Common use of Distributions of Interest Funds Clause in Contracts

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order: (i) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date; (ii) concurrently: (A) from Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; and (B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B) any remainder as part of the Excess Cashflow.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc10), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc11), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc10)

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Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following orderorder of priority: (i) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date; (ii) concurrently: (A) from Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; and (B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following orderorder of priority: (A) sequentially, to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3, Class M-4Xxxxx X-0, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B) any remainder as part of the Excess Cashflow.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc7), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc7)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated distributed by the Trustee from the Distribution Account in the following order: (i1) from the Interest Funds for Loan Group 1 concurrently and Loan Group 2, pro rata based on the Interest Funds for amounts owing under each Loan Group, of the following clauses: (a) to the Certificate Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Certificate Swap Contract with respect to such Distribution Date; (iib) concurrently:to the Put Account in an amount up to the Put Amount, the Put Fee for such Distribution Date or any unpaid Put Termination Payment payable to the Put Counterparty; and (Ac) to the Subordinated Certificate Swap Account, any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Subordinated Certificate Swap Contract with respect to such Distribution Date; (2) from Interest Funds for Loan interest collections on the Mortgage Loans in Sub-Group 1X, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such to the Class and such Distribution Date; andX Certificates; (B3) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior LIBOR Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid related Current Interest and Interest Carry Forward Amount, pro rata based on their respective entitlements; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A4) sequentially, to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3, Class M-4, Class M-5, Class M-6Xxxxx X-0, Xxass M-7, Class M-7 M-8, Class M-9, Class M-10, Class M-11 and Class M-8 M-12 Certificates, in that order, the Current Interest for each such Class and such Distribution DateClass; and (B5) any remainder as part of the Excess Cashflow.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy9), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy9)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following orderpriority, until such Interest Funds have been fully distributed: (i) from the Interest Funds for both Loan Group 1 and Loan Group 2Groups, pro rata based on the Interest Funds for each Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date; (ii) concurrently:, (A) from Interest Funds for Loan Group 1, concurrently, to the each Class 1-A of Group 1 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; and (B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(Aii)(a) or (a)(ii)(Bii)(b) above, pro rata, based on their respective the amount of interest each such Class Certificate Balancesis entitled to receive on that Distribution Date, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective the amount of interest each such Class Certificate Balancesis entitled to receive on that Distribution Date, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate BalancesAmount, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both remaining undistributed for each Loan Groups Group after distribution pursuant to clauses (i), (ii) and (iii) above in the following order: (A) priority first, sequentially, to the Class X-0M-1, Class M-2, Class M-3, Xxxxx X-0, Class M-3, Class M-4, Class Xxxss M-5, Class M-6, M-6 and Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such that Distribution Date; and (B) any remainder and second, for application as part of the Excess CashflowCashflow for that Distribution Date, pursuant to Section 4.02(c) below, any such Interest Funds remaining undistributed for that Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2006-Ar35)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated distributed by the Trustee from the Distribution Account in the following order: (i1) from the Interest Funds for Loan Group 1 concurrently and Loan Group 2, pro rata based on the Interest Funds for amounts owing under each Loan Group, of the following clauses: (a) to the Certificate Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Certificate Swap Contract with respect to such Distribution Date; (iib) concurrently: (A) from Interest Funds for Loan Group 1, to the Class 1-A CertificatesA-1 Swap Account, the Class A-1 Swap Fee payable to the Swap Counterparty with respect to such Distribution Date; and (c) to the Subordinated Certificate Swap Account, any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Subordinated Certificate Swap Contract with respect to such Distribution Date; (2) from interest collections on the Mortgage Loans in Sub-Group X, Current Interest and Interest Carry Forward Amount for such to the Class and such Distribution Date; andX Certificates; (B3) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior LIBOR Certificates, the related Current Interest and Interest Carry Forward Amount, pro rata based on their respective entitlements; provided, however, that for so long as the Class A-1 Swap Contract has not been terminated, any amounts of Current Interest and Interest Carry Forward Amount for each such that would be distributed to the Class and such Distribution DateA-1 Certificates in the absence of the Class A-1 Swap Contract will instead be distributed to the Class A-1 Swap Account and, pro rataprovided further, based on if a Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) is due to the amount Swap Counterparty with respect to the Class A-1 Swap Contract, then any amounts of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will would be distributed to each the Class A-1 Certificates in the absence of Senior Certificates with respect such Swap Termination Payment will instead be distributed, up to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward AmountSwap Termination Payment, to the Class A-1 Swap Account; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A4) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 M-7, Class M-8 and Class M-8 Certificates, M-9 Certificates in that order, the Current Interest for each such Class and such Distribution DateClass; and (B5) any remainder as part of the Excess Cashflow.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy8c)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated distributed by the Trustee from the Distribution Account in the following order: (i1) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Certificate Swap Account, the amount of any Net Certificate Swap Payment and any Certificate Swap Termination Payment (other than a Certificate Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Certificate Swap Counterparty under the Swap Contract with respect to such for that Distribution Date; (ii2) concurrentlyconcurrently and on a pro rata basis based on their respective entitlements, as follows: (Aa) from Interest Funds for Loan Group 1prior to the termination of the NDI Swap Contracts, concurrently, to each NDI Swap Account, pro rata based on entitlement, the Class 1-A amount of the NDI Swap Fee payable to the NDI Swap Counterparty under the related NDI Swap Contract for that Distribution Date; (b) concurrently, to each class of Senior Certificates, the respective Current Interest and Interest Carry Forward Amounts for that Distribution Date, provided, however, that, prior to the termination of an NDI Swap Contract, any amounts of Current Interest and Interest Carry Forward Amounts that would be distributed to the related Class of NDI Swap Certificates in the absence of that NDI Swap Contract will instead be distributed to the related NDI Swap Account and, provided further, that if an NDI Swap Termination Payment (other than an NDI Swap Termination Payment due to an NDI Swap Counterparty Trigger Event) is due to the NDI Swap Counterparty, then any amounts of Current Interest and Interest Carry Forward Amount for that would be distributed to the related Class of NDI Swap Certificates in the absence of such Class and NDI Swap Termination Payment will instead be distributed, up to the amount of such Distribution DateNDI Swap Termination Payment, to the related NDI Swap Account; and (Bc) from Interest Funds for Loan Group 2prior to the termination of the NDI Swap Contracts, concurrently, to each NDI Swap Account, pro rata based on entitlement, interest on the related NDI Swap Principal Amount at the Pass-Through Rate for the related Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount NDI Swap Certificates for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii3) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount[Reserved]; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A4) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B5) any remainder as part of the Excess Cashflow.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oh2)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following orderorder of priority, until such Interest Funds have been fully distributed: (i) from the Interest Funds for Remittance Amount related to each Loan Group 1 and Loan Group 2Group, pro rata based on the Interest Funds Remittance Amount for each that Loan Group, in the following priority: first, to the Swap AccountCertificate Insurer, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment monthly premium due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract Policy with respect to such Distribution Datethe Class 1-A-1B Certificates, in the case of the Interest Remittance Amount for Loan Group 1, and the Class 2-A-1C Certificates, in the case of the Interest Remittance Amount for Loan Group 2; (ii) concurrently: (A) from Interest Funds for Loan Group 1, in the following priority: (i) concurrently, to the each Class 1-A of Group 1 Senior Certificates, the related Current Interest and Interest Carry Forward Amount; provided, however, that if funds available are insufficient to pay that amount, any resulting shortfalls will be allocated pro rata on the basis of the Current Interest and Interest Carry Forward Amount for Amounts due such Class and such Classes on that Distribution Date; and (ii) to the Certificate Insurer, any unreimbursed Insured Payments with respect to the Class 1-A-1B Certificates, plus any other amounts due to the Certificate Insurer; and (B) from Interest Funds for Loan Group 2, in the following priority: (i) concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each Amount; provided, however, that if funds available are insufficient to pay such Class and such Distribution Dateamount, any resulting shortfalls will be allocated pro rata, based rata on the amount basis of interest each the Current Interest and Interest Carry Forward Amounts due such Class is entitled to receive Classes on that Distribution Date; (iiiii) from to the Certificate Insurer, any unreimbursed Insured Payments with respect to the Class 2-A-1C Certificates, plus any other amounts due to the Certificate Insurer; and (ii) the Interest Remittance Amount for each Loan Group remaining Interest Funds for both Loan Groups after distribution pursuant to each clause (1) above will be aggregated and distributed in the following priority: first, to the Certificate Insurer, the monthly premium due under the Policy with respect to the Class 1-A-1B and Class 2-A-1C Certificates to the extent not paid pursuant to clause (i) above; second, concurrently to the Classes of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses clause (a)(ii)(A) or (a)(ii)(B) abovei), pro rata, rata based on their respective the amount of interest each Class Certificate Balancesof Senior Certificates is entitled to receive on that Distribution Date; third, to the Certificate Insurer, any unreimbursed Insured Payments with respect to the Class 1-A-1B and Class 2-A-1C Certificates, plus any other amounts due to the Certificate Insurer to the extent needed not paid above; fourth, sequentially, to pay any the Class M-1, Class M-2, Class M-3, Class X-0, Xxxxx X-0, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, the Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balancesfifth, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B) any remainder application as part of the Excess CashflowCashflow for that Distribution Date, pursuant to Section 4.02(c) below, any such Interest Remittance Amount remaining undistributed for that Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2006-Ar6)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order: (i) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date; (ii) concurrently: (A) from Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; and (B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A) sequentially, to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B) any remainder as part of the Excess Cashflow.

Appears in 1 contract

Samples: Pooling and Servicing Agreement

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Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated distributed by the Trustee from the Distribution Account in the following order: (i1) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Certificate Swap Account, the amount of any Net Certificate Swap Payment and any Certificate Swap Termination Payment (other than a Certificate Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Certificate Swap Counterparty under the Swap Contract with respect to such for that Distribution Date; (ii2) concurrentlyconcurrently and on a pro rata basis based on their respective entitlements, as follows: (Aa) from Interest Funds for Loan Group 1prior to the termination of the Class A-1-B Swap Contract, to the Class 1A-1-A B Swap Account, the amount of the Class A-1-B Swap Fee payable to the Class A-1-B Swap Counterparty for that Distribution Date; (b) concurrently, to each Class of Senior Certificates, the respective Current Interest and Interest Carry Forward Amounts for that Distribution Date, provided, however, that prior to the termination of the Class A-1-B Swap Contract, any amounts of Current Interest and Interest Carry Forward Amounts that would be distributed to the Class A-1-B Certificates in the absence of the Class A-1-B Swap Contract will instead be distributed to the Class A-1-B Swap Account and, provided further, if a Class A-1-B Swap Termination Payment (other than a Class A-1-B Swap Termination Payment due to a Class A-1-B Swap Counterparty Trigger Event) is due to the Class A-1-B Swap Counterparty, then any amounts of Current Interest and Interest Carry Forward Amount for that would be distributed to the Class A-1-B Certificates in the absence of such Class and such Distribution Date; and (B) from Interest Funds for Loan Group 2A-1-B Swap Termination Payment will instead be distributed, concurrently, up to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled A-1-B Swap Termination Payment, to receive the Class A-1-B Swap Account; and; (c) prior to the termination of the Class A-1-B Swap Contract, to the Class A-1-B Swap Account, current interest and interest carry forward amounts on the Class A-1-B Swap Principal Amount at the Pass-Through Rate for the Class A-1-B Certificates for that Distribution Date; (iii3) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount;[Reserved] (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A4) sequentially, to the Class X-0M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, M-6 and Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B5) any remainder as part of the Excess Cashflow.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oh3)

Distributions of Interest Funds. On each Distribution Date (or in the case of payments to the Swap Counterparty, the Business Day prior to each Distribution Date), the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following orderorder of priority, until such Interest Funds have been fully distributed: (i) from the Interest Funds for Remittance Amount related to each Loan Group 1 and Loan Group 2Group, pro rata based on the Interest Funds Remittance Amount for each that Loan Group, in the following priority: first, to the Swap Account, the product of (x) the related Swap Allocation Percentage for that Distribution Date and (y) the amount of any Net Swap Payment and any Swap Termination Payment payable to the Swap Counterparty with respect to that Distribution Date (including amounts remaining unpaid from previous Distribution Dates); second, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such that Distribution Date; (ii) concurrently: Date not paid previously or from the Interest Remittance Amount from the other Loan Group; third, to the Certificate Insurer, the monthly premium due under the Policy with respect to the Class 1-A-3B Certificates, in the case of the Interest Remittance Amount for Loan Group 1, and the Class 2-A-2 Certificates, in the case of the Interest Remittance Amount for Loan Group 2; fourth, (A) from Interest Funds for Loan Group 1, to in the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; andfollowing priority: (Bi) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 1 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class of those Classes and such that Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups ; provided, however, that if funds available are insufficient to each Class of Senior Certificatespay that amount, any remaining resulting shortfalls will be allocated pro rata on the basis of Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based Amounts due such Classes on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following order: (A) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (Bii) to the Certificate Insurer, any remainder as part of unreimbursed Insured Payments with respect to the Excess Cashflow.Class 1-A-3B Certificates, plus any other amounts due to the Certificate Insurer to the extent not paid above; and

Appears in 1 contract

Samples: Pooling and Servicing Agreement (IndyMac INDX Mortgage Loan Trust 2006-Ar2)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following orderorder of priority: (i) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each such Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date; (ii) concurrently: (A) from Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; and (B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Datetheir respective entitlements; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following orderorder of priority: (A) sequentially, to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3, Class M-4Xxxxx X-4, Class M-5, Class M-6, Class M-7 M-7, Class M-8, Class M-9 and Class M-8 B Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B) any remainder as part of the Excess Cashflow.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc4)

Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following orderorder of priority: (i) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date; (ii) concurrently: (A) from Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; and (B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date; (iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount; (iv) from the remaining Interest Funds from both Loan Groups in the following orderorder of priority: (A) sequentially, to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3, Class M-4Xxxxx X-4, Class M-5, Class M-6, Class M-7 M-7, Class M-8 and Class M-8 M-9 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and (B) any remainder as part of the Excess Cashflow.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc6)

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