Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause the Available Distribution Amount, in the following order of priority, to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Certificate Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:
(i) to Holders of REMIC 1 Regular Interest I-1-A through I-59-B, REMIC 1 Regular Interest P and REMIC 1 Regular Interest A-I, pro rata, in an amount equal to (A) Uncertificated Accrued Interest for such REMIC 1 Regular Interests for such Distribution Date, plus (B) any amounts payable in respect thereof remaining unpaid from previous Distribution Dates; and
(ii) to the extent of amounts remaining after the distributions made pursuant to clause (i) above, payments of principal shall be allocated as follows: first, to REMIC 1 Regular Interests I-1-A through I-59-B starting with the lowest numerical denomination until the Uncertificated Principal Balance of each such REMIC 1 Regular Interest is reduced to zero, provided that, for REMIC 1 Regular Interests with the same numerical denomination, such payments of principal shall be allocated pro rata between such REMIC 1 Regular Interests, and second to the extent of any Overcollateralization Release to REMIC 1 Regular Interest A-I until the Uncertificated Principal Balance of such REMIC 1 Regular Interest is reduced to zero.
(iii) to the Holders of REMIC 1 Regular Interest P, (A) on each Distribution Date, 100% of the amount paid in respect of Prepayment Charges and (B) on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter until $100 has been distributed pursuant to this clause;
(b) On each Distribution Date, the Trustee shall cause the Available Distribution Amount, in the following order of priority, to be distributed by REMIC 2 to REMIC 3 on account of the REMIC 2 Regular Interests or withdrawn from the Certificate Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-2 Interest), as the case may be:
(i) first, to the Holders of REMIC 2 Regular Interest IO, in an amount equal to (A) Uncertificated Accrued Interest for such REMIC 2 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates and second, to the Ho...
Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause in the following order of priority, the following amounts which shall be deemed to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be: With respect to the Group I Mortgage Loans:
(1) (i) to the Holders of REMIC 1 Regular Interest LT1, REMIC 1 Regular Interest LT1PF and REMIC 1 Regular Interest LTP in an amount equal to (A) the Uncertificated Accrued Interest for each REMIC 1 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates; and
Distributions on the REMIC Regular Interests. On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates, as the case may be:
(i) first, to Holders of REMIC 1 Regular Interest LT-AA, REMIC 1 Regular Interest LT-A1, REMIC 1 Regular Interest LT-A2, REMIC 1 Regular Interest LT-A3-1, REMIC 1 Regular Interest LT-A3-2, REMIC 1 Regular Interest LT-M1, REMIC 1 Regular Interest LT-M2, REMIC 1 Regular Interest LT-M3, REMIC 1 Regular Interest LT-M4, REMIC 1 Regular Interest LT-M5, REMIC 1 Regular Interest LT-M6, REMIC 1 Regular Interest LT-M7 and REMIC 1 Regular Interest LT-ZZ, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for each such REMIC 1 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 1 Regular Interest LT-ZZ shall be reduced and deferred when the REMIC 1 Overcollateralization Amount is less than the REMIC 1 Required Overcollateralization Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Accrued Interest Deferral Amount and such amount will be payable to the Holders of REMIC 1 Regular Interest LT-A1, REMIC 1 Regular Interest LT-A2, REMIC 1 Regular Interest LT-A3-1, REMIC 1 Regular Interest LT-A3-2, REMIC 1 Regular Interest LT-M1, REMIC 1 Regular Interest LT-M2, REMIC 1 Regular Interest LT-M3, REMIC 1 Regular Interest LT-M4, REMIC 1 Regular Interest LT-M5, REMIC 1 Regular Interest LT-M6 and REMIC 1 Regular Interest LT-M7 in the same proportion as the Overcollateralization Increase Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of REMIC 1 Regular Interest LT-ZZ shall be increased by such amount;
(ii) second, to the Holders of REMIC 1 Regular Interests, in an amount equal to the remainder of the Available Distribution Amount for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:
(a) 98.00% of such remainder (other than amounts payable under clause (c) below) to the Holders of REMIC 1 Regular Interest LT-AA, until the Uncertificated Principal Balance of such REMIC 1 Regular Interest is reduced to zero;
(b) 2.00% of such remainder (other than amounts payable under clause (c)...
Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause the sum of the Group I Interest Remittance Amount, Group II Interest Remittance Amount, Group I Principal Remittance Amount, and the Group II Principal Remittance Amount, in the following order of priority, to be distributed by REMIC I/II-1 to REMIC I/II-2 on account of the REMIC I/II-1 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates (in respect of the Class I/II-1R Interest), as the case may be:
(i) first, to the Holders of REMIC I/II-1 Regular Ixxxxxxxx XX, XX0, XXX0, XXX0, XXX0, IIA4, M0, X0, X0, X0, X0, X0, X0, X0, X0, M10, B1, B2, B3, B4 and ZZ, pro rata, an amount equal to (A) the Uncertificated Accrued Interest for each such REMIC I/II-1 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC I/II-1 Regular Interest ZZ shall be reduced and deferred when the REMIC I/II-1 Overcollateralized Amount is less than the REMIC I/II-1 Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum I/II-ZZ Uncertificated Accrued Interest Deferral Amount and such amount will be payable to the Holders of REMIC I/II-1 Regular Interests IA1, IIA1, IIA2, IIA3, IIA4, M1, M2, M3, M0, X0, X0, X0, X0, X0, X00, X0, X0, X0, and B4 in the same proportion as the Group I/II Extra Principal Distribution Amount is allocated to the Corresponding Certificates;
(ii) second, the remainder of the Group I/II Available Funds for such Distribution Date after the distributions in clause (i), shall be allocated as follows:
(A) 98.00% to the Holders of REMIC I/II-1 Regular Interests AA and P, in that order, until the Uncertificated Principal Balance of such REMIC I/II-1 Regular Interest is reduced to zero, provided, however, that REMIC I/II-1 Regular Interest P shall not be reduced until the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter, at which point such amount shall be distributed to REMIC I/II-1 Regular Interest P, until $100 has been distributed to REMIC I/II-1 Regular Interest P pursuant to this clause;
(B) to the Holders of REMIC I/II-1 Regular Interests IA1, IIA1, IIA2, IIA3, IIA4, M0, X0, X0, X0, X0, X0, X0, X0, X0, M10, B1, B2, B3 and B4...
Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause the Available Funds, in the following order of priority, to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:
(1) (i) first, to the Holders of REMIC 1 Regular Interest LT1B, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates and second, to Holders of REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1P in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates; and
Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause the sum of the Group I Interest Remittance Amount, the Group II Interest Remittance Amount, the Group I Principal Remittance Amount and the Group II Principal Remittance Amount, in the following order of priority, to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:
(i) first, to the Holders of REMIC 1 Regular Interests A, G1-A, G1-B, G2-A, G2-B and P, pro rata, an amount equal to (A) the Uncertificated Accrued Interest for each such REMIC 1 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates.
(ii) second, to the Holders of REMIC 1 Regular Xxxxxxxxx X0-X, X0-X, X0-X and G2-B in such a manner as to keep: (A) the Uncertificated Principal Balance of REMIC 1 Regular Interest G1-A equal to 1/10 the aggregate Certificate Principal Balance of the Group I Senior Certificates; (B) the Uncertificated Principal Balance of REMIC 1 Regular Interest G1-B equal to 1/10 the Group I Subordinate Amount; (C) the Uncertificated Principal Balance of REMIC 1 Regular Interest G2-A equal to 1/10 the aggregate Certificate Principal Balance of the Group II Senior Certificates; and (D) the Uncertificated Principal Balance of REMIC 1 Regular Interest G2-B equal to 1/10 the Group II Subordinate Amount; and
(iii) then, to the Holders of REMIC 1 Regular Interests A and P, in that order, in each case until the Uncertificated Principal Balances of such REMIC 1 Regular Interests have been reduced to zero; and
(iv) thereafter, to the Holders of the Class R Certificates in respect of the Class R-1 Interest.
(b) On each Distribution Date, the Trustee shall cause the sum of the Group I Interest Remittance Amount, the Group II Interest Remittance Amount, the Group I Principal Remittance Amount and the Group II Principal Remittance Amount, in the following order of priority, to be distributed by REMIC 2 to REMIC 3 on account of the REMIC 2 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates (in respect of the Class R-2 Interest), as the case may be:
(i) first, to the Holders of REMIC 2 Regular Interest FMR IO, an amount equal to (A) the Uncertificated Accrued Interest for such REMIC 1 Regular Interest fo...
Distributions on the REMIC Regular Interests. With respect to the Group I Mortgage Loans:
(1) (i) to the Holders of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B and REMIC 1 Regular Interest LT1P in an amount equal to (A) the Uncertificated Accrued Interest for each REMIC 1 Regular Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates; and
Distributions on the REMIC Regular Interests. Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular Interests, in each case from the related Loan Group, first, to REMIC I Regular Interest LT-1B, REMIC I Regular Interest LT-2B, REMIC I Regular Interest LT-3B, REMIC I Regular Interest LT-4B, REMIC I Regular Interest LT-5B, REMIC I Regular Interest LT-6B and REMIC I Regular Interest LT-7B until the Uncertificated Principal Balance of REMIC I Regular Interest LT-1B, REMIC I Regular Interest LT-2B, REMIC I Regular Interest LT-3B, REMIC I Regular Interest LT-4B, REMIC I Regular Interest LT-5B, REMIC I Regular Interest LT-6B and REMIC I Regular Interest LT-7B is reduced to zero; second, to REMIC I Regular Interest LT- 2PF, REMIC I Regular Interest LT-4PF, REMIC I Regular Interest LT-5PF and REMIC I Regular Interest LT-6PF, until the Uncertificated Principal Balance of REMIC I Regular Interest LT-2PF, REMIC I Regular Interest LT-4PF, REMIC I Regular Interest LT-5PF and REMIC I Regular Interest LT-6PF, is reduced to zero. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balance. Any remaining amount to the Class R Certificates (with respect to Component R-1). On each Distribution Date, amounts representing Prepayment Charges on the Loans serviced by GMAC shall be deemed distributed to REMIC I Regular Interest LT-P1 and amounts representing Prepayment Charges on the Loans serviced by GreenPoint, National City and RFC shall be deemed to be distributed to REMIC I Regular Interest LT-P2, provided that such amounts shall not reduce the Uncertificated Principal Balance of each such REMIC I Regular Interest. On the Distribution Date immediately following the expiration of the latest Prepayment Charge term as identified on the Prepayment Charge Schedule, $100 shall be deemed distributed in respect of each of REMIC I Regular Interest LT-P1 and REMIC I Regular Interest LT-P2 in reduction of the Uncertificated Principal Balance thereof. Distributions of principal from the Loans shall be deemed to be made to the REMIC II Regular Interests, in each case from the related Loan Group, first, to REMIC II Regular Interest LT-1SUB, REMIC II Regular Interest LT-2SUB, REMIC II Regular Interest LT-3SUB, REMIC II Regular Interest LT-4SUB, REMIC II Regular Interest LT-5SUB, REMIC II Regular Interest LT-6SUB and REMIC II Regular Interest LT-7SUB, as applicable, so that...
Distributions on the REMIC Regular Interests. On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates, as the case may be:
(1) Interest shall be payable to the REMIC 1 Regular Interests at the Uncertificated REMIC 1 Pass-Through Rate for each such REMIC 1 Regular Interest on the related Uncertificated Principal Balance; provided however, (i) to the extent that any Net Deferred Interest is allocated to the Corresponding Certificates, the Uncertificated Principal Balances of the REMIC 1 Regular Interests shall be increased by such amount and (ii) to the extent any Net Deferred Interest is allocated to the Class X-P Certificates, the Uncertificated Principal Balances of the REMIC Regular Interests shall be increased, pro rata, by such amount.
(2) Distributions of principal shall be deemed to be made from amounts received on the Mortgage Loans to the REMIC 1 Regular Interests in the same manner and priority as payments are made to the Corresponding Certificates; and
(3) Any remaining amounts shall be distributed to the Class R Certificates (in respect of the Class R-1 Interest).
Distributions on the REMIC Regular Interests. On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R Certificates, as the case may be:
(1) Interest shall be payable to the REMIC 1 Regular Interests at the Uncertificated REMIC 1 Pass-Through Rate for each such REMIC 1 Regular Interest on the related Uncertificated Principal Balance; provided however, to the extent that any Net Deferred Interest is allocated to the Corresponding Certificates, the Uncertificated Principal Balances of the REMIC 1 Regular Interests shall be increased by such amount.
(2) Distributions of principal shall be deemed to be made from amounts received on the Mortgage Loans to the REMIC 1 Regular Interests in the same manner and priority as payments are made to the Corresponding Certificates; and
(3) Any remaining amounts shall be distributed to the Class R Certificates (in respect of the Class R-1 Interest).
