Principal Prepayments and Liquidation. Proceeds and all proceeds of any Contracts or property acquired in respect thereof repurchased pursuant to Sections 2.02, 2.04, 2.08 and 9.01 of the Agreement received during the month of distribution and all related payments of interest representing interest for the month of distribution or any portion thereof; (c) payments, other than Principal Prepayments, that represent early receipt of scheduled payments of principal and interest due on or after the first day of the month of distribution; (d) late payments of principal or interest in respect of which there are any unreimbursed Monthly Advances; (e) amounts representing reimbursement for certain losses and expenses, all as described in the Agreement; (f) that portion of each payment of interest on each Contract in excess of interest at the Pass-Through Rate set forth above on the unpaid principal balance of such Contract outstanding for the period for which such payment was received; and (g) to the extent specified in the Agreement, that portion of the Liquidation Proceeds of Contracts in excess of the unpaid principal balances thereof and unpaid interest thereon; and (ii) the Monthly Advance, if any, made by the Master Servicer for the related period. For the purposes hereof, amounts received by the Master Servicer in connection with the liquidation of Contracts through repossession, sale or otherwise shall be deemed to be payments on account of principal of Contracts.
Appears in 3 contracts
Sources: Reference Agreement (Gs Mortgage Securities Corp), Reference Agreement (Goldman Sachs Asset Backed Securities Corp), Reference Agreement (Asset Backed Securities Corp)