Basis Limit Amount definition

Basis Limit Amount. With respect to any Converted Loan purchased from a REMIC, an amount equal to the REMIC's adjusted federal income tax basis in such Converted Loan as of the date on which the purchase occurs as set forth in a certificate of an Officer of the Servicer, which certificate shall be delivered to the Trustee in connection with any purchase of a Converted Loan from a REMIC.
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Basis Limit Amount. With respect to a Mortgage Asset purchased from a REMIC, an amount equal to the REMIC's adjusted federal income tax basis in such Mortgage Asset as of the date on which the purchase occurs as set forth in a certificate of an Officer of the Master Servicer, which certificate shall be delivered to the Trustee in connection with any purchase of a Mortgage Asset.
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Examples of Basis Limit Amount in a sentence

  • The Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.06 and shall certify such amounts to the Trustee at the time of any such purchase.

  • The Master Servicer shall be responsible for determining the Purchase Price of any Mortgage Loan for purposes of this Section 2.03 and, where appropriate, the Basis Limit Amount for any Converted Mortgage Loan that is sold by the Trust, and shall at the time of any purchase or escrow of funds pursuant to this Section 2.03 certify such amounts to the Trustee.

  • The Master Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.05 and shall certify such amounts to the Trustee at the time of any such purchase.

  • The Master Servicer will be ------------------------------- responsible for determining the Purchase Price for any Mortgage Asset and, where appropriate, the Basis Limit Amount for any Converted Mortgage Asset that is sold by the Trust or with respect to which provision is made for the escrow of funds pursuant to this Section 2.03 and shall at the time of any purchase or escrow certify such amounts to the Trustee.

  • The Master Servicer will be responsible for determining the Repurchase Price for any Asset (and the related Basis Limit Amount for any Converted Loan) to be repurchased pursuant to this Section 2.05 and shall certify in writing such amounts to the Trustee at the time of any such purchase.

Related to Basis Limit Amount

  • Maximum Benefit Amount means the maximum amount payable for coverage provided to You as shown in the Schedule of Benefits.

  • Maximum Contribution Amount shall equal the excess of (i) the aggregate proceeds received by such Holder pursuant to the sale of such Registrable Notes or Exchange Notes over (ii) the aggregate amount of damages that such Holder has otherwise been required to pay by reason of such untrue or alleged untrue statement or omission or alleged omission. No person guilty of fraudulent misrepresentation (within the meaning of Section 11(f) of the Securities Act) shall be entitled to contribution from any Person who was not guilty of such fraudulent misrepresentation. The Holders’ obligations to contribute pursuant to this Section 8(d) are several in proportion to the respective principal amount of the Registrable Securities held by each Holder hereunder and not joint. The Company’s and Subsidiary Guarantors’ obligations to contribute pursuant to this Section 8(d) are joint and several. The indemnity and contribution agreements contained in this Section 8 are in addition to any liability that the Indemnifying Parties may have to the Indemnified Parties.

  • Tax Limitation Amount means the maximum amount which may be placed as the Appraised Value on the Applicant’s Qualified Property for maintenance and operations tax assessment in each Tax Year of the Tax Limitation Period of this Agreement pursuant to Section 313.054 of the TEXAS TAX CODE.

  • Broken Amount means, in respect of any Interest Payment Date, the amount specified in the relevant Final Terms.

  • Floating Allocation Percentage means, with respect to any Monthly Period, the percentage equivalent (which percentage shall never exceed 100%) of a fraction, the numerator of which is the Invested Amount as of the last day of the preceding Monthly Period (or with respect to the first Monthly Period, the Initial Invested Amount) and the denominator of which is the greater of (1) the sum of (x) the total amount of Principal Receivables in the Trust at the end of the day on such date (or with respect to the first Monthly Period, at the end of the day on the Closing Date) and (y) the principal amount on deposit in the Excess Funding Account as of the end of the day on such date and (2) the sum of the numerators used to calculate the Series Percentages (as such term is defined in the Agreement) with respect to Finance Charge Receivables or Defaulted Receivables, as applicable, for all Series then outstanding; provided, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer need not make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be the Average Principal Balance; provided further, however, that with respect to any Monthly Period in which an Addition Date occurs and the Servicer is required to make daily deposits of Collections into the Collection Account, the denominator in (x) above shall be (1) for the period from and including the first day of such Monthly Period to but excluding the related Addition Date, the aggregate amount of Principal Receivables in the Trust at the end of the day on the last day of the prior Monthly Period and (2) for the period from and including the related Addition Date to and including the last day of such Monthly Period, the aggregate amount of Principal Receivables in the Trust at the end of the day on the related Addition Date.