Reference Obligation that is less than 12 months delinquent at the time it is offered for sale or (B) a Reference Obligation that previously had been seriously delinquent and is current at the time it is offered for sale; (vi) Xxxxxx Xxx determines that as a result of a data correction the Reference Obligation does not meet certain Eligibility Criteria; or (vii) the party responsible for the representations and warranties and/or servicing obligations or liabilities with respect to the Reference Obligation has declared bankruptcy or has been put into receivership and an Eligibility Defect is identified that could otherwise have resulted in a repurchase. A Reference Obligation will be removed from the Reference Pool if a data change occurs that causes the Reference Obligation to no longer meet one or more of the criteria set forth in clauses (a), (e), (f), (g), (j) or (k) of the definition of Eligibility Criteria.
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Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool upon the occurrence of any of the following: (i) the Reference Obligation becomes a Credit Event Reference Obligation; (ii) the Reference Obligation is paid in full (except as provided below with regard to a refinancing under the High LTV Refinance Option);
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Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool upon the occurrence of any of the following: (i) the Reference Obligation becomes a Credit Event Reference Obligation; (ii) the Reference Obligation is paid in full (except as provided below with regard to a refinancing under the High LTV Refinance Option);(iii) the Reference Obligation is seized pursuant to an eminent domain proceeding with respect to the underlying mortgage loan; (iv) the related loan seller or servicer repurchases the Reference Obligation, enters into a full indemnification agreement with Fannie Mae with respect to the Reference Obligation or pays a fee in lieu of repurchase with respect to the Reference Obligation; (v) Fannie Mae elects to sell (A) a delinquent Reference Obligation that is less than 12 months delinquent at the time it is offered for sale or (B) a Reference Obligation that previously had been seriously delinquent and is current at the time it is offered for sale; (vi) Fannie Mae determines that as a result of a data correction the Reference Obligation does not meet certain Eligibility Criteria; (vii) the party responsible for the representations and warranties with respect to the Reference Obligation was granted relief by Fannie Mae from liability for potential breaches of specified Eligibility Defects at the time Fannie Mae acquired the ReferenceObligation and an Eligibility Defect is identified that could otherwise have resulted in a repurchase but for the aforementioned relief, provided that the Eligibility Defect is identified on or before the 36th month following the date of Fannie Mae's acquisition of the Reference Obligation; or (viii) the party responsible for the representations and warranties and/or servicing obligations or liabilities with respect to the Reference Obligation (A) has declared bankruptcy or has been put into receivership or (B) has otherwise been relieved of such obligations or liabilities by operation of law or by agreement, and an Eligibility Defect is identified that could otherwise have resulted in a repurchase. In the case of any Reference Obligation to be removed pursuant to clause (i) or (ii) above, the removal will be as of the Payment Date related to the Reporting Period during this the event described in clause (i) or (ii), as applicable, occurred, after giving effect to the payment of all Return Amounts required to be paid on such Payment Date. A Reference Obligation will be removed from the Reference Pool if a data ...
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Examples of Reference Pool Removal in a sentence

  • Modifications Reference Obligations that undergo a temporary or permanentmodification will not be removed from the Reference Pool unless they otherwise meet the criteria for Reference Pool Removal.

  • The removal of any Reference Obligation from the Reference Pool as described above will be treated as a Reference Pool Removal.

  • Each Investor agrees to comply in all respects with the provisions of this Section 4.

  • Any such write-downs will be allocated first to the most subordinate Class of Notes with an outstanding Class Principal Balance.Modifications Reference Obligations that undergo a temporary or permanentmodification will not be removed from the Reference Pool unless they otherwise meet the criteria for Reference Pool Removal.


More Definitions of Reference Pool Removal

Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool after the issuance of the Notes because:
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Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool upon the occurrence of any of the following: (i) the Reference Obligation becomes a Credit Event Reference Obligation; (ii) the Reference Obligation is paid in full (except as provided below with regard to a refinancing under the High LTV Refinance Option); (iii) the Reference Obligation is seized pursuant to an eminent domain proceeding with respect to the underlying mortgage loan; (iv) the related loan seller or servicer repurchases the Reference Obligation, enters into a full indemnification agreement with Fannie Mae with respect to the Reference Obligation or pays a fee in lieu of repurchase with respect to the Reference Obligation;
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Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool upon the occurrence of any of the following: (i) the Reference Obligation becomes a Credit Event Reference Obligation; (ii) the Reference Obligation is paid in full; (iii) the Reference Obligation is seized pursuant to an eminent domain proceeding with respect to the underlying mortgage loan; (iv) the related loan seller or servicer repurchases the Reference Obligation, enters into a full indemnification agreement with Xxxxxx Mae with respect to the Reference Obligation or provides a make-whole payment with respect to the Reference Obligation; (v) Xxxxxx Xxx determines that the Reference Obligation does not meet certain Eligibility Criteria as the result of a data correction; or (vi) the party responsible for the representations and warranties and/or servicing obligations or liabilities with respect to the Reference Obligation declares bankruptcy or is put into receivership after Xxxxxx Mae has requested that it repurchase such Reference Obligation. Reference Obligations will be removed from the Reference Pool if a data change occurs that causes a Reference Obligation to no longer meet any of the Eligibility Criteria set forth in clauses (a), (c), (f), (h) or (i) of the definition of Eligibility Criteria.
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Reference Pool Removal means the removal of a Reference Obligation from the Reference Pool upon the occurrence of any of the following: (i) the Reference Obligation becomes a Credit Event Reference Obligation; (ii) the Reference Obligation is paid in full; (iii) the Reference Obligation is seized pursuant to an eminent domain proceeding with respect to the underlying mortgage loan; (iv) the related loan seller or servicer repurchases the Reference Obligation, enters into a full indemnification agreement with Xxxxxx Xxx with respect to the Reference Obligation or pays a fee in lieu of repurchase with respect to the Reference Obligation; (v) Xxxxxx Mae elects to sell (A) a delinquent Reference Obligation that is less than 12 months delinquent at the time it is offered for sale or (B) a Reference Obligation that previously had been seriously delinquent and is current at the time it is offered for sale; (vi) Xxxxxx Xxx determines that as a result of a data correction the Reference Obligation does not meet certain Eligibility Criteria; (vii) the party responsible for the representations and warranties with respect to the Reference Obligation was granted relief by Xxxxxx Mae from liability for potential breaches of specified Eligibility Defects at the time Xxxxxx Xxx acquired the Reference Obligation and an Eligibility Defect is identified that could otherwise have resulted in a repurchase but for the aforementioned relief, provided that the Eligibility Defect is identified on or before the 36th month following the date of Xxxxxx Mae's acquisition of the Reference Obligation; or (viii) the party responsible for the representations and warranties and/or servicing obligations or liabilities with respect to the Reference Obligation (A) has declared bankruptcy or has been put into receivership or (B) has otherwise been relieved of such obligations or liabilities by operation of law or by agreement, and an Eligibility Defect is identified that could otherwise have resulted in a repurchase. A Reference Obligation will be removed from the Reference Pool if a data change occurs that causes the Reference Obligation to no longer meet one or more of the criteria set forth in clauses (a), (e), (f), (i), (j), (k) or (l) of the definition of Eligibility Criteria. A Reference Obligation that becomes subject to an Origination Rep and Warranty Settlement subsequent to the Cut-off Date may be removed, at its respective unpaid principal balance as of such date, from the Reference Pool by Xxxxxx Xxx at a...
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Reference Pool Removal means, for a Reference Pool, a "Reference Pool Removal" as that term is defined in the related Legacy Prospectus.
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Related to Reference Pool Removal

  • Reference Portfolio Return means on any day, the weighted average return of the Reference Assets calculated as the sum of the Weighted Reference Asset Return of each of the Reference Assets comprising the Reference Portfolio.

  • Reference Portfolio means, the notional portfolio made up of each Reference Asset, as described in this Information Statement under “Reference Portfolio”.

  • Reference Asset means a reference asset of the relevant Index or Investment Strategy in respect of a Series of ETP Securities as specified in the Final Terms.

  • Reference Asset Weight means, in respect of a Reference Asset, the proportion of the Reference Portfolio set out under the heading “Reference Portfolio Weight” for such Reference Asset in the table included under “THE REFERENCE PORTFOLIO, subject to adjustments that may be made pursuant to “DESCRIPTION OF THE NOTES – Adjustments and Exceptional Circumstances”.

  • Relevant Reference Price means the Reference Price on the Final Valuation Date. "Security Holder" means the holder of a Security.

  • Collection Period means, with respect to any Payment Date, the period commencing on the first day of the calendar month immediately preceding the month in which such Payment Date occurs (and, in the case of the first Collection Period, the period from (but excluding) the Cutoff Date) and ending on the last day of the calendar month immediately preceding the month in which such Payment Date occurs.

  • Available Basket Amount means, at any date of determination, an amount (which shall not be less than $0) determined on a cumulative basis equal to the difference between: (a) the sum (without duplication) of: (i) $35,000,000, plus (ii) Cumulative Consolidated Net Income (which shall not be less than zero), plus (iii) the aggregate amount of dividends and distributions received by Borrower or its Restricted Subsidiaries in the form of Cash or Cash Equivalents on or prior to such date from Investments acquired or made utilizing the Available Basket Amount, plus (iv) in the case of the redesignation of an Unrestricted Subsidiary as a Restricted Subsidiary after the Second Amendment Effective Date, the fair market value of the Investment in such Unrestricted Subsidiary at the time of the redesignation of such Unrestricted Subsidiary as a Restricted Subsidiary (which shall not exceed the original amount of such Investment), plus (v) the Net Cash Proceeds received from any issuance or sale of its Equity Interests occurring after the Closing Date (other than issuances of Disqualified Stock and issuances or sales pursuant to an employee stock ownership plan or other employee benefit plan and excluding Net Cash Proceeds of any issuance or sale of Equity Interests for a specifically identified purpose that were expended for such specifically identified purpose without a corresponding reduction of the Available Basket Amount), plus (vi) the after-tax amount (after taking into account any available tax credit or deductions and any tax sharing arrangements) of all Distributions received in Cash by the Loan Parties after the Closing Date that are attributable to their Equity Interests in any Joint Venture or any Subsidiary that is not a Subsidiary Guarantor, plus (vii) all Net Cash Sales Proceeds received from Dispositions permitted by this Agreement, minus (b) the aggregate amount of all Investments, Capital Expenditures, Distributions and payments in respect of Subordinated Obligations, in each case to the extent made after the Closing Date with amounts available under the Available Basket Amount.

  • Unadjusted Reference Interest Rate Replacement means the Reference Interest Rate Replacement excluding the Reference Interest Rate Replacement Adjustment.

  • Reference plane means a plane which is displaced from and parallel to the tomographic plane.

  • Collection Date means the date on which the aggregate outstanding principal amount of the Advances have been repaid in full and all Interest and fees and all other Obligations (other than contingent indemnification and reimbursement obligations which are unknown, unmatured and/or for which no claim giving rise thereto has been asserted) have been paid in full, and the Borrower shall have no further right to request any additional Advances.

  • Reference Assets means the underlying interest contained in the Reference Portfolio, and “Reference Asset” means each of the Reference Assets.