therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that principal is required to be distributed to the Special Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding Class and deposited for its benefit into the Certificate Account in accordance with Section 4.01(i)). Amounts on deposit in the Rounding Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass Thru Cert Series 2003-Ms7)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that principal is required to be distributed to the Special Retail Certificates pursuant to Section 4.04(a)(ii4.05(a)(ii), and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii4.05(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding Class and deposited for its benefit into the Certificate Account in accordance with Section 4.01(i4.04(ii)). Amounts on deposit in the Rounding Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 R-3 Residual Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass THR Cert Ser 2003 Ms8)
therein. The Master Servicer Certificate Administrator shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer Certificate Administrator determines that principal is required to be distributed to the Special Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer Certificate Administrator shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class, with respect to which the Master Servicer Certificate Administrator determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer Certificate Administrator shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master ServicerCertificate Administrator. Any amounts withdrawn by the Trustee from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding Class and deposited for its benefit into the Certificate Account in accordance with Section 4.01(i))4.01. Amounts on deposit in the Rounding Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract
Samples: Trust Agreement (Washington Mutual Mortgage Securities Corp Series 2004-Rs1)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that principal is required to be distributed to the Special Retail Certificates pursuant to Section 4.04(a)(ii4.05(a)(ii), and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such the Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding ClassClass by Pro Rata Allocation, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii4.05(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding the Class II-A-3-L Regular Interest and deposited for its benefit into the Certificate Account in accordance with Section 4.01(i4.04(ii)). Amounts on deposit in the Rounding Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class by Pro Rata Allocation and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual InterestCertificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Series 2001-5)
therein. The Master Servicer Certificate Administrator shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer Certificate Administrator determines that amounts are available out of the Available Distribution Amount for distributions of principal is required to be distributed to on the Special Retail Certificates pursuant to Section 4.04(a)(ii)Certificates, and the aggregate amount allocable to such distributions of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer Certificate Administrator shall notify withdraw from the Trustee by Noon New York City time two Business Days prior to such Distribution Date of Rounding Account the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss Realized Loss is allocated to the Special Retail Certificates or its Corresponding Classpursuant to Section 6.04, with respect to which the Master Servicer Certificate Administrator determines that amounts are available out of the Available Distribution Amount for distributions of principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii)on the Retail Certificates, the aggregate amount of allocable to each such principal Class will be applied first to repay to the Rounding Account replenish any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such the aggregate amount allocable to distributions of principal on each such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee Certificate Administrator 80 shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicerapplicable Rounding Amount. Any amounts withdrawn by the Trustee Certificate Administrator from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding Class and deposited for its benefit into paragraph. Funds held in the Certificate Account shall be invested as described in accordance with Section 4.01(i)). Amounts on deposit in the Rounding Account shall not be invested4.05. On the first Distribution Date or promptly after the earliest earlier of (i) the Credit Support Depletion Date, Date and (ii) the date on which any loss Realized Loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced pursuant to zeroSection 6.04, the Trustee Certificate Administrator shall remit be entitled to withdraw and pay to itself as additional compensation any remaining amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual InterestAccount.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that principal is required to be distributed to the Special Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such the Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding ClassClass by Pro Rata Allocation, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding the Class A-3-L Regular Interest and deposited for its benefit into the Certificate Account in accordance with Section 4.01(i4.01(ii)). Amounts on deposit in the Rounding Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class by Pro Rata Allocation and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual InterestR-1 Certificates.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp Mort Pass Throu Cert Ser 2000 6)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal is required to be distributed to on the Special Retail Certificates pursuant to Section 4.04(a)(ii)Class I-A-14 Certificates, and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior allocable to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount distributions of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by Noon noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates Class I-A-14 Certificateholders as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding the Class I-A-14-L Regular Interests and deposited for its their benefit into the Certificate Account in accordance with Section 4.01(i)). Amounts on deposit in the Class I-A-14 Rounding Account Accounts shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (PNC Mortgage Securities Corp)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that principal is required to be distributed to the Special Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding ClassDate, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the Servicer will instruct that the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Rounding Account shall be deposited in the Certificate Account for distribution to the Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to their Corresponding Class and deposited for its benefit into the Certificate Account in accordance with Section 4.01(i)4.01). Amounts on deposit in the Rounding Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract