REMIC UT Distributions. In accordance with Section 3.01(d) of the Standard Terms and subject to the exceptions set forth below and to Section 3.02, on each Distribution Date, the Securities Administrator shall withdraw the aggregate Available Distribution Amount for each Collateral Group from the Certificate Account, and shall distribute it in the following manner and order of priority: (i) to each Class of REMIC Certificates that are Senior Certificates (other than the Principal Only Certificates) related to such Collateral Group, Accrued Certificate Interest thereon, pro rata in proportion to the amount of Accrued Certificate Interest owing to each such Class; (ii) to the REMIC Certificates that are Senior Certificates (other than the Interest Only Certificates) related to such Collateral Group, to the extent of the remaining Available Distribution Amount for such Collateral Group, as follows: (A) to the Class 1A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 1 in an amount up to the Senior Principal Distribution Amount for Collateral Group 1 for such Distribution Date, until the Class Principal Balance thereof is reduced to zero; (B) to the Class 2A-2, Class 2A-4, Class 2A-6, Class 2A-7 and Class 2A-8 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 2 in an amount up to the Senior Principal Distribution Amount for Collateral Group 2 for such Distribution Date, in the following order of priority: (i) to the Class 2A-7 and Class 2A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, the Group 2 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class is reduced to zero; (ii) to the Class 2A-2 Certificates, until the Class Principal Balance thereof is reduced to zero; (iii) to the Class 2A-4 Certificates until the Class Principal Balance thereof is reduced to zero; (iv) to the Class 2A-6 Certificates until the Class Principal Balance thereof is reduced to zero; and (v) to the Class 2A-7 and Class 2A-8 Certificates, pro rata, until the Class Principal Balance of each such class is reduced to zero; (C) to the Class 3A-1, Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8, Class 3A-9 and Class 3A-10 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 3 in an amount up to the Senior Principal Distribution Amount for Collateral Group 3 for such Distribution Date, concurrently as follows: (i) approximately 75.4189837965% of the amount distributable pursuant to clause (ii)(C) above, to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8 and Class 3A-9 Certificates in the following order of priority: (a) to the Class 3A-6 and Class 3A-7 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, the Group 3 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class is reduced to zero; (b) to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-8 and Class 3A-9 Certificates, concurrently as follows: (1) approximately 21.0680903672% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-8 and Class 3A-9 Certificates, sequentially, in that order, until the Class Principal Balance of each such class is reduced to zero; (2) approximately 78.9319096328% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-3, Class 3A-4 and Class 3A-5 Certificates in the following order of priority: (I) to the Class 3A-3 Certificates, an amount up to $1,000 until the Class Principal Balance thereof is reduced to zero; (II) to the Class 3A-4 Certificates, an amount up to $1,135,000 until the Class Principal Balance thereof is reduced to zero; (III) to the Class 3A-3 Certificates until the Class Principal Balance thereof is reduced to zero; (IV) to the Class 3A-4 Certificates until the Class Principal Balance thereof is reduced to zero; (V) to the Class 3A-5 Certificates until the Class Principal Balance thereof is reduced to zero; (c) to the Class 3A-6 and Class 3A-7 Certificates, pro rata, until the Class Principal Balance of each such class is reduced to zero; and (ii) approximately 24.5810162035% of the amount distributable pursuant to clause (ii)(C) above to the Class 3A-1 and Class 3A-10 Certificates, pro rata, until the Class Principal Balance of each such class is reduced to zero; (D) to the Class 4A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 4 in an amount up to the Senior Principal Distribution Amount for Collateral Group 4 for such Distribution Date, until the Class Principal Balance thereof is reduced to zero; (E) to the Class 5A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 5 in an amount up to the Senior Principal Distribution Amount for Collateral Group 5 for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
Appears in 2 contracts
Samples: Trust Agreement (GSR Mortgage Loan Trust 2007-4f), Trust Agreement (GSR Mortgage Loan Trust 2007-4f)
REMIC UT Distributions. In accordance with Section 3.01(d) of the Standard Terms and subject to the exceptions set forth below and to Section 3.02, on each Distribution Date, the Securities Administrator shall withdraw the aggregate Available Distribution Amount for each Collateral Group from the Certificate Account, and shall distribute it in the following manner and order of priority:
(i) to each Class of REMIC Certificates that are Senior Certificates (other than the Principal Only Certificates) related to such Collateral Group, Accrued Certificate Interest thereon, pro rata in proportion to the amount of Accrued Certificate Interest owing to each such Class; provided that, Accrued Certificate Interest on the Class 2A-11 Certificates will be distributed in the following order of priority and will be added to the Class Principal Balance of the Class 2A-11 Certificates:
(A) to the Class 2A-10 Certificates, until the Class Principal Balance thereof is reduced to zero; and
(B) to the Class 2A-11 Certificates, until the Class Principal Balance thereof is reduced to zero;
(ii) to the REMIC Certificates that are Senior Certificates (other than the Interest Only Certificates) related to such Collateral Group, to the extent of the remaining Available Distribution Amount for such the related Collateral Group, as follows:
(A) to the Class 1A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 1 in an amount up to the Senior Principal Distribution Amount for Collateral Group 1 for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
(B) to the Class 2A-22A-3, Class 2A-42A-5, Class 2A-62A-7, Class 2A-7 2A-10, Class 2A-11, Class 2A-12 and Class 2A-8 2A-13 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 2 in an amount up to the Senior Principal Distribution Amount for Collateral Group 2 for such Distribution Date, in the following order of priority:
(i1) to the Class 2A-7 2A-12 and Class 2A-8 2A-13 Certificates, pro rata, in proportion to the Class Principal Balance of each such classClass, the Group 2 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class Class is reduced to zero;
(ii2) to the Class 2A-2 2A-3, Class 2A-5, Class 2A-7, Class 2A-10 and Class 2A-11 Certificates, in the following order of priority:
(a) to the Class 2A-3 Certificates, until the Class Principal Balance thereof is reduced to zerothe PAC(A) Scheduled Amount for such Distribution Date;
(iiib) to the Class 2A-4 Certificates 2A-5 and Class 2A-7 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, until the Class Principal Balance thereof of each such Class is reduced to zero;
(ivc) to the Class 2A-6 Certificates 2A-3 Certificates, without regard to the PAC(A) Scheduled Amount for such Distribution Date, until the Class Principal Balance thereof is reduced to zero; and
(vd) sequentially, to the Class 2A-7 2A-10 and Class 2A-8 2A-11 Certificates, pro ratain that order, until the Class Principal Balance of each such class Class is reduced to zero; and
(3) to the Class 2A-12 and Class 2A-13 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, until the Class Principal Balance of each such Class is reduced to zero;
(C) to the Class 3A-1, Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8, Class 3A-9 3A-7 and Class 3A-10 3A-8 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 3 in an amount up to the Senior Principal Distribution Amount for Collateral Group 3 for such Distribution Date, concurrently as follows:
(i) approximately 75.4189837965% of the amount distributable pursuant to clause (ii)(C) above, to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8 and Class 3A-9 Certificates in the following order of priority:
(a1) to the Class 3A-6 3A-6, Class 3A-7 and Class 3A-7 3A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such classClass, the Group 3 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class Class is reduced to zero;
(b2) to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-8 and Class 3A-9 3A-5 Certificates, concurrently as follows:until the Class Principal Balance thereof is reduced to the PAC(B) Scheduled Amount for such Distribution Date;
(13) approximately 21.0680903672% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-8 3A-1 and Class 3A-9 3A-3 Certificates, sequentiallypro rata, in that orderproportion to the Class Principal Balance of each such Class, until the Class Principal Balance of each such class Class is reduced to zero;
(2) approximately 78.9319096328% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-3, Class 3A-4 and Class 3A-5 Certificates in the following order of priority:
(I4) to the Class 3A-3 3A-5 Certificates, an amount up without regard to $1,000 the PAC(B) Scheduled Amount for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
(II5) to the Class 3A-4 Certificates, an amount up to $1,135,000 until the Class Principal Balance thereof is reduced reduce to zero;; and
(III6) to the Class 3A-3 Certificates until 3A-6, Class 3A-7 and Class 3A-8 Certificates, pro rata, in proportion to the Class Principal Balance thereof is reduced to zero;
(IV) to the Class 3A-4 Certificates until the Class Principal Balance thereof is reduced to zero;
(V) to the Class 3A-5 Certificates until the Class Principal Balance thereof is reduced to zero;
(c) to the Class 3A-6 and Class 3A-7 Certificates, pro rataof each such Class, until the Class Principal Balance of each such class is reduced to zero; and
(ii) approximately 24.5810162035% of the amount distributable pursuant to clause (ii)(C) above to the Class 3A-1 and Class 3A-10 Certificates, pro rata, until the Class Principal Balance of each such class is reduced to zero;
(D) to the Class 4A-1 4A-1, Class 4A-3, Class 4A-4, Class 4A-6, Class 4A-7, Class 4A-9, Class 4A-10 and Class 4A-11 Certificates, in reduction of their respective Class Principal BalanceBalances, from the Available Distribution Amount for Collateral Group 4 in an amount up to the Senior Principal Distribution Amount for Collateral Group 4 for such Distribution Date, in the following order of priority:
(1) to the Class 4A-1, Class 4A-3, Class 4A-4, and Class 4A-6 Certificates, an amount up to 62.5396125102898% of the Senior Principal Distribution Amount for Collateral Group 4 for such Distribution Date, in the following order of priority:
(a) to the Class 4A-3, Class 4A-4, and Class 4A-6 Certificates, until the aggregate Class Principal Balance of such Classes is reduced to the PAC(C) Scheduled Amount for such Distribution Date, in the following order of priority:
i. to the Class 4A-3 Certificates, until the Class Principal Balance thereof is reduced to zero;
ii. to the Class 4A-4 Certificates, the Group 4(A) NAS Priority Amount for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
iii. to the Class 4A-6 Certificates, until the Class Principal Balance thereof is reduced to zero; and
iv. to the Class 4A-4 Certificates, until the Class Principal Balance thereof is reduced to zero;
(b) to the Class 4A-1 Certificates, until the Class Principal Balance thereof is reduced to zero; and
(c) to the Class 4A-3, Class 4A-4 and Class 4A-6 Certificates, without regard to the PAC(C) Scheduled Amount for such Distribution Date, in the following order of priority:
i. to the Class 4A-3 Certificates, until the Class Principal Balance thereof is reduced to zero;
ii. to the Class 4A-4 Certificates, the Group 4(A) NAS Priority Amount for such Distribution Date not distributed pursuant to Section 3.01(a)(ii)(D)(1)(a)ii., until the Class Principal Balance thereof is reduced to zero;
iii. to the Class 4A-6 Certificates, until the Class Principal Balance thereof is reduced to zero; and
iv. to the Class 4A-4 Certificates, until the Class Principal Balance thereof is reduced to zero;
(2) to the Class 4A-7, Class 4A-9, Class 4A-10 and Class 4A-11 Certificates, an amount up to 37.4603874897102% of the Senior Principal Distribution Amount for Collateral Group 4 for such Distribution Date, in the following order of priority:
(a) to the Class 4A-7 and Class 4A-9 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, the Group 4(B) NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such Class is reduced to zero;
(b) sequentially, to the Class 4A-10 and 4A-11 Certificates, in that order, until the Class Principal Balance of each such Class is reduced to zero; and
(c) to the Class 4A-7 and Class 4A-9 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, until the Class Principal Balance of each such Class is reduced to zero;
(E) to the Class 5A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 5 in an amount up to the Senior Principal Distribution Amount for Collateral Group 5 for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
Appears in 1 contract
REMIC UT Distributions. In accordance with Section 3.01(d) of the Standard Terms and subject to the exceptions set forth below and to Section 3.02, on each Distribution Date, the Securities Administrator shall withdraw the aggregate Available Distribution Amount for each Collateral Group from the Certificate Account, and shall distribute it in the following manner and order of priority:
(i) to each Class of REMIC Certificates that are Senior Certificates (other than the Principal Only Certificates) related to such Collateral Group, Accrued Certificate Interest thereon, pro rata in proportion to the amount of Accrued Certificate Interest owing to each such Class;
(ii) to the REMIC Certificates that are Senior Certificates (other than the Interest Only Certificates) related to such Collateral Group, to the extent of the remaining Available Distribution Amount for such Collateral Group, as follows:
(A) to the Class 1A-1 1A-2, Class 1A-3, Class 1A-4 and Class 1A-5 Certificates, in reduction of their respective Class Principal BalanceBalances, from the Available Distribution Amount for Collateral Group 1 in an amount up to the Senior Principal Distribution Amount for Collateral Group 1 for such Distribution Date, in the following order of priority:
(1) to the Class 1A-4 and Class 1A-5 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, the Group 1 NAS Priority Amount for such Distribution Date, until the Class Principal Balance thereof of each such Class is reduced to zero;
(2) to the Class 1A-2 and Class 1A-3 Certificates, sequentially, in that order, until the Class Principal Balance of each such Class is reduced to zero; and
(3) to the Class 1A-4 and Class 1A-5 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, until the Class Principal Balance of each such Class is reduced to zero;
(B) to the Class 2A-2, Class 2A-4, Class 2A-6, Class 2A-7 2A-7, Class 2A-8, Class 2A-9 and Class 2A-8 2A-10 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 2 in an amount up to the Senior Principal Distribution Amount for Collateral Group 2 for such Distribution Date, in the following order of priority:
(i1) to the Class 2A-7 and Class 2A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, the Group 2 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class is reduced to zero;
(ii2) to the Class 2A-2 2A-9 Certificates, until the Class Principal Balance thereof is reduced to the PAC(A) Scheduled Amount for such Distribution Date;
(3) to the Class 2A-10 Certificates, until the Class Principal Balance thereof is reduced to zero;
(iii4) to the Class 2A-4 Certificates 2A-9 Certificates, without regard to the PAC(A) Scheduled Amount for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
(iv5) to the Class 2A-4 Certificates, until the Class Principal Balance thereof is reduced to zero;
(6) to the Class 2A-6 Certificates Certificates, until the Class Principal Balance thereof is reduced to zero; and
(v7) to the Class 2A-7 and Class 2A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, until the Class Principal Balance of each such class is reduced to zero;
(C) to the Class 3A-1, Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8, Class 3A-9 and Class 3A-10 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 3 in an amount up to the Senior Principal Distribution Amount for Collateral Group 3 for such Distribution Date, concurrently as follows:
(i) approximately 75.4189837965% of the amount distributable pursuant to clause (ii)(C) above, to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8 and Class 3A-9 Certificates in the following order of priority:
(a1) to the Class 3A-6 3A-7 and Class 3A-7 3A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, the Group 3 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class is reduced to zero;
(b2) to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-8 and Class 3A-9 Certificates, concurrently as follows:
(1) approximately 21.0680903672% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-8 and Class 3A-9 Certificates, sequentially, in that order, until the Class Principal Balance of each such class thereof is reduced to zerothe PAC(B) Scheduled Amount for such Distribution Date;
(2) approximately 78.9319096328% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-3, Class 3A-4 and Class 3A-5 Certificates in the following order of priority:
(I3) to the Class 3A-3 3A-10 Certificates, an amount up to $1,000 until the Class Principal Balance thereof is reduced to zero;
(II4) to the Class 3A-4 3A-9 Certificates, an amount up without regard to $1,135,000 the PAC(B) Scheduled Amount for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
(III5) to the Class 3A-3 Certificates 3A-4 Certificates, until the Class Principal Balance thereof is reduced to zero;
(IV6) to the Class 3A-4 Certificates 3A-6 Certificates, until the Class Principal Balance thereof is reduced to zero;; and
(V7) to the Class 3A-5 Certificates until the Class Principal Balance thereof is reduced to zero;
(c) to the Class 3A-6 3A-7 and Class 3A-7 3A-8 Certificates, pro rata, until in proportion to the Class Principal Balance of each such class is reduced to zero; and
(ii) approximately 24.5810162035% of the amount distributable pursuant to clause (ii)(C) above to the Class 3A-1 and Class 3A-10 Certificates, pro rataclass, until the Class Principal Balance of each such class is reduced to zero;
(D) to the Class 4A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 4 in an amount up to the Senior Principal Distribution Amount for Collateral Group 4 for such Distribution Date, until the Class Principal Balance thereof of such class is reduced to zero;; and
(E) to the Class 5A-1 A-P Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 5 P in an amount up to the Senior A-P Principal Distribution Amount for Collateral Group 5 P for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
(iii) from amounts otherwise payable to the Subordinate Certificates, to the Class A-P Certificates, the principal portion of Current Realized Losses and the Deferred Principal Amount for such Class A-P Certificates and such Distribution Date, provided, however, that, if necessary, the aggregate of all such amounts distributed on such Distribution Date shall not exceed the aggregate Subordinate Principal distribution Amount (without regard to the proviso of such definition) for the Subordinate Certificates and, provided further, that such amounts shall not reduce the Class Principal Balance of such Class A-P Certificates;
(iv) to the extent of the remaining Available Distribution Amount for Collateral Group 1, Collateral Group 2, Collateral Group 3 and Collateral Group 4, but subject to the prior distribution of amounts described under Section 3.01(e) below, to the related classes of Subordinate Certificates, in their order of seniority the sum of (i) Accrued Certificate Interest pro rata on the basis of the amount owing to each such Class, and (ii) their pro rata shares, based on their outstanding Certificate Balances, of the Subordinate Principal Distribution Amount for each such Collateral Group, as applicable; provided, however, that on any Distribution Date on which the Subordination Level for any Class of Subordinate Certificates is less than its Subordination Level as of the Closing Date, the portion of the related Subordinate Principal Prepayment Amount otherwise allocable to the Class or Classes of the Subordinate Certificates junior to such class will be allocated pro rata to the most senior Class of Subordinate Certificates for which the Subordination Level on such Distribution Date is less than the Subordination Level as of the Closing Date and all Classes of Subordinate Certificates senior thereto; and
(v) to each related Class of Certificates, in the order of their seniority, the amount of any unreimbursed Realized Losses previously allocated to such Certificates; and
(vi) after all of the other Classes of Certificates (other than the Residual Certificates) have been paid in full, the remainder, if any, which is expected to be zero, of the Available Distribution Amount for all Collateral Groups (other than any Fair Market Value Excess remaining after an optional termination of the Trust Estate) to the Class RC Certificates to the extent such remainder is applicable to REMIC LT1 and otherwise to the Class R Certificates.
Appears in 1 contract
REMIC UT Distributions. In accordance with Section 3.01(d) of the Standard Terms and subject to the exceptions set forth below and to Section 3.02, on each Distribution Date, the Securities Administrator shall withdraw the aggregate Available Distribution Amount for each Collateral Group from the Certificate Account, and shall distribute it in the following manner and order of priority:
(i) to each Class of REMIC Certificates that are Senior Certificates (other than the Principal Only Certificates) related to such Collateral Group, Accrued Certificate Interest thereon, pro rata in proportion to the amount of Accrued Certificate Interest owing to each such Class;
(ii) to the REMIC Certificates that are Senior Certificates (other than the Interest Only Certificates) related to such Collateral Group, to the extent of the remaining Available Distribution Amount for such Collateral Group, as follows:
(A) to the Class 1A-1 1A-2, Class 1A-3, Class 1A-4 and Class 1A-5 Certificates, in reduction of their respective Class Principal BalanceBalances, from the Available Distribution Amount for Collateral Group 1 in an amount up to the Senior Principal Distribution Amount for Collateral Group 1 for such Distribution Date, in the following order of priority:
(1) to the Class 1A-4 and Class 1A-5 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, the Group 1 NAS Priority Amount for such Distribution Date, until the Class Principal Balance thereof of each such Class is reduced to zero;
(2) to the Class 1A-2 and Class 1A-3 Certificates, sequentially, in that order, until the Class Principal Balance of each such Class is reduced to zero; and
(3) to the Class 1A-4 and Class 1A-5 Certificates, pro rata, in proportion to the Class Principal Balance of each such Class, until the Class Principal Balance of each such Class is reduced to zero;
(B) to the Class 2A-2, Class 2A-4, Class 2A-6, Class 2A-7 2A-7, Class 2A-8, Class 2A-9 and Class 2A-8 2A-10 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 2 in an amount up to the Senior Principal Distribution Amount for Collateral Group 2 for such Distribution Date, in the following order of priority:
(i1) to the Class 2A-7 and Class 2A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, the Group 2 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class is reduced to zero;
(ii2) to the Class 2A-2 2A-9 Certificates, until the Class Principal Balance thereof is reduced to the PAC Scheduled Amount for such Distribution Date;
(3) to the Class 2A-10 Certificates, until the Class Principal Balance thereof is reduced to zero;
(iii4) to the Class 2A-4 Certificates 2A-9 Certificates, without regard to the PAC(A) Scheduled Amount for such Distribution Date, until the Class Principal Balance thereof is reduced to zero;
(iv5) to the Class 2A-4 Certificates, until the Class Principal Balance thereof is reduced to zero;
(6) to the Class 2A-6 Certificates Certificates, until the Class Principal Balance thereof is reduced to zero; and
(v7) to the Class 2A-7 and Class 2A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, until the Class Principal Balance of each such class is reduced to zero;
(C) to the Class 3A-1, Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8, Class 3A-9 3A-7 and Class 3A-10 3A-8 Certificates, in reduction of their respective Class Principal Balances, from the Available Distribution Amount for Collateral Group 3 in an amount up to the Senior Principal Distribution Amount for Collateral Group 3 for such Distribution Date, concurrently as follows:
(i) approximately 75.4189837965% of the amount distributable pursuant to clause (ii)(C) above, to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-6, Class 3A-7, Class 3A-8 and Class 3A-9 Certificates in the following order of priority:
(a1) to the Class 3A-6 3A-7 and Class 3A-7 3A-8 Certificates, pro rata, in proportion to the Class Principal Balance of each such class, the Group 3 NAS Priority Amount for such Distribution Date, until the Class Principal Balance of each such class is reduced to zero;
(b) to the Class 3A-3, Class 3A-4, Class 3A-5, Class 3A-8 and Class 3A-9 Certificates, concurrently as follows:
(1) approximately 21.0680903672% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-8 and Class 3A-9 Certificates, sequentially, in that order, until the Class Principal Balance of each such class is reduced to zero;
(2) approximately 78.9319096328% of the amount remaining after the distribution pursuant to clause (2)(c)(i)(A) above, to the Class 3A-3, Class 3A-4 and Class 3A-5 Certificates in the following order of priority:
(I) to the Class 3A-3 Certificates, an amount up to $1,000 until the Class Principal Balance thereof is reduced to zero;
(II3) to the Class 3A-4 Certificates, an amount up to $1,135,000 until the Class Principal Balance thereof is reduced to zero;
(III4) to the Class 3A-3 Certificates 3A-6 Certificates, until the Class Principal Balance thereof is reduced to zero;; and
(IV5) to the Class 3A-4 Certificates until the Class Principal Balance thereof is reduced to zero;
(V) to the Class 3A-5 Certificates until the Class Principal Balance thereof is reduced to zero;
(c) to the Class 3A-6 3A-7 and Class 3A-7 3A-8 Certificates, pro rata, until in proportion to the Class Principal Balance of each such class is reduced to zero; and
(ii) approximately 24.5810162035% of the amount distributable pursuant to clause (ii)(C) above to the Class 3A-1 and Class 3A-10 Certificates, pro rataclass, until the Class Principal Balance of each such class is reduced to zero;
(D) to the Class 4A-1 Certificates, in reduction of their Class Principal Balance, from the Available Distribution Amount for Collateral Group 4 in an amount up to the Senior Principal Distribution Amount for Collateral Group 4 for such Distribution Date, until the Class Principal Balance thereof of such class is reduced to zero;
(Eiii) to the Class 5A-1 Certificates, in reduction extent of their Class Principal Balance, from the remaining Available Distribution Amount for Collateral Group 5 in an amount up 1, Collateral Group 2, Collateral Group 3 and Collateral Group 4, but subject to the Senior prior distribution of amounts described under Section 3.01(e) below, to the related classes of Subordinate Certificates, in their order of seniority the sum of (i) Accrued Certificate Interest pro rata on the basis of the amount owing to each such Class, and (ii) their pro rata shares, based on their outstanding Certificate Balances, of the Subordinate Principal Distribution Amount for each such Collateral Group 5 Group, as applicable; provided, however, that on any Distribution Date on which the Subordination Level for any Class of Subordinate Certificates is less than its Subordination Level as of the Closing Date, the portion of the related Subordinate Principal Prepayment Amount otherwise allocable to the Class or Classes of the Subordinate Certificates junior to such class will be allocated pro rata to the most senior Class of Subordinate Certificates for which the Subordination Level on such Distribution DateDate is less than the Subordination Level as of the Closing Date and all Classes of Subordinate Certificates senior thereto; and
(iv) to each related Class of Certificates, until in the order of their seniority, the amount of any unreimbursed Realized Losses previously allocated to such Certificates; and
(v) after all of the other Classes of Certificates (other than the Residual Certificates) have been paid in full, the remainder, if any, which is expected to be zero, of the Available Distribution Amount for all Collateral Groups (other than any Fair Market Value Excess remaining after an optional termination of the Trust Estate) to the Class Principal Balance thereof RC Certificates to the extent such remainder is reduced applicable to zero;REMIC LT1 and otherwise to the Class R Certificates.
Appears in 1 contract
