Common use of Various Reinstatement Amounts Clause in Contracts

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior to such Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier Regular Interest for such Distribution Date.

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp), Pooling and Servicing Agreement (CWCapital Commercial Funding Corp.), Pooling and Servicing Agreement (GCCFC 2005-Gg3)

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Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such the next succeeding Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier Regular Interest for such Distribution Date.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Greenwich Capital Comm Mort Pass THR Certs Ser 2003-C2), Pooling and Servicing Agreement (Greenwich Capital Comm Mort Pass THR Certs Ser 2003-C2)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C5), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C5)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)); and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant -250- to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Loan-Specific Certificates) shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Loan-Specific Certificates) on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Net Principal Distribution Amount for purposes of calculating the Adjusted Net Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of the Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Class IUU Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Class IUU Certificates) shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Class IUU Certificates) on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Net Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C1), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C1)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of REMIC I Regular Interest ___-B and REMIC I Regular Interest ___-B) that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates) shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates) on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Net Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp Ii), Pooling and Servicing Agreement (Structured Asset Securities Corp Ii)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' 's Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests . (d) If any lost Distributable Certificate Interest is reinstated with respect to a any Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be referred reinstated with respect to herein such Class's Corresponding REMIC II Regular Interest (or, in the case of the Class X Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular Class X REMIC III Component, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class X REMIC III Component's Corresponding REMIC II Regular Interest). Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the "Lower-Tier unpaid Uncertificated Distributable Interest Principal Reinstatement Amount" for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateInterest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TIAA Seasoned Commercial Mortgage Trust 2007-C4)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior to such Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Uncertificated Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier Regular Interest for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp. Commercial Mortgage Trust 2006-Gg7)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such the next succeeding Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier REMIC II Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Uncertificated Principal Balance of a Lower-Tier REMIC II Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest REMIC II Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution Date. (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb Ubs Com Mort Tr 2003-C8)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Floating Rate Certificates) and the Group FL REMIC III Regular Interests. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates (exclusive of the Class A-2FL Certificates) and the Class A-2FL REMIC III Regular Interest, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates and such Group FL REMIC III Regular Interest with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the subject Distribution Date pursuant to Section 4.01(a)); second, to the Class A-M Certificates and the Class A-MFL REMIC III Regular Interest, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for the Class A-M Certificates and the Class A-MFL REMIC III Regular Interest with respect to such Distribution Date (minus any amount reimbursed in respect of such respective Loss Reimbursement Amounts on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to the Loss Reimbursement Amount, if any, for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates or a particular Group FL REMIC III Regular Interest shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates or such Group FL REMIC III Regular Interest, as the case may be, for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates or such Group FL REMIC III Regular Interest, as the case may be, on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates or any Group FL REMIC III Regular Interest on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates or Group FL REMIC III Regular Interests on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates or the respective Group FL REMIC III Regular Interests through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates or any Group FL REMIC III Regular Interest, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates or Group FL REMIC III Regular Interest shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates or such Group FL REMIC III Regular Interest, as the case may be, from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates or any Group FL REMIC III Regular Interest shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest CertificatesCertificates or such Group FL REMIC III Regular Interest, as the case may be. (c) If the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Floating Rate Certificates) or any Group FL REMIC III Regular Interest is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' 's or such Group FL REMIC III Regular Interest's Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests . (d) If any lost Distributable Certificate Interest is reinstated with respect to a any Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Certificates or any Group FL REMIC III Regular Interest on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be referred reinstated with respect to herein such Class's or such Group FL REMIC III Regular Interest's Corresponding REMIC II Regular Interest (or, in the case of the Class X Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular Class X REMIC III Component, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class X REMIC III Component's Corresponding REMIC II Regular Interest). Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the "Lower-Tier unpaid Uncertificated Distributable Interest Principal Reinstatement Amount" for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateInterest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C6)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of REMIC I Regular Interest CM-B and REMIC I Regular Interest SP-B) that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates) shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates) on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Net Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C7)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01 (a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest aggregate Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular InterestsInterest(s) shall be deemed to have first been increased on such Distribution Date by the exact same amount, with 40% of such increase to be added to the Uncertificated Principal Balance of such Class' Corresponding REMIC II Regular Interest with the designation that ends "--Prime" and 60% of such increase to be added to the Uncertificated Principal Balance(s) of such Class' other Corresponding REMIC II Regular Interest(s). In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance CertificatesCertificates (in addition to a Corresponding REMIC II Regular Interest with a designation that ends "--Prime"), the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such multiple additional Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such -288- Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C2)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)); and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, -235- such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C1)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool (net of the Uncertificated Principal Balances of the STML Group B REMIC I Regular Interests) that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Loan-Specific Certificates) shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Loan-Specific Certificates) on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Net Principal Distribution Amount for purposes of calculating the Adjusted Net Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C3)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(m)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class's Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular Class X REMIC III Component that relates to such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class X REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C7)

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Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of the Class X-CL or Class X-CP Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb-Ubs Comm Mort Trust 2004-C2)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Class A-2FL Certificates) and the Class A-2FL REMIC III Regular Interest. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates (exclusive of the Class A-2FL Certificates) and the Class A-2FL REMIC III Regular Interest, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates and the Class A-2FL REMIC III Regular Interest with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the subject Distribution Date pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect -281- of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Class A-2FL Certificates) or to the Class A-2FL REMIC III Regular Interest shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates or the Class A-2FL REMIC III Regular Interest, as the case may be, for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates or the Class A-2FL REMIC III Regular Interest, as the case may be, on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Class A-2FL Certificates) or the Class A-2FL REMIC III Regular Interest on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates (exclusive of the Class A-2FL Certificates) or the Class A-2FL REMIC III Regular Interest on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates and/or the Class A-2FL REMIC III Regular Interest through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates or the Class A-2FL REMIC III Regular Interest, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates or the Class A-2FL REMIC III Regular Interest, as the case may be, shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates or the Class A-2FL REMIC III Regular Interest, as the case may be, from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates or the Class A-2FL REMIC III Regular Interest shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest CertificatesCertificates or the Class A-2FL REMIC III Regular Interest, as the case may be. (c) If the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Class A-2FL Certificates) or of the Class A-2FL REMIC III Regular Interest is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' the Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) with respect thereto shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests . (d) If any lost Distributable Certificate Interest is reinstated with respect to a any Class of Principal Balance Certificates, the increases in the respective Lower-Tier Regular Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount Certificates or with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Class A-2FL REMIC III Regular Interest on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be referred reinstated with respect to herein the Corresponding REMIC II Regular Interest in respect thereof (or, in the case of the Class X Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular Class X REMIC III Component, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class X REMIC III Component's Corresponding REMIC II Regular Interest). Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the "Lower-Tier unpaid Uncertificated Distributable Interest Principal Reinstatement Amount" for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateInterest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2008-C1)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C6)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, Certificates up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the Class A-M Certificates, and then to the Class A-J Certificates, and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior to such Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Principal Balance Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Principal Balance Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Principal Balance Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier Regular Interest (or, if applicable, the aggregate Uncertificated Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Uncertificated Principal Balance of a Uncertificated Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Uncertificated Lower-Tier Regular Interest for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (COBALT CMBS Commercial Mortgage Trust 2007-C3)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of the Class X Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Ii Lb-Ubs Comm Mort Trust 2004-C4)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the Class A-M Certificates and the Class A-MFL REMIC II Regular Interest, on a pro rata basis, and then to the Class A-J Certificates and the Class A-JFL REMIC II Regular Interest, on a pro rata basis, and then to the remaining Classes of Principal Balance Certificates (other than the Class A-MFL and Class A-JFL Certificates), sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest or the Class A-JFL REMIC II Regular Interest immediately prior to such Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest or Class A-JFL REMIC II Regular Interest shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest or Class A-JFL REMIC II Regular Interest on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest or Class A-JFL REMIC II Regular Interest on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest or Class A-JFL REMIC II Regular Interest on any Distribution Date pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates or the Class A-MFL REMIC II Regular Interest or Class A-JFL REMIC II Regular Interest through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates or the Class A-MFL REMIC II Regular Interest or Class A-JFL REMIC II Regular Interest shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest Certificates or Class A-JFL REMIC II Regular Interest from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest Certificates or Class A-JFL REMIC II Regular Interest shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Principal Balance Certificates or the Class A-MFL REMIC II Regular Interest Certificatesor Class A-JFL REMIC II Regular Interest. (c) If the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Class A-MFL and Class A-JFL Certificates) or the Class A-MFL REMIC II Regular Interest and Class A-JFL REMIC II Regular Interest is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier Regular Interest (or, if applicable, the aggregate Uncertificated Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Uncertificated Principal Balance of a Uncertificated Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Uncertificated Lower-Tier Regular Interest for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (COBALT CMBS Commercial Mortgage Trust 2007-C2)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool (net of the aggregate Stated Principal Balance of the Courtyard by Marriott Non-Pooled Loan Component and the 000 Xxxx Xxxxxx Non-Pooled Loan Component) that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)), and then to the remaining Classes of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates), sequentially as among such Classes in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such the subject Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates) shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates (exclusive of the Loan-Specific Principal Balance Certificates) on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Net Principal Distribution Amount for purposes of calculating the Adjusted Net Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C3)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (excluding the Class OEA-B Certificates). If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to the next succeeding Distribution Date; and then to the remaining Classes of Principal Balance Certificates (excluding the Class OEA-B Certificates), sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior to such Distribution Date. Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts during the related Collection Period and the upward adjustment of the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered Amounts. (b) In addition, in connection with its reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded Principal Balance Reductions had resulted from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating to the Recovered Amounts associated with such reinstatement of outstanding principal. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Principal Balance of such Class' Corresponding Lower-Tier Regular Interests) shall be deemed to have first been increased by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Principal Balances of such Corresponding Lower-Tier Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier Regular Interest for such Distribution Date.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Greenwich Capital Commercial Funding Corp. Commercial Mortgage Pass-Through Certificates Series 2004-Gg1)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); and then to the remaining Classes of Principal Balance Certificates, sequentially in alphabetical order based on the respective Class designations thereof, in each case up to any Loss Reimbursement Amount for such Class of Principal Balance Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(j)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates (other than the Class X-OL Certificates), insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C7)

Various Reinstatement Amounts. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01 or 9.01, as applicable, the Trustee shall determine the amount, if any, by which (i) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date, exceeds (ii) the then aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates. If such an excess does exist, then the Trustee shall allocate the Total Principal Reinstatement Amount, if any, for the subject Distribution Date as follows until it is allocated in full: first, to all of the Classes of the Senior Class A Certificates, up to, and on a pro rata basis in accordance with, the respective Loss Reimbursement Amounts, if any, for such Classes of Senior Class A Certificates with respect to such Distribution Date (minus any amounts reimbursed in respect of such respective Loss Reimbursement Amounts on the next succeeding subject Distribution DateDate pursuant to Section 4.01(a)); second, to the Class A-M Certificates, up to any Loss Reimbursement Amount for the Class A-M Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); third, to the Class A-J Certificates, up to any Loss Reimbursement Amount for the Class A-J Certificates with respect to such Distribution Date (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(a)); and then to the remaining respective Classes of Principal Balance the Class B Through T Certificates, sequentially as among such Classes in alphabetical alphabetic order based on the respective Class designations thereofthereof (beginning with the Class B Certificates and ending with the Class T Certificates), in each case up to any Loss Reimbursement Amount for such the applicable Class of Principal Balance Class B Through T Certificates immediately prior with respect to such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(b)). Any portion of the Total Principal Reinstatement Amount for any Distribution Date that is allocated to a particular Class of Principal Balance Certificates shall be: (i) referred to herein as the "Class Principal Reinstatement Amount" in respect of such Class of Principal Balance Certificates for such Distribution Date; and (ii) added to the Class Principal Balance of such Class of Principal Balance Certificates on such Distribution Date. Notwithstanding anything to the contrary contained herein, the parties hereby acknowledge that the reinstatement of all or any portion of the Class Principal Balance of any Class of Principal Balance Certificates on any Distribution Date shall be a result of the collection of Recovered Amounts Amounts, Default Charges and/or Loss of Value Payments Received by the Trust during the related Collection Period and the upward adjustment addition of such Recovered Amounts, Default Charges and/or Loss of Value Payments to the Principal Distribution Amount for purposes of calculating the Adjusted Principal Distribution Amount for such Distribution Date as a result of such Recovered AmountsDate. (b) In addition, in connection with its the reinstatement of all or any portion of the Class Principal Balance of any one or more Classes of Principal Balance Certificates on any Distribution Date Date, pursuant to Section 4.05(a), the Trustee shall calculate the amount of lost Distributable Certificate Interest that would have accrued on the respective Classes of Regular Interest Certificates through and including the end of the Interest Accrual Period for such Distribution Date if no Unfunded reduction to the Class Principal Balance Reductions of any Class of Principal Balance Certificates, pursuant to Section 4.04(a), and no corresponding reduction to the Uncertificated Principal Balance of any REMIC II Regular Interest(s), pursuant to Section 4.04(b), had resulted on a prior Distribution Date from the reimbursement out of general collections of principal on the Mortgage Pool of the particular Advances relating (with interest thereon) that relate to the Recovered Amounts associated with such reinstatement of outstanding principalprincipal on the subject Distribution Date. Once determined, such lost Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be reinstated and become due and payable on future Distribution Dates as part of the unpaid Distributable Certificate Interest for such Class of Regular Interest Certificates from prior Distribution Dates. All such reinstated Distributable Certificate Interest in respect of any particular Class of Regular Interest Certificates shall be treated the same as any other unpaid Distributable Certificate Interest in respect of such Class of Regular Interest Certificates. (c) If the Class Principal Balance of any Class of Principal Balance Certificates is increased on any Distribution Date pursuant to Section 4.05(a), then the Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interest (or, if applicable, the aggregate Lower-Tier Interest Uncertificated Principal Balance of such Class' Corresponding Lower-Tier REMIC II Regular Interests) shall be deemed to have first been increased on such Distribution Date by the exact same amount. In circumstances where there are multiple Corresponding Lower-Tier REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the increases in the respective Lower-Tier Interest Uncertificated Principal Balances of such Corresponding Lower-Tier REMIC II Regular Interests as contemplated by the prior sentence shall be made in the reverse order that reductions are made to such Lower-Tier Interest Uncertificated Principal Balances pursuant to Section 4.04(b), in each case up to the amount of the Loss Reimbursement Amount with respect to the subject Lower-Tier Regular Interest for the next succeeding Distribution Date. The amount of each such increase in the Lower-Tier Interest Principal Balance of a Lower-Tier Regular Interest on any Distribution Date shall be referred to herein as the "Lower-Tier Interest Principal Reinstatement Amount" in respect of such Lower-Tier REMIC II Regular Interest for such Distribution DateDate (minus any amount reimbursed in respect of such Loss Reimbursement Amount on the subject Distribution Date pursuant to Section 4.01(l)). (d) If any lost Distributable Certificate Interest is reinstated with respect to any Class of Regular Interest Certificates on any Distribution Date pursuant to Section 4.05(b), then a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such Class' Corresponding REMIC II Regular Interest(s) (or, in the case of a Class of Interest-Only Certificates, insofar as such lost Distributable Certificate Interest corresponds to a particular REMIC III Component of such Class, a corresponding amount of Uncertificated Distributable Interest shall be reinstated with respect to such REMIC III Component's Corresponding REMIC II Regular Interest). In circumstances where there are multiple Corresponding REMIC II Regular Interests with respect to a Class of Principal Balance Certificates, the reinstatement of such lost Uncertificated Distributable Interest with respect to such Corresponding REMIC II Regular Interests as contemplated by the prior sentence shall be effected taking into account the respective portions of such lost Uncertificated Distributable Interest attributable to such Corresponding REMIC II Regular Interests. Once reinstated, such lost Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall become due and payable on future Distribution Dates as part of the unpaid Uncertificated Distributable Interest for such REMIC II Regular Interest from prior Distribution Dates. All such reinstated Uncertificated Distributable Interest in respect of any particular REMIC II Regular Interest shall be treated the same as any other unpaid Uncertificated Distributable Interest in respect of such REMIC II Regular Interest.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7)

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