Common use of Crossover Amounts Clause in Contracts

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 Certificates, the Group 2 Certificates, the Group 3 Certificates or the Group 4 Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class or Classes, the related “Affected Senior Certificates”), then future principal payments otherwise allocable to the Subordinate Certificates shall be “crossed over” or used to repay principal of the Affected Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 2 contracts

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar6), Master Loan Purchase Agreement (GSR Mortgage Loan Trust 2005-Ar5)

AutoNDA by SimpleDocs

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 Certificates, the Group 2 Certificates, the Group 3 Certificates, the Group 4 Certificates or the Group 4 5 Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class or Classes, the related “Affected Senior Certificates”), then future principal payments otherwise allocable to the Track 1 Subordinate Certificates shall be “crossed over” or used to repay principal of the Affected Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Track 1 Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 2 contracts

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2005-Ar7), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar4)

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 Certificates1, the Group 2 Certificates2, the Group 3 Certificates 3, Group 4, Group 5A, Group 5B or the Group 4 6 Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class class or Classesclasses, the related “Affected Senior Certificates”), then future principal payments otherwise allocable to the Subordinate Certificates shall be “crossed over” or used to repay principal of the Affected Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2007-Ar2)

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 Certificates1, the Group 2 Certificates2, the Group 3 Certificates or the and Group 4 Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class class or Classesclasses, the related “Affected Senior Certificates,” and such Loan Group, the “Undercollateralized Loan Group”), then future principal payments otherwise allocable to the Subordinate Certificates shall will be “crossed over” or used to repay principal of the Affected Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 1 contract

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2005-Ar1)

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 I Certificates, the Group 2 II Certificates, the Group 3 III Certificates or the Group 4 IV Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class or Classes, the related "Affected Senior Certificates"), then future principal payments otherwise allocable to the Subordinate Certificates shall be "crossed over" or used to repay principal of the Affected Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 1 contract

Samples: Flow Servicing Agreement (GSAA Home Equity Trust 2006-4)

AutoNDA by SimpleDocs

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 Certificates2, the Group 2 Certificates3, the Group 3 Certificates or the Group 4 or Group 5 Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class class or Classesclasses, the related “Affected Hybrid Group Senior Certificates”), then future principal payments otherwise allocable to the Hybrid Group Subordinate Certificates shall be “crossed over” or used to repay principal of the Affected Hybrid Group Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Hybrid Group Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Hybrid Group Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Hybrid Group Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR 2006-Ar2)

Crossover Amounts. (a) If, on any Distribution Date, the aggregate Class Principal Balance of the Group 1 Certificates, the or Group 2 Certificates, the Group 3 Certificates or the Group 4 Certificates exceeds the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group (such Class class or Classesclasses, the related “Affected Short Reset Group Senior Certificates”), then future principal payments otherwise allocable to the Short Reset Group Subordinate Certificates shall be “crossed over” or used to repay principal of the Affected Short Reset Group Senior Certificates by increasing the Senior Principal Distribution Amount for the Loan Group related to the Affected Short Reset Group Senior Certificates in an amount equal to the lesser of (i) the aggregate amount of principal otherwise payable to the Short Reset Group Subordinate Certificates on such Distribution Date and (ii) the amount required to be paid to the Affected Short Reset Group Senior Certificates so that their aggregate Class Principal Balance is equal to the outstanding aggregate principal balance of the Mortgage Loans in the related Loan Group.

Appears in 1 contract

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2005-Ar3)

Time is Money Join Law Insider Premium to draft better contracts faster.