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Common use of Interest Distributions Clause in Contracts

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributed: (i) first, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating to the Group I Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, in each case to the extent not paid pursuant to clause (a)(ii) above, allocated pro rata based on entitlement pursuant to this clause (b)(iii); (c) any Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (a) and (b) above will be distributed: (i) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iii) third, to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (d) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (C Bass Mortgage Loan Asset Backed Certs Ser 2002 Cb2)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, and to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificatesas follows: (a) concurrently, from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 and Class A-1A Certificates, pro rata, the Class applicable Accrued Certificate Interest thereon for such Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii);Date; and (iiib) third, concurrently, to the Class A-IO Certificates, from the Group II Class A-IO 2 Interest Distribution and Remittance Amount to the Class A-2 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; (iii) concurrently, as follows: (a) concurrently, from the Group 1 Interest Remittance Amount to the Class A-2 A-1 and Class A-1A Certificates, in each case to pro rata, the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii);applicable Interest Carry Forward Amount thereon for such Distribution Date; and (b) from the Group II 2 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 and Class A-1A Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, concurrently, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 and Class A-1A Certificates, pro rata, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(b) above, from the remaining Group 1 Interest Remittance Amount, to the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii)cover such shortfall for such Distribution Date; (iiiv) thirdconcurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 and Class A-1A Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, concurrently, from the remaining Group 2 Interest Remittance Amount, to the Class A-IO A-1 and Class A-1A Certificates, pro rata, to cover such shortfall for such Distribution Date; and (b) if the Group I 2 Interest Remittance Amount is insufficient to pay the Class A-IO A-2 Certificates' Interest Carry Forward Amount for such Distribution and Date pursuant to Section 4.01(iii)(b) above, from the remaining Group 1 Interest Remittance Amount, to the Class A-1 A-2 Certificates, the Class Interest to cover such shortfall for such Distribution for the Class A-1 Certificates, in each case to the extent not paid pursuant to clause (a)(ii) above, allocated pro rata based on entitlement pursuant to this clause (b)(iii)Date; (cvi) any Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (a) and (b) above will be distributed: (i) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xii) to the Class B Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dxiii) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2004-Opt1)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date and to the Insurer, the Premium for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-1 A-2, Class A-3 and Class A-4 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii)rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) third, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2, Class A-3 and Class A-4 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2, Class A-3 and Class A-4 Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to clause (a)(iiSection 4.01(ii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-1, Class A-2 and Class A-3 Certificates, pro rata based on entitlement pursuant rata, to this clause (b)(iii)cover such shortfall for such Distribution Date; (cv) any concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount and is insufficient to pay the Class A-1 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group II 2 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount remaining undistributed following is insufficient to pay the distributions Class A-2, Class A-3 and Class A-4 Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to clauses (aSection 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2, Class A-3 and (b) above will be distributed:Class A-4 Certificates, pro rata, to cover such shortfall for such Distribution Date; (ivi) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dxii) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstConcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, and to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date; (ii) second, concurrently, as follows: (a) concurrently, from the Group 1 Interest Remittance Amount to the Class A-1 Certificates and the Class A-IO Certificates, pro rata, the Accrued Certificate Interest or the Group I 1 Class A-IO Accrued Certificate Interest, as applicable, for such Distribution Date; and (b) concurrently, from the Group 2 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii); (iii) third, concurrently, to A-2 Certificates and the Class A-IO Certificates, pro rata, the Accrued Certificate Interest or the Group II 2 Class A-IO Accrued Certificate Interest, as applicable, for such Distribution Date; (iii) concurrently, as follows: (a) concurrently, from the Group 1 Interest Distribution and Remittance Amount to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to A-1 Certificates and the Class A-IO Certificates, pro rata, the Interest Carry Forward Amount for the Class A-1 Certificates and the Group II 1 Class A-IO Interest Carry Forward Amount for such Distribution and Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to Certificates and the Class A-IO Certificates, pro rata, the Interest Carry Forward Amount for the Class A-2 Certificates and the Group I 2 Class A-IO Interest Carry Forward Amount for such Distribution and Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest or the Class A-IO Certificates' Group 1 Class A-IO Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, concurrently, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates and the Class A-IO Certificates, pro rata, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 Certificates' Accrued Certificate Interest or the Class A-IO Certificates' Group 2 Class A-IO Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2 Certificates and the Class A-IO Certificates, pro rata, to cover such shortfall for such Distribution Date; (v) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates, in each case to ' Interest Carry Forward Amount or the extent not paid Group 1 Class A-IO Interest Carry Forward Amount for such Distribution Date pursuant to clause (a)(iiSection 4.01(iii)(a) above, allocated concurrently, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates and the Class A-IO Certificates, pro rata based on entitlement rata, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 Certificates' Interest Carry Forward Amount or the Group 2 Class A-IO Interest Carry Forward Amount for such Distribution Date pursuant to this clause (b)(iii)Section 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2 Certificates and the Class A-IO Certificates, pro rata, to cover such shortfall for such Distribution Date; (cvi) any Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (a) and (b) above will be distributed: (i) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (ivx) fourth, to the Class B-2 B Certificates, the Accrued Certificate Interest thereon for such Distribution Date;; and (dxi) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2002-Nc1)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, as follows: (A) from the Group I Interest Remittance Amount or Amount, to the Class AF-1, Class AF-2 and Class AF-3 Certificates and Class I-A-IO Component, pro rata, the applicable Accrued Certificate Interest for such Distribution Date; and (B) from the Group II Interest Remittance Amount, as applicableto the Class AV-1 and Class AV-2 Certificates and Class II-A-IO Component, remaining pro rata, the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, as follows: (aA) from the Group I Interest Remittance Amount, to the Class AF-1, Class AF-2 and Class AF-3 Certificates and Class I-A-IO Component, pro rata, the applicable Interest Carry Forward Amount for the Class AF-1, Class AF-2 and Class AF-3 Certificates and Class I-A-IO Components, respectively; and (B) from the Group II Interest Remittance Amount, to the Class AV-1 and Class AV-2 Certificates and Class II-A-IO Component, pro rata, the applicable Interest Carry Forward Amount for the Class AV-1 and Class AV-2 Certificates and Class II-A-IO Components, respectively; (iv) concurrently, as follows: (A) if the Group I Interest Remittance Amount will be distributed: (i) first, is insufficient to pay the Accrued Certificate Interest and the Interest Carry Forward Amount to the TrusteeClass AF-1, Class AF-2 and the portion of Class AF-3 Certificates and the Trustee Fee Class I-A-IO Component for such Distribution Date relating pursuant to clauses (ii)(A) and (iii)(A) above, concurrently from the remaining Group I Mortgage Loans; II Interest Remittance Amount following distributions pursuant to clauses (iiii)(B) second, concurrentlyand (iii)(B) above, to the Class AF-1, Class AF-2 and the Class AF-3 Certificates and the Class I-A-IO CertificatesComponent, the Group I Class A-IO Interest pro rata, to cover such shortfall for such Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii);Date; and (iiiB) third, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) if the Group II Interest Remittance Amount will be distributed: (i) first, is insufficient to pay the Accrued Certificate Interest and the Interest Carry Forward Amount to the Trustee,Class AV-1 and Class AV-2 Certificates and the portion of the Trustee Fee Class II-A-IO Component for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause clauses (b)(ii); ii)(B) and (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, in each case to the extent not paid pursuant to clause (a)(iiiii)(B) above, allocated pro rata based on entitlement pursuant to this clause (b)(iii); (c) any concurrently from the remaining Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (aii)(A) and (biii)(A) above will be distributed:above, to the Class AV-1 and Class AV-2 Certificates and the Class II-A-IO Component, pro rata, to cover such shortfall for such Distribution Date; (iv) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivi) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiivii) third, to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and; (ivviii) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dix) to the Class B-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (C Bass Mortgage Loan Asset Backed Cert Series 2002-Cb5)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii);Date; and (iiib) third, concurrently, to the Class A-IO Certificates, from the Group II Class A-IO 2 Interest Distribution and Remittance Amount to the Class A-2 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; (iii) concurrently, as follows: (a) from the Group 1 Interest Remittance Amount to the Class A-2 A-1 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii);Interest Carry Forward Amount thereon for such Distribution Date; and (b) from the Group II 2 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Carry Forward Amount thereon for such Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii)Date; (iiiiv) third, concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-IO A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group I Class A-IO 2 Interest Distribution and Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(b) above, from the remaining Group 1 Interest Remittance Amount, to the Class A-2 Certificates, to cover such shortfall for such Distribution Date; (v) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to clause (a)(iiSection 4.01(iii)(b) above, allocated pro rata based on entitlement pursuant from the remaining Group 1 Interest Remittance Amount, to this clause (b)(iii)the Class A-2 Certificates, to cover such shortfall for such Distribution Date; (cvi) any Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (a) and (b) above will be distributed: (i) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xii) to the Class M-7 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dxiii) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2004-Ff1)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of available: (i) to the Group I Interest Remittance Amount or Credit Risk Manager, the Group II Interest Remittance Amount, as applicable, remaining Credit Risk Manager Fee for such Distribution Date; (ii) concurrently, as follows: (a) from the Group I 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating to the Group I Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-1 A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii)rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) third, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to clause (a)(iiSection 4.01(ii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates, pro rata based on entitlement pursuant rata, to this clause (b)(iii)cover such shortfall for such Distribution Date; (cv) any concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount and is insufficient to pay the Class A-1 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group II 2 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount remaining undistributed following is insufficient to pay the distributions Class A-2A, Class A-2B, Class A-2C and Class A-2D Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to clauses (aSection 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2A, Class A-2B, Class A-2C and (b) above will be distributed:Class A-2D Certificates, pro rata, to cover such shortfall for such Distribution Date; (ivi) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) thirdto the Class M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xii) to the Class M-7 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xiii) to the Class M-8 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xiv) to the Class M-9 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xv) to the Class M-10 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xvi) to the Class M-11 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xvii) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and; (ivxviii) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date;; and (dxix) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-He2)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date and to the Insurer, the Premium for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-1 A-2, Class A-3 and Class A-4 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii)rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) third, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2, Class A-3 and Class A-4 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2, Class A-3 and Class A-4 Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to clause (a)(iiSection 4.01(ii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2, Class A-3 and Class A-4 Certificates, pro rata based on entitlement pursuant rata, to this clause (b)(iii)cover such shortfall for such Distribution Date; (cv) any concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount and is insufficient to pay the Class A-1 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group II 2 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount remaining undistributed following is insufficient to pay the distributions Class A-2, Class A-3 and Class A-4 Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to clauses (aSection 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2, Class A-3 and (b) above will be distributed:Class A-4 Certificates, pro rata, to cover such shortfall for such Distribution Date; (ivi) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (ivxii) fourth, to the Class B-2 M-7 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (d) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset-Backed Funding Corp. ABFC Asset Backed Certificates, Series 2004-Opt5)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating and to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-1 A-2, Class A-3 and Class A-4 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii)rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) third, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2, Class A-3 and Class A-4 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2, Class A-3 and Class A-4 Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to clause (a)(iiSection 4.01(ii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2, Class A-3 and Class A-4 Certificates, pro rata based on entitlement pursuant rata, to this clause (b)(iii)cover such shortfall for such Distribution Date; (cv) any concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount and is insufficient to pay the Class A-1 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group II 2 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount remaining undistributed following is insufficient to pay the distributions Class A-2, Class A-3 and Class A-4 Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to clauses (aSection 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2, Class A-3 and (b) above will be distributed:Class A-4 Certificates, pro rata, to cover such shortfall for such Distribution Date; (ivi) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (ivxii) fourth, to the Class B-2 M-7 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (d) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, as follows: (A) from the Group I Interest Remittance Amount or Amount, sequentially to Component A-IO-1 and the Class AF-1 Certificates, the applicable Accrued Certificate Interest for such Distribution Date; and (B) from the Group II Interest Remittance Amount, as applicablesequentially to Component A-IO-2 and the Class AV-1 Certificates, remaining the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, as follows: (aA) from the Group I Interest Remittance Amount, sequentially to Component A-IO-1 and the Class AF-1 Certificates, the applicable Interest Carry Forward Amount for such Distribution Date for Component A-IO-1 and the Class AF-1 Certificates, respectively; and (B) from the Group II Interest Remittance Amount, sequentially to Component A-IO-2 and the Class AV-1 Certificates, the applicable Interest Carry Forward Amount for such Distribution Date for Component A-IO-2 and the Class AV-1 Certificates; (iv) concurrently, as follows: (A) if the Group I Interest Remittance Amount will be distributed: (i) first, is insufficient to pay the Accrued Certificate Interest and the Interest Carry Forward Amount to the Trustee, the portion of the Trustee Fee Class AF-1 Certificates and Component A-IO-1 for such Distribution Date relating pursuant to clauses (ii)(A) and (iii)(A) above, concurrently from the remaining Group I Mortgage Loans;II Interest Remittance Amount following distributions pursuant to clauses (ii)(B) and (iii)(B) above, to Component A-IO-1 and the Class AF-1 Certificates, sequentially, to cover such shortfall for such Distribution Date; and (iiB) second, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) if the Group II Interest Remittance Amount will be distributed: (i) first, is insufficient to pay the Accrued Certificate Interest and the Interest Carry Forward Amount to the Trustee,the portion of the Trustee Fee Class AV-1 Certificates and Component A-IO-2 for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause clauses (b)(ii); ii)(B) and (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, in each case to the extent not paid pursuant to clause (a)(iiiii)(B) above, allocated pro rata based on entitlement pursuant to this clause (b)(iii); (c) any concurrently from the remaining Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (aii)(A) and (biii)(A) above will be distributed:above, to Component A-IO-2 and the Class AV-1 Certificates, sequentially, to cover such shortfall for such Distribution Date; (iv) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivi) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiivii) third, to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and; (ivviii) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dix) to the Class B-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (x) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date and to the Insurer, the Premium for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class Accrued Certificate Interest thereon for such Distribution for Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-1 A-2, Class A-3 and Class A-4 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii)rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) third, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2, Class A-3 and Class A-4 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2, Class A-3 and Class A-4 Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to clause (a)(iiSection 4.01(ii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-3, Class A-3 and Class A-4 Certificates, pro rata based on entitlement pursuant rata, to this clause (b)(iii)cover such shortfall for such Distribution Date; (cv) any concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount and is insufficient to pay the Class A-1 Certificates' Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group II 2 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount remaining undistributed following is insufficient to pay the distributions Class A-2, Class A-3 and Class A-4 Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to clauses (aSection 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2, Class A-3 and (b) above will be distributed:Class A-4 Certificates, pro rata, to cover such shortfall for such Distribution Date; (ivi) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dxii) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Asset Backed Funding Corp. ABFC Asset Backed Certificates Series 2004-Opt3)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, as follows: (A) from the Group I Interest Remittance Amount or Amount, sequentially to (x) Component A-IO-1 and (y) the Class AF-1 Certificates, the applicable Accrued Certificate Interest for such Distribution Date; and (B) from the Group II Interest Remittance Amount, as applicablesequentially to (x) Component A-IO-2 and (y) the Class AV-1, remaining Class AV-2 and Class AV-3 Certificates, pro rata, the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, as follows: (aA) from the Group I Interest Remittance Amount will be distributed: Amount, sequentially to (ix) first, to Component A-IO-1 and (y) the TrusteeClass AF-1 Certificates, the portion of the Trustee Fee applicable Interest Carry Forward Amount for such Distribution Date relating to for Component A-IO-1 and the Group I Mortgage Loans;Class AF-1 Certificates, respectively; and (iiB) second, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) from the Group II Interest Remittance Amount, sequentially to (x) Component A-IO-2 and (y) the Class AV-1, Class AV-2 and Class AV-3 Certificates, pro rata, the applicable Interest Carry Forward Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to for Component A-IO-2 and the Group II Mortgage LoansClass AV-1, Class AV-2 and Class AV-3 Certificates, respectively; (iiiv) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii);as follows: (iiiA) third, concurrently, to from the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, in each case to the extent not paid pursuant to clause (a)(ii) above, allocated pro rata based on entitlement pursuant to this clause (b)(iii); (c) any Group I Interest Remittance Amount, sequentially, to (x) Component A-IO-2 and (y) the Class AV-1, Class AV-2 and Class AV-3 Certificates, pro rata, any unpaid Accrued Certificate Interest and Interest Carry Forward Amount and for each such Class for such Distribution Date; and (B) from the Group II Interest Remittance Amount remaining undistributed following the distributions pursuant Amount, sequentially, to clauses (ax) Component A-IO-1 and (by) above will be distributed:Class AF-1 Certificates, any unpaid Accrued Certificate Interest and Interest Carry Forward Amount for each such Class for such Distribution Date; (iv) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivi) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiivii) thirdto the Class M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (viii) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and; (ivix) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dx) to the Class B-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class B-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (xii) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II related Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) first, to the TrusteeCredit Risk Manager, the portion of the Trustee Credit Risk Manager Fee for such Distribution Date relating to the Group I Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the Class Interest Distribution for the Class A-1 Certificates, in each case to the extent not paid pursuant to clause (a)(ii) above, allocated pro rata based on entitlement pursuant to this clause (b)(iii); (c) any Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (a) and (b) above will be distributed: (i) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ii) secondconcurrently, as follows: (a) from the Group 1 Interest Remittance Amount to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iii) third, to the Class B-1 Group 1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (ivb) fourthconcurrently, from the Group 2 Interest Remittance Amount to the Class B-2 Group 2 Certificates, pro rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (diii) concurrently, as follows: (a) from the Group 1 Interest Remittance Amount to the Group 1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Group 2 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Group 1 Certificates’ Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Group 1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Group 2 Certificates’ applicable Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Group 2 Certificates, pro rata, to cover such shortfall for such Distribution Date; (v) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Group 1 Certificates’ Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Group 1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Group 2 Certificates’ applicable Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Group 2 Certificates, pro rata, to cover such shortfall for such Distribution Date; (vi) sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10, Class M-11, Class M-12, Class B-1 and Class B-2 Certificates, in that order, the related Accrued Certificate Interest thereon for such Distribution Date; and (vii) the amount, if any, of the Group I Interest Remittance Amount and the Group II related Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC Asset-Backed Certificates, Series 2005-Wmc1)

Interest Distributions. On each Distribution Date, the Trustee Securities Administrator shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance ReportMaster Servicer's Certificate, upon which the Trustee Securities Administrator may conclusively rely), and the calculations required to be made by the TrusteeSecurities Administrator, in each case to the extent of available: (i) to the Group I Interest Remittance Amount or Credit Risk Manager, the Group II Interest Remittance Amount, as applicable, remaining Credit Risk Manager Fee for such Distribution Date; (ii) concurrently, as follows: (a) concurrently, from the Group I 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating to the Group I Mortgage Loans; (ii) second, concurrentlyAmount, to the Class A-IO A-1A and Class A-1B Certificates, pro rata (based on the Accrued Certificate Interest for each such Class), the applicable Accrued Certificate Interest thereon for such Distribution Date; (b) concurrently, from the Group I Class A-IO 2 Interest Distribution and Remittance Amount, to the Class A-1 A-2A and Class A-2B Certificates, the Class Interest Distribution for the Class A-1 Certificates, allocated pro rata (based on entitlement pursuant to this clause (a)(iithe Accrued Certificate Interest for each such Class), the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) thirdconcurrently, as follows: (a) concurrently, from the Group 1 Interest Remittance Amount, to the Class A-IO A-1A and Class A-1B Certificates, pro rata (based on the Group II Class A-IO Interest Distribution and to the Class A-2 CertificatesCarry Forward Amount for each such Class), the Class applicable Interest Carry Forward Amount thereon for such Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii)Date; (b) concurrently, from the Group II 2 Interest Remittance Amount, to the Class A-2A and Class A-2B Certificates, pro rata (based on the Interest Carry Forward Amount for each such Class) the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount will be distributed: (i) first, is insufficient to pay the Trustee,the portion of the Trustee Fee Class A-1A and Class A-1B Certificates' applicable Accrued Certificate Interest for such Distribution Date relating pursuant to Section 4.01(ii)(a) above, from the remaining Group II Mortgage Loans; (ii) second, concurrently2 Interest Remittance Amount, to the Class A-IO A-1A and Class A-1B Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata (based on entitlement pursuant the remaining Accrued Certificate Interest for each such Class), to this clause (b)(ii)cover such shortfall for such Distribution Date; (iiib) thirdif the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2A and Class A-2B Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-IO A-2A and Class A-2B Certificates, pro rata (based on the remaining Accrued Certificate Interest for each such Class), to cover such shortfall for such Distribution Date; (v) concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount is insufficient to pay the Class A-IO A-1A and Class A-1B Certificates' applicable Interest Carry Forward Amount for such Distribution and Date pursuant to Section 4.01(iii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 A-1A and Class A-1B Certificates, pro rata (based on the remaining Interest Carry Forward Amount for each such Class), to cover such shortfall for such Distribution Date; (b) if the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2A and Class A-2B Certificates' applicable Interest Carry Forward Amount for such Distribution for the Class A-1 Certificates, in each case to the extent not paid Date pursuant to clause (a)(iiSection 4.01(iii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2A and Class A-2B Certificates, pro rata (based on entitlement pursuant the remaining Interest Carry Forward Amount for each such Class), to this clause (b)(iii)cover such shortfall for such Distribution Date; (cvi) any Group I Interest Remittance Amount and Group II Interest Remittance Amount remaining undistributed following the distributions pursuant to clauses (a) and (b) above will be distributed: (i) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) thirdto the Class M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xii) to the Class M-7 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xiii) to the Class M-8 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xiv) to the Class M-9 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xv) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dxvi) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ABFC 2007-Wmc1 Trust)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Group I Interest Remittance Amount and the Group II Interest Remittance Amount and apply them it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, in each case to the extent of the Group I Interest Remittance Amount or the Group II Interest Remittance Amount, as applicable, remaining for such Distribution Date: (a) the Group I Interest Remittance Amount will be distributedavailable: (i) firstconcurrently, to the Trustee, the portion of the Trustee Fee for such Distribution Date relating Date, and to the Group I Mortgage LoansCredit Risk Manager, the Credit Risk Manager Fee for such Distribution Date, pro rata; (ii) second, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group I Class A-IO 1 Interest Distribution and Remittance Amount to the Class A-1 Certificates, the Class applicable Accrued Certificate Interest thereon for such Distribution for Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-1 A-2 and Class A-3 Certificates, allocated pro rata based on entitlement pursuant to this clause (a)(ii)rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) third, concurrently, to the Class A-IO Certificates, as follows: (a) from the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, in each case to the extent not paid pursuant to clause (b)(ii) below, allocated pro rata based on entitlement pursuant to this clause (a)(iii); (b) the Group II 1 Interest Remittance Amount will be distributed: (i) first, to the Trustee,the portion of the Trustee Fee for such Distribution Date relating to the Group II Mortgage Loans; (ii) second, concurrently, to the Class A-IO Certificates, the Group II Class A-IO Interest Distribution and to the Class A-2 Certificates, the Class Interest Distribution for the Class A-2 Certificates, allocated pro rata based on entitlement pursuant to this clause (b)(ii); (iii) third, concurrently, to the Class A-IO Certificates, the Group I Class A-IO Interest Distribution and to the Class A-1 Certificates, the applicable Interest Carry Forward Amount thereon for such Distribution Date; and (b) concurrently, from the Group 2 Interest Remittance Amount to the Class A-2 and Class A-3 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date; (iv) concurrently, as follows: (a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount, to the Class A-1 Certificates, in each case to cover such shortfall for such Distribution Date; and (b) if the extent not paid Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 and Class A-3 Certificates' applicable Accrued Certificate Interest for such Distribution Date pursuant to clause (a)(iiSection 4.01(ii)(b) above, allocated concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2 Certificates and the Class A-3 Certificates, pro rata based on entitlement pursuant rata, to this clause (b)(iii)cover such shortfall for such Distribution Date; (cv) any concurrently, as follows: (a) if the Group I 1 Interest Remittance Amount and is insufficient to pay the Class A-1 Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to Section 4.01(iii)(a) above, from the remaining Group II 2 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date; and (b) if the Group 2 Interest Remittance Amount remaining undistributed following is insufficient to pay the distributions Class A-2 and Class A-3 Certificates' applicable Interest Carry Forward Amount for such Distribution Date pursuant to clauses (aSection 4.01(iii)(b) above, concurrently, from the remaining Group 1 Interest Remittance Amount, to the Class A-2 Certificates and (b) above will be distributed:the Class A-3 Certificates, pro rata, to cover such shortfall for such Distribution Date; (ivi) first, to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iivii) second, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (iiiviii) third, to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (ix) to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (x) to the Class M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (xi) to the Class M-6 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iv) fourth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (dxii) the amount, if any, of the Group I Interest Remittance Amount and the Group II Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Abfc Asset-Backed Certificates Series 2003-Wmc1)