Takeout Proceeds definition

Takeout Proceeds means as to each Purchased Loan which is subject to a Takeout Commitment, the actual amount of proceeds delivered to the Buyer, for the account of the Buyer, by the applicable Takeout Investor for the purchase of such Purchased Loan.

Takeout Proceeds. With respect to any Mortgage Loan Pool, the related Trade Principal plus accrued interest as calculated in accordance with Section 3(a)(2), as amended by any related Settlement Modification Letter accepted by Purchaser.

Takeout Proceeds means as to each Settlement Date, the actual amount of proceeds delivered to the Lender by the applicable Takeout Investor for the purchase of Mortgage Loans on such Settlement Date.

Examples of Takeout Proceeds in a sentence

• A portion of the Takeout Proceeds in an amount equal to the Recognized Value of such Purchased Loan shall be applied to the Repurchase Price of the outstanding Transactions.

• The Buyer shall not be liable to the Seller or any other Person to the extent that the Buyer follows instructions given to it by the Seller in a Takeout Proceeds Identification Letter.

• Upon receipt by the Buyer of payment of the Repurchase Price in respect of such Purchased Loan, the Buyer shall release and remit to the Seller the amount of any Takeout Proceeds in excess of the Recognized Value of such Purchased Loans (the “Remittance Amount”); provided, that, both immediately before and after giving effect to such release and remittance, (i) there is no Default or Event of Default under this Repurchase Agreement or any other Repurchase Document and (ii) there is no Margin Deficiency.

• Any Settlement Information and/or Takeout Proceeds received by Purchaser (or Custodian, if applicable) after 12:00 p.m. San Francisco, California time on a Business Day (or at any time on a day which is not a Business Day) shall be deemed for all purposes to have been received on the next Business Day.

• Each Seller hereby assigns to Purchaser, free of any security interest, lien, claim or encumbrance of any kind, such Seller's rights, under each Takeout Commitment to the full extent permitted by Takeout Investor, to deliver the Mortgage Loan(s) specified therein to Takeout Investor and to receive the Takeout Proceeds therefor from Takeout Investor.

More Definitions of Takeout Proceeds

Takeout Proceeds means, with respect to any Mortgage Loan, the related Trade Principal plus accrued interest as calculated in accordance with Section 2.01(d).

Takeout Proceeds. The amount of funds Takeout Investor pays to Purchaser on a particular Business Day as identified by the related Settlement Information.

Takeout Proceeds the amount of funds a Takeout Investor pays with respect to a Mortgage Loan as identified by the related Settlement Information.

Takeout Proceeds means, with respect to any Purchased Loan, the proceeds received from the sale of the Purchased Loan under the Takeout Commitment.

Takeout Proceeds means as to each Mortgage Loan which is subject to a Takeout Commitment, the actual amount of proceeds delivered to the Buyer, for the account of the Buyer, by the applicable Takeout Investor for the purchase of such Mortgage Loan.

Takeout Proceeds means as to each Mortgage Loan pledged to the Agent for the benefit of the Lenders hereunder which is subject to a Takeout Commitment, the actual amount of proceeds delivered to the Agent pursuant to Section 2.07(d) by the applicable Takeout Investor for the purchase of such Mortgage Loans.

Takeout Proceeds means, with respect to a Mortgage Loan, the net amount of funds the Takeout Investor is obligated to pay for a Mortgage Loan on the Takeout Funding Date according to the Takeout Commitment for that Mortgage Loan.