Senior Principal Distribution Amount. 42 -vii- TABLE OF CONTENTS (continued) Page ---- Senior Subordinate Certificates...............................................................42 Servicer .....................................................................................42 Servicing Fee.................................................................................42 Servicing Officer.............................................................................43
Senior Principal Distribution Amount. As of any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect, the lesser of (i) the Principal Distribution Amount for that Distribution Date and (ii) the excess, if any, of (A) the sum of the Class Certificate Balances of the Senior Certificates immediately prior to that Distribution Date over (B) the lesser of (1) the product of (x) 40.40% and (y) the Pool Principal Balance as of the last day of the related Due Period and (2) the Pool Principal Balance as of the last day of the related Due Period minus the product of (x) 0.50% and (y) the Cut-off Date Pool Principal Balance. Senior Specified Enhancement Percentage As of any date of determination thereof, 59.60%.
Senior Principal Distribution Amount. As of any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect, the lesser of (i) the Principal Distribution Amount for that Distribution Date and (ii) the excess, if any, of (A) the sum of the Class Certificate Balances of the Senior Certificates immediately prior to that Distribution Date over (B) the lesser of (1) the product of (x) 38.20% and (y) the Aggregate Trust Fund Principal Balance as of the last day of the related Due Period and (2) the Aggregate Trust Fund Principal Balance as of the last day of the related Due Period minus the product of (x) 0.50% and (y) the Initial Aggregate Trust Fund Principal Balance. Senior Specified Enhancement Percentage As of any date of determination thereof, 61.80%.
Senior Principal Distribution Amount. 41 TABLE OF CONTENTS (continued)
Senior Principal Distribution Amount. 35 SENIOR SPECIFIED ENHANCEMENT PERCENTAGE 35 SERVICER............................... 35
Senior Principal Distribution Amount. For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1 (exclusive of the portion thereof attributable to principal distributions to the Class C-P-L Regular Interest pursuant to clauses (I)(a)(i) and (II)(a)(i) of the definition of “REMIC II Distribution Amount”), (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 (exclusive of the portion thereof attributable to principal distributions to the Class C-P-L Regular Interest pursuant to clauses (I)(a)(i) and (II)(a)(i) of the definition of “REMIC II Distribution Amount”) and (c) the Group 1 Senior Liquidation Amount.
Senior Principal Distribution Amount. For a Certificate Group and a Distribution Date, the sum of (1) the product of (a) the related Senior Percentage and (b) the principal portion of each Scheduled Payment on each Mortgage Loan in the related Mortgage Group due during the related Due Period; (2) the product of (a) the related Senior Prepayment Percentage and (b) each of the following amounts: (i) the principal portion of each full and partial principal prepayment made by a borrower on a Mortgage Loan in the related Mortgage Group during the related Prepayment Period; (ii) each other unscheduled collection, including Insurance Proceeds and net Liquidation Proceeds (other than with respect to any Mortgage Loan in the related Mortgage Group that was finally liquidated during the related Prepayment Period) representing or allocable to recoveries of principal of the related Mortgage Loans received during the related Prepayment Period, including any Subsequent Recoveries on the related Mortgage Loans; (iii) the principal portion of the Purchase Price of each Mortgage Loan purchased by ABN AMRO pursuant to the Servicing Agreement or the Seller pursuant hereto, due to a defect in documentation or a material breach of a representation and warranty with respect to such Mortgage Loan or, in the case of a permitted substitution of a Defective Mortgage Loan in the related Mortgage Group, the amount representing any principal adjustment in connection with any such replaced Mortgage Loan in the related Mortgage Group with respect to the related Prepayment Period; and (iv) with respect to Group 2, only on the Distribution Date immediately following the expiration of the Pre-Funding Period, any remaining amounts on deposit in the Pre-Funding Account. (3) with respect to unscheduled recoveries allocable to principal of any Mortgage Loan in the related Mortgage Group that was fully liquidated during the related Prepayment Period, the lesser of (a) the related Senior Prepayment Percentage of the net Liquidation Proceeds allocable to principal and (b) the product of (i) the related Senior Percentage for that date and (ii) the related remaining Stated Principal Balance of the related Mortgage Loan at the time of liquidation; (4) any amounts described in clauses (1) through (3) above that remain unpaid with respect to the Group from prior Distribution Dates. On any Distribution Date after the second Senior Termination Date has occurred, the Senior Principal Distribution Amount for the remaining Senior Certificates ...
Senior Principal Distribution Amount. 26 Servicer ........................................................... 26
Senior Principal Distribution Amount. For any Distribution Date, an amount equal to the sum of (a) the Group 1 Senior Percentage of the Principal Payment Amount for Loan Group 1, (b) the Group 1 Senior Prepayment Percentage of the Principal Prepayment Amount for Loan Group 1 and (c) the Group 1 Senior Liquidation Amount.
Senior Principal Distribution Amount. 24 Senior Step Down Conditions.......................................................25
