REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows: (i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.606% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date; (ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and (iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Distribution Account. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c) shall be distributed to the holder of the Class 1-R1 Certificates.
Appears in 3 contracts
Samples: Trust Agreement (Structured Asset Securities Corp), Trust Agreement (GSR Mortgage Loan Trust 2005-9f), Trust Agreement (GSR Mortgage Loan Trust 2005-9f)
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6067.7762% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 2 contracts
Samples: Trust Agreement (GSR Mortgage Loan Trust 2006-2f), Trust Agreement (GSR Mortgage Loan Trust 2006-2f)
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6067.9676% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
Samples: Trust Agreement (GSR 2006-4f)
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.5932% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6067.7788% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6067.7308% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6066.0172% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.9054% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.4036% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
Samples: Trust Agreement (GSR 2006-5f)
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.606[ ]% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000[ ]%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
Samples: Master Servicing and Trust Agreement (Gs Mortgage Securities Corp)
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.606[ ]% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000[ ]%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6067.680% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.4296% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.8588% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6067.869% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00004.000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.0000% and subjecting the Class LT1-Sub-B Interest to a cap of 4.00002.0172%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
Appears in 1 contract
REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.8112% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c3.01(d) shall be distributed to the holder of the Class 1-R1 RC Certificates.
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REMIC LT1 Distributions. On each Distribution Date, the Securities Administrator shall apply amounts in the REMIC LT1 Distribution Account to the REMIC LT1 Regular Interests in the same manner that amounts are distributed on any Corresponding Classes of Certificates on such Distribution Date. On each Distribution Date, the Securities Administrator shall apply remaining amounts in the REMIC LT1 Distribution Account in respect of interest to the Class LT1 Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their interest rates set forth above. In addition, on each Distribution Date, the Trustee shall apply amounts in the REMIC LT1 Distribution Account in respect of principal to the Class LT1-Pool, Class LT1-Sub-A and Class LT1-Sub-B Interests as follows:
(i) first, to the Class LT1-Sub-A and Class LT1-Sub-B Interests, the minimum amounts to each such that following that allocation the weighted average rate of the Class LT1-Sub-A and Class LT1-Sub-B Interests, weighted on the principal balances thereof and determined by subjecting the Class LT1-Sub-A Interest to a floor of 7.6068.0186% and subjecting the Class LT1-Sub-B Interest to a cap of 4.0000%, equals the interest rate on the Class 1-B Certificates for the following Distribution Date;
(ii) second, to the Class LT1-Pool Interest until its principal balance is reduced to zero; and
(iii) third, pro rata to the Class LT1-Sub-A and Class LT1-Sub-B Interests in accordance with their principal balances following clause (i) above. Realized Losses and Shortfalls shall be allocated in the same manner. The Securities Administrator shall withdraw all amounts allocated to the various REMIC LT1 Regular Interests and deposit such amounts in the REMIC MT Certificate Account for distribution pursuant to Section 3.01(a) above on such Distribution AccountDate. Any amount remaining in the REMIC LT1 Distribution Account after making all other payments required under this Section 3.01(c) shall be distributed to the holder of the Class 1-R1 RC Certificates.
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