Common use of Payments; Statements Clause in Contracts

Payments; Statements. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement prepared by the Servicer on or before such Payment Date), for application on such Payment Date in respect of payments for the Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to it; (ii) from amounts then on deposit in the Payment Account, to the Note Insurer, the Premium Amount for such payment date; (iii) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Interest Payment Amount; (iv) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Principal Payment Amount; (v) from amounts then on deposit in the Payment Account (excluding any Insured Payments), to the Note Insurer, all Reimbursement Amounts which have not been previously paid as of such Payment Date and any other amounts then due to the Note Insurer pursuant to the Insurance Agreement; (vi) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the amount of any Net Mortgage Loan Interest Shortfalls; and (vii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the Payment Account, the Indenture Trustee shall distribute to the Holders of the Trust Certificates, the amount remaining on such Payment Date, if any.

Appears in 3 contracts

Samples: Indenture (Prudential Securities Secured Financing Corp), Indenture (American Business Financial Services Inc /De/), Indenture (Bear Stearns Asset Backed Securities Inc)

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Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account, such amounts on deposit therein relating to the Indenture Trustee Fees, expenses and other amounts then due to it including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), the Owner Trustee Fee due to the Owner Trustee for such Payment Date and the Premium due the Note Insurer for such Payment Date and shall pay itself the Indenture Trustee Fee and any other amounts due the Indenture Trustee and shall distribute such Owner Trustee Fee and Premium as instructed in writing by the Master Servicer. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee's Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeHolders of the related Class of Notes, an amount equal to the Indenture Trustee Fees then due to itPayment Amount for such Class; (ii) from amounts then on deposit in the related Payment Account, to the Note InsurerOver-collateralization Deficit, if any, for the Premium Amount for such payment daterelated Class of Notes; (iii) pari passu, with respect to each other Class of Notes, from amounts then on deposit in the related Payment Account, to the Holders of the each other Class of Notes, the Class A Interest Payment Shortfall Amount for each other Class, allocated pro rata based on the amount of each Shortfall Amount; (iv) from amounts then on deposit in the related Payment Account, to the Holders of the NotesNote Insurer, the Reimbursement Amount with respect to the related Class A Principal as of such Payment AmountDate; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments)Account, to the Note Insurer, all the Reimbursement Amounts which have not been previously paid Amount with respect to each other Class of Notes as of such Payment Date and any other amounts then due to the Note Insurer extent not already reimbursed pursuant to clause (iv) above, allocated pro rata based on the Insurance Agreementamount of each Reimbursement Amount; (vi) from amounts then on deposit in the related Payment Account, the Overcollateralization Increase Amount for the related Class of Notes; (vii) from amounts then on deposit in the related Payment Account, to the related Reserve Account, the Reserve Payment Amount; (viii) with respect to the Class A-2 Notes, from amounts then on deposit in the related Payment Account and amounts released from the related Reserve Account, to the Holders of the Class A-2 Notes, the Class A-2 Net WAC Cap Carry-Forward Amount; (ix) with respect to the Class A-3 Notes, from amounts then on deposit in the related Payment Account and amounts released from the related Reserve Account, to the Holders of the Class A-3 Notes, the Class A-3 Net WAC Cap Carry-Forward Amounts; (x) from: (A) amounts then on deposit in the Payment Account related to the Class A-1 Notes, to the Master Servicer, any amount of any Net due to it with respect to the Group 1 Mortgage Loan Interest ShortfallsLoans; and (viiB) amounts then on deposit in the Payment Account related to the Class A-2 Notes, to the Master Servicer, any amount due to it with respect to the Group 2 Mortgage Loans; (C) amounts then on deposit in the Payment Account related to the Class A-3 Notes, to the Master Servicer, any amount due to it with respect to the Group 3 Mortgage Loans; and (xi) pro rata, from aggregate amounts then on deposit in all three Payment Accounts, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xii) pro rata, from aggregate amounts then on deposit in all three Payment Accounts, to the Owner Trustee, its Expenses as defined in section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; and (xiii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the each Payment Account, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account, if any.

Appears in 2 contracts

Samples: Indenture (Accredited Home Lenders Accredited Mort Loan Trust 2002-2), Indenture (Accredited Home Lenders Accredited Mort Loan Trust 2002-2)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account, such amounts on deposit therein relating to the Indenture Trustee Fees, expenses and other amounts then due to it including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), the Owner Trustee Fee due to the Owner Trustee for such Payment Date and the Premium due the Note Insurer for such Payment Date and shall pay itself the Indenture Trustee Fee and any other amounts due the Indenture Trustee and shall distribute such Owner Trustee Fee and Premium as instructed in writing by the Master Servicer. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee’s Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeHolders of the related Class of Notes, an amount equal to the Indenture Trustee Fees then due to itPayment Amount for such Class; (ii) from amounts then on deposit in the related Payment Account, as a payment of principal, an amount equal to the Note InsurerOver-collateralization Deficit, if any, for the Premium Amount for such payment daterelated Class of Notes; (iii) pari passu, with respect to each other Class of Notes, from amounts then on deposit in the related Payment Account, to the Holders of the each other Class of Notes, the Class A Interest Payment Shortfall Amount for each other Class, allocated pro rata based on the amount of each Shortfall Amount; (iv) from amounts then on deposit in the related Payment Account, to the Holders of the NotesNote Insurer, the Reimbursement Amount with respect to the related Class A Principal as of such Payment AmountDate; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments)Account, to the Note Insurer, all the Reimbursement Amounts which have not been previously paid Amount with respect to each other Class of Notes as of such Payment Date and any other amounts then due to the Note Insurer extent not already reimbursed pursuant to clause (iv) above, allocated pro rata based on the Insurance Agreementamount of each Reimbursement Amount; (vi) from amounts then on deposit in the related Payment Account, as a payment of the principal, an amount equal to the Overcollateralization Increase Amount for the related Class of Notes; (vii) from amounts then on deposit in the related Payment Account, to the related Reserve Account, the Reserve Payment Amount; (viii) with respect to the Class A-2 Notes, from amounts then on deposit in the related Payment Account and amounts released from the related Reserve Account, to the Holders of the Class A-2 Notes, the Class A-2 Net WAC Cap Carry-Forward Amount; (ix) with respect to the Class A-3 Notes, from amounts then on deposit in the related Payment Account, the Yield Maintenance Account and amounts released from the related Reserve Account, to the Holders of the Class A-3 Notes, the Class A-3 Net WAC Cap Carry-Forward Amount; (x) from: (A) amounts then on deposit in the Payment Account related to the Class A-1 Notes, to the Master Servicer, any amount of any Net due to it with respect to the Group 1 Mortgage Loan Interest ShortfallsLoans; and (viiB) amounts then on deposit in the Payment Account related to the Class A-2 Notes, to the Master Servicer, any amount due to it with respect to the Group 2 Mortgage Loans; (C) amounts then on deposit in the Payment Account related to the Class A-3 Notes, to the Master Servicer, any amount due to it with respect to the Group 3 Mortgage Loans; and (xi) pro rata, from aggregate amounts then on deposit in all three Payment Accounts, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xii) pro rata, from aggregate amounts then on deposit in all three Payment Accounts, to the Owner Trustee, its Expenses as defined in section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; and (xiii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in each Payment Account and the Payment Yield Maintenance Account, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account and the Yield Maintenance Account, if any.

Appears in 2 contracts

Samples: Indenture (Accredited Mortgage Loan Trust 2003-3), Indenture (Accredited Mortgage Loan Trust 2003-2)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account, such amounts on deposit therein relating to the Indenture Trustee Fees, expenses and other amounts then due to it including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), the Owner Trustee Fee due to the Owner Trustee for such Payment Date and the Premium due the Note Insurer for such Payment Date and shall pay itself the Indenture Trustee Fee and any other amounts due the Indenture Trustee and shall distribute such Owner Trustee Fee and Premium as instructed in writing by the Master Servicer. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee's Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeHolders of the related Class of Notes, an amount equal to the Indenture Trustee Fees then due to itPayment Amount for such Class; (ii) from amounts then on deposit in the related Payment Account, to the Note InsurerOver-collateralization Deficit, if any, for the Premium Amount for such payment daterelated Class of Notes; (iii) from amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the Class A Interest Payment AmountShortfall Amount for such other Class; (iv) from amounts then on deposit in the related Payment Account, to the Holders of the NotesNote Insurer, the Reimbursement Amount with respect to the related Class A Principal as of such Payment AmountDate; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments)Account, to the Note Insurer, all the Reimbursement Amounts which have not been previously paid Amount with respect to the other Class of Notes as of such Payment Date and any other amounts then due to the Note Insurer extent not already reimbursed pursuant to the Insurance Agreementclause (iv) above; (vi) from amounts then on deposit in the related Payment Account, the Overcollateralization Increase Amount for the related Class of Notes; (vii) from amounts then on deposit in the related Payment Account, to the Reserve Account, the Reserve Payment Amount; (viii) with respect to the Class A-2 Notes, from amounts then on deposit in the related Payment Account, to the Holders of the Class A-2 Notes, the Class A-2 Net WAC Cap Carry-Forward Amount; (ix) from: (A) amounts then on deposit in the Payment Account related to the Class A-1 Notes, to the Master Servicer, any amount of any Net due to it with respect to the Group 1 Mortgage Loan Interest ShortfallsLoans; and (viiB) amounts then on deposit in the Payment Account related to the Class A-2 Notes, to the Master Servicer, any amount due to it with respect to the Group 2 Mortgage Loans; and (x) from amounts then on deposit in any Payment Account, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xi) to the Owner Trustee, its Expenses as defined in section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; (xii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in each Payment Account, the Indenture Trustee shall distribute to the Certificateholders (as identified in the Certificate Register maintained by the Owner Trustee), the amount remaining on such Payment Date in each Payment Account, if any; and (xiii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the Payment Reserve Account, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateReserve Account Release Amount, if any.

Appears in 2 contracts

Samples: Indenture (Accred Home LNDRS Inc Ac Mor Ln Tr 2002-1 as Bk Nt Se 2002-1), Indenture (Accred Home LNDRS Inc Ac Mor Ln Tr 2002-1 as Bk Nt Se 2002-1)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account such amounts on deposit therein relating to the Indenture Trustee’s expenses and other amounts then due to it, including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), and shall pay such amounts to itself. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee’s Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeNote Insurer, an amount equal the Premium for that Payment Date, with respect to the Indenture Trustee Fees then due to itrelated Class of Notes; (ii) from amounts then on deposit in the related Payment Account, to the Note InsurerHolders of the related Class of Notes, the Premium Interest Payment Amount for such payment dateClass; (iii) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the Class A Interest Base Principal Payment AmountAmount for such Class; (iv) from amounts then on deposit in the related Payment Account, as a payment of principal, an amount equal to the Overcollateralization Deficit, if any, for the related Class of Notes; (v) with respect to the other Class of Notes, from amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the Class A Principal Payment Amount; (v) from amounts then on deposit in Shortfall Amount for the Payment Account (excluding any Insured Payments), to the Note Insurer, all Reimbursement Amounts which have not been previously paid as of such Payment Date and any other amounts then due to the Note Insurer pursuant to the Insurance AgreementClass; (vi) from amounts then on deposit in the related Payment Account, to the Note Insurer, the Reimbursement Amount with respect to the related Class as of such Payment Date; (vii) from amounts then on deposit in the related Payment Account, to the Note Insurer, the Reimbursement Amount with respect to the other Class of Notes as of such Payment Date to the extent not already reimbursed pursuant to clause (iv) above; (viii) from amounts then on deposit in the related Payment Account, as a payment of the principal, an amount equal to the Overcollateralization Increase Amount for the related Class of Notes; (ix) [from amounts then on deposit in the related Payment Account, to the related sub-account of the Reserve Account, the Reserve Payment Amount;] (x) with respect to each class of Notes, from amounts then on deposit in the related Payment Account, the related Yield Maintenance Account [and amounts released from the related sub-account of the Reserve Account], to the Holders of such Class of Notes, the related Available Funds Cap Carry-Forward Amount; (xi) from amounts then on deposit in the Payment Account related to a Class of Notes, to the Servicer, any amount due to it with respect to the related Group of Mortgage Loans; (xii) pro rata, from aggregate amounts then on deposit in both Payment Accounts, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xiii) from aggregate amounts then on deposit in both Payment Accounts, to the Owner Trustee, its Expenses as defined in Section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; (xiv) from the aggregate amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the any amount of any Net Mortgage Loan due to them as an Interest ShortfallsReduction Carryforward Amount; and (viixv) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in each Payment Account and the Payment AccountYield Maintenance Accounts, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account and the Yield Maintenance Accounts, if any.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan REIT Trust)

Payments; Statements. (a) On each Payment Distribution Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the Payment Distribution Account on any Payment Distribution Date or Redemption Date shall be withdrawn from such Payment the Distribution Account, in the amounts required (based on the Noteholder Statement prepared by the Servicer Indenture Trustee on or before such Payment Distribution Date), for application on such Payment Distribution Date in respect of payments for the Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Trustee's Fees then due to it; (ii) from amounts then on deposit in the Payment Account, to the Note Insurer, the Premium Amount for such payment dateDistribution Date then due to it; (iii) from amounts then on deposit in the Payment Account, to the Holders of the Notes, Interest Distribution Amount for the Class A Interest Payment AmountNotes; (iv) from amounts then on deposit in the Payment Account, Reimbursement Amount owing to the Holders of the Notes, the Class A Principal Payment AmountNote Insurer; (v) from amounts then on deposit in the Payment Account (excluding any Insured Payments)Principal Distribution Amount, which will be distributed to the holders of the Class A Notes, until the aggregate Note Insurer, all Reimbursement Amounts which have not been previously paid as Principal Balance of such Payment Date and any other amounts then due the Class A Notes is reduced to the Note Insurer pursuant to the Insurance Agreementzero; (vi) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the amount of any Net Mortgage Loan Interest Shortfalls; andShortfalls for the Class A Notes; (vii) to the Indenture Trustee, an amount equal to the outstanding expenses due the Indenture Trustee pursuant to this Agreement and not otherwise paid or reimbursed by the Servicer; (viii) to the Servicer for reimbursement of any Nonrecoverable Advances and nonrecoverable Servicing Advances; (ix) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the Payment Distribution Account, the Indenture Trustee shall distribute to the Holders of the Trust Certificates, the amount remaining on such Payment Distribution Date, if any. (b) [Reserved].

Appears in 1 contract

Samples: Indenture (Bear Stearns Asset Backed Securities Inc)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account, such amounts on deposit therein relating to the Indenture Trustee Fees, expenses and other amounts then due to it including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), the Owner Trustee Fee due to the Owner Trustee for such Payment Date and the Premium due the Note Insurer for such Payment Date and shall pay itself the Indenture Trustee Fee and any other amounts due the Indenture Trustee and shall distribute such Owner Trustee Fee and Premium as instructed in writing by the Master Servicer. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee's Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeHolders of the related Class of Notes, an amount equal to the Indenture Trustee Fees then due to itPayment Amount for such Class; (ii) from amounts then on deposit in the related Payment Account, as a payment of principal, an amount equal to the Note InsurerOver-collateralization Deficit, if any, for the Premium Amount for such payment daterelated Class of Notes; (iii) pari passu, with respect to each other Class of Notes, from amounts then on deposit in the related Payment Account, to the Holders of the each other Class of Notes, the Class A Interest Payment Shortfall Amount for each other Class, allocated pro rata based on the amount of each Shortfall Amount; (iv) from amounts then on deposit in the related Payment Account, to the Holders of the NotesNote Insurer, the Reimbursement Amount with respect to the related Class A Principal as of such Payment AmountDate; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments)Account, to the Note Insurer, all the Reimbursement Amounts which have not been previously paid Amount with respect to each other Class of Notes as of such Payment Date and any other amounts then due to the Note Insurer extent not already reimbursed pursuant to clause (iv) above, allocated pro rata based on the Insurance Agreementamount of each Reimbursement Amount; (vi) from amounts then on deposit in the related Payment Account, as a payment of the principal, an amount equal to the Overcollateralization Increase Amount for the related Class of Notes; (vii) from amounts then on deposit in the related Payment Account, to the related Reserve Account, the Reserve Payment Amount; (viii) with respect to the Class A-2 Notes, from amounts then on deposit in the related Payment Account and amounts released from the related Reserve Account, to the Holders of the Class A-2 Notes, the Class A-2 Net WAC Cap Carry-Forward Amount; (ix) with respect to the Class A-3 Notes, from amounts then on deposit in the related Payment Account and amounts released from the related Reserve Account, to the Holders of the Class A-3 Notes, the Class A-3 Net WAC Cap Carry-Forward Amount; (x) from: (A) amounts then on deposit in the Payment Account related to the Class A-1 Notes, to the Master Servicer, any amount of any Net due to it with respect to the Group 1 Mortgage Loan Interest ShortfallsLoans; and (viiB) amounts then on deposit in the Payment Account related to the Class A-2 Notes, to the Master Servicer, any amount due to it with respect to the Group 2 Mortgage Loans; (C) amounts then on deposit in the Payment Account related to the Class A-3 Notes, to the Master Servicer, any amount due to it with respect to the Group 3 Mortgage Loans; and (xi) pro rata, from aggregate amounts then on deposit in all three Payment Accounts, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xii) pro rata, from aggregate amounts then on deposit in all three Payment Accounts, to the Owner Trustee, its Expenses as defined in section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; and (xiii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the each Payment Account, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account, if any.

Appears in 1 contract

Samples: Indenture (Accredited Mort Loan Trust Asset Back Notes Series 2003-1)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account, such amounts on deposit therein relating to the Indenture Trustee Fees, expenses and other amounts then due to it including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), the Owner Trustee Fee due to the Owner Trustee for such Payment Date and the Premium due the Note Insurer for such Payment Date and shall pay itself the Indenture Trustee Fee and any other amounts due the Indenture Trustee and shall distribute such Owner Trustee Fee and Premium as instructed in writing by the Master Servicer. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee’s Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeHolders of the related Class of Notes, an amount equal to the Indenture Trustee Fees then due to itPayment Amount for such Class; (ii) from amounts then on deposit in the related Payment Account, as a payment of principal, an amount equal to the Note InsurerOvercollateralization Deficit, if any, for the Premium Amount for such payment daterelated Class of Notes; (iii) with respect to the other Class of Notes, from amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the Class A Interest Payment AmountShortfall Amount for the other Class; (iv) from amounts then on deposit in the related Payment Account, to the Holders of the NotesNote Insurer, the Reimbursement Amount with respect to the related Class A Principal as of such Payment AmountDate; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments)Account, to the Note Insurer, all the Reimbursement Amounts which have not been previously paid Amount with respect to the other Class of Notes as of such Payment Date and any other amounts then due to the Note Insurer extent not already reimbursed pursuant to clause (iv) above, allocated pro rata based on the Insurance Agreementamount of each Reimbursement Amount; (vi) from amounts then on deposit in the related Payment Account, as a payment of the principal, an amount equal to the Overcollateralization Increase Amount for the related Class of Notes; (vii) from amounts then on deposit in the related Payment Account, to the related Reserve Account, the Reserve Payment Amount; (viii) with respect to the Class A-1 Notes, from amounts then on deposit in the related Payment Account and amounts released from the related Reserve Account, to the Holders of the Class A-1 Notes, the Class A-1 Net WAC Cap Carry-Forward Amount; (ix) with respect to the Class A-2 Notes, from amounts then on deposit in the related Payment Account, the Yield Maintenance Account and amounts released from the related Reserve Account, to the Holders of the Class A-2 Notes, the Class A-2 Net WAC Cap Carry-Forward Amount; (x) from: (A) amounts then on deposit in the Payment Account related to the Class A-1 Notes, to the Master Servicer, any amount of any Net due to it with respect to the Group 1 Mortgage Loan Interest ShortfallsLoans; and (viiB) amounts then on deposit in the Payment Account related to the Class A-2 Notes, to the Master Servicer, any amount due to it with respect to the Group 2 Mortgage Loans; (xi) pro rata, from aggregate amounts then on deposit in both Payment Accounts, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xii) pro rata, from aggregate amounts then on deposit in both Payment Accounts, to the Owner Trustee, its Expenses as defined in section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; and (xiii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in each Payment Account and the Payment Yield Maintenance Account, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account and the Yield Maintenance Account, if any.

Appears in 1 contract

Samples: Indenture (Accredited Home Lenders Inc Mortgage Loan Trust 2004-1)

Payments; Statements. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee's Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment Date), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to itit with respect to the related Class of Notes; (ii) from amounts then on deposit in the Payment Account, to the Note Insurer, the Premium Amount for such payment date; (iii) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Interest Payment Amount; (iv) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Principal Payment Amount; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments), to the Note Insurer, the lesser of (x) the excess of (i) the amount then on deposit in such Payment Account over (ii) the Insured Payment Amount for such Pool on such Payment Date and (y) the sum of the amount of all Reimbursement Amounts relating to such Class of Notes which have not been previously paid as of such Payment Date and any other amounts relating to such Class then due to the Note Insurer pursuant to the Insurance Agreement; (viiii) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the Payment Amount for such Class; (iv) from amounts then on deposit in the related Payment Account, to the Cross- collateralization Reserve Account relating to the other Classes of Notes, pro rata, based on the relative deficiencies in those accounts, the amounts necessary for the balance of such accounts to equal the applicable Reserve Payment Amount for such Classes; (v) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the amount of any Net Mortgage Loan Interest ShortfallsShortfalls for such Class; (vi) from amounts then on deposit in the related Payment Account, to the Holders of the other Classes of Notes, the amount of any Net Mortgage Loan Interest Shortfalls for such other Classes of Notes, pro rata, based on the relative amounts of such shortfalls; (vii) with respect to the Class A-3 Notes, from amounts then on deposit in the Payment Account relating to the Class A-3 Notes, to the Holders of the Class A-3 Notes, the Class A-3 Available Funds Cap Carry-Forward Amount; and (viiviii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the related Payment Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Payment Date, if any.

Appears in 1 contract

Samples: Indenture (Prudential Securities Secured Financing Corp)

Payments; Statements. (a) On each Payment Distribution Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the Payment each Distribution Account on any Payment Distribution Date or Redemption Date shall be withdrawn from such Payment Distribution Account, in the amounts required (based on the Noteholder Statement prepared by the Servicer Indenture Trustee on or before such Payment Distribution Date), for application on such Payment Distribution Date in respect of payments for the Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Trustee's Fees then due to itit with respect to such Mortgage Loan Group; (ii) from amounts then on deposit in the Payment Account, to the Note Insurer, the Premium Amount for such payment dateDistribution Date then due to it with respect to such Mortgage Loan Group; (iii) from amounts then on deposit in the Payment Account, to Interest Distribution Amount for the Holders of the Notes, the related Class A Interest Payment AmountNotes with respect to such Mortgage Loan Group; (iv) from amounts then on deposit in the Payment Account, Reimbursement Amount owing to the Holders of the Notes, the Class A Principal Payment AmountNote Insurer with respect to such Mortgage Loan Group; (v) from amounts then on deposit in the Payment Account Principal Distribution Amount for that Mortgage Loan Group, which will be distributed (excluding any Insured Payments)x) with respect to Mortgage Loan Group I, to the holders of the Class A-1 Notes, until the aggregate Note InsurerPrincipal Balance of the Class A-1 Notes is reduced to zero; and (y) with respect to Mortgage Loan Group II, all Reimbursement Amounts which have not been previously paid as of such Payment Date and any other amounts then due to the holders of the Class A-2 Notes, until the aggregate Note Insurer pursuant Principal Balance of the Class A-2 Notes is reduced to the Insurance Agreementzero; (vi) from amounts then on deposit in to the Payment Cross-collateralization Reserve Account, the amount necessary for the balance of such account to equal the Specified Reserve Amount; provided, that if the outstanding aggregate Note Principal Balance of the Notes related to such Mortgage Loan Group shall have been reduced to zero, then (a) all Net Monthly Excess Cashflow in respect of such Mortgage Loan Group plus (b) the Principal Distribution Amount for such Mortgage Loan Group will be transferred to the Holders of the Notes, Cross-collateralization Reserve Account; (vii) the amount of any Net Mortgage Loan Interest Shortfalls; andShortfalls for the Class A Notes; (viiviii) to the Indenture Trustee, an amount equal to the outstanding expenses due the Indenture Trustee pursuant to this Agreement and not otherwise paid or reimbursed by the Servicer with respect to such Mortgage Loan Group; (ix) to the Servicer for reimbursement of any Nonrecoverable Advances and nonrecoverable Servicing Advances with respect to such Mortgage Loan Group; (x) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the Payment related Distribution Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Payment Distribution Date, if any. (i) On each Distribution Date, to the extent there would be any outstanding Shortfall Amount for either Mortgage Loan Group after the application of the Available Funds for such Mortgage Loan Group pursuant to clauses (i) through (v) of Section 8.02 (a) (without taking into account any transfers from the Cross-collateralization Reserve Account or Insured Payments included in such Available Funds on that date), amounts on deposit in the Cross-collateralization Reserve Account, including any amounts to be deposited from the other Mortgage Loan Group pursuant to clause (vi) of Section 8.02 (a) on that Distribution Date, shall be withdrawn from the Cross-collateralization Reserve Account and applied on that Distribution Date towards the payment of any outstanding Shortfall Amount with respect to such Mortgage Loan Group on that Distribution Date. (ii) If on any Distribution Date a Shortfall Amount exists with respect to only one Mortgage Loan Group (the "Shortfall Group"), then distributions from the Distribution Account with respect to such Shortfall Group shall not be made until after the distributions with respect to the other Mortgage Loan Group have been completed, and the Available Funds for the Shortfall Group shall include (to the extent of such Shortfall Amount for the Shortfall Group) all amounts on deposit in the Cross-collateralization Reserve Account after giving effect to the distributions from the other Mortgage Loan Group. If on any Distribution Date a Shortfall Amount exists with respect to both Mortgage Loan Groups and the funds in the Cross-collateralization Reserve Account are not sufficient to pay such Shortfall Amounts in full, then the funds in the Cross-collateralization Reserve Account shall be applied to the payment of such Shortfall Amounts in such order of priority as the Note Insurer shall direct or, in the absence of such direction, pro rata in proportion to the respective Shortfall Amounts for each Mortgage Loan Group. (iii) Any amounts withdrawn from the Cross- collateralization Reserve Account pursuant to the above two clauses (i) and (ii) shall be deemed to have been withdrawn first, from amounts other than the Reserved Principal Amount and, second, from the Reserved Principal Amount (which withdrawals deemed to have been made from the Reserved Principal Amount shall pro tanto reduce the dollar amount thereof). (iv) If the amount on deposit in the Cross- collateralization Reserve Account on any Distribution Date, after the deposit in such account on such date of any amounts pursuant to Section 8.02(a)(vi) above and the use of such amounts pursuant to the preceding paragraph, but exclusive of the Reserved Principal Amount, if any, then on deposit in the Cross-collateralization Reserve Account, exceeds or would exceed the Specified Reserve Amount for such date, the amount of such excess shall be withdrawn from the Cross-collateralization Reserve Account and deposited into the Distribution Account to be applied pursuant to clauses (vii) through (x) of Section 8.02(a) above.

Appears in 1 contract

Samples: Indenture (Morgan Stanley Abs Capital I Inc)

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Payments; Statements. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based solely on the Noteholder Statement prepared by Servicer's Remittance Report delivered to the Servicer Indenture Trustee on or before such Payment Date), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to itit with respect to the related Class of Notes; (ii) from amounts then on deposit in the Payment Account, to the Note Insurer, the Premium Amount for such payment date; (iii) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Interest Payment Amount; (iv) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Principal Payment Amount; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments), to the Note Insurer, the lesser of (x) the excess of (i) the amount then on deposit in such Payment Account over (ii) the Insured Payment Amount for such Pool on such Payment Date and (y) the sum of the amount of all Reimbursement Amounts relating to such Class of Notes which have not been previously paid as of such Payment Date and any other amounts relating to such Class then due to the Note Insurer pursuant to the Insurance Agreement; (viiii) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the Payment Amount for such Class; (iv) from amounts then on deposit in the related Payment Account, to the Cross-collateralization Reserve Account relating to the other Class of Notes, the Reserve Payment Amount for such Class; (v) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the amount of any Net Mortgage Loan Interest ShortfallsShortfalls for such Class; (vi) with respect to the Class A-2 Notes, from amounts then on deposit in the Payment Account relating to the Class A-2 Notes, to the Holders of the Class A-2 Notes, the Class A-2 Available Funds Cap Carry-Forward Amount; and (vii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the related Payment Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Payment Date, if any.

Appears in 1 contract

Samples: Indenture (Prudential Securities Secured Financing Corp)

Payments; Statements. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement prepared by the Servicer Indenture Trustee on or before such Payment Date), for application on such Payment Date in respect of payments for the Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to it; (ii) from amounts then on deposit in the Payment Account, to the Note Insurer, the Premium Amount for such payment date; (iii) from amounts then on deposit in the Payment Account, to the Holders of the each Class of Notes, the Class A Interest Payment AmountAmount for such Class of Notes, such amount to be paid pro rata; (iv) from amounts then on deposit in the Payment Account, to the Holders of the each Class of Notes, the Class A Principal Payment AmountAmount for such Class of Notes, such amount to be paid pro rata; (v) from amounts then on deposit in the Payment Account (excluding any Insured Payments), to the Note Insurer, all Reimbursement Amounts which have not been previously paid as of such Payment Date and any other amounts then due to the Note Insurer pursuant to the Insurance Agreement; (vi) from amounts then on deposit in the Payment Account, to the Holders of the each Class of Notes, the amount of any Net Mortgage Loan Interest ShortfallsShortfalls for such Class of Notes, such amount to be paid pro rata; (vii) with respect to the Class A-2 Notes, from amounts then on deposit in the Payment Account, to the Holders of the Class A-2 Notes, the Class A-2 Available Funds Cap Carry-Forward Amount; and (viiviii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the Payment Account, the Indenture Trustee shall distribute to the Holders of the Trust Certificates, the amount remaining on such Payment Date, if any.

Appears in 1 contract

Samples: Indenture (Prudential Securities Secured Financing Corp)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account such amounts on deposit therein relating to the Indenture Trustee’s expenses and other amounts then due to it, including any payments with respect to reimbursement or indemnification due to the Indenture Trustee (subject to Section 6.16), and shall pay such amounts to itself. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee’s Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeNote Insurer, an amount equal the Premium; and to the Indenture Trustee Fees then due Backup Servicer, the Backup Servicing Fee for that Payment Date, in each case with respect to itthe related Class of Notes; (ii) from amounts then on deposit in the related Payment Account, to the Note InsurerHolders of the related Class of Notes, the Premium Interest Payment Amount for such payment dateClass; (iii) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the Class A Interest Base Principal Payment AmountAmount for such Class; (iv) from amounts then on deposit in the related Payment Account, as a payment of principal, an amount equal to the Overcollateralization Deficit, if any, for the related Class of Notes; (v) with respect to the other Class of Notes, from amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the Class A Principal Payment Amount; (v) from amounts then on deposit in Shortfall Amount for the Payment Account (excluding any Insured Payments), to the Note Insurer, all Reimbursement Amounts which have not been previously paid as of such Payment Date and any other amounts then due to the Note Insurer pursuant to the Insurance AgreementClass; (vi) from amounts then on deposit in the related Payment Account, to the Note Insurer, the Reimbursement Amount with respect to the related Class as of such Payment Date; (vii) from amounts then on deposit in the related Payment Account, to the Note Insurer, the Reimbursement Amount with respect to the other Class of Notes as of such Payment Date to the extent not already reimbursed pursuant to clause (iv) above; (viii) from amounts then on deposit in the related Payment Account, as a payment of the principal, an amount equal to the Overcollateralization Increase Amount for the related Class of Notes; (ix) from amounts then on deposit in the related Payment Account, to the related sub-account of the Reserve Account, the Reserve Payment Amount; (x) with respect to each class of Notes, from amounts then on deposit in the related Payment Account, the related Yield Maintenance Account and amounts released from the related sub-account of the Reserve Account, to the Holders of such Class of Notes, the related Available Funds Cap Carry-Forward Amount; (xi) from amounts then on deposit in the Payment Account related to a Class of Notes, to the Master Servicer, any amount due to it with respect to the related Group of Mortgage Loans; (xii) pro rata, from aggregate amounts then on deposit in both Payment Accounts, any amounts in respect of indemnity or reimbursement due the Indenture Trustee under any of the Basic Documents to the extent not previously paid or reimbursed hereunder; (xiii) from aggregate amounts then on deposit in both Payment Accounts, to the Owner Trustee, its Expenses as defined in Section 9.02 of the Trust Agreement, to the extent the Sponsor has not already paid to the Owner Trustee such Expenses; (xiv) from the aggregate amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the any amount of any Net Mortgage Loan due to them as an Interest ShortfallsReduction Carryforward Amount; and (viixv) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in each Payment Account and the Payment AccountYield Maintenance Accounts, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account and the Yield Maintenance Accounts, if any.

Appears in 1 contract

Samples: Indenture (Accredited Mortgage Loan Trust 2004-2)

Payments; Statements. On each Payment Date, the Indenture Trustee shall withdraw from each Payment Account, such amounts on deposit therein relating to the Indenture Trustee Fees, expenses and other amounts then due to it including any payments with respect to indemnification due to the Indenture Trustee, the Owner Trustee Fee, the Note Insurer Fee and the Primary Mortgage Insurance Provider Fee for such Payment Date and shall distribute such Owner Trustee Fee, Note Insurer Fee and Primary Mortgage Insurance Provider Fee as instructed in writing by the Master Servicer. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement Indenture Trustee's Remittance Report prepared by the Servicer Indenture Trustee on or before such Payment DateDate in reliance on the related Servicer Remittance Report), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) from amounts then on deposit in the related Payment Account, to the Indenture TrusteeHolders of the related Class of Notes, an amount equal to the Indenture Trustee Fees then due to itPayment Amount for such Class; (ii) from amounts then on deposit in the related Payment Account, to the Note Insurerallocable portion of the Over-collateralization Deficit, if any, for the Premium Amount for such payment daterelated Class of Notes; (iii) from amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the Class A Interest Payment AmountShortfall Amount for such other Class; (iv) from amounts then on deposit in the related Payment Account, to the Holders of the NotesNote Insurer, the Reimbursement Amount with respect to the related Class A Principal as of such Payment AmountDate; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments)Account, to the Note Insurer, all the Reimbursement Amounts which have not been previously paid Amount with respect to the other Class of Notes as of such Payment Date and any other amounts then due to the Note Insurer pursuant to the Insurance AgreementDate; (vi) from amounts then on deposit in the related Payment Account, the Over-collateralization Increase Amount for the related Class of Notes; (vii) from amounts then on deposit in the related Payment Account, to the Reserve Account, the Reserve Payment Amount; (viii) with respect to the Class A-2 Notes, from amounts then on deposit in the related Payment Account, to the Holders of the Class A-2 Notes, the Class A-2 Available Funds Cap Carry-Forward Amount; (ix) from: (A) amounts then on deposit in the Payment Account related to the Class A-1 Notes, to the Master Servicer, any amount of due to it with respect to the Group 1 Mortgage Loans, and (B) amounts then on deposit in the Payment Account related to the Class A-2 Notes, to the Master Servicer, any Net amount due to it with respect to the Group 2 Mortgage Loan Interest ShortfallsLoans; and (viix) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the each Payment Account, the Indenture Trustee shall distribute to the Holders of Certificateholders (as identified in the Trust CertificatesCertificate Register maintained by the Owner Trustee), the amount remaining on such Payment DateDate in each Payment Account, if any.

Appears in 1 contract

Samples: Indenture (Accredited Home Lenders Inc)

Payments; Statements. On each Payment Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in the each Payment Account on any Payment Date or Redemption Date shall be withdrawn from such Payment Account, in the amounts required (based on the Noteholder Statement 44 prepared by the Servicer Indenture Trustee on or before such Payment Date), for application on such Payment Date in respect of payments for the related Class of Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to itit with respect to the related Class of Notes; (ii) from amounts then on deposit in the related Payment Account, to the Note Insurer, the Premium Amount for such payment date; (iii) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the Class A Interest Payment AmountAmount for such Class; (iv) from amounts then on deposit in the Payment Account, to the Holders of the Notes, the Class A Principal Payment Amount; (v) from amounts then on deposit in the related Payment Account (excluding any Insured Payments), to the Note Insurer, all Reimbursement Amounts relating to such Class of Notes which have not been previously paid as of such Payment Date and any other amounts relating to such Class then due to the Note Insurer pursuant to the Insurance Agreement; (v) from amounts then on deposit in the related Payment Account, to the Cross-collateralization Reserve Account relating to the other Class of Notes, the Reserve Payment Amount for such Class; (vi) from amounts then on deposit in the related Payment Account, to the Holders of the related Class of Notes, the amount of any Net Mortgage Loan Interest ShortfallsShortfalls for such Class; (vii) from amounts then on deposit in the related Payment Account, to the Holders of the other Class of Notes, the amount of any Net Mortgage Loan Interest Shortfall for such other Class of Notes; (viii) with respect to the Class A-2 Notes, from amounts then on deposit in the Payment Account relating to the Class A-2 Notes, to the Holders of the Class A-2 Notes, the Class A-2 Available Funds Cap Carry-Forward Amount; and (viiix) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the related Payment Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Payment Date, if any.

Appears in 1 contract

Samples: Indenture (Prudential Securities Secured Financing Corp)

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