Allocation of Certain Interest Shortfalls. 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 Mortgage Loans shall be allocated first, to REMIC I Regular Interest A-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 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, 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 (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ, 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 Balance of each such REMIC 2 Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp., Mortgage Pass-Through Certificates, Series 2005-2), Pooling and Servicing Agreement (Impac Secured Assets Corp)
Allocation of Certain Interest Shortfalls. 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 Mortgage Loans shall be allocated first, to REMIC I Regular Interest A-I and to the REMIC I Regular Interests ending with the designation “"B”", pro rata PRO RATA based on, and to the extent of, one month’s '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 '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, 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 (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ, 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 Balance of each such REMIC 2 Regular Interest.
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 Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, pro rata to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LTI-1 and LTI-PF, pro rata based on, and in each case to the extent of, of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC 1 Regular Interest; provided, and thenhowever, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, Interest LTI-1 and such amounts relating 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 Subsequent Mortgage Loans shall be allocated to REMIC 1 Regular InterestInterest LTI-PF. 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 (net of any Relief Act Compensating Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Payment) shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA XXX-X-0X0, XXX-X-0X0 and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ, pro rata MTI-A-2F based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of such REMIC 2 Regular Interest, second, to REMIC 2 Regular Interest MTI-1-B 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 such REMIC 2 Regular Interest, in each case 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, any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated in the same priority, and to the same extent, as that allocated to the Corresponding Certificates.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Trust 2005-5), Pooling and Servicing Agreement (Home Equity Mortgage Trust 2005-5)
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, pro rata to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LTI-1 and LTI-PF, pro rata based on, and in each case to the extent of, of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC 1 Regular Interest; provided, and thenhowever, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, Interest LTI-1 and such amounts relating 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 Subsequent Mortgage Loans shall be allocated to REMIC 1 Regular InterestInterest LTI-PF. 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 (net of any Relief Act Compensating Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Payment) shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA MTI-A-1 and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ, pro rata MTI-A-2 based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of such REMIC 2 Regular Interest, second, to REMIC 2 Regular Interest MTI-1-B 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 such REMIC 2 Regular Interest, in each case 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, any Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated in the same priority, and to the same extent, as that allocated to the Corresponding Certificates.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-4), Pooling and Servicing Agreement (Home Equity Mortgage Pass-Through Certificates, Series 2006-3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Group 1 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of Mortgage the Group 1 Loans for any Distribution Date shall be allocated first, to REMIC I Regular Interest A-I and to the REMIC I Group 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 I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 I Regular InterestInterest , and then, to REMIC I Group 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 I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Group 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Group 2 Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 I Regular Interest AA I and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC I Group 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZInterests 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 2 I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group 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 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 for any Distribution Date the REMIC II Marker Allocation Percentage of any aggregate amount of any Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated among REMIC II Regular Interests LX-XX, XX-0X, XX-0X0, XX-0X0, XX-X-0, LX-X-0, XX-X-0, XX-X-0, XX-X-0, XX-X-0, LT-M-7, LT-M-8, LT-M-9 and LT-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 2 II Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests for any Distribution Date the REMIC II Sub WAC Allocation Percentage of any aggregate amount of any Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated among REMIC II Regular Interests LT-1SUB, LT-1GRP, LT-2SUB, LT-2GRP and LT-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC II Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1), Pooling and Servicing Agreement (CSMC Asset-Backed Trust 2007-Nc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the The aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group I-1 Mortgage Loans for any Distribution Date shall be allocated to the REMIC 1A Group I-1 Regular Interests for any Distribution Date first, to REMIC I 1A Regular Interest A-I and to the REMIC I 1A Group I-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 1A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 1A Regular Interest, and then, to REMIC 1 1A Group I-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 1A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 1A Regular Interest. For purposes of calculating the The aggregate amount of Uncertificated Accrued any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group I-2 Mortgage Loans for any Distribution Date shall be allocated to the REMIC 2 1A Group I-2 Regular Interests for any Distribution DateDate first, to REMIC 1A Regular Interest II and to the REMIC 1A Group I-2 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 1A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1A Regular Interest, and then, to REMIC 1A Group I-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 1A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1A Regular Interest. The REMIC 1B Marker Allocation Percentage of the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to among REMIC 2 1B Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest LT-AA, REMIC 2 1B Regular Interest A-1LT-I1A1, REMIC 2 1B Regular Interest A-1MLT-I1A2, REMIC 2 1B Regular Interest A-1WLT-I2A1, REMIC 2 1B Regular Interest A-2ALT-I2A2, REMIC 2 1B Regular Interest A-2BLT-IM1, REMIC 2 1B Regular Interest A-2C, LT-IM2 and REMIC 2 1B Regular Interest A-2D, LT-IM3 and REMIC 2 1B Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest LT-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 1B Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such REMIC 2 1B Regular Interest. The REMIC 1B Sub WAC Allocation Percentage of the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated to the Uncertificated Accrued Interest payable to REMIC 1B Regular Interest LT-1SUB, REMIC 1B Regular Interest LT-1GRP, REMIC 1B Regular Interest LT-2SUB, REMIC 1B Regular Interest LT-2GRP and REMIC 1B Regular Interest LT-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1B Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 1B Regular Interest. The aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated among REMIC 2A Regular Interest LT-AA, REMIC 2A Regular Interest LT-II1A1, REMIC 2A Regular Interest LT-II1A2, REMIC 2A Regular Interest LT-II2A1, REMIC 2A Regular Interest LT-II2A2, REMIC 2A Regular Interest LT-IIM1, REMIC 2A Regular Interest LT-IIM2 and REMIC 2A Regular Interest LT-IIM3, REMIC 2A Regular Interest LT-IIM4, REMIC 2A Regular Interest LT-IIM5, REMIC 2A Regular Interest LT-IIM6 and REMIC 2A Regular Interest LT-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2A Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 2A Regular Interest. The aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated to the REMIC 3A Regular Interests for any Distribution Date first, to REMIC 3A Regular Interest I and to the REMIC 3A 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 3A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 3A Regular Interest, and then, to REMIC 3A 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 3A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 3A Regular Interest. Any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated among REMIC 3B Regular Interest LT-AA, REMIC 3B Regular Interest LT-IIIA1, REMIC 3B Regular Interest LT-IIIA2, REMIC 3B Regular Interest LT-IIIM1, REMIC 3B Regular Interest LT-IIIM2 and REMIC 3B Regular Interest LT-IIIPO and REMIC 3B Regular Interest LT-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 3B Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 3B Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2007-3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated the Accrued Certificate Interest for the REMIC 1 Regular Interests Class A, Class M and Class C Certificates 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 first, to REMIC I Regular Interest A-I and the Class C Certificates to the REMIC I Regular Interests ending with extent of one month's interest at the designation “B”then applicable Pass-Through Rate on the Notional Amount of each such Certificate and, thereafter, among the Class A Certificates and Class M Certificates on a pro rata basis based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Certificate Principal Balances Balance 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 InterestCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 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 for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to among REMIC 2 1 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest LT-AA, REMIC 2 1 Regular Interest A-1LT-A1, REMIC 2 1 Regular Interest A-1MLT-A2, REMIC 2 1 Regular Interest A-1WLT-A3A, REMIC 2 1 Regular Interest A-2ALT-A3B, REMIC 2 1 Regular Interest A-2BLT-M1, REMIC 2 1 Regular Interest A-2CLT-M2, REMIC 2 1 Regular Interest A-2DLT-M3, REMIC 2 1 Regular Interest M-1LT-M4, REMIC 2 1 Regular Interest M-2LT-M5, REMIC 2 1 Regular Interest, M-3Interest LT-M6, REMIC 2 1 Regular Interest M-4LT-M7, REMIC 2 1 Regular Interest M-5, LT-M8 and REMIC 2 1 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest LT-ZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such REMIC 2 1 Regular Interest. For purposes of calculating the amount of the Uncertificated Accrued Certificate 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 allocated to the Class C Certificates shall be allocated to the Class C Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the The aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans and Group II Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 1-A Regular Interest ALT-1A, REMIC 1-I A Regular Interest LT-1B, REMIC 1-A Regular Interest LT-2A, REMIC 1-A Regular Interest LT-2B and to the REMIC I 1-A Regular Interests ending with the designation “B”Interest LT-ZZ, pro rata rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 1-A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 1-A Regular Interest. The REMIC 2-A Marker Allocation Percentage of the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated among REMIC 2-A Regular Interest LT-AA, REMIC 2-A Regular Interest LT-3-A-1-1, REMIC 2-A Regular Interest LT-3-A-1-2, REMIC 2-A Regular Interest LT-3-A-2-1, REMIC 2-A Regular Interest LT-3-A-2-2, REMIC 2-A Regular Interest LT-3M1, REMIC 2-A Regular Interest LT-3M2, REMIC 2-A Regular Interest LT-3M3 and thenREMIC 2-A Regular Interest LT-3M4, to REMIC 1 2-A Regular Interests ending with the designation “A”Interest LT-ZZ, pro rata rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 2-A Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 2-A Regular Interest. For purposes The REMIC 2-A Sub WAC Allocation Percentage 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 Group III Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 2-A Regular Interest AA LT-1SUB, REMIC 2-A Regular Interest LT-1GRP, REMIC 2-A Regular Interest LT-2SUB, REMIC 2-A Regular Interest LT-2GRP and REMIC 2 2-A Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZLT-XX, pro rata rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 2-A Pass-Through Rates on the respective Uncertificated Principal Balance Balances of each such REMIC 2 2-A Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2005-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated the Accrued Certificate Interest for the REMIC 1 Regular Interests Class A, Class M and Class C Certificates 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 first, to REMIC I Regular Interest A-I and the Class C Certificates to the REMIC I Regular Interests ending with extent of one month's interest at the designation “B”then applicable Pass-Through Rate on the Notional Amount of each such Certificate and, pro rata thereafter, among the Class A Certificates and Class M Certificates on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Certificate Principal Balances Balance 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 InterestCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC 2 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 for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to among REMIC 2 1 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest LT-AA, REMIC 2 1 Regular Interest A-1LT-A1, REMIC 2 1 Regular Interest A-1MLT-A2, REMIC 2 1 Regular Interest A-1WLT-A3, REMIC 2 1 Regular Interest A-2ALT-M1, REMIC 2 1 Regular Interest A-2BLT-M2, REMIC 2 1 Regular Interest A-2CLT-M3, REMIC 2 1 Regular Interest A-2DLT-M4, REMIC 2 1 Regular Interest M-1LT-M5, REMIC 2 1 Regular Interest M-2LT-M6, REMIC 2 Regular Interest, M-3, REMIC 2 1 Regular Interest M-4, LT-M7 and REMIC 2 1 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest LT-ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 2 1 Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to
REMIC 1 Regular Interests LT-1 and LT-1PF and then to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LT-P and LT- R, pro rata based on, and in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, however, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest LT-1PF) in the order and then, priority described above and such amounts relating to the Subsequent Mortgage Loans shall be allocated 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 InterestLT-1PF. 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT-AA, REMIC 2 Regular Interest A-1MT-A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-A3, REMIC 2 Regular Interest A-2AMT-A4, REMIC 2 Regular Interest A-2BMT-A5, REMIC 2 Regular Interest A-2CMT-M1, REMIC 2 Regular Interest A-2DMT-M2, REMIC 2 Regular Interest M-1MT-B, REMIC 2 Regular Interest M-2MT-ZZ, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass Through Certificates Series 2002-2)
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LT-1, pro rata based onLT-1PF axx XX-0XX xxd then to REMIC 1 Regular Interests LT- IO, LT-P and LT-R, in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, however, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interests LT-1PF and then, REMIC 1 Regular Interest LT-2PF) in the order and priority described above and such amounts relating to the Group 1 Subsequent Mortgage Loans and Group 2 Subsequent Mortgage Loans shall be allocated to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, LT-1PF 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 InterestInterest LT-2PF, respectively . 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT- AA, REMIC 2 Regular Interest A-1MT-A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-A3, REMIC 2 Regular Interest A-2AMT-M1, REMIC 2 Regular Interest A-2BMT-M2, REMIC 2 Regular Interest A-2CMT-B, REMIC 2 Regular Interest A-2DMT-ZZ, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mor Sec Corp Series 2002-1)
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LTI-1 and LTI-1PF and then to REMIC 1 Regular Interests LTI-P and LTI-R, pro rata based on, and in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Pass- Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, and thenhowever, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to REMIC 1 Regular Interests ending with the designation “A”, pro rata based on, Interest LTI-1 and such amounts relating 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 Subsequent Mortgage Loans shall be allocated to REMIC 1 Regular InterestInterest LT-1PF. 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, first to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT-AA, REMIC 2 Regular Interest A-1MT- A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-M1, REMIC 2 Regular Interest A-2AMT-M2, REMIC 2 Regular Interest A-2BMT-B, REMIC 2 Regular Interest A-2CMT-ZZ, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Home Eq Mort Pass THR Cert Ser 2003-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 I 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 first, to REMIC I Regular Interest A-I and then, 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 Uncertificated REMIC 1 I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 I Regular Interest, and then, to REMIC 1 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 1 I Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC 1 I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 II 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 (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to among REMIC 2 II Regular Interest AA LTAA, REMIC II Regular Interest LTA1, REMIC II Regular Interest LTA2, REMIC II Regular Interest LTA3, REMIC II Regular Interest LTA4, 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 and REMIC 2 II Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest A-1, REMIC 2 Regular Interest A-1M, REMIC 2 Regular Interest A-1W, REMIC 2 Regular Interest A-2A, REMIC 2 Regular Interest A-2B, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZLTZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 II Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such REMIC 2 II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-Hf2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the The aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of Mortgage the Group 1 Loans for any Distribution Date shall be allocated first, to REMIC I 1 Regular Interest ALT-I and to the REMIC I Regular Interests ending with the designation “B”I, pro rata based on, and to the extent of, of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC 1 Regular Interest, ; and then, to REMIC 1 Regular Interests ending with the designation “A”Interest LT-IO-1 and REMIC 1 Regular Interest LT-IO-2, pro rata based on, and in each case to the extent of, of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC 1 Regular Interest. For purposes of calculating the The aggregate amount of Uncertificated Accrued any Net Prepayment Interest for Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the REMIC Group 2 Regular Interests Loans for any Distribution DateDate shall be allocated to REMIC 1 Regular Interest LT-II, to the extent of one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rate on the Uncertificated Principal Balance of such REMIC 1 Regular Interest. 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 (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest A-1MT-1A1, REMIC 2 Regular Interest A-1MMT-1A2, REMIC 2 Regular Interest A-1WMT-1A3, REMIC 2 Regular Interest A-2AMT-2A1, REMIC 2 Regular Interest A-2BMT-2A2, REMIC 2 Regular Interest A-2CMT-2A3, REMIC 2 Regular Interest A-2DMT-M1, REMIC 2 Regular Interest M-1MT-M2, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3MT-M3, REMIC 2 Regular Interest M-4MT-M4, REMIC 2 Regular Interest M-5MT-M5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7MT-M6, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-M7 and REMIC 2 Regular Interest MT-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such REMIC 2 Regular Interest.
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2006-2)
Allocation of Certain Interest Shortfalls. 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 (to the extent not covered by payments by the Subservicer or Master Servicer) 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 1 Regular Interest A1-I SUB, REMIC 1 Regular Interest 1-GRP, REMIC 1 Regular Interest 2-SUB, REMIC 1 Regular Interest 2-GRP, REMIC 1 Regular Interest 3-SUB, REMIC 1 Regular Interest 3-GRP, REMIC 1 Regular Interest 4-SUB, REMIC 1 Regular Interest 4-GRP, REMIC 1 Regular Interest 5-SUB, REMIC 1 Regular Interest 5-GRP and to the REMIC I 1 Regular Interests ending with the designation “B”Interest ZZZ, pro rata rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate 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 Balance 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, the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Subservicer or Master Servicer) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest AA, REMIC 2 Regular Interest 1-A-1, REMIC 2 Regular Interest A-1M2-A, REMIC 2 Regular Interest A-1W3-A-1, REMIC 2 Regular Interest A-2A4-A, REMIC 2 Regular Interest A-2B5-A-1, REMIC 2 Regular Interest A-2C5-A-2, REMIC 2 Regular Interest A-2D5-A-3, REMIC 2 Regular Interest M-15-A-4, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-35-A-5, REMIC 2 Regular Interest M-45-A-6, REMIC 2 Regular Interest M-55-A-7, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7B-1, REMIC 2 Regular Interest M-8B-2, REMIC 2 Regular Interest B B-3, REMIC 2 Regular Interest B-4, REMIC 2 Regular Interest B-5, REMIC 2 Regular Interest B-6 and REMIC 2 Regular Interest ZZR-III, pro rata rata, based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such REMIC 2 Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LT-1 and LT-1PF and then to REMIC 1 Regular Interests LT-P and LT-R, pro rata based on, and in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, however, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest LT-1PF) in the order and then, priority described above and such amounts relating to the Subsequent Mortgage Loans shall be allocated 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 InterestLT-1PF. 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT-AA, REMIC 2 Regular Interest A-1MT-A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-A3, REMIC 2 Regular Interest A-2AMT-A4, REMIC 2 Regular Interest A-2BMT-A5, REMIC 2 Regular Interest A-2CMT-M1, REMIC 2 Regular Interest A-2DMT-M2, REMIC 2 Regular Interest M-1MT-B, REMIC 2 Regular Interest M-2MT-ZZ, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Equity Mortgage Pass Through Certificates Series 2002-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated 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 Mortgage Loans shall be allocated first, to REMIC I Regular Interest A-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 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, the aggregate amount (net of any Net Prepayment Compensating Interest Shortfalls Payment) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Loan Group 1 Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 1 Regular Interest AA LT1A and REMIC 2 1 Regular Interest ZZ LT1F up to an aggregate amount equal to the REMIC 2 1 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 1 Regular Interest AALT1A, REMIC 2 1 Regular Interest A-1LT1B, REMIC 2 1 Regular Interest A-1MLT1C, REMIC 2 1 Regular Interest A-1WLT1D, REMIC 2 1 Regular Interest A-2A, LT1E and REMIC 2 1 Regular Interest A-2BLT1F, REMIC 2 Regular Interest A-2C, REMIC 2 Regular Interest A-2D, REMIC 2 Regular Interest M-1, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 1 Regular Interest and (ii) with respect to the Loan Group 2 Mortgage Loans first, to Uncertificated Accrued Interest payable to REMIC 1 Regular Interest LT1G and REMIC 1 Regular Interest LT1L up to an aggregate amount equal to the REMIC 2 Group II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 1 Regular Interest LT1G, REMIC 1 Regular Interest LT1H, REMIC 1 Regular Interest LT1I, REMIC 1 Regular Interest LT1J, REMIC 1 Regular Interest LT1K and REMIC 1 Regular Interest LT1L PRO RATA 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 Uncertificated REMIC 1 Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated the Accrued Certificate Interest for the REMIC 1 Regular Interests Class A, Class M and Class C Certificates 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 first, to REMIC I Regular Interest A-I and the Class C Certificates to the REMIC I Regular Interests ending with extent of one month's interest at the designation “B”then applicable Pass-Through Rate on the Notional Amount of each such Certificate and, pro rata thereafter, among the Class A Certificates and Class M Certificates on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Certificate Principal Balances Balance 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 InterestCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC 2 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 for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 1 Regular Interest LT-AA and REMIC 2 1 Regular Interest LT-ZZ up to an aggregate amount equal to the REMIC 2 1 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 1 Regular Interest LT-AA, REMIC 2 1 Regular Interest A-1LT-A1, REMIC 2 1 Regular Interest A-1MLT-A2, REMIC 2 1 Regular Interest A-1WLT- M1, REMIC 2 1 Regular Interest A-2ALT-M2, REMIC 2 1 Regular Interest A-2BLT-M3, REMIC 2 1 Regular Interest A-2CLT-M4, REMIC 2 1 Regular Interest A-2DLT-M5, REMIC 2 1 Regular Interest M-1LT-M6, REMIC 2 1 Regular Interest M-2LT-M7, REMIC 2 Regular Interest, M-3, REMIC 2 1 Regular Interest M-4, LT-M8 and REMIC 2 1 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest LT-ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 2 1 Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Homestar Mortgage Accep Corp Asst Back Certs Ser 2004-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated the Accrued Certificate Interest for the REMIC 1 Regular Interests Class A, Class M and Class C Certificates 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 first, to REMIC I Regular Interest A-I and the Class C Certificates to the REMIC I Regular Interests ending with extent of one month's interest at the designation “B”then applicable Pass-Through Rate on the Notional Amount of each such Certificate and, pro rata thereafter, among the Class A Certificates and Class M Certificates on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Certificate Principal Balances Balance 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 InterestCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC 2 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 for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to among REMIC 2 1 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest LT-AA, REMIC 2 1 Regular Interest A-1LT-A1, REMIC 2 1 Regular Interest A-1MLT-A2, REMIC 2 1 Regular Interest A-1WLT-A3, REMIC 2 1 Regular Interest A-2ALT-A4, REMIC 2 1 Regular Interest A-2BLT-M1, REMIC 2 1 Regular Interest A-2CLT-M2, REMIC 2 1 Regular Interest A-2DLT-M3, REMIC 2 1 Regular Interest M-1LT-M4, REMIC 2 1 Regular Interest M-2LT-M5, REMIC 2 1 Regular Interest, M-3Interest LT-M6, REMIC 2 1 Regular Interest M-4, LT-M7 and REMIC 2 1 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B and REMIC 2 Regular Interest LT-ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 2 1 Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LT-1 and LT-1PF and then to REMIC 1 Regular Interests LT-P and LT- R, pro rata based on, and in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, however, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest LT-1PF) in the order and then, priority described above and such amounts relating to the Subsequent Mortgage Loans shall be allocated 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 InterestLT-1PF. 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT-AA, REMIC 2 Regular Interest A-1MT-A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-A3, REMIC 2 Regular Interest A-2AMT-A4, REMIC 2 Regular Interest A-2BMT-M1, REMIC 2 Regular Interest A-2CMT-M2, REMIC 2 Regular Interest A-2DMT-B, REMIC 2 Regular Interest M-1MT-ZZ, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Home Equity Mortgage Pass Through Cert Series 2002-4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated the Accrued Certificate Interest for the REMIC 1 Regular Interests Class A, Class M and Class C Certificates 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 first, to REMIC I Regular Interest A-I and the Class C Certificates to the REMIC I Regular Interests ending with extent of one month's interest at the designation “B”then applicable Pass-Through Rate on the Notional Amount of each such Certificate and, pro rata thereafter, among the Class A Certificates and Class M Certificates on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Certificate Principal Balances Balance 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 InterestCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 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 for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to among REMIC 2 1 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest LT-AA, REMIC 2 1 Regular Interest A-1LT-A1A, REMIC 2 1 Regular Interest A-1MLT-A1B, REMIC 2 1 Regular Interest A-1WLT-A2, REMIC 2 1 Regular Interest A-2ALT-A3, REMIC 2 1 Regular Interest A-2BLT-A4, REMIC 2 1 Regular Interest A-2CLT-M1, REMIC 2 1 Regular Interest A-2DLT-M2, REMIC 2 1 Regular Interest M-1LT-M3, REMIC 2 1 Regular Interest M-2LT-M4, REMIC 2 1 Regular Interest, M-3Interest LT-M5, REMIC 2 1 Regular Interest M-4LT-M6, REMIC 2 1 Regular Interest M-5LT-M7, REMIC 2 1 Regular Interest M-6LT-M8, REMIC 2 1 Regular Interest, M-7Interest LT-M9, REMIC 2 1 Regular Interest M-8, LT-M10 and REMIC 2 1 Regular Interest B and REMIC 2 Regular Interest LT-ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC 2 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC 2 1 Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LT-1 and LT-1PF and then to REMIC 1 Regular Interests LT-P and LT- R, pro rata based on, and in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, however, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest LT-1PF) in the order and then, priority described above and such amounts relating to the Subsequent Mortgage Loans shall be allocated 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 InterestLT-1PF. 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT-AA, REMIC 2 Regular Interest A-1MT-A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-A3, REMIC 2 Regular Interest A-2AMT-M1, REMIC 2 Regular Interest A-2BMT-M2A, REMIC 2 Regular Interest A-2CMT-M2B, REMIC 2 Regular Interest A-2DMT-B, REMIC 2 Regular Interest M-1MT- ZZ, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Mort Sec Corp Home Equity Mort Trust 2002-3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1 Regular Interests for any Distribution Date, the 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 REMIC I 1 Regular Interest A-I and to the REMIC I 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, the 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 (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest AA and REMIC 2 Regular Interest ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC 2 Regular Interest LT-AA, REMIC 2 Regular Interest A-1LT-A1, REMIC 2 Regular Interest A-1MLT-A2, REMIC 2 Regular Interest A-1WLT-A3, REMIC 2 Regular Interest A-2ALT-A4, REMIC 2 Regular Interest A-2BLT-A5, REMIC 2 Regular Interest A-2CLT-M1, REMIC 2 Regular Interest A-2DLT-M2, REMIC 2 Regular Interest M-1LT-M3, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3LT-M4, REMIC 2 Regular Interest M-4LT-M5, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B LT-M6 and REMIC 2 Regular Interest LT-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC 2 Pass-Through Rates Rate on the respective Uncertificated Principal Balance of each such REMIC 2 Regular Interest.
ARTICLE II CONVEYANCE OF MORTGAGE LOANS; ORIGINAL ISSUANCE OF CERTIFICATES
Appears in 1 contract
Samples: Pooling and Servicing Agreement (American Home Mortgage Assets Trust 2007-4)
Allocation of Certain Interest Shortfalls. 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 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to REMIC I Regular Interest A-I and to the REMIC I 1 Regular Interests ending with the designation “B”LT-1 and LT-1PF and then to REMIC 1 Regular Interests LT-P and LT-R, pro rata based on, and in each case to the extent of, of one month’s 's interest at the then applicable respective Uncertificated REMIC 1 Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such Uncertificated REMIC 1 Regular Interest; provided, however, that with respect to the first three Distribution Dates, such amounts relating to the Initial Mortgage Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest LT-1PF) in the order and then, priority described above and such amounts relating to the Subsequent Mortgage Loans shall be allocated 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 InterestLT-1PF. 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 (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Mortgage Loans, first, to Uncertificated Accrued Interest payable to REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter any remaining Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for any Distribution Date shall be allocated among REMIC 2 Regular Interest Interests MT- AA, REMIC 2 Regular Interest A-1MT-A1, REMIC 2 Regular Interest A-1MMT-A2, REMIC 2 Regular Interest A-1WMT-A3, REMIC 2 Regular Interest A-2AMT-M1, REMIC 2 Regular Interest A-2BMT-M2A, REMIC 2 Regular Interest A-2CMT-M2B, REMIC 2 Regular Interest A-2DMT-B, REMIC 2 Regular Interest M-1MT-ZZ, REMIC 2 Regular Interest M-2, REMIC 2 Regular Interest, M-3, REMIC 2 Regular Interest M-4, REMIC 2 Regular Interest M-5, REMIC 2 Regular Interest M-6, REMIC 2 Regular Interest, M-7, REMIC 2 Regular Interest M-8, REMIC 2 Regular Interest B MT-R and REMIC 2 Regular Interest ZZMT-P, 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 Balance Accrued Interest, as calculated without application of each such REMIC 2 Regular Interestthis sentence.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CSFB Mort Sec Corp Home Equity Mort Trust 2002-3)