Common use of Allocation of Collateral Support Deficit Clause in Contracts

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, sixth, to the Class B Certificates, seventh, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 5 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C12), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C12), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C10)

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Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR [H] Certificates, ; second, to the Class F [G] Certificates, ; third, to the Class E [F] Certificates, ; fourth, to the Class D [E] Certificates, ; fifth, to the Class C [D] Certificates, ; sixth, to the Class B [C] Certificates, ; seventh, to the Class A-S [B] Certificates, in each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and theneighth, to the Class [A-1] Certificates and the Class [A-2] Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount Amounts of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class C Certificates, seventh, to the Class B Certificates, seventheighth, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-4 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C18), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C14), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C14)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans (or, with respect to the Componentized Mortgage Loans, excluding the related Non-Pooled Components) that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (or, with respect to the Componentized Mortgage Loans, excluding the related Non-Pooled Components) and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (other than the Loan-Specific Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. Loan-Specific Collateral Support Deficits with respect to a Componentized Mortgage Loan will be allocated, first, to the related Non-Pooled Component up to its principal balance and, then, to the related Pooled Component, with any such amounts allocated to the Pooled Component reducing the Stated Principal Balance of the related Componentized Mortgage Loan for purposes of the above calculation of Collateral Support Deficit. Loan-Specific Collateral Support Deficits will be applied to reduce the Certificate Balance of the related Class of Loan-Specific Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, sixth, to the Class B Certificates, seventh, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit or Loan-Specific Collateral Support Deficit, as applicable, allocated to a Class of Principal Balance Certificates or Class of Loan-Specific Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-Lc11), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-Lc11), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-Lc11)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR M Certificates; second, secondto the Class L Certificates; third, to the Class K Certificates; fourth, to the Class J Certificates; fifth, to the Class I Certificates; sixth, to the Class H Certificates; seventh, to the Class G Certificates; eighth, to the Class F Certificates, third; ninth, to the Class E Certificates, fourth; tenth, to the Class D Certificates, fifth; eleventh, to the Class C Certificates, sixth; twelfth, to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and thirteenth, to the Class A-S Certificates, A-1 Certificates and then, the Class A-2 Certificates pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Chase Commercial Mort Sec Corp Com Mor Pa Th Ce Ser 2000-1), Pooling and Servicing Agreement (Chase Manhattan Bk First Union Na Bk Com Mor Tr Ser 1999-1), Pooling and Servicing Agreement (Chase Commercial Mort Sec Corp Com Mor Pa Th Ce Ser 2000-2)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-2FL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-2FL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest, as applicable) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-2FL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-2FL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-2FL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or Class A-2FL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-2FL Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, ; fourteenth to the Class B Certificates, seventh, ; fifteenth to the Class A-S J Certificates; sixteenth to the Class A-M Certificates and seventeenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and thenthe Class A-1A Certificates and Class A-2FL Regular Interest, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates or the Class A-2FL Regular Interest, as applicable, have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-2FL, Class X, Class R, Class LR and Class S Certificates, ) or Class A-2FL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, and fourth, to the Class LA-1-4 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first, to the Class LA-2-1 Uncertificated Interest, second, to the Class LA-2-2 Uncertificated Interest, third, to the Class LA-2-3 Uncertificated Interest, fourth, to the Class LA-2-4 Uncertificated Interest, fifth, to the Class LA-2-5 Uncertificated Interest, and sixth, to the Class A-2-6 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-2FL Regular Interest, first, to the Class LA-2FL-1 Uncertificated Interest, second, to the Class LA-2FL-2 Uncertificated Interest, third, to the Class LA-2FL-3 Uncertificated Interest, fourth, to the Class LA-2FL-4 Uncertificated Interest, fifth, to the Class LA-2FL-5 Uncertificated Interest, and sixth, to the Class LA-2FL-6 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-3 Certificates, first, to the Class LA--1 Uncertificated Interest, and second, to the Class LA-3-2 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-4 Certificates, first, to the Class LA-4-1 Uncertificated Interest, second, to the Class LA-4-2 Uncertificated Interest, third, to the Class LA-4-3 Uncertificated Interest, fourth, to the Class LA-4-4 Uncertificated Interest, fifth, to the Class LA-4-5 Uncertificated Interest and sixth, to the Class LA-4-6 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, and sixth, to the Class LA-SB-6 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class D Certificates, first, to the Class LD-1 Uncertificated Interest, second, to the Class LD-2 Uncertificated Interest and third, to the Class LD-3 Uncertificated Interest, (ix) the Class E Certificates, first, to the Class LE-1 Uncertificated Interest, second, to the Class LE-2 Uncertificated Interest, and third, to the Class LE-3 Uncertificated Interest, in each case, until reduced to zero, (x) the Class F Certificates, first, to the Class LF-1 Uncertificated Interest, second, to the Class LF-2 Uncertificated Interest, and third, to the Class LF-3 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest, and second, to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (xii) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest, second, to the Class LH-2 Uncertificated Interest and third, to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero, and (xiii) the Class K Certificates, first, to the Class LK-1 Uncertificated Interest, and second, to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (iX)(i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan or Trust Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”) and (Y) with respect to each Trust Companion Loan (i) the Stated Principal Balance of such Trust Companion Loan (including the assumed Stated Principal Balance if such Trust Companion Loan has become an REO Loan) expected to be outstanding immediately following such Distribution Date is less than (ii) the aggregate Certificate Balance of the related Class of Loan-Specific Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of any applicable Loan-Specific Certificate Deferred Interest pursuant to Section 4.06 (any such deficit with respect to the Class UH5 Certificates, the “Class UH5 Collateral Support Deficit”, any such deficit with respect to the Class WYA Certificates, the “Class WYA Collateral Support Deficit” and any such deficit with respect to the Class RIM Certificates, the “Class RIM Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates or of Loan-Specific Collateral Support Deficit to the related Class of Loan-Specific Certificates, as applicable, shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit or Loan-Specific Collateral Support Deficit, as applicable, so allocated pursuant to the preceding two sentences to a Class of Regular Certificates or Loan-Specific Certificates, as applicable, shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit or Loan-Specific Collateral Support Deficit, as applicable, shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit or Loan-Specific Collateral Support Deficit, as applicable, will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, sixth, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. On each Distribution Date, the Certificate Balance of any Class of Loan-Specific Certificates will be reduced without distribution as a write-off to the extent of any Loan-Specific Collateral Support Deficit attributable to the relate Trust Companion Loan in accordance with Section 4.04(a). Any such write-off with respect to a Trust Companion Loan shall be allocated to the related Class of Loan-Specific Certificates until the remaining Certificate Balance of such Class has been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C25), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C24), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C23)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans (or, with respect to the Componentized Mortgage Loan, excluding the related Non-Pooled Component) that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (or, with respect to the Componentized Mortgage Loan, excluding the related Non-Pooled Component) and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, sixth, to the Class B Certificates, seventh, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.is

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2014-C20), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C19), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C19)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, sixth, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4A-4A1, Class A-4A2, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C19), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C18)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two three sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, sixth, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-4 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C18), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C17)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventh, Certificates and fifteenth to the Class A-S A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, and thenthe Class A-1A Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2004-C2), Pooling and Servicing Agreement (J.P.Morgan Chase Commercial Mortgage Securities Series 2004-Cibc9)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Subordinate Companion Loan, if applicable) ), expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (other than the Class A-4FX and Class A-4FL Certificates) and the Class A-4FL/4FX Regular Interest, after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (excluding the Class A-4FX and Class A-4FL Certificates) and the Class A-4FL/4FX Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit so allocated to the Class A-4FL/4FX Regular Interest shall be allocated, pro rata (based upon their respective Class Percentage Interest immediately prior to such Distribution Date), as a reduction of the Certificate Balance of the Class A-4FX and Class A-4FL Certificates. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates or Class A-4FL/4FX Regular Interest in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates (other than the Class A-4FX and Class A-4FL Certificates) and the Class A-4FL/4FX Regular Interest, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates or the Class A-4FL/4FX Regular Interest. Any amount of reimbursements allocated to the Class A-4FL/4FX Regular Interest pursuant to this Section 4.04(a) shall be allocated to the Class A-4FX and Class A-4FL Certificates, pro rata, based upon their respective Certificate Balances. If the Certificate Balance of any Class of Principal Balance Certificates or Class A-4FL/4FX Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Principal Balance Certificates or the Class A-4FL/4FX Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates (other than the Class A-4FX and Class A-4FL Certificates) and the Class A-4FL/4FX Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-4FL/4FX Regular Interest, as applicable, with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class C Certificates, seventh, to the Class B Certificates, seventheighth, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-3 and Class A-SB CertificatesA-4 Certificates and the Class A-4FL/4FX Regular Interest, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. Any Collateral Support Deficit so allocated to the Class A-4FL/4FX Regular Interest on any Distribution Date shall be allocated between the Class A-4FX and Class A-4FL Certificates, in accordance with their respective Certificate Balances. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-4FX and Class A-4FL Certificates) or Class A-4FL/4FX Regular Interest, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Cibx), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Cibx)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F H Certificates, third, to the Class E G Certificates, fourth, to the Class D F Certificates, fifth, to the Class C E Certificates, sixth, to the Class D Certificates, seventh, to the Class C Certificates, eighth, to the Class B Certificates, seventhninth, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-3 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C6), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C6)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class C Certificates, seventh, to the Class B Certificates, seventheighth, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-3 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2011-C5), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2011-C5)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates to Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class B C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, eighth, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-3 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C8), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-C8)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-2FL Certificates) and Class A-2FL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-2FL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-2FL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-2FL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-2FL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-2FL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or the Class A-2FL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-2FL Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, to the Class NR Certificates; second, secondto the Class T Certificates; third, to the Class Q Certificates; fourth, to the Class P Certificates; fifth, to the Class N Certificates; sixth, to the Class M Certificates; seventh, to the Class L Certificates; eighth, to the Class K Certificates; ninth, to the Class J Certificates; tenth, to the Class H Certificates; eleventh, to the Class G Certificates; twelfth, to the Class F Certificates, third; thirteenth, to the Class E Certificates, fourth; fourteenth, to the Class D Certificates, fifth; fifteenth, to the Class C Certificates, sixth; sixteenth, to the Class B Certificates, seventh; seventeenth, to the Class A-S J Certificates; eighteenth, to the Class A-M Certificates and nineteenth, to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and thenthe Class A-1A Certificates and the Class A-2FL Regular Interest, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates or the Class A-2FL Regular Interest, as applicable, have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-2FL, Class X, Class R, Class LR and Class S Certificates, ) or Class A-2FL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Ldp11), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Ldp11)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, sixth, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C22), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, sixth, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-4 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C16), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C16)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-2SFL Certificates and the Class A-JFL Certificates) and the Class A-2SFL Regular Interest and the Class A-JFL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-2SFL Certificates and the Class A-JFL Certificates) and the Class A-2SFL Regular Interest or the Class A-JFL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-2SFL Regular Interest or the Class A-JFL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-2SFL Certificates and the Class A-JFL Certificates, respectively. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-2SFL Certificates and the Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2SFL Regular Interest or the Class A-JFL Regular Interest, as applicable) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-2SFL Certificates and the Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2SFL or Class A-JFL Regular Interest, as applicable) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group R-1 Principal Distribution Amount, Loan Group R-2 Principal Distribution Amount, Loan Group R Principal Distribution Amount or Loan Group S Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-2SFL Regular Interest or Class A-JFL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-2SFL Regular Interest or Class A-JFL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or such Class of Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class A-2SFL Certificates and the Class A-JFL Certificates) and the Class A-2SFL Regular Interest and the Class A-JFL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or such Class of Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth, secondto the Class H Certificates and the Class H-S Certificates, pro rata (based upon their respective Certificate Balances); ninth, to the Class G Certificates and Class G-S Certificates, pro rata (based upon their respective Certificate Balances); tenth, to the Class F Certificates and the Class F-S Certificates, thirdpro rata (based upon their respective Certificate Balances); eleventh, to the Class E Certificates and the Class E-S Certificates, fourthpro rata (based upon their respective Certificate Balances); twelfth, to the Class D Certificates and the Class D-S Certificates, fifthpro rata (based upon their respective Certificate Balances); thirteenth, to the Class C Certificates and the Class C-S Certificates, sixth, pro rata (based upon their respective Certificate Balances); fourteenth to the Class B Certificates and the Class B-S Certificates, seventhpro rata (based upon their respective Certificate Balances); fifteenth to the Class A-J Certificates, the Class A-JS Certificates and Class A-JFL Regular Interest, pro rata (based upon their respective Certificate Balances); sixteenth, to the Class A-S M Certificates and Class A-MS Certificates, and then, pro rata (based on upon their respective Certificate Balances) and seventeenth to the Class A-1 Certificates, Class A-1S Certificates, Class A-2 Certificates, Class A-2S Certificates, Class A-3 Certificates, Class A-3S Certificates, Class A-1A Certificates and Class A-2SFL Regular Interest, pro rata (based upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates or such Classes of Regular Interest, as applicable, have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-2SFL, Class A-JFL, Class S, Class X, Class R and Class LR Certificates, ) or Class A-2SFL Regular Interest or Class A-JFL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the LowerMiddle-Tier Principal Amount of the Related Uncertificated LowerMiddle-Tier Interest with respect thereto as a write-off. (d) With respect to any Distribution Date, (i) any losses determined to be allocable to Mortgage Loans in Loan Group R following a Final Recovery Determination shall be allocated first to the Class L-RQ Uncertificated Interest until reduced to zero and then, to the Class L-RB Uncertificated Interest until reduced to zero, and (ii) any losses determined to be allocable to Mortgage Loans in Loan Group S following a Final Recovery Determination shall be allocated first to the Class L-SQ Uncertificated Interest until reduced to zero, and then to the Class L-SB Uncertificated Interest until reduced to zero.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Ldp10), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Ldp10)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates; second to the Class O Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates, second, tenth to the Class F Certificates, third, eleventh to the Class E Certificates, fourth, twelfth to the Class D Certificates, fifth, thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventh, fifteenth to the Class A-S J Certificates, and thensixteenth to the Class A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4A Certificates, the Class A-4B Certificates, the Class A-SB Certificates and the Class A-1A Certificates, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero; provided that any Collateral Support Deficit amounts allocated hereunder to the Class A-4A and the Class A-4B Certificates will be allocated first to the Class A-4B Certificates and then to the Class A-4A Certificates. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, and fourth, to the Class LA-1-4 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first, to the Class LA-2-1 Uncertificated Interest, second, to the Class LA-2-2 Uncertificated Interest, third, to the Class LA-2-3 Uncertificated Interest, and fourth, to the Class LA-2-4 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-3 Certificates, first, to the Class LA-3-1 Uncertificated Interest, second, to the Class LA-3-2 Uncertificated Interest, third, to the Class LA-3-3 Uncertificated Interest, fourth, to the Class LA-3-4 Uncertificated Interest, fifth, to the Class LA-3-5 Uncertificated Interest, sixth, to the Class LA-3-6 Uncertificated Interest and seventh, to the Class LA-3-7 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-4A Certificates, first, to the Class LA-4A-1 Uncertificated Interest, second, to the Class LA-4A-2 Uncertificated Interest, and third, to the Class LA-4A-3 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, and sixth, to the Class LA-SB-6 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class E Certificates, first, to the Class LE-1 Uncertificated Interest, second, to the Class LE-2 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class F Certificates, first, to the Class LF-1 Uncertificated Interest, second, to the Class LF-2 Uncertificated Interest, and third, to the Class LF-3 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest, and second, to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (x) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest, second, to the Class LH-2 Uncertificated Interest and third, to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero and (xi) the Class K Certificates, first, to the Class LK-1 Uncertificated Interest, and second, to the Class LK-2 Uncertificated Interest, in each case until reduced to zero.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp Series 2005-Ldp3), Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp Series 2005-Ldp3)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-2SFL Certificates and the Class A-3SFL Certificates) and the Class A-2SFL Regular Interest and the Class A-3SFL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-2SFL Certificates and the Class A-3SFL Certificates) and the Class A-2SFL Regular Interest or the Class A-3SFL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-2SFL Regular Interest or the Class A-3SFL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-2SFL Certificates and the Class A-3SFL Certificates, respectively. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-2SFL Certificates and the Class A-3SFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2SFL Regular Interest or the Class A-3SFL Regular Interest, as applicable) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-2SFL Certificates and the Class A-3SFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class of Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group R-1 Principal Distribution Amount, Loan Group R-2 Principal Distribution Amount, Loan Group R Principal Distribution Amount or Loan Group S Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-2SFL Regular Interest or Class A-3SFL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-2SFL Regular Interest or Class A-3SFL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or such Class of Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class A-2SFL Certificates and the Class A-3SFL Certificates) and the Class A-2SFL Regular Interest and the Class A-3SFL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or such Class of Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth, secondto the Class H Certificates and the Class H-S Certificates, pro rata (based upon their respective Certificate Balances); ninth, to the Class G Certificates and Class G-S Certificates, pro rata (based upon their respective Certificate Balances); tenth, to the Class F Certificates and the Class F-S Certificates, thirdpro rata (based upon their respective Certificate Balances); eleventh, to the Class E Certificates and the Class E-S Certificates, fourthpro rata (based upon their respective Certificate Balances); twelfth, to the Class D Certificates and the Class D-S Certificates, fifthpro rata (based upon their respective Certificate Balances); thirteenth, to the Class C Certificates and the Class C-S Certificates, sixth, pro rata (based upon their respective Certificate Balances); fourteenth to the Class B Certificates and the Class B-S Certificates, seventhpro rata (based upon their respective Certificate Balances); fifteenth to the Class A-J Certificates and the Class A-JS Certificates, pro rata (based upon their respective Certificate Balances); sixteenth, to the Class A-S M Certificates and Class A-MS Certificates, and then, pro rata (based on upon their respective Certificate Balances) and seventeenth to the Class A-1 Certificates, Class A-1S Certificates, Class A-2 Certificates, Class A-2S Certificates, Class A-3 Certificates, Class A-1A Certificates and Class A-2SFL Regular Interest and Class A-3SFL Regular Interest, pro rata (based upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates or such Classes of Regular Interest, as applicable, have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-2SFL, Class A-3SFL, Class X, Class R and Class LR Certificates, ) or Class A-2SFL Regular Interest or Class A-3SFL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the LowerMiddle-Tier Principal Amount of the Related Uncertificated LowerMiddle-Tier Interest with respect thereto as a write-off. (d) With respect to any Distribution Date, (i) any losses determined to be allocable to Mortgage Loans in Loan Group R following a Final Recovery Determination shall be allocated first to the Class L-RQ Uncertificated Interest until reduced to zero and then, to the Class L-RB Uncertificated Interest until reduced to zero, and (ii) any losses determined to be allocable to Mortgage Loans in Loan Group S following a Final Recovery Determination shall be allocated first to the Class L-SQ Uncertificated Interest until reduced to zero, and then to the Class L-SB Uncertificated Interest until reduced to zero.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-Ldp9), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-Ldp9)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR J Certificates; second, secondto the Class I Certificates; third, to the Class H Certificates; fourth, to the Class G Certificates; fifth, to the Class F Certificates, third; sixth, to the Class E Certificates, fourth; seventh, to the Class D Certificates, fifth; eighth, to the Class C Certificates, sixth; ninth, to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and tenth, to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Commercial Mortgage Securities Corp), Pooling and Servicing Agreement (Chase Commercial Mortgage Securities Corp)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class B C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, eighth, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3A-3A1, Class A-4A-3A2, Class A-4A1, Class A-4A2, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C21), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2014-C20)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates to Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class B C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, eighth, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Lc9), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2012-Lc9)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, sixth, to the Class B Certificates, seventh, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-4 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C13), Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2013-C13)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (iX)(i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan or the Trust Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”); and (Y)(i) the Stated Principal Balance of the Trust Companion Loan (including the assumed Stated Principal Balance if such Trust Companion Loan has become an REO Loan) expected to be outstanding immediately following such Distribution Date is less than (ii) the aggregate Certificate Balance of the Class UHP Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Class UHP Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Class UHP Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates or of Class UHP Collateral Support Deficit to the Class UHP Certificates, as applicable, shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit or Class UHP Collateral Support Deficit, as applicable, so allocated pursuant to the preceding two sentences to a Class of Regular Certificates or the Class UHP Certificates, as applicable, shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit or Class UHP Collateral Support Deficit, as applicable, shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit or Class UHP Collateral Support Deficit, as applicable, will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F G Certificates, third, to the Class E F Certificates, fourth, to the Class D E Certificates, fifth, to the Class C D Certificates, sixth, to the Class B C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, eighth, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3A-3A1, Class A-4A-3A2, Class A-5 A-4 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. On each Distribution Date, the Certificate Balance of the Class UHP Certificates will be reduced without distribution as a write-off to the extent of any Class UHP Collateral Support Deficit attributable to the Trust Companion Loan in accordance with Section 4.04(a). Any such write-off with respect to the Trust Companion Loan shall be allocated to the Class UHP Certificates until the remaining Certificate Balance of the Class UHP Certificates has been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C23), Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C22)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (other than the Houston Galleria Trust Subordinate Companion Loan), and any REO Loans (excluding any portion allocable other than an REO Loan related to any related the Houston Galleria Trust Subordinate Companion Loan, if applicable) of the Mortgage Loans and any REO Loans expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-2FL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-2FL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-2FL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-2FL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or Class A-2FL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates and the Class A-2FL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-2FL Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates; second to the Class Q Certificates, secondthird to the Class P Certificates, fourth to the Class O Certificates; fifth to the Class N Certificates; sixth to the Class M Certificates; seventh to the Class L Certificates; eighth to the Class K Certificates; ninth to the Class J Certificates; tenth to the Class H Certificates; eleventh to the Class G Certificates; twelfth to the Class F Certificates, third, ; thirteenth to the Class E Certificates, fourth, ; fourteenth to the Class D Certificates, fifth, ; fifteenth to the Class C Certificates, sixth, ; sixteenth to the Class B Certificates, seventh, ; seventeenth to the Class A-S J Certificates; eighteenth to the Class A-M Certificates; and nineteenth to the Class A-1 Certificates, Class A-2FL Regular Interest (and thencorrespondingly to the Class A-2FL Certificates), Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, the Class A-SB Certificates and the Class A-1A Certificates, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates or Class A-2FL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, fourth, to the Class LA-1-4 Uncertificated Interest, and fifth, to the Class LA-1-5 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2FL Regular Interest, first, to the Class LA-2FL-1 Uncertificated Interest, second, to the Class LA-2FL-2 Uncertificated Interest, and third, to the Class LA-2FL-3 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-2 Certificates, first, to the Class LA-2-1 Uncertificated Interest, and second, to the Class LA-2-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-3 Certificates, first, to the Class LA-3-1 Uncertificated Interest, and second, to the Class LA-3-2 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-4 Certificates, first, to the Class LA-4-1 Uncertificated Interest, second, to the Class LA-4-2 Uncertificated Interest, third, to the Class LA-4-3 Uncertificated Interest, fourth, to the Class LA-4-4 Uncertificated Interest, fifth, to the Class LA-4-5 Uncertificated Interest, sixth, to the Class LA-4-6 Uncertificated Interest and seventh, to the Class LA-4-7 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, and sixth, to the Class LA-SB-6 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest, second, to the Class LG-2 Uncertificated Interest, and third, to the Class LG-3 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest, second, to the Class LH-2 Uncertificated Interest, and third, to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero, (x) the Class J Certificates, first, to the Class LJ-1 Uncertificated Interest, second, to the Class LJ-2 Uncertificated Interest, and third, to the Class LJ-3 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class K Certificates, first, to the Class LK-1 Uncertificated Interest, second, to the Class LK-2 Uncertificated Interest and third, to the Class LK-3 Uncertificated Interest, in each case, until reduced to zero, (xii) the Class L Certificates, first, to the Class LL-1 Uncertificated Interest, and second, to the Class LL-2 Uncertificated Interest, in each case until reduced to zero, (xiii) the Class M Certificates, first to the Class LM-1 Uncertificated Interest, and second, to the Class LM-2 Uncertificated Interest, in each case until reduced to zero, and (xiv) the Class Q Certificates, first to the Class LQ-1 Uncertificated Interest, and second, to the Class LQ-2 Uncertificated Interest, in each case until reduced to zero. (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Trustee shall calculate the amount, if any, by which (i) the Stated Principal Balance of the Houston Galleria Trust Subordinate Companion Loan and any related REO Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Class HG Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.05 (any such deficit, the "Houston Galleria Collateral Support Deficit"). Any allocation of Houston Galleria Collateral Support Deficit to a Class of Class HG Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated pursuant to Section 4.04(e). Any Houston Galleria Collateral Support Deficit allocated to a Class of Class HG Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Houston Galleria Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund with respect to the Houston Galleria Trust Subordinate Companion Loan. Reimbursement of previously allocated Houston Galleria Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. (e) On each Distribution Date, the Certificate Balances of the Class HG Certificates will be reduced without distribution as a write-off to the extent of any Houston Galleria Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write-off shall be allocated among the respective Certificates as follows: first, to the Class HG-5 Certificates; second, to the Class HG-4 Certificates; third, to the Class HG-3 Certificates; fourth, to the Class HG-2 Certificates, and fifth, to the Class HG-1 Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (f) With respect to any Distribution Date, any Houston Galleria Collateral Support Deficit allocated to a Class of Class HG Certificates pursuant to Section 4.04(e) with respect to such Distribution Date shall reduce each of the Lower Tier Principal Amount of the Related Uncertificated Lower Tier Interest with respect thereto as a write off.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp. Series 2005-Ldp5), Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp. Series 2005-Ldp5)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (iX)(i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan or ESK Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (for the avoidance of doubt, without regard to any exchange and conversion of the Exchangeable Certificates for Class EC Certificates) after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”) and (Y) with respect to the ESK Companion Loan (i) the Stated Principal Balance of such ESK Companion Loan (including the assumed Stated Principal Balance if such ESK Companion Loan has become an REO Loan) expected to be outstanding immediately following such Distribution Date is less than (ii) the aggregate Certificate Balance of the Class ESK Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of any Class ESK Certificate Deferred Interest pursuant to Section 4.06 (the “Class ESK Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates or of Class ESK Collateral Support Deficit to the Class ESK Certificates, as applicable, shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit or Class ESK Collateral Support Deficit, as applicable, so allocated pursuant to the preceding two sentences to a Class of Regular Certificates or Class ESK Certificates, as applicable, shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit or Class ESK Collateral Support Deficit, as applicable, shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit or Class ESK Collateral Support Deficit, as applicable, will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, sixth, to the Class B Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, seventh, to the Class A-S Certificates, without regard to the exchange and conversion of the Exchangeable Certificates for Class EC Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4A-4A1, Class A-4A2, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. On each Distribution Date, the Certificate Balance of the Class ESK Certificates will be reduced without distribution as a write-off to the extent of any Class ESK Collateral Support Deficit attributable to the ESK Companion Loan in accordance with Section 4.04(a). Any such write-off with respect to the ESK Companion Loan shall be allocated to the Class ESK Certificates until the remaining Certificate Balance of such Class has been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) With respect to each Class of Exchangeable Certificates and the Class EC Certificates, for purposes of determining allocations and distributions under Section 4.01(a) of this Agreement as between the Exchangeable Certificates and the Class EC Certificates and this Section 4.04, all allocations of Collateral Support Deficit to each Class of Exchangeable Certificates for any Distribution Date shall be determined without regard to any exchange of such Exchangeable Certificates for Class EC Certificates; provided, however, that all amounts of Collateral Support Deficit that would otherwise be allocable to Exchangeable Certificates that have been exchanged for Class EC Certificates shall be allocated to such Class EC Certificates, without duplication.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2014-C24)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee or the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR K Certificates; second to the Class J Certificates; third, secondto the Class I Certificates; fourth, to the Class H Certificates; fifth, to the Class G Certificates; sixth, to the Class F Certificates, third; seventh, to the Class E Certificates, fourth; eighth, to the Class D Certificates, fifth; ninth, to the Class C Certificates, sixth; tenth, to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and tenth, to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (or in the case of the Republic Plaza Mortgage Loan, the Republic Plaza Mortgage Loan Pooled Balance of the Republic Plaza Pooled Component after giving effect to any allocations of the Republic Plaza Mortgage Loan Collateral Support Deficit to the Republic Plaza Mortgage Loan Pooled Component on such Distribution Date) and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventh, Certificates and fifteenth to the Class A-S A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, and thenthe Class A-1A Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off. (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Republic Plaza Mortgage Loan that were used to reimburse any Workout Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Republic Plaza Mortgage Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the sum of (A) the Republic Plaza Pooled Balance of the Republic Plaza Pooled Component and (B) the then aggregate Certificate Balance of the Class RP Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Republic Plaza Collateral Support Deficit"). On each Distribution Date, the Certificate Balances of the Class RP Certificates and the Republic Plaza Pooled Balance of the Republic Plaza Pooled Component will be reduced without distribution as a write-off to the extent of any Republic Plaza Collateral Support Deficit, if any, allocable to such Certificates or Republic Plaza Pooled Component with respect to such Distribution Date. Any such write-offs shall be allocated first to the Class KRP-5 Uncertificated Interest; second to the Class KRP-4 Uncertificated Interest; third to the Class KRP-3 Uncertificated Interest; fourth to the Class KRP-2 Uncertified Interest; fifth to the Class KRP-1 Uncertified Interest and sixth to the Loan REMIC Pooled Regular Interest, in each case in reduction of the Loan REMIC Principal Amount thereof, until such Loan REMIC Principal Amount has been reduced to zero. Republic Plaza Collateral Support Deficits allocated to the Loan REMIC Non-Pooled Regular Interests will be allocated to the Related Uncertificated Lower-Tier Regular Interests, in each case in reduction of the Lower-Tier Principal Amount thereof, until such Lower-Tier Principal Amount has been reduced to zero, and correspondingly to the Related Certificates, until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2004-C2)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee or the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, 135 if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR K Certificates; second to the Class J Certificates; third, secondto the Class I Certificates; fourth, to the Class H Certificates; fifth, to the Class G Certificates; sixth, to the Class F Certificates, third; seventh, to the Class E Certificates, fourth; eighth, to the Class D Certificates, fifth; ninth, to the Class C Certificates, sixth; tenth, to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and tenth, to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-2FL Certificates) and the Class A-2FL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-2FL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-2FL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-2FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-2FL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-2FL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-2FL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-2FL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or Class A-2FL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates and the Class A-2FL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-2FL Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates, second, tenth to the Class F Certificates, third, eleventh to the Class E Certificates, fourth, twelfth to the Class D Certificates, fifth, thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventhfifteenth to the Class A-J Certificates, sixteenth, to the Class A-S M Certificates and seventeenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-2FL Regular Interest (and thencorrespondingly to the Class A-2FL Certificates), Class A-3A1 Certificates, Class A-3A2 Certificates, Class A-4 Certificates, Class A-SB Certificates and the Class A-1A Certificates, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates or Class A-2FL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, and fourth, to the Class LA-1-4 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first, to the Class LA-2-1 Uncertificated Interest, and second, to the Class LA-2-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-2FL Regular Interest, first, to the Class LA-2FL-1 Uncertificated Interest, and second, to the Class LA-2FL-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-3A1 Certificates, first, to the Class LA-3A1-1 Uncertificated Interest, second, to the Class LA-3A1-2 Uncertificated Interest, third, to the Class LA-3A1-3 Uncertificated Interest and fourth, to the Class LA-3A1-4 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-3A2 Certificates, first, to the Class LA-3A2-1 Uncertificated Interest, second, to the Class LA-3A2-2 Uncertificated Interest, and third, to the Class LA-3A2-3 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class A-4 Certificates, first, to the Class LA-4-1 Uncertificated Interest, second, to the Class LA-4-2 Uncertificated Interest, third, to the Class LA-4-3 Uncertificated Interest, fourth, to the Class LA-4-4 Uncertificated Interest, fifth, to the Class LA-4-5 Uncertificated Interest, and sixth, to the Class LA-4-6 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, and sixth, to the Class LA-SB-6 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class D Certificates, first, to the Class LD-1 Uncertificated Interest, second, to the Class LD-2 Uncertificated Interest, third, to the Class LD-3 Uncertificated Interest and fourth, to the Class LD-4 Uncertificated Interest, in each case, until reduced to zero, (x) the Class E Certificates, first, to the Class LE-1 Uncertificated Interest, and second, to the Class LE-2 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class F Certificates, first, to the Class LF-1 Uncertificated Interest, second, to the Class LF-2 Uncertificated Interest, and third, to the Class LF-3 Uncertificated Interest, in each case, until reduced to zero, (xii) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest, second, to the Class LG-2 Uncertificated Interest and third, to the Class LG-3 Uncertificated Interest, in each case, until reduced to zero, (xiii) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest, and second, to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, (xiv) the Class K Certificates, first, to the Class LK-1 Uncertificated Interest, and second, to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero and (xv) the Class M Certificates, first, to the Class LM-1 Uncertificated Interest, and second, to the Class LM-2 Uncertificated Interest, in each case, until reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp Series 2005-Ldp4)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Certificates (other than the Class A-2FX and Class A-2FL Certificates) and the Class A-2FL/2FX Regular Interest, after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the “Collateral Support Deficit”). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (excluding the Class A-2FX and Class A-2FL Certificates) and the Class A-2FL/2FX Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit so allocated to the Class A-2FL/2FX Regular Interest shall be allocated, pro rata (based upon their respective Class Percentage Interest immediately prior to such Distribution Date), as a reduction of the Certificate Balance of the Class A-2FX and Class A-2FL Certificates. Any Collateral Support Deficit allocated pursuant to the preceding two three sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates or Class A-2FL/2FX Regular Interest in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates (other than the Class A-2FX and Class A-2FL Certificates) and the Class A-2FL/2FX Regular Interest, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates or the Class A-2FL/2FX Regular Interest. Any amount of reimbursements allocated to the Class A-2FL/2FX Regular Interest pursuant to this Section 4.04(a) shall be allocated to the Class A-2FX and Class A-2FL Certificates, pro rata, based upon their respective Certificate Balances. If the Certificate Balance of any Class of Principal Balance Certificates or Class A-2FL/2FX Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Principal Balance Certificates or the Class A-2FL/2FX Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Certificates (other than the Class A-2FX and Class A-2FL Certificates) and the Class A-2FL/2FX Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-2FL/2FX Regular Interest, as applicable, with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates, sixth, to the Class B Certificates, seventh, to the Class A-S Certificates, and then, pro rata (based on their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB CertificatesCertificates and the Class A-2FL/2FX Regular Interest, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. Any Collateral Support Deficit so allocated to the Class A-2FL/2FX Regular Interest on any Distribution Date shall be allocated between the Class A-2FX and Class A-2FL Certificates, in accordance with their respective Certificate Balances. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-2FX and Class A-2FL Certificates) or Class A-2FL/2FX Regular Interest, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JPMBB Commercial Mortgage Securities Trust 2013-C15)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates. If the Certificate Balance Certificatesof any Class of Certificates is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-write off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates; second, secondto the Class P Certificates, third, to the Class N Certificates, fourth, to the Class M Certificates, fifth, to the Class L Certificates, sixth, to the Class K Certificates, seventh, to the Class J Certificates, eighth, to the Class H Certificates, ninth, to the Class G Certificates, tenth, to the Class F Certificates, thirdeleventh, to the Class E Certificates, fourthtwelfth, to the Class D Certificates, fifththirteenth, to the Class C Certificates, sixthfourteenth, to the Class B Certificates, seventhfifteenth, to the Class A-S J Certificates, sixteenth, to the Class A-M Certificates, and thenseventeenth to the Class A-1 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and Class A-1A Certificates, pro rata (based on upon their respective Certificate BalancesBalances and without regard to Loan Groups), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class X, Class R and Class LR Certificates, ) pursuant to Section 4.04(a4.04(b) or Section 4.04(b4.04(d), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-Cibc17)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-MFL Certificates) and the Class A-MFL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-MFL Certificates) and the Class A-MFL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-MFL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-MFL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-MFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-MFL Regular Interest, as applicable) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-MFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-MFL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-MFL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-MFL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-MFL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or Class A-MFL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class A-MFL Certificates) and the Class A-MFL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or the Class A-MFL Regular Interest, as applicable, with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates; second, secondto the Class T Certificates, third, to the Class Q Certificates, fourth, to the Class P Certificates, fifth, to the Class N Certificates, sixth, to the Class M Certificates, seventh, to the Class L Certificates, eighth, to the Class K Certificates, ninth, to the Class J Certificates, tenth, to the Class H Certificates, eleventh, to the Class G Certificates, twelfth, to the Class F Certificates, thirdthirteenth, to the Class E Certificates, fourthfourteenth, to the Class D Certificates, fifthfifteenth, to the Class C Certificates, sixthsixteenth, to the Class B Certificates, seventhseventeenth, to the Class A-S J Certificates, eighteenth, to the Class A-M Certificates and thenClass A-MFL Regular Interest, pro rata, and nineteenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and Class A-1A Certificates, pro rata (based on upon their respective Certificate BalancesBalances and without regard to Loan Groups), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-MFL, Class X, Class R and Class LR Certificates, ) or the Class A-MFL Regular Interest pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest Interests with respect thereto as a write-offoff (in the case of (i) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-2 Certificates, first, to the Class LA-2-1 Uncertificated Interest, second, to the Class LA-2-2 Uncertificated Interest and third, to the Class LA-2-3 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-3 Certificates, first, to the Class LA-3-1 Uncertificated Interest, second, to the Class LA-3-2 Uncertificated Interest, third, to the Class LA-3-3 Uncertificated Interest, and fourth, to the Class LA-3-4 Uncertificated Interest, fifth, to the Class LA-3-5 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-4 Certificates, first, to the Class LA-4-1 Uncertificated Interest, second, to the Class LA-4-2 Uncertificated Interest, third, to the Class LA-4-3 Uncertificated Interest, fourth, to the Class LA-4-4 Uncertificated Interest, fifth, to the Class LA-4-5 Uncertificated Interest, sixth, to the Class LA-4-6 Uncertificated Interest, seventh, to the Class LA-4-7 Uncertificated Interest, eighth, to the Class LA-4-8 Uncertificated Interest, ninth, to the Class LA-4-9 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, sixth, to the Class LA-SB-6 Uncertificated Interest, and seventh, to the Class LA-SB-7 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class E Certificates, first, to the Class LE-1 Uncertificated Interest and second, to the Class LE-2 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class F Certificates, first, to the Class LF-1 Uncertificated Interest and second, to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest, second, to the Class LG-2 Uncertificated Interest and third, to the Class LG-3 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest and second, to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, (x) the Class J Certificates, first, to the Class LJ-1 Uncertificated Interest, second, to the Class LJ-2 Uncertificated Interest and third, second, to the Class LJ-3 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class K Certificates, first, to the Class LK-1 Uncertificated Interest and second, to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero, (xii) the Class L Certificates, first, to the Class LL-1 Uncertificated Interest and second, to the Class LL-2 Uncertificated Interest, in each case, until reduced to zero, (xiii) the Class M Certificates, first, to the Class LM-1 Uncertificated Interest and second, to the Class LM-2 Uncertificated Interest, in each case, until reduced to zero, (xiv) the Class P Certificates, first, to the Class LP-1 Uncertificated Interest and second, to the Class LP-2 Uncertificated Interest, in each case, until reduced to zero, and (xv) the Class NR Certificates, first, to the Class LNR-1 Uncertificated Interest, second, to the Class LNR-2 Uncertificated Interest and third, to the Class LNR-3 Uncertificated Interest, in each case, until reduced to zero).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Cibc20)

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Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.064.01, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Mortgage Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, Date is less than (ii) the then aggregate Certificate Class Principal Balance of the Principal Balance Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Principal Balance Certificates shall be made by reducing the Certificate Class Principal Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Principal Balance Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Class Principal Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Class Principal Balances of the Principal Balance Certificates will be reduced without distribution, as a write-off distribution to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off Such reductions shall be allocated among the respective Certificates as follows: first, to the Class NR Q Certificates; second, to the Class P Certificates; third, to the Class O Certificates; fourth, to the Class N Certificates; fifth, to the Class M Certificates; sixth, to the Class L Certificates, secondseventh, to the Class K Certificates, eighth, to the Class J Certificates, ninth, to the Class H Certificates, tenth, to the Class G Certificates, eleventh, to the Class F Certificates, thirdtwelfth, to the Class E Certificates, fourththirteenth, to the Class D Certificates, fifthfourteenth, to the Class C Certificates, sixthand fifteenth, to the Class B Certificates, seventhin each case, until the remaining Class Principal Balance of each such Class of Certificates has been reduced to zero. Following the reduction of the Class A-S Principal Balances of all such Classes to zero, any remaining Collateral Support Deficit shall be allocated among the Class A-1 and Class A-2 Certificates, and then, pro rata (based on their respective Certificate Balancesupon the Class Principal Balance of each such Class), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Class Principal Balances of such Classes of Certificates have been reduced to zero. Any Collateral Support Deficit allocated to a Class of Certificates will be allocated among respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount Amounts of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of the Class LA-1-1, Class LA-1-2, Class LA-1-3, Class LA-1-4, Class LA-1-5 and Class LA-1-6 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; and in the case of the Class LA-2-1, Class LA-2-2 and Class LA-2-3 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Comm Mort Pass THR Cert Ser 2003-Cnp1)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to the Class A-S Certificates, zero and then, pro rata (based on their respective Certificate Balances), fifteenth to the Class A-1, Class A-2A-0, Xxxxx X-0, Class A-3, Class A-4, Class A-5 A-4 and Class A-SB A-1A Certificates, in each case pro rata (based upon Certificate Balance), until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first to the Class LA-1-1 Uncertificated Interest, second to the Class LA-1-2 Uncertificated Interest and third to the Class LA-1-3 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest and third to the Class LA-2-3 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-3 Certificates, first to the Class LA-3-1 Uncertificated Interest and second to the Class LA-3-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-4 Certificates, first to the Class LA-4-1 Uncertificated Interest and then to the Class LA-4-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-1A Certificates, first to the LA-1A-1 Uncertificated Interest, second to the Class LA-1A-2 Uncertificated Interest, third to the Class LA-1A-3 Uncertificated Interest, fourth to the Class LA-1A-4 Uncertificated Interest, fifth to the Class LA-1A-5 Uncertificated Interest, sixth to the Class LA-1A-6 Uncertificated Interest, seventh to the Class LA-1A-7 Uncertificated Interest and eighth to the Class LA-1A-8 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class G Certificates, first to the Class LG-1 Uncertificated Interest and then to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and then to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class J Certificates, first to the Class LJ-1 Uncertificated Interest and then to the Class LJ-2 Uncertificated Interest, in each case, until reduced to zero and (ix) the Class L Certificates, first to the Class LL-1 Uncertificated Interest and then to the Class LL-2 Uncertificated Interest, in each case, until reduced to zero).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Comm Mort Pass THR Certs Ser 2003-Pm1)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates. If the Certificate Balance Certificatesof any Class of Certificates is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates; second, secondto the Class Q Certificates, third, to the Class P Certificates, fourth, to the Class N Certificates, fifth, to the Class M Certificates, sixth, to the Class L Certificates, seventh, to the Class K Certificates, eighth, to the Class J Certificates, ninth, to the Class H Certificates, tenth, to the Class G Certificates, eleventh, to the Class F Certificates, thirdtwelfth, to the Class E Certificates, fourththirteenth, to the Class D Certificates, fifthfourteenth, to the Class C Certificates, sixthfifteenth, to the Class B Certificates, seventhsixteenth, to the Class A-S J Certificates, seventeenth, to the Class A-M Certificates, and theneighteenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and Class A-1A Certificates, pro rata (based on upon their respective Certificate BalancesBalances and without regard to Loan Groups), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class X, Class R and Class LR Certificates, ) pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Cibc19)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class Q Certificates; third to the Class P Certificates; fourth to the Class N Certificates; fifth to the Class M Certificates; sixth to the Class L Certificates; seventh to the Class K Certificates; eighth to the Class J Certificates; ninth to the Class H Certificates; tenth to the Class G Certificates; eleventh to the Class F Certificates, third, ; twelfth to the Class E Certificates, fourth, thirteenth to the Class D Certificates, fifth, fourteenth to the Class C Certificates, sixth, fifteenth to the Class B Certificates, seventh, sixteenth to the Class A-S J Certificates and seventeenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates and thenthe Class A-1A Certificates, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, and fourth, to the Class LA-1-4 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, and second to the Class LA-2-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-3 Certificates, first to the Class LA-3-1 Uncertificated Interest, second to the Class LA-3-2 Uncertificated Interest, third to the Class LA-3-3 Uncertificated Interest, fourth to the Class LA-3-4 Uncertificated Interest, fifth to the Class LA-3-4 Uncertificated Interest, and sixth to the Class LA-3-6 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-4 Certificates, first to the Class LA-4-1 Uncertificated Interest, second to the Class LA-4-2 Uncertificated Interest, third to the Class LA-4-3 Uncertificated Interest, and fourth to the Class LA-4-4 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-5 Certificates, first to the Class LA-5-1 Uncertificated Interest, second to the Class LA-5-2 Uncertificated Interest, and third to the Class LA-5-3 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class F Certificates, first to the Class LF-1 Uncertificated Interest and second to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class G Certificates, first to the Class LG-1 Uncertificated Interest, second to the Class LG-2 Uncertificated Interest, third to the Class LG-3 Uncertificated Interest, and fourth to the Class LG-4 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and second to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, (x) the Class J Certificates, first to the Class LJ-1 Uncertificated Interest, second to the Class LJ-2 Uncertificated Interest and third to the Class LJ-3 Uncertificated Interest, in each case, until reduced to zero), and (xi) the Class L Certificates, first to the Class LL-1 Uncertificated Interest and second to the Class LL-2 Uncertificated Interest, in each case, until reduced to zero).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Corp. Commercial Mortgage Pass-Through Certificates, Series 2004-C3)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-JFL Certificates) and the Class A-JFL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-JFL Certificates) and the Class A-JFL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-JFL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-JFL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-JFL Regular Interest) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-JFL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-JFL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-JFL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-JFL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or Class A-JFL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates and the Class A-JFL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or the Class A-JFL Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, ; fourteenth to the Class B Certificates, seventh, ; fifteenth to the Class A-S J Certificates and the Class A-JFL Regular Interest (and correspondingly to the Class A-JFL Certificates, and then), pro rata (based on upon their respective Certificate Balances); and sixteenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and the Class A-1A Certificates, pro rata (based upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates or Class A-JFL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, and fourth, to the Class LA-1-4 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest, third to the Class LA-2-3 Uncertificated Interest, fourth to the Class LA-2-4 Uncertificated Interest, fifth to the Class LA-2-5 Uncertificated Interest, and sixth to the Class LA-2-6 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-3 Certificates, first to the Class LA-3-1 Uncertificated Interest, and second to the Class LA-3-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-4 Certificates, first to the Class LA-4-1 Uncertificated Interest, second to the Class LA-4-2 Uncertificated Interest, third to the Class LA-4-3 Uncertificated Interest, fourth to the Class LA-4-4 Uncertificated Interest, fifth to the Class LA-4-5 Uncertificated Interest, and sixth to the Class LA-4-6 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-SB Certificates, first to the Class LA-SB-1 Uncertificated Interest, second to the Class LA-SB-2 Uncertificated Interest, third to the Class LA-SB-3 Uncertificated Interest, fourth to the Class LA-SB-4 Uncertificated Interest, fifth to the Class LA-SB-5 Uncertificated Interest, and sixth to the Class LA-SB-6 Uncertificated Interest, in each case, until reduced to zero, (vii), the Class C Certificates, first to the Class LC-1 Uncertificated Interest and second to the Class LC-2 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class D Certificates, first to the Class LD-1 Uncertificated Interest, second to the Class LD-2 Uncertificated Interest and third to the Class LD-3 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class E Certificates, first to the Class LE-1 Uncertificated Interest, second to the Class LE-2 Uncertificated Interest and third to the Class LE-3 Uncertificated Interest, (x) the Class F Certificates, first to the Class LF-1 Uncertificated Interest and second to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class G Certificates, first to the Class LG-1 Uncertificated Interest and second to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (xii) the Class H Certificates, first to the Class LH-1 Uncertificated Interest, second to the Class LH-2 Uncertificated Interest and third to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero, and (xiii) the Class K Certificates, first to the Class LK-1 Uncertificated Interest and second to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JPMorgan Chase Commercial Mortgage Securities Corp, Series 2005-Cibc11)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Loans (for purposes or in the case of this calculation onlythe Simon Mortgage Loan, not the Simon Pooled Balance of the Simon Pooled Component after giving effect to any reductions allocations of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) Simon Collateral Support Deficit to the extent Simon Pooled Component on such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable AdvancesDistribution Date) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class N Certificates; third to the Class M Certificates; fourth to the Class L Certificates; fifth to the Class K Certificates; sixth to the Class J Certificates; seventh to the Class H Certificates; eighth to the Class G Certificates; ninth to the Class F Certificates, third, ; tenth to the Class E Certificates, fourth, ; eleventh to the Class D Certificates, fifth, ; twelfth to the Class C Certificates, sixth, ; thirteenth to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and fourteenth to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, fourth, to the Class LA-1-4 Uncertificated Interest, fifth, to the Class LA-1-5 Uncertificated Interest and sixth, to the Class LA-1-6 Uncertificated Interest, until reduced to zero, (ii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest and second to the Class LA-2-2 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class G Certificates, first to the Class LG-1 Uncertificated Interest, and then to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class H Certificates, first to the Class LH-1 Uncertificated Interest, second to the Class LH-2 Uncertificated Interest and then to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero and (v) the Class J Certificates, first to the Class LJ-1 Uncertificated Interest and then to the Class LJ-2 Uncertificated Interest, in each case, until reduced to zero). (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Simon Mortgage Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the sum of (A) the Simon Pooled Balance of the Simon Pooled Component and (B)the then aggregate Certificate Balance of the Class S Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Simon Collateral Support Deficit"). On each Distribution Date, the Certificate Balances of the Class S Certificates and the Simon Pooled Balance of the Simon Pooled Component will be reduced without distribution as a write-off to the extent of any Simon Collateral Support Deficit, if any, allocable to such Certificates or Simon Pooled Component with respect to such Distribution Date. Any such write-offs shall be allocated first to the Class KS-3 Uncertificated Interest; second to the Class KS-2 Uncertificated Interest; third to the Class KS-1 Uncertificated Interest; and fourth to the Loan REMIC Pooled Regular Interest, in each case in reduction of the Loan REMIC Principal Amount thereof, until such Loan REMIC Principal Amount has been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Com Mort Sec Corp Pas THR CRT Ser 2002 Cibc5)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are (x) not otherwise determined to be Nonrecoverable AdvancesAdvances or (y) not repaid by the related Mortgagor) of the Mortgage Loans, and any REO Loans of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 4.05 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount and/or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated any Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to the Class A-S Certificates, zero and then, pro rata (based on their respective Certificate Balances), fifteenth to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 A-4 and Class A-SB A-1A Certificates, in each case pro rxxx (xxxxx xxxn Certificate Balance), until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first to the Class LA-1-1 Uncertificated Interest, second to the Class LA-1-2 Uncertificated Interest and third to the Class LA-1-3 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest, third to the Class LA-2-3 Uncertificated Interest, fourth to the Class LA-2-4 Uncertificated Interest and fifth to the Class LA-2-5 Uncertificated Interest in each case, until reduced to zero, (iii) the Class A-4 Certificates, first to the Class LA-4-1 Uncertificated Interest and then to the Class LA-4-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-1A Certificates, first to the LA-1A-1 Uncertificated Interest, second to the Class LA-1A-2 Uncertificated Interest, third to the Class LA-1A-3 Uncertificated Interest, fourth to the Class LA-1A-4 Uncertificated Interest, fifth to the Class LA-1A-5 Uncertificated Interest, sixth to the Class LA-1A-6 Uncertificated Interest, seventh to the Class LA-1A-7 Uncertificated Interest and eighth to the Class LA-1A-8 Uncertificated Interest, in each case, until reduced to zero, (v) the Class E Certificates, first to the Class LE-1 Uncertificated Interest and then to the Class LE-2 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class F Certificates, first to the Class LF-1 Uncertificated Interest and then to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class G Certificates, first to the Class LG-1 Uncertificated Interest and then to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and then to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero and (ix) the Class K Certificates, first to the Class LK-1 Uncertificated Interest and then to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Mortgage Chase Comm Mort Pass THR Certs Ser 2004-Cibc8)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates or Class NC Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates or Class NC Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates or Class NC Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates or Class NC Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated (i) to the extent attributable to the Newport Mortgage Loan, first, to the Class NC-2 Certificates; second to the Class NC-1 Certificates, until the remaining Certificate Balance of each such Class of Certificate has been reduced to zero; then (ii) any other Collateral Support Deficit or any such Collateral Support Deficit with respect to the Newport Mortgage Loan remaining after the allocations in clause (i), among the respective Classes of Certificates as follows: first, to the Class NR Certificates; second, secondto the Class N Certificates; third, to the Class M Certificates; fourth, to the Class L Certificates; fifth, to the Class K Certificates; sixth, to the Class J Certificates; seventh, to the Class H Certificates; eighth, to the Class G Certificates; ninth, to the Class F Certificates, third; tenth, to the Class E Certificates, fourth; eleventh, to the Class D Certificates, fifth; twelfth, to the Class C Certificates, sixththirteenth, to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and fourteenth, to the Class A-S A-1 Certificates, the Class A-2 Certificates and thenthe Class A-3 Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, pursuant to Section 4.04(a) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto Interests as a write-offoff and shall be allocated among the Uncertificated Lower-Tier Interests in the same priority as the Class of Related Certificates; provided, that with respect to Collateral Support Deficits allocated to (A) the Class A-3 Certificates, such corresponding reduction shall be deemed to be a reduction with respect to the Class LA-3-1 Uncertificated Interest until its Lower-Tier Principal Amount is reduced to zero, then to the Class LA-3-2 Uncertificated Interest until its Lower-Tier Principal Amount is reduced to zero, and (B) the Class F Certificates, such corresponding reduction shall be deemed to be a reduction with respect to Class LF-1 Uncertificated Interest until its Lower-Tier Principal Amount is reduced to zero, then to the Class LF-2 Uncertificated Interest until its Lower-Tier Principal Amount is reduced to zero, pursuant to Section 4.04(a). (d) The Collateral Support Deficit allocable to the Newport Mortgage Loan shall be the amount by which the Stated Principal Balance of the Newport Mortgage Loan exceeds the sum of the Newport Senior Balance and the Newport Subordinate Balance, and shall be allocated, first to the Class KNC-2 Uncertificated Interest; second to the Class KNC-1 Uncertificated Interest; and third to the Loan REMIC Senior Regular Interest, in each case in reduction of the Loan REMIC Principal Amount thereof, until such Loan REMIC Principal Amount has been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Commercial Mortgage Securities Corp)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.064.01, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (excluding the 622 Third Avenue Non-Pooled Portion) and any REO Mortgage Loans (excluding any portion allocable to any related Companion Loan, if applicableexclxxxxx xxx 000 Xxird Avenue Non-Pooled Portion) expected to be outstanding immediately following immedxxxxxx xxxxxxxxx such Distribution Date, Date is less than (ii) the then aggregate Certificate Class Principal Balance of the Principal Balance Certificates (other than the Class 622 Third Avenue Participation Certificates) after giving effect to distributions of dxxxxxxxxxxxx xx principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Principal Balance Certificates (other than the Class 622 Third Avenue Participation Certificates) shall be made by reducing the Certificate reducinx xxx Xxxxx Xxxxcipal Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Principal Balance Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Class Principal Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Class Principal Balances of the Principal Balance Certificates (other than the Class 622 Third Avenue Participation Certificates) will be reduced without distribution, as a write-off to xxxxxxxxxxxx xx the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off Such reductions shall be allocated among the respective Certificates as follows: first, to the Class NR P Certificates; second, to the Class O Certificates; third, to the Class N Certificates; fourth, to the Class M Certificates; fifth, to the Class L Certificates; sixth, to the Class K Certificates, secondseventh, to the Class J Certificates, eighth, to the Class H Certificates, ninth, to the Class G Certificates, tenth, to the Class F Certificates, thirdeleventh, to the Class E Certificates, fourthtwelfth, to the Class D Certificates, fifththirteenth, to the Class C Certificates, sixthand fourteenth, to the Class B Certificates, seventhin each case, until the remaining Class Principal Balance of each such Class of Certificates has been reduced to zero. Following the reduction of the Class A-S CertificatesPrincipal Balances of all such Classes to zero, and then, pro rata (based on their respective Certificate Balances), to any remaining Collateral Support Deficit shall be allocated among the Class A-1, Class A-2, Class A-3, Class A-4, and Class A-5 and Class A-SB Certificates, in pro rata (based upon the Class Principal Balance of each case such Class), until the remaining Certificate Class Principal Balances of such Classes of Certificates have been reduced to zero. Any Collateral Support Deficit allocated to a Class of Certificates will be allocated among respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount Amounts of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off (in the case of the Class LA-1-1, Class LA-1-2 and Class LA-1-3 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; in the case of the Class LA-2-1, Class LA-2-2 and Class LA-2-3 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; in the case of the Class LA-3-1 and Class LA-3-2 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; in the case of the Class LA-4-1 and Class LA-4-2 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; in the case of the Class LA-5-1 and Class LA-5-2 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; in the case of the Class LD-1 and Class LD-2 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; in the case of the Class LE-1 and Class LE-2 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order; and in the case of the Class LF-1 and Class LF-2 Uncertificated Interests, to each such Uncertificated Lower-Tier Interest, in that order). (d) On each Distribution Date, immediately following the distribution to be made on such date pursuant to Section 4.01, the Trustee shall calculate the amount, if any, by which (i) the Stated Principal Balance of the 622 Third Avenue Loan (or any related REO Mortgage Loan) expected to xx xxxxxxxxxxx xmmediately following such Distribution Date is less than (ii) the sum of the Stated Principal Balance of the 622 Third Avenue Pooled Portion and the Certificate Balance of the Clxxx 000 Xxxxxxxxation Certificates, respectively, after giving effect to distributions of principal on such Distribution Date (any such deficit, the "622 Third Avenue Collateral Support Deficit"). Following each Servicer Remittance Date, the 622 Third Avenue Collateral Support Deficit will be allocated as follxxx: xxxxx, xx xhe Class 622-F Participation Certificates, until the remaining Certificate Balance of such Class has been reduced to zero; second, to the Class 622-E Participation Certificates, until the remaining Certificate Balance of such Class has been reduced to zero; third, to the Class 622-D Participation Certificates, until the remaining Certificate Balance of such Class has been reduced to zero, fourth, to the Class 622-C Participation Certificates, until the remaining Certificate Balance of such Class has been reduced to zero; fifth, to the Class 622-B Participation Certificates, until the remaining Certificate Balance of such Class has been reduced to zero; sixth, to the Class 622-A Participation Certificates, until the remaining Certificate Balance of such Class has been reduced to zero; and then, to the 622 Third Avenue Pooled Portion, until the Stated Principal Balance txxxxxx xxx xxxx reduced to zero. Any allocation of 622 Third Avenue Collateral Support Deficits to any class of the Clasx 000 Xxxxxxxxxxion Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any allocation of 622 Third Avenue Collateral Support Deficit to the 622 Third Avenue Pxxxxx Xxxxxxx xxall be made by reducing the Stated Xxxxxxxxx Xxxxxxe thereof by the amount so allocated. Any 622 Third Avenue Collateral Support Deficit allocated to Class 622 Paxxxxxxxxxxx Xxxxificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. Any 622 Third Avenue Collateral Support Deficit allocated to the Class 620 Xxxxxxxxxxxxx Certificates with respect to a Distribution Date shall reduce the Lower-Tier Principal Amount of the Class L622 Uncertificated Interests, in reverse sequential order, as a write off, as applicable. The allocation of 622 Third Avenue Collateral Support Deficits shall constitute an alloxxxxxx xx xxxxxx and other shortfalls experienced by the Trust Fund with respect to the 622 Third Avenue Loan. Any 622 Third Avenue Collateral Support Deficix xxxxxxxxx xx xhe 622 Thirx Xxxxxx Xxxxxx Portion shall be treated as a loss on the relxxxx xxxx xxxxxxting of the 622 Third Avenue Pooled Portion and will result in a Collateral Suppoxx Xxxxxxx. Xxxxbursement of previously allocated 622 Third Avenue Collateral Support Deficits will not constitute distxxxxxxxxx xx xxxncipal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class 622 Participation Certificates, the Lower-Tier Principal Amount of the related Uncertificated Lower-Tier Interests or the Stated Principal Balance of the 622 Third Avenue Pooled Portion or the 622 Third Avenue Non-Pooled Poxxxxx. (e) Any Appraisal Rxxxxxxxx Xxxxxx calculated with respect to the 622 Third Avenue Loan will be allocated first to the Class 622-C Partxxxxxxxxx Xxxxxxicates, second to the Class 622-B Participation Certificates and then to the Class 622-A Participation Certificates, in that order.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mor Sec Corp Com Cer Ser 2003-C3)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (or in the case of the Concord Mills Mortgage Loan, the Concord Mills Pooled Balance of the Concord Mixxx Xooled Component after giving xxxxct to any allocations of Concorx Xxxls Collateral Support Deficit to the Concord Mills Pooled Component xx xxch Distribution Date) and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected expxxxxx to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, ; fourteenth to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and fifteenth to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, fourth, to the Class LA-1-4 Uncertificated Interest, fifth, to the Class LA-1-5 Uncertificated Interest and sixth, to the Class LA-1-6 Uncertificated Interest, until reduced to zero, (ii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest and third to the Class LA-2-3 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class G Certificates, first to the Class LG-1 Uncertificated Interest, and second to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and second to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class J Certificates, first to the Class LJ-1 Uncertificated Interest and second to the Class LJ-2 Uncertificated Interest, in each case, until reduced to zero and (vi) the Class K Certificates, first to the Class LK-1 Uncertificated Interest, and second to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero). (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Concord Mills Mortgage Loan expected to be outstanding immediately following suxx Xxstribution Date, is less than (ii) the sum of (A) the Concord Mills Pooled Balance of the Concord Mills Pooled Component and (B)the txxx xggregate Certificate Balance of xxx Class CM Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Concord Mills Collateral Support Deficit"). On each Distribution Date, the Certxxxxxte Balances of the Class CM Certificates and the Concord Mills Pooled Balance of the Concord Mills Pooled Component will be reduxxx xithout distribution as a write-xxx xo the extent of any Concord Mills Collateral Support Deficit, if any, allocable to such Certificatex xx Concord Mills Pooled Component with respect to such Distribution Date. Any such xxxxe-offs shall be allocated first to the Class KCM-3 Uncertificated Interest; second to the Class KCM-2 Uncertificated Interest; third to the Class KCM-1 Uncertificated Interest; and fourth to the Loan REMIC Pooled Regular Interest, in each case in reduction of the Loan REMIC Principal Amount thereof, until such Loan REMIC Principal Amount has been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Com Mort Sec Corp Pass THR Cert Se 2003 C1)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR I Certificates; second, secondto the Class H Certificates; third, to the Class G Certificates; fourth, to the Class F Certificates, third; fifth, to the Class E Certificates, fourth; sixth, to the Class D Certificates, fifth; seventh, to the Class C Certificates, sixth; eighth, to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and ninth, to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Commercial Mortgage Securities Corp)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates [(other than the Class A-3FL Certificates) and the Class A-3FL Regular Interest] after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates [(or, with respect to the Class A-3FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-3FL Regular Interest)] shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates [(other than the Class A-3FL Certificates) and the Class A-3FL Regular Interest] will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR [H] Certificates, ; second, to the Class F [G] Certificates, ; third, to the Class E [F] Certificates, ; fourth, to the Class D [E] Certificates, ; fifth, to the Class C [D] Certificates, ; sixth, to the Class B [C] Certificates, ; seventh, to the Class A-S [B] Certificates, in each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and theneighth, to the Class [A-1] Certificates, the Class [A-2] Certificates, the Class [A-1A] Certificates [and the Class A-3FL Regular Interest], pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates [or Class A-3FL Regular Interest] have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount Amounts of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Ge Commercial Mortgage Corp)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates. If the Certificate Balance Certificatesof any Class of Certificates is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-write off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write off shall be allocated first, to the Class NR Certificates; second, secondto the Class P Certificates, third, to the Class N Certificates, fourth, to the Class M Certificates, fifth, to the Class L Certificates, sixth, to the Class K Certificates, seventh, to the Class J Certificates, eighth, to the Class H Certificates, ninth, to the Class G Certificates, tenth, to the Class F Certificates, thirdeleventh, to the Class E Certificates, fourthtwelfth, to the Class D Certificates, fifththirteenth, to the Class C Certificates, sixthfourteenth, to the Class B Certificates, seventhfifteenth, to the Class A-S J Certificates, sixteenth, to the Class A-M Certificates, and thenseventeenth to the Class A-1 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and Class A-1A Certificates, pro rata (based on upon their respective Certificate BalancesBalances and without regard to Loan Groups), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class X, Class R, Class LR and Class S Certificates, ) pursuant to Section 4.04(a4.04(b) or Section 4.04(b4.04(d), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, and third, to the Class LA-1-3 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-3 Certificates, first, to the Class LA-3-1 Uncertificated Interest, second, to the Class LA-3-2 Uncertificated Interest, and third, to the Class LA-3-3 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-4 Certificates, first, to the Class LA-4-1 Uncertificated Interest, second, to the Class LA-4-2 Uncertificated Interest, third, to the Class LA-4-3 Uncertificated Interest, fourth, to the Class LA-4-4 Uncertificated Interest, fifth, to the Class LA-4-5 Uncertificated Interest, sixth, to the Class LA-4-6 Uncertificated Interest, seventh, to the Class LA-4-7 Uncertificated Interest, eighth, to the Class LA-4-8 Uncertificated Interest, ninth, to the Class LA-4-9 Uncertificated Interest, tenth, to the Class LA-4-10 Uncertificated Interest, and eleventh, to the Class LA-4-11 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, and sixth, to the Class LA-SB-6 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class C Certificates, first, to the Class LC-1 Uncertificated Interest and second, to the Class LC-2 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class D Certificates, first, to the Class LD-1 Uncertificated Interest, second, to the Class LD-2 Uncertificated Interest, and third, to the Class LD-3 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class E Certificates, first, to the Class LE-1 Uncertificated Interest, second, to the Class LE-2 Uncertificated Interest and third, to the Class LE-3 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class F Certificates, first, to the Class LF-1 Uncertificated Interest, second, to the Class LF-2 Uncertificated Interest, and third, to the Class LF-3 Uncertificated Interest, in each case, until reduced to zero, (x) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest and second, to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest, and second, to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, and (xii) the Class K Certificates, first, to the Class LK-1 Uncertificated Interest and second, to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-Cibc15)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates. If the Certificate Balance Certificatesof any Class of Certificates is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated first, to the Class NR Certificates; second, secondto the Class T Certificates; third, to the Class Q Certificates; fourth, to the Class P Certificates; fifth, to the Class N Certificates; sixth, to the Class M Certificates; seventh, to the Class L Certificates; eighth, to the Class K Certificates; ninth, to the Class J Certificates; tenth, to the Class H Certificates; eleventh, to the Class G Certificates; twelfth, to the Class F Certificates, third; thirteenth, to the Class E Certificates, fourth; fourteenth, to the Class D Certificates, fifth; fifteenth, to the Class C Certificates, sixth; sixteenth, to the Class B Certificates, seventh; seventeenth, to the Class A-S J Certificates; eighteenth, to the Class A-M Certificates; and nineteenth, to the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-SB Certificates and thenClass A-1A Certificates, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2007-Ldp12)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (other than the One Post Office Square B Note), and any REO Loans (excluding any portion allocable other than an REO Loan related to any related Companion Loanthe One Post Office Square B Note), if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventh, Certificates and fifteenth to the Class A-S A-1 Certificates, Class A-2 Certificates and thenthe Class A-1A Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, fourth, to the Class LA-1-4 Uncertificated Interest, fifth, to the Class LA-1-5 Uncertificated Interest, and sixth, to the Class LA-1-6 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest and eighth, to the Class LA-1A-8 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest and third to the Class LA-2-3 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class F Certificates, first to the Class LF-1 Uncertificated Interest, and second to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class G Certificates, first to the Class LG-1 Uncertificated Interest and second to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and second to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero and (vii) the Class L Certificates, first to the Class LL-1 Uncertificated Interest, and second to the Class LL-2 Uncertificated Interest, in each case, until reduced to zero). (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the Stated Principal Balance of the One Post Office Square B Note and any related REO Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Class PS Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "One Post Office Square B Note Collateral Support Deficit"). Any allocation of One Post Office Square B Note Collateral Support Deficit to a Class of Class PS Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated pursuant to Section 4.04(e). Any One Post Office Square B Note Collateral Support Deficit allocated to a Class of Class PS Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of One Post Office Square B Note Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund with respect to the One Post Office Square B Note. Reimbursement of previously allocated One Post Office Square B Note Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. (e) On each Distribution Date, the Certificate Balances of the Class PS Certificates will be reduced without distribution as a write-off to the extent of any One Post Office Square B Note Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write-off shall be allocated among the respective Certificates as follows: first, to the Class PS-7 Certificates; second, to the Class PS-6 Certificates; third, to the Class PS-5 Certificates; fourth, to the Class PS-4 Certificates; fifth, to the Class PS-3 Certificates; sixth, to the Class PS-2 Certificates; and seventh, to the Class PS-1 Certificates until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (f) With respect to any Distribution Date, any One Post Office Square B Note Collateral Support Deficit allocated to a Class of Class PS Certificates pursuant to Section 4.04(e) with respect to such Distribution Date shall reduce each of the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest and the Loan REMIC Principal Amount of the Related Loan REMIC Regular Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Com Mort Sec Corp Ps THR Certs Ser 2003-Ln1)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Loans (for purposes or (a) in the case of this calculation onlythe Simon Mortgage Loan, not the Simon Pooled Balance of the Simon Pooled Component after giving effect to any reductions allocations of Simon Collateral Support Deficit to the Simon Pooled Component on such Distribution Date or (b) in the case of the Stated Principal Walgreens Mortgage Loan, the Walgreens Pooled Balance for payments of principal collected on the Mortgage Loans that were used Walgreens Pooled Component after giving effect to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) allocations of Walgreens Collateral Support Deficit to the extent Walgreens Pooled Component on such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable AdvancesDistribution Date) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class N Certificates; third to the Class M Certificates; fourth to the Class L Certificates; fifth to the Class K Certificates; sixth to the Class J Certificates; seventh to the Class H Certificates; eighth to the Class G Certificates; ninth to the Class F Certificates, third, ; tenth to the Class E Certificates, fourth, ; eleventh to the Class D Certificates, fifth, ; twelfth to the Class C Certificates, sixth, ; thirteenth to the Class B Certificates, seventhin each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and fourteenth to the Class A-S A-1 and Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first to the Class LA-1-1 Uncertificated Interest, second to the Class LA-1-2 Uncertificated Interest, third to the Class LA-1-3 Uncertificated Interest, fourth to the Class LA-1-4 Uncertificated Interest and fifth to the Class LA-1-5 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest, third to the Class LA-2-3 Uncertificated Interest and then to the Class LA-2-4 Uncertificated Interest, in each case, until reduced to zero, (iii) Class F Certificates, first to the Class LF-1 Uncertificated Interest and then to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class G Certificates, first to the Class LG-1 Uncertificated Interest and then to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and then to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero, and (vi) the Class J Certificates, first to the Class LJ-1 Uncertificated Interest and then to the Class LJ-2 Uncertificated Interest, in each case, until reduced to zero). (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Simon Mortgage Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the sum of (A) the Simon Pooled Balance of the Simon Pooled Component and (B) the then aggregate Certificate Balance of the Class SP Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Simon Collateral Support Deficit"). On each Distribution Date, the Certificate Balances of the Class SP Certificates and the Simon Pooled Balance of the Simon Pooled Component will be reduced without distribution as a write-off to the extent of any Simon Collateral Support Deficit, if any, allocable to such Certificates or Simon Pooled Component with respect to such Distribution Date. Any such write-offs shall be allocated first to the Class KSP-3 Uncertificated Interest; second to the Class KSP-2 Uncertificated Interest; third to the Class KSP-1 Uncertificated Interest; and fourth to the Simon Loan REMIC Pooled Regular Interest, in each case in reduction of the Simon Loan REMIC Principal Amount thereof, until such Simon Loan REMIC Principal Amount has been reduced to zero. Any such write-offs allocated to the Class KSP-1, KSP-2 or Class KSP-3 Uncertificated Interests shall be allocated to the Class LSP-1, Class LSP-2 and Class LSP-3 Uncertificated Interests, respectively, in each case until the Lower-Tier Principal Amount thereof has been reduced to zero. (e) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Walgreens Mortgage Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the sum of (A) the Walgreens Pooled Balance of the Walgreens Pooled Component and (B) the then Certificate Balance of the Class WM Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Walgreens Collateral Support Deficit"). On each Distribution Date, the Certificate Balance of the Class WM Certificates and the Walgreens Pooled Balance of the Walgreens Pooled Component will be reduced without distribution as a write-off to the extent of any Walgreens Collateral Support Deficit, if any, allocable to such Certificates or Walgreens Pooled Component with respect to such Distribution Date. Any such write-offs shall be allocated: first to the Class JWM Uncertificated Interest; and second to the Walgreens Loan REMIC Pooled Regular Interest, in each case in reduction of the Walgreens Loan REMIC Principal Amount thereof, until such Walgreens Loan REMIC Principal Amount has been reduced to zero. Any such write-offs allocated to the Class JWM Uncertificated Interest shall be allocated to the Class LWM Uncertificated Interest until the Lower-Tier Principal Amount thereof has been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Com Mort Sec Corp Pas THR Cer Ser 2002-C2)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class A-3FL Certificates) and the Class A-3FL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (other than the Class A-3FL Certificates) and the Class A-3FL Regular Interest shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences Class A-3FL Regular Interest shall result in a corresponding reduction of the Certificate Balance of the Class A-3FL Certificates. Any Collateral Support Deficit allocated to a Class of Regular Certificates (or, in the case of the Class A-3FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-3FL Regular Interest, as applicable) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates (or, in the case of the Class A-3FL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-3FL Regular Interest) in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates or Class A-3FL Regular Interest that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates or Class A-3FL Regular Interest. If the Certificate Balance Certificatesof any Class of Certificates or Class A-3FL Regular Interest is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates or Class A-3FL Regular Interest shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class A-3FL Certificates) and the Class A-3FL Regular Interest will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates or Class A-3FL Regular Interest, as applicable, with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class Q Certificates; third to the Class P Certificates; fourth to the Class N Certificates; fifth to the Class M Certificates; sixth to the Class L Certificates; seventh to the Class K Certificates; eighth to the Class J Certificates; ninth to the Class H Certificates; tenth to the Class G Certificates; eleventh to the Class F Certificates, third, ; twelfth to the Class E Certificates, fourth, ; thirteenth to the Class D Certificates, fifth, ; fourteenth to the Class C Certificates, sixth, ; fifteenth to the Class B Certificates, seventh, ; sixteenth to the Class A-S J Certificates; seventeenth to the Class A-M Certificates and eighteenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3A Certificates, Class A-3B Certificates, Class A-4 Certificates, Class A-SB Certificates and thenthe Class A-1A Certificates and Class A-3FL Regular Interest, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates or the Class A-3FL Regular Interest, as applicable, have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class A-3FL, Class X, Class R, Class LR and Class S Certificates, ) or Class A-3FL Regular Interest pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (J.P. Morgan Chase Commercial Mortgage Securities Trust 2006-Ldp7)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Trustee shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected collection on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts not collected from the related borrower are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates (other than the Class X Certificates and the Class A-MFL Certificates and Class A-JFL Certificates) and the Class A-MFL Regular Interest and Class A-JFL Regular Interest after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates (or, with respect to the Class A-MFL Certificates or Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-MFL Regular Interest or Class A-JFL Regular Interest, respectively) shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates (or, with respect to the Class A-MFL Certificates or Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-MFL Regular Interest or Class A-JFL Regular Interest, respectively) shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus including interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates (or, with respect to the Class A-MFL or Class A-JFL Certificates, an amount corresponding to any Collateral Support Deficit allocated to the Class A-MFL Regular Interest or the Class A-JFL Regular Interest) that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates (other than the Class X Certificates) will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR T Certificates; second, secondto the Class Q Certificates; third, to the Class P Certificates; fourth, to the Class O Certificates; fifth, to the Class N Certificates; sixth, to the Class M Certificates; seventh, to the Class L Certificates; eighth, to the Class K Certificates; ninth, to the Class J Certificates; tenth, to the Class H Certificates; eleventh, to the Class G Certificates; twelfth, to the Class F Certificates, third; fourteenth, to the Class E Certificates, fourth; fourteenth, to the Class D Certificates, fifth; fifteenth, to the Class C Certificates, sixthsixteenth, to the Class B Certificates, seventhseventeenth, to the Class A-S Certificates, J Certificates and thenClass A-JFL Regular Interest, pro rata (based on their respective Certificate Balances)rata, eighteenth, to the Class A-1A-M Certificates and Class A-MFL Regular Interest, pro rata, in each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero; and nineteenth, to the Class A-1 Certificates, Class A-2, Class A-3, Class A-4A-AB, Class A-5 A-4 and Class A-SB CertificatesA-1A Certificates pro rata (based upon Certificate Balance), in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest or Interests with respect thereto as a write-offoff (and in the case of the Class LA-1-1, Class LA-1-2, Class LA-1-3, Class LA-1-4, Class LA-2-1, Class LA-2-2, Class LA-2-3, Class LA-2-4, Class LA-2-5, Class LA-2-6, Class LA-3-1, Class LA-3-2, Class LA-4-1, Class LA-4-2, Class LA-4-3, Class LA-4-4, Class LA-4-5, Class LA-4-6, Class LA-1A-1, Class LA-1A-2, Class LA-1A-3, Class LA-1A-4, Class LA-1A-5, Class LA-1A-6, Class LA-1A-7, Class LA-1A-8, Class LA-1A-9, Class LA-1A-10, Class LA-1A-11, Class LA-1A-12, Class LA-1A-13, Class LA-1A-14, Class LA-1A-15, Class LD-1, Class LD-2, Class LE-1, Class LE-2, Class LF-1, Class LF-2, Class LG-1, Class LG-2, Class LG-3, Class LH-1, Class LH-2, Class LJ-1, Class LJ-2, Class LK-1, Class LK-2, Class LL-1 and Class LL-2 Uncertificated Interests, as set forth in Section 4.01(b)).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (GE Commercial Mortgage Corporation, Series 2007-C1 Trust)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, distribution as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated among the respective Certificates as follows: first, to the Class NR [H] Certificates, ; second, to the Class F [G] Certificates, ; third, to the Class E [F] Certificates, ; fourth, to the Class D [E] Certificates, ; fifth, to the Class C [D] Certificates, ; sixth, to the Class B [C] Certificates, ; seventh, to the Class A-S [B] Certificates, in each case, until the remaining Certificate Balance of each such Class of Certificates has been reduced to zero and theneighth, to the Class [A-1] Certificates and the Class [A-2] Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount Amounts of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off.. 107

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion LoanLoans, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Certificates. If the Certificate Balance Certificatesof any Class of Certificates is so increased, the amount of unreimbursed Collateral Support Deficit of such Class of Certificates shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, ; fourteenth to the Class B Certificates, seventh, ; fifteenth to the Class A-S J Certificates; sixteenth to the Class A-M Certificates and seventeenth to the Class A-1 Certificates, Class A-2 Certificates, Class A-3A Certificates, Class A-3B Certificates, Class A-4 Certificates, Class A-SB Certificates and thenthe Class A-1A Certificates, pro rata (based on upon their respective Certificate Balances), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates (other than the Class X, Class R, Class LR and Class S Certificates, ) pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, and fourth, to the Class LA-1-4 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest, eighth, to the Class LA-1A-8 Uncertificated Interest, ninth, to the Class LA-1A-9 Uncertificated Interest, tenth, to the Class LA-1A-10 Uncertificated Interest, eleventh, to the Class LA-1A-11 Uncertificated Interest, twelfth, to the Class LA-1A-12 Uncertificated Interest, thirteenth, to the Class LA-1A-13 Uncertificated Interest, fourteenth, to the Class LA-1A-14 Uncertificated Interest, and fifteenth, to the Class LA-1A-15 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first, to the Class LA-2-1 Uncertificated Interest, second, to the Class LA-2-2 Uncertificated Interest and third, to the Class LA-2-3 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class A-3B Certificates, first, to the Class LA-3B-1 Uncertificated Interest, second, to the Class LA-3B-2 Uncertificated Interest, third, to the Class LA-3B-3 Uncertificated Interest, and fourth, to the Class LA-3B-4 Uncertificated Interest, in each case, until reduced to zero, (v) the Class A-4 Certificates, first, to the Class LA-4-1 Uncertificated Interest, second, to the Class LA-4-2 Uncertificated Interest, third, to the Class LA-4-3 Uncertificated Interest, fourth, to the Class LA-4-4 Uncertificated Interest, fifth, to the Class LA-4-5 Uncertificated Interest, sixth, to the Class LA-4-6 Uncertificated Interest, and seventh, to the Class LA-4-7 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class A-SB Certificates, first, to the Class LA-SB-1 Uncertificated Interest, second, to the Class LA-SB-2 Uncertificated Interest, third, to the Class LA-SB-3 Uncertificated Interest, fourth, to the Class LA-SB-4 Uncertificated Interest, fifth, to the Class LA-SB-5 Uncertificated Interest, sixth, to the Class LA-SB-6 Uncertificated Interest, and seventh, to the Class LA-SB-7 Uncertificated Interest, in each case, until reduced to zero, (vii) the Class D Certificates, first, to the Class LD-1 Uncertificated Interest, second, to the Class LD-2 Uncertificated Interest, third, to the Class LD-3 Uncertificated Interest, and fourth, to the Class LD-4 Uncertificated Interest, in each case, until reduced to zero, (viii) the Class E Certificates, first, to the Class LE-1 Uncertificated Interest, and second, to the Class LE-2 Uncertificated Interest, in each case, until reduced to zero, (ix) the Class F Certificates, first, to the Class LF-1 Uncertificated Interest, second, to the Class LF-2 Uncertificated Interest, and third, to the Class LF-3 Uncertificated Interest, in each case, until reduced to zero, (x) the Class G Certificates, first, to the Class LG-1 Uncertificated Interest, and second, to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (xi) the Class H Certificates, first, to the Class LH-1 Uncertificated Interest, second, to the Class LH-2 Uncertificated Interest and third, to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero, and (xii) the Class J Certificates, first, to the Class LJ-1 Uncertificated Interest, and second, to the Class LJ-2 Uncertificated Interest, in each case, until reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (JP Morgan Chase Commercial Mortgage Securities Trust 2006-Cibc14)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Loans (for purposes or in the case of this calculation onlya Component Mortgage Loan, not the related Component Mortgage Loan Pooled Balance of the related Pooled Component after giving effect to any reductions allocations of the Stated Principal Balance for payments of principal collected related Component Mortgage Loan Collateral Support Deficit to such Component Mortgage Loan Pooled Component on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(vsuch Distribution Date) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans and any REO Loans (excluding any portion allocable to any related Companion Loan, if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class of Principal Balance Certificates. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class N Certificates; third to the Class M Certificates; fourth to the Class L Certificates; fifth to the Class K Certificates; sixth to the Class J Certificates; seventh to the Class H Certificates; eighth to the Class G Certificates; ninth to the Class F Certificates, third, ; tenth to the Class E Certificates, fourth, ; eleventh to the Class D Certificates, fifth, ; twelfth to the Class C Certificates, sixth, ; thirteenth to the Class B Certificates, seventh, Certificates and fourteenth to the Class A-S A-1 Certificates and the Class A-2 Certificates, and then, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-offoff (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, fourth, to the Class LA-1-4 Uncertificated Interest and fifth, to the Class LA-1-5 Uncertificated Interest, until reduced to zero, (ii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest, third to the Class LA-2-3 Uncertificated Interest and fourth, to the Class LA-2-4 Uncertified Interest in each case, until reduced to zero, (iii) the Class F Certificates, first to the Class LF-1 Uncertificated Interest, and second to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class G Certificates, first to the Class LG-1 Uncertificated Interest, and second to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class H Certificates, first to the Class LH-1 Uncertificated Interest, second to the Class LH-2 Uncertificated Interest and third to the Class LH-3 Uncertificated Interest, in each case, until reduced to zero and (vi) the Class K Certificates, first to the Class LK-1 Uncertificated Interest, and second to the Class LK-2 Uncertificated Interest, in each case, until reduced to zero). (i) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Battlefield Mall Mortgage Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the sum of (A) the Battlefield Mall Pooled Balance of the Battlefield Mall Pooled Component and (B) the then aggregate Certificate Balance of the Class BM Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Battlefield Mall Collateral Support Deficit"). On each Distribution Date, the Certificate Balances of the Class BM Certificates and the Battlefield Mall Pooled Balance of the Battlefield Mall Pooled Component will be reduced without distribution as a write-off to the extent of any Battlefield Mall Collateral Support Deficit, if any, allocable to such Certificates or Battlefield Mall Pooled Component with respect to such Distribution Date. Any such write-offs shall be allocated first to the Class KBM-3 Uncertificated Interest; second to the Class KBM-2 Uncertificated Interest; third to the Class KBM-1 Uncertificated Interest and fourth to the Loan REMIC BM Pooled Regular Interest, in each case in reduction of the Loan REMIC Principal Amount thereof, until such Loan REMIC Principal Amount has been reduced to zero. Battlefield Mall Collateral Support Deficits allocated to the Loan REMIC BM Non-Pooled Regular Interests will be allocated to the Related Uncertificated Lower-Tier Regular Interests, in each case in reduction of the Lower-Tier Principal Amount thereof, until such Lower-Tier Principal Amount has been reduced to zero. (e) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance of the Alliance Center Mortgage Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the sum of (A) the Alliance Center Pooled Balance of the Alliance Center Pooled Component and (B) the then aggregate Certificate Balance of the Class AC Certificates, in the case of clauses (A) and (B), after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Alliance Center Collateral Support Deficit"). On each Distribution Date, the Certificate Balances of the Class AC Certificates and the Alliance Center Pooled Balance of the Alliance Center Pooled Component will be reduced without distribution as a write-off to the extent of any Alliance Center Collateral Support Deficit, if any, allocable to such Certificates or Alliance Center Pooled Component with respect to such Distribution Date. Any such write-offs shall be allocated first to the Class KAC-3 Uncertificated Interest; second to the Class KAC-2 Uncertificated Interest; third to the Class KAC-1 Uncertificated Interest and fourth to the Loan REMIC AC Pooled Regular Interest, in each case in reduction of the Loan REMIC Principal Amount thereof, until such Loan REMIC Principal Amount has been reduced to zero. Alliance Center Collateral Support Deficits allocated to the Loan REMIC AC Non-Pooled Regular Interests will be allocated to the Related Uncertificated Lower-Tier Regular Interests, in each case in reduction of the Lower-Tier Principal Amount thereof, until such Lower-Tier Principal Amount has been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Com Sec Corp Pass Thru Cert Ser 2003-Cibc6)

Allocation of Collateral Support Deficit. (a) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Certificate Administrator Paying Agent shall calculate the amount, if any, by which (i) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the Mortgage Loans (other than the One Post Office Square B Note), and any REO Loans (excluding any portion allocable other than an REO Loan related to any related Companion Loanthe One Post Office Square B Note), if applicable) expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Principal Balance Regular Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "Collateral Support Deficit"). Any allocation of Collateral Support Deficit to a Class of Regular Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated. Any Collateral Support Deficit allocated pursuant to the preceding two sentences to a Class of Regular Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund. Reimbursement of previously allocated Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. With respect to any Class of Principal Balance Certificates, to To the extent any Nonrecoverable Advances (plus interest thereon) that were reimbursed from principal collections on the Mortgage Loans and previously resulted in a reduction of the Principal Distribution Amount, Loan Group 1 Principal Distribution Amount or Loan Group 2 Principal Distribution Amount are subsequently recovered on the related Mortgage Loan, the amount of such recovery will be added to the Certificate Balance of the Class or Classes of Principal Balance Certificates that previously were allocated Collateral Support Deficit, in sequential order, in each case up to the amount of the unreimbursed Collateral Support Deficit allocated to such Class. If the Certificate Balance of any Class is so increased, the amount of Principal Balance Certificatesunreimbursed Collateral Support Deficit of such Class shall be decreased by such amount. (b) On each Distribution Date, the Certificate Balances of the Principal Balance Regular Certificates will be reduced without distribution, as a write-off to the extent of any Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Datedate. Any such write write-off shall be allocated first, first to the Class NR Certificates, second, ; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates, third, ; eleventh to the Class E Certificates, fourth, ; twelfth to the Class D Certificates, fifth, ; thirteenth to the Class C Certificates, sixth, fourteenth to the Class B Certificates, seventh, Certificates and fifteenth to the Class A-S A-1 Certificates, Class A-2 Certificates and thenthe Class A-1A Certificates, pro rata (based on their respective upon Certificate BalancesBalance), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (c) With respect to any Distribution Date, any Collateral Support Deficit allocated to a Class of Principal Balance Certificates, Certificates pursuant to Section 4.04(a4.04(b) or Section 4.04(b), respectively, with respect to such Distribution Date shall reduce the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest with respect thereto as a write-off (in the case of (i) the Class A-1 Certificates, first, to the Class LA-1-1 Uncertificated Interest, second, to the Class LA-1-2 Uncertificated Interest, third, to the Class LA-1-3 Uncertificated Interest, fourth, to the Class LA-1-4 Uncertificated Interest, fifth, to the Class LA-1-5 Uncertificated Interest, and sixth, to the Class LA-1-6 Uncertificated Interest, in each case, until reduced to zero, (ii) the Class A-1A Certificates, first, to the Class LA-1A-1 Uncertificated Interest, second, to the Class LA-1A-2 Uncertificated Interest, third, to the Class LA-1A-3 Uncertificated Interest, fourth, to the Class LA-1A-4 Uncertificated Interest, fifth, to the Class LA-1A-5 Uncertificated Interest, sixth, to the Class LA-1A-6 Uncertificated Interest, seventh, to the Class LA-1A-7 Uncertificated Interest and eighth, to the Class LA-1A-8 Uncertificated Interest, in each case, until reduced to zero, (iii) the Class A-2 Certificates, first to the Class LA-2-1 Uncertificated Interest, second to the Class LA-2-2 Uncertificated Interest and third to the Class LA-2-3 Uncertificated Interest, in each case, until reduced to zero, (iv) the Class F Certificates, first to the Class LF-1 Uncertificated Interest, and second to the Class LF-2 Uncertificated Interest, in each case, until reduced to zero, (v) the Class G Certificates, first to the Class LG-1 Uncertificated Interest and second to the Class LG-2 Uncertificated Interest, in each case, until reduced to zero, (vi) the Class H Certificates, first to the Class LH-1 Uncertificated Interest and second to the Class LH-2 Uncertificated Interest, in each case, until reduced to zero and (vii) the Class L Certificates, first to the Class LL-1 Uncertificated Interest, and second to the Class LL-2 Uncertificated Interest, in each case, until reduced to zero). (d) On each Distribution Date, immediately following the distributions to be made on such date pursuant to Section 4.01 and the allocation of Certificate Deferred Interest pursuant to Section 4.06, the Paying Agent shall calculate the amount, if any, by which (i) the Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the One Post Office Square B Note that were used to reimburse any Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(v) to the extent such Workout-Delayed Reimbursement Amounts are not otherwise determined to be Nonrecoverable Advances) of the One Post Office Square B Note and any related REO Loan expected to be outstanding immediately following such Distribution Date, is less than (ii) the then aggregate Certificate Balance of the Class PS Certificates after giving effect to distributions of principal on such Distribution Date and the allocation of Certificate Deferred Interest pursuant to Section 4.06 (any such deficit, the "One Post Office Square B Note Collateral Support Deficit"). Any allocation of One Post Office Square B Note Collateral Support Deficit to a Class of Class PS Certificates shall be made by reducing the Certificate Balance thereof by the amount so allocated pursuant to Section 4.04(e). Any One Post Office Square B Note Collateral Support Deficit allocated to a Class of Class PS Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. The allocation of One Post Office Square B Note Collateral Support Deficit shall constitute an allocation of losses and other shortfalls experienced by the Trust Fund with respect to the One Post Office Square B Note. Reimbursement of previously allocated One Post Office Square B Note Collateral Support Deficit will not constitute distributions of principal for any purpose and will not result in an additional reduction in the Certificate Balance of the Class of Certificates in respect of which any such reimbursement is made. (e) On each Distribution Date, the Certificate Balances of the Class PS Certificates will be reduced without distribution as a write-off to the extent of any One Post Office Square B Note Collateral Support Deficit, if any, allocable to such Certificates with respect to such Distribution Date. Any such write-off shall be allocated among the respective Certificates as follows: first, to the Class PS-7 Certificates; second, to the Class PS-6 Certificates; third, to the Class PS-5 Certificates; fourth, to the Class PS-4 Certificates; fifth, to the Class PS-3 Certificates; sixth, to the Class PS-2 Certificates; and seventh, to the Class PS-1 Certificates until the remaining Certificate Balances of such Classes of Certificates have been reduced to zero. (f) With respect to any Distribution Date, any One Post Office Square B Note Collateral Support Deficit allocated to a Class of Class PS Certificates pursuant to Section 4.04(e) with respect to such Distribution Date shall reduce each of the Lower-Tier Principal Amount of the Related Uncertificated Lower-Tier Interest and the Loan REMIC Principal Amount of the Related Loan REMIC Regular Interest with respect thereto as a write-off.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Jp Morgan Chase Com Mort Sec Corp Ps THR Certs Ser 2003-Ln1)

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