Distributions on the REMIC I Regular Interests. Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular Interests, in each case from the related Loan Group, first, to REMIC I Regular Interest LT-IA1, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balance.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc), Pooling and Servicing Agreement (Deutsche Mortgage Securities Inc), Pooling and Servicing Agreement (Deutsche Alt-a Securities, Inc. Mortgage Loan Trust, Series 2005-6)
Distributions on the REMIC I Regular Interests. (1) (A) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, (a) to Holders of REMIC I Regular Interest LT-AA, REMIC Regular Interest LT-11 REMIC Regular Interest LT-2A, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC 1 Regular Interest LT-M8, REMIC Regular Interest LT-B, REMIC I Regular Interest LT-ZZ, REMIC I Regular Interest LT-P and REMIC I Regular Interest LT-R, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be payable to the Holders of REMIC Regular Interest LT-1A, REMIC Regular Interest LT-2A, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC 1 Regular Interest LT-M8 and REMIC Regular Interest LT-B in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC I Regular Interest LT-ZZ shall be increased by such amount; and
(b) to Holders of REMIC I Regular Interest LT-1SUB, REMIC I Regular Interest LT-1GRP, REMIC I Regular Interest LT-2SUB, REMIC I Regular Interest LT-2GRP and REMIC I Regular Interest LT-XX, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates
(i) second, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Marker Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) 98.00% of such remainder (other than amounts payable under clause (c) below), to the Holders of REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, until the Uncertificated Principal Balance of such REMIC I Regular 105 Interest is reduced to zero, provided, however, that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause;
(b) 2.00% of such remainder first, to the Holders of REMIC I Regular Interest LT-1A, REMIC I Regular Interest LT-2A, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC I Regular Interest LT-M3, REMIC I Regular Interest LT-M4, REMIC I Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC 1 Regular Interest LT-M8 and REMIC Regular Interest LT-B, 1.00% in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to zero and second, to the Holders of REMIC I Regular Interest LT-ZZ, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero; then
(c) any remaining amount to the Holders of the Class AR Certificates (in respect of the Class R-I Interest); and provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of (i) REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, in that order and (ii) REMIC I Regular Interest LT-ZZ, respectively; provided that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause. On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period will be distributed by REMIC I to the Holders of REMIC I Regular Interest LT-P. The payment of the foregoing amounts to the Holders of REMIC I Regular Interest LT-P shall not reduce the Uncertificated Principal Balance thereof.
(ii) third, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Sub WAC Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular InterestsInterests first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in each case from the related Loan Group; second, firstto each REMIC I Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in the related Group over (y) the Certificate Principal Balance of the Class A Certificate in the related Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining principal to REMIC I Regular Interest LT-IA1XX.
(b) Notwithstanding the distributions described in this Section 4.09, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest distribution of funds shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balancemade only in accordance with Section 4.04.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-Bc3), Pooling and Servicing Agreement (CWABS Asset Backed Certificates Trust 2004-Bc3)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class R-I Interest, as the case may be:
(i) to Holders of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2 and REMIC I Regular Interest I-LTZZ, pro rata, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be deemed reduced when the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I-LTZZ Uncertificated Interest Deferral Amount and such amount will be payable to be made REMIC I Regular Interest I-LTA1A, REMIC I Regular Interest I-LTA1B, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1 and REMIC I Regular Interest I-LTB2 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Balance of REMIC I Regular Interest I-LTZZ shall be increased by such amount; to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder to the Holders of REMIC I Regular Interest I-LTAA, until the Uncertificated Balance of such Uncertificated REMIC I Regular Interest is reduced to zero;
(B) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTI-IA1LTA1A, REMIC I Regular Interest LTI-IA3LTA1B, REMIC I Regular Interest LTI-IA4LTA2, REMIC I Regular Interest LTI-IA5LTA3, REMIC I Regular Interest LTI-IA7LTM1, REMIC I Regular Interest LTI-IA8LTM2, REMIC I Regular Interest LTI-IAPOLTM3, REMIC I Regular Interest LTI-IIA1LTM4, REMIC I Regular Interest LTI-IIA2LTM5, REMIC I Regular Interest LTI-IIA3LTM6, REMIC I Regular Interest LTI-IIA4LTM7, REMIC I Regular Interest LTI-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTB1 and REMIC I Regular Interest LTI-B5 LTB2, 1% of and in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Balances of such REMIC I Regular Interests are reduced to each zero and second to the Holders of REMIC I Regular Interest at I-LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest is reduced to zero; then
(C) any remaining amount to the Holders of the Class R-I Interest’s Uncertificated Principal Balance; provided, however, that 98.00% and 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ, respectively.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S2)
Distributions on the REMIC I Regular Interests. Distributions (a) On each Distribution Date, the Trustee shall cause in the following order of principal priority, the following amounts to be distributed by REMIC I to REMIC II on account of the Mortgage Loans or withdrawn from the Loans Distribution Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:
(i) first, to Holders of REMIC I Regular Interest LTAA, REMIC I Regular Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC I Regular Interest LTM9, REMIC I Regular Interest LTM10, REMIC I Regular Interest LTM11, REMIC I Regular Interest LTM12, REMIC I Regular Interest LTM13 and REMIC I Regular Interest LTZZ, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LTZZ shall be deemed to reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum LTZZ Uncertificated Interest Deferral Amount and such amount shall be made payable to the Holders of REMIC I Regular Interest LTA1, REMIC I Regular Interest LTA2, REMIC I Regular Interest LTA3, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTM7, REMIC I Regular Interest LTM8, REMIC I Regular Interest LTM9, REMIC I Regular Interest LTM10, REMIC I Regular Interest LTM11, REMIC I Regular Interest LTM12 and REMIC I Regular Interest LTM13 in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC I Regular Interest LTZZ shall be increased by such amount;
(ii) to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount for such Distribution Date after the distributions made pursuant to clause (i) above, firstallocated as follows:
(a) 98.00% of such remainder, to the Holders of REMIC I Regular Interest LTAA and REMIC I Regular Interest LTP, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that REMIC I Regular Interest LTP shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-IA1LT2P, until $100 has been distributed pursuant to this clause;
(b) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTA1, REMIC I Regular Interest LT-IA3LTA2, REMIC I Regular Interest LT-IA4LTA3, REMIC I Regular Interest LT-IA5LTM1, REMIC I Regular Interest LT-IA7LTM2, REMIC I Regular Interest LT-IA8LTM3, REMIC I Regular Interest LT-IAPOLTM4, REMIC I Regular Interest LT-IIA1LTM5, REMIC I Regular Interest LT-IIA2LTM6, REMIC I Regular Interest LT-IIA3LTM7, REMIC I Regular Interest LT-IIA4LTM8, REMIC I Regular Interest LT-IIAPOLTM9, REMIC I Regular Interest LT-P1LTM10, REMIC I Regular Interest LT-P2, LTM11 REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTM12 and REMIC I Regular Interest LT-B5 LTM13, 1.00% of and, in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to each zero and second, to the Holders of REMIC I Regular Interest at LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest is reduced to zero; and
(c) any remaining amount to the Holders of the Class R Certificates (in respect of the Class R-I Interest’s ); provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of (i) REMIC I Regular Interest LTAA and REMIC I Regular Interest LTP, in that order and (ii) REMIC I Regular Interest LTZZ, respectively; provided that REMIC II Regular Interest LTP shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LTP, until $100 has been distributed pursuant to this clause; and
(iii) Notwithstanding the distributions described in this Section 5.05, distribution of funds shall be made only in accordance with Section 5.01. On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period will be distributed by REMIC I to REMIC II in respect of REMIC I Regular Interest LTAA. The payment of the foregoing Prepayment Charge amounts to REMIC II in respect of the REMIC I Regular Interest LTAA shall not reduce the Uncertificated Principal BalanceBalance of REMIC I Regular Interest LTAA.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SG Mortgage Securities Trust 2005-Opt1)
Distributions on the REMIC I Regular Interests. Distributions (1) (A) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, (a) to Holders of REMIC I Regular Interest LT-AA, REMIC Regular Interest LT-A1, REMIC Regular Interest LT-2A1, REMIC Regular Interest LT-2A2, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC Regular Interest LT-M6, REMIC Regular Interest LT-B, REMIC I Regular Interest LT-ZZ, REMIC I Regular Interest LT-P and REMIC I Regular Interest LT-R, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be deemed to reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be made payable to the Holders of REMIC Regular Xxxxxxxx XX-X0, REMIC Regular Interest LT-2A1, REMIC Regular Interest LT-2A2, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC Regular Interest LT-M6 and REMIC Regular Interest LT-B in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates; and
(b) to Holders of REMIC I Regular Interest LT-1SUB, REMIC I Regular Interest LT-1GRP, REMIC I Regular Interest LT-2SUB, REMIC I Regular Interest LT-2GRP and REMIC I Regular Interest LT-XX, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates
(i) second, to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the REMIC I Marker Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, firstallocated as follows: 108
(ii) (a) to the Holders of REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, 98.00% of such remainder (other than amounts payable under clause (d) below), until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-IA1P, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made until $100 has been distributed pursuant to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balance.this clause;
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certs Ser 2003-Bc4)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates, as the case may be:
(i) first, to the Holders of REMIC I Regular Interest LTAA, REMIC I Regular Interest LTA1A, REMIC I Regular Interest LTA1B, REMIC I Regular Interest LTA2A, REMIC I Regular Interest LTA2B, REMIC I Regular Interest LTA2C, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTB1, REMIC I Regular Interest LTB2 and REMIC I Regular Interest LTZZ, on a pro rata basis, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest LTZZ shall be reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum LTZZ Uncertificated Interest Deferral Amount and such amount shall be payable to the Holders of REMIC I Regular Interest LTA1A, REMIC I Regular Interest LTA1B, REMIC I Regular Interest LTA2A, REMIC I Regular Interest LTA2B, REMIC I Regular Interest LTA2C, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTB1 and REMIC I Regular Interest LTB2 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of the REMIC I Regular Interest LTZZ shall be increased by such amount;
(ii) to the Holders of REMIC I Regular Interest LT1SUB, REMIC I Regular Interest LT1GRP, REMIC I Regular Interest LT2SUB, REMIC I Regular Interest LT2GRP and REMIC I Regular Interest LTXX, on a pro rata basis, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates;
(iii) to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Marker Allocation Percentage of the Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) 98.00% of such remainder (other than amounts payable under clause (c) below) to the Holders of REMIC I Regular Interest LTAA until the Uncertificated Balance of such REMIC I Regular Interest is reduced to zero;
(b) 2.00% of such remainder (other than amounts payable under clause (c) below) first, to the Holders of REMIC I Regular Interest LTA1A, REMIC I Regular Interest LTA1B, REMIC I Regular Interest LTA2A, REMIC I Regular Interest LTA2B, REMIC I Regular Interest LTA2C, REMIC I Regular Interest LTM1, REMIC I Regular Interest LTM2, REMIC I Regular Interest LTM3, REMIC I Regular Interest LTM4, REMIC I Regular Interest LTM5, REMIC I Regular Interest LTM6, REMIC I Regular Interest LTB1 and REMIC I Regular Interest LTB2, 1.00% in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Balances of such REMIC I Regular Interests are reduced to zero and second, to the Holders of REMIC I Regular Interest LTZZ, (other than amounts payable under clause (c) below), until the Uncertificated Balance of such REMIC I Regular Interest is reduced to zero; and
(c) any remaining amount to the Holders of the Class R Certificates (in respect of the Class R-I Interest); provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to the Holders of (i) REMIC I Regular Interest LTAA and (ii) REMIC I Regular Interest LTZZ, respectively; and
(iv) to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Sub WAC Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, such that distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular InterestsInterests first, so as to keep the Uncertificated Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in each case from the related Loan Group; second, first, to REMIC I Regular Interest LT-IA1, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at ending with the related designation "SUB," so that the Uncertificated REMIC I Pass-Through Rate on Balance of each such REMIC I Regular Interest’s Uncertificated Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal BalanceBalance of the Mortgage Loans in the related Loan Group over (y) the current Certificate Balance of the Class A Certificate in the related Loan Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining principal to REMIC I Regular Interest LTXX. Notwithstanding the priorities and amounts of distribution of funds pursuant to this Section 4.06, actual distributions of the Available Funds shall be made only in accordance with Section 4.02.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gsamp Trust 2005-Wmc2)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class R-I Interest, as the case may be:
(i) to Holders of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2 and REMIC I Regular Interest I-LTZZ, pro rata, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be deemed reduced when the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I-LTZZ Uncertificated Interest Deferral Amount and such amount will be payable to be made REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1 and REMIC I Regular Interest I-LTB2 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Balance of REMIC I Regular Interest I-LTZZ shall be increased by such amount; to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder to the Holders of REMIC I Regular Interest I-LTAA, until the Uncertificated Balance of such Uncertificated REMIC I Regular Interest is reduced to zero;
(B) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTI-IA1LTA1, REMIC I Regular Interest LTI-IA3LTA2, REMIC I Regular Interest LTI-IA4LTM1, REMIC I Regular Interest LTI-IA5LTM2, REMIC I Regular Interest LTI-IA7LTM3, REMIC I Regular Interest LTI-IA8LTM4, REMIC I Regular Interest LTI-IAPOLTM5, REMIC I Regular Interest LTI-IIA1LTM6, REMIC I Regular Interest LTI-IIA2LTM7, REMIC I Regular Interest LTI-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTB1 and REMIC I Regular Interest LTI-B5 LTB2, 1% of and in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Balances of such REMIC I Regular Interests are reduced to each zero and second to the Holders of REMIC I Regular Interest at I-LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest is reduced to zero; then
(C) any remaining amount to the Holders of the Class R-I Interest’s Uncertificated Principal Balance; provided, however, that 98.00% and 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ, respectively.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S5)
Distributions on the REMIC I Regular Interests. (1) (A) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be: 110
(i) first, (a) to Holders of REMIC I Regular Interest LT-AA, REMIC Regular Interest LT-1A1, REMIC I Regular Interest LT-1A2, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-2A2, REMIC I Regular Interest LT-2A3, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC Regular Interest LT-B, REMIC I Regular Interest LT-ZZ, REMIC I Regular Interest LT-P and REMIC I Regular Interest LT-R, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be payable to the Holders of REMIC Regular Interest LT-1A1, REMIC I Regular Interest LT-1A2, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-2A2, REMIC Regular Interest LT-2A3, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7 and REMIC Regular Interest LT-B in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC I Regular Interest LT-ZZ shall be increased by such amount; and
(b) to Holders of REMIC I Regular Interest LT-1SUB, REMIC I Regular Interest LT-1GRP, REMIC I Regular Interest LT-2SUB, REMIC I Regular Interest LT-2GRP and REMIC I Regular Interest LT-XX, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates
(i) second, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Marker Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) 98.00% of such remainder (other than amounts payable under clause (c) below), to the Holders of REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause;
(b) 2.00% of such remainder first, to the Holders of REMIC I Regular Interest LT-1A1, REMIC I Regular Interest LT-1A2, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-2A2, REMIC I Regular Interest LT-2A, REMIC I Regular Interest 111 LT-M1, REMIC I Regular Interest LT-M2, REMIC I Regular Interest LT-M3, REMIC I Regular Interest LT-M4, REMIC I Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, and REMIC Regular Interest LT-B, 1.00% in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to zero and second, to the Holders of REMIC I Regular Interest LT-ZZ, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero; then
(c) any remaining amount to the Holders of the Class AR Certificates (in respect of the Class R-I Interest); and provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of (i) REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, in that order and (ii) REMIC I Regular Interest LT-ZZ, respectively; provided that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause. On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period will be distributed by REMIC I to the Holders of REMIC I Regular Interest LT-P. The payment of the foregoing amounts to the Holders of REMIC I Regular Interest LT-P shall not reduce the Uncertificated Principal Balance thereof.
(ii) third, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Sub WAC Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular InterestsInterests first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in each case from the related Loan Group; second, firstto each REMIC I Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in the related Group over (y) the Certificate Principal Balance of the Class A Certificate in the related Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining principal to REMIC I Regular Interest LT-IA1XX.
(b) Notwithstanding the distributions described in this Section 4.09, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest distribution of funds shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balance.made only in accordance with Section 4.04. 112
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2004-Ec1)
Distributions on the REMIC I Regular Interests. Distributions (a) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class A-R Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, to Holders of REMIC I Regular Interest MT-AA, REMIC I Regular Interest MT-A-1, REMIC I Regular Interest MT-A-2, REMIC I Regular Interest MT-A-3, REMIC I Regular Interest MT-A-3M, REMIC I Regular Interest MT-A-4, REMIC I Regular Interest MT-M-1, REMIC I Regular Interest MT-M-2, REMIC I Regular Interest MT-M-3, REMIC I Regular Interest MT-M-4, REMIC I Regular Interest MT-M-4, REMIC I Regular Interest MT-M-5, REMIC I Regular Interest MT-M-6, REMIC I Regular Interest MT-M-7, REMIC Regular Interest MT-B and REMIC I Regular Interest MT-ZZ, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for each such REMIC I Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest MT-ZZ shall be deemed to reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Target Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest MT-ZZ Maximum Interest Deferral Amount and such amount will be made payable to the Holders of REMIC I Regular Interest MT-A-1, REMIC I Regular Interest MT-A-2, REMIC I Regular Interest MT-A-3, REMIC I Regular Interest MT-A-3M, REMIC I Regular Interest MT-A-4, REMIC I Regular Interest MT-M-1, REMIC I Regular Interest MT-M-2, REMIC I Regular Interest MT-M-3, REMIC I Regular Interest MT-M-4, REMIC I Regular Interest, MT-M-5, REMIC I Regular Interest, MT-M-6 and REMIC I Regular Interest MT-M-7 in the same proportion as the Overcollateralization Deficiency Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC II Regular Interest MT-ZZ shall be increased by such amount;
(ii) second, to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder (other than amounts payable under clause (C) below) to the Holders of REMIC I Regular Interest MT-AA and REMIC I Regular Interest MT-P, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that the Uncertificated Principal Balance of REMIC I Regular Interest MT-P shall not be reduced until the Distribution Date in July 2010 or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest MT-P, until $100 has been distributed pursuant to this clause;
(B) 2.00% of such remainder (other than amounts payable under clause (C) below, first, to the Holders of REMIC I Regular Interest MT-A-1, REMIC I Regular Interest MT-A-2, REMIC I Regular Interest MT-A-3, REMIC I Regular Interest MT-A-3M, REMIC I Regular Interest MT-4, REMIC I Regular Interest MT-M-1, REMIC I Regular Interest MT-M-2, REMIC I Regular Interest MT-M-3, REMIC I Regular Interest MT-M-4, REMIC I Regular Interest MT-M-5, REMIC I Regular Interest MT-M-6, REMIC I Regular Interest MT-M-7, and REMIC I Regular Interest MT-B, 1.00%, in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to zero and second, to the Holders of REMIC I Regular Interest MT-ZZ until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero; then
(C) any remaining amount to the Holders of the Class A-R Certificates (in respect of the Class R-I Interest); and
(iii) third, to REMIC I Regular Interest LTMT-IA1P, 100% of all amounts representing Prepayment Charges in respect on the Mortgage Loans; provided that the Uncertificated Principal Balance of REMIC I Regular Interest LTMT-IA3P shall not be reduced until the Distribution Date in July 2010, at which point such amount shall be distributed to REMIC I II Regular Interest LTMT-IA4P, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made until $100 has been distributed pursuant to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balancethis clause.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Asset-Backed Certificates Trust 2005-Im3)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class R-I Interest, as the case may be:
(i) to Holders of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2 and REMIC I Regular Interest I-LTZZ, pro rata, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be deemed reduced when the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I-LTZZ Uncertificated Interest Deferral Amount and such amount will be payable to be made REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1 and REMIC I Regular Interest I-LTB2 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Balance of REMIC I Regular Interest I-LTZZ shall be increased by such amount; to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder to the Holders of REMIC I Regular Interest I-LTAA, until the Uncertificated Balance of such Uncertificated REMIC I Regular Interest is reduced to zero;
(B) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTI-IA1LTA1, REMIC I Regular Interest LTI-IA3LTA2, REMIC I Regular Interest LTI-IA4LTA3, REMIC I Regular Interest LTI-IA5LTM1, REMIC I Regular Interest LTI-IA7LTM2, REMIC I Regular Interest LTI-IA8LTM3, REMIC I Regular Interest LTI-IAPOLTM4, REMIC I Regular Interest LTI-IIA1LTM5, REMIC I Regular Interest LTI-IIA2LTM6, REMIC I Regular Interest LTI-IIA3LTM7, REMIC I Regular Interest LTI-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTB1 and REMIC I Regular Interest LTI-B5 LTB2, 1% of and in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Balances of such REMIC I Regular Interests are reduced to each zero and second to the Holders of REMIC I Regular Interest at I-LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest is reduced to zero; then
(C) any remaining amount to the Holders of the Class R-I Interest’s Uncertificated Principal Balance; provided, however, that 98.00% and 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ, respectively.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S3)
Distributions on the REMIC I Regular Interests. Distributions (a) (1)(A) On each Distribution Date, the following amounts, in the following order of principal from the Loans priority, shall be deemed distributed by REMIC I to be made to REMIC II on account of the REMIC I Regular Interests, in each case Interests or withdrawn from the related Loan GroupDistribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, (a) to Holders of REMIC I Regular Interest LT-IA1AA, REMIC Regular Interest LT-1A1, REMIC Regular Interest LT-2A1, REMIC I Regular Interest LT-IA3M1, REMIC I Regular Interest LT-IA4M2, REMIC I Regular Interest LT-IA5M3, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2ZZ, REMIC I Regular Interest LT-B3P and REMIC I Regular Interest LT-AR, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be payable to the Holders of REMIC I Regular Interest LT-1A1, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-B4 and M1, REMIC I Regular Interest LT-B5 M2, REMIC I Regular Interest LT-M3, and REMIC Regular Interest LT-B1 in the same manner and priority proportion as such distributions are made the Overcollateralization Increase Amount is allocated to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balance.; and
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2003 Bc2)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class R Certificates, as the case may be:
(i) to Holders of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2, REMIC I Regular Interest I-LTB3, REMIC I Regular Interest I-LTB4, REMIC I Regular Interest I-LTB5 and REMIC I Regular Interest I-LTZZ, pro rata, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be deemed to reduced when the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I-LTZZ Uncertificated Interest Deferral Amount and such amount will be made payable to the REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2, REMIC I Regular Interest I-LTB3, REMIC I Regular Interest I-LTB4 and REMIC I Regular Interest I-LTB5 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Balance of REMIC I Regular Interest I-LTZZ shall be increased by such amount; to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder to the Holders of REMIC I Regular Interest I-LTAA, until the Uncertificated Balance of such Uncertificated REMIC I Regular Interest is reduced to zero;
(B) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTI-IA1LTA1, REMIC I Regular Interest LTI-IA3LTA2A, REMIC I Regular Interest LTI-IA4LTA2B, REMIC I Regular Interest LTI-IA5LTM1, REMIC I Regular Interest LTI-IA7LTM2, REMIC I Regular Interest LTI-IA8LTM3, REMIC I Regular Interest LTI-IAPOLTM4, REMIC I Regular Interest LTI-IIA1LTB1, REMIC I Regular Interest LTI-IIA2LTB2, REMIC I Regular Interest LTI-IIA3LTB3, REMIC I Regular Interest LTI-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTB4 and REMIC I Regular Interest LTI-B5 LTB5, 1% of and in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Balances of such REMIC I Regular Interests are reduced to each zero and second to the Holders of REMIC I Regular Interest at I-LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest’s Uncertificated Principal BalanceInterest is reduced to zero; then
(C) any remaining amount to the Holders of the Class R Certificates; provided, however, that 98.00% and 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ, respectively.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (FFMLT Trust 2005-Ffa)
Distributions on the REMIC I Regular Interests. (1) (A) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, (a) to Holders of REMIC I Regular Interest LT-AA, REMIC Regular Interest LT-A1, REMIC Regular Interest LT-2A1, REMIC Regular Interest LT-2A2, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC Regular Interest LT-M6, REMIC Regular Interest LT-B, REMIC I Regular Interest LT-ZZ, REMIC I Regular Interest LT-P and REMIC I Regular Interest LT-R, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be payable to the Holders of REMIC Regular Interest LT-A1, REMIC Regxxxx Xxxxxxxx LT-2A1, REMIC Regular Interest LT-2A2, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC Regular Interest LT-M6 and REMIC 109 Regular Interest LT-B in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates; and
(b) to Holders of REMIC I Regular Interest LT-1SUB, REMIC I Regular Interest LT-1GRP, REMIC I Regular Interest LT-2SUB, REMIC I Regular Interest LT-2GRP and REMIC I Regular Interest LT-XX, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates
(i) second, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Marker Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) to the Holders of REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, 98.00% of such remainder (other than amounts payable under clause (d) below), until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause;
(b) to the Holders of REMIC I Regular Interest LT-A1, REMIC I Rxxxxxx Xxxxxxxt LT-2A1, REMIC I Regular Interest LT-2A2, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC I Regular Interest LT-M3, REMIC I Regular Interest LT-M4, REMIC I Regular Interest LT-M5, REMIC I Regular Interest LT-M6 and REMIC Regular Interest LT-B, 1.00% of such remainder (other than amounts payable under clause (d) below), in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to zero;
(c) to the Holders of REMIC I Regular Interest LT-ZZ, 1.00% of such remainder (other than amounts payable under clause (d) below), until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero; then
(d) any remaining amount to the Holders of the Class AR Certificates (in respect of the Class R-I Interest); and provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of (i) REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, in that order and (ii) REMIC I Regular Interest LT-P, respectively; provided that REMIC I Regular Interest LT-P shall not be reduced until the 110 Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause. On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period will be distributed by REMIC I to the Holders of REMIC I Regular Interest LT-P. The payment of the foregoing amounts to the Holders of REMIC I Regular Interest LT-P shall not reduce the Uncertificated Principal Balance thereof.
(iii) third, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Sub WAC Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular InterestsInterests first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in each case from the related Loan Group; second, firstto each REMIC I Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in the related Group over (y) the Certificate Principal Balance of the Class A Certificate in the related Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining principal to REMIC I Regular Interest LT-IA1, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal BalanceXX.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certs Ser 2003-Bc5)
Distributions on the REMIC I Regular Interests. Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular Interests, in each case from the related Loan Group, first, to REMIC I Regular Interest LT-IA1[ ], REMIC I Regular Interest LT-IA3[ ], REMIC I Regular Interest LT-IA4[ ], REMIC I Regular Interest LT-IA5[ ], REMIC I Regular Interest LT-IA7[ ], REMIC I Regular Interest LT-IA8[ ], REMIC I Regular Interest LT-IAPO[ ], REMIC I Regular Interest LT-IIA1[ ], REMIC I Regular Interest LT-IIA2[ ], REMIC I Regular Interest LT-IIA3[ ], REMIC I Regular Interest LT-IIA4[ ], REMIC I Regular Interest LT-IIAPO[ ], REMIC I Regular Interest LT-P1[ ], REMIC I Regular Interest LT-P2[ ], REMIC I Regular Interest LT-M[ ], REMIC I Regular Interest LT-B1[ ], REMIC I Regular Interest LT-B2[ ], REMIC I Regular Interest LT-B3[ ], REMIC I Regular Interest LT-B4 [ ] and REMIC I Regular Interest LT-B5 [ ] in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s 's Uncertificated Principal Balance.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Deutsche Alt-a Securities Inc)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class R Certificates, as the case may be:
(i) to Holders of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2 and REMIC I Regular Interest I-LTZZ, pro rata, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be deemed to reduced when the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I-LTZZ Uncertificated Interest Deferral Amount and such amount will be made payable to the REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2A, REMIC I Regular Interest I-LTA2B, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTB1 and REMIC I Regular Interest I-LTB2 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Balance of REMIC I Regular Interest I-LTZZ shall be increased by such amount; to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder to the Holders of REMIC I Regular Interest I-LTAA, until the Uncertificated Balance of such Uncertificated REMIC I Regular Interest is reduced to zero;
(B) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTI-IA1LTA1, REMIC I Regular Interest LTI-IA3LTA2A, REMIC I Regular Interest LTI-IA4LTA2B, REMIC I Regular Interest LTI-IA5LTM1, REMIC I Regular Interest LTI-IA7LTM2, REMIC I Regular Interest LTI-IA8LTM3, REMIC I Regular Interest LTI-IAPOLTM4, REMIC I Regular Interest LTI-IIA1LTM5, REMIC I Regular Interest LTI-IIA2LTM6, REMIC I Regular Interest LTI-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTB1 and REMIC I Regular Interest LTI-B5 LTB2, 1% of and in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Balances of such REMIC I Regular Interests are reduced to each zero and second to the Holders of REMIC I Regular Interest at I-LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest’s Uncertificated Principal BalanceInterest is reduced to zero; then
(C) any remaining amount to the Holders of the Class R Certificates; provided, however, that 98.00% and 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ, respectively.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S1)
Distributions on the REMIC I Regular Interests. Distributions (1) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class R-I Interest, as the case may be:
(i) to Holders of REMIC I Regular Interest I-LTAA, REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1, REMIC I Regular Interest I-LTB2 and REMIC I Regular Interest I-LTZZ, pro rata, in an amount equal to (A) the Uncertificated Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Interest in respect of REMIC I Regular Interest I-LTZZ shall be deemed reduced when the REMIC I Overcollateralization Amount is less than the REMIC I Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I-LTZZ Uncertificated Interest Deferral Amount and such amount will be payable to be made REMIC I Regular Interest I-LTA1, REMIC I Regular Interest I-LTA2, REMIC I Regular Interest I-LTA3, REMIC I Regular Interest I-LTM1, REMIC I Regular Interest I-LTM2, REMIC I Regular Interest I-LTM3, REMIC I Regular Interest I-LTM4, REMIC I Regular Interest I-LTM5, REMIC I Regular Interest I-LTM6, REMIC I Regular Interest I-LTM7, REMIC I Regular Interest I-LTB1 and REMIC I Regular Interest I-LTB2 in the same proportion as the Overcollateralization Deficiency is allocated to the Corresponding Certificates and the Uncertificated Balance of REMIC I Regular Interest I-LTZZ shall be increased by such amount; to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of the Available Distribution Amount funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(A) 98.00% of such remainder to the Holders of REMIC I Regular Interest I-LTAA, until the Uncertificated Balance of such Uncertificated REMIC I Regular Interest is reduced to zero;
(B) 2.00% of such remainder, first, to the Holders of REMIC I Regular Interest LTI-IA1LTA1, REMIC I Regular Interest LTI-IA3LTA2, REMIC I Regular Interest LTI-IA4LTA3, REMIC I Regular Interest LTI-IA5LTM1, REMIC I Regular Interest LTI-IA7LTM2, REMIC I Regular Interest LTI-IA8LTM3, REMIC I Regular Interest LTI-IAPOLTM4, REMIC I Regular Interest LTI-IIA1LTM5, REMIC I Regular Interest LTI-IIA2LTM6, REMIC I Regular Interest LTI-IIA3LTM7, REMIC I Regular Interest LTI-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 LTB1 and REMIC I Regular Interest LTI-B5 LTB2, 1% of and in the same manner and priority proportion as such distributions principal payments are made allocated to the Corresponding Certificates. Interest shall be payable , until the Uncertificated Balances of such REMIC I Regular Interests are reduced to each zero and second to the Holders of REMIC I Regular Interest at I-LTZZ, until the related Uncertificated REMIC I Pass-Through Rate on each Balance of such REMIC I Regular Interest’s Uncertificated Principal BalanceInterest is reduced to zero; then
(C) any remaining amount to the Holders of the Class RC Certificates; provided, however, that 98.00% and 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of REMIC I Regular Interest I-LTAA and REMIC I Regular Interest I-LTZZ, respectively.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S4)
Distributions on the REMIC I Regular Interests. (1) (A) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, (a) to Holders of REMIC I Regular Interest LT-AA, REMIC Regular Interest LT-1A1, REMIC I Regular Interest LT-1A2, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-2A2, REMIC I Regular Interest LT-2A3, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC 1 Regular Interest LT-M8, REMIC Regular Interest LT-B, REMIC I Regular Interest LT-ZZ, REMIC I Regular Interest LT-P and REMIC I Regular Interest LT-R, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be payable to the Holders of REMIC Regular Interest LT-1A1, REMIC I Regular Interest LT-1A2, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-2A2, REMIC Regular Interest LT-2A3, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC 1 Regular Interest LT-M8 and REMIC Regular Interest LT-B in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC I Regular Interest LT-ZZ shall be increased by such amount; and
(b) to Holders of REMIC I Regular Interest LT-1SUB, REMIC I Regular Interest LT-1GRP, REMIC I Regular Interest LT-2SUB, REMIC I Regular Interest LT-2GRP and REMIC I Regular Interest LT-XX, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates
(i) second, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Marker Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) 98.00% of such remainder (other than amounts payable under clause (c) below), to the Holders of REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause;
(b) 2.00% of such remainder first, to the Holders of REMIC I Regular Interest LT-1A1, REMIC I Regular Interest LT-1A2, REMIC I Regular Interest LT-2A1, REMIC I Regular Interest LT-2A2, REMIC I Regular Interest LT-2A, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC I Regular Interest LT-M3, REMIC I Regular Interest LT-M4, REMIC I Regular Interest LT-M5, REMIC 1 REGULAR Interest LT-M6, REMIC 1 Regular Interest LT-M7, REMIC 1 Regular Interest LT-M8 and REMIC Regular Interest LT-B, 1.00% in the same proportion as principal payments 109 are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to zero and second, to the Holders of REMIC I Regular Interest LT-ZZ, until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero; then
(c) any remaining amount to the Holders of the Class AR Certificates (in respect of the Class R-I Interest); and provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of (i) REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, in that order and (ii) REMIC I Regular Interest LT-ZZ, respectively; provided that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause. On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period will be distributed by REMIC I to the Holders of REMIC I Regular Interest LT-P. The payment of the foregoing amounts to the Holders of REMIC I Regular Interest LT-P shall not reduce the Uncertificated Principal Balance thereof.
(ii) third, to the Holders of REMIC I Regular Interests, in an amount equal to the remainder of the REMIC I Sub WAC Allocation Percentage of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular InterestsInterests first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in each case from the related Loan Group; second, firstto each REMIC I Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in the related Group over (y) the Certificate Principal Balance of the Class A Certificate in the related Group (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and third, any remaining principal to REMIC I Regular Interest LT-IA1XX.
(b) Notwithstanding the distributions described in this Section 4.09, REMIC I Regular Interest LT-IA3, REMIC I Regular Interest LT-IA4, REMIC I Regular Interest LT-IA5, REMIC I Regular Interest LT-IA7, REMIC I Regular Interest LT-IA8, REMIC I Regular Interest LT-IAPO, REMIC I Regular Interest LT-IIA1, REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 and REMIC I Regular Interest LT-B5 in the same manner and priority as such distributions are made to the Corresponding Certificates. Interest distribution of funds shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balancemade only in accordance with Section 4.04.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (CWABS Asset-Backed Certificates Trust 2004-Bc4)
Distributions on the REMIC I Regular Interests. Distributions (a) (1)(A) On each Distribution Date, the following amounts, in the following order of principal priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Loans Distribution Account and distributed to the holders of the Class AR Certificates (in respect of the Class R-I Interest), as the case may be:
(i) first, (a) to Holders of REMIC I Regular Interest LT-AA, REMIC Regular Interest LT-A1, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, REMIC Regular Interest LT-B, REMIC I Regular Interest LT-ZZ, REMIC I Regular Interest LT-P and REMIC I Regular Interest LT-AR, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I Regular Interest LT-ZZ shall be deemed to reduced and deferred when the REMIC I Overcollateralized Amount is less than the REMIC I Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the REMIC I Regular Interest LT-ZZ Maximum Interest Deferral Amount and such amount will be made payable to the Holders of REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Interest LT-M1, REMIC I Regular Interest LT-M2, REMIC I Regular Interest LT-M3, REMIC Regular Interest LT-M4, REMIC Regular Interest LT-M5, and REMIC Regular Interest LT-B in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC I Regular Interest LT-ZZ shall be increased by such amount;
(ii) second, to the Holders of REMIC I Regular Interests, in each case from an amount equal to the related Loan Groupremainder of Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, firstallocated as follows:
(a) to the Holders of REMIC I Regular Interest LT-AA and REMIC I Regular Interest LT-P, 98.00% of such remainder (other than amounts payable under clause (d) below), until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero, provided, however, that REMIC I Regular Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-IA1P, until $100 has been distributed pursuant to this clause;
(b) to the Holders of REMIC I Regular Xxxxxxxx XX-X0, REMIC I Regular Interest LT-IA3M1, REMIC I Regular Interest LT-IA4M2, REMIC I Regular Interest LT-IA5M3, REMIC I Regular Interest LT-IA7M4, REMIC I Regular Interest LT-IA8M5, REMIC I Regular Interest LT-IAPOB, and REMIC Regular Interest LT-R, 1.00% of such remainder (other than amounts payable under clause (d) below), in the same proportion as principal payments are allocated to the Corresponding Certificates, until the Uncertificated Principal Balances of such REMIC I Regular Interests are reduced to zero;
(c) to the Holders of REMIC I Regular Interest LT-IIA1ZZ, 1.00% of such remainder (other than amounts payable under clause (d) below), until the Uncertificated Principal Balance of such REMIC I Regular Interest is reduced to zero; then
(d) any remaining amount to the Holders of the Class AR Certificates (in respect of the Class R-I Interest); and provided, however, that (i) 98.00% and (ii) 2.00% of any principal payments that are attributable to an Overcollateralization Reduction Amount shall be allocated to Holders of (i) REMIC I Regular Interest LT-IIA2, REMIC I Regular Interest LT-IIA3, REMIC I Regular Interest LT-IIA4, REMIC I Regular Interest LT-IIAPO, REMIC I Regular Interest LT-P1, REMIC I Regular Interest LT-P2, REMIC I Regular Interest LT-M, REMIC I Regular Interest LT-B1, REMIC I Regular Interest LT-B2, REMIC I Regular Interest LT-B3, REMIC I Regular Interest LT-B4 AA and REMIC I Regular Interest LT-B5 P, in the same manner that order and priority as such distributions are made to the Corresponding Certificates. Interest shall be payable to each (ii) REMIC I Regular Interest at the related Uncertificated REMIC I PassLT-Through Rate on each such P, respectively; provided that REMIC I Regular Interest’s Interest LT-P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I Regular Interest LT-P, until $100 has been distributed pursuant to this clause. On each Distribution Date, all amounts representing Prepayment Charges in respect of the Mortgage Loans received during the related Prepayment Period will be distributed by REMIC I to the Holders of REMIC I Regular Interest LT-P. The payment of the foregoing amounts to the Holders of REMIC I Regular Interest LT-P shall not reduce the Uncertificated Principal BalanceBalance thereof.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Cwabs Inc Asset Backed Certificates Series 2004 Bc1)
