Common use of Rounding Account Clause in Contracts

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates, funds on deposit in the Class 1-A-2 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 Certificates. Rounding of such distribution on the Class 1-A-2 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 Certificates has been reduced to zero. The Class 1-A-2 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Inc. shall rxxxxx xll xxxxme, gain, deduction or loss with respect thereto. The Class 1-A-2 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to Goldman, Sachs & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

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Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates, funds on deposit in the Class 1-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-4 Certificates. Rounding of such distribution on the Class 1-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-4 Certificates has been reduced to zero. The Class 1-A-2 A- 4 Rounding Account shall be an "outside xxxside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, and Goxxxxx, Sachs Lufkin & Co. Inc. shall rxxxxx xll xxxxmeJenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-4 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to xxx Xxxstee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03A(b), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-4 Rounding Account shall be distributed to GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Securxxxxx Xxxporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-4 Certificates (including amounts paid in respect of Realized Losses under the Class A-4 Policy) will be made among the Holders of the Class A-4 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-4 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-4 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-4 Certificates, with the provisions of this Section 4.03A.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates, funds on deposit in the Class 1-A-2 A-8 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-8 Certificates. Rounding of such distribution on the Class 1-A-2 A-8 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-8 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-8 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-8 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-8 Certificates has been reduced to zero. The Class 1-A-2 A-8 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Salomon Smith Barney Inc. shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with xx xxxx xxxx respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-8 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanding anything herein to Notwithstandixx xxxxxxxx xexxxx xo the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03(f), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 A-8 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-8 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-8 Rounding Account shall be distributed to Goldman, Sachs & Co. Salomon Smith Barney Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates, funds on deposit in the Class 1-A-2 A-12 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-12 Certificates. Rounding of such distribution on the Class 1-A-2 A-12 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-12 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-12 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-12 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-12 Certificates has been reduced to zero. The Class 1-A-2 A-12 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanBear, Sachs & Co. Inc., and Goxxxxx, Sachs Stearns & Co. Inc. shall rxxxxx xll report axx xxxxme, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-12 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Bear, Stearns & Co. Inc. to the Trustee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 A-12 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-12 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-12 Rounding Account shall be distributed to GoldmanBear, Sachs Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates, funds on deposit in the Class 1-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-4 Certificates. Rounding of such distribution on the Class 1-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-4 Certificates has been reduced to zero. The Class 1-A-2 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs Morgan Stanley & Co. Inc.Incorporated, and Goxxxxx, Sachs xxx Mxxxxx Xtanley & Co. Inc. shall rxxxxx xll xxxxmeIncorporated xxxxx xxxxxx all income, gain, deduction or loss with respect thereto. The Class 1-A-2 A-4 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to Goldman, Sachs & Co. Inc..

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates, funds on deposit in the Class 1-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-4 Certificates. Rounding of such distribution on the Class 1-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-4 Certificates has been reduced to zero. Amounts withdrawn from or deposited in the Class A-4 Rounding Account shall be allocated between Loan Groups and the Class A-4 Components in accordance with the Allocation Percentage (excluding therefrom amounts available from the Class A-4 Rounding Account). The Class 1-A-2 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs Xxxxxx Xxxxxxx & Co. Inc.Incorporated, and Goxxxxx, Sachs & Co. Inc. which shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with respect thereto. The Class 1-A-2 Rounding Account Trustee shall remain uninvested. Notwithstanding anything herein to the contrarydistribute interest earnings, if any, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then amounts held in the Class 1-A-2 A-4 Rounding Account shall be paid as such interest is earned pursuant to written instructions from the Available Funds for such Distribution Date Xxxxxx Xxxxxxx & Co. Incorporated to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to Goldman, Sachs & Co. Inc.Trustee.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002-A12)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-5 Certificates, funds on deposit in the Class 1-A-2 A-5 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-5 Certificates. Rounding of such distribution on the Class 1-A-2 A-5 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-5 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-5 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-5 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-5 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-5 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-5 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-5 Certificates has been reduced to zero. The Class 1-A-2 A-5 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanBear, Sachs Stearns & Co. Inc., and GoxxxxxBear, Sachs Steaxxx & Co. Xo. Inc. shall rxxxxx xll xxxxmereport alx xxxxxe, gain, deduction or loss with respect thereto. The Class 1-A-2 A-5 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-5 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-5 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 A-5 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-5 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-5 Rounding Account shall be distributed to GoldmanBear, Sachs Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-10 Certificates, funds on deposit in the Class 1-A-2 A-10 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-10 Certificates. Rounding of such distribution on the Class 1-A-2 A-10 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-10 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-10 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-10 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-10 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-10 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-10 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-10 Certificates has been reduced to zero. The Class 1-A-2 A-10 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanBear, Sachs & Co. Inc., and Goxxxxx, Sachs Stearns & Co. Inc. shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with losx xxxx respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-10 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Bear, Stearns & Co. Inc. to the Trustee. Notwithstanding anything herein anytxxxx xxrein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-10 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-10 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03(f), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 A-10 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-10 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-10 Rounding Account shall be distributed to GoldmanBear, Sachs Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-11 Certificates, funds on deposit in the Class 1-A-2 A-11 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-11 Certificates. Rounding of such distribution on the Class 1-A-2 A-11 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-11 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-11 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-11 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-11 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-11 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-11 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-11 Certificates has been reduced to zero. The Class 1-A-2 A-11 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, and Goxxxxx, Sachs Lufkin & Co. Inc. shall rxxxxx xll xxxxmeJenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-11 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to xxx Xxxstee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-11 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-11 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03B(b), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-11 Rounding Account shall be distributed to GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Secuxxxxxx Xxrporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-11 Certificates (including amounts paid in respect of Realized Losses under the Class A-11 Policy) will be made among the Holders of the Class A-11 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-11 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-11 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-11 Certificates, with the provisions of this Section 4.03B.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-13 Certificates, funds on deposit in the Class 1-A-2 A-13 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-13 Certificates. Rounding of such distribution on the Class 1-A-2 A-13 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-13 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-13 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-13 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-13 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-13 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-13 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-13 Certificates has been reduced to zero. The Class 1-A-2 A-13 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, and Goxxxxx, Sachs Lufkin & Co. Inc. shall rxxxxx xll xxxxmeJenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-13 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to xxx Xxxstee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-13 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-13 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03D(b), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-13 Rounding Account shall be distributed to GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Secuxxxxxx Xxrporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-13 Certificates (including amounts paid in respect of Realized Losses under the Class A-13 Policy) will be made among the Holders of the Class A-13 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-13 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-13 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-13 Certificates, with the provisions of this Section 4.03D.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-3 Certificates, funds on deposit in the Class 1-A-2 A-3 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-3 Certificates. Rounding of such distribution on the Class 1-A-2 A-3 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-3 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-3 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-3 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-3 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-3 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-3 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-3 Certificates has been reduced to zero. The Class 1-A-2 A-3 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Salomon Smith Barney Inc. shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with xx xxxx xxxx respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-3 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanding anything herein Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03(f), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-3 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-3 Rounding Account shall be distributed to Goldman, Sachs & Co. Salomon Smith Barney Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates, funds on deposit in the Class 1III-A-2 A-5 Rounding Account shall be, to the extent needed, withdrawn by the Trustee Trust Administrator and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Principal Balance to be made on the Class 1III-A-2 A-5 Certificates. Rounding of such distribution on the Class 1III-A-2 A-5 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1III-A-2 A-5 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates are to be made, the aggregate amount of such distributions allocable to the a Class 1III-A-2 Certificates A-5 Certificate shall be applied first to repay any funds withdrawn from the Class 1III-A-2 A-5 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates has been reduced to zero. The Class 1III-A-2 A-5 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Inc. Credit Suisse First Boston Corporation. Credit Suisse First Boston Corporation shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with respect thereto. The Class 1-A-2 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates will reduce the Class Certificate Principal Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Principal Balance of the Class 1III-A-2 A-5 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.07(f), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1III-A-2 A-5 Rounding Account shall be paid from the Available Funds Distribution Amount for such Distribution Date to the Class 1III-A-2 A-5 Rounding Account. Any funds then on deposit in such Class 1-A-2 a Rounding Account shall be distributed to Goldman, Sachs & Co. Inc.Credit Suisse First Boston Corporation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Fir Bo Sec Cor CSFB Mort Ps Th CRT Ser 2001-11)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates, funds on deposit in the Class 1-A-2 A-12 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-12 Certificates. Rounding of such distribution on the Class 1-A-2 A-12 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-12 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-12 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-12 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-12 Certificates has been reduced to zero. The Class 1-A-2 A-12 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, and Goxxxxx, Sachs Lufkin & Co. Inc. shall rxxxxx xll xxxxmeJenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-12 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to xxx Xxxstee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03C(b), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-12 Rounding Account shall be distributed to GoldmanDonaldson, Sachs Lufkin & Co. Inc.Jenrette Securxxxxx Xxxporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-12 Certificates (including amounts paid in respect of Realized Losses under the Class A-12 Policy) will be made among the Holders of the Class A-12 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-12 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-12 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-12 Certificates, with the provisions of this Section 4.03C.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates, funds on deposit in the Class 1-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-4 Certificates. Rounding of such distribution on the Class 1-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-4 Certificates has been reduced to zero. The Class 1-A-2 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs Morgan Stanley & Co. Inc.Incorporated, and Goxxxxx, Sachs Morgan Stanley & Co. Inc. shall rxxxxx xll xxxxmeIncorpxxxxxx xxxxx xeport all income, gain, deduction or loss dxxxxxxox xx xxss with respect thereto. The Class 1-A-2 A-4 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to Goldman, Sachs & Co. Inc..

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

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Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates, funds on deposit in the Class 1-A-2 A-12 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-12 Certificates. Rounding of such distribution on the Class 1-A-2 A-12 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-12 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-12 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-12 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-12 Certificates has been reduced to zero. The Class 1-A-2 A-12 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanBear, Sachs Xxxxxxx & Co. Inc.Inc. Bear, and Goxxxxx, Sachs Xxxxxxx & Co. Inc. shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with respect thereto. The Amounts on deposit in the Class 1-A-2 A-12 Rounding Account shall will remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-12 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 A-12 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-12 Rounding Account. Any funds then on deposit in such the Class 1-A-2 A-12 Rounding Account shall be distributed to GoldmanBear, Sachs Xxxxxxx & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates, funds on deposit in the Class 1-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-4 Certificates. Rounding of such distribution on the Class 1-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-4 Certificates has been reduced to zero. The Class 1-A-2 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs Morgan Stanley & Co. Inc.Incorporated, and Goxxxxx, Sachs & Co. Inc. shall rxxxxx xll xxxxmexxxxh xxxxx report all income, gain, deduction or loss with respect thereto. The Class 1-A-2 Rounding Account Trustee shall remain uninvested. Notwithstanding anything herein to the contrarydistribute interest earnings, if any, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then amounts held in the Class 1-A-2 A-4 Rounding Account shall be paid as such interest is earned pursuant to written instructions from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to Goldman, Sachs Morgan Stanley & Co. Inc.Incorporated xx xxe Xxxxxxe.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002-A14j)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates, funds on deposit in the Class 1-A-2 A-8 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-8 Certificates. Rounding of such distribution on the Class 1-A-2 A-8 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-8 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-8 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-8 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-8 Certificates has been reduced to zero. The Class 1-A-2 A-8 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanBear, Sachs Stearns & Co. Inc., and GoxxxxxBear, Sachs Stexxxx & Co. Inc. shall rxxxxx xll report axx xxxxme, gain, deduction or loss with respect thereto. The Class 1-A-2 A-8 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-8 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 A-8 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-8 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-8 Rounding Account shall be distributed to GoldmanBear, Sachs Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2003-A7)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Principal Balance of the Class 12-A-2 A-4 Certificates, funds on deposit in the Class 12-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee Securities Administrator and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Principal Balance to be made on the Class 12-A-2 A-4 Certificates. Rounding of such distribution on the Class 12-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 12-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Principal Balance of the Class 12-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Principal Balance of the Class 12-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 12-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 12-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Principal Balance of the Class 12-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Principal Balance of the Class 12-A-2 A-4 Certificates has been reduced to zero. The Class 12-A-2 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs Morgan Stanley & Co. Inc.Incorporated, and Goxxxxx, Sachs xxx Mxxxxx Xtanley & Co. Inc. shall rxxxxx xll xxxxmeIncorporated xxxxx xxxxxx all income, gain, deduction or loss with respect thereto. The Class 12-A-2 A-4 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to Goldman, Sachs & Co. Inc..

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2004-3)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates, funds on deposit in the Class 1-A-2 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-4 Certificates. Rounding of such distribution on the Class 1-A-2 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-4 Certificates has been reduced to zero. The Class 1-A-2 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Xxxxxx Brothers Inc. shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-4 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Xxxxxx Brothers Inc. to the Trustee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-4 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03(f), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 A-4 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-4 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-4 Rounding Account shall be distributed to Goldman, Sachs & Co. Xxxxxx Brothers Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-9 Certificates, funds on deposit in the Class 1-A-2 A-9 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-9 Certificates. Rounding of such distribution on the Class 1-A-2 A-9 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 A-9 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-9 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-9 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-9 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 A-9 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-9 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-9 Certificates has been reduced to zero. The Class 1-A-2 A-9 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Xxxxxx Brothers Inc. Xxxxxx Brothers Inc. shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class 1-A-2 A-9 Rounding Account shall remain uninvestedas such interest is earned pursuant to written instructions from Xxxxxx Brothers Inc. to the Trustee. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-9 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-9 Certificates are made in accordance with the provisions set forth in Section 4.03(g4.03(f), an amount equal to the difference between $999.99 1,000 and the sum then held in the Class 1-A-2 A-9 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 A-9 Rounding Account. Any funds then on deposit in such Class 1-A-2 A-9 Rounding Account shall be distributed to Goldman, Sachs & Co. Xxxxxx Brothers Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates, funds on deposit in the Class 1-A-2 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 Certificates. Rounding of such distribution on the Class 1-A-2 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 Certificates has been reduced to zero. The Class 1-A-2 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanBear, Sachs Stearns & Co. Inc., and GoxxxxxBear, Sachs Stexxxx & Co. Inc. shall rxxxxx xll report axx xxxxme, gain, deduction or loss with respect thereto. The Class 1-A-2 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to GoldmanBear, Sachs Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2003 A10)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class 1-A-2 A-15 Certificates, funds on deposit in the Class 1-A-2 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class 1-A-2 A-15 Certificates. Rounding of such distribution on the Class 1-A-2 A-15 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class 1-A-2 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class 1-A-2 A-15 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-15 Certificates are to be made, the aggregate amount of such distributions allocable to the Class 1-A-2 A-15 Certificates shall be applied first to repay any funds withdrawn from the Class 1-A-2 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-15 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class 1-A-2 A-15 Certificates has been reduced to zero. The Class 1-A-2 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by GoldmanXxxxxxx Lynch, Sachs Pierce, Xxxxxx & Co. Inc.Xxxxx Incorporated, and GoxxxxxXxxxxxx Lynch, Sachs Pierce, Xxxxxx & Co. Inc. Xxxxx Incorporated shall rxxxxx xll xxxxmereport all income, gain, deduction or loss with respect thereto. The Class 1-A-2 Rounding Account shall remain uninvested. Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-15 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class 1-A-2 A-15 Certificates are made in accordance with the provisions set forth in Section 4.03(g), an amount equal to the difference between $999.99 and the sum then held in the Class 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class 1-A-2 Rounding Account. Any funds then on deposit in such Class 1-A-2 Rounding Account shall be distributed to GoldmanXxxxxxx Lynch, Sachs Pierce, Xxxxxx & Co. Inc.Xxxxx Incorporated.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

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