Subordination; Priority of Distributions. (a) The rights of the holders of any Subclass of Class M Certificates to receive distributions in respect thereof on any Distribution Date shall be subordinated to the rights of the Class A Certificateholders and the holders of each Class M Subclass having a lower numerical designation to receive distributions to the extent, and only to the extent, described herein. The right of the Servicer to receive its Servicing Fee and its Additional Servicing Compensation shall not be subordinated to the rights of Certificateholders.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Citicorp Residential Mortgage Trust Series 2006-1), Pooling and Servicing Agreement (Citicorp Residential Mortgage Trust Series 2006-3), Pooling Agreement (Citicorp Residential Mortgage Trust Series 2007-2)
Subordination; Priority of Distributions. (a) The rights of the holders of any Subclass of Class 1-M Certificates Certificateholders to receive distributions in respect thereof of the Certificates on any Distribution Date shall be subordinated to the rights of the Class A Certificateholders and the holders of each Class M Subclass having a lower numerical designation to receive distributions Priority Certificates to the extent, and only to the extent, described extent set forth herein. The right of the Servicer to receive its Servicing Fee and its Additional Servicing Compensation shall not be subordinated to the rights of Certificateholders.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Goldman Sachs Asset Backed Securities Corp)
