Common use of Allocation of Certain Interest Shortfalls Clause in Contracts

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 (Ace Securities Corp)

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Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass A-2, the Class A-IO Certificates A-3, Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4 and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, in reduction of amounts otherwise distributable to the Class CE 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 respective Pass-Through Rate on the Certificate Notional Amount thereof andthereof, thereafter, among second to the Class M-6 B-4 Certificates, third to the Class M-5 B-3 Certificates, fourth to the Class M-4 B-2 Certificates, fifth to the Class B-1 Certificates, sixth to the Class M-3 Certificates, seventh to the Class M-2 Certificates, and eighth to the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate Rates on the respective Certificate Principal Balance or Notional Amount, as applicable Balances of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P) for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1AA, REMIC I Regular Interest A-1, REMIC I Regular Interest A-3, REMIC I Regular Interest A-5, REMIC I Regular Interest M-1, REMIC I Regular Interest M-2, REMIC I Regular Interest M-3, 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 in proportion to the amount of the Uncertificated Accrued Interest that would have been allocated to such REMIC I Regular Interests in the absence of such Unpaid Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular InterestInterests for any Distribution Date, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable first to REMIC II Regular Interest II-LT1SUBC, and then, pro rata, to REMIC II Regular Interest A-1, REMIC II Regular Interest II-LT1GRPA-3, REMIC II Regular Interest II-LT2SUBA-5, REMIC II Regular Interest II-LT2GRPM-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest B-3 and REMIC II Regular Interest II-LTXXB-4, pro rata in each case based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Remittance Rate Pass-Through Rates on the respective Uncertificated Balance Principal Balances of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac9)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass A-2, the Class A-IO Certificates A-3, Class A-4, Class X-0, Xxxxx X-0, Class M-1, Class M-2, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated FIRST, in reduction of amounts otherwise distributable to the Class C Certificates and Class R Certificates, AND THEREAFTER among the Offered Certificates in proportion to the amount of the Monthly Interest Distributable Amount that would have been allocated to such Certificates in the absence of such Unpaid Interest Shortfalls and (2) the interest portion of Realized Losses for the Mortgage Loans will be allocated first, to the Class CE C Certificates 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 andBalance thereof, thereafter, among second to the Class M-6 B Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, third to the Class M-2 Certificates, fourth to the Class M-1 Certificates and following the Class A Cross-Over Date to the Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofpro 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 Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1A-1, REMIC II I Regular InterestInterest A-2, REMIC II I Regular Interest II-LTM1A-3, REMIC II I Regular Interest II-LTM2A-4, REMIC II I Regular Interest II-LTM3A-5, REMIC II I Regular Interest II-LTM4M-1, REMIC II I Regular Interest II-LTM5M-2, REMIC II I Regular Interest II-LTM6 B and REMIC II I Regular Interest II-LTZZ PRO RATA ZZ, pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance 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 Interest; and (B) The REMIC II Sub WAC Allocation Percentage of Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable first to REMIC II Regular Interest II-LT1SUBC, and then, pro rata, to REMIC II Regular Interest A-1, REMIC II Regular Interest II-LT1GRPA-2, REMIC II Regular Interest II-LT2SUBA-3, REMIC II Regular Interest II-LT2GRPA-4, REMIC II Regular Interest A-5, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2 and REMIC II Regular Interest II-LTXXB, pro rata based on, and in each case to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac4)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Class CE Certificates C Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and C Interest to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Pass‑Through Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case the Mezzanine Certificates and the Class B Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Pass‑Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates Net Prepayment Interest Shortfalls and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be Relief Act Interest Shortfalls allocated to the Class CE C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a PRO RATA pro rata basis based on, and to the extent of, on one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof’s interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to and Relief Act Interest Shortfalls incurred in respect of the extent not covered by payments pursuant to Section 3.22 or Section 4.19 Mortgage Loans for any Distribution Date shall be allocated: (a) 50% of any Net Prepayment Interest and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to AA and ZZ up to an aggregate amount equal to the Group I Mortgage LoansREMIC 2 Interest Loss Allocation Amount, first98% and 2%, to REMIC I Regular Interest Irespectively, and thereafter among AA, X-LT1 XX, X-XXX0, X-XXX0, X-XXX0, X-XXX0, X0, X0, X0, X0, X0, X0, M7, M8, M9, B1, B2 and then to REMIC I Regular Interest I-LTIO-1ZZ, in each case pro rata based on, and to the extent of of, one month's ’s interest at the then applicable respective REMIC I Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I 2 Regular Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:and (Ab) The REMIC II Marker Allocation Percentage of the aggregate amount 50% of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II 2 Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation AmountXxxxxxxx 0XXX, 98% and 2%0XXX, respectively1SUB, 2SUB, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXXX, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II 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 (WaMu Asset-Backed Certificates, WaMu Series 2007-He1)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class B Certificates, Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Class B Certificates, Mezzanine Certificates, Class A-3 Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates, the Mezzanine Certificates and the Mezzanine Class B Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II 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 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II 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 Interest payable to REMIC II I Regular Interest III-LTAA and REMIC II Regular Interest III-LTZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 9898.00% and 22.00%, respectively, and thereafter among REMIC II I Regular Interest III-LTA1, REMIC II I Regular InterestInterest I-LTA2, REMIC II I Regular Interest III- LTA3, REMIC I Regular Interest I-LTM1, REMIC II I Regular Interest III-LTM2, REMIC II I Regular Interest III-LTM3, REMIC II I Regular Interest III-LTM4, REMIC II I Regular Interest III-LTM5, REMIC II I Regular Interest III-LTM6 LTM6, REMIC I Regular Interest I-LTB and REMIC II I Regular Interest III-LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC II I Remittance Rate on the respective Uncertificated Balance of each such REMIC II I Regular Interest; and (B) The REMIC II I Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II 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 II I Regular Interest III-LT1SUBLT1A, REMIC II I Regular Interest III-LT1GRPLT1B, REMIC II I Regular Interest III-LT2SUBLT2A, REMIC II I Regular Interest III-LT2GRPLT2B, and REMIC II I Regular Interest III-LTXX, pro rata based on, and to the extent of, one month's interest at the then applicable respective REMIC II I Remittance Rate on the respective Uncertificated Balance of each such REMIC II I Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Sec Corp Hom Eq Ln Tr Ser 2003-Op1)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Group I Senior Certificates, the Mezzanine Group II Senior Certificates, the Group III Senior Certificates, the Class A-IO M Certificates and the Class CE Certificates Certificates, and the Components, 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 related Servicer pursuant to Section 3.22 the related Servicing Agreement or the Master Servicer pursuant to Section 4.19 3.21 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 Interest Distribution Amount payable to each Class of Class M Certificates in reverse order of payment priority, fourth, the Interest Distribution Amount payable to the Group I Senior Certificates, the Group II Senior Certificates, the Group III Senior Certificates and Components (on a pro rata basis based on their respective Senior Interest Distribution Amounts before such reduction), (2) any Relief Act Interest Shortfalls incurred in respect of on the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Group I Senior Certificates, Class M-5 the Group II Senior Certificates, the Group III Senior Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 M Certificates and the Class A Certificates, in that order, in each case Components on a PRO RATA pro rata basis based onon their respective Interest Distribution Amounts before such reduction, 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 (23) the aggregate amount of any the interest portion of Realized Losses allocated to the Mezzanine Class M Certificates and Net WAC Rate Carryover Amounts paid to the Class A Group I Senior Certificates, the Group II Senior Certificates, the Group III Senior Certificates and the Mezzanine Class M Certificates incurred for and Components on any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each related Interest Distribution Amount for such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 (Deutsche Alt-a Securities Mortgage Loan Trust, Series 2007-Oa4 /DE)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE C Certificates based on, and to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that orderthe Mezzanine Certificates and the Class B Certificates, in each case case, on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Pass‑Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable Amount of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 AA and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II 1 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1AA, REMIC II Regular InterestA1, REMIC II Regular Interest II-LTM1A2, REMIC II Regular Interest II-LTM2A3, REMIC II Regular Interest II-LTM3M1, REMIC II Regular Interest II-LTM4M2, REMIC II Regular Interest II-LTM5M3, REMIC II Regular Interest II-LTM6 M4, M5, M6, M7, B1, B2 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 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 Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXZZ, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC II Remittance 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II 1 Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2006-A)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass A-2, the Class A-IO Certificates A-3, Class A-4, Claxx X-0, Xxxxx M-2, Class B and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated FIRST, in reduction of amounts otherwise distributable to the Class C Certificates and Class R Certificates, AND THEREAFTER among the Offered Certificates in proportion to the amount of the Monthly Interest Distributable Amount that would have been allocated to such Certificates in the absence of such Unpaid Interest Shortfalls and (2) the interest portion of Realized Losses for the Mortgage Loans will be allocated first, to the Class CE C Certificates 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 andBalance thereof, thereafter, among second to the Class M-6 B Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, third to the Class M-2 Certificates, and fourth to the Class M-1 Certificates and the Class A Certificates, in that orderand following the Cross-Over Date to the Senior 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 Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofpro 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 Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1A-1, REMIC II I Regular InterestInterest A-2, REMIC II I Regular Interest II-LTM1A-3, REMIC II I Regular Interest II-LTM2M-1, REMIC II I Regular Interest II-LTM3M-2, REMIC II I Regular Interest II-LTM4, B and REMIC II I Regular Interest II-LTM5ZZ, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ PRO RATA pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance 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 Interest; and (B) The REMIC II Sub WAC Allocation Percentage of Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable first to REMIC II Regular Interest II-LT1SUBC, and then, pro rata, to REMIC II Regular Interest A- 1, REMIC II Regular Interest II-LT1GRPA-2, REMIC II Regular Interest II-LT2SUBA-3, REMIC II Regular Interest II-LT2GRPM- 1, and REMIC II Regular Interest II-LTXXM-2 and REMIC I Regular Interest B, pro rata based on, and in each case to the extent of, 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 (Bear Stearns Asset Backed Certs Ser 2003-Ac7)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass X-0, the Xxxxx X-0, Class A-IO Certificates M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, in reduction of amounts otherwise distributable to the Class CE 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 interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof andBalance thereof, thereafter, among second to the Class M-6 B-3 Certificates, third to the Class M-5 B-2 Certificates, fourth to the Class M-4 B-1 Certificates, fifth to the Class M-3 Certificates, sixth to the Class M-2 Certificates, seventh to the Class M-1 Certificates and following the Class A Cross-Over Date to the Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofpro 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 Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1A-1, REMIC II I Regular InterestInterest A-2, REMIC II I Regular Interest II-LTM1M-1, REMIC II I Regular Interest II-LTM2M-2, REMIC II I Regular Interest II-LTM3M-3, REMIC II I Regular Interest II-LTM4B-1, REMIC II I Regular Interest II-LTM5B-2, REMIC II I Regular Interest II-LTM6 B-3 and REMIC II I Regular Interest II-LTZZ PRO RATA ZZ, pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance 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 Interest; and (B) The REMIC II Sub WAC Allocation Percentage of Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable first to REMIC II Regular Interest II-LT1SUBC, and then, pro rata, to REMIC II Regular Interest A-1, REMIC II Regular Interest II-LT1GRPA-2, REMIC II Regular Interest II-LT2SUBM-1, REMIC II Regular Interest II-LT2GRPM-2, REMIC II Regular Interest M-3, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2 and REMIC II Regular Interest II-LTXXB-3, pro rata based on, and in each case to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac5)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of the Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A CertificatesA, the Mezzanine Certificates, the Class A-IO Certificates X and the Class CE B Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net Interest Shortfalls (for any Distribution Date shall be allocated among such Certificates in proportion to the extent not covered by payments by amount of Interest Funds that would have been allocated to such Certificates in the Servicer pursuant absence of such Net Interest Shortfalls, and (2) the interest portion of Realized Losses shall be allocated first, to Section 3.22 or the Master Servicer pursuant Class B-6 Certificates, second to Section 4.19 the Class B-5 Certificates, third to the Class B-4 Certificates, fourth to the Class B-3 Certificates, fifth to the Class B-2 Certificates and sixth to the Class B-1 Certificates, and following the Cross-Over Date, fourth to the Senior Certificates, on a pro rata basis. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interests P, PO and R-2/R-3) for any Relief Act Distribution Date, the aggregate amount of any Net Interest Shortfalls incurred in respect and interest portion of the Mortgage Loans Realized Losses for any Distribution Date shall be allocated first, to the Class CE Certificates among REMIC I Regular Interest 1-Sub, REMIC I Regular Interest 1-ZZZ, REMIC I Regular Interest 2-Sub, REMIC I Regular Interest 2-ZZZ and REMIC I Regular Interest X, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate Rates on the respective Certificate Uncertificated Principal Balance or Notional Amount, as applicable Balances of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofREMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I II Regular Interests (other than REMIC II Regular Interests P, PO and R-3) for any Distribution Date, the aggregate amount of any Prepayment Net Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect interest portion of the Mortgage Loans Realized Losses for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each among such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests as such amounts are allocable to the Corresponding Certificates; provided that, solely for any Distribution Date: (A) The REMIC II Marker Allocation Percentage purposes of the aggregate amount of foregoing, any Prepayment Interest Shortfalls (shortfalls allocable to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Class A-6 Certificates shall be deemed to be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% Class A-5 Certificates and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC II Remittance Rate Class A-7 Certificates 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 Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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, a 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 Interestbasis.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac5)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or by the Master Servicer pursuant to Section 4.19 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 CE Certificates, second, to the Class M-4 Certificates, third, to the Class M-3 Certificates, fourth, to the Class M-2 Certificates, fifth, to the Class M-1 Certificates and sixth, to the Class A Certificates, in each case based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable applicable, of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount thereof, as applicable. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or the Master Servicer pursuant to Section 4.19 4.19) and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 I and then to the REMIC I Group I Regular Interest I-LTIO-1Interests ending with the designation “B”, in each case pro rata based on, and to the extent of of, one month's ’s interest at the then applicable respective REMIC I Remittance Rate Rates on the respective Uncertificated Principal Balance Balances of each such Uncertificated REMIC I Regular Interest; , and (ii) with respect to the Group II Mortgage Loans, firstthen, to REMIC I Regular Interest I-LT2 and then to REMIC Group I Regular Interest I-LTIO-2Interests ending with the designation “A”, in each case pro rata based on, and to the extent of of, one month's ’s interest at the then applicable respective REMIC I Remittance Rate Rates on the respective Uncertificated Balance Balances of each such Uncertificated REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Group II Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.23 of this Agreement or the Master Servicer pursuant to Section 4.19) and any Relief Act Interest Shortfalls incurred in respect of Group II Mortgage Loans shall be allocated first, to REMIC I Regular Interest II and to the REMIC I Group II Regular Interests ending with the designation “B”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Principal Balances of each such REMIC I Regular Interest , and then, to REMIC I Group II Regular Interests ending with the designation “A”, pro rata based on, and to the extent of, one month’s interest at the then applicable respective REMIC I Remittance Rates on the respective Uncertificated Balances of each such REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC II Regular Interest II-LTAA AA, REMIC II Regular Interest A, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4, REMIC II Regular Interest ZZ and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ PRO RATA P 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 II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or by the Master Servicer pursuant to Section 4.194.19 of this Agreement) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest III-LT1SUBSUB, REMIC II Regular Interest I-GRP, REMIC II Regular Interest II-LT1GRPSUB, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP, GRP and REMIC II Regular Interest II-LTXXXX, 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of the Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, (other than the Class A-IO Certificates A-6 Certificates), Class X-1 and the Class CE B Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among such Certificates in proportion to the amount of the interest portion of the Available Funds that would have been allocated to such Certificates in the absence of such Net Interest Shortfalls, and (2) the interest portion of Realized Losses shall be allocated first, to the Class CE B-6 Certificates, second to the Class B-5 Certificates, third to the Class B-4 Certificates, fourth to the Class B-3 Certificates, fifth to the Class B-2 Certificates and sixth to the Class B-1 Certificates, and following the Cross-Over Date, fourth to the Senior Certificates, on a pro rata basis. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P, REMIC I Regular Interest PO, REMIC I Regular Interest R-2 and REMIC I Regular Interest R-3) for any Distribution Date, the aggregate amount of any Net Interest Shortfalls for any Distribution Date shall be allocated first, among REMIC I Regular Interest 1-Sub, REMIC I Regular Interest 1-ZZZ, REMIC I Regular Interest 2-Sub, REMIC I Regular Interest 2-ZZZ and REMIC I Regular Interest X, pro rata, based on, and to the extent of, one month's ’s interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate Rates on the respective Certificate Uncertificated Principal Balance or Notional Amount, as applicable Balances of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofREMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I II Regular Interests (other than REMIC II Regular Interest P, REMIC II Regular Interest PO, REMIC II Regular Interest A-6 and REMIC II Regular Interest R-3) for any Distribution Date, the aggregate amount of any Prepayment Net Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each among such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests as such amounts are allocable to the Corresponding Certificates; provided that, solely for any Distribution Date: (A) The REMIC II Marker Allocation Percentage purposes of the aggregate amount of foregoing, any Prepayment Interest Shortfalls (shortfalls otherwise allocable to the extent not covered by payments by the Servicer pursuant to Section 3.22 Class A-2 Certificates or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date Class A-3 Certificates shall be deemed to be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal entirely to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectivelyClass A-1 Certificates, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ PRO RATA based on, and any shortfalls otherwise allocable 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 (Class A-10 Certificates shall be deemed to be allocated entirely to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC 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 InterestClass A-9 Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac8)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Group I/II Certificates (other than the Class A I/II-B2 Certificates, the Mezzanine Class I/II-B3 Certificates and Class I/II-B4 Certificates), the Class AI/II-IO Certificates B Interests and the Class CE Certificates I/II-C Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Group I/II Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and I/II-C Interest to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Group I/II Certificates (other than the Class M-6 Certificates, Class M-5 I/II-B2 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 I/II-B3 Certificates and the Class A I/II-B4 Certificates, in that order, in each case ) and the Class I/II-B Interests on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Group III Certificates (other than the Class III-B Certificates), the Class III-B Interests and (2) the Class III-C Interest for any Distribution Date, the aggregate amount of any Realized Losses allocated to Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred Group III Mortgage Loans for any Distribution Date shall be allocated first to the Class CE III-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 Group III Certificates (other than the Class III-B Certificates) and the Class III-B Interest on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Notional Certificate Principal Balance of each such Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount thereoffor 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 related Class C Interest pursuant to the paragraph above shall be allocated among the related Class C Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class I/II-B2 Certificates, the Class I/II-B3 Certificates, the Class I/II-B4 Certificates, and the Class III-B Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class B Interest with the same designation pursuant to the paragraph above shall be allocated among the applicable Class B Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I I/II-1 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Group I/II Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II /II-1 Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) AA and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I/II-1 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage all of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC 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 I/II-1 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-LTXXInterests, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II I/II-1 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC III-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 III Mortgage Loans for any Distribution Date shall be allocated to REMIC III-1 Regular Interests AA and ZZ up to an aggregate amount equal to the REMIC III-1 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among all of the REMIC III-1 Regular Interests, pro rata based on, and to the extent of, one month’s interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC III-1 Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-Wl1 Asset-Backed Certificates, Series 2005-Wl1)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Interest Distribution Amount for the Class CE Certificates L3-C Regular Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and L3-C Regular Interest to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Certificate Interest Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case the Class B Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Certificate Interest Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofCertificate. For purposes of calculating the amount of Uncertificated the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of Interest Distribution Amounts for the REMIC I II Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest IClass L2-LT1 XX and then to REMIC I Regular Interest IL2-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II ZZ Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest IIthe Class L2-LTA1XX, REMIC II Regular InterestL2-A1, REMIC II Regular Interest IIL2-LTM1A2, REMIC II Regular Interest IIL2-LTM2A3, REMIC II Regular Interest IIL2-LTM3A4, REMIC II Regular Interest IIL2-LTM4M1, REMIC II Regular Interest IIL2-LTM5M2, REMIC II Regular Interest IIL2-LTM6 and REMIC II Regular Interest IIM3, L2-LTZZ PRO RATA based onM4, L2-M5, L2-M6, L2-M7, L2-M8, L2-M9, L2-M10, L2-B, 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 L2-ZZ 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 Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXInterests, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective REMIC II Remittance Certificate Interest Rate on the respective Uncertificated Class Principal Balance of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He2)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA, the Mezzanine CertificatesClass M-1, the Class A-IO Certificates M-2, Class M-3, Class B-1, Class B-2, Class B-3 and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, in reduction of amounts otherwise distributable to the Class CE 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 interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof andthereof, thereafter, among second to the Class M-6 B-3 Certificates, third to the Class M-5 B-2 Certificates, fourth to the Class M-4 B-1 Certificates, fifth to the Class M-3 Certificates, sixth to the Class M-2 Certificates, seventh to the Class M-1 Certificates and following the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and Cross-Over Date to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofSenior 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 pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1A, REMIC II I Regular InterestInterest M-1, REMIC II I Regular Interest II-LTM1M-2, REMIC II I Regular Interest II-LTM2M-3, REMIC II I Regular Interest II-LTM3B-1, REMIC II I Regular Interest II-LTM4B-2, REMIC II I Regular Interest II-LTM5, B-3 and REMIC II I Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ PRO RATA ZZ, pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance I Pass-Through Rate on the respective Uncertificated Principal 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 Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 I Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac1)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass A-2, the Class A-IO Certificates A-3, Claxx X-0, Xxxxx M-2, Class M-3, Class B-1, Class B-2, Class B-3 and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, in reduction of amounts otherwise distributable to the Class CE 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 interest at the then applicable respective Pass-Through Rate on the Certificate Notional Amount thereof andthereof, thereafter, among second to the Class M-6 B-3 Certificates, third to the Class M-5 B-2 Certificates, fourth to the Class M-4 B-1 Certificates, fifth to the Class M-3 Certificates, sixth to the Class M-2 Certificates, seventh to the Class M-1 Certificates and following the Class A Cross-Over Date to the Senior Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofpro 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 Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1A-1, REMIC II I Regular InterestInterest A-2, REMIC II I Regular Interest II-LTM1M-1, REMIC II I Regular Interest II-LTM2M-2, REMIC II I Regular Interest II-LTM3M-3, REMIC II I Regular Interest II-LTM4B-1, REMIC II I Regular Interest II-LTM5B-2, REMIC II I Regular Interest II-LTM6 B-3 and REMIC II I Regular Interest II-LTZZ PRO RATA ZZ, pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance 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 Interest; and (B) The REMIC II Sub WAC Allocation Percentage of Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable first to REMIC II Regular Interest II-LT1SUBC, and then, pro rata, to REMIC II Regular Interest A-1, REMIC II Regular Interest II-LT1GRPA-2, REMIC II Regular Interest II-LT2SUBM-1, REMIC II Regular Interest II-LT2GRPM-2, REMIC II Regular Interest M-3, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2 and REMIC II Regular Interest II-LTXXB-3, pro rata based on, and in each case to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2004-Ac7)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of the Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, Certificates (other than the Class A-IO Certificates APO, Class P and the Class CE Certificates Residual Certificates) for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.22 this Agreement or the Master Servicer pursuant to Section 4.19 Servicing Agreement, as applicable) and any shortfalls resulting from application of the Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, among the Classes of Certificates in proportion to the Class CE Certificates based on, and to respective amounts of Accrued Certificate Interest that would have been allocated thereto in the extent of, one month's absence of such interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofshortfalls. 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 pursuant to Section 3.22 or Section 4.19 5.02 and any shortfalls resulting from the application of the Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to among REMIC I Regular Interest I-LT1 Interests LT-1SUB, LT-1ZZZ, LT-2SUB, LT- 2ZZZ, LT-3SUB, LT-3ZZZ, LT-4SUB, LT-4ZZZ, LT-5SUB, LT-5ZZZ, LT-6SUB, LT-6ZZZ, LT- 7SUB and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXLT-7ZZZ, pro rata based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance I Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II I Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acceptance Corp)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Uncertificated Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates REMIC 1 Regular Interests for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, up to an aggregate amount equal to the Class CE Certificates based onREMIC 1 Interest Loss Allocation Amount, 98% to Uncertificated Accrued Interest payable to REMIC 1 Regular Interests LT-1 and LT-X, pro rata, and 2% to the extent ofUncertificated Accrued Interest payable to and REMIC 1 Regular Interests LT-9 and LT-9X, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based onpro rata, 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 thereafter any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any remaining Prepayment Interest Shortfalls (to the extent not covered by payments pursuant Compensating Interest) relating to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to among REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II 1 Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) LT-1, LT-1X, LT-2, LT-2X, LT-3, LT-3X, LT-4, LT-4X, LT-5, LT-5X, LT-6, LT-6X, LT-7, LT-7X, LT-8, LT-8X, LT-9, LT-9X, LT-R, LT-RX, LT-P 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 firstLT-PX, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amountpro rata, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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 Accrued Interest, as calculated without application of each such REMIC II Regular Interestthis sentence; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (provided, however, that with respect to the extent not covered by payments by first three Distribution Dates, such amounts relating to the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Initial 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 REMIC 1 Regular Interests not bearing a designation ending in "X," and such amounts relating to the then applicable respective Subsequent Mortgage Loans shall be allocated to the REMIC II Remittance Rate on 1 Regular Interests bearing a designation ending in "X," in each case in the respective Uncertificated Balance of each such REMIC II Regular Interestorder and priority set forth above.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, first to REMIC I 1 Regular Interest I-LT1 Interests LT-1 and LT-1A and then to REMIC I 1 Regular Interest IInterests LT-2, LT-3, LT-4, LT-5, LT-6, LT-7, LT-8, LT-9, LT-10, LT-11, LT-12, LT-13, LT-14, LT-15, LT-16, LT-17, LT-18, LT-19, LT-20, LT-21, LT-22, LT-23, LT-24, LT-25, LT-26, LT-27, LT-28, LT-29, LT-30, XX-00, XX-LTIO-1X xxx XX-X, in xx each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Remittance 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I 1 Regular Interest; and (ii) provided, however, that with respect to the Group II first three Distribution Dates, such amounts relating to the Initial Mortgage Loans, first, Loans shall be allocated to the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest LT-1A) in the order and priority described above and such amounts relating to the Subsequent Mortgage Loans shall be allocated to REMIC I 1 Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. LT-1A. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II 2 Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of , any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant Compensating Interest) relating to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 II 2 Regular Interest II-LTAA MT-1 and REMIC II 2 Regular Interest II-LTZZ MT-11 up to an aggregate amount equal to the REMIC II 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any remaining Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant Compensating Interest) relating to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 firstamong REMIC 2 Regular Interests MT-1, to Uncertificated Interest payable to REMIC II Regular Interest IIMT-2, MT-3, MT-4, MT-5, MT-6, MT-7, MT-8, MT-9, MT-10, MT-11, MT-LT1SUB, REMIC II Regular Interest IIR and MT-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP, and REMIC II Regular Interest II-LTXXP, 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 Accrued Interest, as calculated without application of each such REMIC II Regular Interestthis sentence.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or by the Master Servicer pursuant to Section 4.19 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 CE Certificates, second, to the Class M-4 Certificates, third, to the Class M-3 Certificates, fourth, to the Class M-2 Certificates, fifth, to the Class M-1 Certificates and sixth, to the Class A Certificates, in each case based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable applicable, of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount thereof, as applicable. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or the Master Servicer pursuant to Section 4.19 4.19) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to the REMIC I Regular Interest I-LT1 I and then to the REMIC I Regular Interest I-LTIO-1Interests ending with the designation “B”, in each case pro rata based on, and to the extent of of, one month's ’s interest at the then applicable respective REMIC I Remittance Rate Rates on the respective Uncertificated Principal Balance Balances of each such Uncertificated REMIC I Regular Interest; , and (ii) with respect to the Group II Mortgage Loans, firstthen, to REMIC I Regular Interest I-LT2 Interests ending with the designation “A”, pro rata based on, and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of of, one month's ’s interest at the then applicable respective REMIC I Remittance Rate Rates on the respective Uncertificated Balance Balances of each such Uncertificated REMIC I Regular Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of : the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 3.23 of this Agreement or the Master Servicer pursuant to Section 4.194.19 of this Agreement) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to among REMIC II Regular Interest II-LTAA AA, REMIC II Regular Interest A, REMIC II Regular Interest M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest M-3, REMIC II Regular Interest M-4 and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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, ZZ 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.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (SunTrust Acquisition Closed-End Seconds Trust, Series 2007-1)

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Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class I-A Certificates, the Mezzanine Class I-S Certificates, the Class AGroup I Mezzanine Components and REMIC 5 Regular Interest LT5-IO Certificates IC and the Class CE Certificates REMIC 5 Regular Interest LT5-ICF for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and REMIC 5 Regular Interest LT5-IC to the extent of, of one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof of such Regular Interest and, thereafterthen, among the Class M-6 Certificates, Class M-5 I-A Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 I-S Certificates and the Class A Certificates, in that order, in each case Group I Mezzanine Components on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable Amount of each such Certificate or the respective Component Principal Balance of each such Component, and (2) thereafter to REMIC 5 Regular Interest LT5-ICF. 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, REMIC 5 Regular Interest LT5-IIC and REMIC 5 Regular Interest LTS-ICF for any Distribution Date, the aggregate amount of any Realized Losses allocated to Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred Group II Mortgage Loans for any Distribution Date shall be allocated first to REMIC 5 Regular Interest LT5-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, then, among the Class CE II-A Certificates, the Class II-S Certificates, the Class II-M1 Certificates and the Group II Mezzanine Components on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount thereofof each such Certificate or the respective Component Principal Balance of each such Component, and thereafter to REMIC 5 Regular Interest LT5-IICF. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class I-C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to REMIC 5 Regular Interest LT5-IC and REMIC 5 Regular Interest LT5-ICF 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. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class II-C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to REMIC 5 Regular Interest LT5-IIC and REMIC 5 Regular Interest LT5-IICF 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. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 1A Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred for any Distribution Date (i) in respect of those Group I Mortgage Loans with Adjusted Net Minimum Mortgage Rates of less than 5.25% shall be allocated to REMIC 1A Regular Interest LT1A-B and (ii) in respect of those Group I Mortgage Loans with Adjusted Net Minimum Mortgage Rates of 5.25% or greater shall be allocated first to REMIC Regular Interest LT1A-A, then to each of the REMIC 1A CF Interests in descending numerical order, 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 REMIC 1B Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred for any Distribution Date shall be allocated first to REMIC 1B Regular Interest LT1B-A, and then to each REMIC 1B CF Interest in descending numerical order, 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 (i) in respect of those Group I Mortgage Loans with Adjusted Net Minimum Mortgage Rates of less than 5.25% shall be allocated to REMIC 2 Regular Interest LT2A-B and (ii) in respect of those Group I Mortgage Loans with Adjusted Net Minimum Mortgage Rates of 5.25% or greater the Group I Mortgage Loans for any Distribution Date shall be allocated first to REMIC 2 Regular Interest LT2A-A, then to each REMIC 2 AS1 Interest in descending numerical order, and then to each REMIC 2 ACF Interest in descending numerical order, in each case to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance or Uncertificated Notional Amount of each such REMIC 2 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 II Mortgage Loans shall be allocated first to REMIC 2 Regular Interest LT2B-A, then to each REMIC 2 BS1 Interest in descending numerical order, and then to each REMIC 2 BCF Interest in descending numerical order, in each case to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 2 Pass-Through Rate on the respective Uncertificated Principal Balance or Uncertificated Notional Amount of each such REMIC 2 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 3 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans shall be allocated first to REMIC 3 Regular Interest LT3A, then to each REMIC 3 AS2 Interest in descending numerical order, then to each REMIC 3 AS1 Interest in descending numerical order, and then to each REMIC 3 ACF Interest in descending numerical order, in each case to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 3 Pass-Through Rate on the respective Uncertificated Principal Balance or Uncertificated Notional Amount of each such REMIC 3 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 3 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of those Group II Mortgage Loans shall be allocated first to REMIC 3 Regular Interest LT3B, then to each REMIC 3 BS2 Interest in descending numerical order, then to each REMIC 3 BS1 Interest in descending numerical order, and then to each REMIC 3 BCF Interest in descending numerical order, in each case to the extent of interest for the related Accrual Period at the then applicable respective Uncertificated REMIC 3 Pass-Through Rate on the respective Uncertificated Principal Balance or Uncertificated Notional Amount of each such REMIC 3 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 4 Group I Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Group I Mortgage Loans for any Distribution Date shall be allocated (i) with respect first, pro rata to REMIC 4 Regular Interest LT4A-1 and REMIC 4 Regular Interest LT4G-1, up to an aggregate amount equal to the REMIC 4 Group I Mortgage LoansInterest Loss Allocation Amount, first, to with allocations between REMIC I 4 Regular Interest I-LT1 LT4A-1 and then to REMIC I 4 Regular Interest I-LTIO-1LT4G-1 being made 98% and 2%, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loansrespectively. Then, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of 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 4 Regular Interest LT4A-1, REMIC 4 Regular Interest LT4B-1, REMIC 4 Regular Interest LT4C-1, REMIC 4 Regular Interest LT4D-1, REMIC 4 Regular Interest LT4E-1, REMIC 4 Regular Interest LT4F-1, REMIC 4 Regular Interest LT4G-1, the REMIC 4 AS-2 Interests, and the REMIC 4 AS-1 Interests. 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 to REMIC 4 Regular Interest LT4ACF. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC 4 Group II Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable pro rata to REMIC II 4 Regular Interest II-LTAA LT4A-2 and REMIC II 4 Regular Interest II-LTZZ LT4H-2, up to an aggregate amount equal to the REMIC 4 Group II Interest Loss Allocation Amount, with allocations between REMIC 4 Regular Interest LT4A-2 and REMIC 4 Regular Interest LT4H-2 being made 98% and 2%, respectively. Then, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Group II Mortgage Loans for any Distribution Date shall be allocated firstpro rata among REMIC 4 Regular Interest LT4A-2, to Uncertificated REMIC 4 Regular Interest payable LT4B-2, REMIC 4 Regular Interest LT4C-2, REMIC 4 Regular Interest LT4D-2, REMIC 4 Regular Interest LT4E-2, REMIC 4 Regular Interest LT4F-2, REMIC 4 Regular Interest LT4G-2, REMIC 4 Regular Interest LT4H-2, the REMIC 4 BS-2 Interests, and the REMIC 4 BS-1 Interests. 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 to REMIC II 4 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-LTXXLT4BCF. For purposes of the preceding paragraphs, pro rata allocations shall be based on, and to on interest for the extent of, one month's interest related Accrual Period at the then applicable respective Uncertificated REMIC II Remittance 4 Pass-Through Rate, Uncertificated REMIC 3 Pass-Through Rate, Uncertificated REMIC 2 Pass-Through Rate, Uncertificated REMIC 1A Pass-Through Rate or Uncertificated REMIC 1B Pass-Through Rate on the respective Uncertificated Principal Balance or Uncertificated Notional Amount of each such REMIC 4 Group I Regular Interest, REMIC 4 Group II Regular Interest, REMIC 3 Regular Interest, REMIC 2 Regular Interest, REMIC 1A Regular Interest or REMIC 1B Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Securities Corp Asset Backed Cert Ser 2002 2)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class I-A Certificates, the Mezzanine Class I-S Certificates, the Class AGroup I Mezzanine Components and REMIC 3 Regular Interest LT3-IO Certificates and the Class CE Certificates IC for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and 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 CE Certificates based on, and REMIC 3 Regular Interest LT3-IC to the extent of, of one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof of such Regular Interest and, thereafter, among the Class M-6 Certificates, Class M-5 I-A Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 I-S Certificates and the Class A Certificates, in that order, in each case Group I Mezzanine Components on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable Amount of each such Certificate or the respective Component Principal Balance of each such Component. 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 77 Mezzanine Components, the Class II-M4 Certificates and (2) REMIC 3 Regular Interest LT3-IIC for any Distribution Date, the aggregate amount of any Realized Losses allocated to Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred in respect of the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred Group II Mortgage Loans for any Distribution Date shall be allocated first, to REMIC 3 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 CE II-A Certificates, the Class II-S Certificates, the Class II-M1 Certificates, the Group II Mezzanine Components and the Class II-M4 Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount thereofof each such Certificate or the respective Component Principal Balance of each such Component. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class I-C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to REMIC 3 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. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class II-C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to REMIC 3 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. For purposes of calculating the amount of Uncertificated Accrued Interest for the Uncertificated REMIC I 1A Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred for any Distribution Date (i) in respect of those Group I Mortgage Loans with Adjusted Net Minimum Mortgage Rates of less than 5.25% shall be allocated to REMIC 1A Regular Interest LT1A-2 and (ii) in respect of those Group I Mortgage Loans with Adjusted Net Minimum Mortgage Rates of 5.25% or greater shall be allocated first to REMIC Regular Interest LT1A-1, second to REMIC 1A Regular Interest LT1A-5, third to REMIC 1A Regular Interest LT1A-4, and fourth to REMIC 1A Regular Interest LT1A-3, in each case to the extent not covered by payments pursuant 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 Uncertificated REMIC 1B Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls incurred for any Distribution Date (i) in respect of those Group II Mortgage Loans with Adjusted Net Minimum Mortgage Rates of less than 5.25% shall be allocated to Section 3.22 REMIC 1B Regular Interest LT1B-2 and (ii) in respect of those Group II Mortgage Loans with Adjusted Net Minimum Mortgage Rates of 5.25% or Section 4.19 greater shall be allocated first to REMIC 1B Regular Interest LT1B-1, second to REMIC 1B Regular Interest LT1B-5, third to REMIC 1B Regular Interest LT1B-4, and fourth to REMIC 1B Regular Interest LT1B-5, 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 Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable pro rata to REMIC II 2 Regular Interest II-LTAA LT2A-1 and REMIC II 2 Regular Interest II-LTZZ LT2E-1, up to an aggregate amount equal to the REMIC II 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, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of 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, REMIC 2 Regular Interest LT2S-1D, REMIC 2 Regular Interest LT2S-1E, and REMIC 2 Regular Xxxxxxxx XX0X-0X. 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 II Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable pro rata to REMIC II 2 Regular Interest II-LT1SUBLT2A-2 and REMIC 2 Regular Interest LT2J-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 LT2J-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 II 2 Regular Interest II-LT1GRPLT2B-2, REMIC II 2 Regular Interest II-LT2SUBLT2C-2, REMIC II 2 Regular Interest II-LT2GRPLT2D-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 LT2I-2, REMIC 2 Regular Interest LT2J-2, REMIC 2 Regular Interest LT2S-2A, REMIC 2 Regular Interest LT2S-2B, REMIC 2 Regular Interest LT2S-2C, REMIC 2 Regular Interest LT2S-2D, REMIC 2 Regular Interest LT2S-2E and REMIC II 2 Regular Interest II-LTXXXxxxxxxx XX0X-0X. For purposes of the preceding four paragraphs, pro rata allocations shall be based on, and to on interest for the extent of, one month's interest related Accrual Period at the then applicable respective Uncertificated REMIC II Remittance 2 Pass-Through Rate, Uncertificated REMIC 1A Pass-Through Rate or Uncertificated REMIC 1B Pass-Through Rate on the respective Uncertificated Principal Balance or Uncertificated Notional Amount of each such Uncertificated REMIC II 2 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 Trust 2002-1as Back Cert Ser 2002-1)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates X/N Interest and the Class CE X Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 3.24) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates X/N Interest based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 B Certificates, the Class M-2 Certificates, the Class M-1 Certificates and concurrently, to the Class A A-1 Certificates and the Class A-2 Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates X/N Interest on a PRO 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 thereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.193.24) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II I Regular Interest III-LTAA LT1 and REMIC II I Regular Interest III-LTZZ LT7 up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1I- LT2, REMIC II I Regular InterestInterest I-LT3, REMIC II I Regular Interest III-LTM1LT4, REMIC II I Regular Interest III-LTM2LT5, REMIC II I Regular Interest III-LTM3, LT6 and REMIC II I Regular Interest III-LTM4LT7, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 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 REMIC II I 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 Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 I Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ace Securities Corp Ho Eq Lo Tr Se 2001-Nc1 as Ba Pa Th Ce)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A CertificatesA, the Mezzanine Certificates, the and Class A-IO Certificates and the Class CE 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 related Servicer pursuant to Section 3.22 of this Agreement or pursuant to the Servicing Agreement or by the Master Servicer pursuant to Section 4.19 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 CE CE-1 Certificates, second, to the Class M-5 Certificates, third, to the Class M-4 Certificates, fourth, to the Class M-3 Certificates, fifth, to the Class M-2 Certificates, sixth, to the Class M-1 Certificates and seventh, to the Class A Certificates, in each case based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable applicable, of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE CE-1 Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount thereof, as applicable. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the related Servicer pursuant to Section 3.22 of this Agreement or the Servicing Agreement or by the Master Servicer pursuant to Section 4.19 of this Agreement) and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to among REMIC I Regular Interest I-LT1 and then to LTAA, REMIC I Regular Interest I-LTIO-1LTA, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to LTM1, REMIC I Regular Interest I-LTIO-2LTM2, in each case 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 of, one month's ’s interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd2)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine Certificates, the Class A-IO Certificates IO, Class M-1, Class M-2, Class B-1 and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls 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 Publicly Offered Certificates and Class B-1 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 not covered by payments by of, one month's interest at the Servicer pursuant then applicable Pass-Through Rate on the Certificate Notional Balance thereof, second to Section 3.22 or the Master Servicer pursuant Class B-1 Certificates, third to Section 4.19 the Class M-2 Certificates, and fourth to the Class M-1 Certificates, and following the Cross-Over Date to the Class A-1 Certificates and Class A-IO Certificates, on a pro rata basis. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 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 the Class CE Certificates based onREMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, and to the extent of, of one month's interest at the then applicable respective Uncertificated REMIC I Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Uncertificated Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Interest for the REMIC I Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 Interest; and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, firstthen, to REMIC I Regular Interest ILTI-LT1 and then to IO-A, REMIC I Regular Interest ILTI-LTIO-1IO-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 Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of , the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II Regular Interest IILTII-LTAA AA and REMIC II Regular Interest IILTII-LTZZ ZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest IILTII-LTA1, REMIC II Regular InterestA, REMIC II Regular Interest IILTII-LTM1M1, REMIC II Regular Interest IILTII-LTM2M2, REMIC II Regular Interest IILTII-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 B1 and REMIC II Regular Interest IILTII-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXZZ, pro rata based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest...

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Nomura Asset Acc Corp Alter Ln Tr Ser 2003-A3)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Class CE Certificates C Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE 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 82 Period at the then applicable respective Pass-Through Rate on the Notional respective Certificate 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 M-6 Certificates, Class M-5 CertificatesC 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 1 Regular Interests for any Distribution Date, the Class M-4 Certificatesaggregate 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 3 Interest Loss Allocation Amount, the Class M-3 Certificates98% and 2%, the Class M-2 Certificatesrespectively, the Class M-1 Certificates and the Class A Certificatesthereafter among XX, in that orderXX0, in each case on a PRO RATA basis XX0, IIA1, IIA2, IIIA1, IIIA1A, IIIA2, IIIA3, IIIA4, X0, X0, X0, X0, X0, X0, X0, X0, M9, M10, B1, B2, B3, ZZ and P, pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Uncertificated Principal Balance or Notional Amount, as applicable of each such Certificate and REMIC 3 Regular Interest; and (2b) the aggregate amount 50% of any Realized Losses allocated to Net Prepayment Interest and Relief Act Interest Shortfalls incurred in respect of the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred Mortgage Loans for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis REMIC 3 Regular Xxxxxxxx 0XXX, 0XXX, 0XXX, SUB GRP, and XX, pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofUncertificated Principal Balance of each such REMIC 3 Regular Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for among all the REMIC II 2 Regular Interests for any Distribution Date: (Aother than REMIC 2 Regular Interests FMR IO and P) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II 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 Mortgage Loans for any Distribution Date shall be allocated among all the REMIC 1 Regular Interests (other than REMIC 1 Regular Interest P) pro rata based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC 1 Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Long Beach Mortgage Loan Trust 2005-Wl2 Asset-Backed Certificates)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Class CE Certificates C Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and C Interest to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case the Mezzanine Certificates and the Class B Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) Certificate. For purposes of calculating the amount of the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates Net Prepayment Interest Shortfalls and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be Relief Act Interest Shortfalls allocated to the Class CE C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a PRO RATA pro rata basis based on, and to the extent of, on one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof’s interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 2 Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to and Relief Act Interest Shortfalls incurred in respect of the extent not covered by payments pursuant to Section 3.22 or Section 4.19 Mortgage Loans for any Distribution Date shall be allocated: (a) 50% of any Net Prepayment Interest and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to AA and ZZ up to an aggregate amount equal to the Group I Mortgage LoansREMIC 2 Interest Loss Allocation Amount, first98% and 2%, to REMIC I Regular Interest Irespectively, and thereafter among AA, X-LT1 XX, X-XXX0, X-XXX0, X-XXX0, X-XXX0, X0, X0, X0, X0, X0, X0, M7, M8, M9, B1, B2 and then to REMIC I Regular Interest I-LTIO-1ZZ, in each case pro rata based on, and to the extent of of, one month's ’s interest at the then applicable respective REMIC I Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I 2 Regular Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date:and (Ab) The REMIC II Marker Allocation Percentage of the aggregate amount 50% of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II 2 Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation AmountXxxxxxxx 0XXX, 98% and 2%0XXX, respectively1SUB, 2SUB, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXXX, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective REMIC II Remittance Pass-Through Rate on the respective Uncertificated Principal Balance of each such REMIC II 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

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Interest Distribution Amount for the Class CE Certificates L3-C Regular Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and L3-C Regular Interest to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Certificate Interest Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case the Class B Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Certificate Interest Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofCertificate. For purposes of calculating the amount of Uncertificated the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of Interest Distribution Amounts for the REMIC I II Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to and Relief Act Interest Shortfalls incurred in respect of the extent not covered by payments pursuant to Section 3.22 or Section 4.19 Mortgage Loans for any Distribution Date shall be allocated: (a) 50% of any Net Prepayment Interest and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest IClass L2-LT1 XX and then to REMIC I Regular Interest IL2-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II ZZ Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II the Class L2-XX, L2-1-A1, L2-2-A1, L2-2-A2, L2-2-A3, L2-2-A4, L2-M1, L2-M2, L2-M3, L2-M4, L2-M5, L2-M6, L2-M7, L2-M8, L2-M9, L2-B1, L2-B2, and L2-ZZ Regular Interest II-LTA1Interests, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-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 Certificate Interest Rate on the respective Uncertificated Class Principal Balance of each such REMIC II Regular Interest; and (Bb) The REMIC II Sub WAC Allocation Percentage of the aggregate amount 50% of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC 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 firstto the Class L2-1-GP, to Uncertificated Interest payable to REMIC II Regular Interest IIL2-LT1SUB2-GP, REMIC II Regular Interest IIL2-LT1GRP1-SB, REMIC II Regular Interest IIL2-LT2SUB, REMIC II Regular Interest II2-LT2GRPSB, and REMIC II Regular Interest IIL2-LTXXYY, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective REMIC II Remittance Certificate Interest Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.. For purposes of calculating the Interest Distribution Amounts for the REMIC I 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 I Regular Interests L1-Y-X 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 I Regular Interest L1-2-X.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He3)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO Certificates and the Class CE Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereof. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I 1 Regular Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 (net of any Compensating Interest Payment) and any Relief Act Interest Shortfalls Reductions incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, first to REMIC I 1 Regular Interest I-LT1 LT-1 and then to REMIC I 1 Regular Interest IInterests LT-2, LT-3, LT-4, LT-5, LT-6, LT-7, LT-8, LT-9, LT-10, LT-11, LT-12, LT-13, LT-14, LT-15, LT-16, LT-17, LT-18, LT-19, LT-20, LT-21, LT-22, LT-23, LT-24, LT-25, LT-26, LT-27, LT-28, LT-29, LT-30, LT-31, LT-32, LT-33, LT-34, LT-35, LT-36, XX-00, XX-LTIO-1X xxx XX-X, in xx each case to the extent of one month's interest at the then applicable respective Uncertificated REMIC I Remittance 1 Pass-Through Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I 1 Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC II 2 Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of , any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant Compensating Interest) relating to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 II 2 Regular Interest II-LTAA MT-1 and REMIC II 2 Regular Interest II-LTZZ MT-8 up to an aggregate amount equal to the REMIC II 2 Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any remaining Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant Compensating Interest) relating to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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 firstamong REMIC 2 Regular Interests MT-1, to Uncertificated Interest payable to REMIC II Regular Interest IIMT-2, MT-3, MT-4, MT-5, MT-6, MT-7, MT-8, MT-LT1SUB, REMIC II Regular Interest IIR and MT-LT1GRP, REMIC II Regular Interest II-LT2SUB, REMIC II Regular Interest II-LT2GRP, and REMIC II Regular Interest II-LTXXP, 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 Accrued Interest, as calculated without application of each such REMIC II Regular Interestthis sentence.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of the Accrued Certificate Interest and the amount of the Interest Distribution Amount for the Class A CertificatesA, the Mezzanine CertificatesClass X, the Class A-IO Certificates R and the Class CE B Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Net Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated among such Certificates in proportion to the amount of Interest Funds that would have been allocated to such Certificates in the absence of such Net Interest Shortfalls, and (2) the interest portion of Realized Losses shall be allocated first, to the Class CE Certificates based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the Notional Amount thereof and, thereafter, among the Class M-6 B-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid second to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated B-5 Certificates, third to the Class CE B-4 Certificates, fourth to the Class B-3 Certificates, fifth to the Class B-2 Certificates and sixth to the Class B-1 Certificates, and following the Cross-Over Date, fourth to the Senior Certificates, on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofpro rata basis. For purposes of calculating the amount of Uncertificated Accrued Interest for the Trust REMIC I Regular Interests (other than Trust REMIC Regular Interests P and PO) and the Class R Interest for any Distribution Date, the aggregate amount of any Prepayment Net Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect interest portion of the Mortgage Loans Realized Losses for any Distribution Date shall be allocated (i) with respect among such Trust REMIC Regular Interests and the Class R Interest as such amounts are allocable to the Group I Mortgage LoansCorresponding Certificates; provided, firsthowever, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For that solely for purposes of calculating the amount of Uncertificated Interest foregoing, any shortfalls or losses allocable on any Distribution Date to any Certificates that are the Corresponding Certificates for the two or more Trust REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any on such Distribution Date shall be allocated first, allocable to Uncertificated Interest payable to such Trust REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II Regular Interest II-LTA1, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-LTZZ PRO RATA based on, and to the extent of, one month's interest at the then applicable respective REMIC II Remittance Rate Interests 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 Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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, a 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 Interestbasis.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2007-Ac6)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass A-2, the Class A-IO Certificates X-0, Xxxxx X-0, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3, Class B-4 and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, in reduction of amounts otherwise distributable to the Class CE 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 respective Pass-Through Rate on the Certificate Notional Amount thereof andthereof, thereafter, among second to the Class M-6 B-4 Certificates, third to the Class M-5 B-3 Certificates, fourth to the Class M-4 B-2 Certificates, fifth to the Class B-1 Certificates, sixth to the Class M-3 Certificates, seventh to the Class M-2 Certificates, eighth to the Class M-1 Certificates and the Class A Certificates, in that orderand following the Cross-Over Date, ninth to the Senior Certificates in each case on a PRO RATA basis case, based on, and to the extent of, one month's ’s interest at the then applicable respective Pass-Through Rate Rates on the respective Certificate Principal Balance or Notional Amount, as applicable Balances of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofCertificate. For purposes of calculating the amount of Uncertificated Accrued Interest for the REMIC I Regular Interests (other than REMIC I Regular Interest P) for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1AA, REMIC II I Regular InterestInterest A-1, REMIC II I Regular Interest II-LTM1A-2, REMIC II I Regular Interest II-LTM2A-3, REMIC II I Regular Interest II-LTM3A-4, REMIC II I Regular Interest II-LTM4M-1, REMIC II I Regular Interest II-LTM5M-2, REMIC II I Regular Interest II-LTM6 M-3, 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 II I Regular Interest II-LTZZ 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; and (B) The REMIC II Sub WAC Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) 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-LTXXZZ, pro rata based on, and in proportion to the extent of, one month's interest at amount of the then applicable respective REMIC II Remittance Rate on the respective Uncertificated Balance of each Accrued Interest that would have been allocated to such REMIC II I Regular InterestInterests in the absence of such Unpaid Interest Shortfalls.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities I Trust 2005-Ac7)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A CertificatesA-1, the Mezzanine CertificatesClass A-2, the Class A-IO Certificates A-3, Class A-4, Class A-5, Claxx X-0, Xxxxx M-2, Class BA, Class BB and the Class CE C Certificates for any Distribution Date, (1) the aggregate amount of any Prepayment Unpaid Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated FIRST, in reduction of amounts otherwise distributable to the Class C Certificates and Class R Certificates, AND THEREAFTER among the Offered Certificates in proportion to the amount of the Monthly Interest Distributable Amount that would have been allocated to such Certificates in the absence of such Unpaid Interest Shortfalls and (2) the interest portion of Realized Losses for the Mortgage Loans will be allocated first, to the Class CE C Certificates 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 andBalance thereof, thereafter, among second to the Class M-6 BA Certificates and Class BB Certificates, Class M-5 Certificateson a pro rata basis, the Class M-4 Certificates, the Class M-3 Certificates, third to the Class M-2 Certificates, and fourth to the Class M-1 Certificates and the Class A Certificates, in that orderand following the Cross-Over Date to the Senior 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 Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofpro 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 Interest Shortfalls to the extent not covered by payments pursuant to Section 3.22 or Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest I-LT1 and then to REMIC I Regular Interest I-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Accrued Interest payable to REMIC II I Regular Interest II-LTAA AA and REMIC II I Regular Interest II-LTZZ ZZ up to an aggregate amount equal to the REMIC II I Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II I Regular Interest II-LTA1A-1, REMIC II I Regular InterestInterest A-2, REMIC II I Regular Interest II-LTM1A-3, REMIC II I Regular Interest II-LTM2A-4, REMIC II I Regular Interest II-LTM3M-1, REMIC II I Regular Interest II-LTM4M-2, REMIC II I Regular Interest II-LTM5BA, REMIC II I Regular Interest II-LTM6 BB and REMIC II I Regular Interest II-LTZZ PRO RATA ZZ, pro rata, based on, and to the extent of, one month's interest at the then applicable respective Uncertificated REMIC II Remittance 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 Interest; and (B) The REMIC II Sub WAC Allocation Percentage of Interests for any Distribution Date, the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Sub WAC Allocation Percentage of any Relief Act Unpaid Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable first to REMIC II Regular Interest II-LT1SUBC, and then, pro rata, to REMIC II Regular Interest A- 1, REMIC II Regular Interest II-LT1GRPA-2, REMIC II Regular Interest II-LT2SUBA-3, REMIC II Regular Interest II-LT2GRPA- 4, and REMIC II Regular Interest II-LTXXM-1, pro rata based onREMIC II Regular Interest M-2, REMIC II Regular Interest BA and REMIC I Regular Interest BB, in each case to the extent of, 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 (Bear Stearns Asset Backed Certs Series 2003-Ac6)

Allocation of Certain Interest Shortfalls. For purposes of calculating the amount of Accrued Certificate the Monthly Interest and the amount of the Interest Distribution Distributable Amount for the Class A Certificates, the Mezzanine Certificates, the Class A-IO B Certificates and the Interest Distribution Amount for the Class CE Certificates L3-C Regular Interest for any Distribution Date, (1) the aggregate amount of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19 and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, first to the Class CE Certificates based on, and L3-C Regular Interest to the extent of, of one month's ’s interest at the then applicable respective Pass-Through Certificate Interest Rate on the Notional Amount thereof andof such Regular Interest, thereafter, and then among the Class M-6 Certificates, Class M-5 Certificates, the Class M-4 Certificates, the Class M-3 Certificates, the Class M-2 Certificates, the Class M-1 Certificates and the Class A Certificates, in that order, in each case the Class B Certificates and the Mezzanine Certificates on a PRO RATA pro rata basis based on, and to the extent of, one month's interest for the related Accrual Period at the then applicable respective Pass-Through Certificate Interest Rate on the respective Certificate Principal Balance or Notional Amount, as applicable of each such Certificate and (2) the aggregate amount of any Realized Losses allocated to the Mezzanine Certificates and Net WAC Rate Carryover Amounts paid to the Class A Certificates and the Mezzanine Certificates incurred for any Distribution Date shall be allocated to the Class CE Certificates on a PRO RATA basis based on, and to the extent of, one month's interest at the then applicable respective Pass-Through Rate on the respective Notional Amount thereofCertificate. For purposes of calculating the amount of Uncertificated the Monthly Interest Distributable Amount for the Class C Certificates for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls and any Relief Act Interest Shortfalls allocated to the Class C Interest pursuant to the paragraph above shall be allocated among the Class C Certificates on a pro rata basis based on one month’s interest. For purposes of calculating the amount of Interest Distribution Amounts for the REMIC I II Regular Interests for any Distribution Date, the aggregate amount of any Net Prepayment Interest Shortfalls to and Relief Act Interest Shortfalls incurred in respect of the extent not covered by payments pursuant to Section 3.22 or Section 4.19 Mortgage Loans for any Distribution Date shall be allocated: (a) 50% of any Net Prepayment Interest and any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated (i) with respect to the Group I Mortgage Loans, first, to REMIC I Regular Interest IClass L2-LT1 XX and then to REMIC I Regular Interest IL2-LTIO-1, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Principal Balance of each such Uncertificated REMIC I Interest; and (ii) with respect to the Group II Mortgage Loans, first, to REMIC I Regular Interest I-LT2 and then to REMIC I Regular Interest I-LTIO-2, in each case to the extent of one month's interest at the then applicable respective REMIC I Remittance Rate on the respective Uncertificated Balance of each such Uncertificated REMIC I Interest. For purposes of calculating the amount of Uncertificated Interest for the REMIC II ZZ Regular Interests for any Distribution Date: (A) The REMIC II Marker Allocation Percentage of the aggregate amount of any Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC II Marker Allocation Percentage of any Relief Act Interest Shortfalls incurred in respect of the Mortgage Loans for any Distribution Date shall be allocated first, to Uncertificated Interest payable to REMIC II Regular Interest II-LTAA and REMIC II Regular Interest II-LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively, and thereafter among REMIC II the Class L2-XX, L2-1-A1, L2-2-A1, L2-2-A2, L2-M1, L2-M2, L2-M3, L2-M4, L2-M5, L2-M6, L2-M7, L2-M8, L2-M9, L2-B, and L2-ZZ Regular Interest II-LTA1Interests, REMIC II Regular Interest, REMIC II Regular Interest II-LTM1, REMIC II Regular Interest II-LTM2, REMIC II Regular Interest II-LTM3, REMIC II Regular Interest II-LTM4, REMIC II Regular Interest II-LTM5, REMIC II Regular Interest II-LTM6 and REMIC II Regular Interest II-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 Certificate Interest Rate on the respective Uncertificated Class Principal Balance of each such REMIC II Regular Interest; and (Bb) The REMIC II Sub WAC Allocation Percentage of the aggregate amount 50% of any Net Prepayment Interest Shortfalls (to the extent not covered by payments by the Servicer pursuant to Section 3.22 or the Master Servicer pursuant to Section 4.19) and the REMIC 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 firstto the Class L2-1-GP, to Uncertificated Interest payable to REMIC II Regular Interest IIL2-LT1SUB2-GP, REMIC II Regular Interest IIL2-LT1GRP1-SB, REMIC II Regular Interest IIL2-LT2SUB, REMIC II Regular Interest II2-LT2GRPSB, and REMIC II Regular Interest IIL2-LTXXYY, pro rata based on, and to the extent of, one month's ’s interest at the then applicable respective REMIC II Remittance Certificate Interest Rate on the respective Uncertificated Principal Balance of each such REMIC II Regular Interest.. For purposes of calculating the Interest Distribution Amounts for the REMIC I 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 I Regular Interests L1-Y-X 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 I Regular Interest L1-2-X.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Washington Mutual Asset-Backed Certificates, WMABS Series 2006-He4)

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