Variable Funding Balance definition

Variable Funding Balance. With respect to any Payment Date and any Variable Funding Notes, the Initial Variable Funding Balance thereof prior to such Payment Date (a) increased by the Aggregate Balance Differential for such Variable Funding Note immediately prior to such Payment Date and (b) reduced by all distributions of principal thereon prior to such Payment Date.
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Variable Funding Balance means, with respect to any Payment Date and the Variable Funding Notes, the Aggregate Additional Balance Differential immediately prior to such Payment Date reduced by all distributions of principal on the Variable Funding Notes prior to such Payment Date.
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Variable Funding Balance means, with respect to any Payment Date and the Variable Funding Notes, the Aggregate Balance Differential immediately prior to such Payment Date reduced by all distributions of principal on the Variable Funding Notes prior to such Payment Date.
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Examples of Variable Funding Balance in a sentence

  • In addition, on any Payment Date on which the Additional Balance Differential for such Payment Date if added to the aggregate Security Balance of the Variable Funding Notes (after application of any principal payments to be made thereon on such Payment Date) would cause the aggregate Security Balance thereof to exceed the Maximum Variable Funding Balance, then the Security Balance of one or more Certificates shall be increased by the amount of such excess.

  • The Security Balance of the Variable Funding Notes in the aggregate may not exceed the Maximum Variable Funding Balance.

  • The Variable Funding Balance of the Variable Funding Notes at the time of such exchange shall be the initial Capped Funding Balance of the Capped Funding Notes issued in exchange therefor.

  • The Capped Funding Notes shall be issued as physical notes in fully registered form in minimum initial Capped Funding Balances of $10,000 and integral multiples of $1,000 in excess thereof, together with any additional amount necessary to cover (i) the aggregate Variable Funding Balance of the Variable Funding Notes at the time of the denominational exchange thereof or (ii) the aggregate Capped Funding Balance of any Capped Funding Notes issued in an exchange described in paragraph (d) below.

  • Any Variable Funding Balance not represented by a Capped Funding Note shall result in the issuance of a new Variable Funding Note having an initial Variable Funding Balance equal to the excess of the outstanding Variable Funding Balance of the Variable Funding Note so surrendered over the initial Capped Funding Balances of the Capped Funding Notes.

  • The Notes; Increase of Maximum Variable Funding Balance; Variable Funding Notes.

  • Each Variable Funding Note shall be initially issued with a Variable Funding Balance of $0 or, if applicable, with a Variable Funding Balance in an amount equal to the sum of the Additional Balance Differential for the Collection Period relating to the Payment Date following the date of issuance of such Variable Funding Note pursuant to Section 4.01.

  • The Capped Funding Notes shall be issued concurrently with a reduction in the aggregate Variable Funding Balance.

  • The aggregate Variable Funding Balance of the Variable Funding Notes, including the Capped Funding Balance of the Capped Funding Notes, shall not exceed the Maximum Variable Funding Balance, and may not increase by more than $100,000 in any month unless the Indenture Trustee receives an Opinion of Counsel to the effect that such increase will not have any material adverse tax consequences to the Trust.

  • The Variable Funding Balance of any Class of Variable Funding Notes in the aggregate may not exceed the Maximum Variable Funding Balance for such Class.


More Definitions of Variable Funding Balance

Variable Funding Balance means, with respect to any Variable Funding Notes other than the Capped Funding Notes, and with respect to any Payment Date, the Aggregate Additional Balance Differential immediately prior to such Payment Date reduced by all distributions of principal on the Group I Variable Funding Notes prior to such Payment Date and with respect to the Capped Funding Notes, the Capped Funding Balance.
Sample 1
Variable Funding Balance means, with respect to any Variable Funding Note other than the Capped Funding Notes, and with respect to any Payment Date and the Variable Funding Notes, the Additional Balance Differential immediately prior to such Payment Date reduced by all distributions of principal on the Variable Funding Notes prior to such Payment Date and with respect to the Capped Funding Notes, the Capped Funding Balance.
Sample 1

Related to Variable Funding Balance

  • Servicer Prepayment Charge Payment Amount The amounts payable by the Servicer in respect of any waived Prepayment Charges pursuant to Section 2.05 or Section 3.01.

  • Master Servicer Prepayment Charge Payment Amount The amounts payable by the Master Servicer pursuant to Section 2.03(b) in respect of any waived (or, with respect to subsequent changes of law, any unenforceable) Prepayment Charges.

  • Subordinate Principal Prepayments Distribution Amount For any Distribution Date, the Subordinate Prepayment Percentage of the Principal Prepayment Amount.

  • Amortization Amount means, with respect to any Principal Amount Repayment Date, the amount set forth opposite such Date on the Amortization Schedule.

  • Amortization Payment shall have the meaning set forth in Section 2(d).

  • Interest Funding Account shall have the meaning specified in subsection 4.2(b).

  • Class A Note Initial Principal Balance means $500,000,000.

  • Amortization Payment Date shall have the meaning set forth in Section 2(d).

  • Principal Payment Amount For any Distribution Date, the sum of (i) the scheduled principal payments (if any) on the Mortgage Loans due on the related Due Date, (ii) the principal portion of proceeds received with respect to any Mortgage Loan which was purchased or repurchased pursuant to a Purchase Obligation or as permitted by this Agreement during the Prior Period and (iii) any other unscheduled payments of principal which were received with respect to any Mortgage Loan during the Prior Period, other than Payoffs, Curtailments, Liquidation Principal and Subsequent Recoveries.

  • Principal Prepayment Amount For any Distribution Date and for any Loan Group, the sum with respect to the Mortgage Loans in such Loan Group of (i) Curtailments received during the Prior Period from such Mortgage Loans and (ii) Payoffs received during the Payoff Period from such Mortgage Loans.

  • Group I Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group I Mortgage Loans.

  • Class B Note Initial Principal Balance means $30,822,000.

  • Note A-2-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-5 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-5 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-5 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class A Note Principal Balance means, on any date of determination, an amount equal to (a) the Class A Note Initial Principal Balance, minus (b) the aggregate amount of principal payments made to the Class A Noteholders on or prior to such date.

  • Class A Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class A-1 Notes, the Class A-2 Notes and the Class A-3 Notes at the respective Interest Rate for such Class on the Note Balance of the Notes of each such Class on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Noteholders of the Notes of such Class on or prior to such preceding Payment Date.

  • Note A Principal Balance means, as of any date of determination, the aggregate Note Principal Balance of the A Notes.

  • Class B Noteholders’ Monthly Accrued Interest means, with respect to any Payment Date, the aggregate interest accrued for the related Interest Period on the Class B Notes at the Class B Interest Rate on the Class B Note Balance on the immediately preceding Payment Date or the Closing Date, as the case may be, after giving effect to all payments of principal to the Class B Noteholders on or prior to such preceding Payment Date.

  • Group II Interest Remittance Amount With respect to any Distribution Date, that portion of the Available Funds for such Distribution Date attributable to interest received or advanced with respect to the Group II Mortgage Loans.

  • Note A-7 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-7 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-7 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-1-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-1 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Note A-2-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-2-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-2-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.

  • Class C Note Initial Principal Balance means $18,948,000.

  • Principal Payment Any payment of principal on a Mortgage Loan other than a Principal Prepayment.

  • Note A-1-2 Principal Balance means, with respect to the Mortgage Loan, at any time of determination, the Initial Note A-1-2 Principal Balance set forth on the Mortgage Loan Schedule, less any payments of principal thereon received by the Note A-1-2 Holder or reductions in such amount pursuant to Section 3 or 4, as applicable.