Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates 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 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 the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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. 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 Company or the 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 Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mortgage-Backed Certificates, Series 2005-7), Pooling and Servicing Agreement (Mortgage-Backed Certificates, Series 2005-7)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I- LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTAV1, REMIC I Regular Interest AI-LTAV2, REMIC I Regular Interest M-1I-LTAV3A, REMIC I Regular Interest M-2I-LTAV3B, REMIC I Regular Interest M-3I-LTAF1, REMIC I Regular Interest M-4I-LTAF2, REMIC I Regular Interest M-5I-LTAF3, REMIC I Regular Interest B-1I-LTAF4, REMIC I Regular Interest B-2I-LTAF5, REMIC I Regular Interest B-3I-LTAF6, REMIC I Regular Interest B-4 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 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest 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 REMIC I Regular Interest I-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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004-W5), Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004-W5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, Class M, Class B the Subordinate Certificates and the Class C Certificates 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 pursuant to Section 6.024.03(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 C Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Subordinate 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 Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. 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 Company or the Master ServicerServicer pursuant to Section 4.03(e)) 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 Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1M1, REMIC I Regular Interest M-2M2, REMIC I Regular Interest M-3M3, REMIC I Regular Interest M-4B1, REMIC I Regular Interest M-5B2, REMIC I Regular Interest B-1B3, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 B4 and REMIC I Regular Interest ZZ, pro rata on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.), Pooling and Servicing Agreement (GE-WMC Mortgage Securities, L.L.C.)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Floating Rate Certificates and the Class A, Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the :
(A) The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA1C, REMIC I Regular Interest I-LTA1D, 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Wfhe1, Asset-Backed Pass-Through Certificates, Series 2006-Wfhe1), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Wfhe1, Asset-Backed Pass-Through Certificates, Series 2006-Wfhe1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated 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. 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 Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, 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 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM9 and REMIC I Regular Interest ZZ, I-LTZZ pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust 2005-Nc2), Pooling and Servicing Agreement (Carrington Mortgage Loan Trust 2005-Nc2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C 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 or the Master Servicer) and any Relief Act Interest Shortfall 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 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 (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated 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 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:
(A) 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 6.023.18) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated firstamong REMIC I Regular Interest I-LTA1, to the Class C Certificates REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest I-LTZZ PRO RATA based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal 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, 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 Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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 Balance of each such REMIC I Regular Interest; and
(B) [Reserved].
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1), Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2005-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Floating Rate Certificates and the Class A, Class M, Class B and Class C CE Certificates 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 Servicers pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued 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 Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) 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 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 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
(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 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 AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZI-LTXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-He2), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-He3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, Class Mthe Mezzanine Certificates, the Class B Certificates and the Class C Certificates Interest for any Distribution Date, the aggregate amount of any Net 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, first 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 A Certificates, the Mezzanine Certificates and the Class B Certificates on a pro rata basis based on, and to the extent of, one month’s interest for the related Accrual Period at the then applicable Pass-Through respective Pass‑Through Rate on the respective Certificate Notional Principal Balance of each such Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount thereof andfor the Class C Certificates for any Distribution Date, thereafter, 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 A, Class M and Class B Certificates, in each case 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 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated:
(a) 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 AA and ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among AA, A-IA, A-IIA1, A-IIA2, A-IIA3, A-IIA4, M1, M2, M3, M4, M5, M6, M7, M8, M9, M10, B and ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Uncertificated Principal Balances Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, the aggregate amount Interest; and
(b) 50% of any Net 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 Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 2 Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount1GRP, 98% and 2%2GRP, respectively1SUB, 2SUB, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 3 Regular Interest. 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 incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated to REMIC 1 Regular Interests IX and the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated to REMIC 1 Regular Interest IIX.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-9), Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-10)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI-LTA1A, REMIC I Regular Interest AI-LTA1B, REMIC I Regular Interest M-1I-LTA2, REMIC I Regular Interest M-2I-LTA3, REMIC I Regular Interest M-3I-LTA4, REMIC I Regular Interest M-4I-LTM1, REMIC I Regular Interest M-5I-LTM2, REMIC I Regular Interest B-1I-LTM3, REMIC I Regular Interest B-2I-LTM4, REMIC I Regular Interest B-3I-LTM5, REMIC I Regular Interest B-4 I-LTM6, REMIC I Regular Interest I-LTM7 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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- LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest I-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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R4), Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc Asset Bk Pas THR Cert Se 2004 R3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. 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 Company or the Master ServicerServicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, (a) with respect to Uncertificated Accrued Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest AA I-LT1 and REMIC I Regular Interest ZZ up to an aggregate amount equal I-LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Interest Loss Allocation AmountRemittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, 98% and 2%however, respectivelywith respect to the first three Distribution Dates, and thereafter among such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AA, I-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AI-LT1PF, (b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LT2 and REMIC I Regular Interest ZZI-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 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 any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated to REMIC II Regular Interest II-LT1, REMIC II Regular Interest II-LT2 and REMIC II Regular Interest II-LT3, pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC III Regular Interests for any Distribution Date:
(A) The REMIC III 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 III 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 III Regular Interest III-LTA1A, II Regular Interest III-LTA1B, II Regular Interest III-LTA1C, II Regular Interest III-LTA1D, REMIC III Regular Interest III-LTA2A, REMIC III Regular Interest III-LTA2B, REMIC III Regular Interest III-LTA3A, REMIC III Regular Interest III-LTA3B, REMIC III Regular Interest III-LTA3C, REMIC III Regular Interest III-LTA3D, REMIC III Regular Interest III-LTA3E, REMIC III Regular Interest III-LTM1, REMIC III Regular Interest III-LTM2, REMIC III Regular Interest III-LTM3, REMIC III Regular Interest III-LTM4, REMIC III Regular Interest III-LTM5, REMIC III Regular Interest III-LTM6, REMIC III Regular Interest III-LTM7, REMIC III Regular Interest III-LTM8, REMIC III Regular Interest III-LTM9, REMIC III Regular Interest III-LTM10 and REMIC III Regular Interest III-LTZZ, on a pro rata basis based on, and to the extent of, one month's interest at the then applicable respective REMIC III Remittance Rate on the respective Uncertificated Balance of each such REMIC III Regular Interest; 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 incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC III Regular Interest 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 III-LT3GRP and REMIC III Regular Interest III-LTXX, on a pro rata basis based on, and to the extent of, one month's interest at the then applicable respective REMIC III Remittance Rate on the respective Uncertificated Balance of each such REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-Whq2), Pooling and Servicing Agreement (Park Place Securities, Inc., Asset-Backed Pass-Through Certificates, Series 2004-Whq2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Floating Rate Certificates and the Class A, Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued 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 Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) 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 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, REMIC I Regular Interest I-LTM11, REMIC I Regular Interest I-LTM12, REMIC I Regular Interest I-LTM13 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
(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 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 AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountI-LTXX, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates CE Interest based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Interest and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE Interest 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 Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI- LTAA, REMIC I Regular Interest AI-LTA, REMIC I Regular Interest M-1I-LTM1, REMIC I Regular Interest M-2I-LTM2, REMIC I Regular Interest M-3I-LTM3, REMIC I Regular Interest M-4I-LTM4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM5 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc), Pooling and Servicing Agreement (Salomon Broth Mort Sec Vii Inc Citi Hm Eq Ln Tr Se 2003-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class MM Certificates, the Class B Certificates and the Class C Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates Certificate based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate 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 Company or the Master ServicerServicer 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 Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 B-4, REMIC I Regular Interest B-5 and REMIC I Regular Interest ZZ, pro rata 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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement, Pooling and Servicing Agreement (Saco I Trust, 2005-Wm1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I- LTAA and REMIC I Regular Interest ZZ I-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 AAI-LTA1, REMIC I Regular Interest AI-LTA2, REMIC I Regular Interest M-1I- LTA3, REMIC I Regular Interest M-2I-LTA4, REMIC I Regular Interest M-3I-LTA5, REMIC I Regular Interest M-4I-LTA6, REMIC I Regular Interest M-5I-LTM1, REMIC I Regular Interest B-1I- LTM2, REMIC I Regular Interest B-2I-LTM3, REMIC I Regular Interest B-3I-LTM4, REMIC I Regular Interest B-4 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA, based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I- LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest I-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.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R7), Pooling and Servicing Agreement (Ameriquest Mortgage Securities Inc Asset-Backed Pass-Through Certificates Series 2004-R7)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Floating Rate Certificates and the Class A, Class M, Class B and Class C CE-1 Certificates for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company Servicers pursuant to Section 3.24 or the Master Servicer pursuant to Section 6.023A.10) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE-1 Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE-1 Certificates and, thereafter, among the Class A, Class M and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued 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 Shortfalls (to the extent not covered by payments by the Company Servicers pursuant to Section 3.24 or the Master ServicerServicer pursuant to Section 3A.10) 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 allocated among REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3A, REMIC I Regular Interest I-LTA3B, REMIC I Regular Interest I-LTA3C, 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 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
(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 Servicers pursuant to Section 3.24 or the Master Servicer pursuant to Section 3A.10) 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 Accrued Interest payable to REMIC I Regular Interest AA 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 REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZI-LTXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc2), Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Amc2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance 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, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or 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 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 Master ServicerServicer 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 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 first, to Uncertificated Accrued Interest payable to among REMIC I II Regular Interest AA II-LTA1A, II Regular Interest II-LTA1B, REMIC II Regular Interest II-LTA2A, REMIC II Regular Interest II-LTA2B, REMIC II Regular Interest II-LTA2C, REMIC II Regular Interest II-LTA2D, 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, REMIC II Regular Interest II-LTM12 and REMIC I II Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountII-LTZZ, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, on a pro rata basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 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 to Uncertificated Interest payable to REMIC II Regular Interest II-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, 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 2 contracts
Samples: Pooling and Servicing Agreement (Park Place Securities, Inc. Series 2005-Whq2), Pooling and Servicing Agreement (Park Place Securities, Inc. Series 2005-Whq2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates CE Interest based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Interest and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE Interest 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 Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI- LTAA, REMIC I Regular Interest AI-LTA, REMIC I Regular Interest M-1I-LTM1, REMIC I Regular Interest M-2I-LTM2, REMIC I Regular Interest M-3I-LTM3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM4 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mort Ln Tr Asst Back Ps THR Certs Ser 2003-He3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C CE Certificates based on, and to the extent of, of one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance 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, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(e)) and 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 Accrued Interest payable to REMIC I Regular Interest AA I and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC Group I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I 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 Uncertificated respective REMIC I Pass-Through 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 4.03(e)) 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 II Regular Interest II-LTA1A, II Regular Interest II-LTA1B, REMIC II Regular Interest II-LTA2A, REMIC II Regular Interest II-LTA2B, REMIC II Regular Interest II-LTA2C, REMIC II Regular Interest II- LTA2D, 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, REMIC II Regular Interest II-LTM12 and REMIC II Regular Interest II-LTZZ, 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; 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 to Uncertificated Interest payable to REMIC II Regular Interest II-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, 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
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class AGroup I Senior Certificates, Class M, Class B Group I Mezzanine Certificates and Class C I-X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 Group I Mortgage Loans for any Distribution Date shall be allocated first, first reduce the Interest Distribution Amount payable to the Class C I-M-3 Certificates, second, reduce the Interest Distribution Amount payable to the Class I-M-2 Certificates, third, reduce the Interest Distribution Amount payable to the Class I-M-1 Certificates, and fourth, reduce the Interest Distribution Amount payable to the Group I 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 Certificate Principal Balance or Certificate Notional Balance, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses on the Group I Mortgage Loans allocated to the Group I Subordinate Certificates and Net WAC Rate Carryover Amount paid to the Group I Senior Certificates and the Group I Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class I-X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Balance thereof on any Distribution Date. For purposes of calculating the amount of the Interest Remittance Amount thereof andfor the Group II Mortgage Loans for any Distribution Date, thereafter, among (1) the Class A, Class M and Class B Certificates, aggregate amount of any Net Interest Shortfalls in each case respect of the Group II Mortgage Loans for any Distribution Date shall reduce the Interest Remittance Amount on a pro rata basis based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateClass of Group II Senior Certificates and Group II Mezzanine Certificates and (2) the aggregate amount of any Realized Losses allocated to the Group II Senior Certificates and Group II Mezzanine Certificates and Basis Risk Shortfalls allocated to the Group II Senior Certificates and Group II Mezzanine Certificates for any Distribution Date shall be allocated to the Class II-X Certificates based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I IA Regular Interests for any Distribution Date, 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 Net Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I IA Regular Interest AA I and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC I IA Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I 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 I IA Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC IA Regular Interest, and then, to REMIC IA 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 IA Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC IA Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IB Regular Interests for any Distribution Date: The REMIC IB Marker Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated among REMIC IB Regular Interest LTI-AA, REMIC IB Regular Interest LIT-IA1, REMIC IB Regular Interest LTI-IA2, REMIC IB Regular Interest LTI-IA3, REMIC IB Regular Interest LTI-IA4, REMIC IB Regular Interest LTI-IM1, REMIC IB Regular Interest LTI-IM2, REMIC IB Regular Interest LTI-IM3 and REMIC IB Regular Interest LTI-IZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC IB Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IB Regular Interest. The REMIC IB SC Allocation Percentage of the aggregate amount of any Net 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 IB Regular Interest LTI-SC, REMIC IB Regular Interest LTI-NSC and REMIC IB Regular Interest LTI-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC IB Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IB Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IIA Group II-1 Regular Interests for any Distribution Date the aggregate amount of any Net Interest Shortfalls incurred in respect of the Group II-1 Mortgage Loans for any Distribution Date shall be allocated first, to REMIC IIA Regular Interest I and to the REMIC IIA Group II-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 IIA Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC IIA Regular Interest, and then, to REMIC IIA Group II-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 IIA Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC IIA Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IIA Group II-2 Regular Interests for any Distribution the aggregate amount of any Net Interest Shortfalls incurred in respect of the Group II-2 Mortgage Loans for any Distribution Date shall be allocated first, REMIC IIA Regular Interest II and to the REMIC IIA Group II-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 IIA Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC IIA Regular Interest, and then, to REMIC IIA Group II-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 IIA Pass-Through Rates on the respective Uncertificated Principal Balances of each such REMIC IIA Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IIB Regular Interests for any Distribution Date: The REMIC IIB Marker Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC IIB Regular Interest LTII-IIAA, REMIC IIB Regular Interest LTII-IA1, REMIC IIB Regular Interest LTII-IIA1A, REMIC IIB Regular Interest LTII-IIA1B, REMIC IIB Regular Interest LTII-IIA2, REMIC IIB Regular Interest LTII-IIA3, REMIC IIB Regular Interest LTII-IIA4A, REMIC IIB Regular Interest LTII-IIA4B, REMIC IIB Regular Interest LTII-IIM1, REMIC IIB Regular Interest LTII-IIM2, REMIC IIB Regular Interest LTII-IIM3, REMIC IIB Regular Interest LTII-IIM4, REMIC IIB Regular Interest LTII-IIM5, REMIC IIB Regular Interest LTII-IIM6, REMIC IIB Regular Interest LTII-IIM7, REMIC IIB Regular Interest LTII-IIM8 and REMIC IIB Regular Interest LTII-IIZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC IIB Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IIB Regular Interest. The REMIC IIB Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to the Uncertificated Accrued Interest payable to REMIC IIB Regular Interest LTII-1SUB, REMIC IIB Regular Interest LTII-1GRP, REMIC IIB Regular Interest LTII-2SUB, REMIC IIB Regular Interest LTII-2GRP and REMIC IIB Regular Interest LTII-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC IIB Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IIB Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfall 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 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 (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated 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 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:
(A) The REMIC I 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 3.24) and the REMIC I 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 firstamong REMIC I Regular Interest I-LTA1, to the Class C Certificates 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 and REMIC I Regular Interest I-LTZZ PRO RATA based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Uncertificated Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest; 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 Company or the Master ServicerServicer pursuant to Section 3.24) and the REMIC I Sub WAC 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 Accrued Interest payable to REMIC I Regular Interest AA 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 REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZI-LTXX, pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2004-Wmc2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated firstamong REMIC Regular Interest I-LTAA, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTA3A, REMIC I Regular Interest I-LTA3B, REMIC I Regular Interest I-LTA3C, REMIC I Regular Interest I-LTA3D, 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountI-LTZZ, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates Series 2005-R2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, the Class B and the Class C Certificates and Class C Interest 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates Interest based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate 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 Company or the Master ServicerServicer 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 Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest AA-1, REMIC I Regular Interest A-2, REMIC I Regular Interest A-3, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust, 2005-Wm3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 reduce the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Interest Remittance 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 Rate on the respective Certificate Principal Balances Balance of each such Certificateclass of Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated to the Class II-A-2, Class III-A-2 and Class IV-A-2 Certificates and Subordinate Certificates and Basis Risk Shortfalls allocated to the Publicly Offered Certificates for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, : The REMIC I Marker Allocation Percentage of 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 Net 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 AA and REMIC I Regular Interest 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 LTI-AA, REMIC I Regular Interest ALTI-IA, REMIC I Regular Interest M-1LTI-IIA1, REMIC I Regular Interest M-2LTI-IIA2, REMIC I Regular Interest M-3LTI-IIIA1, REMIC I Regular Interest M-4LTI-IIIA2, REMIC I Regular Interest M-5LTI-IVA1, REMIC I Regular Interest B-1LTI-IVA2, REMIC I Regular Interest B-2LTI-M1, REMIC I Regular Interest B-3LTI-M2, REMIC I Regular Interest B-4 LTI-M3, REMIC I Regular Interest LTI-M4, REMIC I Regular Interest LTI-M5 and REMIC I Regular Interest LTI-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC I Regular Interest LTI-1SUB, REMIC I Regular Interest LTI-1GRP, REMIC I Regular Interest LTI-2SUB, REMIC I Regular Interest LTI-2GRP, REMIC I Regular Interest LTI-3SUB, REMIC I Regular Interest LTI-3GRP, REMIC I Regular Interest LTI-4SUB, REMIC I Regular Interest LTI-4GRP and REMIC I Regular Interest LTI-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B 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-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 9898.00% and 22.00%, respectively, and thereafter among REMIC I Regular Interest AAA-1, REMIC I Regular Interest AA-2, REMIC I Regular Interest A-3, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1M-6, REMIC I Regular Interest B-2M-7, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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 Rates Rate on the respective Uncertificated Principal Balances Balance 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 Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-He4)
Allocation of Certain Interest Shortfalls. (a) For purposes of calculating the amount of Current Group I Interest Distribution Amount for the Class A, Class M, Class B Group I Senior Certificates and Class C the Group I Mezzanine Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (and Curtailment Interest Shortfalls with respect to any Group I Loans to the extent not covered by payments payment by the Company Servicer pursuant to the Mortgage Loan Purchase and Servicing Agreement or the Master Servicer pursuant to Section 6.023.21 shall first, reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Overcollateralization Amount on the related Distribution Date, third, reduce the Group I Interest Distribution Amount payable to each Class of Group I Mezzanine Certificates in reverse order of payment priority and fourth, reduce the Group I Interest Distribution Amount payable to the Group I Senior Certificates (on a pro rata basis based on their respective Group I Senior Interest Distribution Amounts before such reduction), (2) and any Relief Act Interest Shortfalls incurred in respect on the Group I Loans shall be allocated to the Group I Certificates on a pro rata basis based on their respective Group I Interest Distribution Amounts before such reduction, and (3) the aggregate amount of the Mortgage Loans for interest portion of Realized Losses allocated to the Group I Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Group I Senior Certificates and the Group I Mezzanine Certificates on any Distribution Date shall be allocated first, to the Class C I-CE Certificates based on, and to the extent of, one month’s interest at of the then applicable Pass-Through Rate on the Certificate Notional related Group I Interest Distribution Amount thereof and, thereafter, among the Class A, Class M and Class B Certificates, in for such Distribution Date.
(b) On 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 I Regular Interests for any Distribution Date, the aggregate amount referred to in clause (i) of any Prepayment the definition of Group II Interest Distribution Amount for each Class of Group II Certificates (other than the Principal Only Certificates) shall be reduced by the related Class’s pro rata share of Group II Net Interest Shortfalls (with respect to the extent not covered by payments by Group II Loans in the Company or the Master Servicer) and any Relief Act related Pool, based on such Class’s Group II Interest Shortfalls incurred in respect of the Mortgage Loans Distribution Amount for any such Distribution Date shall be allocated first, to Uncertificated Accrued without taking into account such Group II Net Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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 InterestShortfalls.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates CE Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Interest and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE Interest 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 Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA1C, REMIC I Regular Interest I-LTA1D, 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, I-LTZZ on a pro rata basis based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of the Accrued Certificate Interest 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 shall be allocated to the Class C Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2005-Opt3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfall 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 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 (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated 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 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:
(A) The REMIC I 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 3.24) and the REMIC I 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 firstamong REMIC I Regular Interest I-LTA1, to the Class C Certificates REMIC I Regular Interest I-LTA2, 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 PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof respective Uncertificated Balance of each such REMIC I Regular Interest; 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 incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Interest payable to REMIC I Regular Interest I-LT1SUB, thereafterREMIC I Regular Interest I- LT1GRP, among the Class AREMIC I Regular Interest I-LT2SUB, Class M REMIC I Regular Interest I- LT2GRP, REMIC I Regular Interest I-LT3SUB, REMIC I Regular Interest I- LT3GRP and Class B CertificatesREMIC I Regular Interest I-LTXX, in each case on a pro rata basis based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Uncertificated Balance of each such CertificateREMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued the Monthly Interest Distributable Amount for the REMIC I 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 ServicerServicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls Shortfall 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 AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata LT-IICE based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I Pass-Through Rates II Remittance Rate on the Uncertificated Principal Balances Notional Amount of such REMIC II Regular Interest and, thereafter, among REMIC II Regular Interest II-LTA1, 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, REMIC II Regular Interest II- LTM9 and REMIC II Regular Interest II-LTM10 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 I II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Asset Backed Securities Trust 2004-Fre1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA-1, Class MA-2, Class B A-3, Class A-4, Class A-IO, Class M-1, Class M-2, Class B-1, Class B-2 and the Class 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 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 among the 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 C Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof andBalance thereof, thereafter, among second to the Class A, Class M B-2 Certificates and Class B B-1 Certificates, in each case on a pro rata basis based onbasis, third to the M-2 Certificates, and fourth to the extent ofClass M-1 Certificates, one month’s interest at and following the then applicable respective PassCross-Through Rates Over Date to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-IO Certificates, on the respective Certificate Principal Balances of each such Certificatea pro rata basis. 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 Unpaid 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 not covered by payments by of one month's interest at the Company or then applicable respective Uncertificated REMIC I Pass-Through Rate on the Master Servicer) Uncertificated Principal Balance of each such REMIC I Regular Interest; and then, to REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest LTI-IO-B and REMIC I Regular Interest LTI- IO-C, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance 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 Relief Act Distribution Date, the aggregate amount of any Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I II Regular Interest LTII-AA and REMIC I II Regular Interest LTII-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 AALTII-A1, REMIC I II Regular Interest ALTII-A2, REMIC I II Regular Interest M-1LTII-A3, REMIC I II Regular Interest M-2LTII-A4, REMIC I II Regular Interest M-3LTII-M1, REMIC I II Regular Interest M-4LTII-M2, REMIC I II Regular Interest M-5LTII-B1, REMIC I II Regular Interest B-1LTII-B2, and REMIC I II Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II Regular Interest.. ARTICLE II
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Sec Inc Asset Bk Cert Ser 03 Ac2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the The aggregate amount of Current any Prepayment Interest for Shortfalls (to the Class A, Class M, Class B extent not covered by payments by the Master Servicer pursuant to Section 3.24) and Class C Certificates any Relief Act Interest Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Certificates (other than the Class PO Certificates), PRO RATA in accordance with, and to the extent of one month's interest at the Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount of such Certificate immediately prior to such 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 Shortfall allocated to the Class A Certificates shall be deemed allocated to REMIC I Regular Interest LT2, 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 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be Shortfall allocated first, to the Class C IO Certificates based on, and shall be deemed allocated to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest LTIO and the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect Shortfall allocated to any Class of the Mortgage Loans for any Distribution Date Subordinate Certificates shall be deemed allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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 InterestLT1.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brothers Mort Sec Vii Inc Mort Pas Th Ce Ser 2000-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfall 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 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 (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated 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 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:
(A) The REMIC I 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 3.24) and the REMIC I 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 firstamong REMIC I Regular Interest I-LTAA, to the Class C Certificates REMIC I Regular Xxxxxxxx X-XXX0, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTA4, REMIC I Regular Interest I-LTA5, 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest I-LTZZ PRO RATA based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Uncertificated Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest; 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 Company or the Master ServicerServicer pursuant to Section 3.24) and the REMIC I Sub WAC 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 Accrued Interest payable to REMIC I Regular Interest AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZI-LTXX, pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Accrued Certificate Interest for the Group I-II Certificates (other than the Class AII-X, Class M, Class B P and Class C Certificates R Certificates) 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 pursuant to Section 6.02this Agreement) and any shortfalls resulting from application of the Relief Act Interest Shortfalls incurred in respect of the Group I-II Mortgage Loans for any Distribution Date shall be allocated first, among the Classes of Group I-II Certificates in proportion to the Class C Certificates based onrespective amounts of Accrued Certificate Interest that would have been allocated thereto in the absence of such interest shortfalls. For purposes of calculating the amount of the Interest Remittance Amount for any Distribution Date, and to (1) the extent of, one month’s interest at aggregate amount of any Net Interest Shortfalls in respect of the then applicable Pass-Through Rate on Group III Mortgage Loans for any Distribution Date shall reduce the Certificate Notional Interest Remittance 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 Rate on the respective Certificate Principal Balances Balance of each class of Group III Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated to the Class III-A-2 and Mezzanine Certificates and Basis Risk Shortfalls allocated to the Group III Publicly Offered Certificates for any Distribution Date shall be allocated to the Class III-X Certificates based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IA Regular Interests for any Distribution Date: The aggregate amount of any Net Interest Shortfalls incurred in respect of the Group I-II Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC IA Regular Interest LTI-1SUB, REMIC IA Regular Interest LTI-1GRP, REMIC IA Regular Interest LTI-2SUB, REMIC IA Regular Interest LTI-2GRP and REMIC IA Regular Interest LTI-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC IA Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IA Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IB Regular Interests for any Distribution Date: The aggregate amount of any Net Interest Shortfalls incurred in respect of the Group I-II Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest each REMIC IB Regular Interest in the same manner and priority as such amounts are allocated to the Corresponding Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I IIA Regular Interests for any Distribution Date, the : 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 Net Interest Shortfalls incurred in respect of the Group III Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to among REMIC I IIA Regular Interest AA and REMIC I Regular Interest 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 LTII-AA, REMIC I IIA Regular Interest ALTII-IIIA1, REMIC I IIA Regular Interest M-1LTII-IIIA2, REMIC I IIA Regular Interest M-2LTII-IIIM1, REMIC I IIA Regular Interest M-3LTII-IIIM2, REMIC I IIA Regular Interest M-4LTII-IIIM3, REMIC I IIA Regular Interest M-5LTII-IIIM4, REMIC I IIA Regular Interest B-1, LTII-IIIM5 and REMIC I IIA Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I IIA Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I IIA Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. 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 Company or the Master ServicerServicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, (a) with respect to Uncertificated Accrued Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest AA I-LT1 and REMIC I Regular Interest ZZ up to an aggregate amount equal I-LT1PF, in each case to the extent of one month's interest at the then applicable respective REMIC I Interest Loss Allocation AmountRemittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, 98% and 2%however, respectivelywith respect to the first three Distribution Dates, and thereafter among such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AA, I-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AI-LT1PF, and (b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LT2 and REMIC I Regular Interest ZZI-LT2PF, pro rata 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. 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 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 and REMIC II Regular Interest II-LTZZ, on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 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 to Uncertificated Interest payable to REMIC II Regular Interest II-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, 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 (Asset-Backed Pass-Through Certificates, Series 2004-R12)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates for any Distribution Date, the 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 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in a Collateral Pool for any Distribution Date shall be allocated first, to among the Class C related Certificates based onpro rata in accordance with, and to the extent of, of one month’s interest at the then applicable Pass-Pass Through Rate on the respective Certificate Principal Balance or Notional Amount thereof andof such Certificate immediately prior to such 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 in Collateral Pool 1 for any Distribution Date shall be allocated to Uncertificated Interest payable to each REMIC I-A Regular Interest, thereafterpro rata, 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 PassREMIC I-Through Rates A Remittance Rate on the respective Certificate Principal Balances Uncertificated Balance of each such CertificateREMIC I-A Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in Collateral Pool 1 for any Distribution Date shall be allocated first, in the same manner and priority as such amounts are allocated to the Corresponding Certificates. 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 in Collateral Pool 2 for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to each REMIC I II-A Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZInterest, pro rata rata, based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I PassII-Through Rates A Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II-A Regular Interest. 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 in Collateral Pool 2 for any Distribution Date shall be allocated in the same manner and priority as such amounts are allocated to the Corresponding Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Ar5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, Class Mthe Mezzanine Certificates, the Class B Certificates and the Class C Certificates Interest for any Distribution Date, the aggregate amount of any Net 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, first 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 A Certificates, the Mezzanine Certificates and the Class B Certificates on a pro rata basis based on, and to the extent of, one month’s interest for the related Accrual Period at the then applicable Pass-Through respective Pass‑Through Rate on the respective Certificate Notional Principal Balance of each such Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount thereof andfor the Class C Certificates for any Distribution Date, thereafter, 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 A, Class M and Class B Certificates, in each case 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 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated:
(a) 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 AA and ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among AA, A-IA, A-IIA1, A-IIA2, A-IIA3, A-IIA4, M1, M2, M3, M4, M5, M6, M7, M8, M9, M10, B1, B2 and ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Uncertificated Principal Balances Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, the aggregate amount Interest; and
(b) 50% of any Net 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 Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 2 Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount1GRP, 98% and 2%2GRP, respectively1SUB, 2SUB, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 3 Regular Interest. 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 incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated to REMIC 1 Regular Interests IX and the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated to REMIC 1 Regular Interest IIX.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate respective Notional Amount thereof of each such Certificate and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance 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 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 respective Notional Amount of each such Certificate. 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 Company or the Master ServicerServicer 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI-LTA1, REMIC I Regular Interest AI-LTA2, REMIC I Regular Interest M-1I-LTM1, REMIC I Regular Interest M-2I-LTM2, REMIC I Regular Interest M-3I-LTM3, REMIC I Regular Interest M-4I-LTM4, REMIC I Regular Interest M-5I-LTM5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM6 and REMIC I Regular Interest ZZ, pro rata I- LTZZ (to the extent of the REMIC I Overcollateralized Amount) PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mortgage Asset Sec Trans Inc Mort Pas THR Cer Ser 2002-Opt1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates CE Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Interest and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE Interest 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 Interest. For purposes of calculating the amount of Uncertificated Accrued 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 Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer 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 among REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA2, 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, REMIC I Regular Interest I-LTM11, REMIC I Regular Interest I-LTM12, REMIC I Regular Interest I-LTM13 and REMIC II Regular Interest II-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. For purposes of calculating the amount of Accrued Certificate Interest for the Class CE Certificates for any Distribution Date, the aggregate of any Net Prepayment Interest Shortfalls and any Relief Act Shortfalls allocated to the Class CE Interest shall be allocated to the Class CE Certificates; 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 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 AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountII-LTXX, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, on a pro rata basis based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2005-Opt4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Class A-IO Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master Servicer Servicers pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B Certificates, in each case 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, the Class A-IO 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 Rates Rate on the respective Certificate Principal Balances 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 Certificates on a PRO 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 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 ServicerServicers pursuant to Section 3.24) and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to REMIC I Regular Interest I-LT1 and REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTAIO1 and REMIC I Regular Interest I-LTAIO2, 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:
(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 Servicers pursuant to Section 3.24) and 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 Accrued Interest payable to REMIC I II Regular Interest AA II-LTAA and REMIC I II Regular Interest ZZ II-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 AAII- LTA1, REMIC I II Regular Interest AII-LTA2, REMIC I II Regular Interest M-1II-LTM1, REMIC I II Regular Interest M-2II-LTM2, REMIC I II Regular Interest M-3II-LTM3, REMIC I II Regular Interest M-4, II-LTM4 and REMIC I II Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata II-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 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 Servicers pursuant to Section 3.24) and the REMIC II Sub WAC 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 REMIC II Regular Interest II-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 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 Mort Sec Inc Home Equity Loan Tr Ser 2003 2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class ASenior Certificates, Class M, Class B Mezzanine Certificates and Class C X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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, first reduce the Interest Distribution Amount payable to the Class C 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 Certificate Principal Balance or Certificate Notional Balance, 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 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 to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount Balance 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 Certificateany Distribution Date. 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 Company or the Master Servicer) and 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, to the extent of one month’s interest at the then applicable respective Uncertificated Accrued 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 AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest M-1LTI-IO-B, REMIC I Regular Interest M-2LTI-IO-C, REMIC I Regular Interest M-3LTI-IO-D, REMIC I Regular Interest M-4LTI-IO-E, REMIC I Regular Interest M-5LTI-IO-F, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 LTI-IO-G and REMIC I Regular Interest LTI-IO-H, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance 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 Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-A1, REMIC II Regular Interest LTII-A2, REMIC II Regular Interest LTII-A3, REMIC II Regular Interest LTII-A4, REMIC II Regular Interest LTII-A5, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII-M2, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rates Rate on the respective Uncertificated Principal Balances Princip al Balance of each such REMIC I II Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTA1, REMIC I Regular Interest AI-LTA2, REMIC I Regular Interest M-1I-LTM1, REMIC I Regular Interest M-2I-LTM2, REMIC I Regular Interest M-3I-LTM3, REMIC I Regular Interest M-4I-LTM4, REMIC I Regular Interest M-5I-LTM5, REMIC I Regular Interest B-1I-LTM6, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM7 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I- LT2GRP and REMIC I Regular Interest I-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.
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Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class ASenior Certificates, Class M, Class B Mezzanine Certificates and Class C X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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, first reduce the Interest Distribution Amount payable to the Class C 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 Certificate Principal Balance or Certificate Notional Balance, 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 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 to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount Balance 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 Certificateany Distribution Date. 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 Company or the Master Servicer) and 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, to the extent of one month’s interest at the then applicable respective Uncertificated Accrued 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 AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest M-1LTI-IO-B, REMIC I Regular Interest M-2LTI-IO-C, REMIC I Regular Interest M-3LTI-IO-D, REMIC I Regular Interest M-4LTI-IO-E, REMIC I Regular Interest M-5LTI-IO-F, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 LTI-IO-G and REMIC I Regular Interest LTI-IO-H, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance 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 Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-A1, REMIC II Regular Interest LTII-A2, REMIC II Regular Interest LTII-A3, REMIC II Regular Interest LTII-A4, REMIC II Regular Interest LTII-A5, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII-M2, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II Regular Interest.
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Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. 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 Company or the Master ServicerServicer pursuant to Section 4.03(e)) 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI-LTA1, REMIC I Regular Interest AI-LTA2, REMIC I Regular Interest M-1I-LTA3, REMIC I Regular Interest M-2I-LTA4, REMIC I Regular Interest M-3I-LTA5, REMIC I Regular Interest M-4I-LTA6, REMIC I Regular Interest M-5I- LTA7, REMIC I Regular Interest B-1I-LTM1, REMIC I Regular Interest B-2I-LTM2, REMIC I Regular Interest B-3I-LTM3, REMIC I Regular Interest B-4 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 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
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Samples: Pooling and Servicing Agreement (Ameriquest Mortgage Sec Inc as Bk Pas THR Cers Ser 2004 Fr1)
Allocation of Certain Interest Shortfalls. [For purposes of calculating the amount of Current Group I Interest Distribution Amount for the Group I Senior Certificates, the Group I Mezzanine Certificates and the Class A, Class M, Class B and Class C I-CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (and Curtailment Interest Shortfalls to the extent not covered by payments payment by the Company related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 6.023.21 shall first, reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Overcollateralization Amount on the related Distribution Date, third, reduce the Group I Interest Distribution Amount payable to each Class of Group I Mezzanine Certificates in reverse order of payment priority and fourth, reduce the Group I Interest Distribution Amount payable to the Group I Senior Certificates (on a pro rata basis based on their respective Group I Senior Interest Distribution Amounts before such reduction), (2) and any Relief Act Interest Shortfalls incurred in respect on the Group I Loans shall be allocated to the Certificates on a pro rata basis based on their respective Group I Interest Distribution Amounts before such reduction, and (3) the aggregate amount of the Mortgage Loans for interest portion of Realized Losses allocated to the Group I Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Group I Senior Certificates and the Group I Mezzanine Certificates on any Distribution Date shall be allocated first, to the Class C I-CE Certificates based on, and to the extent of, one month’s interest at of the then applicable Pass-Through Rate on the Certificate Notional related Group I Interest Distribution 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 for such Certificate. 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 Company or the 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 Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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.] [Group II] ARTICLE II CONVEYANCE OF TRUST FUND; ORIGINAL ISSUANCE OF CERTIFICATES
Appears in 1 contract
Samples: Pooling and Servicing Agreement
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C Certificates CE Certificates, based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof andof such Certificates, and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates on the respective Certificate Principal 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, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, (a) with respect to Uncertificated Accrued Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest AA I-LT1 and REMIC I Regular Interest ZZ up to an aggregate amount equal I-LT1PF, in each case to the extent of one month’s interest at the then applicable respective REMIC I Interest Loss Allocation AmountRemittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, 98% and 2%however, respectivelywith respect to the first three Distribution Dates, and thereafter among such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AA, I-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AI-LT1PF, (b) with respect to the Group I Mortgage Loans, to REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LT2 and REMIC I Regular Interest ZZI-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 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 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 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group I shall be allocated first, 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 Uncertificated respective REMIC I Pass-Through II Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest, and then, 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 REMIC II Remittance Rates on the respective Uncertificated Balances of each such REMIC II Regular Interest.. For purposes of calculating the amount of Uncertificated 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 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, 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 REMIC II Remittance Rates on the respective Uncertificated Balances of each such REMIC II Regular Interest, and then, 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 REMIC II Remittance Rates on the respective Uncertificated Balances of each such REMIC II Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II 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 II 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 II Remittance Rates on the respective Uncertificated Balances of each such REMIC II Regular Interest, and then, to REMIC II 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 II Remittance Rates on the respective Uncertificated Balances 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:
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Park Place Securities, Inc. Series 2005-Wcw1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the :
(A) The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(e)) 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTA, REMIC I Regular Interest AI-LTM1, REMIC I Regular Interest M-1I-LTM2, REMIC I Regular Interest M-2I-LTM3, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM4 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and
(B) [reserved].
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Asset Bcked Pass Through Certs Ser 2004-W4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated 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. 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 Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Xxxxxxxx X-XXX0, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, I-LTZZ pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2005-Nc5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B 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-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AAI-A-1, REMIC I Regular Interest I-A-2, REMIC I Regular Interest II-A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1M-6, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 M-7 and REMIC I 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 I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest;
(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 5.02) 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 to Uncertificated Accrued Interest payable to REMIC I Regular Interest 1A, REMIC I Regular Interest 1B, REMIC I Regular Interest 2A, REMIC I Regular Interest 2B and REMIC I Regular Interest XX, PRO RATA, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest; and
(c) 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 allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated 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. 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 Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-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-LTA5, 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 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, I-LTZZ pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Fre2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Group V Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 Group V Mortgage Loans for any Distribution Date shall reduce the Group V Interest Remittance Amount on a PRO 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 (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Basis Risk Shortfalls allocated to the Group V Senior Certificates (other than the Class V-X Certificates) and the Mezzanine Certificates for any Distribution Date shall be allocated first, to the Class C V-X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances of each such CertificateBalance 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, 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 Net Interest Shortfalls incurred in respect of the Group I-IV Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to among REMIC I Regular Interest AA interest LTI-ISUB, REMIC I Regular interest LTI-IGRP, REMIC I Regular interest LTI-IISUB, REMIC I Regular interest LTI-IIGRP, REMIC I Regular interest LTI-IIISUB, REMIC I Regular interest LTI-IIIGRP, REMIC I Regular interest LTI-IVSUB, REMIC I Regular interest LTI-IVGRP and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest interest LTI-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 Rates Rate on the respective Uncertificated Principal Balances Balance 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 Net Interest Shortfalls incurred in respect of the Group V Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular interest LTII-VA and REMIC II Regular interest LTII-VB, 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. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III Group V Regular Interests for any Distribution Date: The REMIC III Marker Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Group V Mortgage Loans for any Distribution Date shall be allocated among REMIC III Regular Interest LTIII-VA1, REMIC III Regular Interest LTIII-VA2, REMIC III Regular Interest LTIII-VA3, REMIC III Regular Interest LTIII-VA4, REMIC III Regular Interest LTIII-VA5, REMIC III Regular Interest LTIII-VM1, REMIC III Regular Interest LTIII-VM2, REMIC III Regular Interest LTIII-VM3 and REMIC III Regular Interest LTIII-VZZ, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III Regular Interest; and The REMIC III Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Group V Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC III Regular Interest LTIII-VSUBA, REMIC III Regular Interest LTIII-VGRPA, REMIC III Regular Interest LTIII-VSUBB, REMIC III Regular Interest LTIII-VGRPB, and REMIC III Regular Interest LTIII-VXX, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC III Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B 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-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AAI-A-1, REMIC I Regular Interest I-A-2, REMIC I Regular Interest II-A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1M-6, REMIC I Regular Interest B-2M-7, REMIC I Regular Interest B-3M-8A, REMIC I Regular Interest B-4 M-8B and REMIC I 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 I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest;
(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 5.02) 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 to Uncertificated Accrued Interest payable to REMIC I Regular Interest 1A, REMIC I Regular Interest 1B, REMIC I Regular Interest 2A, REMIC I Regular Interest 2B and REMIC I Regular Interest XX, PRO RATA, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest; and
(c) 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 allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Fr2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B 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-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AAI-A-1, REMIC I Regular Interest I-A-2, REMIC I Regular Interest I-A-3, REMIC I Regular Interest II-A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1M-6, REMIC I Regular Interest B-2M-7A, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 M-7B and REMIC I 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 I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest;
(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 5.02) 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 to Uncertificated Accrued Interest payable to REMIC I Regular Interest 1A, REMIC I Regular Interest 1B, REMIC I Regular Interest 2A, REMIC I Regular Interest 2B and REMIC I Regular Interest XX, PRO RATA, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest; and
(c) 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 allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He7)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I- LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTA1, REMIC I Regular Interest AI-LTA2, REMIC I Regular Interest M-1I- LTA3, REMIC I Regular Interest M-2I-LTA4, REMIC I Regular Interest M-3I-LTA5, REMIC I Regular Interest M-4I-LTM1, REMIC I Regular Interest M-5I-LTM2, REMIC I Regular Interest B-1I- LTM3, REMIC I Regular Interest B-2I-LTM4, REMIC I Regular Interest B-3I-LTM5, REMIC I Regular Interest B-4 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, REMIC I Regular Interest I-LTM11 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I- LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest I-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.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the The aggregate amount of Current any Prepayment Interest for Shortfalls (to the Class A, Class M, Class B extent not covered by payments by the Master Servicer pursuant to Section 3.24) and Class C Certificates any Relief Act Interest Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among the Certificates (other than the Class PO Certificates and the Class B-6PO Certificates), PRO RATA in accordance with, and to the extent of one month's interest at the Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount of such Certificate immediately prior to such 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 Shortfall allocated to the Class B-6IO Certificates shall be deemed allocated to REMIC I Regular Interest LT2, 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 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be Shortfall allocated first, to the Class C IO Certificates based on, and shall be deemed allocated to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest LTIO and the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect Shortfall allocated to any other Class of the Mortgage Loans for any Distribution Date Regular Certificates shall be deemed allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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 InterestLT1.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Brothers MRT Sec Vii Inc MRT Ps THR Cert 1999-2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C Certificates CE Certificates, based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof andof such Certificates, and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates on the respective Certificate Principal 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, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, (a) with respect to Uncertificated Accrued Interest payable the Group I Mortgage Loans, to REMIC I Regular Interest AA I-LT1 and REMIC I Regular Interest ZZ up to an aggregate amount equal I-LT1PF, in each case to the extent of one month’s interest at the then applicable respective REMIC I Interest Loss Allocation AmountRemittance Rate on the respective Uncertificated Balance of each such REMIC I Regular Interest; provided, 98% and 2%however, respectivelywith respect to the first three Distribution Dates, and thereafter among such amounts relating to the Initial Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AA, I-LT1 and such amounts relating to the Subsequent Group I Mortgage Loans shall be allocated to REMIC I Regular Interest AI-LT1PF and (b) with respect to the Group II Mortgage Loans, to REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LT2 and REMIC I Regular Interest ZZI-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 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 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group I shall be allocated first, to REMIC II Regular Interest I and to the 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 Uncertificated respective REMIC I Pass-Through II Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest, and then, 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 REMIC II Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest.. For purposes of calculating the amount of Uncertificated 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 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of Loan Group II shall be allocated first, to REMIC II Regular Interest II and to the 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 REMIC II Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC II Regular Interest , and then, 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 REMIC II Remittance Rates on the respective Uncertificated Principal Balances 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:
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated 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. 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 Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA1C1, REMIC I Regular Interest I-LTA1C2, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, 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 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM9 and REMIC I Regular Interest ZZ, I-LTZZ pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2005-Nc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA-1, Class MA-2, Class A-3, Claxx X-0, Xxxxx M-2, Class B and Class 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 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, 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 C Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof andBalance thereof, thereafter, among second to the Class A, Class M and Class B Certificates, in each case third to the Class M-2 Certificates, and fourth to the Class M-1 Certificates, and following the Cross-Over Date 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 Rates on the respective Certificate Principal Balances of each such Certificatebasis. 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 Company or the Master Servicer) and 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 Regular Interest AA and REMIC I Regular Interest 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 AAA-1, REMIC I Regular Interest AA-2, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 B and REMIC I Regular Interest ZZ, pro rata rata, based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance 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 Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first to REMIC II Regular Interest C, and then, pro rata, to REMIC II Regular Interest A- 1, REMIC II Regular Interest A-2, REMIC II Regular Interest M-1, REMIC II Regular Interest M- 2 and REMIC II Regular Interest B, in each case 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. ARTICLE II
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Trust 2004 Ac1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class ASenior Certificates, Class M, Class B Mezzanine Certificates and Class 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 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 shall first reduce the Interest Distribution Amount payable to the Class 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 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 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 first, to the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances of each such CertificateBalance 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, the aggregate amount of any Prepayment 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 not covered by payments by of one month's interest at the Company or then applicable respective Uncertificated REMIC I Pass-Through Rate on the Master Servicer) Uncertificated Principal Balance of each such REMIC I Regular Interest; and then, to REMIC I Regular Interest LTI-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 LTI-IO-H, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance 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 Relief Act Distribution Date, the aggregate amount of any Net 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 LTII-AA and REMIC I II Regular Interest LTII-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 AALTII-A1, REMIC I II Regular Interest ALTII-A2, REMIC I II Regular Interest M-1LTII-A3A, REMIC I II Regular Interest M-2LTII-A3B, REMIC I II Regular Interest M-3LTII-A4, REMIC I II Regular Interest M-4LTII-A5, REMIC I II Regular Interest M-5LTII-A6, REMIC I II Regular Interest B-1LTII-M1, REMIC I II Regular Interest B-2LTII-M2, REMIC I II Regular Interest B-3, LTII-M3 and REMIC I II Regular Interest B-4 and REMIC I Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II Regular Interest.. ARTICLE II
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Nomura Asset Acc Corp ALT LN TR Ser 2004-Ap2)
Allocation of Certain Interest Shortfalls. (a) For purposes of calculating the amount of Current Group I Interest Distribution Amount for the Group I Senior Certificates, the Group I Mezzanine Certificates and the Class A, Class M, Class B and Class C I-CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (and Curtailment Interest Shortfalls with respect to any Group I Loans to the extent not covered by payments payment by the Company Servicer pursuant to the Purchase and Servicing Agreement or the Master Servicer pursuant to Section 6.023.21 shall first, reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Overcollateralization Amount on the related Distribution Date, third, reduce the Group I Interest Distribution Amount payable to each Class of Group I Mezzanine Certificates in reverse order of payment priority and fourth, reduce the Group I Interest Distribution Amount payable to the Group I Senior Certificates (on a pro rata basis based on their respective Group I Senior Interest Distribution Amounts before such reduction), (2) and any Relief Act Interest Shortfalls incurred in respect on the Group I Loans shall be allocated to the Group I Certificates on a pro rata basis based on their respective Group I Interest Distribution Amounts before such reduction, and (3) the aggregate amount of the Mortgage Loans for interest portion of Realized Losses allocated to the Group I Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Group I Senior Certificates and the Group I Mezzanine Certificates on any Distribution Date shall be allocated first, to the Class C I-CE Certificates based on, and to the extent of, one month’s interest at of the then applicable Pass-Through Rate on the Certificate Notional related Group I Interest Distribution Amount thereof and, thereafter, among the Class A, Class M and Class B Certificates, in for such Distribution Date.
(b) On 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 I Regular Interests for any Distribution Date, the aggregate amount referred to in clause (i) of any Prepayment the definition of Group II Interest Distribution Amount for each Class of Group II Certificates (other than the Principal Only Certificates) shall be reduced by the related Class’s pro rata share of Group II Net Interest Shortfalls (with respect to the extent not covered by payments by Group II Loans in the Company or the Master Servicer) and any Relief Act related Loan Subgroup, based on such Class’s Group II Interest Shortfalls incurred in respect of the Mortgage Loans Distribution Amount for any such Distribution Date shall be allocated first, to Uncertificated Accrued without taking into account such Group II Net Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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 InterestShortfalls.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (PHH Alternative Mortgage Trust, Series 2007-1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AI-A Certificates, the Class MI-S Certificates, Class B the Group I Mezzanine Components and Class C Certificates REMIC 3 Uncertificated Regular Interest LT3-IC for any Distribution Date, (1) the aggregate amount of any Net 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 Group I Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates based on, and REMIC 3 Uncertificated Regular Interest LT3-IC to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of such Regular Interest and, thereafter, among the Class A, Class M and Class B I-A Certificates, in each case the Class I-S Certificates and the Group I Mezzanine Components on a 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 Rates Rate on the respective Certificate Principal Balances Balance or Notional Amount of each such Certificate or the respective Component Principal Balance of each such Component and (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred in respect of Group I Mortgage Loans for any Distribution Date shall be allocated to REMIC 3 Uncertificated Regular Interest LT3-IC to the extent of, interest for the related Accrual Period at the then applicable Pass-Through Rate on the Notional Amount of such Regular Interest. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class II-A Certificates, the Class II-S Certificates, the Class II-M1 Certificates, the Group II Mezzanine Components and REMIC 3 Uncertificated Regular Interest LT3-IIC 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 Group II Mortgage Loans for any Distribution Date shall be allocated first, to REMIC 3 Uncertificated Regular Interest LT3-IIC to the extent of one month's interest at the then applicable Pass-Through Rate on the Notional Amount of such Regular Interest and, thereafter, among the Class II-A Certificates, the Class II-S Certificates, the Class II-M1 Certificates, and the Group II Mezzanine Components on a pro rata basis based on, and to the extent of, interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount of each such Certificate or the respective Component Principal Balance of each such Component and (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated to REMIC 3 Uncertificated Regular Interest LT3-IIC to the extent of interest for the related Accrual Period at the then applicable Pass-Through Rate on the Notional Amount of such Regular Interest. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class I-C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to REMIC 3 Uncertificated Regular Interest LT3-IC pursuant to the paragraphs above shall be allocated among the Class I-C Certificates on a pro rata basis based on one month's interest at the then applicable Pass-Through Rate on the Notional Amount of each such Certificate, and (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts allocated to REMIC 3 Uncertificated Regular Interest LT3-IC pursuant to the paragraphs above shall be allocated among the Class I-C Certificates on a pro rata basis based on interest for the related Accrual Period at the then applicable Pass-Through Rate on the Notional Amount of each such Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class II-C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to REMIC 3 Uncertificated Regular Interest LT3-IIC pursuant to the paragraphs above shall be allocated among the Class II-C Certificates on a pro rata basis based on one month's interest at the then applicable Pass-Through Rate on the Notional Amount of each such Certificate, and (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts allocated to REMIC 3 Uncertificated Regular Interest LT3-IIC pursuant to the paragraphs above shall be allocated among the Class II-C Certificates on a pro rata basis based on interest for the related Accrual Period at the then applicable Pass-Through Rate on the Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC I 0A Regular Interests for any Distribution Date, the aggregate amount of any Net 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 Mortgage Loans for any Distribution Date shall be allocated to REMIC 0A Regular Interest LT0A-1 and REMIC 0A Regular Interest LT0A-2, pro rata based on, and to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 0A Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 0A Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertified REMIC 0B 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 II Mortgage Loans for any Distribution Date shall be allocated to REMIC 0B Regular Interest LT0B-1 and REMIC 0B Regular Interest LT0B-2, pro rata based on, and to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 0B Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 0B Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC 1A 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 I Mortgage Loans for any Distribution Date shall be allocated first to REMIC 1A Regular Interest LT1A-1 and then pro rata to REMIC 1A Regular Interest LT1A-2 and REMIC 1A Regular Interest LT1A-3, in each case to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 1A Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 1A Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertified REMIC 1B 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 II Mortgage Loans for any Distribution Date shall be allocated first to REMIC 1B Regular Interest LT1B-1 and then pro rata to REMIC 1B Regular Interest LT1B-2 and REMIC 1B Regular Interest LT1B-3, in each case to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 1B Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 1B 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 Group I Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable pro rata to REMIC I 2 Regular Interest AA LT2A-1 and REMIC I 2 Regular Interest ZZ LT2E-1, up to an aggregate amount equal to the REMIC 2 Group I Interest Loss Allocation Amount, with allocations between REMIC 2 Regular Interest LT2A-1 and REMIC 2 Regular Interest LT2E-1 being made 98% and 2%, respectively. Thereafter, 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 pro rata among REMIC 2 Regular Interest LT2A-1, REMIC 2 Regular Interest LT2B-1, REMIC 2 Regular Interest LT2C-1, REMIC 2 Regular Interest LT2D-1, REMIC 2 Regular Interest LT2E-1, REMIC 2 Regular Interest LT2S-1A, REMIC 2 Regular Interest LT2S-1B, REMIC 2 Regular Interest LT2S-1C, and thereafter among REMIC I 2 Regular Interest AALT2S-1D. 77 For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 2 Regular Interests for any Distribution Date, REMIC I Regular the aggregate amount of any Net Prepayment Interest A, REMIC I Regular Shortfalls and any Relief Act Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZShortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated first, pro rata based onto REMIC 2 Regular Interest LT2A-2 and REMIC 2 Regular Interest LT2H-2, up to an aggregate amount equal to the REMIC 2 Group II Interest Loss Allocation Amount, with allocations between REMIC 2 Regular Interest LT2A-2 and REMIC 2 Regular Interest LT2H-2 being made 98% and 2%, respectively. Thereafter, 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 pro rata among REMIC 2 Regular Interest LT2A-2, REMIC 2 Regular Interest LT2B-2, REMIC 2 Regular Interest LT2C-2, REMIC 2 Regular Interest LT2D-2, REMIC 2 Regular Interest LT2E-2, REMIC 2 Regular Interest LT2F-2, REMIC 2 Regular Interest LT2G-2, REMIC 2 Regular Interest LT2H-2, REMIC 2 Regular Interest LT2S-2A, REMIC 2 Regular Interest LT2S-2B, REMIC 2 Regular Interest LT2S-2C, and to REMIC 2 Regular Interest LT2S-2D. For purposes of the extent ofpreceding six paragraphs, one month’s pro rata allocations shall be based on interest for the related Accrual Period at the then applicable respective Uncertificated REMIC I 2 Pass-Through Rates Rate, Uncertificated REMIC 0A Pass-Through Rate, Uncertificated REMIC 0B Pass-Through Rate, Uncertificated REMIC 1A Pass-Through Rate or Uncertificated REMIC 1B Pass-Through Rate on the respective Uncertificated Principal Balances Balance or Uncertificated Notional Amount of each such Uncertificated REMIC I 2 Regular Interest, Uncertificated REMIC 0A Regular Interest, Uncertificated REMIC 0B Regular Interest, Uncertificated REMIC 1A Regular Interest or Uncertificated REMIC 1B Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mort Loan Tr 2001-4 as Bk Cert Ser 2001-4)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or Master Servicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfall 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 to the extent of one month's interest at the applicable Pass-Through Rate on the Notional Amount of 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. For purposes of calculating the amount 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 Shortfalls (to the extent not covered by payments by the Master Servicer pursuant to Section 6.024.03(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 allocated firstamong REMIC I Regular Interest I-LTA1, to the Class C Certificates 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 and REMIC I Regular Interest I-LTZZ, PRO RATA, based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates REMIC I Remittance Rate on the respective Certificate Principal Balances Uncertificated Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest; 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 Company or the Master ServicerServicer 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 Accrued Interest payable to REMIC I Regular Interest AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountI-LTXX, 98% and 2%PRO RATA, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the :
(A) The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(e)) 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTA1, REMIC I Regular Interest AI-LTA2, REMIC I Regular Interest M-1I-LTA3, REMIC I Regular Interest M-2I-LTM1, REMIC I Regular Interest M-3I-LTM2, REMIC I Regular Interest M-4I-LTM3, REMIC I Regular Interest M-5I-LTM4, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM5 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and
(B) [reserved].
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004 W3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 reduce the Interest Remittance Amount on a PRO 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 class of Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated first, to the Class C III-A-3 Certificates and Subordinate Certificates and Basis Risk Shortfalls allocated to the -42- Publicly Offered Certificates for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances of each such CertificateBalance 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, : The REMIC I Marker Allocation Percentage of 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 Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to among REMIC I Regular Interest AA LTI-IA, REMIC I Regular Interest LTI-IIA, REMIC I Regular Interest LTI-IIIA1, REMIC I Regular Interest LTI-IIIA2, REMIC I Regular Interest LTI-IIIA3, REMIC I Regular Interest LTI-M1, REMIC I Regular Interest LTI-M2, REMIC I Regular Interest LTI-M3, REMIC I Regular Interest LTI-M4 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest LTI-ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC I Regular Interest LTI-1SUB, REMIC I Regular Interest LTI-1GRP, REMIC I Regular Interest LTI-2SUB, REMIC I Regular Interest LTI-2GRP, REMIC I Regular Interest LTI-3SUB, REMIC I Regular Interest LTI-3GRP and REMIC I Regular Interest LTI-XX, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 reduce the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Interest Remittance 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 Rate on the respective Certificate Principal Balances Balance of each such Certificateclass of Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated to the Class I-A-2, Class III-A-2 and Subordinate Certificates and Basis Risk Shortfalls allocated to the Publicly Offered Certificates for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, : The REMIC I Marker Allocation Percentage of 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 Net 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 AA and REMIC I Regular Interest 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 LTI-AA, REMIC I Regular Interest ALTI-IA1, REMIC I Regular Interest M-1LTI-IA2, REMIC I Regular Interest M-2LTI-IIA, REMIC I Regular Interest M-3LTI-IIIA1, REMIC I Regular Interest M-4LTI-IIIA2, REMIC I Regular Interest M-5LTI-M1, REMIC I Regular Interest B-1LTI-M2, REMIC I Regular Interest B-2LTI-M3, REMIC I Regular Interest B-3LTI-M4, REMIC I Regular Interest B-4 LTI-M5 and REMIC I Regular Interest LTI-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC I Regular Interest LTI-1SUB, REMIC I Regular Interest LTI-1GRP, REMIC I Regular Interest LTI-2SUB, REMIC I Regular Interest LTI-2GRP, REMIC I Regular Interest LTI-3SUB, REMIC I Regular Interest LTI-3GRP and REMIC I Regular Interest LTI-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest.
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Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B 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-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated firstamong REMIC I Regular Interest I-A-1, REMIC I Regular Interest I-A-2, REMIC I Regular Interest
(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 5.02) 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 to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA 1A, REMIC I Regular Interest 1B, REMIC I Regular Interest 2A, REMIC I Regular Interest 2B, REMIC I Regular Interest 3A, REMIC I Regular Interest 3B and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZXX, pro rata based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I Pass-Pass- Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and
(c) 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 allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
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Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-He5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates for any Distribution Date, the 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 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in a Collateral Pool for any Distribution Date shall be allocated first, to among the related Certificates (other than the Class C Certificates based on2- PO Certificates) pro rata in accordance with, and to the extent of, of one month’s interest at the then applicable Pass-Pass Through Rate on the respective Certificate Principal Balance or Notional Amount thereof andof such Certificate immediately prior to such 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 in Collateral Pool 1 for any Distribution Date shall be allocated to Uncertificated Interest payable to each REMIC I-A Regular Interest, thereafterpro rata, 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 PassREMIC I-Through Rates A Remittance Rate on the respective Certificate Principal Balances Uncertificated Balance of each such CertificateREMIC I-A Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans in Collateral Pool 1 for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to each REMIC I I-B Regular Interest AA in the same manner and priority as such amounts are allocated to the Corresponding Certificates. 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 in Collateral Pool 2 for any Distribution Date shall be allocated to Uncertificated Interest payable to each REMIC I II-A Regular Interest ZZ up to an aggregate amount equal to the (other than REMIC I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC I II-A Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZLT-PO1), pro rata rata, based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I PassII-Through Rates A Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II-A Regular Interest. 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 in Collateral Pool 2 for any Distribution Date shall be allocated to Uncertificated Interest payable to each REMIC II-B Regular Interest in the same manner and priority as such amounts are allocated to the Corresponding Certificates.
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Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-6)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates 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 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 the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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. For purposes of calculating the amount of Uncertificated Accrued 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 Company or 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 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 Master ServicerServicer 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 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 first, to Uncertificated Accrued Interest payable to among REMIC I II Regular Interest AA 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-LTA2A, REMIC II Regular Interest II-LTA2B, REMIC II Regular Interest II-LTA2C, REMIC II Regular Interest II-LTA2D, 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 ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountII-LTZZ, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 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 to Uncertificated Interest payable to REMIC II Regular Interest II-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, 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
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE-1 Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master Applicable Servicer pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE-1 Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE-1 Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE-1 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-1 Certificates. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution DateDate (other than REMIC I Regular Interest I-CE-2), the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company Applicable Servicer or the Master ServicerServicer pursuant to Section 3.24 and Section 4.15, respectively) 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 among REMIC I Regular Interest AA I-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-LTP and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, I-LTZZ pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2007-He1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE-1 Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company related Servicer pursuant to Section 3.22 of this Agreement or pursuant to the Servicing Agreement or by the Master Servicer pursuant to Section 6.02) 4.18 of this Agreement and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE-1 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 Certificates on a PRO RATA basis, in each case based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Balance or Notional Amount, as applicable, of each such Certificate, and (2) the 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-1 Certificates 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 thereof, as applicable. 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 Company related Servicer pursuant to Section 3.22 of this Agreement or the Servicing Agreement or the Master ServicerServicer pursuant to Section 4.18 of this Agreement) 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM4 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Loan Trust, Series 2005-Sn1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 reduce the Interest Remittance Amount on a PRO 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 class of Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated first, to the Class C I-A-2, Class II-A-3 and Subordinate Certificates and Basis Risk Shortfalls allocated to the Publicly Offered Certificates for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances of each such CertificateBalance 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, : The REMIC I Marker Allocation Percentage of 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 Net 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 AA and REMIC I Regular Interest 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 LTI-AA, REMIC I Regular Interest ALTI-IA1, REMIC I Regular Interest M-1LTI-IA2, REMIC I Regular Interest M-2LTI-IIA1, REMIC I Regular Interest M-3LTI-IIA2, REMIC I Regular Interest M-4LTI-IIA3, REMIC I Regular Interest M-5LTI-M1, REMIC I Regular Interest B-1LTI-M2, REMIC I Regular Interest B-2LTI-M3, REMIC I Regular Interest B-3LTI-M4, REMIC I Regular Interest B-4 LTI-M5 and REMIC I Regular Interest LTI-ZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC I Regular Interest LTI-1SUB, REMIC I Regular Interest LTI-1GRP, REMIC I Regular Interest LTI-2SUB, REMIC I Regular Interest LTI-2GRP and REMIC I Regular Interest LTI-XX, PRO RATA based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (NAAC Alternative Loan Trust, Series 2005 - AR1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 reduce the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Interest Remittance 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 Rate on the respective Certificate Principal Balances Balance of each such Certificateclass of Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated to the Class III-A-2, Class IV-A-2, Class V-A-4 and Subordinate Certificates and Basis Risk Shortfalls allocated to the Publicly Offered Certificates for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, : The REMIC I Marker Allocation Percentage of 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 Net 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 AA and REMIC I Regular Interest 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 LTI-AA, REMIC I Regular Interest ALTI-IA, REMIC I Regular Interest M-1LTI-IIA, REMIC I Regular Interest M-2LTI-IIIA1, REMIC I Regular Interest M-3LTI-IIIA2, REMIC I Regular Interest M-4LTI-IVA1, REMIC I Regular Interest M-5LTI-IVA2, REMIC I Regular Interest B-1LTI-VA1, REMIC I Regular Interest B-2LTI-VA2, REMIC I Regular Interest B-3LTI-VA3, REMIC I Regular Interest B-4 LTI-VA4, REMIC I Regular Interest LTI-M1, REMIC I Regular Interest LTI-M2, REMIC I Regular Interest LTI-M3, REMIC I Regular Interest LTI-M4, REMIC I Regular Interest LTI-M5 and REMIC I Regular Interest LTI-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC I Regular Interest LTI-1SUB, REMIC I Regular Interest LTI-1GRP, REMIC I Regular Interest LTI-2SUB, REMIC I Regular Interest LTI-2GRP, REMIC I Regular Interest LTI-3SUB, REMIC I Regular Interest LTI-3GRP, REMIC I Regular Interest LTI-4SUB, REMIC I Regular Interest LTI-4GRP, REMIC I Regular Interest LTI-5SUB, REMIC I Regular Interest LTI-5GRP and REMIC I Regular Interest LTI-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTAV1, REMIC I Regular Interest AI-LTAV2, REMIC I Regular Interest M-1I-LTAV3, REMIC I Regular Interest M-2I-LTAV4, REMIC I Regular Interest M-3I-LTAV-5, REMIC I Regular Interest M-4I-LTAF, REMIC I Regular Interest M-5I-LTM1, REMIC I Regular Interest B-1I-LTM2, REMIC I Regular Interest B-2I-LTM3, REMIC I Regular Interest B-3I-LTM4, REMIC I Regular Interest B-4 I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest 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 REMIC I Regular Interest I-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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004-W6)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class ASenior Certificates, Class M, Class B Mezzanine Certificates and Class C X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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, first reduce the Interest Distribution Amount payable to the Class C 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 Certificate Principal Balance or Certificate Notional Balance, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses on the Mortgage Loans allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Senior Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount Balance 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 Certificateany Distribution Date. 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 Company or the Master Servicer) and any Relief Act Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to among REMIC I Regular Interest AA LT-AA, REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC I Regular Interest LT-M3, REMIC I Regular Interest LT-M4 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest LT-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates for any Distribution Date, the 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 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Group 1 Mortgage Loans for any Distribution Date shall be allocated first, to the Class C 1-CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Pass Through Rate on the Certificate Notional Amount thereof of the Class 1-CE Certificates and, thereafter, among the Class A, Class M and Class B Certificates, in each case Group 1 Offered Certificates on a pro rata basis based on, and to the extent of, of one month’s interest at the then applicable respective Pass-Pass Through Rates Rate on the respective Certificate Principal Balances of each such CertificateCertificates immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I I-A Regular Interests for any Distribution Date, the : The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans Collateral Pool 1 for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to among REMIC I I-A Regular Interest AA and LT-AA, REMIC I I-A Regular Interest 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 AALT-1A1, REMIC I Regular Interest ALT-1A2, REMIC I I-A Regular Interest M-1LT-1A3, REMIC I I-A Regular Interest M-2LT-1A4, REMIC I I-A Regular Interest M-3LT-1M1, REMIC I I-A Regular Interest M-4LT-1M2, REMIC I I-A Regular Interest M-5LT-1M3, REMIC I I-A Regular Interest B-1, LT-1M4 and REMIC I I-A Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, LTZZ pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I PassI-Through Rates A Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I I-A Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II-A 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 Collateral Pool 2 for any Distribution Date shall be allocated among the REMIC II-A Regular Interests in the same manner and priority that such amounts are allocated to the Corresponding Certificates. 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 Group 2 Mortgage Loans for any Distribution Date shall be allocated among the related Certificates pro rata in accordance with, and to the extent of one month’s interest at the Pass Through Rate on the respective Certificate Principal Balances or Notional Amounts of such Certificates immediately prior to such Distribution Date.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Ar9)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. 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 Company or the Master ServicerServicer pursuant to Section 4.03(e)) 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 among REMIC I Regular Interest AA I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, 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 and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountI-LTZZ, 98% and 2%PRO RATA, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest for the Class A, Class M, Class B and Class C Certificates Remittance Amount for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 reduce the Class C Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Interest Remittance 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 Rate on the respective Certificate Principal Balances Balance of each such Certificateclass of Publicly Offered Certificates and (2) the aggregate amount of any Realized Losses allocated to the Class II-A-2, Class III-A-3, Class IV-A-2 and Subordinate Certificates and Basis Risk Shortfalls allocated to the Publicly Offered Certificates for any Distribution Date shall be allocated to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate Principal Balance thereof on any Distribution Date. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, : The REMIC I Marker Allocation Percentage of 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 Net 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 AA and REMIC I Regular Interest 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 LTI-AA, REMIC I Regular Interest ALTI-IA, REMIC I Regular Interest M-1LTI-IIA1, REMIC I Regular Interest M-2LTI-IIA2, REMIC I Regular Interest M-3LTI-IIIA1, REMIC I Regular Interest M-4LTI-IIIA2, REMIC I Regular Interest M-5LTI-IIIA3, REMIC I Regular Interest B-1LTI-IVA1, REMIC I Regular Interest B-2LTI-IVA2, REMIC I Regular Interest B-3LTI-M1, REMIC I Regular Interest B-4 LTI-M2, REMIC I Regular Interest LTI-M3, REMIC I Regular Interest LTI-M4, REMIC I Regular Interest LTI-M5 and REMIC I Regular Interest LTI-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; and The REMIC I Sub WAC Allocation Percentage of the aggregate amount of any Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC I Regular Interest LTI-1SUB, REMIC I Regular Interest LTI-1GRP, REMIC I Regular Interest LTI-2SUB, REMIC I Regular Interest LTI-2GRP, REMIC I Regular Interest LTI-3SUB, REMIC I Regular Interest LTI-3GRP, REMIC I Regular Interest LTI-4SUB, REMIC I Regular Interest LTI-4GRP and REMIC I Regular Interest LTI-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (ACE Securities Corp Home Equity Trust 2005-He3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B B, Class C Certificates and Class C Certificates Interest 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 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 the Class C Certificates Interest based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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. 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 Company or the 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 Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest AA-1, REMIC I Regular Interest A-2, REMIC I Regular Interest A-3, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust 2005-8)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates CE Interest based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate respective Notional Amount thereof of each such Certificate and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated among the Class CE Interest based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Notional Amount of each such Certificate. 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 Company or the Master ServicerServicer 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI- LTAA, REMIC I Regular Interest AI-LTA, REMIC I Regular Interest M-1I-LTM1, REMIC I Regular Interest M-2I-LTM2, REMIC I Regular Interest M-3I-LTM3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM4 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Salomon Bros Mort Sec Vii Sal Home Equ Ln Tr Ser 2002 Wmc1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class AGroup I Senior Certificates, Class M, Class B Mezzanine Certificates and Class C I-X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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 Group I Mortgage Loans for any Distribution Date shall be allocated first, first reduce the Interest Distribution Amount payable to the Class C I-M-3 Certificates, second, reduce the Interest Distribution Amount payable to the Class I-M-2 Certificates, third, reduce the Interest Distribution Amount payable to the Class I-M-1 Certificates, and fourth, reduce the Interest Distribution Amount payable to the Group I 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 Certificate Principal Balance or Certificate Notional Balance, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses on the Group I Mortgage Loans allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amount paid to the Group I Senior Certificates (other than the Class I-A-IO Certificates) and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class I-X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount Balance 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 Certificateany Distribution Date. For purposes of calculating the amount of Uncertificated the Accrued Certificate Interest for the REMIC I Regular Interests Group II-V Certificates (other than the Class P Certificates and Class R Certificates) 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 ServicerServicer pursuant to this Agreement) and any shortfalls resulting from application of the Relief Act in respect of the Group II-V Mortgage Loans for any Distribution Date shall be allocated among the Classes of Group II-V Certificates in proportion to the respective amounts of Accrued Certificate Interest that would have been allocated thereto in the absence of such interest shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IA Regular Interests for any Distribution Date, the aggregate amount of any Net Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated first, to REMIC IA Regular Interest LTI-1, to the extent of one month’s interest at the then applicable respective Uncertificated Accrued REMIC IA Pass-Through Rate on the Uncertificated Principal Balance of each such REMIC IA Regular Interest; and then, to REMIC IA Regular Interest payable to LTI-IO-A, REMIC IA Regular Interest LTI-IO-B, REMIC IA Regular Interest LTI-IO-C, REMIC IA Regular Interest LTI-IO-D, REMIC IA Regular Interest LTI-IO-E, REMIC IA Regular Interest LTI-IO-F, REMIC I Regular Interest AA LTI-IO-G and REMIC I Regular Interest ZZ up LTI-IO-H, in each case to an the extent of one month’s interest at the then applicable respective Uncertificated REMIC IA Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IA Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IB Regular Interests for any Distribution Date, the aggregate amount equal to of any Net Interest Shortfalls incurred in respect of the REMIC Group I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter Mortgage Loans for any Distribution Date shall be allocated among REMIC I IB Regular Interest LTI-AA, REMIC I IB Regular Interest ALTI-A1, REMIC I IB Regular Interest M-1LTI-A2, REMIC I IB Regular Interest M-2LTI-A3, REMIC I IB Regular Interest M-3LTI-A4, REMIC I IB Regular Interest M-4LTI-A5, REMIC I IB Regular Interest M-5LTI-M1, REMIC I IB Regular Interest B-1LTI-M2, REMIC I IB Regular Interest B-2, LTI-M3 and REMIC I IB Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest LTI-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I IB Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I IB Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC IIA Regular Interests for any Distribution Date: The aggregate amount of any Net Interest Shortfalls incurred in respect of the Group II-V Mortgage Loans for any Distribution Date shall be allocated to Uncertificated Accrued Interest payable to REMIC IIA Regular Interest LTII-1SUB, REMIC IIA Regular Interest LTII-1GRP, REMIC IIA Regular Interest LTII-2SUB, REMIC IIA Regular Interest LTII-2GRP, REMIC IIA Regular Interest LTII-3SUB, REMIC IIA Regular Interest LTII-3GRP, REMIC IIA Regular Interest LTII-4SUB, REMIC IIA Regular Interest LTII-4GRP and REMIC IIA Regular Interest LTII-XX, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC IIA Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC IIA Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest for the Class A1 Certificates, the A-IO Certificates, the Subordinated Certificates and the Class M, Class B and Class C X Certificates 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 pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C X Certificates based on, in reduction of the Class X Distribution Amount and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class AA1 Certificates, Class M A-IO Certificates and Class B Certificates, in each case the other Classes of Subordinated 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 Rates Rate on the respective Certificate Principal Balances Balance or Notional Amount of each such Certificate.
A. Designation of Interests in REMIC The Trustee shall elect that each of REMIC I, REMIC II, REMIC III, REMIC IV and REMIC V shall be treated as a REMIC under Section 860D of the Code. For purposes Any inconsistencies or ambiguities in this Agreement or in the administration of calculating this Agreement shall be resolved in a manner that preserves the amount validity of Uncertificated Accrued Interest for such REMIC elections. The assets of REMIC I shall include the Mortgage Loans, the accounts (other than the Net WAC Fund and the Prefunding Account), any REO Property, and any proceeds of the foregoing. The REMIC I Regular Interests for any Distribution Date, (as defined below) shall constitute the aggregate amount assets of any Prepayment Interest Shortfalls REMIC II. The REMIC II Regular Interests shall constitute the assets of REMIC III. The REMIC III Regular Interests (to as defined below) shall constitute the extent not covered by payments by assets of REMIC IV. The REMIC IV Regular Interests (as defined below) shall constitute the Company or the Master Servicer) and any Relief Act Interest Shortfalls incurred in respect assets of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, 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.V.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset Backed Sec Corp Home Equity Loan Trust Series 2001 He3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Floating Rate Certificates and the Class A, Class M, Class B and Class C CE Certificates 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 related Servicer pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued 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 Shortfalls (to the extent not covered by payments by the Company or the Master Servicerrelated Servicer pursuant to Section 3.24) 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 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, REMIC I Regular Interest I-LTM11, REMIC I Regular Interest I-LTM12, REMIC I Regular Interest I-LTM13 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
(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 3.24) 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 Accrued Interest payable to REMIC I Regular Interest AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZI-LTXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc., Series 2005-He3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate respective Notional Amount thereof of each such Certificate and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated 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 respective Notional Amount of each such Certificate. 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 Company or the Master ServicerServicer 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 Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 AAI- LTAA, REMIC I Regular Interest AI-LTA, REMIC I Regular Interest M-1I-LTM1, REMIC I Regular Interest M-2I-LTM2, REMIC I Regular Interest M-3I-LTM3, REMIC I Regular Interest M-4I-LTM4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM5 and REMIC I Regular Interest ZZ, pro rata I-LTZZ PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Home Eq Loan Trust Ser 2002 Cit1 Asst Back Pass Thru Certs)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, Class Mthe Mezzanine Certificates, the Class B Certificates and the Class C Certificates Interest for any Distribution Date, the aggregate amount of any Net 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, first 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 A Certificates, the Mezzanine Certificates and the Class B Certificates on a pro rata basis based on, and to the extent of, one month’s interest for the related Accrual Period at the then applicable Pass-Through respective Pass‑Through Rate on the respective Certificate Notional Principal Balance of each such Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount thereof andfor the Class C Certificates for any Distribution Date, thereafter, 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 A, Class M and Class B Certificates, in each case 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 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated:
(a) 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 AA and ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among AA, A-IA, A-IIA1, A-IIA2, A-IIA3, A-IIA4, M1, M2, M3, M4, M5, M6, M7, M8, M9, B1, B2 and ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Uncertificated Principal Balances Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, the aggregate amount Interest; and
(b) 50% of any Net 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 Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC I 2 Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount1GRP, 98% and 2%2GRP, respectively1SUB, 2SUB, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 3 Regular Interest. 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 incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated to REMIC 1 Regular Interests IX and the aggregate amount of any Net Prepayment Interest Shortfalls and Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated to REMIC 1 Regular Interest IIX.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-11)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I- LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTAV1, REMIC I Regular Interest AI-LTAV2, REMIC I Regular Interest M-1I-LTAF, REMIC I Regular Interest M-2I-LTM1, REMIC I Regular Interest M-3I-LTM2, REMIC I Regular Interest M-4I-LTM3, REMIC I Regular Interest M-5I-LTM4, REMIC I Regular Interest B-1I- LTM5, REMIC I Regular Interest B-2I-LTM6, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM7 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest 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 REMIC I Regular Interest I-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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Back Pass THR Certs Ser 2004 W2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate and (2) the aggregate amount of any Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated to the Class CE Certificates to the extent of, one month's interest at the then applicable Pass-Through Rate on the Notional Amount of such Certificate. 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 Company or 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, (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 and (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. 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 ServicerServicer 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 Accrued Interest payable to REMIC I II Regular Interest AA II- LTAA and REMIC I II Regular Interest ZZ II-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 AAII-LTA1, REMIC I II Regular Interest AII-LTA2, REMIC I II Regular Interest M-1II-LTA3, REMIC I II Regular Interest M-2II-LTA4, REMIC I II Regular Interest M-3II-LTA5, REMIC I II Regular Interest M-4II-LTM1, REMIC I II Regular Interest M-5II-LTM2, REMIC I II Regular Interest B-1II-LTM3, REMIC I II Regular Interest B-2II-LTM3A, REMIC I II Regular Interest B-3II- LTM3B, REMIC I II Regular Interest B-4 II-LTM4A, REMIC II Regular Interest II-LTM4B, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC I II Regular Interest ZZII-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 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-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 II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asset Backed Pass Thru Cer Ser 2003-W9)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates CE Interest based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Interest and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE Interest 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 Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA1C, 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 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, I-LTZZ on a pro rata basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest. For purposes of calculating the amount of the Accrued Certificate Interest 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 shall be allocated to the Class C Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust Inc Series 2005-Opt1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA-1, Class MA-2, Class B M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class 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 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, 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 C Certificates based on, and to the extent of, one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof andBalance thereof, thereafter, among second to the Class A, Class M and Class B B-2 Certificates, in each case third to the Class B-1 Certificates, fourth to the Class M-3 Certificates, fifth to the Class M-2 Certificates, sixth to the Class M-1 Certificates and following the Cross-Over Date 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 Rates on the respective Certificate Principal Balances of each such Certificatebasis. 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 Company or the Master Servicer) and 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 Regular Interest AA and REMIC I Regular Interest 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 AAA-1, REMIC I Regular Interest AA-2, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 B-2 and REMIC I Regular Interest ZZ, pro rata rata, based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I LLC 2004-Ac3)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, A Certificates and Class M and Class B Certificates, in each case on a pro rata basis based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest 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 AAI-A-1, REMIC I Regular Interest AI-A-2, REMIC I Regular Interest I-A-3, REMIC I Regular Interest II-A-1, REMIC I Regular Interest II-A-2, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1M-6, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 M-7 and REMIC I Regular Interest ZZ, pro rata rata, based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest;
(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 5.02) 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 to Uncertificated Accrued Interest payable to REMIC I Regular Interest 1A, REMIC I Regular Interest 1B, REMIC I Regular Interest 2A, REMIC I Regular Interest 2B and REMIC I Regular Interest XX, pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC I Regular Interest; and
(c) 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 allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He11)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates for any Distribution Date, the 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 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Pass Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M and Class B Certificates, in each case Offered Certificates on a pro rata basis based on, and to the extent of, of one month’s interest at the then applicable respective Pass-Pass Through Rates Rate on the respective Certificate Principal Balances of each such CertificateCertificates immediately prior to such Distribution Date. 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 Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA LTAA, REMIC I Regular Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest LTA4, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4 and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, LTZZ pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2007-Ar1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Fixed Rate Certificates and the Class A, Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate immediately prior to such Distribution Date. For purposes of calculating the amount of Uncertificated Accrued 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 Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 3.24) 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 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-LTA2E, REMIC I Regular Interest I-LTA2F, 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 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
(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 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 AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZI-LTXX, pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust 2006-Wf1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, the Class B and the Class C Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C Certificates Certificate based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the Certificate 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 Company or the Master ServicerServicer 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 Regular Interest AA and REMIC I Regular Interest 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 AAA-1, REMIC I Regular Interest AA-2, REMIC I Regular Interest A-3, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata 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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Saco I Trust, 2005-Wm2)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Interest Distribution Amount for the Class ASenior Certificates, Class M, Class B Mezzanine Certificates and Class C X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net 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, first reduce the Interest Distribution Amount payable to the Class C M-4 Certificates, second, reduce the Interest Distribution Amount payable to the Class M-3 Certificates, third, reduce the Interest Distribution Amount payable to the Class M-2 Certificates, fourth, reduce the Interest Distribution Amount payable to the Class M-1 Certificates and fifth, 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 Certificate Principal Balance or Certificate Notional Balance, 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 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 to the Class X Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount Balance 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 Certificateany Distribution Date. 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 Company or the Master Servicer) and 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, to the extent of one month’s interest at the then applicable respective Uncertificated Accrued 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 AA and REMIC I Regular Interest 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 AA, REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest M-1LTI-IO-B, REMIC I Regular Interest M-2LTI-IO-C, REMIC I Regular Interest M-3LTI-IO-D, REMIC I Regular Interest M-4LTI-IO-E, REMIC I Regular Interest M-5LTI-IO-F, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 LTI-IO-G and REMIC I Regular Interest LTI-IO-H, in each case to the extent of one month’s interest at the then applicable respective Uncertificated REMIC I Pass- Through Rate on the respective Uncertificated Principal Balance 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 Net Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-A1, REMIC II Regular Interest LTII-A2, REMIC II Regular Interest LTII-A3, REMIC II Regular Interest LTII-A4, REMIC II Regular Interest LTII-A5, REMIC II Regular Interest LTII-M1, REMIC II Regular Interest LTII-M2, REMIC II Regular Interest LTII-M3, REMIC II Regular Interest LTII-M4 and REMIC II Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II Regular Interest.
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Class MIO Certificates, the Mezzanine Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class AA Certificates, Class M IO Certificates and Class B Certificates, in each case the Mezzanine 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 Rates Rate on the respective Certificate Principal Balances Balance or Notional Amount of each such Certificate. 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 Company or Master Servicer pursuant to Section 4.03(e)) 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 I-LT1 and REMIC I Regular Interest I-LT2, on a pro rata basis based on the Uncertificated Balance of each such REMIC I Regular Interest, 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 and then, (a) any such shortfalls on the Group I Mortgage Loans shall be allocated sequentially to REMIC I Regular Interest I-LTIO1-1, REMIC I Regular Interest I-LTIO1-2, REMIC I Regular Interest I- LTIO1-3, REMIC I Regular Interest I-LTIO1-4, REMIC I Regular Interest I-LTIO1-5, REMIC I Regular Interest I-LTIO1-6, REMIC I Regular Interest I-LTIO1-7, REMIC I Regular Interest I- LTIO1-8, REMIC I Regular Interest I-LTIO1-9 and REMIC I Regular Interest I-LTIO1-10, in that order, 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 and (b) any such shortfalls on the Group II Mortgage Loans shall be allocated sequentially to REMIC I Regular Interest I-LTIO2-1, REMIC I Regular Interest I-LTIO2-2, REMIC I Regular Interest I- LTIO2-3, REMIC I Regular Interest I-LTIO2-4, REMIC I Regular Interest I-LTIO2-5, REMIC I Regular Interest I-LTIO2-6, REMIC I Regular Interest I-LTIO2-7, REMIC I Regular Interest I- LTIO2-8, REMIC I Regular Interest I-LTIO2-9 and REMIC I Regular Interest I-LTIO2-10, in that order, 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:
(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 ServicerServicer 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 Accrued Interest payable to REMIC I II Regular Interest AA II- LTAA and REMIC I II Regular Interest ZZ II-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 AAII-LTA1, REMIC I II Regular Interest AII-LTA2, REMIC I II Regular Interest M-1II-LTA3, REMIC I II Regular Interest M-2II-LTM1, REMIC I II Regular Interest M-3II-LTM2, REMIC I II Regular Interest M-4II-LTM3, REMIC I II Regular Interest M-5II-LTM4, REMIC I II Regular Interest B-1II-LTM5, REMIC I II Regular Interest B-2II-LTM6, REMIC I II Regular Interest B-3II-LTM7, REMIC I II Regular Interest B-4 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 ZZII- LTZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I Pass-Through Rates on the Uncertificated Principal Balances of each such REMIC I Regular Interest.applicable
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C Certificates CE Interest for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfall 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 Pass-Through Rate on the Notional Amount of the Class CE Interest 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 (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated to the Class CE Interest 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 Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:
(A) The REMIC I 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 4.03(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 allocated firstamong REMIC I Regular Interest I-LTA1, to the Class C Certificates based onREMIC 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, REMIC I Regular Interest I-LTM11, REMIC I Regular Interest I-LTM12 and to the extent ofREMIC I Regular Interest I-LTZZ, one month’s interest at the then applicable Pass-Through Rate on the Certificate 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 's interest at the then applicable respective Pass-Through Rates REMIC I Remittance Rate on the respective Certificate Principal Balances Uncertificated Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest; 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 Company or the Master ServicerServicer 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 Accrued Interest payable to REMIC I Regular Interest AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountI-LTXX, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, on a pro rata basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Citigroup Mortgage Loan Trust, Series 2004-Res1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class AA Certificates, the Class M, M Certificates and the Class B and Class C CE Certificates 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 pursuant to Section 6.025.02) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s 's interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof and, thereafter, among the Class A, Class M and Class B 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-Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 5.02) 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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation Amount, 9898.00% and 22.00%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1M-6, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 M-7A and REMIC I Regular Interest ZZM-7B, pro rata and REMIC I Regular Interest 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 Rates Rate on the respective Uncertificated Principal Balances Balance 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 Master Servicer pursuant to Section 5.02) and any Relief Act Interest Shortfalls allocated to the Class CE Certificates shall be deemed allocated to the Class CE Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-He8)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, one month’s interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof of the Class CE Certificates and, thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such CertificateCertificate and (2) the aggregate amount of any Realized Losses incurred for any Distribution Date shall be allocated 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. 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 Company or the Master ServicerServicer 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 among REMIC I Regular Interest AA I-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-LTA5, 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 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 AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, I-LTZZ pro rata based on, and to the extent of, one month’s interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Carrington Mortgage Loan Trust, Series 2006-Nc5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest for the Class A, Class M, Class B and Class C Certificates for any Distribution Date, the The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company Master Servicer or the Master Special Servicer pursuant to Section 6.023.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to among the Certificates (other than the Class C Certificates based onPO Certificates), PRO RATA in accordance with, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate 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 Balance or Notional Amount of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Certificate immediately prior to such Distribution Date, the . The aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company Master Servicer or the Master ServicerSpecial 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 among the REMIC I Regular Interests (other than REMIC I Regular Interest AA I-LTPO1, REMIC I Regular Interest I-LTPO2, REMIC I Regular Interest I-LTPO3 and REMIC I Regular Interest ZZ up to an I-LTPO4) on a PRO RATA basis based on their respective Uncertificated Balances. The aggregate amount equal to the REMIC I of any Prepayment Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata based on, and Shortfalls (to the extent ofnot covered by payments by the Master Servicer or the Special 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 among the REMIC II Regular Interests (other than REMIC II Regular Interest II-LTPO1, one month’s interest at the then applicable REMIC II Regular Interest II-LTPO2, REMIC II Regular Interest II-LTPO3 and REMIC II Regular Interest II-LTPO4) on a PRO RATA basis based on their respective Uncertificated REMIC I Pass-Through Rates on the Uncertificated Principal Balances of each such REMIC I Regular Interest.Balances
Appears in 1 contract
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I- LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTAV1, REMIC I Regular Interest AI-LTAV2, REMIC I Regular Interest M-1I-LTAV3, REMIC I Regular Interest M-2I-LTAV4, REMIC I Regular Interest M-3I-LTAF, REMIC I Regular Interest M-4I-LTM1, REMIC I Regular Interest M-5I-LTM2, REMIC I Regular Interest B-1I- LTM3, REMIC I Regular Interest B-2I-LTM4, REMIC I Regular Interest B-3I-LTM5, REMIC I Regular Interest B-4 I-LTM6, REMIC I Regular Interest I-LTM7 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest; 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 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 REMIC I Regular Interest 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 REMIC I Regular Interest I-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.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Asset-Backed Pass-Through Certificates Series 2004-W1)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(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 C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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 Rates Rate on the respective Certificate Principal Balances Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Date the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or Master Servicer pursuant to Section 4.03(e)) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans shall be allocated to REMIC I Regular Interest I-LT1, REMIC I Regular Interest I-LT2 and REMIC I Regular Interest I-LT3, 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 then to REMIC I Regular Interest I-LT1SWAP, REMIC I Regular Interst I-LT2SWAP and REMIC I Regular Interest I-LT3SWAP, on a PRO RATA basis 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 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 ServicerServicer 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 Accrued Interest payable to among REMIC I II Regular Interest AA II-LTA1A, 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, REMIC II Regular Interest II-LTM11 and REMIC I II Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountII-LTZZ, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated respective REMIC I Pass-Through Rates II Remittance Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I 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 to Uncertificated Interest payable to REMIC II Regular Interest II-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 II Regular Interest II-LTXX, 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
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (and Curtailment Interest Shortfalls to the extent not covered by payments payment by the Company related Servicer pursuant to the related Servicing Agreement or the Master Servicer pursuant to Section 6.023.20 shall first reduce the Net Monthly Excess Cashflow for such Distribution Date, second, reduce the Interest Distribution Amount payable to the Class CE Certificates, third, reduce the Interest Distribution Amount payable to the Class M-3 Certificates, fourth, reduce the Interest Distribution Amount payable to the Class M-2 Certificates, fifth, reduce the Interest Distribution Amount payable to the Class M-1 Certificates and sixth, reduce the Interest Distribution Amount payable to the Class A Certificates (on a PRO RATA basis based on their respective Senior Interest Distribution Amounts before such reduction), (2) and any Relief Act Interest Shortfalls incurred in respect on the Loans shall be allocated to the Certificates on a pro rata basis based on their respective Interest Distribution Amounts before such reduction, and (3) the aggregate amount of the Mortgage Loans for interest portion of Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates (other than the Class A-IO Certificates) and the Mezzanine Certificates on any Distribution Date shall be allocated first, to the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Principal Balance or Notional Amount thereof andthereof, 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 Certificateas applicable. 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 Company or the Master Servicer) and any Relief Act Uncompensated 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 Accrued 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 AA LTI-IO-1, REMIC I Regular Interest LTI-IO-2, REMIC I Regular Interest LTI-IO-3 and REMIC I Regular Interest ZZ up to an aggregate amount equal LTI-IO-4, in each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Interest Loss Allocation Amount, 98% and 2%, 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 AAfor the REMIC II Regular Interests for any Distribution Date, the aggregate amount of any Uncompensated Interest Shortfalls incurred in respect of the Loans for any Distribution Date shall be allocated among REMIC II Regular Interest LTII-A1, REMIC I II Regular Interest ALTII-A2, REMIC I II Regular Interest M-1LTII-A3, REMIC I II Regular Interest M-2LTII-A4A, REMIC I II Regular Interest M-3LTII-A4B, REMIC I II Regular Interest M-4LTII-A5A, REMIC I II Regular Interest M-5LTII-A5B, REMIC I II Regular Interest B-1LTII-M1, REMIC I II Regular Interest B-2LTII-M2, REMIC I II Regular Interest B-3, LTII-M3 and REMIC I II Regular Interest B-4 and REMIC I Regular Interest LTII-ZZ, pro rata based on, and to the extent of, one month’s 's interest at the then applicable respective Uncertificated REMIC I II Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I II Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc. Mortgage Loan Trust 2004-5)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates 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 pursuant to Section 6.024.03(e)) and any Relief Act Interest Shortfalls Shortfall incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to reduce the interest accrued on the Class C CE Certificates based on, and to the extent of, of one month’s 's interest at the then applicable Pass-Through Rate on the Certificate Notional Amount thereof and, of such Certificate and thereafter, among the Class A, Class M A Certificates and Class B Certificates, in each case 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-Pass- Through Rates Rate on the respective Certificate Principal Balances Balance 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) The REMIC I Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Company or the Master ServicerServicer pursuant to Section 4.03(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 allocated first, to Uncertificated Accrued Interest payable to REMIC I Regular Interest AA I-LTAA and REMIC I Regular Interest ZZ I-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 Regular Interest AAI-LTA1, REMIC I Regular Interest AI-LTA2A, REMIC I Regular Interest M-1I-LTA2B, REMIC I Regular Interest M-2I-LTM1, REMIC I Regular Interest M-3I-LTM2, REMIC I Regular Interest M-4I-LTM3, REMIC I Regular Interest M-5I-LTM4, REMIC I Regular Interest B-1I-LTM5, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 I-LTM6 and REMIC I Regular Interest ZZI-LTZZ, pro rata PRO RATA based on, and to the extent of, one month’s 's interest at the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Balance of each such REMIC II Regular Interest; and
(B) The REMIC I PassSub 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 to Uncertificated Interest payable to REMIC I Regular Interest I-Through Rates LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest I-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 Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Argent Securities Inc Asst Back Pass THR Certs Ser 20003-W10)
Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Current the Monthly Interest Distributable Amount for the Class AA Certificates, the Mezzanine Certificates and the Class M, Class B and Class C CE Certificates for any Distribution Date, (1) 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 6.023.24) and any Relief Act Interest Shortfall 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 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 (2) the aggregate amount of any Realized Losses and Net WAC Rate Carryover Amounts incurred for any Distribution Date shall be allocated 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 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:
(A) The REMIC I 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 3.24) and the REMIC I 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 firstamong REMIC I Regular Interest I-LTAA, to the Class C Certificates based onREMIC I Regular Interest I-LTA1, and to the extent ofREMIC I Regular Interest I-LTA2, one month’s interest at the then applicable PassREMIC I Regular Interest I-Through Rate on the Certificate Notional Amount thereof andLTA3, thereafterREMIC I Regular Interest I-LTA4, among the Class AREMIC I Regular Interest I-LTA5, Class M and Class B CertificatesREMIC I Regular Interest I-LTM1, in each case 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 REMIC I Regular Interest I-LTZZ, 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 Rates Rate on the respective Certificate Principal Balances Uncertificated Balance of each such Certificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests for any Distribution Date, Interest; 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 Company or the Master ServicerServicer pursuant to Section 3.24) and the REMIC I Sub WAC 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 Accrued Interest payable to REMIC I Regular Interest AA I-LT1SUB, REMIC I Regular Interest I-LT1GRP, REMIC I Regular Interest I-LT2SUB, REMIC I Regular Interest I-LT2GRP and REMIC I Regular Interest ZZ up to an aggregate amount equal to the REMIC I Interest Loss Allocation AmountI-LTXX, 98% and 2%, respectively, and thereafter among REMIC I Regular Interest AA, REMIC I Regular Interest A, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, REMIC I Regular Interest M-4, REMIC I Regular Interest M-5, REMIC I Regular Interest B-1, REMIC I Regular Interest B-2, REMIC I Regular Interest B-3, REMIC I Regular Interest B-4 and REMIC I Regular Interest ZZ, pro rata on a PRO RATA basis based on, and to the extent of, one month’s 's interest at the then applicable Uncertificated REMIC I respective Pass-Through Rates Rate on the respective Uncertificated Principal Balances Balance of each such REMIC I Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Mastr Alternative Loan Trust 2005-Nc1)