Middle. Tier REMIC 1 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 1 and shall issue several uncertificated interests, including the MT-R-1 Interest, which is hereby designated as the sole residual interest in Middle-Tier REMIC 1. Each remaining uncertificated interest in Middle-Tier REMIC 1 is hereby designated as a REMIC regular interest. Upper-Tier REMIC I shall hold the uncertificated REMIC regular interests issued by Middle-Tier REMIC 1. Each of the Aggregate Pool I Certificates (other than the Class A-R Certificate and the Exchangeable Certificates) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC I. Upper-Tier REMIC I shall also issue the Class A-R-1 Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC I. Lower-Tier REMIC 2 shall hold the assets of the Trust Fund related to Aggregate Pool II and shall issue several uncertificated interests, including the LT-R-2 Interest, which is hereby designated as the sole residual interest in Lower-Tier REMIC 2. Each remaining uncertificated interest in Lower-Tier REMIC 2 is hereby designated as a REMIC regular interest. Upper-Tier REMIC 2 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 2. Each of the Aggregate Pool II Certificates (other than the Class II-A-R Certificate) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC II. Upper-Tier REMIC II shall also issue the Class II-A-R Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC 2. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. The Lower-Tier REMIC 1 The Lower Tier Interests in Lower-Tier REMIC 1 shall have the class designations, initial principal amounts, interest rates and corresponding Pool, Subgroup or Class of Certificates as set forth in the following table: Class Designation Initial Principal Amount Certificate Interest Rate Corresponding Subgroup, Pool or Class of Certificates LT1-SG1-A (0.9% of SP Subgroup 1-1) (1) 5.00% 1-1 LT1-SG1-B (0.1% of SP Subgroup 1-1) (1) 5.00% 1-1 LT1-SG1-C (Excess of Subgroup 1-1) (1) 5.00% 1-1 LT1-SG2-A (0.9% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG2-B (0.1% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG3-A (0.9% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3-B (0.1% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3-C (Excess of Subgroup 1-3) (1) 6.50% 1-3 LT1-SG4-A (0.9% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-B (0.1% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-C (Excess of Subgroup 1-4) (1) (4) 1-4 LT1-SG5-A (0.9% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-B (0.1% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-C (Excess of Subgroup 2-1) (1) (4) 2-1 LT1-SG6-A (0.9% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-B (0.1% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-C (Excess of Subgroup 2-2) (1) 5.00% 2-2 LT1-SG7-A (0.9% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-B (0.1% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-C (Excess of Subgroup 2-3) (1) 5.50% 2-3 LT1-SG8-A (0.9% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-B (0.1% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-C (Excess of Subgroup 2-4) (1) (4) 2-4 LT1-A-P (3) (4) A-P LT1-A-X (2) (4) A-X LT1-P $100.00 0.00% N/A LT-R-1 (5) (5) N/A _______________
Appears in 1 contract
Samples: Pooling and Servicing Agreement (J.P. Morgan Mortgage Trust 2006-S3)
Middle. Tier REMIC 1 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 1 1, other than the LT1-R Interest, and shall issue several uncertificated interests. Each such interest, including other than the MTClass MT1-R-1 R Interest, which is hereby designated as a REMIC regular interest. The Class MT1-R Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 1. Each remaining uncertificated interest in Middle-Tier REMIC 1 is hereby designated as a REMIC regular interest. The Upper-Tier REMIC I shall hold the uncertificated REMIC regular interests issued by Middle-Tier REMIC 1, other than the Class MT1-R Interest. Each of the Aggregate Pool I Offered Certificates represent ownership of regular interests in the Upper-Tier REMIC. Each of the Offered Certificates (other than the Class A-R Certificate and the Exchangeable IO Certificates) and also represents the Uncertificated REMIC Interests right to receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls. In addition, each of the Offered Certificates represents the obligation to pay Class I Shortfalls. For federal income tax purposes, the Class X Certificates represent ownership of regular interests in the Upper-Tier REMIC I. and also represent the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the Offered Certificates to the extent payable from Monthly Excess Cashflow. The Class C-X and Class S-X Certificates shall not represent an interest in any REMIC formed hereby. The Class P Certificates represent ownership of regular interests in the Upper-Tier REMIC. The Class R Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC I as well as ownership of the Class LT1-R and Class MT1-R Interests. Pooling REMIC 1 Pooling REMIC 1 shall issue one uncertificated interest in respect of each Mortgage Loan held by the Trust on the Closing Date, each of which is hereby designated as a regular interest in Pooling REMIC 1 (the “Pooling REMIC 1 Regular Interests”). Pooling REMIC 1 shall also issue the Class ALT-R-1 R Certificate, which is hereby designated as shall represent the sole class of residual interest in UpperPooling REMIC 1. Each Pooling REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan. In the event a Qualifying Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualifying Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan. On each Distribution Date, the Trustee shall first pay or charge as an expense of Pooling REMIC 1 all expenses of the Trust Fund (other than any expenses with respect to the Swap Agreement) that are deducted in computing the Interest Remittance Amount for such Distribution Date. On each Distribution Date the Trustee shall distribute the aggregate Interest Remittance Amount (net of expenses described in the preceding paragraph) with respect to each of the Lower-Tier Interests in Pooling REMIC I. 1 based on the above-described interest rates. On each Distribution Date, the Trustee shall distribute the aggregate Principal Remittance Amount among the Pooling REMIC 1 Regular Interests in accordance with the amount of the Principal Remittance Amount attributable to the Mortgage Loan corresponding to each such Pooling REMIC 1 Regular Interest. All losses on the Mortgage Loans shall be allocated among the Pooling REMIC 1 Regular Interest in the same manner that principal distributions are allocated. On each Distribution Date, the Trustee shall distribute the Prepayment Premiums collected during the preceding Prepayment Period, in the case of Principal Prepayments in full, or during the related Collection Period, in the case of Principal Prepayments in part, to the Pooling REMIC 1 Regular Interest corresponding to the Mortgage Loan with respect to which such amounts were received. Lower-Tier REMIC 2 shall hold 1 The following table sets forth (or describes) the assets of the Trust Fund related to Aggregate Pool II designation, interest rate, and shall issue several uncertificated interests, including the LT-R-2 Interest, which is hereby designated as the sole residual initial principal balance for each interest in Lower-Tier REMIC 2. Each remaining uncertificated 1, each of which, other than the LT1-R Lower-Tier Interest) is hereby designated as a regular interest in Lower-Tier REMIC 2 is hereby designated as a REMIC regular interest. Upper-Tier REMIC 2 shall hold 1 (the uncertificated REMIC regular interests issued by Lower-Tier REMIC 2. Each of the Aggregate Pool II Certificates (other than the Class II-A-R Certificate) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC II. Upper-Tier REMIC II shall also issue the Class II-A-R Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC 2. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. The “Lower-Tier REMIC 1 The Lower Tier Interests in Lower-Tier REMIC 1 shall have the class designations, initial principal amounts, interest rates and corresponding Pool, Subgroup or Class of Certificates as set forth in the following table: Class Regular Interests): Designation Initial Principal Amount Certificate Balance Interest Rate Corresponding Subgroup, Pool or Class of Certificates LT1-SG1-A (0.9% of SP Subgroup 1-1) $ 25,837,637.69 (1) 5.00% 1-1 LT1-SG1-B F1 $ 18,059,931.50 (0.1% of SP Subgroup 1-12) (1) 5.00% 1-1 LT1-SG1-C V1 $ 18,059,931.50 (Excess of Subgroup 1-13) (1) 5.00% 1-1 LT1-SG2-A F2 $ 11,822,760.00 (0.9% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG2V2 $ 11,822,760.00 (3) LT1-B F3 $ 11,785,598.00 (0.1% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG3-A V3 $ 11,785,598.00 (0.9% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F4 $ 10,986,807.50 (2) LT1-B V4 $ 10,986,807.50 (0.1% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F5 $ 10,729,386.50 (2) LT1-C V5 $ 10,729,386.50 (Excess of Subgroup 1-3) (1) 6.50% 1-3 LT1-SG4F6 $ 10,648,632.50 (2) LT1-A V6 $ 10,648,632.50 (0.9% of SP Subgroup 13) LT1-F7 $ 9,992,087.00 (2) LT1-V7 $ 9,992,087.00 (3) LT1-F8 $ 9,486,742.00 (2) LT1-V8 $ 9,486,742.00 (3) LT1-F9 $ 9,220,032.00 (2) LT1-V9 $ 9,220,032.00 (3) LT1-F10 $ 8,824,157.00 (2) LT1-V10 $ 8,824,157.00 (3) LT1-F11 $ 26,497,239.00 (2) LT1-V11 $ 26,497,239.00 (3) LT1-F12 $ 8,942,041.50 (2) LT1-V12 $ 8,942,041.50 (3) LT1-F13 $ 8,567,915.00 (2) LT1-V13 $ 8,567,915.00 (3) LT1-F14 $ 8,209,433.50 (2) LT1-V14 $ 8,209,433.50 (3) LT1-F15 $ 7,865,941.00 (2) LT1-V15 $ 7,865,941.00 (3) LT1-F16 $ 7,587,094.50 (2) LT1-V16 $ 7,587,094.50 (3) LT1-F17 $ 7,219,353.00 (2) 3 Designation Initial Principal Balance Interest Rate LT1-V17 $ 7,219,353.00 (3) LT1-F18 $ 7,024,101.50 (2) LT1-V18 $ 7,024,101.50 (3) LT1-F19 $ 6,623,355.00 (2) LT1-V19 $ 6,623,355.00 (3) LT1-F20 $ 8,304,586.50 (2) LT1-V20 $ 8,304,586.50 (3) LT1-F21 $ 6,334,590.00 (2) LT1-V21 $ 6,334,590.00 (3) LT1-F22 $ 6,763,761.00 (2) LT1-V22 $ 6,763,761.00 (3) LT1-F23 $ 25,651,486.50 (2) LT1-V23 $ 25,651,486.50 (3) LT1-F24 $ 5,098,827.50 (2) LT1-V24 $ 5,098,827.50 (3) LT1-F25 $ 4,850,140.00 (2) LT1-V25 $ 4,850,140.00 (3) LT1-F26 $ 4,613,576.00 (2) LT1-V26 $ 4,613,576.00 (3) LT1-F27 $ 4,388,545.50 (2) LT1-V27 $ 4,388,545.50 (3) LT1-F28 $ 4,174,486.00 (2) LT1-V28 $ 4,174,486.00 (3) LT1-F29 $ 3,970,862.50 (2) LT1-V29 $ 3,970,862.50 (3) LT1-F30 $ 3,793,831.00 (2) LT1-V30 $ 3,793,831.00 (3) LT1-F31 $ 3,592,092.00 (2) LT1-V31 $ 3,592,092.00 (3) LT1-F32 $ 3,649,348.00 (2) LT1-V32 $ 3,649,348.00 (3) LT1-F33 $ 3,709,638.50 (2) LT1-V33 $ 3,709,638.50 (3) LT1-F34 $ 18,769,316.00 (2) LT1-V34 $ 18,769,316.00 (3) LT1-F35 $ 7,617,921.50 (2) LT1-V35 $ 7,617,921.50 (3) LT1-F36 $ 1,771,413.00 (2) LT1-V36 $ 1,771,413.00 (3) LT1-F37 $ 1,684,927.00 (2) LT1-V37 $ 1,684,927.00 (3) LT1-F38 $ 1,602,662.50 (2) LT1-V38 $ 1,602,662.50 (3) LT1-F39 $ 1,524,411.00 (2) LT1-V39 $ 1,524,411.00 (3) 4 Designation Initial Principal Balance Interest Rate LT1-F40 $ 1,449,979.00 (2) LT1-V40 $ 1,449,979.00 (3) LT1-F41 $ 1,379,178.50 (2) LT1-V41 $ 1,379,178.50 (3) LT1-F42 $ 1,311,833.50 (2) LT1-V42 $ 1,311,833.50 (3) LT1-F43 $ 1,247,774.50 (2) LT1-V43 $ 1,247,774.50 (3) LT1-F44 $ 1,186,842.00 (2) LT1-V44 $ 1,186,842.00 (3) LT1-F45 $ 1,128,883.50 (2) LT1-V45 $ 1,128,883.50 (3) LT1-F46 $ 1,073,753.50 (2) LT1-V46 $ 1,073,753.50 (3) LT1-F47 $ 1,021,314.00 (2) LT1-V47 $ 1,021,314.00 (3) LT1-F48 $ 971,434.00 (2) LT1-V48 $ 971,434.00 (3) LT1-F49 $ 923,989.00 (2) LT1-V49 $ 923,989.00 (3) LT1-F50 $ 878,859.50 (2) LT1-V50 $ 878,859.50 (3) LT1-F51 $ 835,933.00 (2) LT1-V51 $ 835,933.00 (3) LT1-F52 $ 809,973.50 (2) LT1-V52 $ 809,973.50 (3) LT1-F53 $ 755,540.50 (2) LT1-V53 $ 755,540.50 (3) LT1-F54 $ 718,634.00 (2) LT1-V54 $ 718,634.00 (3) LT1-F55 $ 780,448.50 (2) LT1-V55 $ 780,448.50 (3) LT1-F56 $ 722,771.00 (2) LT1-V56 $ 722,771.00 (3) LT1-F57 $ 2,853,158.50 (2) LT1-V57 $ 2,853,158.50 (3) LT1-F58 $ 5,572,711.00 (2) LT1-V58 $ 5,572,711.00 (3) LT1-F59 $ 4,052,432.00 (2) LT1-V59 $ 4,052,432.00 (3) LT1-R (4) (1) (4) 1-4 LT1-SG4-B (0.1% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-C (Excess of Subgroup 1-4) (1) (4) 1-4 LT1-SG5-A (0.9% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-B (0.1% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-C (Excess of Subgroup 2-1) (1) (4) 2-1 LT1-SG6-A (0.9% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-B (0.1% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-C (Excess of Subgroup 2-2) (1) 5.00% 2-2 LT1-SG7-A (0.9% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-B (0.1% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-C (Excess of Subgroup 2-3) (1) 5.50% 2-3 LT1-SG8-A (0.9% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-B (0.1% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-C (Excess of Subgroup 2-4) (1) (4) 2-4 LT1-A-P (3) (4) A-P LT1-A-X (2) (4) A-X LT1-P $100.00 0.00% N/A LT-R-1 (5) (5) N/A _______________)
Appears in 1 contract
Middle. Tier REMIC 1 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 1 1, other than the LT1-R Interest, and shall issue several uncertificated interests. Each such interest, including other than the MTClass MT1-R-1 R Interest, which is hereby designated as a REMIC regular interest. The Class MT1-R Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 1. Each remaining uncertificated interest in Middle-Tier REMIC 1 2 shall hold the uncertificated interests issued by Middle-Tier REMIC 1, other than the MT1-R Interest, and shall issue several uncertificated interests. Each such interest, other than the Class MT2-R Interest, is hereby designated as a REMIC regular interest. Upper-Tier REMIC I shall hold the uncertificated REMIC regular interests issued by Middle-Tier REMIC 1. Each of the Aggregate Pool I Certificates (other than the The Class AMT2-R Certificate and the Exchangeable Certificates) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC I. Upper-Tier REMIC I shall also issue the Class A-R-1 Certificate, which Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 2. The Upper-Tier REMIC I. Lowershall hold the uncertificated interests issued by Middle-Tier REMIC 2 shall hold 2, other than the assets Class MT2-R Interest. Each of the Trust Fund related Offered Certificates represents ownership of regular interests in the Upper-Tier REMIC. Each of the Offered Certificates (other than the Class A-IO Certificates) also represents the right to Aggregate Pool II receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls. In addition, each of the Offered Certificates represents the obligation to pay Class I Shortfalls. For federal income tax purposes, the Class XS Component of the Class X Certificates represents ownership of regular interests in the Upper-Tier REMIC and also represents the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the LIBOR Certificates to the extent payable from Monthly Excess Cashflow. The Class CX and Class SX Components of the Class 1-X Certificates shall not represent an interest in any REMIC formed hereby. The Class P Certificates represent ownership of regular interests in the Upper-Tier REMIC. The Class R Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC as well as ownership of the Class LT1-R, Class MT1-R, and Class MT2-R Interests. Pooling REMIC 1 Pooling REMIC 1 shall issue several one uncertificated interestsinterest in respect of each Mortgage Loan held by the Trust on the Closing Date, including the LT-R-2 Interest, each of which is hereby designated as a regular interest in Pooling REMIC 1 (the “Pooling REMIC 1 Regular Interests”). Pooling REMIC 1 shall also issue the Class LT-R Certificate, which shall represent the sole class of residual interest in Pooling REMIC 1. Each Pooling REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan. In the event a Qualifying Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualifying Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan. On each Distribution Date, the Trustee shall first pay or charge as an expense of Pooling REMIC 1 all expenses of the Trust Fund (other than any expenses with respect to the Swap Agreement) that are deducted in computing the Interest Remittance Amount for such Distribution Date. On each Distribution Date the Trustee shall distribute the aggregate Interest Remittance Amount (net of expenses described in the preceding paragraph) with respect to each of the Lower-Tier Interests in Pooling REMIC 1 based on the above-described interest rates. On each Distribution Date, the Trustee shall distribute the aggregate Principal Remittance Amount among the Pooling REMIC 1 Regular Interests in accordance with the amount of the Principal Remittance Amount attributable to the Mortgage Loan corresponding to each such Pooling REMIC 1 Regular Interest. All losses on the Mortgage Loans shall be allocated among the Pooling REMIC 1 Regular Interest in the same manner that principal distributions are allocated. On each Distribution Date, the Trustee shall distribute the Prepayment Premiums collected during the preceding Prepayment Period, in the case of Principal Prepayments in full, or during the related Collection Period, in the case of Principal Prepayments in part, to the Pooling REMIC 1 Regular Interest corresponding to the Mortgage Loan with respect to which such amounts were received. Lower-Tier REMIC 1 The following table sets forth (or describes) the designation, interest rate, and initial principal balance for each interest in Lower-Tier REMIC 2. Each remaining uncertificated 1, each of which, other than the LT1-R Lower-Tier Interest) is hereby designated as a regular interest in Lower-Tier REMIC 2 is hereby designated as a REMIC regular interest. Upper-Tier REMIC 2 shall hold 1 (the uncertificated REMIC regular interests issued by Lower-Tier REMIC 2. Each of the Aggregate Pool II Certificates (other than the Class II-A-R Certificate) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC II. Upper-Tier REMIC II shall also issue the Class II-A-R Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC 2. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. The “Lower-Tier REMIC 1 The Lower Tier Interests in Lower-Tier REMIC 1 shall have the class designations, initial principal amounts, interest rates and corresponding Pool, Subgroup or Class of Certificates as set forth in the following table: Class Regular Interests): Designation Initial Principal Amount Certificate Balance Interest Rate Corresponding Subgroup, Pool or Class of Certificates LT1-SG1-A (0.9% of SP Subgroup 1-15) (1) 5.00% 1-1 LT1-SG1-B F1 $ 13,351,862.50 (0.1% of SP Subgroup 1-12) (1) 5.00% 1-1 LT1-SG1-C V1 $ 13,351,862.50 (Excess of Subgroup 1-13) (1) 5.00% 1-1 LT1-SG2-A F2 $ 12,879,731.00 (0.9% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG2V2 $ 12,879,731.00 (3) LT1-B F3 $ 12,423,947.50 (0.1% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG3-A V3 $ 12,423,947.50 (0.9% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F4 $ 11,984,520.00 (2) LT1-B V4 $ 11,984,520.00 (0.1% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F5 $ 11,560,656.00 (2) LT1-C V5 $ 11,560,656.00 (Excess of Subgroup 1-3) (1) 6.50% 1-3 LT1-SG4F6 $ 11,151,773.50 (2) LT1-A V6 $ 11,151,773.50 (0.9% of SP Subgroup 13) LT1-F7 $ 10,757,332.50 (2) LT1-V7 $ 10,757,332.50 (3) LT1-F8 $ 10,376,660.50 (2) LT1-V8 $ 10,376,660.50 (3) LT1-F9 $ 10,009,634.50 (2) LT1-V9 $ 10,009,634.50 (3) LT1-F10 $ 9,655,560.50 (2) LT1-V10 $ 9,655,560.50 (3) LT1-F11 $ 28,834,693.00 (2) LT1-V11 $ 28,834,693.00 (3) LT1-F12 $ 9,795,592.50 (2) LT1-V12 $ 9,795,592.50 (3) LT1-F13 $ 9,386,220.00 (2) LT1-V13 $ 9,386,220.00 (3) LT1-F14 $ 8,993,959.50 (2) Designation Initial Principal Balance Interest Rate LT1-V14 $ 8,993,959.50 (3) LT1-F15 $ 8,617,998.50 (2) LT1-V15 $ 8,617,998.50 (3) LT1-F16 $ 8,257,810.00 (2) LT1-V16 $ 8,257,810.00 (3) LT1-F17 $ 7,912,656.50 (2) LT1-V17 $ 7,912,656.50 (3) LT1-F18 $ 7,581,886.00 (2) LT1-V18 $ 7,581,886.00 (3) LT1-F19 $ 7,264,991.00 (2) LT1-V19 $ 7,264,991.00 (3) LT1-F20 $ 6,961,321.00 (2) LT1-V20 $ 6,961,321.00 (3) LT1-F21 $ 6,670,350.00 (2) LT1-V21 $ 6,670,350.00 (3) LT1-F22 $ 6,391,535.00 (2) LT1-V22 $ 6,391,535.00 (3) LT1-F23 $ 28,531,694.50 (2) LT1-V23 $ 28,531,694.50 (3) LT1-F24 $ 5,747,094.00 (2) LT1-V24 $ 5,747,094.00 (3) LT1-F25 $ 5,467,044.00 (2) LT1-V25 $ 5,467,044.00 (3) LT1-F26 $ 5,200,629.00 (2) LT1-V26 $ 5,200,629.00 (3) LT1-F27 $ 4,947,196.50 (2) LT1-V27 $ 4,947,196.50 (3) LT1-F28 $ 4,706,110.00 (2) LT1-V28 $ 4,706,110.00 (3) LT1-F29 $ 4,476,766.00 (2) LT1-V29 $ 4,476,766.00 (3) LT1-F30 $ 4,258,513.50 (2) LT1-V30 $ 4,258,513.50 (3) LT1-F31 $ 4,050,971.50 (2) LT1-V31 $ 4,050,971.50 (3) LT1-F32 $ 3,853,545.50 (2) LT1-V32 $ 3,853,545.50 (3) LT1-F33 $ 3,665,737.00 (2) LT1-V33 $ 3,665,737.00 (3) LT1-F34 $ 3,487,078.00 (2) LT1-V34 $ 3,487,078.00 (3) LT1-F35 $ 3,317,122.50 (2) LT1-V35 $ 3,317,122.50 (3) LT1-F36 $ 3,155,436.50 (2) LT1-V36 $ 3,155,436.50 (3) Designation Initial Principal Balance Interest Rate LT1-F37 $ 3,001,691.00 (2) LT1-V37 $ 3,001,691.00 (3) LT1-F38 $ 2,855,380.00 (2) LT1-V38 $ 2,855,380.00 (3) LT1-F39 $ 2,716,221.00 (2) LT1-V39 $ 2,716,221.00 (3) LT1-F40 $ 2,583,818.00 (2) LT1-V40 $ 2,583,818.00 (3) LT1-F41 $ 2,457,866.50 (2) LT1-V41 $ 2,457,866.50 (3) LT1-F42 $ 2,338,051.00 (2) LT1-V42 $ 2,338,051.00 (3) LT1-F43 $ 2,224,073.50 (2) LT1-V43 $ 2,224,073.50 (3) LT1-F44 $ 2,115,650.50 (2) LT1-V44 $ 2,115,650.50 (3) LT1-F45 $ 2,012,509.50 (2) LT1-V45 $ 2,012,509.50 (3) LT1-F46 $ 1,914,395.00 (2) LT1-V46 $ 1,914,395.00 (3) LT1-F47 $ 1,821,061.50 (2) LT1-V47 $ 1,821,061.50 (3) LT1-F48 $ 1,732,275.50 (2) LT1-V48 $ 1,732,275.50 (3) LT1-F49 $ 1,647,816.50 (2) LT1-V49 $ 1,647,816.50 (3) LT1-F50 $ 1,567,473.00 (2) LT1-V50 $ 1,567,473.00 (3) LT1-F51 $ 1,491,045.50 (2) LT1-V51 $ 1,491,045.50 (3) LT1-F52 $ 1,418,342.00 (2) LT1-V52 $ 1,418,342.00 (3) LT1-F53 $ 1,349,223.50 (2) LT1-V53 $ 1,349,223.50 (3) LT1-F54 $ 1,284,160.00 (2) LT1-V54 $ 1,284,160.00 (3) LT1-F55 $ 1,221,533.50 (2) LT1-V55 $ 1,221,533.50 (3) LT1-F56 $ 1,161,937.00 (2) LT1-V56 $ 1,161,937.00 (3) LT1-F57 $ 1,105,256.50 (2) LT1-V57 $ 1,105,256.50 (3) LT1-F58 $ 1,051,411.50 (2) LT1-V58 $ 1,051,411.50 (3) LT1-F59 $ 20,477,586.50 (2) LT1-V59 $ 20,477,586.50 (3) LT1-R (4) (1) (4) 1-4 LT1-SG4-B (0.1% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-C (Excess of Subgroup 1-4) (1) (4) 1-4 LT1-SG5-A (0.9% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-B (0.1% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-C (Excess of Subgroup 2-1) (1) (4) 2-1 LT1-SG6-A (0.9% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-B (0.1% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-C (Excess of Subgroup 2-2) (1) 5.00% 2-2 LT1-SG7-A (0.9% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-B (0.1% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-C (Excess of Subgroup 2-3) (1) 5.50% 2-3 LT1-SG8-A (0.9% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-B (0.1% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-C (Excess of Subgroup 2-4) (1) (4) 2-4 LT1-A-P (3) (4) A-P LT1-A-X (2) (4) A-X LT1-P $100.00 0.00% N/A LT-R-1 (5) (5) N/A ___________________________
Appears in 1 contract
Middle. Tier REMIC 1 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 1 1, other than the LT1-R Interest, and shall issue several uncertificated interests. Each such interest, including other than the MTClass MT1-R-1 R Interest, which is hereby designated as a REMIC regular interest. The Class MT1-R Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 1. Each remaining uncertificated interest in MiddleUpper-Tier REMIC 1 is hereby designated as a REMIC regular interest. Upper-Tier REMIC I shall hold the uncertificated REMIC regular interests issued by Middle-Tier REMIC 1, other than the Class MT1-R Interest. Each of the Aggregate Pool I Offered Certificates (other than the Class A-R Certificate and the Exchangeable Certificates) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC I. Upper-Tier REMIC I shall also issue the Class A-R-1 Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC I. Lower-Tier REMIC 2 shall hold the assets of the Trust Fund related to Aggregate Pool II and shall issue several uncertificated interests, including the LT-R-2 Interest, which is hereby designated as the sole residual interest in Lower-Tier REMIC 2. Each remaining uncertificated interest in Lower-Tier REMIC 2 is hereby designated as a REMIC regular interest. Upper-Tier REMIC 2 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 21. Each of the Aggregate Pool II Offered Certificates also represent (other than i) the right to receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls and (ii) the obligation to pay Class I Shortfalls. For federal income tax purposes, the Class II-A-R Certificate) and the Uncertificated REMIC Interests X Certificates represent ownership of regular interests in Upper-Tier REMIC II1 and also represent the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the Offered Certificates to the extent payable from Monthly Excess Cashflow. The Class C-X and Class S-X Certificates shall not represent an interest in any REMIC formed hereby. The Class P Certificates represent ownership of regular interests in Upper-Tier REMIC II shall also issue the 1. The Class II-A-R Certificate, which is hereby designated as Certificate represents ownership of the sole class of residual interest in Upper-Tier REMIC 21 as well as ownership of the LT1-R and Class MT1-R Interests. The latest possible maturity date Pooling REMIC 1 Pooling REMIC 1 shall issue one uncertificated interest in respect of all each Mortgage Loan held by the Trust on the Closing Date, each of which is hereby designated as a regular interest in Pooling REMIC regular interests created 1 (the “Pooling REMIC 1 Regular Interests”). Pooling REMIC 1 shall also issue the Class LT-R Certificate, which shall represent the sole class of residual interest in this Agreement Pooling REMIC 1. Each Pooling REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan. In the event a Qualified Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualified Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Latest Possible Maturity Net Mortgage Rate of the Original Mortgage Loan. On each Distribution Date, the Trustee shall first pay or charge as an expense of Pooling REMIC 1 all expenses of the Trust Fund (other than any expenses with respect to the Swap Agreement) that are deducted in computing the Interest Remittance Amount for such Distribution Date. The On each Distribution Date the Trustee shall distribute the aggregate Interest Remittance Amount (net of expenses described in the preceding paragraph) with respect to each of the Lower-Tier Interests in Pooling REMIC 1 based on the above-described interest rates. On each Distribution Date, the Trustee shall distribute the aggregate Principal Remittance Amount among the Pooling REMIC 1 Regular Interests in accordance with the amount of the Principal Remittance Amount attributable to the Mortgage Loan corresponding to each such Pooling REMIC 1 Regular Interest. All losses on the Mortgage Loans shall be allocated among the Pooling REMIC 1 Regular Interest in the same manner that principal distributions are allocated. On each Distribution Date, the Trustee shall distribute the Prepayment Premiums collected during the preceding Prepayment Period, in the case of Principal Prepayments in full, or during the related Collection Period, in the case of Principal Prepayments in part, to the Pooling REMIC 1 Regular Interest corresponding to the Mortgage Loan with respect to which such amounts were received. Lower-Tier REMIC 1 The Lower following table sets forth (or describes) the designation, interest rate, and initial principal balance for each interest in Lower-Tier Interests REMIC 1, each of which, other than the LT1-R Lower-Tier Interest) is hereby designated as a regular interest in Lower-Tier REMIC 1 shall have (the class designations, initial principal amounts, interest rates and corresponding Pool, Subgroup or Class of Certificates as set forth in the following table: Class “Lower-Tier REMIC 1 Regular Interests): Designation Initial Principal Amount Certificate Balance Interest Rate Corresponding Subgroup, Pool or Class of Certificates LT1-SG1-A (0.9% of SP Subgroup 1-1) $ 31,175,089.01 (1) 5.00% 1-1 LT1-SG1-B F1 $ 15,034,911.50 (0.1% of SP Subgroup 1-12) (1) 5.00% 1-1 LT1-SG1-C V1 $ 15,034,911.50 (Excess of Subgroup 1-13) (1) 5.00% 1-1 LT1-SG2-A F2 $ 14,501,577.50 (0.9% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG2V2 $ 14,501,577.50 (3) LT1-B F3 $ 13,987,143.00 (0.1% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG3-A V3 $ 13,987,143.00 (0.9% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F4 $ 13,490,938.50 (2) LT1-B V4 $ 13,490,938.50 (0.1% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F5 $ 13,012,318.50 (2) LT1-C V5 $ 13,012,318.50 (Excess of Subgroup 1-3) (1) 6.50% 1-3 LT1-SG4F6 $ 12,550,661.50 (2) LT1-A V6 $ 12,550,661.50 (0.9% of SP Subgroup 13) LT1-F7 $ 12,105,365.00 (2) LT1-V7 $ 12,105,365.00 (3) LT1-F8 $ 11,675,852.00 (2) LT1-V8 $ 11,675,852.00 (3) LT1-F9 $ 11,261,561.00 (2) LT1-V9 $ 11,261,561.00 (3) LT1-F10 $ 10,861,954.50 (2) LT1-V10 $ 10,861,954.50 (3) LT1-F11 $ 32,418,240.50 (2) LT1-V11 $ 32,418,240.50 (3) LT1-F12 $ 11,105,260.50 (2) LT1-V12 $ 11,105,260.50 (3) LT1-F13 $ 10,542,133.50 (2) LT1-V13 $ 10,542,133.50 (3) LT1-F14 $ 10,100,316.00 (2) LT1-V14 $ 10,100,316.00 (3) LT1-F15 $ 9,676,999.50 (2) LT1-V15 $ 9,676,999.50 (3) LT1-F16 $ 9,531,871.00 (2) LT1-V16 $ 9,531,871.00 (3) LT1-F17 $ 9,868,293.00 (2) LT1-V17 $ 9,868,293.00 (3) LT1-F18 $ 8,458,352.00 (2) LT1-V18 $ 8,458,352.00 (3) Designation Initial Principal Balance Interest Rate LT1-F19 $ 8,103,795.50 (2) LT1-V19 $ 8,103,795.50 (3) LT1-F20 $ 7,764,087.50 (2) LT1-V20 $ 7,764,087.50 (3) LT1-F21 $ 7,845,889.00 (2) LT1-V21 $ 7,845,889.00 (3) LT1-F22 $ 8,068,012.00 (2) LT1-V22 $ 8,068,012.00 (3) LT1-F23 $ 31,797,901.00 (2) LT1-V23 $ 31,797,901.00 (3) LT1-F24 $ 6,333,979.50 (2) LT1-V24 $ 6,333,979.50 (3) LT1-F25 $ 6,092,174.50 (2) LT1-V25 $ 6,092,174.50 (3) LT1-F26 $ 5,793,854.00 (2) LT1-V26 $ 5,793,854.00 (3) LT1-F27 $ 5,635,019.50 (2) LT1-V27 $ 5,635,019.50 (3) LT1-F28 $ 5,168,444.00 (2) LT1-V28 $ 5,168,444.00 (3) LT1-F29 $ 4,915,891.50 (2) LT1-V29 $ 4,915,891.50 (3) LT1-F30 $ 4,690,358.50 (2) LT1-V30 $ 4,690,358.50 (3) LT1-F31 $ 4,446,452.50 (2) LT1-V31 $ 4,446,452.50 (3) LT1-F32 $ 4,254,269.50 (2) LT1-V32 $ 4,254,269.50 (3) LT1-F33 $ 4,383,278.00 (2) LT1-V33 $ 4,383,278.00 (3) LT1-F34 $ 19,717,206.50 (2) LT1-V34 $ 19,717,206.50 (3) LT1-F35 $ 7,246,769.00 (2) LT1-V35 $ 7,246,769.00 (3) LT1-F36 $ 2,491,758.00 (2) LT1-V36 $ 2,491,758.00 (3) LT1-F37 $ 2,369,817.50 (2) LT1-V37 $ 2,369,817.50 (3) LT1-F38 $ 2,253,839.50 (2) LT1-V38 $ 2,253,839.50 (3) LT1-F39 $ 2,143,532.50 (2) LT1-V39 $ 2,143,532.50 (3) LT1-F40 $ 2,038,618.50 (2) LT1-V40 $ 2,038,618.50 (3) LT1-F41 $ 1,938,836.00 (2) Designation Initial Principal Balance Interest Rate LT1-V41 $ 1,938,836.00 (3) LT1-F42 $ 1,843,932.00 (2) LT1-V42 $ 1,843,932.00 (3) LT1-F43 $ 1,753,670.00 (2) LT1-V43 $ 1,753,670.00 (3) LT1-F44 $ 1,667,822.00 (2) LT1-V44 $ 1,667,822.00 (3) LT1-F45 $ 1,586,173.00 (2) LT1-V45 $ 1,586,173.00 (3) LT1-F46 $ 1,508,517.00 (2) LT1-V46 $ 1,508,517.00 (3) LT1-F47 $ 1,434,660.00 (2) LT1-V47 $ 1,434,660.00 (3) LT1-F48 $ 1,364,415.00 (2) LT1-V48 $ 1,364,415.00 (3) LT1-F49 $ 1,297,606.00 (2) LT1-V49 $ 1,297,606.00 (3) LT1-F50 $ 1,250,976.00 (2) LT1-V50 $ 1,250,976.00 (3) LT1-F51 $ 1,180,367.00 (2) LT1-V51 $ 1,180,367.00 (3) LT1-F52 $ 1,114,990.50 (2) LT1-V52 $ 1,114,990.50 (3) LT1-F53 $ 1,110,792.50 (2) LT1-V53 $ 1,110,792.50 (3) LT1-F54 $ 1,035,556.50 (2) LT1-V54 $ 1,035,556.50 (3) LT1-F55 $ 1,090,063.50 (2) LT1-V55 $ 1,090,063.50 (3) LT1-F56 $ 1,923,517.50 (2) LT1-V56 $ 1,923,517.50 (3) LT1-F57 $ 1,976,414.50 (2) LT1-V57 $ 1,976,414.50 (3) LT1-F58 $ 7,302,834.00 (2) LT1-V58 $ 7,302,834.00 (3) LT1-F59 $ 7,186,948.50 (2) LT1-V59 $ 7,186,948.50 (3) LT1-R (4) (1) (4) 1-4 LT1-SG4-B (0.1% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-C (Excess of Subgroup 1-4) (1) (4) 1-4 LT1-SG5-A (0.9% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-B (0.1% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-C (Excess of Subgroup 2-1) (1) (4) 2-1 LT1-SG6-A (0.9% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-B (0.1% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-C (Excess of Subgroup 2-2) (1) 5.00% 2-2 LT1-SG7-A (0.9% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-B (0.1% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-C (Excess of Subgroup 2-3) (1) 5.50% 2-3 LT1-SG8-A (0.9% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-B (0.1% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-C (Excess of Subgroup 2-4) (1) (4) 2-4 LT1-A-P (3) (4) A-P LT1-A-X (2) (4) A-X LT1-P $100.00 0.00% N/A LT-R-1 (5) (5) N/A _______________)
Appears in 1 contract
Middle. Tier REMIC 1 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 1 1, other than the LT1-R Interest, and shall issue several uncertificated interests. Each such interest, including other than the MTClass MT1-R-1 R Interest, which is hereby designated as a REMIC regular interest. The Class MT1-R Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 1. Each remaining uncertificated interest in Middle-Tier REMIC 1 2 shall hold the uncertificated interests issued by Middle-Tier REMIC 1, other than the MT1-R Interest, and shall issue several uncertificated interests. Each such interest, other than the Class MT2-R Interest, is hereby designated as a REMIC regular interest. Upper-Tier REMIC I shall hold the uncertificated REMIC regular interests issued by Middle-Tier REMIC 1. Each of the Aggregate Pool I Certificates (other than the The Class AMT2-R Certificate and the Exchangeable Certificates) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC I. Upper-Tier REMIC I shall also issue the Class A-R-1 Certificate, which Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 2. The Upper-Tier REMIC I. Lowershall hold the uncertificated interests issued by Middle-Tier REMIC 2 shall hold 2, other than the assets Class MT2-R Interest. Each of the Trust Fund related Offered Certificates represent ownership of regular interests in the Upper-Tier REMIC. Each of the Offered Certificates (other than the Class A-IO Certificates) also represents the right to Aggregate Pool II receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls. In addition, each of the Offered Certificates represents the obligation to pay Class I Shortfalls. For federal income tax purposes, the Class XS Component of the Class X Certificates represent ownership of regular interests in the Upper-Tier REMIC and also represent the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the Offered Certificates to the extent payable from Monthly Excess Cashflow. The Class CX and Class SX Components of the Class 1-X Certificates shall not represent an interest in any REMIC formed hereby. The Class P Certificates represent ownership of regular interests in the Upper-Tier REMIC. The Class R Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC as well as ownership of the Class LT1-R, Class MT1-R, and Class MT2-R Interests. Pooling REMIC 1 Pooling REMIC 1 shall issue several one uncertificated interestsinterest in respect of each Mortgage Loan held by the Trust on the Closing Date, including the LT-R-2 Interest, each of which is hereby designated as a regular interest in Pooling REMIC 1 (the “Pooling REMIC 1 Regular Interests”). Pooling REMIC 1 shall also issue the Class LT-R Certificate, which shall represent the sole class of residual interest in Pooling REMIC 1. Each Pooling REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan. In the event a Qualifying Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualifying Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan. On each Distribution Date, the Trustee shall first pay or charge as an expense of Pooling REMIC 1 all expenses of the Trust Fund (other than any expenses with respect to the Swap Agreement) that are deducted in computing the Interest Remittance Amount for such Distribution Date. On each Distribution Date the Trustee shall distribute the aggregate Interest Remittance Amount (net of expenses described in the preceding paragraph) with respect to each of the Lower-Tier Interests in Pooling REMIC 1 based on the above-described interest rates. On each Distribution Date, the Trustee shall distribute the aggregate Principal Remittance Amount among the Pooling REMIC 1 Regular Interests in accordance with the amount of the Principal Remittance Amount attributable to the Mortgage Loan corresponding to each such Pooling REMIC 1 Regular Interest. All losses on the Mortgage Loans shall be allocated among the Pooling REMIC 1 Regular Interest in the same manner that principal distributions are allocated. On each Distribution Date, the Trustee shall distribute the Prepayment Premiums collected during the preceding Prepayment Period, in the case of Principal Prepayments in full, or during the related Collection Period, in the case of Principal Prepayments in part, to the Pooling REMIC 1 Regular Interest corresponding to the Mortgage Loan with respect to which such amounts were received. Lower-Tier REMIC 1 The following table sets forth (or describes) the designation, interest rate, and initial principal balance for each interest in Lower-Tier REMIC 2. Each remaining uncertificated 1, each of which, other than the LT1-R Lower-Tier Interest) is hereby designated as a regular interest in Lower-Tier REMIC 2 is hereby designated as a REMIC regular interest. Upper-Tier REMIC 2 shall hold 1 (the uncertificated REMIC regular interests issued by Lower-Tier REMIC 2. Each of the Aggregate Pool II Certificates (other than the Class II-A-R Certificate) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC II. Upper-Tier REMIC II shall also issue the Class II-A-R Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC 2. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. The “Lower-Tier REMIC 1 The Lower Tier Interests in Lower-Tier REMIC 1 shall have the class designations, initial principal amounts, interest rates and corresponding Pool, Subgroup or Class of Certificates as set forth in the following table: Class Regular Interests): Designation Initial Principal Amount Certificate Balance Interest Rate Corresponding Subgroup, Pool or Class of Certificates LT1-SG1-A (0.9% of SP Subgroup 1-1) $ 118,933,454.08 (1) 5.00% 1-1 LT1-SG1-B F1 $ 17,793,164.50 (0.1% of SP Subgroup 1-12) (1) 5.00% 1-1 LT1-SG1-C (Excess of Subgroup 1-1) (1) 5.00% 1-1 LT1-SG2-A (0.9% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG2-B (0.1% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG3-A (0.9% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3-B (0.1% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3-C (Excess of Subgroup 1-3) (1) 6.50% 1-3 LT1-SG4-A (0.9% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-B (0.1% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-C (Excess of Subgroup 1-4) (1) (4) 1-4 LT1-SG5-A (0.9% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-B (0.1% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-C (Excess of Subgroup 2-1) (1) (4) 2-1 LT1-SG6-A (0.9% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-B (0.1% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-C (Excess of Subgroup 2-2) (1) 5.00% 2-2 LT1-SG7-A (0.9% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-B (0.1% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-C (Excess of Subgroup 2-3) (1) 5.50% 2-3 LT1-SG8-A (0.9% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-B (0.1% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-C (Excess of Subgroup 2-4) (1) (4) 2-4 LT1-A-P V1 $ 17,793,164.50 (3) (4) A-P LT1-A-X F2 $ 17,163,577.50 (2) (4) A-X LT1-P $100.00 0.00% N/A LTV2 $ 17,163,577.50 (3) LT1-R-1 F3 $ 16,556,252.00 (52) LT1-V3 $ 16,556,252.00 (53) N/A _______________LT1-F4 $ 15,970,402.00 (2) LT1-V4 $ 15,970,402.00 (3) LT1-F5 $ 15,405,268.00 (2) LT1-V5 $ 15,405,268.00 (3) LT1-F6 $ 14,860,118.00 (2) LT1-V6 $ 14,860,118.00 (3) LT1-F7 $ 14,334,245.50 (2) LT1-V7 $ 14,334,245.50 (3) LT1-F8 $ 13,826,969.50 (2) LT1-V8 $ 13,826,969.50 (3) LT1-F9 $ 13,337,632.50 (2) LT1-V9 $ 13,337,632.50 (3) LT1-F10 $ 12,865,600.50 (2) LT1-V10 $ 12,865,600.50 (3) LT1-F11 $ 38,403,045.00 (2) LT1-V11 $ 38,403,045.00 (3) LT1-F12 $ 13,050,326.50 (2) LT1-V12 $ 13,050,326.50 (3) LT1-F13 $ 12,504,668.50 (2) LT1-V13 $ 12,504,668.50 (3) LT1-F14 $ 11,981,813.00 (2) Designation Initial Principal Balance Interest Rate LT1-V14 $ 11,981,813.00 (3) LT1-F15 $ 11,480,807.50 (2) LT1-V15 $ 11,480,807.50 (3) LT1-F16 $ 11,000,739.50 (2) LT1-V16 $ 11,000,739.50 (3) LT1-F17 $ 10,540,734.00 (2) LT1-V17 $ 10,540,734.00 (3) LT1-F18 $ 10,099,952.50 (2) LT1-V18 $ 10,099,952.50 (3) LT1-F19 $ 9,677,593.50 (2) LT1-V19 $ 9,677,593.50 (3) LT1-F20 $ 9,375,358.50 (2) LT1-V20 $ 9,375,358.50 (3) LT1-F21 $ 8,880,737.00 (2) LT1-V21 $ 8,880,737.00 (3) LT1-F22 $ 8,782,518.50 (2) LT1-V22 $ 8,782,518.50 (3) LT1-F23 $ 38,030,332.00 (2) LT1-V23 $ 38,030,332.00 (3) LT1-F24 $ 7,633,839.50 (2) LT1-V24 $ 7,633,839.50 (3) LT1-F25 $ 7,261,685.50 (2) LT1-V25 $ 7,261,685.50 (3) LT1-F26 $ 6,907,666.50 (2) LT1-V26 $ 6,907,666.50 (3) LT1-F27 $ 6,570,898.50 (2) LT1-V27 $ 6,570,898.50 (3) LT1-F28 $ 6,250,541.50 (2) LT1-V28 $ 6,250,541.50 (3) LT1-F29 $ 5,945,796.00 (2) LT1-V29 $ 5,945,796.00 (3) LT1-F30 $ 5,676,988.00 (2) LT1-V30 $ 5,676,988.00 (3) LT1-F31 $ 5,379,090.00 (2) LT1-V31 $ 5,379,090.00 (3) LT1-F32 $ 5,116,814.00 (2) LT1-V32 $ 5,116,814.00 (3) LT1-F33 $ 5,472,090.00 (2) LT1-V33 $ 5,472,090.00 (3) LT1-F34 $ 4,923,138.00 (2) LT1-V34 $ 4,923,138.00 (3) LT1-F35 $ 4,390,240.00 (2) LT1-V35 $ 4,390,240.00 (3) LT1-F36 $ 4,146,302.50 (2) LT1-V36 $ 4,146,302.50 (3) Designation Initial Principal Balance Interest Rate LT1-F37 $ 3,944,111.50 (2) LT1-V37 $ 3,944,111.50 (3) LT1-F38 $ 3,751,775.50 (2) LT1-V38 $ 3,751,775.50 (3) LT1-F39 $ 3,568,814.50 (2) LT1-V39 $ 3,568,814.50 (3) LT1-F40 $ 3,394,770.50 (2) LT1-V40 $ 3,394,770.50 (3) LT1-F41 $ 3,229,211.00 (2) LT1-V41 $ 3,229,211.00 (3) LT1-F42 $ 3,071,721.50 (2) LT1-V42 $ 3,071,721.50 (3) LT1-F43 $ 2,921,908.00 (2) LT1-V43 $ 2,921,908.00 (3) LT1-F44 $ 2,779,398.50 (2) LT1-V44 $ 2,779,398.50 (3) LT1-F45 $ 2,643,836.00 (2) LT1-V45 $ 2,643,836.00 (3) LT1-F46 $ 2,514,881.00 (2) LT1-V46 $ 2,514,881.00 (3) LT1-F47 $ 2,392,213.50 (2) LT1-V47 $ 2,392,213.50 (3) LT1-F48 $ 2,275,526.00 (2) LT1-V48 $ 2,275,526.00 (3) LT1-F49 $ 2,164,527.00 (2) LT1-V49 $ 2,164,527.00 (3) LT1-F50 $ 2,058,940.00 (2) LT1-V50 $ 2,058,940.00 (3) LT1-F51 $ 1,958,500.50 (2) LT1-V51 $ 1,958,500.50 (3) LT1-F52 $ 1,862,958.00 (2) LT1-V52 $ 1,862,958.00 (3) LT1-F53 $ 1,776,773.00 (2) LT1-V53 $ 1,776,773.00 (3) LT1-F54 $ 1,809,064.00 (2) LT1-V54 $ 1,809,064.00 (3) LT1-F55 $ 1,606,116.50 (2) LT1-V55 $ 1,606,116.50 (3) LT1-F56 $ 1,548,606.50 (2) LT1-V56 $ 1,548,606.50 (3) LT1-F57 $ 13,063,253.50 (2) LT1-V57 $ 13,063,253.50 (3) LT1-F58 $ 8,081,401.00 (2) LT1-V58 $ 8,081,401.00 (3) LT1-F59 $ 8,414,418.00 (2) LT1-V59 $ 8,414,418.00 (3)
Appears in 1 contract
Samples: Trust Agreement (LXS 2007-8h)
Middle. Tier REMIC 1 shall hold the uncertificated REMIC regular interests issued by Lower-Tier REMIC 1 1, other than the LT1-R Interest, and shall issue several uncertificated interests. Each such interest, including other than the MTClass MT1-R-1 R Interest, which is hereby designated as a REMIC regular interest. The Class MT1-R Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 1. Each remaining uncertificated interest in Middle-Tier REMIC 1 2 shall hold the uncertificated interests issued by Middle-Tier REMIC 1, other than the MT1-R Interest, and shall issue several uncertificated interests. Each such interest, other than the Class MT2-R Interest, is hereby designated as a REMIC regular interest. Upper-Tier REMIC I shall hold the uncertificated REMIC regular interests issued by Middle-Tier REMIC 1. Each of the Aggregate Pool I Certificates (other than the The Class AMT2-R Certificate and the Exchangeable Certificates) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC I. Upper-Tier REMIC I shall also issue the Class A-R-1 Certificate, which Interest is hereby designated as the sole residual interest in Middle-Tier REMIC 2. The Upper-Tier REMIC I. Lowershall hold the uncertificated interests issued by Middle-Tier REMIC 2 shall hold 2, other than the assets Class MT2-R Interest. Each of the Trust Fund related Offered Certificates represent ownership of regular interests in the Upper-Tier REMIC. Each of the Offered Certificates (other than the Class A-IO and Class M9 Certificates) also represents the right to Aggregate Pool II receive Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls. In addition, each of the Offered Certificates represents the obligation to pay Class I Shortfalls. For federal income tax purposes, the Class XS Component of the Class X Certificates represent ownership of regular interests in the Upper-Tier REMIC and also represent the obligation to make payments in respect of Basis Risk Shortfalls or Unpaid Basis Risk Shortfalls to the LIBOR Certificates to the extent payable from Monthly Excess Cashflow. The Class CX and Class SX Components of the Class 1-X Certificates shall not represent an interest in any REMIC formed hereby. The Class P Certificates represent ownership of regular interests in the Upper-Tier REMIC. The Class R Certificate represents ownership of the sole class of residual interest in the Upper-Tier REMIC as well as ownership of the Class LT1-R, Class MT1-R, and Class MT2-R Interests. Pooling REMIC 1 Pooling REMIC 1 shall issue several one uncertificated interestsinterest in respect of each Mortgage Loan held by the Trust on the Closing Date, including the LT-R-2 Interest, each of which is hereby designated as a regular interest in Pooling REMIC 1 (the “Pooling REMIC 1 Regular Interests”). Pooling REMIC 1 shall also issue the Class LT-R Certificate, which shall represent the sole class of residual interest in Pooling REMIC 1. Each Pooling REMIC 1 Regular Interest shall have an initial principal balance equal to the Scheduled Principal Balance of the Mortgage Loan to which it relates and shall bear interest at a per annum rate equal to the Net Mortgage Rate of such Mortgage Loan. In the event a Qualifying Substitute Mortgage Loan is substituted for such Mortgage Loan (the “Original Mortgage Loan”), no amount of interest payable on such Qualifying Mortgage Loan shall be distributed on such Pooling REMIC 1 Regular Interest at a rate in excess of the Net Mortgage Rate of the Original Mortgage Loan. On each Distribution Date, the Trustee shall first pay or charge as an expense of Pooling REMIC 1 all expenses of the Trust Fund (other than any expenses with respect to the Swap Agreement) that are deducted in computing the Interest Remittance Amount for such Distribution Date. On each Distribution Date the Trustee shall distribute the aggregate Interest Remittance Amount (net of expenses described in the preceding paragraph) with respect to each of the Lower-Tier Interests in Pooling REMIC 1 based on the above-described interest rates. On each Distribution Date, the Trustee shall distribute the aggregate Principal Remittance Amount among the Pooling REMIC 1 Regular Interests in accordance with the amount of the Principal Remittance Amount attributable to the Mortgage Loan corresponding to each such Pooling REMIC 1 Regular Interest. All losses on the Mortgage Loans shall be allocated among the Pooling REMIC 1 Regular Interest in the same manner that principal distributions are allocated. On each Distribution Date, the Trustee shall distribute the Prepayment Premiums collected during the preceding Prepayment Period, in the case of Principal Prepayments in full, or during the related Collection Period, in the case of Principal Prepayments in part, to the Pooling REMIC 1 Regular Interest corresponding to the Mortgage Loan with respect to which such amounts were received. Lower-Tier REMIC 1 The following table sets forth (or describes) the designation, interest rate, and initial principal balance for each interest in Lower-Tier REMIC 2. Each remaining uncertificated 1, each of which, other than the LT1-R Lower-Tier Interest) is hereby designated as a regular interest in Lower-Tier REMIC 2 is hereby designated as a REMIC regular interest. Upper-Tier REMIC 2 shall hold 1 (the uncertificated REMIC regular interests issued by Lower-Tier REMIC 2. Each of the Aggregate Pool II Certificates (other than the Class II-A-R Certificate) and the Uncertificated REMIC Interests represent ownership of regular interests in Upper-Tier REMIC II. Upper-Tier REMIC II shall also issue the Class II-A-R Certificate, which is hereby designated as the sole residual interest in Upper-Tier REMIC 2. The latest possible maturity date of all REMIC regular interests created in this Agreement shall be the Latest Possible Maturity Date. The “Lower-Tier REMIC 1 The Lower Tier Interests in Lower-Tier REMIC 1 shall have the class designations, initial principal amounts, interest rates and corresponding Pool, Subgroup or Class of Certificates as set forth in the following table: Class Regular Interests): Designation Initial Principal Amount Certificate Balance Interest Rate Corresponding Subgroup, Pool or Class of Certificates LT1-SG1-A (0.9% of SP Subgroup 1-15) (1) 5.00% 1-1 LT1-SG1-B F1 $ 7,795,007.50 (0.1% of SP Subgroup 1-12) (1) 5.00% 1-1 LT1-SG1-C V1 $ 7,795,007.50 (Excess of Subgroup 1-13) (1) 5.00% 1-1 LT1-SG2-A F2 $ 7,518,947.00 (0.9% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG2V2 $ 7,518,947.00 (3) LT1-B F3 $ 7,252,655.50 (0.1% of SP Subgroup 1-2) (1) 6.00% 1-2 LT1-SG3-A V3 $ 7,252,655.50 (0.9% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F4 $ 6,995,787.50 (2) LT1-B V4 $ 6,995,787.50 (0.1% of SP Subgroup 1-3) (1) 6.50% 1-3 LT1-SG3F5 $ 6,748,011.00 (2) LT1-C V5 $ 6,748,011.00 (Excess of Subgroup 1-3) (1) 6.50% 1-3 LT1-SG4F6 $ 6,560,863.00 (2) LT1-A V6 $ 6,560,863.00 (0.9% of SP Subgroup 13) LT1-F7 $ 6,276,625.50 (2) LT1-V7 $ 6,276,625.50 (3) LT1-F8 $ 6,054,301.00 (2) LT1-V8 $ 6,054,301.00 (3) LT1-F9 $ 5,839,845.50 (2) LT1-V9 $ 5,839,845.50 (3) LT1-F10 $ 5,632,980.50 (2) LT1-V10 $ 5,632,980.50 (3) LT1-F11 $ 16,802,463.50 (2) LT1-V11 $ 16,802,463.50 (3) LT1-F12 $ 5,712,624.00 (2) LT1-V12 $ 5,712,624.00 (3) LT1-F13 $ 5,473,585.00 (2) LT1-V13 $ 5,473,585.00 (3) LT1-F14 $ 5,244,542.50 (2) Designation Initial Principal Balance Interest Rate LT1-V14 $ 5,244,542.50 (3) LT1-F15 $ 5,025,078.00 (2) LT1-V15 $ 5,025,078.00 (3) LT1-F16 $ 4,814,792.50 (2) LT1-V16 $ 4,814,792.50 (3) LT1-F17 $ 4,785,437.00 (2) LT1-V17 $ 4,785,437.00 (3) LT1-F18 $ 4,412,978.00 (2) LT1-V18 $ 4,412,978.00 (3) LT1-F19 $ 4,438,296.50 (2) LT1-V19 $ 4,438,296.50 (3) LT1-F20 $ 4,042,476.50 (2) LT1-V20 $ 4,042,476.50 (3) LT1-F21 $ 3,895,279.50 (2) LT1-V21 $ 3,895,279.50 (3) LT1-F22 $ 3,827,481.00 (2) LT1-V22 $ 3,827,481.00 (3) LT1-F23 $ 16,520,425.00 (2) LT1-V23 $ 16,520,425.00 (3) LT1-F24 $ 3,330,524.00 (2) LT1-V24 $ 3,330,524.00 (3) LT1-F25 $ 3,168,050.00 (2) LT1-V25 $ 3,168,050.00 (3) LT1-F26 $ 3,044,171.50 (2) LT1-V26 $ 3,044,171.50 (3) LT1-F27 $ 2,926,999.00 (2) LT1-V27 $ 2,926,999.00 (3) LT1-F28 $ 2,767,135.00 (2) LT1-V28 $ 2,767,135.00 (3) LT1-F29 $ 2,602,144.50 (2) LT1-V29 $ 2,602,144.50 (3) LT1-F30 $ 2,658,393.00 (2) LT1-V30 $ 2,658,393.00 (3) LT1-F31 $ 2,367,130.50 (2) LT1-V31 $ 2,367,130.50 (3) LT1-F32 $ 2,394,658.50 (2) LT1-V32 $ 2,394,658.50 (3) LT1-F33 $ 2,191,893.50 (2) LT1-V33 $ 2,191,893.50 (3) LT1-F34 $ 2,052,568.50 (2) LT1-V34 $ 2,052,568.50 (3) LT1-F35 $ 1,932,263.00 (2) LT1-V35 $ 1,932,263.00 (3) LT1-F36 $ 1,796,843.00 (2) LT1-V36 $ 1,796,843.00 (3) Designation Initial Principal Balance Interest Rate LT1-F37 $ 1,709,157.50 (2) LT1-V37 $ 1,709,157.50 (3) LT1-F38 $ 1,625,749.50 (2) LT1-V38 $ 1,625,749.50 (3) LT1-F39 $ 1,546,409.00 (2) LT1-V39 $ 1,546,409.00 (3) LT1-F40 $ 1,470,939.00 (2) LT1-V40 $ 1,470,939.00 (3) LT1-F41 $ 1,399,150.50 (2) LT1-V41 $ 1,399,150.50 (3) LT1-F42 $ 1,330,863.50 (2) LT1-V42 $ 1,330,863.50 (3) LT1-F43 $ 1,265,907.00 (2) LT1-V43 $ 1,265,907.00 (3) LT1-F44 $ 1,204,120.00 (2) LT1-V44 $ 1,204,120.00 (3) LT1-F45 $ 1,145,347.00 (2) LT1-V45 $ 1,145,347.00 (3) LT1-F46 $ 1,112,585.00 (2) LT1-V46 $ 1,112,585.00 (3) LT1-F47 $ 1,035,138.00 (2) LT1-V47 $ 1,035,138.00 (3) LT1-F48 $ 984,608.00 (2) LT1-V48 $ 984,608.00 (3) LT1-F49 $ 936,543.50 (2) LT1-V49 $ 936,543.50 (3) LT1-F50 $ 982,003.00 (2) LT1-V50 $ 982,003.00 (3) LT1-F51 $ 866,511.00 (2) LT1-V51 $ 866,511.00 (3) LT1-F52 $ 800,606.00 (2) LT1-V52 $ 800,606.00 (3) LT1-F53 $ 770,906.00 (2) LT1-V53 $ 770,906.00 (3) LT1-F54 $ 723,881.50 (2) LT1-V54 $ 723,881.50 (3) LT1-F55 $ 695,877.00 (2) LT1-V55 $ 695,877.00 (3) LT1-F56 $ 842,504.00 (2) LT1-V56 $ 842,504.00 (3) LT1-F57 $ 2,184,401.00 (2) LT1-V57 $ 2,184,401.00 (3) LT1-F58 $ 4,875,052.00 (2) LT1-V58 $ 4,875,052.00 (3) LT1-F59 $ 5,494,287.50 (2) Designation Initial Principal Balance Interest Rate LT1-V59 $ 5,494,287.50 (3) LT1-R (4) (1) (4) 1-4 LT1-SG4-B (0.1% of SP Subgroup 1-4) (1) (4) 1-4 LT1-SG4-C (Excess of Subgroup 1-4) (1) (4) 1-4 LT1-SG5-A (0.9% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-B (0.1% of SP Subgroup 2-1) (1) (4) 2-1 LT1-SG5-C (Excess of Subgroup 2-1) (1) (4) 2-1 LT1-SG6-A (0.9% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-B (0.1% of SP Subgroup 2-2) (1) 5.00% 2-2 LT1-SG6-C (Excess of Subgroup 2-2) (1) 5.00% 2-2 LT1-SG7-A (0.9% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-B (0.1% of SP Subgroup 2-3) (1) 5.50% 2-3 LT1-SG7-C (Excess of Subgroup 2-3) (1) 5.50% 2-3 LT1-SG8-A (0.9% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-B (0.1% of SP Subgroup 2-4) (1) (4) 2-4 LT1-SG8-C (Excess of Subgroup 2-4) (1) (4) 2-4 LT1-A-P (3) (4) A-P LT1-A-X (2) (4) A-X LT1-P $100.00 0.00% N/A LT-R-1 (5) (5) N/A ___________________________
Appears in 1 contract
