Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (Citigroup Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (New Century Mortgage Securities LLC), Pooling and Servicing Agreement (New Century Mortgage Securities Inc)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Asset Backed Floating Rate Certificates Series 1998-Opt2), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Cert Series 1998-Opt1), Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1998-Nc6)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments Compensating Interest Payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest, and then, to REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%pro rata, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate REMIC II Remittance Rates on the respective Uncertificated Balance Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-He2), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-He4), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Am3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first, to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA 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 of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificatethe Class CE Certificates. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I Regular Interest I-LT1 LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Fre1), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Opt1), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Nc3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Senior Certificates, Mezzanine Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first reduce the Interest Distribution Amount payable to the Class CE M-3 Certificates, second, reduce the Interest Distribution Amount payable to the Class M-2 Certificates, third, reduce the Interest Distribution Amount payable to the Class M-1 Certificates and fourth, reduce the Interest Distribution Amount payable to the Senior 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA 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 (32) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Senior Certificates (other than the Class A-IO Certificates) and the Mezzanine Certificates incurred for any Distribution Date shall be allocated among to the Class CE C 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 respective Notional Amount of each such CertificateCertificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to REMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, to the extent of one month's interest at the then applicable respective Uncertificated Interest payable REMIC I Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC I Regular Interest; and then, to REMIC I Regular Interest ILTI-LT1 IO-A, REMIC I Regular Interest LTI-IO-B, REMIC I Regular Interest LTI-IO-C, REMIC I Regular Interest LTI-IO-D, REMIC I Regular Interest LTI-IO-E, REMIC I Regular Interest LTI-IO-F, REMIC I Regular Interest LTI-IO-G and REMIC I Regular Interest ILTI-LT9 up to an aggregate amount equal IO-H, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest Ifor the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular Interest LTII-LT1AA, REMIC I II Regular Interest ILTII-LT2A1, REMIC I II Regular Interest ILTII-LT3A2, REMIC I II Regular Interest ILTII-LT4A3, REMIC I II Regular Interest ILTII-LT5A4, REMIC I II Regular Interest ILTII-LT6A5A, REMIC I II Regular Interest ILTII-LT7A5B, REMIC I II Regular Interest ILTII-LT8 A6, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII-M2, REMIC II Regular Interest LTII-M3 and REMIC I II Regular Interest ILTII-LT9 PRO RATA 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 I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2004 - AP3), Pooling and Servicing Agreement (Nomura Home Equity Loan, Inc.)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.246.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis C Interest based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate otherwise distributable thereto and, thereafter, among the Class A Certificates A, Class M and Class B Certificates, in each case on a PRO RATA basis pro rata basis, based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P) for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.246.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest I-LT1 AA and REMIC I Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1AA, each REMIC I Regular Interest I-LT2, (other than REMIC I Regular Interest I-LT3, P) for which a REMIC I II Regular Interest I-LT4, REMIC I Regular is the Corresponding Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I Regular Interest. All Prepayment For purposes of calculating the amount of Uncertificated Accrued Interest Shortfalls and Relief Act Interest Shortfalls on for the REMIC II Regular Interests (other than REMIC II Regular Interest P) for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company pursuant to the Pooling and Servicicing Agreement, the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 6.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the such REMIC II Regular Interests in the proportion same manner and priority as such amounts are allocable to the Corresponding Certificates and, in the case of REMIC II Regular Interest C, to the Class C Interest; provided, however, that Prepayment Interest Shortfalls solely for purposes of allocating such shortfalls to such REMIC II Regular Interests, any such shortfalls allocable to the Class A-2 Certificates and Relief Act Interest Shortfalls are Class A-3 Certificates shall be deemed to be allocated to the related Uncertificated Corresponding ComponentClass A-1 Certificates.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-Ac4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Floating Rate Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Floating Rate Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts shall be allocated among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to REMIC 1 Regular Interest I and to the REMIC 1 Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest, and then, to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I 2 Regular Interest I-LT1 LTAA, REMIC 2 Regular Interest LTA1, REMIC 2 Regular Interest LTA2, REMIC 2 Regular Interest LTA3, REMIC 2 Regular Interest LTA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10 and REMIC I 2 Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Ns1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2006-Eq2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT7 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-I- LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT6 and REMIC I Regular Interest I-LT9 LT7 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (New Century Mortgage Securities LLC), Pooling and Servicing Agreement (Long Beach Securities Corp), Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rte Cert Se 1999-Aq2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates C Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated firstfirst to the Class C Interest to the extent of one month’s interest at the then applicable Pass‑Through Rate on the Notional Amount of such Regular Interest, and then among the Class CE A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Pass‑Through Rate on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __:
(a) 50% and __%, respectively and (2) the aggregate amount of any Net Prepayment Interest and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 AA and REMIC I Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I 2 Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest IAA, A-LT1IA, REMIC I Regular Interest IA-LT2IIA1, REMIC I Regular Interest IA-LT3IIA2, REMIC I Regular Interest IA-LT4IIA3, REMIC I Regular Interest IA-LT5IIA4, REMIC I Regular Interest I-LT6M1, REMIC I Regular Interest I-LT7M2, REMIC I Regular Interest I-LT8 M3, M4, M5, M6, M7, M8, M9, M10, M11 and REMIC I Regular Interest I-LT9 PRO RATA ZZ, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest; and
(b) 50% of any Net Prepayment Interest and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to REMIC 2 Regular Interest 1GRP, 2GRP, 1SUB, 2SUB, and XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 3 Regular Interest. All For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Group I Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the to REMIC II 1 Regular Interests in IX and the proportion that aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated to the related Uncertificated Corresponding ComponentREMIC 1 Regular Interest IIX.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-8), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-6), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-7)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Loan Group I shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and to the REMIC I Group I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest I-LT9 up , and then, to an REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount equal of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest Loss , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Amount, __% Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and __%, respectively and (2) the REMIC II Marker Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTA5, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA on a pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All ; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LT1SUB, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTXX, on a pro rata basis based on, and to the related extent of, one month’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc3), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Fre2), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Nc2)
Allocation of Certain Interest Shortfalls. For purposes (a) On any Distribution Date, the excess, if any, of calculating (X) the aggregate amounts required to be paid by the Servicers under the Servicing Agreements with respect to subclause (a) of the definition of Prepayment Interest Shortfall with respect to the Mortgage Loans for the related Distribution Date, and not so paid by the related Servicers over (Y) the Compensating Interest Payment actually paid into the Master Servicer Collection Account pursuant to Section 6.06 for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of Accrued Certificate interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest and Shortfall.
(b) On any Distribution Date, the amount interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated to the Interest Distribution Amounts for Class of Subordinate Certificates then outstanding having the highest numerical class designation or, if no Class of Subordinate Certificates is then outstanding, to the Class A Certificates and (other than the Class CE PO Certificates) pro rata among the outstanding Classes of Class A Certificates for any Distribution Date, (1other than the Class PO Certificates) based on the aggregate amount of any Prepayment Interest Shortfalls (interest to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any which each such Class would otherwise be entitled on such Distribution Date had there been no such Realized Loss Interest Shortfall.
(c) Any interest shortfall resulting from the Relief Act or any similar state legislation, as amended shall be allocated pro rata among the Class CE outstanding Classes of 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating upon the amount of Uncertificated Interest for the REMIC I Regular Interests for any interest to which each such Class would otherwise be paid on such Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2006-Af1), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-F1), Pooling and Servicing Agreement (Merrill Lynch Alternative Note Asset Trust, Series 2007-F1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer under the related Servicing Agreement or by the Master Servicer pursuant to Section 3.24) 3.20 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-4 Certificates, Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the 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 Realized Losses allocated to the Mezzanine Certificates and Basis Risk Shortfall amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificatethereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.243.20) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, allocated to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTA, based on, and to the extent of, one month's interest at the then applicable REMIC I Remittance Rate on the Uncertificated Balance of REMIC I Regular Interest I-LT9 up to an aggregate LTA. For purposes of calculating the amount equal to of Uncertificated Interest for the REMIC I Interest Loss Allocation AmountII Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, [______]% and [______]%, respectively, and thereafter among REMIC I II Regular Interest III-LT1LTAA, REMIC I II Regular Interest III-LT2LTA, REMIC I II Regular Interest III-LT3LTM1, REMIC I II Regular Interest III-LT4LTM2, REMIC I II Regular Interest III-LT5LTM3, REMIC I II Regular Interest III-LT6LTM4, REMIC I II Regular Interest ILT-LT7, IO and REMIC I II Regular Interest III-LT8 and REMIC I Regular Interest I-LT9 LTZZ, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp), Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the GMACM Servicing Agreement, the Company or the Master Servicer pursuant to Section 3.246.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof, and thereafter, among the Class CE Certificates A, Class M and Class B Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the GMACM Servicing Agreement, the Company or the Master Servicer pursuant to Section 3.246.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans Loan Group I for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Group I Regular Interest IInterests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest I-LT9 up to an aggregate amount equal to for the REMIC I Interest Loss Allocation AmountGroup II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to the GMACM Servicing Agreement, the Company or the Master Servicer pursuant to Section 6.02) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II for any Distribution Date shall be allocated first, to REMIC I Group II Regular Interests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests (other than REMIC II Regular Interest IO) for any Distribution Date, (i) the REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 6.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter thereafter, among REMIC I II Regular Interest I-LT1AA, each REMIC I II Regular Interest I-LT2for which a Class A, Class M or Class B Certificate is the Corresponding Certificate and REMIC I II Regular Interest I-LT3ZZ, REMIC I Regular Interest I-LT4pro rata, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All , and (ii) the REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to the GMACM Servicing Agreement, the Company or the Master Servicer pursuant to Section 6.02) and any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest 1-Sub, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls 1-Grp, REMIC II Regular Interest 2-Sub, REMIC II Regular Interest 2-Grp and Relief Act REMIC II Regular Interest Shortfalls are allocated XX, pro rata, based on, and to the related extent of, one month’s interest at the then applicable respective Uncertificated Corresponding ComponentREMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement, Pooling and Servicing Agreement (SACO I Trust 2007-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the related Mortgage Loans for any Distribution Date shall be allocated first, to the related CE Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof, and to the Class I-R-3 Certificates based on the amounts with respect to the related Loan Group otherwise distributable thereto, and thereafter, among the related Class CE A Certificates and Class M Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P) for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of Loan Group I shall be allocated first, to the Mortgage Loans Class I-R-1 Certificates based on the amounts otherwise distributable thereto, second, to REMIC I Regular Interests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and third, to REMIC I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Group I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of Subgroup II-1 shall be allocated first, to the Class II-R-1 Certificates based on the amounts otherwise distributable thereto, second, to REMIC II Group I Regular Interests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Group I Regular Interest, and third, to REMIC II Group I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Group I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of Subgroup II-2 shall be allocated first, to the Class II-R-1 Certificates based on the amounts otherwise distributable thereto, second, to REMIC II Group II Regular Interests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Group II Regular Interest, and third, to REMIC II Group II Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Group 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 (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of Loan Group I for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I III Regular Interest I-LT1 AA and REMIC I III Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC III Group I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter to amounts with respect to Loan Group I otherwise distributable to the Class I-R-2 Certificates, and thereafter, among REMIC I III Regular Interest I-LT1AA, each REMIC III Group I Regular Interest for which a Class I-A Certificate or Class I-M Certificate is a Corresponding Certificate and REMIC III Regular Interest I-LT2ZZ, REMIC I Regular Interest I-LT3pro rata, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC III Group I Regular Interest. All For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Group II Regular Interests for any Distribution Date, (i) the REMIC III Group II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls on the REMIC incurred in respect of Loan Group II Regular Interests for such Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among first, to Uncertificated Accrued Interest payable to REMIC III Regular Interest II-AA and REMIC III Regular Interest II-ZZ up to an aggregate amount equal to the REMIC III Group II Interest Loss Allocation Amount, 98% and 2%, respectively, and to amounts with respect to Loan Group II otherwise distributable to the Class I-R-2 Certificates, and thereafter, among REMIC III Regular Interest II-AA, each REMIC III Group II Regular Interests in Interest for which a Class II-A Certificate or Class II-M Certificate is the proportion that Corresponding Certificate and REMIC III Regular Interest II-ZZ, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC III Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC III Group II Regular Interest, and (ii) the REMIC III Group II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls are incurred in respect of Loan Group II for such Distribution Date shall be allocated first, to amounts with respect to Loan Group II otherwise distributable to the related Class I-R-2 Certificates, and thereafter, among REMIC III Regular Interest II-1-Sub, REMIC III Regular Interest II-1-Grp, REMIC III Regular Interest II-2-Sub, REMIC III Regular Interest II-2-Grp and REMIC III Regular Interest II-XX, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated Corresponding ComponentREMIC III Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC III Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He7), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He7), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He7)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest, and then, to REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%pro rata, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate REMIC II Remittance Rates on the respective Uncertificated Balance Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Notional Amount of the Class CE Certificates and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificatethe Class CE Certificates. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I Regular Interest I-LT1 LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-Rfc1), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-Fre1), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Rfc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates, the Class M Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Class CE A Certificates and Class M Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date:
(a) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest IInterests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up Interest, and then, to an aggregate amount equal REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Interest Loss Allocation Amount, __% and __%, respectively and Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
(2b) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1A-1, REMIC I II Regular Interest I-LT2A-2, REMIC I II Regular Interest I-LT3A-3, REMIC I II Regular Interest I-LT4M-1, REMIC I II Regular Interest I-LT5M-2, REMIC I II Regular Interest I-LT6M-3, REMIC I II Regular Interest I-LT7M-4, REMIC I II Regular Interest I-LT8 M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8 and REMIC I II Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc2), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Tc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-I- LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Floating Rate Mort Pass Through Cert Series 2000-1), Pooling and Servicing Agreement (Floating Rate Mort Pass Through Cert Series 2000-1), Pooling and Servicing Agreement (Salomon Brothers Mor Sec Vii Fl Rt MR Pa Th Cer Ser 2000 Lb1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Interest Distribution Amount for the Class CE Certificates L3-C Regular Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated firstfirst to the Class L3-C Regular Interest to the extent of one month’s interest at the then applicable Certificate Interest Rate on the Notional Amount of such Regular Interest, and then among the Class CE A Certificates, the Class B Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Interest Rate on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of Interest Distribution Amounts for the REMIC I II Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __:
(a) 50% and __%, respectively and (2) the aggregate amount of any Net Prepayment Interest and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I the Class L2-XX and L2-ZZ Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 Interests up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I the Class L2-XX, L2-1-A1, L2-2-A1, L2-2-A2, L2-2-A3, L2-M1, L2-M2, L2-M3, L2-M4, L2-M5, L2-M6, L2-M7, L2-M8, L2-M9, L2-B1, L2-B2, and L2-ZZ Regular Interest I-LT1Interests, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective PassCertificate Interest Rate on the respective Class Principal Balance of each such Regular Interest; and
(b) 50% of any Net Prepayment Interest and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to the Class L2-Through 1-GP, L2-2-GP, L2-1-SB, L2-2-SB, and L2-YY, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Certificate Interest Rate on the respective Uncertificated Principal Balance of each such Regular Interest. For purposes of calculating the Interest Distribution Amounts for the REMIC I Regular Interest. All Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Group I Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the to REMIC II I Regular Interests in L1-Y-X and the proportion that aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated to the related Uncertificated Corresponding Component.REMIC I Regular Interest L1-2-X.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2007-He1), Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LT1, REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT3, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1II- LTA1, REMIC I II Regular Interest III-LT2LTA2, REMIC I II Regular Interest III-LT3LTM1, REMIC I II Regular Interest III-LT4LTM2, REMIC I II Regular Interest III-LT5LTM3, REMIC I II Regular Interest III-LT6, LTM4 and REMIC I II Regular Interest III-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1), Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset BCKD Ps THR Cert Ser 2002-Ar1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Ast Bk Fl Rte Cer Se 1997-Aq2), Pooling and Servicing Agreement (Salomon Bros Mort Sec Viiinc Ast Bk Fl Rte Cer Se 1997-Lb5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Certificates and the Class CE Certificates REMIC 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24net of any Compensating Interest Payment) and any Relief Act Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA basis based onfirst to REMIC 1 Regular Interests LTI-1 and LTI-PF and then to REMIC 1 Regular Interests LTI-P and LTI-R, and in each case to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Uncertificated Principal Balance of each such Certificate and (3) REMIC 1 Regular Interest; provided, however, that with respect to the aggregate amount of any Realized Losses incurred for any first three Distribution Date Dates, such amounts relating to the Initial Mortgage Loans shall be allocated among the Class CE Certificates on a PRO RATA basis based on, to REMIC 1 Regular Interest LTI-1 and such amounts relating to the extent of, one month's interest at the then applicable respective PassSubsequent Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT-Through Rate on the respective Notional Amount of each such CertificatePF. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant Compensating Interest) relating to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to in the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based onsame priority, and to the extent ofsame extent, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion as that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding ComponentCertificates.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CSFB Home Equity Mortgage Trust 2005-4), Pooling and Servicing Agreement (CSFB Home Equity Mortgage Trust 2005-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class CE Certificates, based on, and to the extent of, one month's interest at the applicable Pass-Through Rate on the Notional Amount of such Certificates, and thereafter, among the Class CE A Certificates and the Mezzanine 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 Rates on the respective Notional Amount Certificate Principal Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group I shall be allocated first, to REMIC I Group I Regular Interests ending with the designation "B", PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group I Regular Interests ending with the designation "A", PRO rata based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Group II Regular Interests ending with the designation "B", PRO rata based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest, and then, to REMIC I Group II Regular Interests ending with the designation "A", PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group III Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group III shall be allocated first, to REMIC I Group III Regular Interests ending with the designation "B", PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest, and then, to REMIC I Group III Regular Interests ending with the designation "A", PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(i) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated firstamong REMIC II Regular Interest II-LTA1A, among the Class CE Certificates II Regular Interest II-LTA1B, REMIC II Regular Interest II-LTA2A, REMIC II Regular Interest II-LTA2B, REMIC II Regular Interest II-LTA3A, REMIC II Regular Interest II-LTA3B, REMIC II Regular Interest II-LTA3C, REMIC II Regular Interest II-LTA3D, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10 and REMIC II Regular Interest II-LTZZ, on a PRO RATA basis basis, based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate REMIC II Remittance Rates on the respective Notional Amount Uncertificated Balances of each such Certificate REMIC II Regular Interest; and, thereafter, among the Class A 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 respective Certificate Principal Balance
(ii) The REMIC II Sub WAC Allocation Percentage of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss II Sub WAC Allocation Amount, __% and __%, respectively and (2) the aggregate amount Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LT1SUB, REMIC II Regular Interest II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP, REMIC II Regular Interest II-LT3SUB, REMIC II Regular Interest II-LT3GRP and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTXX, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 on a PRO RATA basis, based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate REMIC II Remittance Rates on the respective Uncertificated Balance Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc. Series 2005-R3), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc. Series 2005-R3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Loan Group I shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC Group I Regular Interest I-LT1Interests ending with the designation “B”, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate REMIC I Remittance Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. All For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests shall be allocated by the Trust Administrator on each for any Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.Date:
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ff7), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust, Series 2005-Ff7)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer under the related Servicing Agreement or by the Master Servicer pursuant to Section 3.24) 3.20 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first, to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate thereof and, thereafter, among the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates Certificates, in that order, in each case on a PRO RATA 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 (32) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Basis Risk Shortfall amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificatethereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.243.20) and any Relief Act Interest Shortfalls incurred (i) in respect of the Mortgage Loans with an Expense Adjusted Mortgage Rate as of the Cut- off Date of less than 6.00% for any Distribution Date shall be allocatedallocated to REMIC I Regular Interest I-LTB and (ii) in respect of the Mortgage Loans with an Expense Adjusted Mortgage Rate as of the Cut-off Date of 6.00% or greater for any Distribution Date shall be allocated to first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and LTA, second, to REMIC I Regular Interest I-LT9 up LTE, third, to an aggregate amount equal REMIC I Regular Interest I-LTD and fourth, to REMIC I Regular Interest I-LTC, based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.20) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest III-LT1LTAA, REMIC I II Regular Interest III-LT2LTA, REMIC I II Regular Interest III-LT3LTM1, REMIC I II Regular Interest III-LT4LTM2, REMIC I II Regular Interest III-LT5LTM3, REMIC I II Regular Interest ILT-LT6, IO and REMIC I II Regular Interest III-LT7LTZZ, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (Ace Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-I- LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Fl Rte Pas THR Ce Se 1999 Nc3), Pooling and Servicing Agreement (Salomon Broth Mo Se Vii Inc Fl Rt Mor Pa Th Cer Ser 1999 Nc2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA 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 of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT7 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-I- LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT6 and REMIC I Regular Interest I-LT9 LT7 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Boardwalk Mortgage Securities Inc.), Pooling and Servicing Agreement (Park Place Securities, Inc.)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A [____] Certificates, the [____________] Certificates, the Class [____] Certificates and the Class CE [____] Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect 3.21 of this Agreement or by the Mortgage Loans for any Distribution Date shall be allocated among Master Servicer pursuant to Section 4.18 of this Agreement or by the Class CE Certificates on a PRO RATA basis based on, and Interim Servicer pursuant to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate, (2Interim Servicing Agreement) the aggregate amount of and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates [____] Certificates, second, to the Class [____] Certificates, on a PRO RATA basis pro rata basis, in each case based on, and to the extent of, one [__] month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's ’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 (32) the aggregate amount of any Realized Losses allocated to the Class [____] Certificates, the [____________] Certificates and Net WAC Rate Carryover Amounts paid to the Class [____] Certificates, the [____________] Certificates and the Class [____] Certificates incurred for any Distribution Date shall be allocated among to the Class CE [____] Certificates on a PRO RATA pro rata basis based on, and to the extent of, one [__] month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount of each such Certificatethereof, as applicable. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.243.22 of this Agreement or the Master Servicer pursuant to Section 4.18 or by the Interim Servicer pursuant to the Interim Servicing Agreement) and any Relief Act Interest Shortfalls incurred in respect of Group I Mortgage Loans shall be allocated first, to REMIC I Regular Interest [__] and to the REMIC I Group I Regular Interests ending with the designation “[____]”, pro rata based on, and to the extent of, [__] month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group I Regular Interests ending with the designation “[____]”, pro rata based on, and to the extent of, [__] month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 of this Agreement or the Master Servicer pursuant to Section 4.18 or by the Interim Servicer pursuant to the Interim Servicing Agreement) and any Relief Act Interest Shortfalls incurred in respect of Group II Mortgage Loans shall be allocated first, to REMIC I Regular Interest [__] and to the REMIC I Group II Regular Interests ending with the designation “[____]”, pro rata based on, and to the extent of, [__] month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group II Regular Interests ending with the designation “[____]”, pro rata based on, and to the extent of, [__] month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 of this Agreement or the Master Servicer pursuant to Section 4.18 or by the Interim Servicer pursuant to the Interim Servicing Agreement) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to allocated among REMIC I II Regular Interest I-LT1 and [____], REMIC I II Regular Interest I-LT9 up to an aggregate amount equal [____],pro rata based on, and to the extent of, [ ] month’s interest at the then applicable respective REMIC I Interest Loss II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest; and
(B) The REMIC II Sub WAC Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 of this Agreement or by the Master Servicer pursuant to Section 4.18 of this Agreement or by the Interim Servicer pursuant to the Interim Servicing Agreement) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, [___% and _], REMIC II Regular Interest [__%__] , respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA pro rata based on, and to the extent of, one [ ] month's ’s interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ace Securities Corp), Pooling and Servicing Agreement (Ace Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Floating Rate Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Floating Rate Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts shall be allocated among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to REMIC 1 Regular Interest I and to the REMIC 1 Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest, and then, to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I 2 Regular Interest I-LT1 LTAA, REMIC 2 Regular Interest LTIA1, REMIC 2 Regular Interest LTIIA1, REMIC 2 Regular Interest LTIIA2, REMIC 2 Regular Interest LTIIA3, REMIC 2 Regular Interest LTIIA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10 and REMIC I 2 Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All For the purpose of calculating the amount of Uncertificated Accrued Interest for the Class C Interest for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls on allocated to the REMIC II Regular Interests Class C Certificates shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding ComponentClass C Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt2), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-Opt3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Class CE A Certificates and Class M Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date:
(a) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 Non-Swap and the REMIC I Regular Interest IInterests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT9 up to an aggregate amount equal Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to the REMIC I Interest Loss Allocation AmountRegular Interests ending with the designation “A”, __% pro rata, based on, and __%to the extent of, respectively and one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
(2b) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1AA, each REMIC I II Regular Interest I-LT2, for which a Class A Certificate or Class M Certificate is the Corresponding Certificate and REMIC I II Regular Interest I-LT3ZZ, REMIC I Regular Interest I-LT4pro rata, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC Trust 2006-Ec1), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC Trust 2006-Ec1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof, and to the Class R-3 Certificates based on the amounts otherwise distributable thereto, and, thereafter, among the Class CE Certificates A, Class M and Class B Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable the Class R-1 Certificates based on the amounts otherwise distributable thereto, second, to REMIC I Regular Interest IInterests ending with the designation “B”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up Interest, and third, to an aggregate amount equal REMIC I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and to amounts otherwise distributable to the Class R-2 Certificates, and thereafter among REMIC I II Regular Interest I-LT1AA, each REMIC I II Regular Interest I-LT2for which a Class A, Class M or Class B Certificate is the Corresponding Certificate and REMIC I II Regular Interest I-LT3ZZ, REMIC I Regular Interest I-LT4pro rata, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl1), Pooling and Servicing Agreement (Bear Stearns Mortgage Funding Trust 2006-Sl2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates CE-1 Interest for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and CE-1 Interest to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate the Class CE-1 Interest and, thereafter, among the Class A Offered 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE Certificates Interest based on, and to the extent of, one month's interest at the then applicable Pass-Through Rate on the Notional Amount of such Interest. All such shortfalls allocated to the Class CE-1 Interest shall be allocated to the Class CE-1 Certificates. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group I shall be allocated first, to REMIC I Regular Interest I and to the REMIC I Group I Regular Interests ending with the designation "B", PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group I Regular Interests ending with the designation "A", pro rata based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation "B", PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group II Regular Interests ending with the designation "A", pro rata based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2a, REMIC I Regular Interest I-LTA2b, REMIC I Regular Interest I-LTA2c, REMIC I Regular Interest I-LTA2d, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10 and REMIC I Regular Interest I-LTZZ, on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Notional Amount Uncertificated Balance of each such Certificate. For purposes REMIC II Regular Interest; and
(B) The REMIC II Sub WAC Allocation Percentage of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss II Sub WAC Allocation Amount, __% and __%, respectively and (2) the aggregate amount Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LT1SUB, REMIC II Regular Interest II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTXX, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (New Century Mortgage Securities Inc), Pooling and Servicing Agreement (New Century Mortgage Securities LLC)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates I-A, Class I-M, Class I-B and the Class CE I-C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Group I Loans for any Distribution Date shall be allocated first, to the Class I-C Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Class CE Certificates I-A, Class I-M and Class I-B Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, :
(1a) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Group I Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest IInterests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to Uncertificated Accrued Interest Ipayable to REMIC I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT9 Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
(b) The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Group I Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II Regular Interest AA and REMIC II Regular Interest ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, __98% and __2%, respectively respectively, and (2) thereafter among REMIC II Regular Interest I-A-1, REMIC II Regular Interest I-M-1, REMIC II Regular Interest I-M-2, REMIC II Regular Interest I-M-3, REMIC II Regular Interest I-M-4, REMIC II Regular Interest I-M-5, REMIC II Regular Interest I-B-1, REMIC II Regular Interest I-B-2, REMIC II Regular Interest I-B-3, REMIC II Regular Interest I-B-4 and REMIC II Regular Interest ZZ, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest. For purposes of calculating the amount of Current Interest for the Class II-A, Class II-M, Class II-B and Class II-E Certificates for any Distribution Date, the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans Group II HELOCs for any Distribution Date shall be allocated first, to the Class II-E Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class II-A, Class II-M and Class II-B Certificates, 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 Rates on the respective Certificate Principal Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IV Regular Interests for any Distribution Date:
(a) The aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Group II HELOCs for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I IV Regular Interest I-LT1 AA and REMIC I IV Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I IV Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I IV Regular Interest III-LT1A, REMIC I IV Regular Interest III-LT2M-1, REMIC I IV Regular Interest III-LT3M-2, REMIC I IV Regular Interest III-LT4M-3, REMIC I IV Regular Interest III-LT5M-4, REMIC I IV Regular Interest III-LT6M-5, REMIC I IV Regular Interest III-LT7M-6, REMIC I IV Regular Interest III-LT8 M-7, REMIC IV Regular Interest II-M-8, REMIC IV Regular Interest II-M-9, REMIC IV Regular Interest II-B-1, REMIC IV Regular Interest II-B-2 and REMIC I II Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC IV Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I IV Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage Pass-Through Certificates, Series 2005-5), Pooling and Servicing Agreement (Saco I Trust 2005-5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest, and then, to REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%pro rata, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate REMIC II Remittance Rates on the respective Uncertificated Balance Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-Nc1, Mortgage Pass-Through Certificates, Series 2006-Nc1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates CE-1 Interest for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE-1 Interest to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Notional Amount of the Class CE-1 Interest and, thereafter, among the Class CE Offered Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA basis Interest based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such CertificateInterest. All such shortfalls allocated to the Class CE-1 Interest shall be allocated to the Class CE-1 Certificates. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Loan Group I shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and to the REMIC I Group I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up , and then, to an REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount equal of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest Loss , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I Regular Interest I-LT1 LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2a, REMIC I Regular Interest I-LTA2b, REMIC I Regular Interest I-LTA2c, REMIC I Regular Interest I-LTA2d, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I-LTM9, REMIC I Regular Interest I-LTM10 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA on a pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All ; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LT1SUB, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTXX, on a pro rata basis based on, and to the related extent of, one month’s interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust, Series 2005-C), Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2005-D)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Adjustable-Rate Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Adjustable-Rate Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts shall be allocated among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first(i) with respect to the Group I Mortgage Loans, to Uncertificated Interest payable to REMIC I 1 Regular Interest I-LT1 and REMIC I 1 Regular Interest ILT1PF, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-LT9 up Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest; provided, however, with respect to an the first three Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1PF and (ii) with respect to the Group II Mortgage Loans, to REMIC 1 Regular Interest LT2 and REMIC 1 Regular Interest LT2PF, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT2 and such amounts relating to the Subsequent Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT2PF. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, the aggregate amount equal to of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter Mortgage Loans for any Distribution Date shall be allocated among REMIC I 2 Regular Interest I-LT1LTAA, REMIC I 2 Regular Interest I-LT2LTIA1, REMIC I 2 Regular Interest I-LT3LTIIA1, REMIC I 2 Regular Interest I-LT4LTIIA2, REMIC I 2 Regular Interest I-LT5LTIIA3, REMIC I 2 Regular Interest I-LT6LTM1, REMIC I 2 Regular Interest I-LT7LTM2, REMIC I 2 Regular Interest I-LT8 LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10, REMIC 2 Regular Interest LTB1, REMIC 2 Regular Interest LTB2, REMIC 2 Regular Interest LTB3, REMIC 2 Regular Interest LTB4 and REMIC I 2 Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ffh3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount Distributable Amount for each of the Interest Distribution Amounts for the Class A Certificates, the Mezzanine Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Offered 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE C 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated (i) with respect to the Group I Mortgage Loans, to REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1B, in each case to the extent of one month's interest at the then applicable respective Uncertificated Interest payable REMIC 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest; provided, however, with respect to the first Distribution Date, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I 1 Regular Interest I-LT1 LT1A and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1B and (ii) with respect to the Group II Mortgage Loans, to REMIC 1 Regular Interest LT1C and REMIC I 1 Regular Interest I-LT9 up to an aggregate amount equal LT1D, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest; provided, however, with respect to the first Distribution Date, such amounts relating to the Initial Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest Loss Allocation AmountLT1C and such amounts relating to the Subsequent Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1D. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 2 Regular Interest I-LT1 LT2AA and REMIC I 2 Regular Interest I-LT9 LT2ZZ up to an aggregate amount equal to the REMIC I 2 Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I 2 Regular Interest I-LT1LT2AA, REMIC I 2 Regular Interest I-LT2LT2A1, REMIC I 2 Regular Interest I-LT3LT2A2, REMIC I 2 Regular Interest I-LT4LT2A3, REMIC I 2 Regular Interest I-LT5LT2M1, REMIC I 2 Regular Interest I-LT6LT2M2, REMIC I 2 Regular Interest I-LT7LT2M3, REMIC I 2 Regular Interest I-LT8 LT2M4, REMIC 2 Regular Interest LT2M5, REMIC 2 Regular Interest LT2M6 and REMIC I 2 Regular Interest I-LT9 LT2ZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Option One Mortgage Accep Corp Asset Back Certs Ser 2003 5), Pooling and Servicing Agreement (Option One Mort Accep Corp Asset Backed Cert Ser 2003-6)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Floating Rate Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Floating Rate Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts shall be allocated among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to REMIC 1 Regular Interest I and to the REMIC 1 Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest, and then, to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I 2 Regular Interest I-LT1 LTAA, REMIC 2 Regular Interest LTIA1, REMIC 2 Regular Interest LTIIA1, REMIC 2 Regular Interest LTIIA2, REMIC 2 Regular Interest LTIIA3, REMIC 2 Regular Interest LTIIA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8A, REMIC 2 Regular Interest LTM8B, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTM10 and REMIC I 2 Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1), Pooling and Servicing Agreement (Soundview Home Loan Trust 2007-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Floating Rate Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Floating Rate Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts shall be allocated among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, to REMIC 1 Regular Interest LT1 and REMIC 1 Regular Interest LT1PF, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest; provided, however, with respect to the first Distribution Date, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT1PF and (ii) with respect to the Group II Mortgage Loans, to REMIC 1 Regular Interest LT2 and REMIC 1 Regular Interest LT2PF, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest; provided, however, with respect to the first Distribution Date, such amounts relating to the Initial Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT2 and such amounts relating to the Subsequent Group II Mortgage Loans shall be allocated to REMIC 1 Regular Interest LT2PF. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to Uncertificated Interest payable to REMIC I 2 Regular Interest I-LT1 I and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount2 Regular Interests ending with the designation “B”, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 2 Regular Interest, and then, to REMIC 2 Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 2 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 3 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC 3 Regular Interest LTAA, REMIC 3 Regular Interest LTIA1, REMIC 3 Regular Interest LTIIA1, REMIC 3 Regular Interest LTIIA2, REMIC 3 Regular Interest LTIIA3, REMIC 3 Regular Interest LTIIA4, REMIC 3 Regular Interest LTM1, REMIC 3 Regular Interest LTM2, REMIC 3 Regular Interest LTM3, REMIC 3 Regular Interest LTM4, REMIC 3 Regular Interest LTM5, REMIC 3 Regular Interest LTM6, REMIC 3 Regular Interest LTM7, REMIC 3 Regular Interest LTM8, REMIC 3 Regular Interest LTM9, REMIC 3 Regular Interest LTM10 and REMIC 3 Regular Interest LTZZ pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 3 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 3 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3), Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class B Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I Regular Interest I-LT1 LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1F, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTA4W, REMIC I Regular Interest I-LTA5, REMIC I Regular Interest I-LTA5W, REMIC I Regular Interest I-LTA6, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTM8, REMIC I Regular Interest I- LTM9, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2005-A), Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2005-A)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Loan Group I shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and to the REMIC I Group I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest I-LT9 up , and then, to an REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount equal of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest Loss , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Amount, __% Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and __%, respectively and (2) the REMIC II Marker Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTA5, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA on a pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All ; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LT1SUB, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTXX, on a pro rata basis based on, and to the related extent of, one month’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc2), Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2006-Wmc3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls Shortfall (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (New Century Asset Backed Floating Rate Cert Ser 1998-Nc1), Pooling and Servicing Agreement (New Century Asset Backed Fl Rt Cert Sers 1997-Nc5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Class R Certificates, the Mezzanine Certificates and the Class CE X Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE X Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, thereafter, among the Class A Certificates, the Class R Certificates and the Mezzanine Certificates on a PRO RATA 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 of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class CE X Certificates on a PRO RATA 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 Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC I 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated REMIC 1 Regular Interest payable LT1A, and second to REMIC I 1 Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT1B, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest Loss Allocation Amountfor the Uncertificated REMIC 2 Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to Uncertificated REMIC I 2 Regular Interest I-LT1 LT2A and REMIC I 2 Regular Interest I-LT9 LT2J up to an aggregate amount equal to the REMIC I 2 Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among the Uncertificated REMIC I 2 Regular Interest I-LT1Interests, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Group I Class A Certificates, the Group I Mezzanine Certificates and the Class CE CE-I Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE CE-I 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 respective Notional Amount of each such Certificate and, thereafter, among the Group I Class A Certificates and the Group I Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE CE-I 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Group II Class A Certificates, the Group II Mezzanine Certificates and the Class CE-II Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE-II 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 respective Notional Amount of each such Certificate and, thereafter, among the Group II Class A Certificates and the Group II Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE-II 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Group III Class A Certificates, the Group III Mezzanine Certificates and the Class CE-III Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE-III 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 respective Notional Amount of each such Certificate and, thereafter, among the Group III Class A Certificates and the Group III Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE-III 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I I-A Regular Interests, the REMIC I-B Regular Interests and the REMIC I-C Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated firstshall be allocated (i) with respect to the Group I Mortgage Loans and (a) the first Distribution Date, to REMIC I-A Regular Interest IA-LT1, to the extent of one month's interest at the then applicable REMIC I-A Remittance Rate on the Uncertificated Balance of such REMIC I-A Regular Interest payable and (b) any Distribution Date thereafter, to REMIC I I-A Regular Interest IIA-LT1 and REMIC I I-A Regular Interest IA-LT2, pro rata, to the extent of one month's interest at the then applicable REMIC I-LT9 up to an aggregate amount equal A Remittance Rate on the Uncertificated Balance of such REMIC I-A Regular Interest, (ii) with respect to the Group II Mortgage Loans to REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I I-B Regular Interest IIB-LT1, to the extent of one month's interest at the then applicable REMIC I I-B Remittance Rate on the Uncertificated Balance of such REMIC I-B Regular Interest and (iii) with respect to the Group III Mortgage Loans and (a) the first Distribution Date, to REMIC I-C Regular Interest IC- LT1, to the extent of one month's interest at the then applicable REMIC I-C Remittance Rate on the Uncertificated Balance of such REMIC I-C Regular Interest and (b) any Distribution Date thereafter, to REMIC I-C Regular Interest IC-LT1 and REMIC I-C Regular Interest IC-LT2, pro rata, to the extent of one month's interest at the then applicable REMIC I-C Remittance Rate on the Uncertificated Balance of such REMIC I-C Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated shall be allocated (i) with respect to the Group I Mortgage Loans, among REMIC II Regular Interest I-LT3II- LTAA1, REMIC I II Regular Interest III-LT4LTAI1, REMIC I II Regular Interest III-LT5LTAI2, REMIC I II Regular Interest III-LT6LTAI3, REMIC I II Regular Interest III-LT7LTAI4, REMIC I II Regular Interest III-LT8 LTAI5, REMIC II Regular Interest II-LTAI6, REMIC II Regular Interest II-LTAI7, REMIC II Regular Interest II-LTAI8, REMIC II Regular Interest II-LTAI9, REMIC II Regular Interest II-LTMI1, REMIC II Regular Interest II-LTMI2, REMIC II Regular Interest II-LTB1 and REMIC I II Regular Interest III-LT9 LTZZ1 on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on , (i) with respect to the Group II Mortgage Loans, among REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LTAA2, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LTAII1, REMIC II Regular Interest II-LTAII2, REMIC II Regular Interest II-LTAII3, REMIC II Regular Interest II-LTAII4, REMIC II Regular Interest II-LTAII5, REMIC II Regular Interest II- LTAII6, REMIC II Regular Interest II-LTAII7, REMIC II Regular Interest II-LTAII8, REMIC II Regular Interest II-LTAII9, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTB2 and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTZZ2 on a PRO RATA basis based on, and to the related extent of, one month's interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest and (iii) with respect to the Group III Mortgage Loans, among REMIC II Regular Interest II-LTAA3, REMIC II Regular Interest II-LTAIII1, REMIC II Regular Interest II-LTAIII2, REMIC II Regular Interest II-LTAIII3, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTB3 and REMIC II Regular Interest II-LTZZ3 on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust, Series 2004-A)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments Compensating Interest Payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Loan Group I shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and to the REMIC I Group I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest, and then, to REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest I-LT9 up to an aggregate amount equal II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest Loss , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Amount, __% Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and __%, respectively and (2) the REMIC II Marker Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA on a pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All ; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LT1SUB, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTXX, on a pro rata basis based on, and to the related extent of, one month’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2007-He2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates, the Class M Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Offered Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date:
(a) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest IInterests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up Interest, and then, to an aggregate amount equal REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Interest Loss Allocation Amount, __% and __%, respectively and Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
(2b) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1AA, REMIC I II Regular Interest I-LT2A-1, REMIC I II Regular Interest I-LT3A-2, REMIC I II Regular Interest I-LT4A-3, REMIC I II Regular Interest I-LT5M-1, REMIC I II Regular Interest I-LT6M-2, REMIC I II Regular Interest I-LT7M-3, REMIC I II Regular Interest I-LT8 M-4, REMIC II Regular Interest M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7 and REMIC I II Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He10)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Senior Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Senior Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT11 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT8, REMIC I Regular Interest I- LT9, REMIC I Regular Interest I-LT10 and REMIC I Regular Interest I-LT9 LT11 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Inc Mort Pa THR Cert Ser 1998-Wfc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, Mezzanine Certificates, the Class B Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates, the Class B Certificates and Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts shall be allocated among the Class CE C Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to REMIC 1 Regular Interest I and to the REMIC 1 Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest, and then, to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I 2 Regular Interest I-LT1 LTAA, REMIC 2 Regular Interest LTIA1, REMIC 2 Regular Interest LTIIA1, REMIC 2 Regular Interest LTIIA2, REMIC 2 Regular Interest LTIIA3, REMIC 2 Regular Interest LTIIA4, REMIC 2 Regular Interest LTM1, REMIC 2 Regular Interest LTM2, REMIC 2 Regular Interest LTM3, REMIC 2 Regular Interest LTM4, REMIC 2 Regular Interest LTM5, REMIC 2 Regular Interest LTM6, REMIC 2 Regular Interest LTM7, REMIC 2 Regular Interest LTM8, REMIC 2 Regular Interest LTM9, REMIC 2 Regular Interest LTB1, REMIC 2 Regular Interest LTB2, REMIC 2 Regular Interest LTB3 and REMIC I 2 Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Fremont Home Loan Trust 2006-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A A-1 Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicers pursuant to Section 3.22 of this Agreement or the Master Servicer pursuant to Section 3.24) 4.18 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first, to the Class CE Certificates, second, to the Class M-4 Certificates, third, to the Class M-3 Certificates, fourth, to the Class M-2 Certificates, fifth, to the Class M-1 Certificates and sixth, to the Class A-1 Certificates, on a PRO RATA basis, in each case 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 Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A-1 Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective or Notional Amount of each such Certificatethereof, as applicable. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicers pursuant to Section 3.22 of this Agreement or the Master Servicer pursuant to Section 3.244.18) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I Regular Interest I-LT1 LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp Series 2005 SD1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, (a) with respect to Uncertificated Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest Loss Allocation Amount, __% I-LT1 and __%, respectively such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1PF and (2b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT2PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group II Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2 and such amounts relating to the Subsequent Group II Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2PF. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest I-LT1 II- LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest III-LT1LTA1, REMIC I II Regular Interest III-LT2LTA2,REMIC II Regular Interest II-LTA3, REMIC I II Regular Interest III-LT3LTA4, REMIC I II Regular Interest III-LT4LTA5, REMIC I II Regular Interest III-LT5LTM1, REMIC I II Regular Interest III-LT6LTM2, REMIC I II Regular Interest III-LT7LTM3, REMIC I II Regular Interest III-LT8 LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTMV6, REMIC II Regular Interest II-LTMF6 and REMIC I II Regular Interest III-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective PassREMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-Through LT1SUB, REMIC II Regular Interest II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and REMIC II Regular Interest II-LTXX, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Sec Inc Asset Backed Pas THR Cer Ser 2003-Wi)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class S Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates, the Mezzanine Certificates and the Class S 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, (a) with respect to Uncertificated Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first two Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest Loss Allocation Amount, __% I-LT1 and __%, respectively such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1PF and (2b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT2PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first two Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2PF. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to REMIC II Regular Interest II-LT1 and REMIC II Regular Interest II-LTP and then, to REMIC II Regular Interest II-LTS, in each case to the extent of one month's interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC III Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I III Regular Interest IIII-LT1 LTAA and REMIC I III Regular Interest IIII-LT9 LTZZ up to an aggregate amount equal to the REMIC I III Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I III Regular Interest IIII-LT1LTAF1, REMIC I III Regular Interest IIII-LT2LTAF2, REMIC I III Regular Interest IIII-LT3LTAF3, REMIC I III Regular Interest IIII-LT4LTAF4, REMIC I III Regular Interest IIII-LT5LTAV1, REMIC I III Regular Interest IIII-LT6LTAV2, REMIC I III Regular Interest IIII-LT7LTAV3, REMIC I III Regular Interest IIII-LT8 LTM1, REMIC III Regular Interest III-LTM2, REMIC III Regular Interest III-LTM3 and REMIC I III Regular Interest IIII-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Backed Thru Cer Ser 2002-5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Floating Rate Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA Class CE Certificates based on, and to the extent of, one month's ’s interest at the then applicable Pass-Through Rate on the Notional Amount of the Class CE Certificates and, thereafter, among the Floating Rate 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 respective Certificate Principal Balance of each such Certificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Balance Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated first, to REMIC I Regular Interest I and to the REMIC I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. All Prepayment For purposes of calculating the amount of Uncertificated Interest Shortfalls and Relief Act Interest Shortfalls on for the REMIC II Regular Interests shall be allocated by for any Distribution Date, the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls are incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular Interest LTAA, REMIC II Regular Interest LTA1, REMIC II Regular Interest LTA2, REMIC II Regular Interest LTA3, REMIC II Regular Interest LTM1, REMIC II Regular Interest LTM2, REMIC II Regular Interest LTM3, REMIC II Regular Interest LTM4, REMIC II Regular Interest LTM5, REMIC II Regular Interest LTM6, REMIC II Regular Interest LTM7, REMIC II Regular Interest LTM8, REMIC II Regular Interest LTM9, REMIC II Regular Interest LTM10, REMIC II Regular Interest LTM11 and REMIC II Regular Interest LTZZ pro rata based on, and to the related extent of, one month’s interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Wfhe3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first, to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates Certificates, in that order, in each case on a PRO RATA 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 of each such Certificate and (32) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificatethereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.243.22 or the Master Servicer pursuant to Section 4.19) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) the aggregate amount Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I II Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA2A, REMIC I Regular Interest I-LT3LTA2B, REMIC I Regular Interest I-LT4LTM1, REMIC I Regular Interest I-LT5LTM2, REMIC I Regular Interest I-LT6LTM3, REMIC I Regular Interest I-LT7LTM4, REMIC I Regular Interest I-LT8 LTM5, REMIC I Regular Interest I-LTM6 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC I Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1A, REMIC I Regular Interest I-LT1B, REMIC I Regular Interest I-LT2A, REMIC I Regular Interest I-LT2B, and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Home Equity Loan Trust Series 2003 Hs1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1I- LTAA, REMIC I Regular Interest I-LT2LTA, REMIC I Regular Interest I-LT3LTM1, REMIC I Regular Interest I-LT4LTM2, REMIC I Regular Interest I-LT5LTM3, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LTM4 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2003-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-I- LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-I- LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and the REMIC I Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I- LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __98% and __2%, respectively respectively, and thereafter among REMIC I Regular Interest I-LTAV1A, REMIC I Regular Interest I-LTAV1B, REMIC I Regular Interest I-LTAV2, REMIC I Regular Interest I-LTAF1, REMIC I Regular Interest I-LTAF2, REMIC I Regular Interest I-LTAF3, REMIC I Regular Interest I-LTAF4, REMIC I Regular Interest I-LTAF5, REMIC I Regular Interest I-LTAF6, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTMV6, REMIC I Regular Interest I-LTMF6 and REMIC I Regular Interest I-LTZZ, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; and
(2B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC I Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest I-LT3GRP and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTXX, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asst Back Pass THR Certs Ser 2003-W3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, (a) with respect to Uncertificated Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest Loss Allocation AmountI-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1PF, __% (b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest I-LT2 and __%REMIC I Regular Interest I-LT2PF, respectively in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2 and such amounts relating to the Subsequent Group II Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2PF and (2c) with respect to the Group III Mortgage Loans, to REMIC I Regular Interest I-LT3 and REMIC I Regular Interest I-LT3PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group III Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT3 and such amounts relating to the Subsequent Group III Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT3PF. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest I-LT1 II- LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest III-LT1LTAV1, REMIC I II Regular Interest III-LT2LTAV2, REMIC I II Regular Interest III-LT3LTAF1, REMIC I II Regular Interest III-LT4LTAF2, REMIC I II Regular Interest III-LT5LTAF3, REMIC I II Regular Interest III-LT6LTAF4, REMIC I II Regular Interest III-LT7LTAF5, REMIC I II Regular Interest III-LT8 LTAF6, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC I II Regular Interest III-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All ; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LT1SUB, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP, REMIC II Regular Interest II- LT3SUB, REMIC II Regular Interest II-LT3GRP and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTXX, PRO RATA based on, and to the related extent of, one month's interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Back Pass THR Ser 2003-13)
Allocation of Certain Interest Shortfalls. (a) For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A A-1 Certificates, the Class S-1 Certificates and the Class CE C-1 Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in Loan Group I for any Distribution Date shall be allocated first, among the Class CE C-1 Certificates on a PRO RATA pro rata basis based on and to the extent of one month's interest at the then applicable Pass-Through Rate on the Notional Amount of each such Certificate and, thereafter, but only in the case of any Relief Act Interest Shortfalls, among the Class A-1 Certificates and the Class S-1 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 respective Certificate Principal Balance or Notional Amount of each such Certificate, Certificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class C-1 Certificates on a pro rata basis based on and to the extent of one month's interest at the then applicable Pass-Through Rate on the Notional Amount of each such Certificate.
(b) For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class A-2 Certificates and the Class C-2 Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in Loan Group II for any Distribution Date shall be allocated first, among the Class CE C-2 Certificates on a PRO RATA pro rata basis based on, on and to the extent of, of one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, but only in the case of any Relief Act Interest Shortfalls, among the Class A A-2 Certificates on a PRO RATA 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 of each such Certificate and (32) the aggregate amount of any related Realized Losses incurred for any Distribution Date shall be allocated among to the Class CE C-2 Certificates on a PRO RATA pro rata basis based on, on and to the extent of, of one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. .
(c) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, (1i) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in Loan Group I for any Distribution Date shall be allocated among REMIC 1 Regular Interest I-LT1-A and REMIC 1 Regular Interest I-LT1-B, on a pro rata basis based on and to the extent of one month's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 1 Regular Interest, and (ii) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Loans in Loan Group II for any Distribution Date shall be allocated to REMIC 1 Regular Interest II-LT1-A to the extent of one month's interest at the then applicable Uncertificated REMIC 1 Pass-Through Rate on the Uncertificated Principal Balance of such Uncertificated REMIC 1 Interest.
(d) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, (i) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Loans in Loan Group I for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 2 Regular Interest I-LT1 LT2-A and REMIC I 2 Regular Interest I-LT9 LT2-C up to an aggregate amount equal to the Group I REMIC I 2 Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter thereafter, but only in the case of any Relief Act Interest Shortfalls, among REMIC I Regular Interest I-LT1, REMIC I 2 Regular Interest I-LT2-A, REMIC I 2 Regular Interest I-LT3LT2-B, REMIC I 2 Regular Interest I-LT4, L-C and REMIC I 2 Regular Interest I-LT5, REMIC I Regular Interest ILT2-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA S on a pro rata basis based on, on and to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Interest and (ii) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls on incurred in respect of the REMIC Loans in Loan Group II Regular Interests for any Distribution Date shall be allocated by first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest II-LT2-A and REMIC 2 Regular Interest II-LT2-C up to an aggregate amount equal to the Trust Administrator on each Distribution Date among the Group II REMIC II Regular Interests 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter, but only in the proportion that Prepayment Interest Shortfalls and case of any Relief Act Interest Shortfalls are allocated Shortfalls, among REMIC 2 Regular Interest II-LT2-A, REMIC 2 Regular Interest II--B and REMIC 2 Regular Interest II-LT2-C on a pro rata basis based on and to the related extent of one month's interest at the then applicable respective Uncertificated Corresponding ComponentREMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 2 Regular Interest .
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Sec Corp New South Home Equity Trust 2001-1)
Allocation of Certain Interest Shortfalls. (a) For purposes of calculating the amount of Accrued Certificate the Monthly Interest Distributable Amount and the amount of the Interest Distribution Amounts Distributable Amount for each Class of the Class A Certificates, the Class S Certificates and the Class CE B-IO Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE B-IO 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Class S 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE B-IO 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 respective Notional Amount of each such Certificate. .
(b) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first to REMIC 1 Regular Interest LT1-A and then to REMIC 1 Regular Interest LT1-B, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Interest, except that, to Uncertificated the extent Prepayment Interest payable Shortfalls are allocated to REMIC I Regular the Class S Certificates, such Prepayment Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal Shortfalls shall be allocated to the REMIC I 1 Regular Interest Loss Allocation AmountLT1-B.
(c) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 2 Regular Interest ILT2-LT1 A and REMIC I 2 Regular Interest ILT2-LT9 C up to an aggregate amount equal to the REMIC I 2 Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I 2 Regular Interest ILT2-LT1A, REMIC I 2 Regular Interest ILT2-LT2, B and REMIC I 2 Regular Interest ILT2-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 C PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I 2 Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Financial Asset Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, thereafter, among the Class A Certificates, the Mezzanine Certificates and the Class A-IO Certificates on a PRO RATA 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 (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to the REMIC I Regular Interests (other than REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTP) pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular InterestInterest (other than REMIC I Regular Interest I-LTP). All Prepayment For purposes of calculating the amount of Uncertificated Interest Shortfalls and Relief Act Interest Shortfalls on for the REMIC II Regular Interests shall be allocated by for any Distribution Date, the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls are incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LT1 and REMIC II Regular Interest II-LT6 up to an aggregate amount equal to the related REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LT1, REMIC II Regular Interest II-LT2, REMIC II Regular Interest II-LT3, REMIC II Regular Interest II-LT4, REMIC II Regular Interest II-LT5 and REMIC II Regular Interest II-LT6 pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass- Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2001-Nc2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the related Mortgage Loans for any Distribution Date shall be allocated first, to the related CE Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the related Class CE A Certificates and Class M Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P) for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of Loan Group I shall be allocated first, to REMIC I Regular Interests ending with the Mortgage Loans designation “B” and REMIC I Regular Interest I-Non-Swap, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests (other than REMIC II Regular Interest P) for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC II Regular Interests ending with the designation “B” and REMIC II Regular Interest II-Non-Swap, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest, and then, to REMIC II Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest. The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of Loan Group I for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I III Regular Interest I-LT1 AA and REMIC I III Regular Interest I-LT9 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 I III Regular Interest I-LT1AA, each REMIC III Group I Regular Interest for which a Class I-A Certificate or Class I-M Certificate is the Corresponding Certificate and REMIC III Regular Interest I-LT2ZZ, REMIC I Regular Interest I-LT3pro rata, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC III Group I Regular Interest. All The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls on the REMIC incurred in respect of Loan Group II Regular Interests for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among first, to Uncertificated Accrued Interest payable to REMIC III Regular Interest II-AA and REMIC III Regular Interest II-ZZ up to an aggregate amount equal to the REMIC III Group II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC III Regular Interest II-AA, each REMIC III Group II Regular Interests in Interest for which a Class II-A Certificate or Class II-M Certificate is the proportion that Prepayment Corresponding Certificate and REMIC III Regular Interest Shortfalls II-ZZ, pro rata, based on, and Relief Act Interest Shortfalls are allocated to the related extent of, one month’s interest at the then applicable respective Uncertificated Corresponding ComponentREMIC III Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC III Group II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2006-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) 3.22 of this Agreement or pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first, to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates 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 of each such Certificate and (32) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificatethereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.243.22 of this Agreement or pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 4.19) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) the aggregate amount Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I II Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTM1, REMIC I Regular Interest I-LT4LTM2, REMIC I Regular Interest I-LT5LTM3, REMIC I Regular Interest I-LT6LTM4, REMIC I Regular Interest I-LT7LTM5, REMIC I Regular Interest I-LT8 LTM6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.22 of this Agreement or pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 4.19) and the REMIC I Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1A, REMIC I Regular Interest I-LT1B, REMIC I Regular Interest I-LT2A, REMIC I Regular Interest I-LT2B, and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Hm Equity Ln Trust Ser 2003-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountRegular Interests ending with the designation "B", ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate REMIC I Remittance Rates on the respective Uncertificated Balance Balances of each such REMIC I Regular Interest, and then, to REMIC I Regular Interests ending with the designation "A", pro rata based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. All Prepayment For purposes of calculating the amount of Uncertificated Interest Shortfalls and Relief Act Interest Shortfalls on for the REMIC II Regular Interests shall be allocated by for any Distribution Date, the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that aggregate amount of any Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls are incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular Interest II-LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and REMIC II Regular Interest II-LTZZ, PRO RATA, based on, and to the related extent of, one month's interest at the then applicable respective REMIC II Remittance Rates on the respective Uncertificated Corresponding ComponentBalances of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2006-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates, the Mezzanine Certificates and the Class IO 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 respective Certificate Principal Balance or Notional Amount, as applicable, of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to the REMIC I Regular Interests (other than REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 LTP1) PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest (other than REMIC I Regular Interest I-LTP1). For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to the REMIC II Regular Interests (other than REMIC II Regular Interest II-LTP) PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest (other than REMIC II Regular Interest II-LTP). For purposes of calculating the amount of Uncertificated Interest for the REMIC III Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC III Regular Interest III-LT1 and REMIC III Regular Interest III-LT6 up to an aggregate amount equal to the REMIC III Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC III Regular Interest III-LT1, REMIC III Regular Interest III-LT2, REMIC III Regular Interest III-LT3, REMIC III Regular Interest III-LT4, REMIC III Regular Interest III-LT5 and REMIC III Regular Interest III- LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC III Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II IV Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II IV Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Mort Sec Inc New Cent Hm Eq Ln Tr Ser 2000-Nc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Loan Group I shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I and to the REMIC I Group I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC I Regular Interest I-LT9 up to an aggregate amount equal II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC II Marker Allocation Amount, __% Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and __%, respectively and (2) the REMIC II Marker Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTA3, REMIC II Regular Interest II-LTA4, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8, REMIC II Regular Interest II-LTM9, REMIC II Regular Interest II-LTM10, REMIC II Regular Interest II-LTM11 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTZZ, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA on a pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All ; and
(B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the Interest II-LT1SUB, REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LTXX, on a pro rata basis based on, and to the related extent of, one month’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MASTR Asset Backed Securities Trust 2005-He2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Company or the Master Servicer pursuant to Section 3.246.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof, and to the Class R-3 Certificates based on the amounts otherwise distributable thereto, and, thereafter, among the Class CE Certificates A, Class M and Class B Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Company or the Master Servicer pursuant to Section 3.246.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable the Class R-1 Certificates based on the amounts otherwise distributable thereto, second, to REMIC I Regular Interest IInterests ending with the designation “B, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up Interest, and third, to an aggregate amount equal REMIC I Regular Interests ending with the designation “A”, pro rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master Servicer pursuant to Section 6.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and to the amounts otherwise distributable to the Class R-2 Certificates, and thereafter among REMIC I II Regular Interest I-LT1AA, each REMIC I II Regular Interest I-LT2for which a Class A, Class M or Class B Certificate is the Corresponding Certificate and REMIC I II Regular Interest I-LT3ZZ, REMIC I Regular Interest I-LT4pro rata, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SACO I Trust 2006-9)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Percentage Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTM1, REMIC I Regular Interest I-LT4LTM2, REMIC I Regular Interest I-LT5LTMV3, REMIC I Regular Interest I- LTMF3, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LTM4 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC I Sub WAC Allocation Percentage Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Ast Back Ps THR Cert Ser 2003-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates, the Class M Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Class CE A Certificates and Class M Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date:
(a) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest IInterests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up Interest, and then, to an aggregate amount equal REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Interest Loss Allocation Amount, __% and __%, respectively and Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
(2b) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1A-1, REMIC I II Regular Interest I-LT2A-2, REMIC I II Regular Interest I-LT3A-3, REMIC I II Regular Interest I-LT4M-1, REMIC I II Regular Interest I-LT5M-2, REMIC I II Regular Interest I-LT6M-3, REMIC I II Regular Interest I-LT7M-4, REMIC I II Regular Interest I-LT8 M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7, REMIC II Regular Interest M-8A, REMIC II Regular Interest M-8B and REMIC I II Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He6)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTA3, REMIC I Regular Interest I-LT4LTM1, REMIC I Regular Interest I-LT5LTM2, REMIC I Regular Interest I-LT6LTM3, REMIC I Regular Interest I-LT7LTM4, REMIC I Regular Interest I-LT8 LTM5, REMIC I Regular Interest I-LTMV6, REMIC I Regular Interest I- LTMF6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I- LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest I- LT3GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Cert Se 03 WMC)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among first, to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates 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 of each such Certificate and (32) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificatethereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.243.22 or the Master Servicer pursuant to Section 4.19) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) the aggregate amount Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I II Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98.00% and __2.00%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I- LTA2, REMIC I Regular Interest I-LT2LTA3, REMIC I Regular Interest I-LT3LTM1, REMIC I Regular Interest I-LT4LTM2, REMIC I Regular Interest I-LT5LTM3, REMIC I Regular Interest I-LT6LTM4, REMIC I Regular Interest I-LT7LTM5, REMIC I Regular Interest I-LT8 LTM6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp Terwin Mort Trust Series TMTS 2003 6he)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Class S Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates, the Class S Certificates and the Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, (a) with respect to the Group I Mortgage Loans, to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1PF, (b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT2PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2 and such amounts relating to the Subsequent Group II Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2PF and (c) with respect to the Group III Mortgage Loans, to REMIC I Regular Interest I-LT3 and REMIC I Regular Interest I-LT3PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first three Distribution Dates, such amounts relating to the Initial Group III Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT3 and such amounts relating to the Subsequent Group III Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT3PF. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to REMIC II Regular Interest II-LT1, REMIC II Regular Interest II-LT2, REMIC II Regular Interest II-LT3, REMIC II Regular Interest II-LTSA, REMIC II Regular Interest II-LTSB, REMIC II Regular Interest II-LTSC, REMIC II Regular Interest II-LTSD, REMIC II Regular Interest II-LTSE and REMIC II Regular Interest II-LTP, in each case to the extent of one month's interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest. For purposes of calculating the amount of Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to for the REMIC I Interest Loss III Regular Interests for any Distribution Date:
(A) The REMIC III Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC III Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I III Regular Interest I-LT1 III- LTAA and REMIC I III Regular Interest IIII-LT9 LTZZ up to an aggregate amount equal to the REMIC I III Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I III Regular Interest IIII-LT1LTAV1, REMIC III Regular Interest III-LTAV2, REMIC III Regular Interest III-LTAF, REMIC III Regular Interest III-LTM1, REMIC III Regular Interest III-LTM2, REMIC III Regular Interest III-LTM3, REMIC I Regular Interest IIII-LT2LTM4, REMIC I Regular Interest IIII-LT3LTM5, REMIC I III Regular Interest IIII-LT4, LTM6 and REMIC I III Regular Interest IIII-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC III Remittance Rate on the respective Uncertificated Balance of each such REMIC I III Regular Interest. All ; and
(B) The REMIC III Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC III Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II III Regular Interests in the proportion that Prepayment Interest Shortfalls III-LT1SUB, REMIC III Regular Interest III-LT1GRP, REMIC III Regular Interest III-LT2SUB, REMIC III Regular Interest III-LT2GRP, REMIC III Regular Interest III-LT3SUB, REMIC III Regular Interest II-LT3GRP and Relief Act REMIC III Regular Interest Shortfalls are allocated III- LTXX, PRO RATA based on, and to the related extent of, one month's interest at the then applicable respective REMIC III Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Back Pass THR Cer Se 03 12)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA 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 of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class CE Certificates on a PRO RATA 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 Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-I- LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 PRO RATA LT6 pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Fl Rte Cert Se 1999-Nc4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Certificates, the Subordinate Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.10) incurred in respect and shortfalls resulting from application of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Subordinate Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the Uncertificated REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.10) incurred in respect and any shortfalls resulting from application of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to Uncertificated REMIC I Regular Interest I-LT1 and Uncertificated REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among Uncertificated REMIC I Regular Interest I-LT1, Uncertificated REMIC I Regular Interest I-LT2, Uncertificated REMIC I Regular Interest I-I- LT3, Uncertificated REMIC I Regular Interest I-LT4, Uncertificated REMIC I Regular Interest I-LT5, LT5 and Uncertificated REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Regular Interest. All Prepayment Interest Shortfalls and shortfalls resulting from application of the Relief Act Interest Shortfalls on the Uncertificated REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the Uncertificated REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and shortfalls resulting from application of the Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (WMC Secured Assets Corp WMC Mort Pass THR Cert Ser 2000-A)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up LT2, in each case to an aggregate the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. For purposes of calculating the amount equal to of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date:
(A) the REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Loss Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and the REMIC I Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1I- LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTA3, REMIC I Regular Interest I-LT4LTM1, REMIC I Regular Interest I-LT5LTM2, REMIC I Regular Interest I-LT6LTM3, REMIC I Regular Interest I-LT7LTM4, REMIC I Regular Interest I-LT8 LTM5, REMIC I Regular Interest I-LTM6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest I-LT3GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, PRO RATA based on, and to the related extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2003-3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest payments by the related Servicer pursuant to Section 3.24or the Master Servicer) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTA3, REMIC I Regular Interest I-LT4LTA4, REMIC I Regular Interest I-LT5LTA5, REMIC I Regular Interest I-LT6LTA6, REMIC I Regular Interest I- LTM1, REMIC I Regular Interest I-LT7LTM2, REMIC I Regular Interest I-LT8 LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments of Compensating Interest by the Servicer or the Master Servicer) and the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I- LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I- LT2SUB, REMIC I Regular Interest I-LT2GRP, REMIC I Regular Interest I- LT3SUB, REMIC I Regular Interest I-LT3GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I- LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mastr as Bk Sec Tr 2004 Wmc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA3A, REMIC I Regular Interest I-LT3LTA3B, REMIC I Regular Interest I-LT4LTM1, REMIC I Regular Interest I-LT5LTM2, REMIC I Regular Interest I-LT6LTM3, REMIC I Regular Interest I-LT7LTM4, REMIC I Regular Interest I-LT8 LTM5, REMIC I Regular Interest I-LTM6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I- LT2GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Cert Ser 2003 WMC)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among to the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTA3, REMIC I Regular Interest I-LT4LTM1, REMIC I Regular Interest I-LT5LTM2, REMIC I Regular Interest I-LT6LTM3, REMIC I Regular Interest I-LT7LTM4, REMIC I Regular Interest I-LT8 LTM5, REMIC I Regular Interest I-LTM6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I- LT2GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, pro rata based on, and to the related extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mort Asset Sec Transactions Inc Mastr as Bk Sec Tr 03 Nc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Subordinate Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE C 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Subordinate 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses allocable to interest incurred for any Distribution Date shall be allocated among the Class CE C 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 respective Notional Amount of each such Certificate. Any other Realized Losses will be allocated in accordance with Section 4.04. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTIAA and REMIC I Regular Interest I-LT9 LTIZZ up to an aggregate amount equal to the REMIC I Group I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1LTIAA, REMIC I Regular Interest I-LT2LTA1, REMIC I Regular Interest I-LT3LTIM1, REMIC I Regular Interest I-LT4LTIM2, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LTIM3 and REMIC I Regular Interest I-LT9 LTIZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act (ii) with respect to the Group II Mortgage Loans first, to Uncertificated Interest Shortfalls payable to REMIC I Regular Interest I-LTIIAA and REMIC I Regular Interest I-LTIZZ up to an aggregate amount equal to the REMIC I Group II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest I-LTIIAA, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTIIM1, REMIC I Regular Interest I-LTIIM2, REMIC I Regular Interest I-LTIIM3 and REMIC I Regular Interest I-LTIIZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of such REMIC II I Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding ComponentInterest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Floating Rate Mortgage Pass-Through Cert-Series 2001-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1I- LTAA, REMIC I Regular Interest I-LT2LTA, REMIC I Regular Interest I-LT3LM1, REMIC I Regular Interest I-LT4LTM2, REMIC I Regular Interest I-LT5LTM3, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LTM4 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Home Equity Loan Trust Series 2002-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Floating Rate Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA Class CE Certificates based on, and to the extent of, one month's ’s interest at the then applicable Pass-Through Rate on the Notional Amount of the Class CE Certificates and, thereafter, among the Floating Rate 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 respective Certificate Principal Balance of each such Certificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Balance Interest for the REMIC I Group I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.23 of this Agreement or the Master Servicer pursuant to Section 4.18) and any Relief Act Interest Shortfalls incurred in respect of Group I Mortgage Loans shall be allocated first, to REMIC I Regular Interest I and to the REMIC I Group I Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest, and then, to REMIC I Group I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. All For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.23 of this Agreement or the Master Servicer pursuant to Section 4.18) and any Relief Act Interest Shortfalls incurred in respect of Group II Mortgage Loans shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests shall be allocated by the Trust Administrator on each for any Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.Date:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Nc2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT6 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-I- LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT5 and REMIC I Regular Interest I-LT9 LT6 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Fl Rte Pa THR Cer Ser 1999-Lbi)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer under the related Servicing Agreement or by the Master Servicer pursuant to Section 3.24) 3.20 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the 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 Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificatethereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.20 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (1i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the applicable Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.243.20) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest III-LT1LTAA, REMIC I II Regular Interest III-LT2LTA1, REMIC I II Regular Interest III-LT3LTA2A, REMIC I II Regular Interest I-LT4II- LTA2B, REMIC I II Regular Interest III-LT5LTA2C, REMIC I II Regular Interest III-LT6LTM1, REMIC I II Regular Interest III-LT7LTM2, REMIC I II Regular Interest III-LT8 LTM3 and REMIC I II Regular Interest III-LT9 LTZZ, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ace Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 LT7 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LT6 and REMIC I Regular Interest I-LT9 LT7 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator Trustee on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates Certificates, the Class M, the Class B and the Class CE C Certificates and Class C Interest for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Class A, Class M and Class B Certificates, 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 Rates on the respective Certificate Principal Balances of each such Certificate.
(a) 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 Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest I-LT1 AA and REMIC I Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among the REMIC I Regular Interests other than REMIC I Regular Interest I-LT1P, REMIC I Regular Interest I-LT2pro rata, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust 2005-9)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) the REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) Percentage of the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1I- LTA1, REMIC I Regular Interest I-LT2LTA2, REMIC I Regular Interest I-LT3LTA3A, REMIC I Regular Interest I-LT4LTA3B, REMIC I Regular Interest I-LT5LTM1, REMIC I Regular Interest I-LT6LTM2, REMIC I Regular Interest I-LT7LTM3, REMIC I Regular Interest I-LT8 LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All ; and
(B) the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and the REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Relief Act Interest Shortfalls on incurred in respect of the REMIC II Regular Interests Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the first, to Uncertificated Interest payable to REMIC II I Regular Interests in the proportion that Prepayment Interest Shortfalls I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest I-LT3GRP and Relief Act REMIC I Regular Interest Shortfalls are allocated I-LTXX, PRO RATA based on, and to the related extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (New Century Mort Sec Inc Home Equity Ln Tr Se 2003 B)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates, the Class M Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the Offered Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date:
(a) For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.245.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest IInterests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-LT1 and Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest I-LT9 up Interest, and then, to an aggregate amount equal REMIC I Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Interest Loss Allocation Amount, __% and __%, respectively and Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest.
(2b) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1A-1, REMIC I II Regular Interest I-LT2A-2, REMIC I II Regular Interest I-LT3A-3, REMIC I II Regular Interest I-LT4M-1, REMIC I II Regular Interest I-LT5M-2, REMIC I II Regular Interest I-LT6M-3, REMIC I II Regular Interest I-LT7M-4, REMIC I II Regular Interest I-LT8 M-5, REMIC II Regular Interest M-6, REMIC II Regular Interest M-7 and REMIC I II Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-He8)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A A, Class M, Class B, Class C Certificates and the Class CE Certificates C Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Company or the Master Servicer pursuant to Section 3.246.02) and any Relief Act Interest Shortfalls incurred in respect of the related Mortgage Loans for any Distribution Date shall be allocated first, to the related Class C Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the related Class CE Certificates A, Class M and Class B Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest I-LT1 AA and REMIC I Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __98% and __2%, respectively respectively, and (2) thereafter among the REMIC I Regular Interests, pro rata, based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I Pass-Through Rates on the Uncertificated Principal Balances of each such REMIC 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 Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among the REMIC I II Regular Interest I-LT1Interests, REMIC I Regular Interest I-LT2pro rata, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SACO I Trust 2006-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A Certificates A, Class M, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the related Servicing Agreement, the Company or the Master Servicer pursuant to Section 3.246.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates on a PRO RATA basis C Interest based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificate otherwise distributable thereto and, thereafter, among the Class A Certificates A, Class M and Class B Certificates, on a PRO RATA basis pro rata basis, based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Balances or Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P) for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 3.246.02) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest I-LT1 AA and REMIC I Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1AA, each REMIC I Regular Interest I-LT2, for which a REMIC I II Regular Interest I-LT3, REMIC I Regular is the Corresponding Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA ZZ, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I Regular Interest. All Prepayment For purposes of calculating the amount of Uncertificated Accrued Interest Shortfalls and Relief Act Interest Shortfalls on for the REMIC II Regular Interests (other than REMIC II Regular Interest P) for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 6.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated by the Trust Administrator on each Distribution Date among the such REMIC II Regular Interests in the proportion same manner and priority as such amounts are allocable to the Corresponding Certificates and, in the case of REMIC II Regular Interest C, to the Class C Interest; provided, however, that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are solely for purposes of allocating such shortfalls to such REMIC II Regular Interests, any such shortfalls allocable to the Class A-2 Certificates shall be deemed to be allocated to the related Uncertificated Corresponding ComponentClass A-1 Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and the REMIC I Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I- LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __98% and __2%, respectively respectively, and thereafter among REMIC I Regular Interest I-LTAV1, REMIC I Regular Interest I-LTAV2, REMIC I Regular Interest I-LTAF1, REMIC I Regular Interest I-LTAF2, REMIC I Regular Interest I-LTAF3, REMIC I Regular Interest I-LTAF4, REMIC I Regular Interest I-LTAF5, REMIC I Regular Interest I-LTAF6, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I- LTM5, REMIC I Regular Interest I-LTMV6, REMIC I Regular Interest I-LTMF6 and REMIC I Regular Interest I-LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; and
(2B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC I Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest I-LT3GRP and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTXX, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Backed Ser 2003-10)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Pass- Through Rate on the respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Marker Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Percentage Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I Regular Interest I-LT1I- LTA, REMIC I Regular Interest I-LT2LTM1, REMIC I Regular Interest I-LT3LTM2, REMIC I Regular Interest I-LT4LTM3, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 LTM4 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asst Back Ps THR Cert Ser 2003-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Current Interest and the amount of the Interest Distribution Amounts for the Class A A, Class M, Class B, Class C Certificates and the Class CE Certificates C Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Company or the Master Servicer pursuant to Section 3.246.02) and any Relief Act Interest Shortfalls incurred in respect of the related Mortgage Loans for any Distribution Date shall be allocated first, to the related Class C Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Uncertificated Notional Amount thereof and, thereafter, among the related Class CE Certificates A, Class M and Class B Certificates, in each case on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Pass- Through Rate on the respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 Rates on the respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount Balances of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest I-LT1 AA and REMIC I Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __98% and __2%, respectively respectively, and (2) thereafter among the REMIC I Regular Interests, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I Pass-Through Rates on the Uncertificated Principal Balances of each such REMIC 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 Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest I-LT1 AA and REMIC I II Regular Interest I-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among the REMIC I II Regular Interest I-LT1Interests, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate Rates on the respective Uncertificated Balance Principal Balances of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates and the Mezzanine 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 respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, :
(1A) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and the REMIC I Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 I- LTAA and REMIC I Regular Interest I-LT9 LTZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __98% and __2%, respectively respectively, and thereafter among REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2,REMIC I Regular Interest I- LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I- LTM4 and REMIC I Regular Interest I-LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; and
(2B) The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and the REMIC I Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest II-LT3GRP and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountLTXX, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Asset Back Ps THR Certs Ser 2003-Ar2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class S Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates, the Mezzanine Certificates and the Class S 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 LT1, REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT9 up LT3 and then to an aggregate amount equal REMIC I Regular Interests I-LTS1A, I-LTX0X, X-XXX0X, X-XXX0X, X-XXX0X, X-XTS2B, I-LTS2C, I-LTS2D, I-LTS3A, I-LTS3B, I-LTS3C and I-XXX0X xx xxxx xxse to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest Loss Allocation Amountfor the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1II- LTAF1, REMIC I II Regular Interest III-LT2LTAF2, REMIC I II Regular Interest III-LT3LTAF3, REMIC I II Regular Interest III-LT4LTAF4, REMIC I II Regular Interest III-LT5LTAF5, REMIC I II Regular Interest I-LT6II- LTAF6, REMIC I II Regular Interest III-LT7LTAV1, REMIC I II Regular Interest III-LT8 LTAV2, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4 and REMIC I II Regular Interest III-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Pass Through Certificates 2002-3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts for the Class A Certificates and the Class CE Certificates for any Distribution Date, (1) the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on in 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 Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred Collateral Pool for any Distribution Date shall be allocated among the related Certificates (other than the Class CE Certificates on a PRO RATA basis based onP Certificates) pro rata in accordance with, and to the extent of, of one month's ’s interest at the then applicable respective Pass-Pass Through Rate on the respective Certificate Principal Balance or Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Certificate immediately prior to such Distribution Date, (1) the . The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in a Collateral Pool for any Distribution Date shall be allocated firstallocated, (i) with respect to Uncertificated Interest payable to the Group 1 Loans, among the REMIC I Regular Interest I-LT1 and REMIC I A Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, Interests pro rata in accordance with and to the extent of, of one month's ’s interest at the then applicable respective PassREMIC I-Through A Remittance Rate on the respective Uncertificated Balance Balances of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls regular interests, and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date then among the REMIC II I-B Regular Interests in the proportion that same manner and with same priorities as such Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated among the Corresponding Certificates and (ii) with respect to the related Group 2 Loans, among the REMIC II-A Regular Interests pro rata in accordance with and to the extent of one month’s interest at the REMIC II-A Remittance Rate on the respective Uncertificated Balances of such regular interests, and then among the REMIC II-B Regular Interests in the same manner and with same priorities as such Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated among the Corresponding ComponentCertificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar7)
Allocation of Certain Interest Shortfalls. For purposes (a) On any Distribution Date, the excess, if any, of calculating (X) the aggregate amounts required to be paid by the Servicer under the Servicing Agreement with respect to subclause (a) of the definition of Prepayment Interest Shortfall with respect to the Mortgage Loans for the related Distribution Date, and not so paid by the Servicer over (Y) the Compensating Interest Payment actually paid into the Master Servicer Collection Account pursuant to Section 6.06 for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of Accrued Certificate interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest and Shortfall.
(b) On any Distribution Date, the amount interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated to the Interest Distribution Amounts for Class of Subordinate Certificates then outstanding having the highest numerical class designation or, if no Class of Subordinate Certificates is then outstanding, to the Class A Certificates and (other than the Class CE PO Certificates) pro rata among the outstanding Classes of Class A Certificates for any Distribution Date, (1other than the Class PO Certificates) based on the aggregate amount of any Prepayment Interest Shortfalls (interest to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any which each such Class would otherwise be entitled on such Distribution Date had there been no such Realized Loss Interest Shortfall.
(c) Any interest shortfall resulting from the Relief Act or any similar state legislation, as amended shall be allocated pro rata among the Class CE outstanding Classes of 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, thereafter, among the Class A 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 respective Certificate Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating upon the amount of Uncertificated Interest for the REMIC I Regular Interests for any interest to which each such Class would otherwise be paid on such Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust, Series 2006-Af2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among to the Class CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Notional Amount of the Class CE Certificates and, thereafter, among the Class A Certificates and the Mezzanine Certificates on a PRO RATA 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 Notional Amount of each such Certificate and, thereafter, among the Class A Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Notional Amount of each such Certificatethe Class CE Certificates. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to allocatedto REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT1PF, in each case to the extent of one month’s interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first Distribution Date, such amounts relating to the Initial Mortgage Loans shall be allocated to REMIC I Regular Interest Loss Allocation AmountI-LT1 and such amounts relating to the Subsequent Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1PF. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, __% and __%, respectively and (2) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC I II Regular Interest III-LT1 LTAA, REMIC II Regular Interest II-LTA1A, REMIC II Regular Interest II-LTA1B, REMIC II Regular Interest II-LTA1C, REMIC II Regular Interest II-LTA1D, REMIC II Regular Interest II-LTA2, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6, REMIC II Regular Interest II-LTM7, REMIC II Regular Interest II-LTM8 and REMIC I II Regular Interest III-LT9 up to an aggregate amount equal to the LTM9 and REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I II Regular Interest III-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA LTZZ pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2005-Nc3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class S Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates, the Mezzanine Certificates and the Class S 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.244.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocatedallocated first, (a) with respect to Uncertificated Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first two Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest Loss Allocation AmountI-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1PF, __% (b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest I-LT2 and __%REMIC I Regular Interest I-LT2PF, respectively in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first two Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT2PF and (2c) with respect to the Group I Mortgage Loans, to REMIC I Regular Interest I-LT3 and REMIC I Regular Interest I- LT3PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, however, with respect to the first two Distribution Dates, such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT3 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT3PF;and then, (i) with respect to the Group I Mortgage Loans, to REMIC I Regular Interest I-LTS1A, REMIC I Regular Interest I-LTS1B, REMIC I Regular Interest I-LTS1C and REMIC I Regular Interest I-LTS1D and (ii) with respect to the Group II Mortgage Loans, REMIC I Regular Interest I-LTS2A, REMIC I Regular Interest I-LTS2B, REMIC I Regular Interest I-LTS2C and REMIC I Regular Interest I-LTS2D, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 4.03(e)) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I II Regular Interest III-LT1 LTAA and REMIC I II Regular Interest III-LT9 LTZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest I-LT1II- LTAF1, REMIC I II Regular Interest III-LT2LTAV1, REMIC I II Regular Interest III-LT3LTA2, REMIC I II Regular Interest III-LT4LTM1, REMIC I II Regular Interest III-LT5LTM2, REMIC I II Regular Interest III-LT6LTM3, REMIC I II Regular Interest III-LT7, LTM4 and REMIC I II Regular Interest III-LT8 and REMIC I Regular Interest I-LT9 LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc as Bk Ps THR CRTS Se 02-4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Amounts Distributable Amount for the Class A Certificates A, Class A-IO, Class M-1, Class M-2, Class BA, Class BB and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated FIRST, in reduction of amounts otherwise distributable to the Class C Certificates and Class R Certificates, AND THEREAFTER among the Offered Certificates in proportion to the amount of the Monthly Interest Distributable Amount that would have been allocated to such Certificates in the absence of such Unpaid Interest Shortfalls and (2) the interest portion of Realized Losses for the Mortgage Loans will be allocated first, to the Class CE C 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 respective Certificate Notional Amount Balance thereof, second to the Class BA Certificates and Class BB Certificates, on a pro rata basis, third to the Class M-2 Certificates, and fourth to the Class M-1 Certificates, and following the Cross-Over Date to the Class A Certificates and Class A-IO Certificates, on a pro rata basis. For purposes of each such Certificatecalculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, (2) the aggregate amount of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class CE Certificates on a PRO RATA basis based onto REMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, and to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Notional Amount Uncertificated Principal Balance of each such Certificate andREMIC I Regular Interest; and then, thereafterto REMIC I Regular Interest LTI-IO-A, among the Class A Certificates on a PRO RATA basis based onREMIC I Regular Interest LTI-IO-B and REMIC I Regular Interest LTI- IO-C, and in each case to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Certificate Uncertificated Principal Balance of each such Certificate and (3) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such CertificateREMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I II Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act 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 I II Regular Interest ILTII-LT1 AA and REMIC I II Regular Interest ILTII-LT9 ZZ up to an aggregate amount equal to the REMIC I II Interest Loss Allocation Amount, ___98% and __2%, respectively, and thereafter among REMIC I II Regular Interest ILTII-LT1A, REMIC I II Regular Interest ILTII-LT2M1, REMIC I II Regular Interest ILTII-LT3M2, REMIC I II Regular Interest ILTII-LT4BA, REMIC I II Regular Interest ILTII-LT5, BB and REMIC I II Regular Interest ILTII-LT6ZZ, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 PRO RATA 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 I II Regular Interest. All Prepayment Interest Shortfalls and Relief Act Interest Shortfalls on the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls and Relief Act Interest Shortfalls are allocated to the related Uncertificated Corresponding Component.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc 2003-Ac4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amounts Amount for the Class A Certificates, the Mezzanine Certificates, the Class S Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate, (2) the aggregate amount of any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Class 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 respective Notional Amount of each such Certificate and, and thereafter, among the Class A Certificates, the Mezzanine Certificates and the Class S 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 respective Certificate Principal Balance or Notional Amount of each such Certificate and (32) the aggregate amount of any Realized Losses incurred for any Distribution Date and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated among the Class 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 respective Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Master Servicer pursuant to Section 3.24) incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, __% and __%, respectively and (2) the aggregate amount of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC I Regular Interest I-LT1 and Interests (other than REMIC I Regular Interest I-LT9 up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, ___% and __%, respectively, and thereafter among REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2, REMIC I Regular Interest I-LT3, REMIC I Regular Interest I-LT4, REMIC I Regular Interest I-LT5, REMIC I Regular Interest I-LT6, REMIC I Regular Interest I-LT7, REMIC I Regular Interest I-LT8 and REMIC I Regular Interest I-LT9 LTP) PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Balance of each such REMIC I Regular InterestInterest (other than REMIC I Regular Interest I-LTP). All For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 3.24) and Relief Act Interest Shortfalls on incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LT1 and REMIC II Regular Interest II-LT6 up to an aggregate amount equal to the REMIC II Regular Interests shall be allocated by the Trust Administrator on each Distribution Date Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among the REMIC II Regular Interests in the proportion that Prepayment Interest Shortfalls II- LT1, REMIC II Regular Interest II-LT2, REMIC II Regular Interest II-LT3, REMIC II Regular Interest II-LT4, REMIC II Regular Interest II-LT5 and Relief Act REMIC II Regular Interest Shortfalls are allocated II-LT6 PRO RATA based on, and to the related extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Corresponding ComponentBalance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Ameriquest Mort Sec Inc Flo Rate Mort Pas THR Cert Ser 01 3)