Payments of Basis Risk Carry Forward Shortfall Amounts and payments of Yield. Maintenance Amounts shall be deemed to be made to the holder of the Class B-IO Certificate, who will be the owner of such amounts for federal income tax purposes. The Class B-IO Certificate holder will be considered to pay such amounts to the Class A-1, Class A-2, Class A-IO, Class M-1, Class M-2 or Class B Xxxxxxxxxxxx, as appropriate, pursuant to a notional principal contract.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc), Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Payments of Basis Risk Carry Forward Shortfall Amounts and payments of Yield. Maintenance Amounts shall be deemed to be made to the holder of the Class B-IO Certificate, who will be the owner of such amounts for federal income tax purposes. The Class B-IO Certificate holder Certificateholder will be considered to pay such amounts to the Class A-1, Class A-2X-0, Class A-IOXxxxx X-0, Class M-1, Class M-2 or Class B XxxxxxxxxxxxCertificates, as appropriate, pursuant to a notional principal contract.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
Payments of Basis Risk Carry Forward Shortfall Amounts and payments of Yield. Maintenance Amounts shall be deemed to be made to the holder of the Class B-IO Certificate, who will be the owner of such amounts for federal income tax purposes. The Class B-IO Certificate holder Certificateholder will be considered to pay such amounts to the Class A-1, Class A-2, Class A-IO, Class M-1, Class M-2 or Class B XxxxxxxxxxxxCertixxxxxxx, as appropriatexx xxpropriate, pursuant to a notional principal contract.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Asset Backed Securities Inc)
