Common use of Distributions from the Corridor Contract Reserve Fund Clause in Contracts

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior).

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-1t1), Pooling and Servicing Agreement (Alternative Loan Trust 2007-1t1)

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Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the each Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the related Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the applicable Corridor Contract will be withdrawn therefrom and distributed to the related Class of Covered Certificates, Certificates to the extent needed to pay any related Yield Supplement Amount of the Class 1-A-1, Class 2-A-3 and Class 2-A-6 Certificates, as applicable, for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)Underwriter.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-J4)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)Countrywide Securities Corporation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-5t2)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date termination of this Agreement and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Datetermination of this Agreement, will be distributed to the Underwriter (Senior).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-6)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount of the Covered Certificates for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior).Barclays Capital Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-29t1)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the each Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the related Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the applicable Corridor Contract will be withdrawn therefrom and distributed to the related Class of Covered Certificates, Certificates to the extent needed to pay any related Yield Supplement Amount of the Class 1-A-2 and Class 1-A-6 Certificates, as applicable, for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)Underwriter.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-J5)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the latest Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the each Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any related Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-45t1)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the last Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)Banc of America Securities LLC.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-26cb)

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Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates 1-A-1 Certificates, as applicable, is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-1 Corridor Contract will be withdrawn therefrom and distributed to the Covered Class 1-A-1 Certificates, to the extent needed to pay any Yield Supplement Amount of the Class 1-A-1 Certificates, for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund Fund, after the earlier of (i) the date on which the Class Certificate Balance of the Covered Class 1-A-1 Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)Underwriter.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Countrywide Home Loans 2005-J8)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date termination of this Agreement and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-8cb)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered 1-A-3 Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Class 1-A-3 Certificates, to the extent needed to pay any related Yield Supplement Amount of the Class 1-A-3 Certificates for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)UBS Securities LLC.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-4cb)

Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date. (b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior)Banc of America Securities LLC.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-13t1)

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