Common use of Principal if a Cross-Over Situation Exists Clause in Contracts

Principal if a Cross-Over Situation Exists. If a Cross-Over Situation exists with respect to the R-2-A and R-2-B Interests then: (a) if the Calculation Rate in respect of the outstanding R-2-A and R-2-B Interests is less than the Adjustable Rate Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2-A Interests prior to any other principal distributions from each such Variable Loan Group; and (b) if the Calculation Rate in respect of the outstanding R-2-A and R-2-B Interests is greater than the Adjustable Rate Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2-B Interests prior to any other principal distributions from each such Variable Loan Group. In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2-A and R-2-B Interests to equal the Adjustable Rate Subordinate Net Rate Cap. With respect to each Variable Loan Group, if (and to the extent that) the sum of (a) the principal payments comprising the Principal Distribution Amount payable for the related Distribution Date and (b) the Realized Losses, are insufficient to make the necessary reductions of principal on the R-2-A and R-2-B Interests, then interest will be added to the Variable Loan Group's R-2-E Interest. (c) The outstanding aggregate R-2-A and R-2-B Interests for both Variable Loan Groups will not be reduced below 1 percent of the excess of (i) the aggregate outstanding Stated Principal Balances of all Variable Loan Groups as of the end of any Due Period over (ii) the Senior Certificates related to the Variable Loan Groups as of the related Distribution Date (after taking into account distributions of principal on such Distribution Date). If (and to the extent that) the limitation in paragraph (c) prevents the distribution of principal to the R-2-A and R-2-B Interests of a Variable Loan Group, and if the Variable Loan Group's corresponding R-2-E Interest has already been reduced to zero, then the excess principal from that Variable Loan Group will be paid to the R-2-E Interest of the other Variable Loan Group, the aggregate R-2-A and R-2-B Interests of which are less than one percent of the Subordinate Component Balance. If the Variable Loan Group of the corresponding R-2-E Interest that receives such payment has a Group Net Rate Cap below the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2-E Interest that receives such payment has a Group Net Rate Cap above the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a reimbursement for prior Realized Losses. If a Cross-Over Situation exists with respect to the R-2-C and R-2-D Interests then: (d) if the Calculation Rate in respect of the outstanding R-2-C and R-2-D Interests is less than the Adjusted Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the R-2-C Interests prior to any other principal distributions from each such Variable Loan Group; and (e) if the Calculation Rate in respect of the outstanding R-2-C and R-2-D Interests is greater than the Adjusted Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2-D Interests prior to any other principal distributions from each such Variable Loan Group. In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2-C and R-2-D Interests to equal the Adjusted Subordinate Net Rate Cap. With respect to each Variable Loan Group, if (and to the extent that) the sum of (a) the principal payments comprising the Principal Distribution Amount payable for the related Distribution Date and (b) the Realized Losses, are insufficient to make the necessary reductions of principal on the R-2-C and R-2-D Interests, then interest will be added to the Variable Loan Group's R-2-E Interest. (f) The outstanding aggregate R-2-C and R-2-D Interests for all Variable Loan Groups will not be reduced below 1 percent of the excess of (i) the aggregate outstanding Stated Principal Balances of all Variable Loan Groups as of the end of any Due Period over (ii) the Senior Certificates related to the Variable Loan Groups as of the related Distribution Date (after taking into account distributions of principal on such Distribution Date). If (and to the extent that) the limitation in paragraph (f) prevents the distribution of principal to the R-2-C and R-2-D Interests of a Variable Loan Group, and if the Variable Loan Group's R-2-E Interest has already been reduced to zero, then the excess principal from that Variable Loan Group will be paid to the R-2-E Interests of the other Variable Loan Group, the aggregate R-2-C and R-2-D Interests of which are less than one percent of the Adjusted Subordinate Component Balance. If the Variable Loan Group of the R-2-E Interest that receives such payment has a Group Net Rate Cap below the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2- E Interest that receives such payment has a Group Net Rate Cap above the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a reimbursement for prior Realized Losses.

Principal if a Cross-Over Situation Exists. If a Cross-Over Situation exists with respect to the R-2R-1-A and R-2R-1-B Interests then: (a) if the Calculation Rate in respect of the outstanding R-2R-1-A and R-2R-1-B Interests is less than the Adjustable Rate Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2R-1-A Interests prior to any other principal distributions Principal Distributions from each such Variable Loan Group; and (b) if the Calculation Rate in respect of the outstanding R-2R-1-A and R-2R-1-B Interests is greater than the Adjustable Rate Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2R-1-B Interests prior to any other principal distributions Principal Distributions from each such Variable Loan Group. In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2R-1-A and R-2R-1-B Interests to equal the Adjustable Rate Subordinate Net Rate Cap. With respect to each Variable Loan Group, if (and to the extent that) the sum of (a) the principal payments comprising the Principal Distribution Remittance Amount payable for received during the related Distribution Date Due Period and (b) the Realized Losses, are insufficient to make the necessary reductions of principal on the R-2R-1-A and R-2R-1-B Interests, then interest will be added to the Variable Loan Group's R-2-E Interestother Interests that are not receiving Principal Relocation Payments, in proportion to their principal balances. (c) The outstanding aggregate R-2R-1-A and R-2R-1-B Interests for both Variable Loan Groups will not be reduced below 1 percent of the excess of (i) the aggregate outstanding Stated Principal Balances of all Variable Loan Groups as of the end of any Due Period over (ii) the Senior Certificates related to the Variable Loan Groups as of the related Distribution Date (after taking into account distributions of principal on such Distribution Date). If (and to the extent that) the limitation in paragraph (c) prevents the distribution of principal to the R-2R-1-A and R-2R-1-B Interests of a Variable Loan Group, and if the Variable Loan Group's corresponding R-2R-1-E Interest has already been reduced to zero, then the excess principal from that Variable Loan Group will be paid to the R-2R-1-E Interest of the other Variable Loan Group, the aggregate R-2R-1-A and R-2R-1-B Interests of which are less than one percent of the Subordinate Component Balance. If the Variable Loan Group of the corresponding R-2R-1-E Interest that receives such payment has a Group weighted average Adjusted Net Mortgage Rate Cap below the Group weighted average Adjusted Net Mortgage Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 1 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2R-1-E Interest that receives such payment has a Group weighted average Adjusted Net Mortgage Rate Cap above the Group weighted average Adjusted Net Mortgage Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 1 as a reimbursement for prior Realized Losses. If a Cross-Over Situation exists with respect to the R-2R-1-C and R-2R-1-D Interests then: (d) if the Calculation Rate in respect of the outstanding R-2R-1-C and R-2R-1-D Interests is less than the Adjusted Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the R-2outstanding R-1-C Interests prior to any other principal distributions Principal Distributions from each such Variable Loan Group; and (e) if the Calculation Rate in respect of the outstanding R-2R-1-C and R-2R-1-D Interests is greater than the Adjusted Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2R-1-D Interests prior to any other principal distributions Principal Distributions from each such Variable Loan Group. In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2R-1-C and R-2R-1-D Interests to equal the Adjusted Subordinate Net Rate Cap. With respect to each Variable Loan Group, if (and to the extent that) the sum of (a) the principal payments comprising the Principal Distribution Remittance Amount payable for received during the related Distribution Date Due Period and (b) the Realized Losses, are insufficient to make the necessary reductions of principal on the R-2R-1-C and R-2R-1-D Interests, then interest will be added to the Variable Loan Group's R-2-E Interestother Interests that are not receiving Principal Relocation Payments, in proportion to their principal balances. (f) The outstanding aggregate R-2R-1-C and R-2R-1-D Interests for all Variable Loan Groups will not be reduced below 1 percent of the excess of (i) the aggregate outstanding Stated Principal Balances of all Variable Loan Groups as of the end of any Due Period over (ii) the Senior Certificates related to the Variable Loan Groups as of the related Distribution Date (after taking into account distributions of principal on such Distribution Date). If (and to the extent that) the limitation in paragraph (f) prevents the distribution of principal to the R-2R-1-C and R-2R-1-D Interests of a Variable Loan Group, and if the Variable Loan Group's R-2R-1-E Interest has already been reduced to zero, then the excess principal from that Variable Loan Group will be paid to the R-2-Class E Variable Interests of the other Variable Loan GroupGroups, the aggregate R-2R-1-C and R-2R-1-D Interests of which are less than one percent of the Adjusted Subordinate Component Balance. If the Variable Loan Group of the R-2-Class E Variable Interest that receives such payment has a Group weighted average Adjusted Net Mortgage Rate Cap below the Group weighted average Adjusted Net Mortgage Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 1 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2- E Class C Variable Interest that receives such payment has a Group weighted average Adjusted Net Mortgage Rate Cap above the Group weighted average Adjusted Net Mortgage Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 1 as a reimbursement for prior Realized Losses.. REMIC 2: The REMIC 2 Regular Interests will have the principal balances, pass-through rates and Corresponding Classes of Certificates as set forth in the following table: (1) (2) AF-1 ------------------------------------------------------------------------ R-2-AF-2..... (1) (2) AF-2 ------------------------------------------------------------------------ R-2-AF-3.....

Principal if a Cross-Over Situation Exists. If a Cross-Over Situation exists with respect to the R-2-A and R-2-B Interests then: (a) if the Calculation Rate in respect of the outstanding R-2-A and R-2-B Interests is less than the Adjustable Rate Subordinate Tax Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2-A Interests prior to any other principal distributions from each such Variable Loan Group; and (b) if the Calculation Rate in respect of the outstanding R-2-A and R-2-B Interests is greater than the Adjustable Rate Subordinate Tax Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2-B Interests prior to any other principal distributions from each such Variable Loan Group. In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2-A and R-2-B Interests to equal the Adjustable Rate Subordinate Tax Net Rate Cap. With respect to each Variable Loan Group, if (and to the extent that) the sum of (a) the principal payments comprising the Principal Distribution Amount payable for the related Distribution Date and (b) the Realized Losses, are insufficient to make the necessary reductions of principal on the R-2-A and R-2-B Interests, then interest will be added to the Variable Loan Group's R-2’s R- 2-E C Interest. (c) The Unless required to achieve the Calculation Rate, the outstanding aggregate R-2-A and R-2-B Interests for both Variable all three Loan Groups will not be reduced below 1 percent of the excess of (i) the aggregate outstanding Stated Principal Balances principal balances of all Variable three Loan Groups as of the end of any Due Period (reduced by Principal Prepayments received after the Due Period that are to be distributed on the Distribution Date related to the Due Period) over (ii) the Senior Certificates related to the Variable all three Loan Groups as of the related Distribution Date (after taking into account distributions of principal on such Distribution Date). If (and to the extent that) the limitation in paragraph (c) prevents the distribution of principal to the R-2-A and R-2-B Interests of a Variable Loan Group, and if the Variable Loan Group's ’s corresponding R-2-E C Interest has already been reduced to zero, then the excess principal from that Variable Loan Group will be paid to the R-2-E C Interest of the other Variable Loan GroupGroup(s), the aggregate R-2R- 2-A and R-2-B Interests of which are less than one percent of the Subordinate Component Balance. If the Variable Loan Group of the corresponding R-2-E C Interest that receives such payment has a Group Tax Net Rate Cap below the Group Tax Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2-E C Interest that receives such payment has a Group Tax Net Rate Cap above the Group Tax Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a reimbursement for prior Realized Losses. If The REMIC 3 Regular Interests will have the principal balances, pass-through rates and Corresponding Classes of Certificates as set forth in the following table: REMIC 3 Interests Initial Principal Balance Pass-Through Rate Corresponding Class of Certificates R-3-1-A ........................ (1) (2) 1-A R-3-2-A-1..................... (1) (2) 2-A-1 R-3-2-A-2..................... (1) (2) 2-A-2 R-3-2-A-3..................... (1) (2) 2-A-3 R-3-3-A-1..................... (1) (2) 3-A-1 R-3-3-A-2..................... (1) (2) 3-A-2 R-3-M-1 ....................... (1) (2) M-1 R-3-M-2 ....................... (1) (2) M-2 R-3-M-3 ....................... (1) (2) M-3 R-3-M-4 ....................... (1) (2) M-4 R-3-M-5 ....................... (1) (2) M-5 R-3-M-6 ....................... (1) (2) M-6 R-3-M-7 ....................... (1) (2) M-7 R-3-M-8 ....................... (1) (2) M-8 R-3-B............................ (1) (2) B R-3-$100 ...................... $100 (3) A-R R-3-C............................ (4) (2) N/A R-3-P ............................ $100 (5) P R-3-R............................ (6) (6) N/A REMIC 3 Interests Initial Principal Balance Pass-Through Rate Corresponding Class of Certificates (1) This REMIC 3 Interest has a Crossprincipal balance that is initially equal to 100% of its Corresponding Certificate Class issued by the Master REMIC. Principal payments, both scheduled and prepaid, Realized Losses and Subsequent Recoveries attributable to the REMIC 2 Interests held by REMIC 3 will be allocated to this class to maintain its size relative to its Corresponding Certificate Class. (2) The pass-Over Situation exists through rate with respect to any Distribution Date (and the related Accrual Period) for this REMIC 3 Interest is the weighted average of the Loan Group 1 Tax Net Rate Cap, the Loan Group 2 Tax Net Rate Cap and the Loan Group 3 Tax Net Rate Cap (the “Pool Tax Net Rate Cap”). (3) This REMIC 3 Interest pays no interest. (4) This REMIC 3 Interest has a principal balance that is initially equal to 100% of the Overcollateralization Amount. Principal payments, both scheduled and prepaid, Realized Losses and Subsequent Recoveries attributable to the REMIC 2 Interests held by REMIC 3 will be allocated to this class to maintain its size relative to the Overcollateralization Amount. (5) The R-3-P Interest is entitled to all amounts payable with respect to the R-2-C and R-2-D Interests then:P Interest. It pays no interest. (d6) if The R-3-R Interest is the Calculation Rate sole class of residual interest in REMIC 3. It has no principal balance and pays no principal or interest. (7) This REMIC 3 Interest pays no principal. (8) This REMIC 3 Interest is entitled to all amounts payable with respect of the outstanding R-2-C and R-2-D Interests is less than the Adjusted Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the R-2-C Interests prior to any other principal distributions from X Interest. On each such Variable Loan Group; and (e) if Distribution Date, the Calculation Rate in respect of the outstanding R-2-C Interest Funds and R-2-D Interests is greater than the Adjusted Subordinate Net Rate Cap, Principal Relocation Payments will be made proportionately to the outstanding R-2-D Interests prior to any other principal distributions from each such Variable Loan Group. In each case, Principal Relocation Payments will be made so as to cause the Calculation Rate in respect of the outstanding R-2-C and R-2-D Interests to equal the Adjusted Subordinate Net Rate Cap. With respect to each Variable Loan Group, if (and to the extent that) the sum of (a) the principal payments comprising the Principal Distribution Amount payable for the related Distribution Date and (b) the Realized Losses, are insufficient to make the necessary reductions of principal on the R-2-C and R-2-D Interests, then interest will be added with respect to the Variable Loan Group's R-2-E Interest. (f) The outstanding aggregate R-2-C and R-2-D REMIC 2 Interests for all Variable Loan Groups will not shall be reduced below 1 percent of the excess of (i) the aggregate outstanding Stated Principal Balances of all Variable Loan Groups as of the end of any Due Period over (ii) the Senior Certificates related payable with respect to the Variable Loan Groups as of REMIC 3 Interests in the related Distribution Date (after taking into account distributions of principal on such Distribution Date). If (and to the extent that) the limitation in paragraph (f) prevents the distribution of principal to the R-2-C and R-2-D Interests of a Variable Loan Group, and if the Variable Loan Group's R-2-E Interest has already been reduced to zero, then the excess principal from that Variable Loan Group will be paid to the R-2-E Interests of the other Variable Loan Group, the aggregate R-2-C and R-2-D Interests of which are less than one percent of the Adjusted Subordinate Component Balance. If the Variable Loan Group of the R-2-E Interest that receives such payment has a Group Net Rate Cap below the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a Realized Loss. Conversely, if the Variable Loan Group of the R-2- E Interest that receives such payment has a Group Net Rate Cap above the Group Net Rate Cap of the Variable Loan Group making the payment, then the payment will be treated by REMIC 2 as a reimbursement for prior Realized Losses.following manner: