Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows: (i) The respective Classes of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period. (ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C7)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0A-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 A-4, Class A-5 and Class D Certificates Certificates, the EX XXXXX III Regular Interests (and correspondingly, the applicable Exchangeable Certificates) and the EC Trust Swap REMIC III Regular Interests (and correspondingly, the applicable EC Trust Swap Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes Classes, EX XXXXX III Regular Interests or EC Trust Swap REMIC III Regular Interests, an amount equal to, in the case of each such Class Class, EX XXXXX III Regular Interest or EC Trust Swap REMIC III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class Class, EX XXXXX III Regular Interest or EC Trust Swap REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates and the Swap Certificates) ), EX XXXXX III Regular Interests and all EC Trust Swap REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class Class, EX XXXXX III Regular Interest or EC Trust Swap REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0A-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 A-4, Class A-5 or Class D Certificates Certificates, EX XXXXX III Regular Interests (and correspondingly, the applicable Exchangeable Certificates) or EC Trust Swap REMIC III Regular Interests (and correspondingly, the applicable EC Trust Swap Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a the Class of Class X X-A Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X X-A Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest. Notwithstanding any of the foregoing to the contrary, all Prepayment Premiums, if any, distributed on any Swap REMIC III Regular Interest pursuant to this Section 6.10 shall be distributed by the Certificate Administrator on behalf of the Trustee to Holders of the Class of Swap Floating Rate Certificates (on the Business Day immediately prior to each Distribution Date (or on the Distribution Date if a related Swap Class Distribution Conversion shall have occurred)) and the Class of Swap Fixed Rate Certificates (on each Distribution Date) for which such Swap REMIC III Regular Interest is the Swap Corresponding REMIC Regular Interest, pro rata, in accordance with the Swap Floating Rate Percentage Interest for such Class of Swap Floating Rate Certificates and the Swap Fixed Rate Percentage Interest for such Class of Fixed Rate Certificates; provided, that at the time of any such distribution, unless a Swap Default of which the Certificate Administrator has actual knowledge or written notice has occurred and is continuing under the Swap Corresponding Agreement for such Swap REMIC III Regular Interest, any Prepayment Premiums otherwise allocated to such Class of Swap Floating Rate Certificates as set forth above will be payable to the Swap Counterparty under such Swap Corresponding Agreement, and on each Distribution Date after the occurrence and during the continuance of a Swap Default under such Swap Corresponding Agreement of which the Certificate Administrator has actual knowledge or written notice, any Prepayment Premiums allocated to such Class of Swap Floating Rate Certificates shall be distributable to the Holders of such Class of Swap Floating Rate Certificates.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0A-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC EX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC and EX XXXXX III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC EX XXXXX III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC EX XXXXX III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC EX XXXXX III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC EX XXXXX III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0A-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC EX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) in accordance with the immediately preceding clause (i) distributed (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal with respect to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal with respect to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and EX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; second, to the Holders of the Class X-B Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal with respect to the Class B REMIC III Regular Interest (and correspondingly, the Class B Certificates and the Class PST Component B) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal with respect to all EC Trust REMIC Classes of Principal Balance Certificates (other than the Exchangeable Certificates) and EX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B C Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A and Class X-B Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C13)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0A-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC EX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC and EX XXXXX III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC EX XXXXX III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC EX XXXXX III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC EX XXXXX III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC EX XXXXX III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0A-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC EX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) in accordance with the immediately preceding clause (i) distributed (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC EX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B C Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (COMM 2013-Lc13 Mortgage Trust)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to itself by the Certificate Administrator Trustee on the following Distribution Date as follows:
: (i) The first, the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Trustee shall be deemed to distribute to itself, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On each Distribution Date any portion of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust X-1 Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 HQ5)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 A-4, Class A-5 and Class D Certificates and the EC Trust REMIC XX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC and XX XXXXX III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC XX XXXXX III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC XX XXXXX III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC XX XXXXX III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC XX XXXXX III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 A-4, Class A-5 or Class D Certificates or EC Trust REMIC XX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) in accordance with the immediately preceding clause (i) distributed (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal with respect to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal with respect to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and XX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; second, to the Holders of the Class X-B Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal with respect to the Class B REMIC III Regular Interest (and correspondingly, the Class B Certificates and the Class PST Component B) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal with respect to all EC Trust REMIC Classes of Principal Balance Certificates (other than the Exchangeable Certificates) and XX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B C Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A and Class X-B Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C16)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The Holders of the respective Classes of the Class X-0, Xxxxx X-0A-1, Class A-ABA-2, Class A-3, Class A-4 A-4, Class A-S, Class B, Class C, Class D and Class D E Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (A) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular InterestClass, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to the Holders of any Class of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Holders of the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2012-C4)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0A-0, Xxxxx X-0, Class A-AB, Class A-3, A-3 and Class A-4 and Class D Certificates and the EC Trust REMIC EX XXXXX III Regular Interests Interest (and correspondingly, the applicable EC Trust Exchangeable Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust the Class A-S REMIC III Regular InterestsInterest, an amount equal to, in the case of each such Class or EC Trust REMIC the EX XXXXX III Regular InterestInterests, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC the EX XXXXX III Regular Interest Interests on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC the EX XXXXX III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC the EX XXXXX III Regular InterestInterests, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0A-0, Xxxxx X-0, Class A-AB, Class A-3, A-3 and Class A-4 or Class D Certificates or EC Trust REMIC and the EX XXXXX III Regular Interests Interest (and correspondingly, the applicable EC Trust Exchangeable Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC EX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C10), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C12), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C11)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 A-4, Class A-5 and Class D Certificates and the EC Trust REMIC XX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC and XX XXXXX III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC XX XXXXX III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC XX XXXXX III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC XX XXXXX III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC XX XXXXX III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 A-4, Class A-5 or Class D Certificates or EC Trust REMIC XX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.distributed
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C14)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced a Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before February 2008, 85% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 15% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to February 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Ser 2003 Top9), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Ser 2003 Top9)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On each Distribution Date any portion of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust X-1 Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC XX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC and XX XXXXX III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC XX XXXXX III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC XX XXXXX III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and all EC Trust REMIC XX XXXXX III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC XX XXXXX III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-ABSB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC XX XXXXX III Regular Interests (and correspondingly, the applicable EC Trust Exchangeable Certificates) in accordance with the immediately preceding clause (i) distributed (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal with respect to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal with respect to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Exchangeable Certificates) and XX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; second, to the Holders of the Class X-B Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal with respect to the Class B REMIC III Regular Interest (and correspondingly, the Class B Certificates and the Class PST Component B) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal with respect to all EC Trust REMIC Classes of Principal Balance Certificates (other than the Exchangeable Certificates) and XX XXXXX III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B C Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A and Class X-B Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2014-C15)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0, Xxxxx X-0A-1, Class A-ABA-2, Class A-3, Class A-4 A-4, Class D and Class D E Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0A-1, Class A-ABA-2, Class A-3, Class A-4 A-4, Class D or Class D E Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; second, to the Holders of the Class X-B Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class B REMIC III Regular Interest (and correspondingly, the Class B Certificates and the Class PST Component B) and the Class C REMIC III Regular Interest (and correspondingly, the Class C Certificates and the Class PST Component C) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B C Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A and Class X-B Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C6)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which whose Prepayment Premium is payable belongs to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0G, Class A-ABH, Class A-3J, Class A-4 K, Class L, Class M and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyN Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . If there is more than one such Class of Principal Balance Certificates entitled to distributions of principal on such Distribution Date, the aggregate amount described in the preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the relative amounts of entitlement to such distributions of principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class 143 O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in November 2009, 80% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 20% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to November 2009, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Top16), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Top16)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in January 2010, 70% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 30% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to January 2010, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005 TOP 17)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The Holders of the respective Classes of the Class X-0, Xxxxx X-0A-1, Class A-ABA-2, Class A-3, Class A-4 A-4, Class A-J, Class B, Class C, Class D and Class D E Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (A) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular InterestClass, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to the Holders of any Class of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Holders of the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2011-C3)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in July 2008, 85% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 15% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to July 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust Series 2004-Top15), Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0A-1, Xxxxx X-0Class A-2, Class A-ABSB, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0A-1, Xxxxx X-0Class A-2, Class A-ABSB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C8)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-4FL, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N, Class O and Class D Certificates P Certificates) and the EC Trust REMIC III Class A-4FL Regular Interests (and correspondinglyInterest, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of such Principal Balance Certificates or the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III A-4FL Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) Interest will be distributed to the Holders of the respective Classes of the Class X Certificates Certificates. For so long as follows: first, to the Holders of the Class X-A Certificates Swap Contract or any replacement Swap Contract is in an amount equal to the product of (A) a fractioneffect, the numerator of which is the total amount distributed as principal Prepayment Premium allocated to the Class A Senior Certificates A-4FL Regular Interest shall be payable to the Swap Counterparty pursuant to the terms of the Swap Contract. If the Swap Contract and any replacement Swap Contracts are no longer in effect, any Prepayment Premium allocated to the Class A-S REMIC III A-4FL Regular Interest (and correspondingly, shall be distributed to the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust A-4FL Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top18), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top18)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyN Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the amount distributed as principal excess, if any, of the Pass-Through Rate applicable to that the most senior of such Classes of Certificates then outstanding (or, if more than one of the Classes of Class or EC Trust REMIC III Regular Interest on that Distribution DateA Certificates are outstanding, the Class with the lowest numerical designation), over the relevant Discount Rate, and the denominator of which is the total amount distributed as principal equal to the Holders excess, if any, of all Classes the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate. If there is more than one such Class of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests entitled to distributions of principal on that such Distribution Date, multiplied by (B) the Base Interest Fraction for aggregate amount described in the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the amount relative amounts of the Prepayment Premium collected in respect entitlement to such distributions of such Principal Prepayment during the related Collection Period.
(ii) principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc), Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Ser 2001-Top1)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0, Xxxxx X-0A-1, Class A-ABA-2, Class A-3, Class A-4 A-4, Class D and Class D E Certificates and the EC Trust Class PST REMIC III Regular Interests (and correspondingly, the applicable EC Trust Class A-S, Class B, Class PST and Class C Certificates, as applicable) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust and Class PST REMIC III Regular InterestsInterests (and correspondingly, the Class A-S, Class B, Class PST and Class C Certificates, as applicable), an amount equal to, in the case of each such Class or EC Trust Class PST REMIC III Regular InterestInterest (and correspondingly, the Class A-S, Class B, Class PST and Class C Certificates, as applicable), the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or EC Trust Class PST REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust Class PST REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0A-1, Class A-ABA-2, Class A-3, Class A-4 A-4, Class D or Class D E Certificates or EC Trust Class PST REMIC III Regular Interests Interest (and correspondingly, the applicable EC Trust Class A-S, Class B, Class PST and Class C Certificates, as applicable) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior A-1, Class A-2, Class A-3 and Class A-4 Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the correspondingly to the
Class A-A- S Certificates and the Class PST Component A-SCertificates) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates on the applicable Distribution Date, multiplied by (other than B) the EC Trust Certificatesapplicable Class X YM Distribution Amount; second, to the Holders of the Class X-B Certificates in an amount equal to the product of (A) and all EC Trust a fraction, the numerator of which is the total amount distributed as principal to the Class B REMIC III Regular Interests Interest (and correspondingly to the Class B and Class PST Certificates) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B C Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A and Class X-B Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all All distributions of Prepayment Premiums, if any, distributed on made with respect to the Class A-S REMIC III Regular Interest on such any Distribution Date Date, pursuant to this Section 6.10 6.10, shall be further distributed by the Certificate Administrator on behalf made, and shall be deemed to have been made, in respect of the Trustee Class PST Component A-S (and correspondingly, to the Holders of Class PST Certificates) and the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all All distributions of Prepayment Premiums, if any, distributed on made with respect to the Class B REMIC III Regular Interest on such any Distribution Date Date, pursuant to this Section 6.10 6.10, shall be further distributed by the Certificate Administrator on behalf of the Trustee made, and shall be deemed to the Holders have been made, in respect of the Class PST Component B Certificates (and correspondingly, to the Class PST Certificates) and the Class PST B Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all All distributions of Prepayment Premiums, if any, distributed on made with respect to the Class C REMIC III Regular Interest on such any Distribution Date Date, pursuant to this Section 6.10 6.10, shall be further distributed by the Certificate Administrator on behalf of the Trustee made, and shall be deemed to the Holders have been made, in respect of the Class PST Component C Certificates (and correspondingly, to the Class PST Certificates) and the Class PST C Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest. Distributions of Prepayment Premiums made on the Class PST Components will correspondingly be made to the Class PST Certificates.
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5), Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2012-C5)
Prepayment Premiums. Any Subject to Section 6.11(b) with respect to Prepayment Premiums collected on the Millenium Portfolio Mortgage Loan and Section 6.11(c) with respect to Prepayment Premiums collected on the Ritz-Carlton Pari Passu Loan, any Prepayment Premium collected with respect to a Mortgage respxxx xx x Xxxtgage Loan (but not a other than the DCT Industrial Portfolio C Note or 633 17th Street B Note Note) or the DCT Industrial Portfolio Mortgage Loxx (xxx xxx x X Xote or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan (other than the DCT Industrial Portfolio C Note or 633 17th Street B Note) or the DCT Industrial Portfolio Mortgage Loxx xxxxxxx, xxx Xrepayment Premiums collected on or with respect to such Mortgage Loan (other than the DCT Industrial Portfolio C Note or 633 17th Street B Note) or the DCT Industrial Portfolio Mortgage Loxx; xxx (xx) xxxxnd, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, (x) in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-1A, Class A-ABL, Class A-3M, Class A-4 N, Class O, Class P, Class Q, Class S, Class DP and Class D Certificates ST Certificates) and the EC Trust REMIC III Class A-4FL Regular Interests (and correspondinglyInterest, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all such Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of all such 181 Prepayment Premiums collected with respect to the Mortgage Loans (other than the DCT Industrial Portfolio C Note or 633 17th Street B Note) during the related Collection Period and (y) xx xxxxxxx xx xny Prepayment Premium Premiums collected in respect of such Principal Prepayment each Mortgage Loan included in Loan Group 2 during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (Aa) a fraction, the numerator of which is the total amount distributed as principal to the Holders of that Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes the Class A-1A Certificates on that Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and that Class of Principal Balance Certificates and (c) the aggregate amount of Prepayment Premiums collected with respect to the Mortgage Loans (other than the EC Trust DCT Industrial Portfolio C Note or 633 17th Street B Note) during the related Collection Period. Any pxxxxxx xx xxxx Xxepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates or the Class A-4FL Regular Interest (other than the Class DP and the Class ST Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X Certificates. For so long as the Swap Contract or any replacement Swap Contract is in an amount equal effect, the Prepayment Premium allocated to any portion the Class A-4FL Regular Interest shall be payable to the Swap Counterparty pursuant to the terms of the applicable Class X YM Distribution Amount remaining after Swap Contract. If the foregoing distribution Swap Contract and any replacement Swap Contracts are no longer in effect, any Prepayment Premium allocated to the Holders of Class A-4FL Regular Interest shall be distributed to the Class X-A A-4FL Certificates. All distributions of Any Prepayment Premiums, if any, made Premium or Yield Maintenance Charges collected with respect to a Class of Class X Certificates on the DCT Industrial Portfolio C Note during any Distribution Date, pursuant to this Section 6.10, shall particular Collection Period will be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator Paying Agent on behalf of the Trustee to the Holders of the Class A-S DP Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interestaggregate amount of Prepayment Premiums or Yield Maintenance Charges collected with respect to the DCT Industrial Portfolio C Note during the related Collection Period. On each Distribution Date, all Any Prepayment Premiums, if any, distributed on Premium or Yield Maintenance Charges collected with respect to the Class 633 17th Street B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by Note during any particular Collection Period will xx xxxxxxxxxxx xy the Certificate Administrator Paying Agent on behalf of the Trustee to the Holders of the Class B ST Certificates and then entitled to distributions of principal from the Principal Distribution Amount with respect to the Class PST CertificatesST Certificates for the related Distribution Date, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectivelyin an amount equal to, in the case of each such Class, the product of (a) a fraction, the numerator of which is the amount distributed as principal to the holders of such Class of Class ST Certificates on that Distribution Date and the denominator of which is the total amount distributed as principal to the holders of all Classes of Class ST Certificates on that Distribution Date and (b) the aggregate amount of Prepayment Premiums or Yield Maintenance Charges collected with respect to the 633 17th Street B REMIC III Regular InterestNote during the related Collection Period. On each If thexx xx xxxx xxxx xne such Class of Class ST Certificates entitled to distributions of principal on such Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, aggregate amount described in the Class C REMIC III Regular Interestpreceding sentence will be allocated among such Classes on a pro rata basis in accordance with the relative amounts of entitlement to such distribution of principal.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006 - HQ9)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 and Class D Certificates and Certificates, the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) and the Swap REMIC III Regular Interests (and correspondingly, the applicable Swap Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or Classes, EC Trust REMIC III Regular Interests or Swap REMIC III Regular Interests, an amount equal to, in the case of each such Class or Class, EC Trust REMIC III Regular Interest or Swap REMIC III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or Class, EC Trust REMIC III Regular Interest or Swap REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates and the Swap Certificates) and all ), EC Trust REMIC III Regular Interests and Swap REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or Class, EC Trust REMIC III Regular Interest or Swap REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or Certificates, EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) or Swap REMIC III Regular Interests (and correspondingly, the applicable Swap Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates (other than the Swap Certificates), the Class A-3FL REMIC III Regular Interest (and correspondingly, to the Class A-3FL Certificates and the Class A-3FX Certificates) and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates and Swap Certificates) and all ), EC Trust REMIC III Regular Interests and Swap REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest. Notwithstanding any of the foregoing to the contrary, all Prepayment Premiums, if any, distributed on any Swap REMIC III Regular Interest pursuant to this Section 6.10 shall be distributed by the Certificate Administrator on behalf of the Trustee to Holders of the Class of Swap Floating Rate Certificates (on the Business Day immediately prior to each Distribution Date (or on the Distribution Date if a related Swap Class Distribution Conversion shall have occurred)) and the Class of Swap Fixed Rate Certificates (on each Distribution Date) for which such Swap REMIC III Regular Interest is the Swap Corresponding REMIC Regular Interest, pro rata, in accordance with the Swap Floating Rate Percentage Interest for such Class of Swap Floating Rate Certificates and the Swap Fixed Rate Percentage Interest for such Class of Fixed Rate Certificates; provided, that at the time of any such distribution, unless a Swap Default of which the Certificate Administrator has actual knowledge or written notice has occurred and is continuing under the Swap Corresponding Agreement for such Swap REMIC III Regular Interest, any Prepayment Premiums otherwise allocated to such Class of Swap Floating Rate Certificates as set forth above will be payable to the Swap Counterparty under such Swap Corresponding Agreement, and on each Distribution Date after the occurrence and during the continuance of a Swap Default under such Swap Corresponding Agreement of which the Certificate Administrator has actual knowledge or written notice, any Prepayment Premiums allocated to such Class of Swap Floating Rate Certificates shall be distributable to the Holders of such Class of Swap Floating Rate Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed by to the Certificate Administrator Trustee on the following Distribution Date as follows:
: (i) The first, the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Trustee shall be deemed to distribute to itself, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0L, Class A-ABM, Class A-3N, Class A-4 O, Class P, Class Q and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyS Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in March 2008, 92% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 8% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to March 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Capital I Tr 2004-Hq3)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion LoanNote, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicableNote) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before June 2006, 85% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 15% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to June 2006, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Series 2002 Top7)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-1A, Class A-ABL, Class A-3M, Class A-4 N, Class O, Class P, Class Q and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyS Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all such Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the all such Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion . Following such deemed distributions, in respect of any such Prepayment Premium that is not so distributed to any Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the Class X-0related Collection Period, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (Aa) a fraction, the numerator of which is the total amount distributed as principal to the Holders of that Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes the Class A-1A Certificates on that Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (c) the aggregate amount of Prepayment Premiums collected during the related Collection Period. Any portion of such Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq7)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0K, Class A-ABL, Class A-3M, Class A-4 N, Class O, Class P and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyQ Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Class LF Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Top20)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder Holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0J, Xxxxx X-0Class K, Class L, Class M, Class N, Class O and Class P Certificates), the Class clx
A- 4FL Regular Interest and the Class A-ABMFL Regular Interest, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all such Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the all such Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion . Following such deemed distributions, in respect of any such Prepayment Premium that is not so distributed to any Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the Class X-0related Collection Period, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (Aa) a fraction, the numerator of which is the total amount distributed as principal to the Holders of that Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes the Class A-1A Certificates on that Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (c) the aggregate amount of Prepayment Premiums collected during the related Collection Period. Any portion of such Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates (other than or the EC Trust Certificates) and all EC Trust REMIC III Class A-4FL Regular Interests on Interest or the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, A-MFL Regular Interest will be distributed to the Holders of the Class X-B Certificates X Certificates. On any Distribution Date on or before the Distribution Date in an amount equal to any portion November 2010, 94% of the applicable Class X YM Distribution Amount remaining after Prepayment Premium that is not so distributed to the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X X-1 Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect 6% of the various Class X REMIC III Regular Interests Prepayment Premium that relate is not so distributed to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts Holders of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, Principal Balance Certificates will be distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and X-2 Certificates. After the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant in November 2010, any portion of such Prepayment Premium that is not so distributed to this Section 6.10 shall the Holders of such Principal Balance Certificates will be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.X-1
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq10)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion LoanNote, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicableNote) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0G, Class A-ABH, Class A-3J, Class A-4 K, Class L, Class M and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyN Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before April 2005, 87% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 13% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to April 2005, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Series 2001-Top)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder Holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Top23)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced the WestShore Plaza Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced holder of the WestShore Plaza Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the Xxxxxxx Xxxx Loan REMIC Regular Interest any Prepayment Premiums collected on or with respect to the Xxxxxxx Xxxx Loan; (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Majority Mortgage Loan or Xxxxxxx Xxxx Loan REMIC Regular Interest relates, any Prepayment Premiums collected on or with respect to such Majority Mortgage Loan or Xxxxxxx Xxxx Loan REMIC Regular Interest; and (iii) third, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions or the deposit of Xxxxxxx Xxxx Yield Maintenance Amounts into the Xxxxxxx Xxxx Sub-account pursuant to Section 5.2(a)(I)(xi), the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class (or EC Trust REMIC III Regular Interestin the case of any Xxxxxxx Xxxx Yield Maintenance Amounts, only to the Holders of the Class A-1 Certificates), the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums (or Xxxxxxx Xxxx Yield Maintenance Amounts, if applicable) collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium (or Xxxxxxx Xxxx Yield Maintenance Amounts, if applicable) that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in October 2007, 70% of the Class X Prepayment Premium (or Xxxxxxx Xxxx Yield Maintenance Amounts, if applicable) that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 30% of the Class A-S REMIC III Regular Interest Prepayment Premium (and correspondinglyor Xxxxxxx Xxxx Yield Maintenance Amounts, the Class A-S Certificates and the Class PST Component A-Sif applicable) on the applicable Distribution Date, and the denominator of which that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.X-2
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mort Sec Tru 2003-Top12)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced the Federal Center Plaza Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced holder of the Federal Center Plaza Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before April 2008, 85% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 15% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to April 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2003-Top10)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder Holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, (A) any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period shall be distributed by the Paying Agent on the Classes of Certificates as follows: to the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-1A, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Class A-1A Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of all such Prepayment Premiums collected from the Mortgage Loans in Loan Group 1 during the related Collection Period and (B) any Prepayment Premium Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the related Collection Period shall be distributed by the Paying Agent on the Classes of Certificates as follows: to the Holders of the Class A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (a) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (b) the aggregate amount of Prepayment Premiums collected from the Mortgage Loans in Loan Group 2 during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium (from either Loan Group 1 or Loan Group 2) that is not so distributed to any the Holders of such Principal Balance Certificates pursuant to clauses (A) or (B) of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) sentence will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Top25)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion LoanNote, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicableNote) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0G, Class A-ABH, Class A-3J, Class A-4 K, Class L, Class M and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyN Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before July 2005, 85% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 15% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to July 2005, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2002 Top6)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not (A) a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder Holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicableapplicable or (B) any Extension Term Prepayment Premiums, which shall be distributed to the Holders of the Class P Certificates) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, (A) any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period shall be distributed by the Paying Agent on the Classes of Certificates as follows: to the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-1A, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Class A-1A Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of all such Prepayment Premiums collected from the Mortgage Loans in Loan Group 1 during the related Collection Period and (B) any Prepayment Premium Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the related Collection Period shall be distributed by the Paying Agent on the Classes of Certificates as follows: to the Holders of the Class A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (a) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (b) the aggregate amount of Prepayment Premiums collected from the Mortgage Loans in Loan Group 2 during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium (from either Loan Group 1 or Loan Group 2) that is not so distributed to any the Holders of such Principal Balance Certificates pursuant to clauses (A) or (B) of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) sentence will be distributed to the Holders of the respective Classes Class X Certificates. Any Extension Term Prepayment Premiums will be distributed to the holders of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust P Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq13)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by the Certificate Administrator on the following Distribution Date as follows:
(i) The respective Classes of the Class X-0A-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 and Class D Certificates and Certificates, the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) and the Swap REMIC III Regular Interests (and correspondingly, the applicable Swap Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or Classes, EC Trust REMIC III Regular Interests or Swap REMIC III Regular Interests, an amount equal to, in the case of each such Class or Class, EC Trust REMIC III Regular Interest or Swap REMIC III Regular Interest, the product of (A) a fraction, the numerator of which is the amount distributed as principal to that Class or Class, EC Trust REMIC III Regular Interest or Swap REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates and the Swap Certificates) and all ), EC Trust REMIC III Regular Interests and Swap REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or Class, EC Trust REMIC III Regular Interest or Swap REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0A-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or Certificates, EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) or Swap REMIC III Regular Interests (and correspondingly, the applicable Swap Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates (other than the Swap Certificates), the Class A-3FL REMIC III Regular Interest (and correspondingly, to the Class A-3FL Certificates and the Class A-3FX Certificates) and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates and Swap Certificates) and all ), EC Trust REMIC III Regular Interests and Swap REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest. Notwithstanding any of the foregoing to the contrary, all Prepayment Premiums, if any, distributed on any Swap REMIC III Regular Interest pursuant to this Section 6.10 shall be distributed by the Certificate Administrator on behalf of the Trustee to Holders of the Class of Swap Floating Rate Certificates (on the Business Day immediately prior to each Distribution Date (or on the Distribution Date if a related Swap Class Distribution Conversion shall have occurred)) and the Class of Swap Fixed Rate Certificates (on each Distribution Date) for which such Swap REMIC III Regular Interest is the Swap Corresponding REMIC Regular Interest, pro rata, in accordance with the Swap Floating Rate Percentage Interest for such Class of Swap Floating Rate Certificates and the Swap Fixed Rate Percentage Interest for such Class of Fixed Rate Certificates; provided, that at the time of any such distribution, unless a Swap Default of which the Certificate Administrator has actual knowledge or written notice has occurred and is continuing under the Swap Corresponding Agreement for such Swap REMIC III Regular Interest, any Prepayment Premiums otherwise allocated to such Class of Swap Floating Rate Certificates as set forth above will be payable to the Swap Counterparty under such Swap Corresponding Agreement, and on each Distribution Date after the occurrence and during the continuance of a Swap Default under such Swap Corresponding Agreement of which the Certificate Administrator has actual knowledge or written notice, any Prepayment Premiums allocated to such Class of Swap Floating Rate Certificates shall be distributable to the Holders of such Class of Swap Floating Rate Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Bank of America Merrill Lynch Trust 2013-C9)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder Holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in October 2011, 59% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 41% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to October 2011, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Top24)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates. On any Distribution Date on or before the Distribution Date in August 2012, 80% of such Prepayment Premiums remaining after those distributions to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 20% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal Prepayment Premiums remaining after those distributions to the Holders of all Classes of such Principal Balance Certificates (other than will be distributed to the EC Trust holders of the Class X-2 Certificates) and all EC Trust REMIC III Regular Interests on . After the applicable Distribution DateDate in August 2010, multiplied by (B) the applicable Class X YM Distribution Amount; and then, any of such Prepayment Premiums remaining after those distributions to the Holders of the Class X-B such Principal Balance Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution will be distributed to the Holders holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder Holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as Holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, (A) any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period shall be distributed by the Paying Agent on the Classes of Certificates as follows: to the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-1A, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsDate, an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Class A-1A Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of all such Prepayment Premiums collected from the Mortgage Loans in Loan Group 1 during the related Collection Period and (B) any Prepayment Premium Premiums collected in respect of such Principal Prepayment each Mortgage Loan included in Loan Group 2 during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will Period shall be distributed to by the Holders of Paying Agent on the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (Aa) a fraction, the numerator of which is the total amount distributed as principal to the Holders of that Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes the Class A-1A Certificates on that Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (c) the aggregate amount of Prepayment Premiums collected from the Mortgage Loans in Loan Group 2 during the related Collection Period. Any portion of any such Prepayment Premium (from either Loan Group 1 or Loan Group 2) that is not so distributed to the Holders of such Principal Balance Certificates pursuant to clauses (other than the EC Trust CertificatesA) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by or (B) of the applicable Class X YM Distribution Amount; and then, preceding sentence will be distributed to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage SecuritiesTrust 2006-Top22)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in May 2009, 70% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 30% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to May 2009, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Sec Inc Trust 2004 Top14)
Prepayment Premiums. Any Prepayment Premium and Seller Partial Prepayment Premiums collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed by the Certificate Administrator Trustee on the following Distribution Date as follows:
: the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interests any Prepayment Premiums to the REMIC I Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (i) The or, if more than one Class of REMIC I Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0G, Class A-ABH, Class A-3J, Class A-4 K, Class L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (A) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest class on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (C) the aggregate amount of the Prepayment Premium Premiums and Seller Partial Prepayment Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . If there is more than one such Class of Principal Balance Certificates entitled to distributions of principal on such Distribution Date, the aggregate amount described in the preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the relative amounts of entitlement to such distributions of principal. Any portion of any such Prepayment Premium and Seller Partial Prepayment Premium that is are not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions The amount of any Seller Partial Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, Premium distributed in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all any Seller Partial Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 Premium Obligation shall be further treated as distributed by from the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates Grantor Trust and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S not from either REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular InterestPool.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Trust 2001-PPM)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The respective Classes first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class X-0of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, Xxxxx X-0such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal); and (iii) third, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC III Regular Interests, any Prepayment Premiums deemed distributed to the REMIC II Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC III Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class A-AB, Class A-3, Class A-4 and Class D Certificates and the EC Trust of REMIC III Regular Interests (and correspondinglyis then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the applicable EC Trust Holders of the respective Classes of Principal Balance Certificates) , other than the Class H, Class J, Class K, Class L and Class M Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the amount distributed as principal excess, if any, of the Pass-Through Rate applicable to that the most senior of such Classes of Certificates then outstanding (or, if both Classes of Class or EC Trust REMIC III Regular Interest on that Distribution DateA Certificates are outstanding, the Class A-1 Certificates), over the relevant Discount Rate, and the denominator of which is the total amount distributed as principal equal to the Holders excess, if any, of all Classes the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate. If there is more than one such Class of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests entitled to distributions of principal on that such Distribution Date, multiplied by (B) the Base Interest Fraction for aggregate amount described in the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the amount relative amounts of the Prepayment Premium collected in respect entitlement to such distributions of such Principal Prepayment during the related Collection Period.
(ii) principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance . The Trustee shall not be responsible for the Paying Agent's failure to comply with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestany withholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Series 2000 Life1)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced the RSA Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced holder of the RSA Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyN Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before August 2008, 81% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 19% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to August 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2003-Top 11)
Prepayment Premiums. On each Distribution Date, the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interests, any Prepayment Premiums collected on or with respect to the Mortgage Loans. On each Distribution Date, the Trustee shall be deemed to distribute to itself, as holder of the REMIC II Regular Interests, any Prepayments Premiums deemed distributed to the REMIC I Regular Interests, to be deemed distributed to the REMIC II Regular 92 100 Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of such REMIC II Regular Interests is entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed to be allocated among such Classes on a pro rata basis in accordance with the relative amounts of such deemed distributions of principal). Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by to the Certificate Administrator REMIC Regular Certificates on the following Distribution Date as follows:
(i) : The Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0F, Class A-ABG, Class A-3H, Class A-4 J, Class K and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyL Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (x) the lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the excess, if any, of the Pass-Through Rate applicable to the most senior of such Classes of Certificates then outstanding (or, if both Classes of Class A Certificates are outstanding, the Class A-1 Certificates), over the relevant Discount Rate, and the denominator of which is equal to the excess, if any, of the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate and (y) a fraction, expressed as a percentage, the numerator of which is the amount distributed as of the distribution of principal made to that such Class or EC Trust REMIC III Regular Interest on that such Distribution Date, Date and the denominator of which is the total amount distributed as principal equal to the Holders aggregate distributions of principal made to all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (B) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) the amount of the Prepayment Premium collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Distribution. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust X-1 Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0A-1A, Class A-ABL, Class A-3M, Class A-4 N, Class O, Class P, Class Q and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyS Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (Certificates, other than the EC Trust Class A-1A, Class L, Class M, Class N, Class O, Class P, Class Q and Class S Certificates) and all EC Trust REMIC III Regular Interests , on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion . Following such deemed distributions, in respect of any such Prepayment Premium that is not so distributed to any Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the Class X-0related Collection Period, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to to, in the case of each such Class, the product of (Aa) a fraction, the numerator of which is the total amount distributed as principal to the holders of that Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable that Distribution Date, and the denominator of which is the total amount distributed as principal to the holders of the Class A-1A Certificates on that Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (c) the aggregate amount of Prepayment Premiums collected during the related Collection Period. Any portion of such Prepayment Premium that is not so distributed to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X Certificates. On any Distribution Date on or before the Distribution Date in an amount equal to any portion August 2010, 80% of the applicable Class X YM Distribution Amount such Prepayment Premiums remaining after those distributions to the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X X-1 Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect 20% of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee Premiums remaining after those distributions to the Holders of such Principal Balance Certificates will be distributed to the holders of the Class A-S Certificates and X-2 Certificates. After the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf in August 2010, any of the Trustee such Prepayment Premiums remaining after those distributions to the Holders of the Class B such Principal Balance Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, will be distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders holders of the Class C Certificates and the Class PST X-1 Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2005-Hq6)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced the Xxxx Xxxxx Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced holder of the Xxxx Xxxxx Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before March 2008, 55% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 45% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to March 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Ser 2003 Hq2)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed by the Certificate Administrator Trustee on the following Distribution Date as follows:
(i) The first, the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Trustee shall be deemed to distribute to itself, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the amount distributed as principal excess, if any, of the Pass-Through Rate applicable to that the most senior of such Classes of Certificates then outstanding (or, if both Classes of Class or EC Trust REMIC III Regular Interest on that Distribution DateA Certificates are outstanding, the Class A-1 Certificates), over the relevant Discount Rate, and the denominator of which is the total amount distributed as principal equal to the Holders excess, if any, of all Classes the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate. If there is more than one such Class of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests entitled to distributions of principal on that such Distribution Date, multiplied by (B) the Base Interest Fraction for aggregate amount described in the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the amount relative amounts of the Prepayment Premium collected in respect entitlement to such distributions of such Principal Prepayment during the related Collection Period.
(ii) principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Depositor for Ser 1999-Life1)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in February 2008, 70% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 30% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to February 2008, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stan Dean Wit Cap Com Mort Ps THR CRTS Ser 2003-Top13)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0L, Xxxxx X-0Class M, Class N, Class O, Class P, Class Q and Class S Certificates), the Class A-4FL Regular Interest and the Class A-ABMFL Regular Interest, Class A-3, Class A-4 and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all such Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by and (Cc) the aggregate amount of the all such Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
. Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the related Collection Period, the Holders of the Class A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (iia) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (b) the aggregate amount of Prepayment Premiums collected during the related Collection Period. Any portion of any such Prepayment 155 Premium that is not so distributed to any the Holders of such Principal Balance Certificates, the Class X-0, Xxxxx X-0, A-4FL Regular Interest or the Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III MFL Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) Interest will be distributed to the Holders of the respective Classes of Class X Certificates. For so long as the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates A-4FL Swap Contract and the Class A-S REMIC III Regular Interest (and correspondinglyMFL Swap Contract, or any replacement Swap Contract, are in effect, the Class A-S Certificates and Prepayment Premium allocated to the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III A-4FL Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage InterestMFL Regular Interest shall be payable to the Swap Counterparty pursuant to the terms of the related Swap Contract. If the Class A-4FL Swap Contract, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution DateMFL Swap Contract or any replacement Swap Contracts are no longer in effect, all any Prepayment Premiums, if any, distributed on Premium allocated to the Class B REMIC III A-4FL Regular Interest on such Distribution Date pursuant to this Section 6.10 or the Class A-MFL Regular Interest shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of Class A-4FL Certificates or the Class B Certificates and the Class PST A-MFL Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq11)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed by to the Certificate Administrator Trustee on the following Distribution Date as follows:
: (i) The first, the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Trustee shall be deemed to distribute to itself, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the amount distributed as principal excess, if any, of the Pass-Through Rate applicable to that the most senior of such Classes of Certificates then outstanding (or, if both Classes of Class or EC Trust REMIC III Regular Interest on that Distribution DateA Certificates are outstanding, the Class A-1 Certificates), over the relevant Discount Rate, and the denominator of which is the total amount distributed as principal equal to the Holders excess, if any, of all Classes the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate. If there is more than one such Class of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests entitled to distributions of principal on that such Distribution Date, multiplied by (B) the Base Interest Fraction for aggregate amount described in the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the amount relative amounts of the Prepayment Premium collected in respect entitlement to such distributions of such Principal Prepayment during the related Collection Period.
(ii) principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced a Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced holder of the Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0G, Class A-ABH, Class A-3J, Class A-4 K, Class L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before July 2005, 87% of the Class X Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 13% of the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which Prepayment Premium that is the total amount not so distributed as principal to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates X-2 Certificates. After the Distribution Date in an amount equal to July 2005, any portion of such Prepayment Premium that is not so distributed to the applicable Class X YM Distribution Amount remaining after the foregoing distribution Holders of such Principal Balance Certificates will be distributed to the Holders of the Class X-A X-1 Certificates. All distributions of Prepayment Premiums, if any, made The Trustee shall not be responsible for the Paying Agent's failure to comply with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestwithholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep Series 2002-Hq)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced the WestShore Plaza Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced holder of the WestShore Plaza Companion Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the Kimball Lane Loan REMIC Regular Interest any Prepayment Premiums coxxxxxxx xx xr with respect to the Kimball Lane Loan; (ii) second, the Paying Agent shall be deemed to xxxxxxxxxx to the Trustee, as holder of the REMIC I Regular Interest to which such Majority Mortgage Loan or Kimball Lane Loan REMIC Regular Interest relates, any Prepayment Prxxxxxx xxxxxcted on or with respect to such Majority Mortgage Loan or Kimball Lane Loan REMIC Regular Interest; and (iii) third, the Payixx Xxxxx xxxll be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions or the deposit of Kimball Lane Yield Maintenance Amounts into the Kimball Lane Sub-acxxxxx xxxxxxnt to Section 5.2(a)(I)(xi), the Holxxxx xx xxx respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0H, Class A-ABJ, Class A-3K, Class A-4 L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class (or EC Trust REMIC III Regular Interestin the case of any Kimball Lane Yield Maintenance Amounts, only to the Holders of the Xxxxx X-0 Xxrtificates), the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the Prepayment Premiums (or Kimball Lane Yield Maintenance Amounts, if applicable) collected duxxxx xxx xxxated Collection Period. Any portion of such Prepayment Premium collected in respect (or Kimball Lane Yield Maintenance Amounts, if applicable) that is not xx xxxxxxxxxed to the Holders of such Principal Prepayment during the related Collection Period.
(ii) Any portion of any such Prepayment Premium that is not so distributed to any of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes Class X Certificates. On any Distribution Date on or before the Distribution Date in October 2007, 70% of the Class X Prepayment Premium (or Kimball Lane Yield Maintenance Amounts, if applicable) that is not xx xxxxxxxxxed to the Holders of such Principal Balance Certificates as follows: first, will be distributed to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior X-1 Certificates and 30% of the Class A-S REMIC III Regular Interest Prepayment Premium (and correspondinglyor Kimball Lane Yield Maintenance Amounts, the Class A-S Certificates and the Class PST Component A-Sif applicable) on the applicable Distribution Date, and the denominator of which that is the total amount distributed as principal not xx xxxxxxxxxed to the Holders of all Classes of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.X-2
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Ii Inc)
Prepayment Premiums. Any Subject to Section 6.11(b) with respect to Prepayment Premiums collected on the Ritz-Xxxxxxx Xxxx Passu Loan, any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0A-1A, Class A-ABL, Class A-3M, Class A-4 N, Class O, Class P, Class Q and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyS Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all such Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base 141 Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the all such Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) Any portion . Following such deemed distributions, in respect of any such Prepayment Premium that is not so distributed to any Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the Class X-0related Collection Period, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, will be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (Aa) a fraction, the numerator of which is the total amount distributed as principal to the Holders of that Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes the Class A-1A Certificates on that Distribution Date, (b) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (c) the aggregate amount of Prepayment Premiums collected during the related Collection Period. Any portion of such Prepayment Premium that is not so distributed to the Holders of such Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, will be distributed to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Hq8)
Prepayment Premiums. On each Distribution Date, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interests, any Prepayment Premiums collected on or with respect to the Mortgage Loans. On each Distribution Date, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, to be deemed distributed to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of such REMIC II Regular Interests is entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed to be allocated among such Classes on a pro rata basis in accordance with the relative amounts of such deemed distributions of principal). Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be distributed by to the Certificate Administrator REMIC Regular Certificates on the following Distribution Date as follows:
(i) : The Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0G, Class A-ABH, Class A-3J, Class A-4 K, Class L, Class M, Class N and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyO Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular Interests, an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the amount distributed as principal excess, if any, of the Pass-Through Rate applicable to that the most senior of such Classes of Certificates then outstanding (or, if both Classes of Class or EC Trust REMIC III Regular Interest on that Distribution DateA Certificates are outstanding, the Class A-1 Certificates), over the relevant Discount Rate, and the denominator of which is the total amount distributed as principal equal to the Holders excess, if any, of all Classes the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate. If there is more than one such Class of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests entitled to distributions of principal on that such Distribution Date, multiplied by (B) the Base Interest Fraction for aggregate amount described in the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the amount relative amounts of the Prepayment Premium collected in respect entitlement to such distributions of such Principal Prepayment during the related Collection Period.
(ii) principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance . The Trustee shall not be responsible for the Paying Agent's failure to comply with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interestany withholding requirements.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the Holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will shall be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan; and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 1 during the related Collection Period, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0A-1A, Xxxxx X-0Class A-2FL, Class A-ABMFL, Class A-3A-JFL, Class A-4 J, Class K, Class L, Class M, Class N, Class O, Class P, Class Q and Class D Certificates S Certificates), the Class A-2FL Regular 156 Interest, the Class A-MFL Regular Interest and the EC Trust REMIC III Class A-JFL Regular Interests (and correspondinglyInterest, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date will Date, shall be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the Holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all such Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by of Certificates and (Cc) the aggregate amount of the all such Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
. Following such deemed distributions, in respect of any Prepayment Premiums collected in respect of each Mortgage Loan included in Loan Group 2 during the related Collection Period, the Holders of the Class A-1A Certificates, then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date, shall be entitled to, and the Paying Agent on behalf of the Trustee will pay to such Holder(s), an amount equal to the product of (iia) the Base Interest Fraction for the related Principal Prepayment and that Class of Certificates and (b) the aggregate amount of Prepayment Premiums collected during the related Collection Period. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of such Principal Balance Certificates or the Class X-0A-2FL Regular Interest, Xxxxx X-0, the Class A-AB, MFL Regular Interest or the Class A-3, Class A-4 or Class D Certificates or EC Trust REMIC III A-JFL Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will Interest shall be distributed to the Holders of the respective Classes of Class X Certificates. For so long as the Class X Certificates as follows: firstA-2FL Swap Contract, to the Holders of the Class XA-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates MFL Swap Contract and the Class A-S REMIC III JFL Swap Contract, or any replacement Swap Contract, are in effect, the Prepayment Premium allocated to the Class A-2FL Regular Interest (and correspondinglyInterest, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III MFL Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage InterestJFL Regular Interest shall be payable to the Swap Counterparty pursuant to the terms of the related Swap Contract. If the Class A-2FL Swap Contract, respectively, in the Class A-S REMIC III MFL Swap Contract, the Class A-JFL Swap Contract or any replacement Swap Contract is no longer in effect, any Prepayment Premium allocated to the Class A-2FL Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III A-MFL Regular Interest on such Distribution Date pursuant to this Section 6.10 or the Class A-JFL Regular Interest shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of Class A-2FL Certificates, the Class B A-MFL Certificates and or the Class PST A-JFL Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2007-Hq12)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Loan, which Prepayment Premium is payable to the holder of the related B Note or the related Serviced Companion Loan, as applicable) during any particular Collection Period will be deemed distributed by the Certificate Administrator Trustee on the following Distribution Date as follows:
: the Trustee shall be deemed to distribute to itself, as holder of the REMIC I Regular Interests any Prepayment Premiums to the REMIC I Regular Interest then entitled to distributions of principal from the Principal Distribution Amount (i) The or, if more than one Class of REMIC I Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates, other than the Class X-0, Xxxxx X-0F, Class A-ABG, Class A-3H, Class A-4 J, Class K, Class L and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyM Certificates, the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product lesser of (A) the amount of the Prepayment Premium, and (B) (i) the amount of the Prepayment Premium multiplied by (ii) a fraction, expressed as a percentage, the numerator of which is equal to the amount distributed as principal excess, if any, of the Pass-Through Rate applicable to that the most senior of such Classes of Certificates then outstanding (or, if all Classes of Class or EC Trust REMIC III Regular Interest on that Distribution DateA Certificates are outstanding, the Class A-1 Certificates), over the relevant Discount Rate, and the denominator of which is the total amount distributed as principal equal to the Holders excess, if any, of all Classes the Mortgage Rate of the Mortgage Loan that prepaid over the relevant Discount Rate. If there is more than one such Class of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests entitled to distributions of principal on that such Distribution Date, multiplied by (B) the Base Interest Fraction for aggregate amount described in the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by (C) preceding sentence will be allocated among such Classes on a pro rata basis in accordance with the amount relative amounts of the Prepayment Premium collected in respect entitlement to such distributions of such Principal Prepayment during the related Collection Period.
(ii) principal. Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital 1 Inc Series 2000-Prin)
Prepayment Premiums. Any Prepayment Premium collected with respect to a Mortgage Loan (but not a B Note or Serviced Companion Mortgage Loan, which Prepayment Premium is payable to the holder of the related B Note or the holder of the related Serviced Companion Mortgage Loan, as applicable) during any particular Collection Period will be deemed distributed to the Trustee by the Certificate Administrator Paying Agent on the following Distribution Date as follows:
: (i) The first, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC I Regular Interest to which such Mortgage Loan relates, any Prepayment Premiums collected on or with respect to such Mortgage Loan (provided that, with respect to the Monmouth Mall Mortgage Loan, any Prepayment Premiums shall be deemed distributed solely on the REMIC I Pooled Regular Interest); and (ii) second, the Paying Agent shall be deemed to distribute to the Trustee, as holder of the REMIC II Regular Interests, any Prepayment Premiums deemed distributed to the REMIC I Regular Interests, and shall be deemed to distribute such Prepayment Premiums to the REMIC II Regular Interest (other than the REMIC II Regular Interest MMA-NA and the REMIC II Regular Interest MMB-NA) then entitled to distributions of principal from the Principal Distribution Amount (or, if more than one Class of REMIC II Regular Interests is then entitled to distributions of principal from the Principal Distribution Amount, such Prepayment Premiums shall be deemed distributed among such Classes pro rata in accordance with the relevant amounts of entitlements to distributions of principal). Following such deemed distributions, the Holders of the respective Classes of Principal Balance Certificates (other than the Class X-0, Xxxxx X-0J, Class A-ABK, Class A-3L, Class A-4 M, Class N, Class O and Class D Certificates and the EC Trust REMIC III Regular Interests (and correspondinglyP Certificates), the applicable EC Trust Certificates) then entitled to distributions of principal from the Principal Distribution Amount for such Distribution Date Date, will be entitled to, and the Certificate Administrator Paying Agent on behalf of the Trustee will pay to such Classes or EC Trust REMIC III Regular InterestsHolder(s), an amount equal to, in the case of each such Class or EC Trust REMIC III Regular InterestClass, the product of (Aa) a fraction, the numerator of which is the amount distributed as principal to the holders of that Class or EC Trust REMIC III Regular Interest on that Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders holders of all Classes of Principal Balance Certificates (other than the EC Trust Class MM-NA Certificates) and all EC Trust REMIC III Regular Interests on that Distribution Date, multiplied by (Bb) the Base Interest Fraction for the related Principal Prepayment and that Class or EC Trust REMIC III Regular Interest, multiplied by and (Cc) the aggregate amount of the Prepayment Premium Premiums collected in respect of such Principal Prepayment during the related Collection Period.
(ii) . Any portion of any such Prepayment Premium that is not so distributed to any the Holders of the Class X-0, Xxxxx X-0, Class A-AB, Class A-3, Class A-4 or Class D such Principal Balance Certificates or EC Trust REMIC III Regular Interests (and correspondingly, the applicable EC Trust Certificates) in accordance with the immediately preceding clause (i) (the applicable “Class X YM Distribution Amount”) will be distributed to the Holders of the respective Classes of the Class X Certificates as follows: first, to the Holders of the Class X-A Certificates in an amount equal to the product of (A) a fraction, the numerator of which is the total amount distributed as principal to the Class A Senior Certificates and the Class A-S REMIC III Regular Interest (and correspondingly, the Class A-S Certificates and the Class PST Component A-S) on the applicable Distribution Date, and the denominator of which is the total amount distributed as principal to the Holders of all Classes of Principal Balance Certificates (other than the EC Trust Certificates) and all EC Trust REMIC III Regular Interests on the applicable Distribution Date, multiplied by (B) the applicable Class X YM Distribution Amount; and then, to the Holders of the Class X-B Certificates in an amount equal to any portion of the applicable Class X YM Distribution Amount remaining after the foregoing distribution to the Holders of the Class X-A Certificates. All distributions of Prepayment Premiums, if any, made with respect to a Class of Class X Certificates on any Distribution Date, pursuant to this Section 6.10, shall be made, and shall be deemed to have been made, in respect of the various Class X REMIC III Regular Interests that relate to the subject Class of Class X Certificates, pro rata in accordance with the respective amounts by which the Notional Amounts of such Class X REMIC III Regular Interests declined on such Distribution Date. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class A-S REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class A-S Certificates and the Class PST Certificates, pro rata, based on the Class A-S Percentage Interest and the Class A-S-PST Percentage Interest, respectively, in the Class A-S REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class B REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class B Certificates and the Class PST Certificates, pro rata, based on the Class B Percentage Interest and the Class B-PST Percentage Interest, respectively, in the Class B REMIC III Regular Interest. On each Distribution Date, all Prepayment Premiums, if any, distributed on the Class C REMIC III Regular Interest on such Distribution Date pursuant to this Section 6.10 shall be further distributed by the Certificate Administrator on behalf of the Trustee to the Holders of the Class C Certificates and the Class PST Certificates, pro rata, based on the Class C Percentage Interest and the Class C-PST Percentage Interest, respectively, in the Class C REMIC III Regular Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2006-Top21)
