Common use of No Priority Among Certificates Clause in Contracts

No Priority Among Certificates. All Certificateholders shall rank equally as to amounts distributable upon the liquidation, dissolution or winding up of the Trust, with no preference or priority being afforded to any Certificateholders over any other Certificateholders, except that amounts distributable to the Group I Certificates will be distributed first to the Class SB-I Certificates, in an amount equal to the Class SB-I Distribution Amount for such Payment Date and the Class SB-I Distribution Amount for any previous Payment Date to the extent not previously paid, before being distributed to the Class R-I Certificates, and amounts distributable to the Class SB-II Certificates will be distributed to the Class SB-II Certificates.

Appears in 12 contracts

Samples: Trust Agreement (RFMSII Series 2006-Hsa2 Trust), Trust Agreement (Home Equity Loan Trust 2007-Hsa3), Trust Agreement (Residential Funding Mortgage Securities Ii Inc)

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No Priority Among Certificates. All Certificateholders shall rank equally as to amounts distributable upon the liquidation, dissolution or winding up of the Trust, with no preference or priority being afforded to any Certificateholders over any other Certificateholders, except that amounts distributable to the Group I II Certificates will be distributed first to the Class SB-I II Certificates, in an amount equal to the Class SB-I II Distribution Amount for such Payment Date and the Class SB-I II Distribution Amount for any previous Payment Date to the extent not previously paid, before being distributed to the Class R-I Certificates, and amounts distributable to the Class SB-II Certificates will be distributed to the Class SB-II Certificates.

Appears in 1 contract

Samples: Trust Agreement (Residential Asset Mortgage Products Inc)

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