Common use of Payments of Basis Risk Shortfall Carry Forward Amounts and Yield Clause in Contracts

Payments of Basis Risk Shortfall Carry Forward Amounts and Yield. Maintenance Payments shall be deemed to be made to the holders of the Class B-IO Certificate of the related Group with respect to which such payments were made, who will be the owners of such amounts (on a pro rata basis based upon their Percentage Interest in such Class) for federal income tax purposes. The Class I-B-IO Certificateholders will be considered to pay such amounts to the Class I-A-1, Class I-A-2, Class I-A-3, Class I-M-1, Class I-M-2, Class I-M-3, Class I-M-4, Class I-M-5, Class I-M-6 and Class I-B, and the Class II-B-IO Certificateholders will be considered to pay such amounts to the Class II-A, Class II-M-1, Class II-M-2, Class II-M-3 and Class II-B Certificates, as and to the extent appropriate, pursuant to a notional principal contract.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (Bears Stearns Asset Backed Securities Trust 2005-Sd2), Pooling and Servicing Agreement (Bsabs 20005-Sd1), Pooling and Servicing Agreement (Bears Stearns Asset Backed Securities Trust 2005-Sd2)

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