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Common use of Compensating Interest; Allocation of Certain Interest Shortfalls Clause in Contracts

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall.

Appears in 7 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 6 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 5 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 4 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2006-A1), Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2005-A1), Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2005-A2)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Soldiers' and Sailors' Civil Relief Act of 1940, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp), Pooling and Servicing Agreement (Chase Funding Inc), Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes or Components of Certificates pro rata based upon the amount of interest to which each such Class or Component would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 3 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-29 Certificates, added to the Principal Balance of such Class, prior to the Class A-29 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-29 Certificates, added to the Principal Balance of such Class, prior to the Class A-29 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2005-S2), Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2005-S2)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Stated Principal Balance of the Mortgage loans Loans with respect to the Due Date in the month immediately preceding the month of such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical Class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical Class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (ChaseFlex Trust Series 2006-1), Pooling and Servicing Agreement (ChaseFlex Trust Series 2006-2)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 2 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 2 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Servicemembers Civil Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp), Pooling and Servicing Agreement (Chase Mortgage Finance Corp Chase Mort Fin Tr Sers 2004 S3)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Stated Principal Balance of the Mortgage loans Loans with respect to the Due Date in the month immediately preceding the month of such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical Class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical Class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class A-2 Certificates is greater than zero, the interest portion of any Excess Losses that would otherwise be allocated to the Class A-1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-2 Certificates.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (ChaseFlex Trust Series 2007-2), Pooling and Servicing Agreement (ChaseFlex Trust Series 2007-2)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 2 contracts

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

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-4, Class A-9 and Class A-10 Certificates, added to the principal balance of each such Class, prior to the Class A-4 Accretion Component One Termination Date, Class A-4 Accretion Component Two Termination Date, Class A-9 Accretion Termination Date and Class A-13 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-4, Class A-9 and Class A-13 Certificates, added to the principal balance of each such Class, prior to the Class A-4 Component One Accretion Termination Date, Class A-4 Component Two Accretion Termination Date, Class A-9 Accretion Termination Date, Class A-13 Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Soldiers' and Sailors' Civil Relief Act of 1940, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-Non- PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-15, Class A-19 and Class 20 Certificates, added to the principal balance of such Class, prior to the Class A-15 Accretion Termination Date, Class A-19 Accretion Termination Date and Class A-20 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-15, Class A-19 and Class A-20 Certificates, added to the principal balance of such Class, prior to the Class A-15 Accretion Termination Date, Class A-19 Accretion Termination Date and Class A-20 Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-11 Certificates, added to the principal balance of such Class, prior to the Class A-11 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-11 Certificates, added to the principal balance of such Class, prior to the Class A-11 Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust, Series 2004-S4)

Compensating Interest; Allocation of Certain Interest Shortfalls. (ai) Upon a Principal Prepayment of a Pool 1 Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Pool 1 Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "“Pool 1 Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Pool 1 Mortgage loans Loans with respect to such Distribution Date. (ii) Upon a Principal Prepayment of a Pool 2 Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Pool 2 Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, “Pool 2 Compensating Interest”); provided, however, that with respect to any Distribution Date, the Servicer’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Stated Principal Balance of the Pool 2 Mortgage Loans with respect to the Due Date in the month immediately preceding the month of such Distribution Date. (b) On any Distribution DateDate with respect to Mortgage Pool 1, the excess, if any, of (X) Pool 1 Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (aa)(i) above for such Distribution Date shall equal the "“Pool 1 Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Pool 1 Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class 1-A, Class 1-M and Class 1-B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool I Compensating Interest Shortfall. On any Distribution Date with respect to Mortgage Pool 2, the excess, if any, of (X) Pool 2 Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in Collection Account pursuant to (a)(ii) above for such Distribution Date shall equal the “Pool 2 Compensating Interest Shortfall” with respect to such Distribution Date. On any Distribution Date, the Pool 2 Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class 2-A, Class 2-M and Class 2-B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool 2 Compensating Interest Shortfall. (c) The On any Distribution Date with respect to Mortgage Pool 1, the interest portion of any Realized Losses ("“Pool 1 Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Pool 1 Excess Losses) shall be allocated to the NonClass of Pool 1 Subordinated Certificates then outstanding having the highest numerical Class designation (for this purpose, the Class 1-PO M Certificates shall be deemed to have a lower numerical Class designation than each Class of Class 1-B Certificates) or, if no Class of Pool 1 Subordinated Certificates is then outstanding, to the Class 1-A Certificates pro rata among the outstanding Classes of NonClass 1-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool 1 Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Pool 1 Excess Losses shall be allocated pro rata among the outstanding Classes of Pool 1 Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool 1 Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ChaseFlex Trust Series 2007-M1)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses shall be allocated to the Non-Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non- PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-3 Certificates, added to the principal balance of such Class, prior to the Class A-3 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-3 Certificates, added to the principal balance of such Class, prior to the Class A-3 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid (or have added to the Outstanding Certificate Principal Balance of such Class, in the case of the Class A-12 or Class A-13 Certificates) on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or have added to the Outstanding Certificate Principal Balance of such Class, in the case of the Class A-12 or Class A-13 Certificates) on such Distribution Date had there been no such Realized Loss Interest Shortfall.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-15 Certificates, added to the Principal Balance of such Class, prior to the Class A-15 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-15 Certificates, added to the Principal Balance of such Class, prior to the Class A-15 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2005-S3)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Pool I Mortgage Loan, the Servicer shall deposit into the Pool I Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Pool I Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "“Pool I Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Pool I Mortgage loans Loans with respect to such Distribution Date. Upon a Principal Prepayment of a Pool II Mortgage Loan, the Servicer shall deposit into the Pool II Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Pool II Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, “Pool II Compensating Interest”); provided, however, that with respect to any Distribution Date, the Servicer’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Stated Principal Balance of the Pool II Mortgage Loans with respect to the Due Date in the month immediately preceding the month of such Distribution Date. (b) On any Distribution DateDate with respect to Mortgage Pool I, the excess, if any, of (X) Pool I Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Pool I Collection Account pursuant to (a) above for such Distribution Date shall equal the "“Pool I Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Pool I Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class I-A (excluding the Class A-P Certificates), Class I-M and Class I-B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool I Compensating Interest Shortfall. On any Distribution Date with respect to Mortgage Pool II, the excess, if any, of (X) Pool II Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Pool II Collection Account pursuant to (a) above for such Distribution Date shall equal the “Pool II Compensating Interest Shortfall” with respect to such Distribution Date. On any Distribution Date, the Pool II Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class II-A, Class II-M and Class II-B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool II Compensating Interest Shortfall. (c) The On any Distribution Date with respect to Mortgage Pool I, the interest portion of any Realized Losses ("“Pool I Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Pool I Excess Losses) shall be allocated to the NonClass of Pool I Subordinated Certificates then outstanding having the highest numerical Class designation (for this purpose, the Class I-PO M Certificates shall be deemed to have a lower numerical Class designation than each Class of Class I-B Certificates) or, if no Class of Pool I Subordinated Certificates is then outstanding, to the Class I-A Certificates pro rata among the outstanding Classes of NonClass I-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool I Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Pool I Excess Losses shall be allocated pro rata among the outstanding Classes of Pool I Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Pool I Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ChaseFlex Trust Series 2007-3)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the Class 1-A13 or Class 2-A9 Certificates, added to the principal balance of such Class, prior to the Class 1-A13 Accretion Termination Date or Class 2-A9 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the Class 1-A13 or Class 2-A9 Certificates, added to 104 the principal balance of such Class, prior to the Class 1-A13 Accretion Termination Date or Class 2-A9 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2006-S2)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid (or have added to the Outstanding Certificate Principal Balance of such Class, in the case of the Class A-7, Class A-8, Class A-10, Class A-11 or Class A-12 Certificates) on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or have added to the Outstanding Certificate Principal Balance of such Class, in the case of the Class A-7, Class A-8, Class A-10, Class A-11 or Class A-12 Certificates) on such Distribution Date had there been no such Realized Loss Interest Shortfall.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-3 Certificates, added to the principal balance of such Class, prior to the Class A-3 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-3 Certificates, added to the principal balance of such Class, prior to the Class A-3 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2006-S1)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M A and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Class B Certificates then outstanding having the highest numerical class designation or, secondif no Class of Class B Certificates is then outstanding, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Soldiers' and Sailors' Civil Relief Act of 1940, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest 92 98 (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal the aggregate Servicing Fees (without regard to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance entitlement of the Mortgage loans Servicer to a Servicing Fee with respect to such the Mortgage Loan being prepaid) received by the Servicer for the related Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes and Components of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class or Component would otherwise be paid (or, in the case of the Class A-7 Certificates, have added to the Outstanding Certificate Principal Balance thereof) on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof shall be allocated to the Non-PO Class A Certificates pro rata among the outstanding Classes and Components of Non-PO Class A Certificates based on the amount of interest to which each such Class or Component would otherwise be paid (or, in the case of the Class A-7 Certificates, have added to the Outstanding Certificate Principal Balance thereof) on such Distribution Date had there been no such Realized Loss Interest Shortfall.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Homeside Mortgage Securities Inc /De/)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of related Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid entitled on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be entitled.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-A3)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-5 Certificates, added to the principal balance of such Class, prior to the Class A-5 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-5 Certificates, added to the principal balance of such Class, prior to the Class A-5 Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net 91 Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the Class 1-A7 Certificates, added to the principal balance of such Class, prior to the Class 1-A7 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the Class 1-A7 Certificates, added to the principal balance of such Class, prior to the Class 1-A7 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2006-S3)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the Class A-6 and Class A-7 Certificates, added to the Outstanding Certificate Principal Balance of such Class, prior to the Class A-6 Accretion Termination Date and Class A-7 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the Class A-6 and Class A-7 Certificates, added to the Outstanding Certificate Principal Balance of such Class, prior to the Class A-6 Accretion Termination Date and Class A-7 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class A-3 Certificates is greater than zero, the interest portion of any Excess Losses that would otherwise be allocated to the Class A-2 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-3 Certificates; provided further, however, that so long as the Outstanding Certificate Principal Balance of the Class A-9 Certificates is greater than zero, (A) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-4 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-9 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-9 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-9 Certificates) and (y) 60.61%, (B) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-8 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-9 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-9 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-9 Certificates) and (y) 2.36% and (C) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-12 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-9 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-9 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-9 Certificates) and (y) 37.03%. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S4)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates), or, if no Class of Subordinated Certificates is then outstanding to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or (x) in the case of the Class A-7 Certificates, added to the principal balance of such Class, on or after the Distribution Date in December 2008 and prior to the Class A-7 Accretion Termination Date or (y) in the case of the Class A-13 Certificates, added to the principal balance of such Class, prior to the Class A-13 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or (x) in the case of the Class A-7 Certificates, added to the principal balance of such Class, on or after the Distribution Date in December 2008 and prior to the Class A-7 Accretion Termination Date or (y) in the case of the Class A-13 Certificates, added ot the principal balance of such Class, prior to the Class A-13 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2006-S4)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class IIA-6 and Class IIA-10 Certificates, added to the principal balance of each such Class, prior to the Class IIA-6 Accretion Termination Date and Class IIA-10 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class IIA-6 and Class IIA-10 Certificates, added to the principal balance of each such Class, prior to the Class IIA-6 Accretion Termination Date and Class IIA-10 Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Soldiers' and Sailors' Civil Relief Act of 1940, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment With respect to any Payoff of a Mortgage LoanLoan which occurs between the fifteenth day of such month and the last day of a month, the Servicer shall shall, on the Servicer Remittance Date relating to the Principal Prepayment Period during which such Payoff occurred, deposit into the Collection Certificate Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest")) ; provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the sum of (A) the product of (i) one-twelfth of 0.1250.02% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans serviced by it with respect to such Distribution Date, (B) the aggregate Payoff Earnings with respect to the Mortgage Loans and (C) the aggregate Payoff Interest with respect to the Mortgage Loans. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, of no class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-2 and Class A-4 Certificates, added to the principal balance of such Class, prior to the Class A-2 Accretion Termination Date and Class A-4 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-2 or Class A-4 Certificates, added to the principal balance of such Class, prior to the Class A-2 Accretion Termination Date or Class A-4 Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the 101 outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class 1-A4 Certificates, added to the principal balance of such Class, prior to the Class 1-A34 Accretion Termination Date or in the case of the Class 1-A11 or Class 1-A12 Certificates, added to the principal balance of such Classes, prior to the Class 1-A11/Class 1-A12 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class 1-A4 Certificates, added to the principal balance of such Class, prior to the Class 1-A34 Accretion Termination Date or in the case of the Class 1-A11 or Class 1-A12 Certificates, added to the principal balance of such Classes, prior to the Class 1-A11/Class 1-A12 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2005-S1)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class 70 B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-5 Certificates, added to the principal balance of such Class, prior to the Class A-5 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-5 Certificates, added to the principal balance of such Class, prior to the Class A-5 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses shall be allocated to the Non-Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non- PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest to which each such Class would otherwise be paid entitled on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be entitled on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S6)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall; provided, however, that for so long as the Class A-3 Certificates are outstanding, any portion of any Realized Loss Interest Shortfall that would otherwise be allocated to the Class A-2 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-3 Certificates. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however provided, however, that for so long as the Class A-3 Certificates are outstanding, the interest portion of any Excess Loss that would otherwise be allocated to the Class A-2 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-3 Certificates. (d) Any interest shortfall resulting from the Soldiers' and Sailors' Civil Relief Act of 1940, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-7 Certificates, added to the principal balance of such Class, prior to the Class A-7 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-7 Certificates, added to the principal balance of such Class, prior to the Class A-7 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class A-6 Certificates is greater than zero, (A) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-6 Certificates) and (y) 78.00%, (B) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-4 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-6 Certificates) and (y) 5.10% and (C) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-8 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-6 Certificates) and (y) 16.90%.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S1)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the Class 2-A12 Certificates, added to the principal balance of such Class, prior to the Class 2-A12 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the Class 2-A12 Certificates, added to the principal balance of such Class, prior to the Class 2-A12 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that for so long as the Class 1-A2 or Class 2-A2 Certificates, respectively, are outstanding, the interest portion of any Excess Loss that would otherwise be allocated to the Class 1-A3 or Class 2-A3 Certificates, respectively, in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A2 or Class 2-A2 Certificates, respectively; provided further, however, that the interest portion of any Excess Loss that would otherwise be allocated to the Class 2-A5 Certificates directly in accordance with this Section 6.05(c) will be allocated pro rata among the Class 2-A5 Component One and the Class 2-A5 Component Two; provided further, however, that the interest portion of any Excess Loss that would otherwise be allocated to the Class 2-A10 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 2-A5 Component One, until the principal balance of the Class 2-A5 Component One has been reduced to zero; and provided further, however, that the interest portion of any Excess Loss that would otherwise be allocated to the Class 2-A6 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 2-A5 Component Two, until the principal balance of the Class 2-A5 Component Two has been reduced to zero.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ChaseFlex Trust Series 2007-1)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this 105 purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the Class 1-A3 and Class 1-A4 Certificates, added to the principal balance of such Class prior to the Class 1-A3 Accretion Termination Date or Class 1-A4 Accretion Termination Date, respectively, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the Class 1-A3 and Class 1-A4 Certificates, added to the principal balance of such Class prior to the Class 1-A3 Accretion Termination Date or Class 1-A4 Accretion Termination Date, respectively, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates is greater than zero, (A) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A6 Certificates) and (y) 33.10%, (B) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A12 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A6 Certificates) and (y) 31.80%, (C) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A14 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A6 Certificates) and (y) 3.83%, (D) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A15 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A6 Certificates) and (y) 6.88%, (E) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A16 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A6 Certificates) and (y) 17.46%, and (F) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A19 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A6 Certificates) and (y) 6.92%. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date. 106

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S3)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall; provided, however, that for so long as the Class A-4 Certificates are outstanding, any portion of any Realized Loss Interest Shortfall that would otherwise be allocated to the Class A-1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-4 Certificates. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however provided, however, that for so long as the Class A-4 Certificates are outstanding, the interest portion of any Excess Loss that would otherwise be allocated to the Class A-1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-4 Certificates. (d) Any interest shortfall resulting from the Soldiers' and Sailors' Civil Relief Act of 1940, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class IA-3 Certificates, added to the principal balance of such Class, prior to the Class IA-3 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class IA-3 Certificates, added to the principal balance of such Class, prior to the Class IA-3 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the Class 1-A3 Certificates, added to the principal balance of such Class, prior to the Class 1-A3 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the Class 1-A3 Certificates, added to the principal balance of such Class, prior to the Class 1-A3 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class 1-A5 Certificates is greater than zero, (A) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A5 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A5 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A5 Certificates) and (y) 69.67%, (B) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A7 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A5 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A5 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A5 Certificates) and (y) 17.22% and (C) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A9 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A5 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A5 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A5 Certificates) and (y) 13.11%. (d) Any interest shortfall resulting from the Relief Act shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S2)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes or Components of Non-PO Class A Certificates based on the amount of interest to which each such Class or Component would otherwise be paid (or, in the case of the Class A-5 Certificates and Class A-1 Component Three, added to the principal balance of each such Class or Component, prior to the Class A-5 Accretion Termination Date and the Class A-1 Component Three Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or, in the case of the Class A-5 Certificates and Class A-1 Component Three, added to the principal balance of each such Class or Component, prior to the Class A-5 Accretion Termination Date and the Class A-1 Component Three Accretion Termination Date, respectively) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125[ ]% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class A-6 Certificates is greater than zero, (A) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-1 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-6 Certificates) and (y) [ ]%, (B) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-4 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-6 Certificates) and (y) [ ]% and (C) the interest portion of any Excess Losses that would otherwise be allocated to the Class A-8 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-6 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class A-6 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class A-6 Certificates) and (y) [ ]%.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-7 and Class A-10 Certificates, added to the principal balance of such Class, prior to the Class A-7 Accretion Termination Date and Class A-10 Accretion Termination Date, respectively) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-7 or Class A-10 Certificates, added to the principal balance of such Class, prior to the Class A-7 Accretion Termination Date or Class A-10 Accretion Terminxxxxx Xxxx, xxxxxxxxxxxx) xx xxxx Xxxxxxxxxxxx Xxxx xxx xxxxx xxxx xx xxch Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest to which each such Class would otherwise be paid entitled (or in the case of the Class IA-10 Certificates, added to the principal balance of such Class, prior to the Class IA-10 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be entitled (or in the case of the Class IA-10 Certificates, added to the principal balance of such Class, prior to the Class IA-10 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall; provided, however, that for so long as the Class A-4 Certificates are outstanding, any portion of any Realized Loss Interest Shortfall that would otherwise be allocated to the Class A-3 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-4 Certificates. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however provided, however, that for so long as the Class A-4 Certificates are outstanding, the interest portion of any Excess Loss that would otherwise be allocated to the Class A-3 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class A-4 Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's ’s obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") shall be allocated as follows: first, to (other than the Class B-5 Certificates, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof interest portion of Excess Losses) shall be allocated to the Non-PO Class of Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, the Class M Certificates shall be deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Class A Certificates (other than the Class A-P Certificates) pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be paid entitled (or in the case of the (1) Class 1-A3 Certificates, (2) Class 1-A15 Certificates and (3) Class 1-A18 Certificates, added to the principal balance of such Class (1) prior to the Class 1-A3 Accretion Termination Date, (2) on or after July 2011 and prior to the Class 1-A15 Accretion Termination Date or (3) prior to the Class 1- A18 Accretion Termination Date, respectively, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest (disregarding any Basis Risk Shortfall Carryover Amount) to which each such Class would otherwise be entitled (or in the case of the (1) Class 1-A3 Certificates (2) Class 1-A15 Certificates and (3) Class 1-A18 Certificates, added to the principal balance of such Class (1) prior to the Class 1-A3 Accretion Termination Date, (2) on or after July 2011 and prior to the Class 1-A15 Accretion Termination Date or (3) prior to the Class 1-A18 Accretion Termination Date, respectively, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates is greater than zero, (A) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A1 Certificates (or to any portion thereof exchanged for Class 1-A19 Certificates) in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A7 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A7 Certificates) and (y) 66.17%, (B) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A8 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A7 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A7 Certificates) and (y) 14.70%, (C) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A11 Certificates in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A7 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A7 Certificates) and (y) 2.86%, (D) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A13 Certificates (or to any portion thereof exchanged for Class 1-A22 Certificates) in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A7 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A7 Certificates) and (y) 4.27%, (E) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A14 Certificates (or to any portion thereof exchanged for Class 1-A22 Certificates) in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A7 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A7 Certificates) and (y) 10.71% and (F) the interest portion of any Excess Losses that would otherwise be allocated to the Class 1-A15 Certificates (or to any portion thereof exchanged for Class 1-A22 Certificates) in accordance with this Section 6.05(c) will instead be allocated to the Class 1-A7 Certificates, but only in an amount up to the product of (x) the Outstanding Certificate Principal Balance of the Class 1-A7 Certificates (after reduction of such Outstanding Certificate Principal Balance after giving effect to the pro rata application of Realized Losses directly to the Class 1-A7 Certificates) and (y) 1.29%; provided, however, that so long as the Outstanding Certificate Principal Balance of the Class 1-A21 Certificates is greater than zero, any Realized Losses (other than Excess Losses) that would otherwise be allocated to the Class 1-A20 Certificates will instead be allocated to the Class 1-A21 Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Trust Series 2007-S5)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") (other than the interest portion of Excess Losses) shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates (other than the Class A-P Certificates) based on the amount of interest to which each such Class would otherwise be entitled (or in the case of the Class IA-5 or Class IIA-3 Certificates, added to the principal balance of such Class, prior to the Class IA-5 Accretion Termination Date or Class IIA-3 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be entitled (or in the case of the Class IA-5 or Class IIA-3 Certificates, added to the principal balance of such Class, prior to the Class IA-5 Accretion Termination Date or Class IIA-3 Accretion Termination Date, as applicable) on such Distribution Date had there been no such Excess Losses allocable to interest. (d) Any interest shortfall resulting from the Relief Act or any similar state legislation, as amended shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest ShortfallDate.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer CMMC or Countrywide, as applicable, shall deposit into the related Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the each Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) in the case of CMMC, the aggregate Scheduled Principal Balance of the CMMC Serviced Mortgage loans Loans and in the case of Countrywide, the aggregate Scheduled Principal Balance of the Countrywide Serviced Mortgage Loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates) or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-15 Certificates, added to the principal balance of such Class, prior to the Class A-15 Accretion Termination Date) on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated pro rata among the outstanding Classes of Certificates based upon the amount of interest to which each such Class would otherwise be paid (or in the case of the Class A-15 Certificates, added to the principal balance of such Class, prior to the Class A-15 Accretion Termination Date) on such Distribution Date had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)

Compensating Interest; Allocation of Certain Interest Shortfalls. (a) Upon a Principal Prepayment of a Mortgage Loan, the Servicer shall deposit into the Collection Account from its own funds, as a reduction of its servicing compensation hereunder, an amount, if any, by which the amount of the interest that would otherwise accrue with respect to such Mortgage Loan from the date of prepayment to the Due Date in the related Due Period at the Net Mortgage Rate exceeds the amount of the interest (adjusted to the Net Mortgage Rate) collected from the Mortgagor with respect to such period (such amount, "Compensating Interest"); provided, however, that with respect to any Distribution Date, the Servicer's obligation to deposit any such amount is limited to an amount equal to the product of (i) one-twelfth of 0.125% and (ii) the aggregate Scheduled Principal Balance of the Mortgage loans with respect to such Distribution Date. (b) On any Distribution Date, the excess, if any, of (X) Compensating Interest with respect to such Distribution Date over (Y) the amount deposited in the Collection Account pursuant to (a) above for such Distribution Date shall equal the "Compensating Interest Shortfall" with respect to such Distribution Date. On any Distribution Date, the Compensating Interest Shortfall shall be allocated pro rata among the outstanding Classes of Class A, Class M and Class B Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Compensating Interest Shortfall. (c) The On any Distribution Date, the interest portion of any Realized Losses ("Realized Loss Interest Shortfall") other than the interest portion of Excess Losses shall be allocated as follows: first, to the Class B-5 Certificatesof Subordinated Certificates then outstanding having the highest numerical class designation (for this purpose, second, to the Class B-4 Certificates, third, to the Class B-3 Certificates, fourth, to the Class B-2 Certificates, fifth, to the Class B-1 Certificates, sixth, to the Class M Certificates, in each case until the Outstanding Certificate Principal Balance thereof has been reduced to zero, and seventh, the remainder thereof Certificates shall be allocated deemed to have a lower numerical class designation than each Class of Class B Certificates or, if no Class of Subordinated Certificates is then outstanding, to the Non-PO Class A Certificates pro rata among the outstanding Classes of Non-PO Class A Certificates based on the amount of interest to which each such Class would otherwise be paid on such Distribution Date had there been no such Realized Loss Interest Shortfall. On any Distribution Date, the interest portion of any Excess Losses shall be allocated among all Classes of Certificates pro rata based upon the amount of interest to which each such Class would otherwise be paid on such Distribution Date (calculated in the case of the Class A-10 Certificates at a rate of 6.50%) had there been no such Excess Losses allocable to interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)