Special Hazard Loss Limit. As of the Cut-off Date, $2,896,541, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1% of the aggregate of the Scheduled Principal Balances of the Mortgage Loans; (ii) twice the Scheduled Principal Balance of the Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to Mortgage Loans since the Closing Date.
Special Hazard Loss Limit. As of the Cut-off Date, $8,000,000.00 with respect to Pool 1 and $13,173,761.00 with respect to Pool 2, Pool 3, Pool 4, Pool 5 and Pool 6, which amounts shall be reduced in each case from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1% of the aggregate of the Scheduled Principal Balances of the Mortgage Loans in the related Pool or Pools; (ii) twice the Scheduled Principal Balance of the Mortgage Loan in the related Pool or Pools having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the Mortgage Loans in the related Pool or Pools secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans in the related Pool or Pools of any such postal zip code area and (b) the Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to Mortgage Loans in the related Pool or Pools since the Closing Date.
Special Hazard Loss Limit. As of the Cut-off Date, $5,062,820, which ------------------------- amounts shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1% of the aggregate of the Scheduled Principal Balances of the Mortgage Loans; (ii) twice the Scheduled Principal Balance of the Mortgage Loan in the related Mortgage Pool having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to Mortgage Loans in the related Mortgage Pool since the Closing Date.
Examples of Special Hazard Loss Limit in a sentence
The Class B Certificateholders shall bear all Excess Credit Losses, Bankruptcy Losses up to the Bankruptcy Loss Limit, Fraud Losses up to the Fraud Loss Limit and Special Hazard Losses up to the Special Hazard Loss Limit until the Class B Principal Balance equals zero.
The date on which the Special Hazard Loss Limit is reduced to zero.
Any Bankruptcy Loss, or portion thereof, in excess of the then-applicable Bankruptcy Loss Limit, any Fraud Loss, or portion thereof, in excess of the then-applicable Fraud Loss Limit, and any Special Hazard Loss, or portion thereof, in excess of the then-applicable Special Hazard Loss Limit.
As of the Cut-off Date 6,543,823.67, which amount shall be reduced from time to time to an amount equal, on any Distribution Date, to the Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to Mortgage Loans since the Closing Date.
More Definitions of Special Hazard Loss Limit
Special Hazard Loss Limit. Not applicable.
Special Hazard Loss Limit. As of the Cut-off Date, $2,445,541, which ------------------------- amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1% of the aggregate of the Scheduled Principal Balances of the Mortgage Loans; (ii) twice the Scheduled Principal Balance of the Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the Special Hazard Loss Limit as of the Closing Date less the amount of Special Hazard Losses incurred since the Closing Date. Startup Day: The day designated as such pursuant to Section 10.0l(b) ----------- hereof. Subordinate Certificate: Any Class B Certificate. -----------------------
Special Hazard Loss Limit. As of the Cut-off Date, $13,828,944.00, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1% of the aggregate of the Scheduled Principal Balances of the Mortgage Loans; (ii) twice the Scheduled Principal Balance of the Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the applicable Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date. All the foregoing calculations shall be determined on an aggregate basis rather than by Mortgage Pool.
Special Hazard Loss Limit. If an initial special hazard loss limit is stated in the Series Terms, for a distribution day, the initial special hazard loss limit minus the sum of (i) the aggregate amount of special hazard losses and (ii) the Adjustment Amount (as defined below) as most recently calculated. For each anniversary of the cut-off date, the Adjustment Amount will be the excess of the amount calculated in accordance with the preceding sentence (without giving effect to the deduction of the Adjustment Amount for such anniversary) over the greater of (A) the product of the special hazard percentage for such anniversary multiplied by the aggregate scheduled principal balance of all the mortgage loans on the distribution day immediately preceding such anniversary and (B) twice the scheduled principal balance of the mortgage loan in the Trust Fund which has the largest scheduled principal balance on the distribution day immediately preceding such anniversary.
Special Hazard Loss Limit. As of each Anniversary, an aggregate amount equal to the greater of (i) [1%] of the aggregate outstanding Principal Balances of all Mortgage Loans on such Anniversary and (ii) the largest percentage obtained by dividing the aggregate outstanding Principal Balances on such Anniversary of the Mortgage Loans secured by Mortgaged Properties located in a single, five-digit zip code area in the State of [California] by the outstanding Principal Balance of all the Mortgage Loans on such Anniversary, multiplied by the aggregate outstanding Principal Balances of all Mortgage Loans on such Anniversary.
Special Hazard Loss Limit. As of the Cut-off Date, $24,500,000.
Special Hazard Loss Limit. As of the Cut-off Date, $7,987,462, with respect to Pool 1, and $4,407,038, with respect to Pool 2, which amounts shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1% of the aggregate of the Scheduled Principal Balances of the Mortgage Loans in the related Mortgage Pool; (ii) twice the Scheduled Principal Balance of the Mortgage Loan in the related Mortgage Pool having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the Mortgage Loans in the related Mortgage Pool secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans in the related Mortgage Pool of any such postal zip code area and (b) the applicable Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to Mortgage Loans in the related Mortgage Pool since the Closing Date.