Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2-PO Component, the Class 3-PO Component and the Class 4-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 and Loan Group 4, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding 2005-8 Trust)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component and the Class 4-PO ComponentCertificates, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 and Loan Group 4, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest and Class 5-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest and the Class 45-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-A-PO Component, the Class 2-A-PO Component, the Class 3-A-PO Component, the Class 4-A-PO Component and the Class 45-A-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest and the Class 45-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4 and Loan Group 45, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest and the Class 45-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest and the Class 45-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4" and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances of the Class 1-A-PO Component, the Class 2-A-PO Component, the Class 3-A-PO Component, the Class 4-A-PO Component and the Class 5-A-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "1," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Component Balance of the Class 1-A-PO Component, (ii) the principal balance of the Class 2-LPO Interest will be equal to the Component Balance of the Class 2-A-PO Component, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-A-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-A-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-A-PO Component. As of any date, (i) the notional amount of the Class 1-LWIO Interest will be equal to the Class 1-CB-IO Notional Amount, (ii) the notional amount of the Class 2-LWIO Interest will be equal to the Class 2-CB-IO Notional Amount, (iii) the notional amount of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional amount of the Class 4-LWIO Interest will be equal to the Class 4-15-IO Notional Amount and (v) the notional amount of the Class 5-LWIO Interest will be equal to the Class 5-15-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 5.000% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 2-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-CB-IO Component, Class 2-CB-IO Component, Class 3-CB-IO Component, Class 4-15-IO Component and Class 5-15-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Interest and Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Interest and Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2-PO Component, the Class 3-PO Component and the Class 42-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 42-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, 1 and Loan Group 2, Loan Group 3 and Loan Group 4, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Interest and Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Interest and Class 2-L Interest, the Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," and from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-6 Trust)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 215-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest and Class 5-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 215-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest and the Class 45-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-PO ComponentCertificates, the Class 215-PO Certificates, the Class 3-CB-PO Component, the Class 34-CB-PO Component and the Class 45-CB-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest and the Class 45-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4 and Loan Group 45, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest and the Class 45-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest and the Class 45-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2" or the numeral "15," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4" and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 15-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-PO Certificates, the Class 15-PO Certificates, the Class 3-CB-PO Component, the Class 4-CB-PO Component and the Class 5-CB-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "1," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2" or the numeral "15," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Class Certificate Balance of the Class 1-PO Certificates, (ii) the principal balance of the Class 15-LPO Interest will be equal to the Class Certificate Balance of the Class 15-PO Certificates, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-CB-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-CB-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-CB-PO Component. As of any date, (i) the notional amount of the Class 1-LWIO Interest will be equal to the Class 1-IO Notional Amount, (ii) the notional amount of the Class 15-LWIO Interest will be equal to the Class 15-IO Notional Amount, (iii) the notional amount of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional amount of the Class 4-LWIO Interest will be equal to the Class 4-CB-IO Notional Amount and (v) the notional amount of the Class 5-LWIO Interest will be equal to the Class 5-CB-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 6.500% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 6.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 15-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-IO Certificates, Class 15-IO Certificates, Class 3-CB-IO Component, Class 4-CB-IO Component and Class 5-CB-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 15-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-4)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Interest and Class 3-LPO Interest and the Class 4-LPO Interest Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Interest and Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Class Certificate Balance or Component Balances Balances, as the case may be, of the Class 1CB-PO ComponentCertificates, the Class 2-PO Component, the Class 3X-PO Component and the Class 43-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 43-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 2 and Loan Group 43, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Interest and Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Interest and Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-5)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Interest and Class 3-LPO Interest and the Class 4-LPO Interest Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi5.02(a). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Interest and Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-A-PO Component, the Class 2-PO Component, the Class 3A-PO Component and the Class 43-A-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 43-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 2 and Loan Group 43, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Interest and Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Interest and Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Interest and Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest ) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Interest and Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2-PO Component, the Class 3X-PO Component and the Class 42-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 43-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 2 and Loan Group 43, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Interest and Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Interest and Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-8)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and the Class 46-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-PO Certificates, the Class 4-CB-PO Component, the Class 5-CB-PO Component and the Class 46-PO Component, respectivelyCertificates; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and the Class 46-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4, Loan Group 5 and Loan Group 46, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and the Class 46-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and the Class 46-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-3)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Interest and Class 3-LPO Interest and the Class 4-LPO Interest Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Interest and Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-CB-PO Component, the Class 2-PO Component, the Class 3CB-PO Component and the Class 43-CB-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 43-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 2 and Loan Group 43, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Interest and Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Interest and Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO, Class 5-LPO Interest, Class 6-LPO Interest and Class 7-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest, Class 6-LPO Interest and the Class 47-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-A-PO Component, the Class 2-A-PO Component, the Class 3-A-PO Component, the Class 4-A-PO Component, the Class 5-A-PO Component, the Class 6-A-PO Component and the Class 47-A-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, the Class 5-LS Interest, the Class 6-LS Interest and the Class 47-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4, Loan Group 5, Loan Group 6 and Loan Group 47, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest, Class 6-LS Interest and the Class 47-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest, Class 5-L Interest, Class 6-L Interest and the Class 47-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5," from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6" and from the Group 7 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "7."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest and Class 5-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest and the Class 45-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-X-PO Component and the Class 45-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest and the Class 45-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4 and Loan Group 45, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest and the Class 45-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest and the Class 45-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4" and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-X-PO Component and the Class 5-X-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "1," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Component Balance of the Class 1-CB-PO Component, (ii) the principal balance of the Class 2-LPO Interest will be equal to the Component Balance of the Class 2-CB-PO Component, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-CB-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-X-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-X-PO Component. As of any date, (i) the notional amount of the Class 1-LWIO Interest will be equal to the Class 1-CB-IO Notional Amount, (ii) the notional amount of the Class 2-LWIO Interest will be equal to the Class 2-CB-IO Notional Amount, (iii) the notional amount of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional amount of the Class 4-LWIO Interest will be equal to the Class 4-X-IO Notional Amount and (v) the notional amount of the Class 5-LWIO Interest will be equal to the Class 5-X-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 2-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-CB-IO Component, Class 2-CB-IO Component, Class 3-CB-IO Component, Class 4-X-IO Component and Class 5-X-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest Interest, at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2-PO Component, the Class 3-PO Component and the Class 4-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 and Loan Group 4, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and the Class 46-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2X-PO Component, the Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and the Class 46-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and the Class 46-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4, Loan Group 5 and Loan Group 46, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and the Class 46-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and the Class 46-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2005-12)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2-PO Component, the Class 3-PO Component and the Class 4-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 and Loan Group 4, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-7 Trust)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Class 4-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-PO Component, the Class 2CB-PO Component, the Class 2-CB-PO Component, Class 3-CB-PO Component and the Class 4-CB-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 and Loan Group 4, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Class 4-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest and the Class 4-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3" and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-1)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and the Class 46-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-PO Certificates, the Class 5-15-PO Component and the Class 46-15-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, the Class 5-LS Interest and the Class 46-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4, Loan Group 5 and Loan Group 46, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and the Class 46-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and the Class 46-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."
Appears in 1 contract
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest, Class 5-LPO Interest, Class 6-LPO Interest and Class 7-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest, Class 6-LPO Interest and the Class 47-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-CB-PO Component, the Class 5-PO Certificates, the Class 6-15-PO Component and the Class 47-15-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest, Class 6-LS Interest and the Class 47-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4, Loan Group 5, Loan Group 6 and Loan Group 47, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest, Class 6-LS Interest and the Class 47-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest, Class 5-L Interest, Class 6-L Interest and the Class 47-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5," from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6" and from the Group 7 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "7."
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-2)
Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest and the Interest, Class 4-LPO Interest and Class 5-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, Class 4-LPO Interest and the Class 45-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-CB-PO Component and the Class 45-CB-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest and the Class 45-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3 3, Loan Group 4 and Loan Group 45, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest and the Interest, Class 4-LS Interest, Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Class 4-L Interest and the Class 45-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4" and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-CB-PO Component and the Class 5-CB-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "1," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Component Balance of the Class 1-CB-PO Component, (ii) the principal balance of the Class 2-LPO Interest will be equal to the Component Balance of the Class 2-CB-PO Component, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-CB-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-CB-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-CB-PO Component. As of any date, (i) the notional balance of the Class 1-LWIO Interest will be equal to the Class 1-CB-IO Notional Amount, (ii) the notional balance of the Class 2-LWIO Interest will be equal to the Class 2-CB-IO Notional Amount, (iii) the notional balance of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional balance of the Class 4-LWIO Interest will be equal to the Class 4-CB-IO Notional Amount and (v) the notional balance of the Class 5-LWIO Interest will be equal to the Class 5-CB-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 6.500% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 2-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-CB-IO Component, Class 2-CB-IO Component, Class 3-CB-IO Component, Class 4-CB-IO Component and Class 5-CB-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."
Appears in 1 contract