Security Principal Balance definition

Security Principal Balance. As to any Mortgage Security at any date of determination, the unpaid principal balance of such Mortgage Security at such date.

Security Principal Balance. As to any Xxxxxx Mae Security at any date of determination, the unpaid principal balance of such Xxxxxx Xxx Security at such date. Settlement Date: March 27, 1997.

Security Principal Balance. As to any Mortgage Security at any date of determination, the unpaid principal balance of such Mortgage Security at such date. Settlement Date: July 30, 1999.

Examples of Security Principal Balance in a sentence

• This Security shall accrue interest during each Interest Accrual Period on the Security Principal Balance of such Security at a rate per annum equal to the related Pass-Through Rate.

• Any distribution to the Holder of this Security in reduction of the Security Principal Balance hereof is binding on such Holder and all future Holders of this Security and any Security issued upon the transfer hereof or in exchange therefor or in lieu hereof whether or not notation of such distribution is made upon this Security.

• If the Controlling Party has directed such sale, the Policy or the Guarantee, as applicable, will cover any amounts by which such remaining net proceeds are insufficient to pay the related Security Principal Balance of such Class of Securities, together with all accrued and unpaid interest thereon.

• On the Closing Date, the aggregate Security Principal Balance of the Securities will equal the aggregate Scheduled Principal Balance of the Mortgage Assets as of the Cut-off Date.

• Such assignment includes all of the Company's rights to Monthly Payments on the Mortgage Assets due after the Cut-off Date, and all other payments of principal (and interest) made on or after the Cut-off Date that are reflected in the initial aggregate Security Principal Balance of the Securities for a Trust.

More Definitions of Security Principal Balance

Security Principal Balance. As of the date of determination with respect to any GNMA Security, the then outstanding principal balance of such GNMA Security. Settlement Date: April 21, 1997.

Security Principal Balance means, for any individual Security, the maximum dollar amount of principal to which the Holder thereof is then entitled hereunder, such amount as of any date of determination being equal to the product of the initial Security Principal Balance of such Security, as specified on the face thereof, multiplied by a fraction, the numerator of which is the principal balance of the related Subclass then outstanding in accordance with Section 2.06(b) and the denominator of which is the initial principal balance of such Subclass as of the date of issuance thereof.

Security Principal Balance. As of the date of determination with respect to any Xxxxxx Xxx Security, the then outstanding principal balance of such Xxxxxx Mae Security.

Security Principal Balance. As of the date of determination with respect to the Xxxxxx Xxx Security, the then outstanding principal balance of such Xxxxxx Mae Security. Settlement Date: January 29, 1999.

Security Principal Balance. As to any Xxxxxx Mae Security at any date of determination, the unpaid principal balance of such Xxxxxx Xxx Security at such date.

Security Principal Balance. The Class A-1 Certificate Principal Balance and/or the Class A-2 Note Principal Balance, as applicable.

Security Principal Balance. With respect to each Class of Securities, on any Distribution Date, the aggregate principal amount, if any, of such Class of Securities immediately prior to such Distribution Date (or in the case of the first Distribution Date, an amount equal to the aggregate initial principal amount of such Class of Securities as of the Closing Date) net of the sum of (a) the amounts to be applied on such Distribution Date to reduce the aggregate principal amount of such Class of Securities in accordance with the Pooling and Master Servicing Agreement, and (b) the aggregate of all Realized Losses, if any, to be allocated to such Class of Securities on such Distribution Date pursuant to the Pooling and Master Servicing Agreement.