Common use of Cross-Collateralization; Adjustment to Available Funds Clause in Contracts

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion Date, but after the date on which the aggregate Class Principal Balance of any Group of Senior Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one or more of the Groups of Senior Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Thru Cert Series 2004-1), Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Thru Cert Series 2004-1)

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Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any either of the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group III, Group IV and Group V Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group III, Group IV or Group V Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between among the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III, Group IV and Group V Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more Group II Certificates is greater than the aggregate Stated Principal Balance of the Groups Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). (c) If on any Distribution Date the Class Principal Balance of the Group III, Group IV or Group V Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group III, Group IV and Group V is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group III, Group IV and Group V is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-9)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group III and Group IV Certificates, but after the date on which the aggregate Class Principal Balance of either the Group III or Group IV Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III and Group IV Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). . (c) If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution DateDate the Class Principal Balance of the Group III or Group IV Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (such Loan Group, reductions in an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Groups Loan Group, an “Overcollateralized Group”), as follows: (1) to make add to the payments required Available Distribution Amount of the Undercollateralized Group an amount equal to be made pursuant the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to 4.06(b) the Senior Certificates of the Overcollateralized Group on such Distribution Date shall be made pro rata, based on pursuant to Section 4.01; and (2) to the Overcollateralization Amount for each Overcollateralized Group. If more than one Senior Certificates of the Groups Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates is an of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group on any Distribution Date, payments made to equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Groups from the Overcollateralized Group(s) Loan Group). Payments shall be made pro rata, based on the amount of payments required to be made to the Senior Certificates in the Undercollateralized GroupsGroup in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-3)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group II, Group III and Group V Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior II, Group III or Group V Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group II, Group III and Group V Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group I and Group IV Certificates, but after the date on which the aggregate Class Principal Balance of either the Group I or Group IV Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group IV Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group II, Group III or more of the Groups of Senior Group V Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group or on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group II, Group III and Group V is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group II, Group III and Group V is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups. (c) If on any Distribution Date the Class Principal Balance of the Group I or Group IV Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A).

Appears in 1 contract

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

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion Date, Date but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 or Group 8 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A)4.01; provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 or more of the Groups of Senior Group 8 Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) : to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) and to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group 1, Group 2, Group 3, Group 4, Group 5, Group 6, Group 7 and Group 8 is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TBW 2006-2)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group 5, Group 6 and Group 8 Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 5, Group 6 or Group 8 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between among the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 5, Group 6 and Group 8 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group 1, Group 2, Group 3, Group 4 and Group 7 Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group 1, Group 2, Group 3, Group 4 or Group 7 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 1, Group 2, Group 3, Group 4 and Group 7 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 5, Group 6 or more of the Groups of Senior Group 8 Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-11)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group 2 and Group 3 Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 2 or Group 3 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates (other than any Class P Certificates) in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 2 and Group 3 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage that are 60-Day Delinquent Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 2 or more of Group 3 Certificates (other than the Groups of Senior Certificates Class 2-P and Class 3-P Certificates) is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) and the amount, if any, on deposit in the Prefunding Account relating to that Loan Group (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates)) of the Undercollateralized Group, to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates of the Undercollateralized Group (other than the any Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01 (A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-7)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion Date, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Senior Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between , in accordance with the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to payments for such Certificate Group set forth in Section 4.01(A); 4.01, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Pass-Through Rate applicable to the Undercollateralized Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), in accordance with the priority of principal payments for such Certificate Group set forth in Section 4.01, to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2003 19)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion Date, Date but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 1, Group 2, Group 3, Group 4, Group 5, Group 6 or Group 7 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 or more of the Groups of Senior Group 7 Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) : to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) and to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group 1, Group 2, Group 3, Group 4, Group 5, Group 6 and Group 7 is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TBW 2006-1)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group IV Certificates, but after the date on which the aggregate Class Principal Balance of either the Group I or Group IV Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group IV Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group II, Group III and Group V Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior II, Group III or Group V Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group II, Group III and Group V Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more Group IV Certificates is greater than the aggregate Stated Principal Balance of the Groups Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). (c) If on any Distribution Date the Class Principal Balance of the Group II, Group III or Group V Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group or on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group II, Group III and Group V is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group II, Group III and Group V is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

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

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group III, Group IV, Group V and Group VII Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior III, Group IV, Group V or Group VII Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III, Group IV, Group V and Group VII Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group I, Group II and Group VI Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group I, Group II or Group VI Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I, Group II and Group VI Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group III, Group IV, Group V or more of the Groups of Senior Group VII Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group III, Group IV, Group V and Group VII is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group III, Group IV, Group V and Group VII is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups. (c) If on any Distribution Date the Class Principal Balance of the Group I, Group II or Group VI Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of Group I, Group II and Group VI is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(c) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of Group I, Group II and Group VI is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-3)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group III Certificates, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group III Certificates (other than the applicable Class A-P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any the Class A-P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group III Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group III Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-1)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I, Group II, Group III and Group IV Certificates, but after the date on which the aggregate Class Principal Balance of any the Group of Senior I, Group II, Group III or Group IV Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Groups (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I, Group II, Group III and Group IV Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. On each Distribution Date prior to the Credit Support Depletion Date for the Group V and Group VI Certificates, but after the date on which the aggregate Class Principal Balance of either the related Senior Group V or Group VI Certificates and (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the Senior holders of the Certificates in each such of the other Certificate Group in the same priority as such Certificates would receive (other distributions of principal pursuant to Section 4.01(Athan any Class P Certificates); , pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group V and Group VI Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. (b) If on any Distribution Date the Class Principal Balance of one or more of the Groups of Senior Group I, Group II, Group III or Group IV Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such Undercollateralized Group at the Required Coupon for Pass-Through Rate applicable to such Loan Undercollateralized Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). . (c) If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution DateDate the Class Principal Balance of the Group V or Group VI Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (the “Undercollateralized Group”), reductions in then the Trust Administrator shall reduce the Available Distribution Amount of such Groups the other Loan Group (the “Overcollateralized Group”), as follows: (1) to make add to the payments required Available Distribution Amount of the Undercollateralized Group an amount equal to be made pursuant the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Pass-Through Rate applicable to 4.06(bthe Undercollateralized Group and (b) Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date shall be made pro rata, based on pursuant to Section 4.01; and (2) to the Overcollateralization Amount for each Overcollateralized Group. If more than one Senior Certificates of the Groups Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates is an of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group on any Distribution Date, payments made to equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized GroupsLoan Group).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certs Series 2003-8)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group 2, Group 3, Group 4 and Group 5 Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 2, Group 3, Group 4 or Group 5 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 2, Group 3, Group 4 and Group 5 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 2, Group 3, Group 4 or more of the Groups of Senior Group 5 Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1i) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2ii) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group 2, Group 3, Group 4 and Group 5 is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group 2, Group 3, Group 4 and Group 5 is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust Series 2006-3)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group 2, Group 3 and Group 4 Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 2, Group 3 and Group 4 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, rata based on the aggregate Class Principal Balance of the related Senior Certificates and Certificates, as applicable, of such Groups. Such amount shall be paid to the Senior Certificates (other than any Class P Certificates) in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 2, Group 3 and Group 4 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 2, Group 3 or more of Group 4 Certificates (other than the Groups of Senior Certificates Class A-P Certificates) is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class A-P Certificates)) of each Undercollateralized Group, to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates (other than any Class A-P Certificates) of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group (other than any Class A-P Certificates) equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(II)(A). If more than one of the Groups of Senior Certificates Group 2, Group 3 and Group 4 is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group 2, Group 3 and Group 4 is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSMC Mortgage-Backed Trust 2007-3)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Pass-Through Rate applicable to the Undercollateralized Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Acceptance Corp Mort Back Cert Ser 2003-1)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group 2, Group 3 and Group 4 Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior 2, Group 3 and Group 4 Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, rata based on the aggregate Class Principal Balance of the related Senior Certificates and Certificates, as applicable, of such Groups. Such amount shall be paid to the Senior Certificates (other than any Class P Certificates) in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group 2, Group 3 and Group 4 Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group 2, Group 3 or more of Group 4 Certificates (other than the Groups of Senior Certificates Class D-P Certificates) is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class D-P Certificates)) of each Undercollateralized Group, to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group (other than any Class D-P Certificates) equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(II)(A). If more than one of the Groups of Senior Certificates Group 2, Group 3 and Group 4 is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group 2, Group 3 and Group 4 is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSAB Mortgage-Backed Trust 2007-1)

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Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I, Group II, Group VI and Group VII Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior I, Group II, Group VI or Group VII Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated among the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I, Group II, Group VI and Group VII Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group III, Group IV and Group V Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group III, Group IV or Group V Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of such other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III, Group IV and Group V Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I, Group II, Group VI or more of the Groups of Senior Group VII Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group I, Group II, Group VI and Group VII is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group I, Group II, Group VI and Group VII is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups. (c) If on any Distribution Date the Class Principal Balance of the Group III, Group IV or Group V Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of each Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of Group III, Group IV and Group V is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(c) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of Group III, Group IV and Group V is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2005-5)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group II and Group III Certificates, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior II or Group III Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group II and Group III Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group IV and Group V Certificates, but after the date on which the aggregate Class Principal Balance of either the Group IV or Group V Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group IV and Group V Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group II or more Group III Certificates is greater than the aggregate Stated Principal Balance of the Groups Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) plus, in the case of Loan Group II, the amount, if any, on deposit in the Prefunding Account on such Distribution Date (such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group) plus, in the case of Loan Group II, the amount, if any, on deposit in the Prefunding Account on such Distribution Date. Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). (c) If on any Distribution Date the Class Principal Balance of the Group IV or Group V Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-4)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Senior Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group DC-B Percentage for such Distribution Date is greater than or equal to 200% of the Group DC-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group DC-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each of the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Series 2003-25)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. On each Distribution Date prior to the Credit Support Depletion Date for the Group III and Group IV Certificates, but after the date on which the aggregate Class Principal Balance of either the related Senior Group III or Group IV Certificates and (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the Senior holders of the Certificates in each such of the other Certificate Group in the same priority as such Certificates would receive (other distributions of principal pursuant to Section 4.01(Athan any Class P Certificates); , pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III and Group IV Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Applicable Rate applicable to the Undercollateralized Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). . (c) If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution DateDate the Class Principal Balance of the Group III or Group IV Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (the “Undercollateralized Group”), reductions in then the Trust Administrator shall reduce the Available Distribution Amount of such Groups the other Loan Group (the “Overcollateralized Group”), as follows: (1) to make add to the payments required Available Distribution Amount of the Undercollateralized Group an amount equal to be made pursuant the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Applicable Rate applicable to 4.06(bthe Undercollateralized Group and (b) Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date shall be made pro rata, based on pursuant to Section 4.01; and (2) to the Overcollateralization Amount for each Overcollateralized Group. If more than one Senior Certificates of the Groups Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates is an of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group on any Distribution Date, payments made to equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized GroupsLoan Group).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Cert Series 2003-10)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. On each Distribution Date prior to the Credit Support Depletion Date for the Group III, Group IV, Group V, Group VI, Group VII and Group VIII Certificates, but after the date on which the aggregate Class Principal Balance of any of the related Senior Group III, Group IV, Group V, Group VI, Group VII or Group VIII Certificates and (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the Senior holders of the Certificates in each such Group in of the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(ACertificate Groups (other than any Class P Certificates); , pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III, Group IV, Group V, Group VI, Group VII and Group VIII Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. (b) If on any Distribution Date the Class Principal Balance of the Group I or Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon of such Loan Group and (b) Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). (c) If on any Distribution Date the Class Principal Balance of one or more of the Groups of Senior Group III, Group IV, Group V, Group VI, Group VII or Group VIII Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A). If more than one of the Groups of Senior Group III, Group IV, Group V, Group VI, Group VII or Group VIII Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups groups to make the payments required to be made pursuant to 4.06(b4.06(c) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Group III, Group IV, Group V, Group VI, Group VII or Group VIII Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) Group shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized GroupsGroup(s).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Through Certificates Ser 2003 23)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion Date, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an the “Overcollateralized Group”), as follows: (1i) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Pass-Through Rate applicable to the Undercollateralized Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2ii) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Cert Ser 2002-30)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group VIII Certificates, but after the date on which the aggregate Class Principal Balance of either the Group I or Group VIII Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group VIII Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group II, Group IV, Group V and Group VII Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group of Senior II, Group IV, Group V or Group VII Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group or Groups in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group II, Group IV, Group V and Group VII Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group III and Group VI Certificates, but after the date on which the aggregate Class Principal Balance of either the Group III or Group VI Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates). Such amount shall be paid to the Senior Certificates in such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group B Percentage for such Distribution Date is greater than or equal to 200% of the Group B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III and Group VI Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more Group VIII Certificates is greater than the aggregate Stated Principal Balance of the Groups Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). (c) If on any Distribution Date the Class Principal Balance of the Group II, Group IV, Group V or Group VII Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such each Overcollateralized Group or on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates Group II, Group IV, Group V and Group VII is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b4.06(c) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates Group II, Group IV, Group V and Group VII is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups. (d) If on any Distribution Date the Class Principal Balance of the Group III or Group VI Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage-Backed Pass-Through Certificates, Series 2004-8)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I, Group II, Group III and Group V Certificates, but after the date on which the aggregate Class Principal Balance of any the Group of Senior I, Group II, Group III or Group V Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I, Group II, Group III and Group V Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group C-B Component Balance, is less than 50%. On each Distribution Date prior to the Credit Support Depletion Date for the Group IV, Group VI, Group VII, Group VIII and Group IX Certificates, but after the date on which the aggregate Class Principal Balance of any of the Group IV, Group VI, Group VII, Group VIII or Group IX Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Group(s) (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A); provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group IV, Group VI, Group VII, Group VIII and Group IX Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one or more of the Groups of Senior Group I, Group II, Group III or Group V Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A). If more than one of the Groups of Senior Group I, Group II, Group III or Group V Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Group I, Group II, Group III or Group V Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups. (c) If on any Distribution Date the Class Principal Balance of one or more of the Group IV, Group VI, Group VII, Group VIII or Group IX Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such Undercollateralized Group at the Required Coupon for such Loan Group and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A). If more than one of the Group IV, Group VI, Group VII, Group VIII or Group IX Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(c) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Group IV, Group VI, Group VII, Group VIII or Group IX Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass Thru Cert Ser 2003-27)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group B Percentage for such Distribution Date is greater than or equal to 200% of the Group B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. On each Distribution Date prior to the Credit Support Depletion Date for the Group V and Group VI Certificates, but after the date on which the aggregate Class Principal Balance of either the Group V or Group VI Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group (other than any Class P Certificates), pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group C-B Percentage for such Distribution Date is greater than or equal to 200% of the Group C-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group V and Group VI Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Senior Certificates and paid Group C-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Senior Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. On each such Distribution Date prior to the Credit Support Depletion Date for the Group in III, Group IV and Group VII Certificates, but after the same priority as date on which the aggregate Class Principal Balance of any the Group III, Group IV or Group VII Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates would receive that will have been paid in full, to the holders of the Certificates of the other distributions of principal pursuant to Section 4.01(ACertificate Groups (other than any Class P Certificates); , pro rata, based on Class Principal Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group III, Group IV and Group VII Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. Any amounts so allocated shall be distributed to the Class A Certificates of the related Certificate Group, as principal, in accordance with the priorities set forth in Section 4.01. (b) If on any Distribution Date the Class Principal Balance of the Group I or Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at at 5.50% per annum, if such Undercollateralized Group is Group I, or 5.00% per annum, if such Undercollateralized Group is Group II and (b) Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A). (c) If on any Distribution Date the Class Principal Balance of the Group V or Group VI Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of the other Loan Group (the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of the Undercollateralized Group at 5.50% per annum, if such Undercollateralized Group is Group V, or 5.00% per annum, if such Undercollateralized Group is Group VI and (b) Available Distribution Amount of the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of the Overcollateralized Group remaining after making distributions to the Senior Certificates of the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in the Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(I)(A). (d) If on any Distribution Date the Class Principal Balance of one or more of the Groups of Senior Group III, Group IV or Group VII Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each other Loan Group (each such Loan Group, an “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such Undercollateralized Group at the Required Coupon for 5.50% per annum, if such Loan Undercollateralized Group is Group III or Group IV, or 5.00% per annum, if such Undercollateralized Group is Group VII and (b) the Available Distribution Amount of each Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each Overcollateralized Group remaining after making distributions to the Senior Certificates of such Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A4.01(I)(A). If more than one of the Groups of Senior Group III, Group IV or Group VII Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups groups to make the payments required to be made pursuant to 4.06(b4.06(d) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized GroupsGroup(s). If more than one of the Group III, Group IV or Group VII Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group shall be made pro rata, baed on the amount of payments required to be made to the Undercollateralized Group(s).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Backed Pass THR Certs Ser 2003-17)

Cross-Collateralization; Adjustment to Available Funds. (a) On each Distribution Date prior to the Credit Support Depletion DateDate for the Group I and Group II Certificates, but after the date on which the aggregate Class Principal Balance of any either the Group of Senior I or Group II Certificates (other than the applicable Class P Certificates) has been reduced to zero, the Trust Administrator shall distribute the principal portion of Available Distribution Amount on the Mortgage Loans relating to such Certificates that will have been paid in full, to the holders of the Certificates of the other Certificate Group(s) Group (other than any Class P Certificates). Such amount shall be allocated between the other Groups, pro rata, based on aggregate Class Principal Balance of the related Senior Certificates and paid to the Senior Certificates in each such Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A); Balances, provided, however, that the Trust Administrator shall not make such distribution on such Distribution Date if (a) the Group D-B Percentage for such Distribution Date is greater than or equal to 200% of the Group D-B Percentage as of the Closing Date and (b) the average outstanding principal balance of each of the Group I and Group II Mortgage Loans delinquent 60 days or more (including all related REO Property and Mortgage Loans in foreclosure) over the last six months, as a percentage of the related Group D-B Component Balance, is less than 50%. (b) If on any Distribution Date the Class Principal Balance of one the Group I or more of the Groups of Senior Group II Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (net of the applicable Class P Fraction of each applicable Class P Mortgage Loan) (each such Loan Group, an the “Undercollateralized Group”), then the Trust Administrator shall reduce the Available Distribution Amount of each the other Loan Group (each such Loan Group, an the “Overcollateralized Group”), as follows: (1) to add to the Available Distribution Amount of each the Undercollateralized Group an amount equal to the lesser of (a) one month's interest on the Principal Transfer Amount of such the Undercollateralized Group at the Required Coupon for such Loan Pass-Through Rate applicable to the Undercollateralized Group and (b) the Available Distribution Amount of each the Overcollateralized Group remaining after making distributions of interest to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01; and (2) to the Senior Certificates of each the Undercollateralized Group (other than any Class P Certificates), to the extent of the principal portion of Available Distribution Amount of each the Overcollateralized Group remaining after making distributions to the Senior Certificates of such the Overcollateralized Group on such Distribution Date pursuant to Section 4.01, until the Class Principal Balance of the Senior Certificates (other than the Class P Certificates) of each the Undercollateralized Group equals the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (less the applicable Class P Fraction of each Class P Mortgage Loan in such Loan Group). Payments shall be made to the Senior Certificates in each Undercollateralized Group in the same priority as such Certificates would receive other distributions of principal pursuant to Section 4.01(A). If more than one of the Groups of Senior Certificates is an Overcollateralized Group on any Distribution Date, reductions in the Available Distribution Amount of such Groups to make the payments required to be made pursuant to 4.06(b) on such Distribution Date shall be made pro rata, based on the Overcollateralization Amount for each Overcollateralized Group. If more than one of the Groups of Senior Certificates is an Undercollateralized Group on any Distribution Date, payments made to such Groups from the Overcollateralized Group(s) shall be made pro rata, based on the amount of payments required to be made to the Undercollateralized Groups.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CSFB Mortgage Acceptance Corp Mort Back Cert Ser 2003-1)

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