Common use of Allocations of Realized Losses and Additional Trust Fund Expenses Clause in Contracts

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4)

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Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11T, Class HAF-10S, Class HAF-9Q, Class HAF-8P, Class HAF-7, HAF-6N, Class HAF-5M, Class HAF-4L, Class HAF-3K, Class HAF-2 J, Class H, Class G, Class F, Class E, Class D, Class C, Class B and Class HAF-1 A-J Certificates shall be reduced sequentially as among such Classessequentially, in that order, in each case case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution DateIf, following after the distributions to Certificateholders to be made on such date pursuant to Section 4.01foregoing reductions, the Trustee shall determine the amount, if any, by which amount described in clause (i) the then aggregate of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Class Principal Balances of all the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances Classes of the Senior Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 A Certificates shall be reduced sequentially as among on a pro rata basis in accordance with the relative sizes of such Classes, in that order, in each case until such excess or the related Class Principal Balance Balances, until any such remaining excess is reduced to zero (whichever occurs first)zero. Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B each of REMIC I Regular InterestInterest MM-1, to equal the excessREMIC I Regular Interest MM-2, if anyREMIC I Regular Interest MM-3, of REMIC I Regular Interest 757-1 and REMIC I Regular Interest 757-2, the Stated Principal Balance of the applicable Loan Component of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicablethe case may be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Floating Rate Certificates)) and the Group FL REMIC III Regular Interests, exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates (exclusive of the Floating Rate Certificates) and the Group FL REMIC III Regular Interests shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance Balances of the Class A-J Certificates and the Class A-JFL REMIC III Regular Interest shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof; second, if and to the extent necessary, the Class Principal Balance Balances of the Class A-M Certificates, the Class A-MB Certificates and the Class A-MFL REMIC III Regular Interest shall be reducedreduced to zero, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates (exclusive of the Class A-2FL and Class A-4FL Certificates), the Class A-2FL REMIC III Regular Interest and the Class A-4FL REMIC III Regular Interest shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions Any Realized Losses and Additional Trust Fund Expenses allocated to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of A-2FL REMIC III Regular Interest shall, in turn, be deemed allocated to the Class HAF A-2FL Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then ; any Realized Losses and Additional Trust Fund Expenses allocated to the Class Principal Balances of A-4FL REMIC III Regular Interest shall, in turn, be deemed allocated to the Class HAF-11, A-4FL Certificates; any Realized Losses and Additional Trust Fund Expenses allocated to the Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such ClassesA-MFL REMIC II Regular Interest shall, in that orderturn, be deemed allocated to the Class A-MFL Certificates; and any Realized Losses and Additional Trust Fund Expenses allocated to the Class A-JFL REMIC II Regular Interest shall, in each case until such excess or the related Class Principal Balance is reduced turn, be deemed allocated to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC A-JFL Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates and the respective Group FL REMIC III Regular Interests pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Floating Rate Certificates) or any Group FL REMIC III Regular Interest is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' 's or such Group FL REMIC III Regular Interest's Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(n), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n4.01(o), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB Commercial Mortgage Trust 2007-C3), Pooling and Servicing Agreement (LB Commercial Mortgage Trust 2007-C3)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Class IUU Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF IUU Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11IUU-10, Class HAF-10IUU-9, Class HAF-9IUU-8, Class HAF-8IUU-7, Class HAF-7, HAF-6IUU-6, Class HAF-5IUU-5, Class HAF-4IUU-4, Class HAF-3IUU-3, Class HAF-2 IUU-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 IUU-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C1), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C1)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular InterestsInterest ___-B and REMIC I Regular Interest ___-B) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF ___ Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests Interest ___-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11___-4, Class HAF-10___-3, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 ___-2 and Class HAF-1 ___-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC ___ Certificates, exceeds (ii) the Uncertificated Principal Balance of the REMIC I Regular Interest STUR-B ___-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15___-7, Class SBC-14___-6, Class SBC-13___-5, Class SBC-12___-4, Class SBC-11___-3, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 ___-2 and Class SBC-1 ___-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular InterestInterest ___-B, to equal the Stated Principal Balance of the ______________ Loan Component A-1b or, in the case of REMIC I Regular Interest ___-B, to equal the excess, if any, of the Stated Principal Balance of the related Split ______________ Trust Mortgage Loan or related Split any successor REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage LoanA-1a), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp Ii), Pooling and Servicing Agreement (Structured Asset Securities Corp Ii)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, follows until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (orLoan, in as the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicablemay be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C5), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C5)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11T, Class HAF-10S, Class HAF-9Q, Class HAF-8P, Class HAF-7, HAF-6N, Class HAF-5M, Class HAF-4L, Class HAF-3K, Class HAF-2 J, Class H, Class G, Class F, Class E, Class D, Class C and Class HAF-1 B Certificates shall be reduced sequentially as among such Classessequentially, in that order, in each case case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution DateIf, following after the distributions to Certificateholders to be made on such date pursuant to Section 4.01foregoing reductions, the Trustee shall determine the amount, if any, by which amount described in clause (i) the then aggregate of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Class Principal Balances of all the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances Classes of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 A Certificates shall be reduced sequentially as among on a pro rata basis in accordance with the relative sizes of such Classes, in that order, in each case until such excess or the related Class Principal Balance Balances, until any such remaining excess is reduced to zero (whichever occurs first)zero. Any and all such reductions in -252- the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (orLoan, in as the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicablemay be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C7)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11T, Class HAF-10S, Class HAF-9Q, Class HAF-8P, Class HAF-7, HAF-6N, Class HAF-5M, Class HAF-4L, Class HAF-3K, Class HAF-2 J, Class H, Class G, Class F, Class E, Class D, Class C and Class HAF-1 B Certificates shall be reduced sequentially as among such Classessequentially, in that order, in each case case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution DateIf, following after the distributions to Certificateholders to be made on such date pursuant to Section 4.01foregoing reductions, the Trustee shall determine the amount, if any, by which amount described in clause (i) the then aggregate of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Class Principal Balances of all the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances Classes of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 A Certificates shall be reduced sequentially as among on a pro rata basis in accordance with the relative sizes of such Classes, in that order, in each case until such excess or the related Class Principal Balance Balances, until any such remaining excess is reduced to zero (whichever occurs first)zero. Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (orLoan, in as the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicablemay be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb-Ubs Comm Mort Trust 2004-C2)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, to the extent necessary, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(m), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(n), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n4.01(o), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C7)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Class A-2FL Certificates)) and the Class A-2FL REMIC III Regular Interest, exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates (exclusive of the Class A-2FL Certificates) and the Class A-2FL REMIC III Regular Interest shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, to the extent necessary, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates (exclusive of the Class A-2FL Certificates) and the Class A-2FL REMIC III Regular Interest shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions Any Realized Losses and Additional Trust Fund Expenses allocated to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of A-2FL REMIC III Regular Interest shall, in turn, be deemed allocated to the Class HAF A-2FL Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Class A-2FL Certificates) or of the Class A-2FL REMIC III Regular Interest is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' the Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) with respect thereto shall be deemed to have first been -280- reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(n), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n4.01(o), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2008-C1)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) Interests shall be deemed to have first been reduced on such Distribution Date by the exact same amount, with 40% of such reduction to be made to the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest with the designation that ends "--Prime" and 60% of such reduction to be made to the Uncertificated Principal Balance(s) of such Class' other Corresponding REMIC II Regular Interest(s). If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular InterestsInterests (in addition to a Corresponding REMIC II Regular Interest with a designation ending "--Prime"), then the respective Uncertificated Principal Balances of such two or more additional Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such additional Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such additional Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C2)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11T, Class HAF-10S, Class HAF-9Q, Class HAF-8P, Class HAF-7, HAF-6N, Class HAF-5M, Class HAF-4L, Class HAF-3K, Class HAF-2 J, Class H, Class G, Class F, Class E, Class D, Class C and Class HAF-1 B Certificates shall be reduced sequentially as among such Classessequentially, in that order, in each case case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution DateIf, following after the distributions to Certificateholders to be made on such date pursuant to Section 4.01foregoing reductions, the Trustee shall determine the amount, if any, by which amount described in clause (i) the then aggregate of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Class Principal Balances of all the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances Classes of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 A Certificates shall be reduced sequentially as among on a pro rata basis in accordance with the relative sizes of such Classes, in that order, in each case until such excess or the related Class Principal Balance Balances, until any such remaining excess is reduced to zero (whichever occurs first)zero. Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B each of REMIC I Regular InterestInterest TPP-1 and REMIC I Regular Interest TPP-2, to equal the excess, if any, of the Stated Principal Balance of the related Split applicable Loan Component of the Two Penn Plaza Trust Mortgage Loan or related Split any successor REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loanwith respect thereto), as applicablethe case may be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C6)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7)

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Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular InterestsInterest CM-B and REMIC I Regular Interest SP-B) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF CM Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests Interest CM-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11CM-4, Class HAF-10CM-3, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 CM-2 and Class HAF-1 CM-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC SP Certificates, exceeds (ii) the Uncertificated Principal Balance of the REMIC I Regular Interest STURSP-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15SP-7, Class SBC-14SP-6, Class SBC-13SP-5, Class SBC-12SP-4, Class SBC-11SP-3, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 SP-2 and Class SBC-1 SP-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular InterestInterest SP-B, to equal the Stated Principal Balance of the Station Place I Loan Component A-1b or, in the case of REMIC I Regular Interest CM-B, to equal the excess, if any, of the Stated Principal Balance of the related Split Cherryvale Mall Trust Mortgage Loan or related Split any successor REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage LoanA-1a), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C7)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11T, Class HAF-10S, Class HAF-9Q, Class HAF-8P, Class HAF-7, HAF-6N, Class HAF-5M, Class HAF-4L, Class HAF-3K, Class HAF-2 J, Class H, Class G, Class F, Class E, Class D, Class C and Class HAF-1 B Certificates shall be reduced sequentially as among such Classessequentially, in that order, in each case case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution DateIf, following after the distributions to Certificateholders to be made on such date pursuant to Section 4.01foregoing reductions, the Trustee shall determine the amount, if any, by which amount described in clause (i) the then aggregate of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Class Principal Balances of all the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances Classes of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 A Certificates shall be reduced sequentially as among on a pro rata basis in accordance with the relative sizes of such Classes, in that order, in each case until such excess or the related Class Principal Balance Balances, until any such remaining excess is reduced to zero (whichever occurs first)zero. Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B each of REMIC I Regular InterestInterest TPP-1 and REMIC I Regular Interest TPP-2, to equal the excess, if any, of the Stated Principal Balance of the related Split applicable Loan Component of the Two Penn Plaza Mortgage Loan or any successor REO Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loanwith respect thereto), as applicablethe case may be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any the deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b4.01(l), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Ii Lb-Ubs Comm Mort Trust 2004-C4)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Class ML-1, Class ML-2, Class CBM-1, Class CBM-2 and Class CBM-3 Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated aggregate Stated Principal Balances Balance of the STML Group B REMIC I Regular InterestsCourtyard by Marriott Non-Pooled Loan Component and the 000 Xxxx Xxxxxx Non-Pooled Loan Component) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T T, Class S, Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class A-J and Class A-M Certificates shall be reduced sequentiallysequentially as among such Classes, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates)that order, in each case until such excess is eliminated or the applicable related Class Principal Balance has been is reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificatesforegoing reductions, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding such sentence, then the respective Class Principal Balances of all the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various outstanding Classes of the Senior Class A Certificates shall be reduced, reduced on a pro rata basis in accordance with the respective outstanding relative sizes of such Class Principal Balances thereofBalances, until any such remaining excess is reduced to zero. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF ML-1 and Class ML-2 Certificates, exceeds (ii) the aggregate Uncertificated Stated Principal Balance of the HAF STML Group B REMIC I Regular Interests 000 Xxxx Xxxxxx Non-Pooled Loan Component that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 ML-2 and Class HAF-1 ML-1 Certificates shall be reduced sequentially as among between such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC CBM-1, Class CBM-2 and Class CBM-3 Certificates, exceeds (ii) the Uncertificated Stated Principal Balance of REMIC I Regular Interest STURthe Courtyard by Marriott Non-B Pooled Loan Component that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15CBM-3, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 CBM-2 and Class SBC-1 CBM-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B each of REMIC I Regular InterestInterest ML-A-1-A, to equal the excessREMIC I Regular Interest ML-A-1-B, if anyREMIC I Regular Interest CBM-A-1-A and REMIC I Regular Interest CBM-A-1-B, of the Stated Principal Balance of the applicable Loan Component of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicablethe case may be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n4.01(l), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C3)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.014.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11S, Class HAF-10Q, Class HAF-9P, Class HAF-8N, Class HAF-7, HAF-6M, Class HAF-5L, Class HAF-4K, Class HAF-3J, Class HAF-2 H, Class G, Class F, Class E, Class D, Class C, Class B and Class HAF-1 A-J Certificates shall be reduced sequentially as among such Classessequentially, in that order, in each case case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution DateIf, following after the distributions to Certificateholders to be made on such date pursuant to Section 4.01foregoing reductions, the Trustee shall determine the amount, if any, by which amount described in clause (i) the then aggregate of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then the respective Class Principal Balances of all the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances Classes of the Senior Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 A Certificates shall be reduced sequentially as among on a pro rata basis in accordance with the relative sizes of such Classes, in that order, in each case until such excess or the related Class Principal Balance Balances, until any such remaining excess is reduced to zero (whichever occurs first)zero. Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l4.01(j), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(k), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (orLoan, in as the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicablemay be, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any the deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b4.01(l), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C1)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance -285- Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Floating Rate Certificates)) and the Group FL REMIC III Regular Interests, exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates (exclusive of the Floating Rate Certificates) and the Group FL REMIC III Regular Interests shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, to the extent necessary, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance Balances of the Class A-M Certificates and the Class A-MFL REMIC III Regular Interest shall be reducedreduced to zero, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates (exclusive of the Class A-2FL Certificates) and the Class A-2FL REMIC III Regular Interest shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions Any Realized Losses and Additional Trust Fund Expenses allocated to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of A-2FL REMIC III Regular Interest shall, in turn, be deemed allocated to the Class HAF A-2FL Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests that will be outstanding immediately following such Distribution Date. If such excess does exist, then ; and any Realized Losses and Additional Trust Fund Expenses allocated to the Class Principal Balances of A-MFL REMIC III Regular Interest shall, in turn, be deemed allocated to the Class HAF-11, Class HAF-10, Class HAF-9, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 and Class HAF-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC A-MFL Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STUR-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15, Class SBC-14, Class SBC-13, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 and Class SBC-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates and the respective Group FL REMIC III Regular Interests pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Floating Rate Certificates) or any Group FL REMIC III Regular Interest is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' 's or such Group FL REMIC III Regular Interest's Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m4.01(n), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n4.01(o), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C6)

Allocations of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date. If such excess does exist, then the respective Class Principal Balances of the various Classes of the Class B Through T Certificates shall be reduced sequentially, in reverse alphabetic order of the respective Class designations of such Classes of Certificates (beginning with the Class T Certificates and ending with the Class B Certificates), in each case until such excess is eliminated or the applicable Class Principal Balance has been reduced to zero (whichever occurs first). If, after the reduction to zero of the respective Class Principal Balances of all the Classes of Class B Through T Certificates, the amount described in clause (i) of the second preceding sentence (taking into account such reductions) still exceeds the amount described in clause (ii) of the second preceding sentence, then the respective Class Principal Balances of the various Classes of the Class A Certificates shall be reduced sequentially as follows, in each case to zero if necessary, until such remaining excess is eliminated: first, the Class Principal Balance of the Class A-J Certificates shall be reduced; second, if and to the extent necessary, the Class Principal Balance of the Class A-M Certificates shall be reduced; and last, if and to the extent necessary, the respective Class Principal Balances of the various Classes of the Senior Class A Certificates shall be reduced, on a pro rata basis in accordance with the respective outstanding Class Principal Balances thereof. On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class HAF FTH Certificates, exceeds (ii) the aggregate Uncertificated Principal Balance of the HAF STML Group B REMIC I Regular Interests Interest FTH-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class HAF-11FTH-5, Class HAF-10FTH-4, Class HAF-9FTH-3, Class HAF-8, Class HAF-7, HAF-6, Class HAF-5, Class HAF-4, Class HAF-3, Class HAF-2 FTH-2 and Class HAF-1 FTH-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Trustee shall determine the amount, if any, by which (i) the then aggregate of the Class Principal Balances of the Class SBC NBT Certificates, exceeds (ii) the Uncertificated Principal Balance of REMIC I Regular Interest STURNBT-B that will be outstanding immediately following such Distribution Date. If such excess does exist, then the Class Principal Balances of the Class SBC-15NBT-5, Class SBC-14NBT-4, Class SBC-13NBT-3, Class SBC-12, Class SBC-11, Class SBC-10, Class SBC-9, Class SBC-8, Class SBC-7, SBC-6, Class SBC-5, Class SBC-4, Class SBC-3, Class SBC-2 NBT-2 and Class SBC-1 NBT-1 Certificates shall be reduced sequentially as among such Classes, in that order, in each case until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). Any and all such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates pursuant to this Section 4.04(a) shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (b) If the Class Principal Balance of any Class of Principal Balance Certificates is reduced on any Distribution Date pursuant to Section 4.04(a), then the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest (or, if applicable, the aggregate Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interests) shall be deemed to have first been reduced on such Distribution Date by the exact same amount. If a Class of Principal Balance Certificates has two or more Corresponding REMIC II Regular Interests, then the respective Uncertificated Principal Balances of such Corresponding REMIC II Regular Interests shall be reduced as contemplated by the preceding sentence in the same sequential order that principal distributions are deemed made on such Corresponding REMIC II Regular Interests pursuant to Section 4.01(l), such that no reduction shall be made in the Uncertificated Principal Balance of any such Corresponding REMIC II Regular Interest pursuant to this Section 4.04(b) until the Uncertificated Principal Balance of each other such Corresponding REMIC II Regular Interest, if any, with an alphanumeric designation that ends in a lower number, has been reduced to zero. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC II Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (c) On each Distribution Date, following the deemed distributions to be made in respect of the REMIC I Regular Interests pursuant to Section 4.01(m), the Uncertificated Principal Balance of each REMIC I Regular Interest (after taking account of such deemed distributions) shall be reduced, if and to the extent necessary, to equal the Stated Principal Balance of the related Trust Mortgage Loan or REO Trust Mortgage Loan (or, in the case of an STML Group B REMIC I Regular Interest, to equal the excess, if any, of the Stated Principal Balance of the related Split Trust Mortgage Loan or related Split REO Trust Mortgage Loan, over the Uncertificated Principal Balance of the STML Group A REMIC I Regular Interest that corresponds to the same Split Trust Mortgage Loan or Split REO Trust Mortgage Loan), as applicable, that will be outstanding immediately following such Distribution Date. Any and all such reductions in the Uncertificated Principal Balances of the respective REMIC I Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses. (d) On each Distribution Date, following any deemed distributions to be made in respect of the Loan REMIC Regular Interests pursuant to Section 4.01(n), subject to Section 2.06(b), the Uncertificated Principal Balance of each Loan REMIC Regular Interest (after taking account of such deemed distributions) shall be reduced to equal the Stated Principal Balance of the related Early Defeasance Trust Mortgage Loan or any successor REO Trust Mortgage Loan with respect thereto, as the case may be, that will be outstanding immediately following such Distribution Date. Any such reductions in the Uncertificated Principal Balances of the respective Loan REMIC Regular Interests shall be deemed to constitute allocations of Realized Losses and Additional Trust Fund Expenses.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C3)

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