Surplus Proceeds definition

Surplus Proceeds shall have the meaning given such term in the Xxxxxxx Mac Acknowledgment Agreement.

Surplus Proceeds has the meaning assigned to such term in clause (f) of the definition of “Permitted Asset Sales”.

Surplus Proceeds means “Surplus Proceeds” as defined in the Acknowledgment Agreement.

Examples of Surplus Proceeds in a sentence

• Authorize Two Water Plant Projects for Full Expenditure of Surplus Proceeds from Sale of 2018 Bonds.

• HAGLUND owned a legal interest in the real property at 1400 Altamont St., Marquette, MI, which was foreclosed upon as a result of delinquent real property taxes and sold by Marquette County at a public foreclosure auction in calendar year 2018, resulting in Surplus Proceeds of $13,940.00.

• The questions of law or fact common to the named Plaintiffs and Plaintiff Class Members predominate over any questions affecting only individual members, the latter which would primarily, or only, consist of the amount of the individual Surplus Proceeds taken from them and a class action is superior to other available methods for fairly and efficiently adjudicating the controversy.

• Plaintiff MAX TRACEY owned a legal interest in the real property at 5612 Madison St. NW, Rapids City, MI, which was foreclosed upon as a result of delinquent real property taxes and sold by Kalkaska County at a public foreclosure auction in calendar year 2019, resulting in Surplus Proceeds of $4,987.83.

• In July 2020, the Michigan Supreme Court vindicated the arguments made by Plaintiffs’ counsel in this matter, ruling that the retention of Surplus Proceeds constituted an unconstitutional taking.

More Definitions of Surplus Proceeds

Surplus Proceeds means any funds, amounts, proceeds or credits derived from the foreclosure of the Mortgaged Property by a holder of the Bond Mortgage or this Instrument (except if and to the extent that such foreclosure is triggered by a default by Lender under the Credit Enhancement Agreement) which exceeds the amount required to satisfy the obligations secured by the Bond Mortgage.

Surplus Proceeds means that amount (if any) of the aggregate of (i) the Post-Demand Date Net Proceeds and (ii) any Demand Date Suspense Net Proceeds, which are not applied by the Lender in discharge of the Business Facilities in accordance with its obligations under paragraphs 1 and 2 of this Schedule because such amount represents a surplus recovery or realisation and/or because such amount has been utilised by the Lender in repaying any Linked Collateral Net Proceeds Repayment Amount, any Surplus Post-Demand Date Net Proceeds Repayment Amount or any Surplus Pre-Demand Date Net Proceeds Repayment Amount payable to the Secretary of State respectively under paragraphs 5.1 and 5.2 of this Schedule; and

Surplus Proceeds means any monies available for payment to the Secured Party and to the Servicer, equal to the balance of monies remaining from the Servicing Transfer Proceeds or the Termination Fee after deduction therefrom of the amounts of Xxxxxxx Mac's Claims and Xxxxxxx Mac's Servicing Transfer Costs.

Surplus Proceeds as defined in the Acknowledgment Agreement.

Surplus Proceeds means proceeds of sales of any Servicing Rights to the extent that such proceeds have been received by, or for the account of, the Borrower or the Administrative Agent or any Lender free and clear of all Xxxxxx Mae rights and other restrictions on transfer under applicable Xxxxxx Xxx guidelines.

Surplus Proceeds refers to the difference between an Eligible Property’s actual sale price and the Minimum Sale Price. “Surplus Proceeds” do not include interest from the date of the sale.

Surplus Proceeds has the meaning ascribed thereto in Clause 20.6.