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

Cross-Collateralization; Adjustments to Available Funds. (a) On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after a Senior Termination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans or portions thereof in the Collateral Allocation Group related to the Senior Certificates that will have been paid in full, to the holders of the Senior Certificates of the other Senior Certificate Groups, pro rata, based on their Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average Stated Principal Balance of the Mortgage Loans or portions thereof in each Collateral Allocation Group delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (IndyMac IMSC Mortgage Loan Trust 2007-F3), Pooling and Servicing Agreement (IndyMac IMJA Mortgage Loan Trust 2007-A2)

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Cross-Collateralization; Adjustments to Available Funds. (a) On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second fifth Senior Termination Date, but after a Senior Termination DateDate for a Senior Certificate Group, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans or portions thereof in the Collateral Allocation relating to that Senior Certificate Group related to the Senior Certificates that will have been paid in full, full to the holders of the Senior Certificates of the other Senior Certificate Groups, pro rata, based on their Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such the Subordinated Certificates for that Distribution Date is greater than or equal to 200% of such the Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans or portions thereof in each Collateral Allocation Group delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Cross-Collateralization; Adjustments to Available Funds. (a) On With respect to the Combined Certificates, on each Distribution Date after the first Senior Termination Date but prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after a Senior Termination Date, the Trustee Securities Administrator shall distribute the principal portion of Available Funds on the Combined Mortgage Loans or portions thereof in the Collateral Allocation Group related relating to the Combined Senior Certificates that will have been paid in full, full to the holders of the Combined Senior Certificates of the other Senior Combined Certificate Groups, pro rata, based on their Class Certificate Principal Balances, provided, however, that the Trustee Securities Administrator shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Combined Mortgage Loans or portions thereof in each Collateral Allocation Group delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Principal Balance of the Combined Subordinated Certificates, is less than 50%.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MSM 2005-5ar)

Cross-Collateralization; Adjustments to Available Funds. (a) On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second fourth Senior Termination Date, but after a Senior Termination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to such Class or portions thereof in the Collateral Allocation Group related to the Classes of Senior Certificates that will have been paid in full, to the holders of the Classes of Senior Certificates of the other Senior Certificate Groups, pro rata, based on their Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average Stated Principal Balance of the Mortgage Loans or portions thereof in each Collateral Allocation Loan Group delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2005-Ar31)

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Cross-Collateralization; Adjustments to Available Funds. (a) On With respect to the Combined Certificates, on each Distribution Date after the first Senior Termination Date but prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after a fourth Senior Termination Date, the Trustee Securities Administrator shall distribute the principal portion of Available Funds on the Combined Mortgage Loans or portions thereof in the Collateral Allocation Group related relating to the Combined Senior Certificates that will have been paid in full, full to the holders of the Combined Senior Certificates of the other Senior Combined Certificate Groups, pro rata, based on their Class Certificate Principal Balances, provided, however, that the Trustee Securities Administrator shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Combined Mortgage Loans or portions thereof in each Collateral Allocation Group delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Principal Balance of the Combined Subordinated Certificates, is less than 50%.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2005-6ar)

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