Common use of ALLOCATION OF CERTAIN INTEREST SHORTFALL Clause in Contracts

ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB and REMIC I Regular Interest LT-I-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-II-IO, REMIC I Regular Interest LT-II-SUB and REMIC I Regular Interest LT-II-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Certificates, the Group III Mezzanine Certificates, and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Group III Interest Distribution Amount payable to the Class III-CE Certificates, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group III Loans for any Distribution Date shall be allocated first, to REMIC III Regular Interest LT-III and REMIC III Regular Interest LT-III-P, to the extent of one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III Regular Interest; and then, to REMIC III Regular Interest LT-III-IO-1, REMIC III Regular Interest LT-III-IO-2, REMIC III Regular Interest LT-III-IO-3, REMIC III Regular Interest LT-III-IO-4 and REMIC III Regular Interest LT-III-IO-5, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mortgage Sec Inc Mort Loan Tr Ser 2004-1), Pooling and Servicing Agreement (Deutsche Mortgage Sec Inc Mort Loan Tr Ser 2004-1)

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ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB and REMIC I Regular Interest LT-I-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-II-IO, REMIC I Regular Interest LT-II-SUB and REMIC I Regular Interest LT-II-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Class A Certificates, the Group III Mezzanine Certificates, the Class A-IO Certificates and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls and Curtailment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Group III Interest Distribution Amount payable to the Class III-CE Certificates, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Class A Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated first, to REMIC III I Regular Interest LT-III LTI-1 and REMIC III I Regular Interest LT-IIILTI-P, to the extent of one month's interest at the then applicable respective Uncertificated REMIC III I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III I Regular Interest; and then, to REMIC III I Regular Interest LT-IIILTI-IO-1, REMIC III I Regular Interest LT-IIILTI-IO-2, REMIC III I Regular Interest LT-IIILTI-IO-3, REMIC III I Regular Interest LT-IIILTI-IO-4 and REMIC III I Regular Interest LT-IIILTI-IO-5, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC III I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest LTII-A1, REMIC II Regular Interest LTII-A2, REMIC II Regular Interest LTII-A3, REMIC II Regular Interest LTII-A4, REMIC II Regular Interest LTII-A5, REMIC II Regular Interest LTII-A6, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII- M2, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Deutsche Mort Sec Inc Mortgage Loan Trust Series 2004 2), Pooling and Servicing Agreement (Deutsche Mort Sec Inc Mortgage Loan Trust Series 2004 2)

ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated to the REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB and REMIC I Regular Interest LT-I-ZZZInterests, pro rata, to the extent of one month's ’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I II Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to the REMIC I II Regular Interest LT-II-IO, REMIC I Regular Interest LT-II-SUB and REMIC I Regular Interest LT-II-ZZZInterests, pro rata, to the extent of one month's ’s interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I II Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Certificates, the Group III Mezzanine Certificates, and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Group III Interest Distribution Amount payable to the Class III-CE Certificates, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group III Loans for any Distribution Date shall be allocated first, to the REMIC III Regular Interest LT-III and REMIC III Regular Interest LT-III-PInterests, pro rata, to the extent of one month's ’s interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III Regular Interest; and then, to REMIC III Regular Interest LT-III-IO-1, REMIC III Regular Interest LT-III-IO-2, REMIC III Regular Interest LT-III-IO-3, REMIC III Regular Interest LT-III-IO-4 and REMIC III Regular Interest LT-III-IO-5, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar1), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-Ar2)

ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the amount of Uncertificated Accrued Certificate Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB and REMIC I Regular Interest LT-I-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-II-IO, REMIC I Regular Interest LT-II-SUB and REMIC I Regular Interest LT-II-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Class A Certificates, the Group III Mezzanine Certificates, the Class A-IO Certificates and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls and Curtailment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall be allocated first reduce the to Net Monthly Excess Cashflow for such Distribution DateCashflow, second, reduce the Group III Interest Distribution Amount payable to the Class IIICE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-CE CertificatesThrough Rate on the Certificate Principal Balance thereof, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Class A Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated first, to REMIC III I Regular Interest LT-III LTI-1 and REMIC III I Regular Interest LT-IIILTI-P, to the extent of one month's interest at the then applicable respective Uncertificated REMIC III I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III I Regular Interest; and then, to REMIC III I Regular Interest LTLTI-IIIIO-IO-1A, REMIC III I Regular Interest LTLTI-IIIIO-IO-2B, REMIC III I Regular Interest LTLTI-IIIIO-IO-3C, REMIC III I Regular Interest LTLTI-IIIIO-IO-4 and D, REMIC III I Regular Interest LTLTI-IIIIO-IO-5E, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC III I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest LTII-A1, REMIC II Regular Interest LTII-A2, REMIC II Regular Interest LTII-A3, REMIC II Regular Interest LTII-A4, REMIC II Regular Interest LTII-A5, REMIC II Regular Interest LTII-A6, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII- M2, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Loan Trust Series 2003-2xs)

ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB and REMIC I Regular Interest LT-I-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LT-II-IO, REMIC I Regular Interest LT-II-SUB and REMIC I Regular Interest LT-II-ZZZ, pro rata, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Class A Certificates, the Group III Mezzanine Certificates, the Class A-IO Certificates and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls and Curtailment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Group III Interest Distribution Amount payable to the Class III-CE Certificates, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Class A Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated first, to REMIC III I Regular Interest LT-III LTI-1 and REMIC III I Regular Interest LT-IIILTI-P, to the extent of one month's interest at the then applicable respective Uncertificated REMIC III I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III I Regular Interest; and then, to REMIC III I Regular Interest LTLTI-IIIIO-IO-1A, REMIC III I Regular Interest LTLTI-IIIIO-IO-2B, REMIC III I Regular Interest LTLTI-IIIIO-IO-3C, REMIC III I Regular Interest LTLTI-IIIIO-IO-4 and D, REMIC III I Regular Interest LTLTI-IIIIO-IO-5E and LTI-IO-F, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC III I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest LTII-A1, REMIC II Regular Interest LTII-A2, REMIC II Regular Interest LTII-A3, REMIC II Regular Interest LTII-A4, REMIC II Regular Interest LTII-A5, REMIC II Regular Interest LTII-A6A, REMIC II Regular Interest LTII-A6B, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII-M2, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Alt a Securities Inc Mort Loan Trust Ser 2003-4xs)

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ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the Interest Distribution Amount for the Group I Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls and Curtailment Shortfalls with respect to the Group I Loans, to the extent not covered by payment by the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20, shall first reduce the related Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Interest Distribution Amount payable to the Class I-CE Certificates, third, reduce the Interest Distribution Amount payable to the Class I-M-3 Certificates, fourth, reduce the Interest Distribution Amount payable to the Class I-M-2 Certificates, fifth, reduce the Interest Distribution Amount payable to the Class I-M-1 Certificates and sixth, reduce the Interest Distribution Amount payable to the Group I Senior Certificates (on a pro rata basis based on their respective Senior Interest Distribution Amounts before such reduction), in that order and (2) any Relief Act Interest Shortfalls on the Group I Loans shall be allocated to the Group I Certificates on a pro rata basis based on their respective Interest Distribution Amount before such reduction. For purposes of calculating the Interest Distribution Amount for the Group II Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls and Curtailment Shortfalls with respect to the Group II Loans, to the extent not covered by payment by the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20, shall first reduce the related Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Interest Distribution Amount payable to the Class II-CE Certificates, third, reduce the Interest Distribution Amount payable to the Class II-MR-3 Certificates, fourth, reduce the Interest Distribution Amount payable to the Class II-MR-2 Certificates, fifth, reduce the Interest Distribution Amount payable to the Class II-MR-1 Certificates and sixth, with respect to Prepayment Interest Shortfalls and Curtailment Shortfalls on the Group II-1 Loans, reduce the Interest Distribution Amount payable to the Class II-AR-1 Certificates and with respect to Prepayment Interest Shortfalls and Curtailment Shortfalls on the Group II-2 Loans, reduce the Interest Distribution Amount payable to the Class II-AR-2 Certificates, in that order and (2) any Relief Act Interest Shortfalls on the Group II-1 Loans shall be allocated to the Class II-AR-1 Certificates and the Group II Mezzanine Certificates on a pro rata basis based on their respective Interest Distribution Amount before such reduction, and any Relief Act Interest Shortfalls on the Group II-2 Loans shall be allocated to the Group II-AR-2 Certificates and the Group II Mezzanine Certificates on a pro rata basis based on their respective Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated first, to REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB LTI-1 and REMIC I Regular Interest LTLTI-I-ZZZ, pro rataP, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest; and then, to REMIC I Regular Interest LTI-IO-1, REMIC I Regular Interest LTI-IO-2, REMIC I Regular Interest LTI-IO-3 and REMIC I Regular Interest LTI-IO-4, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Notional Amount of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I II Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to REMIC I II Regular Interest LT-II-IOLTII-1, REMIC I II Regular Interest LT-II-SUB LTII-2 and REMIC I II Regular Interest LTLTII-II-ZZZ, pro rataP, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I II Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Certificates, the Group III Mezzanine Certificates, and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Group III Interest Distribution Amount payable to the Class III-CE Certificates, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Group I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group III I Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC III Regular Interest LTLTIII-1-III AA and REMIC III Regular Interest LT-III-P, LTIII-1 ZZ up to an aggregate amount equal to the extent of one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III Regular Interest; Group I Interest Loss Allocation Amount, 98% and then2%, to respectively, and thereafter among REMIC III Regular Interest LT-III-IO-1LTIII-1A1, REMIC III Regular Interest LT-III-IO-2LTIII-1A2, REMIC III Regular Interest LT-III-IO-3LTIII-1A3, REMIC III Regular Interest LT-III-IO-4 LTIII-1A4, REMIC III Regular Interest LTIII-1A5, REMIC III Regular Interest LTIII-1A6, REMIC III Regular Interest LTIII-1A7, REMIC III Regular Interest LTIII-1M1, REMIC III Regular Interest LTIII-1M2, REMIC III Regular Interest LTIII-1M3 and REMIC III Regular Interest LT-III-IO-5LTIII-1ZZ, in each case pro rata based on, and to the extent of of, one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III Regular Interest.. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Group II Regular Interests for any Distribution Date:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Loan Trust Series 2004-3)

ALLOCATION OF CERTAIN INTEREST SHORTFALL. For purposes of calculating the Interest Distribution Amount for the Group I Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls and Curtailment Shortfalls with respect to the Group I Loans, to the extent not covered by payment by the related Servicers pursuant to the related Servicing Agreements or the Master Servicer pursuant to Section 3.20, shall first reduce the related Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Interest Distribution Amount payable to the Class I-CE Certificates, third, reduce the Interest Distribution Amount payable to the Class I-M-3 Certificates, fourth, reduce the Interest Distribution Amount payable to the Class I-M-2 Certificates, fifth, reduce the Interest Distribution Amount payable to the Class I-M-1 Certificates and sixth, reduce the Interest Distribution Amount payable to the Group I Senior Certificates (on a pro rata basis based on their respective Senior Interest Distribution Amounts before such reduction), in that order and (2) any Relief Act Interest Shortfalls on the Group I Loans shall be allocated to the Group I Certificates on a pro rata basis based on their respective Interest Distribution Amounts before such reduction. For purposes of calculating the Interest Distribution Amount for the Group II Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls and Curtailment Shortfalls with respect to the Group II Loans, to the extent not covered by payment by the related Servicers pursuant to the related Servicing Agreements or the Master Servicer pursuant to Section 3.20, shall first reduce the related Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Interest Distribution Amount payable to the Class II-CE Certificates, third, reduce the Interest Distribution Amount payable to the Class II-MR-3 Certificates, fourth, reduce the Interest Distribution Amount payable to the Class II-MR-2 Certificates, fifth, reduce the Interest Distribution Amount payable to the Class II-MR-1 Certificates and sixth, with respect to Prepayment Interest Shortfalls and Curtailment Shortfalls on the Group II-1 Loans, reduce the Interest Distribution Amount payable to the Class II-AR-1 Certificates, and with respect to Prepayment Interest Shortfalls and Curtailment Shortfalls on the Group II-2 Loans, reduce the Interest Distribution Amount payable to the Class II-AR-2 Certificates, and (2) any Relief Act Interest Shortfalls on the Group II-1 Loans shall be allocated to the Class II-AR-1 Certificates and the Group II Mezzanine Certificates on a pro rata basis based on their respective Interest Distribution Amounts before such reduction, and any Relief Act Interest Shortfalls on the Group II-2 Loans shall be allocated to the Group II-AR-2 Certificates and the Group II Mezzanine Certificates on a pro rata basis based on their respective Interest Distribution Amounts before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Prepayment Interest Shortfalls incurred in and Curtailment Shortfalls with respect of to the Group I Loans for any Distribution Date Loans, to the extent not covered by payment by the related Servicers pursuant to the related Servicing Agreements or the Master Servicer pursuant to Section 3.20, shall be allocated first, to REMIC I Regular Interest LT-I-IO, REMIC I Regular Interest LT-I-SUB LTI-1 and REMIC I Regular Interest LTLTI-I-ZZZ, pro rataP, to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date; and then, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Group II Loans for any Distribution Date shall be allocated to REMIC I Regular Interest LTLTI-II-IOIO-1, REMIC I Regular Interest LTLTI-IIIO-2, REMIC I Regular Interest LTI-SUB IO-3, REMIC I Regular Interest LTI-IO-4, REMIC I Regular Interest LTI-IO-5, REMIC I Regular Interest LTI-IO-6, REMIC I Regular Interest LTI-IO-7 and REMIC I Regular Interest LTLTI-II-ZZZIO-8, pro rata, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance Notional Amount of each such REMIC I Regular Interest. For purposes of calculating the Group III Interest Distribution Amount for the Group III Senior Certificates, the Group III Mezzanine Certificates, and the Class III-CE Certificates for any Distribution Date, (1) the aggregate amount of any Group III Prepayment Interest Shortfalls to the extent not covered by payment by the Servicers pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Group III Interest Distribution Amount payable to the Class III-CE Certificates, third, reduce the Group III Interest Distribution Amount payable to the Class III-M-3 Certificates, fourth, reduce the Group III Interest Distribution Amount payable to the Class III-M-2 Certificates, fifth, reduce the Group III Interest Distribution Amount payable to the Class III-M-1 Certificates and sixth, reduce the Group III Interest Distribution Amount payable to the Group III Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Group III Realized Losses allocated to the Group III Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group III Senior Certificates, other than the Class III-A-IO Certificates, and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class III-CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date, any Group III Relief Act Interest Shortfalls shall be allocated to the Certificates on a pro rata basis based on their respective Group III Interest Distribution Amount before such reduction. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III II Regular Interests for any Distribution Date, the aggregate amount of any Unpaid Prepayment Interest Shortfalls incurred in and Curtailment Shortfalls with respect of to the Group III Loans for any Distribution Date II Loans, to the extent not covered by payment by the related Servicers pursuant to the related Servicing Agreements or the Master Servicer pursuant to Section 3.20, shall be allocated first, to REMIC III II Regular Interest LT-III LTII-1, REMIC II Regular Interest LTII-2 and REMIC III II Regular Interest LT-IIILTII-P, to the extent of one month's interest at the then applicable respective Uncertificated REMIC III II Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC III II Regular Interest; . For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Group I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls and thenCurtailment Shortfalls with respect to the Group I Loans, to the extent not covered by payment by the related Servicers pursuant to the related Servicing Agreements or the Master Servicer pursuant to Section 3.20, shall be allocated first, to Uncertificated Accrued Interest payable to REMIC III Regular Interest LTLTIII-1-III-IO-1AA and REMIC III Regular Interest LTIII-1 ZZ up to an aggregate amount equal to the REMIC III Group I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC III Regular Interest LTIII-1A1, REMIC III Regular Interest LT-III-IO-2LTIII-1A2, REMIC III Regular Interest LT-III-IO-3LTIII-1A3, REMIC III Regular Interest LT-III-IO-4 LTIII-1A4, REMIC III Regular Interest LTIII-1A5, REMIC III Regular Interest LTIII-1A6, REMIC III Regular Interest LTIII-1M1, REMIC III Regular Interest LTIII-1M2, REMIC III Regular Interest LTIII-1M3 and REMIC III Regular Interest LT-III-IO-5LTIII-1ZZ, in each case pro rata based on, and to the extent of of, one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III Regular Interest.. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Group II Regular Interests for any Distribution Date:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc Mortgage Loan Trust 2004-4)

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