For Pool 1 definition
For Pool 1. The Principal Distribution Amount for Pool 1 will be distributed in the following order of priority:
(1) for deposit into the Swap Account, an amount equal to the lesser of (x) the product of (A) the amount of any Net Swap Payment or Swap Termination Payment owed to the Swap Counterparty on the related Swap Payment Date (to the extent not paid previously or from the Interest Remittance Amount for such Distribution Date) and (B) the Pool Percentage for Pool 1 for such Distribution Date and (y) the Principal Remittance Amount for Pool 1 for such Distribution Date;
(2) for deposit into the Swap Account, the amount of any Net Swap Payment or Swap Termination Payment owed to the Swap Counterparty on the related Swap Payment Date (after giving effect to distributions made pursuant to subsections 5.02(e)(i)(A)(1) above and 5.02(e)(i)(B)(1) below, and to the extent not paid previously or from the Interest Remittance Amount for such Distribution Date);
(3) to the Class A1 Certificates, until the Class Principal Amount of such Class has been reduced to zero; and
(4) for application pursuant to subsection 5.02(e)(ii) below, any such Principal Distribution Amount remaining undistributed for such Distribution Date.
For Pool 1. The Principal Distribution Amount for Pool 1 will be distributed in the following order of priority:
(1) to the Class 1-A5A and Class 1-A5B Certificates, on a pro rata basis, the Class 1-A5 Priority Amount, until the Class Principal Amount of such Class has been reduced to zero;
(2) to the Class 1-A1 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(3) concurrently, to the Class 1-A2A and Class 1-A2B Certificates, pro rata, in each case in proportion to their Class Principal Amounts, until the Class Principal Amount of each such Class has been reduced to zero;
(4) to the Class 1-A3 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(5) to the Class 1-A4 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(6) to the Group 2 Certificates, after giving effect to distributions pursuant to subsection 5.02(d)(i)(B)(1) below, in accordance with the Pool 2 Senior Priority, until the Class Principal Amount of each such Class has been reduced to zero;
(7) to the Class M1 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(8) to the Class M2 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(9) to the Class M3 Certificates, until the Class Principal Amount of such Class has been reduced to zero; and
(10) for application as part of Pool 1 Monthly Excess Cashflow for such Distribution Date, as provided in subsection (e) of this Section, any Principal Distribution Amount for Pool 1 remaining after application pursuant to clauses (1) through (9) above.
For Pool 1. The Principal Payment Amount for Pool 1 will be paid in the following order of priority:
(A) pro rata, to the Class 1A1 Notes and Class 1A2 Notes, on the basis of their respective Class Principal Amounts, until the respective Class Principal Amount of each such class has been reduced to zero; provided, however, if a Pool 1 Sequential Trigger Event is in effect, then sequentially, to the Class 1A1 and Class 1A2 Notes, in that order, until the Class Principal Amount of each such class has been reduced to zero;
(B) to the Class 2A1 Notes, after giving effect to payments pursuant to subsection 6.02(e)(i)(2)(A), until the Class Principal Amount of such class has been reduced to zero;
(C) to the Class M1 Notes, until the Class Principal Amount of such class has been reduced to zero;
(D) to the Class M2 Notes, until the Class Principal Amount of such class has been reduced to zero;
(E) to the Class M3 Notes, until the Class Principal Amount of such class has been reduced to zero;
(F) to the Class M4 Notes, until the Class Principal Amount of such class has been reduced to zero;
(G) to the Class M5 Notes, until the Class Principal Amount of such class has been reduced to zero;
(H) to the Class M6 Notes, until the Class Principal Amount of such class has been reduced to zero;
(I) to the Class M7 Notes, until the Class Principal Amount of such class has been reduced to zero;
(J) to the Class M8 Notes, until the Class Principal Amount of such class has been reduced to zero;
(K) to the Class M9 Notes, until the Class Principal Amount of such class has been reduced to zero;
(L) pro rata, to the Class B1A and Class B1F Notes, on the basis of their respective Class Principal Amounts, until the Class Principal Amount of each such class has been reduced to zero;
(M) to the Class B2 Notes, until the Class Principal Amount of such class has been reduced to zero;
(N) to the Class B3 Notes, until the Class Principal Amount of such class has been reduced to zero; and
(O) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (f) of this Section, any such Principal Payment Amount for Pool 1 remaining after application pursuant to clauses (A) through (N) above.
Examples of For Pool 1 in a sentence
For Pool 1 or Pool 2 and any Distribution Date, a fraction, the numerator of which is the Pool Balance for such Mortgage Pool for such Distribution Date and the denominator of which is the Pool 1-2 Aggregate Loan Balance for such Distribution Date.
For Pool 1 with respect to any Distribution Date a fraction, expressed as a percentage, the numerator of which is the Principal Remittance Amount for Pool 1 for such Distribution Date and the denominator of which is the aggregate of the Principal Remittance Amounts for Pool 1 and Pool 2 for such date.
More Definitions of For Pool 1
For Pool 1. The Principal Distribution Amount for Pool 1 will be distributed on each Distribution Date in the following order of priority:
(1) pro rata to the Class 1-A1A Certificates and Class 1-A1B Underlying Interest until the Class Principal Amount of each such Class has been reduced to zero;
(2) concurrently (a) 90% of the Principal Distribution Amount for Pool 1 available for distribution pursuant to this Section 5.02(c)(i)(A)(2) sequentially (i) pro rata to the Class 1-A2A1 Certificates and Class 1-A2A2 Underlying Interest until the Class Principal Amount of each such Class has been reduced to zero and (ii) pro rata to the Class 1-A3A1 Certificates and Class 1-A3A2 Underlying Interest until the Class Principal Amount of each such Class has been reduced to zero; and (b) 10% of the Principal Distribution Amount for Pool 1 available for distribution pursuant to this Section 5.02(c)(i)(A)(2) to the Class 1-A3B Underlying Interest until the Class Principal Amount of such Class has been reduced to zero;
(3) to the Class 1-A3B Underlying Interest until the Class Principal Amount of such Class has been reduced to zero;
(4) to the Certificate Insurer, any unreimbursed Guaranteed Distributions with respect to the Class 1-A3B Certificates, plus all amounts due to the Certificate Insurer under this Agreement and not previously paid to it, together with interest thereon at a per annum rate equal to the Prime Rate plus 3%, to the extent not paid pursuant to Sections 5.02(a) and (b) above;
(5) pro rata, to the Class 2-A1 Underlying Interest and Class 2-A2 Underlying Interest, after giving effect to distributions in Section 5.02(c)(i)(B)(1), until the Class Principal Amount of each such Class has been reduced to zero;
(6) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9 and Class M10 Certificates, sequentially, in that order, in each case until the Class Principal Amount of each such Class has been reduced to zero; and
(7) for application as part of the Monthly Excess Cashflow for such Distribution Date, pursuant to Section 5.02(d), any such Principal Distribution Amount remaining after application pursuant to Sections 5.02(c)(i)(A)(1) through (6) above.
For Pool 1. The Principal Distribution Amount for Pool 1 will be distributed on each Distribution Date in the following order of priority:
(1) pro rata (a) sequentially (1) to the Class 1-A1AU and (2) pro rata to the Class 1-A2A1 and Class 1-A2A2U and (b) to the Class 1-A2BU Certificates, in each case until the Class Principal Amount of such Class has been reduced to zero;
(2) pro rata (a) sequentially (1) to the Class 1-A3A Certificates and (2) to the Class 1-A4 Certificates and (b) to the Class 1-A3BU certificates, in each case until the Class Principal Amount of such Class has been reduced to zero;
(3) pro rata, to the Class 2-A1 and Class 2-A2 Certificates, after giving effect to distributions in Section 5.02(c)(i)(B)(1), until the Class Principal Amount of each such Class has been reduced to zero;
(4) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8 and Class M9 Certificates, sequentially, in that order, in each case until the Class Principal Amount of each such Class has been reduced to zero; and
(5) for application as part of the Monthly Excess Cashflow for such Distribution Date, pursuant to Section 5.02(d), any such Principal Distribution Amount remaining after application pursuant to Sections 5.02(c)(i)(A)(1) through (4) above.
For Pool 1. The Principal Payment Amount for Pool 1 will be paid in the following order of priority:
(A) sequentially, to the Class 1A1, Class 1A2 and Class 1A3 Notes, in that order, until the Class Principal Amount of each such class has been reduced to zero;
(B) pro rata, to the Class 2A1 and Class 2A2 Notes, on the basis of their respective Class Principal Amounts, after giving effect to payments pursuant to subsection 6.02(e)(i)(2)(A), until the respective Class Principal Amount of each such class has been reduced to zero; provided, however, that if a Pool 2 Sequential Trigger Event is in effect, then sequentially, to the Class 2A1 and Class 2A2 Notes, in that order, until the Class Principal Amount of each such class has been reduced to zero;
(C) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class B1, Class B2 and Class B3 Notes, in accordance with the Subordinate Priority, until the Class Principal Amount of each such class has been reduced to zero; and
(D) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (f) of this Section, any such Principal Payment Amount for Pool 1 remaining after application pursuant to clauses (A) through (C) above.
For Pool 1. The Principal Payment Amount for Pool 1 will be paid in the following order of priority:
(A) sequentially, to the Class 1A1, Class 1A2 and Class 1A3 Notes, in that order, until the Class Principal Amount of each such class has been reduced to zero;
(B) to the Class 2A1 Notes, after giving effect to payments pursuant to subsection 6.02(e)(i)(2)(A), until the Class Principal Amount of such class has been reduced to zero;
(C) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class B1, Class B2, Class B3 and Class B4 Notes, in accordance with the Subordinate Priority, until the Class Principal Amount of each such class has been reduced to zero; and
(D) for application as part of Monthly Excess Cashflow for such Payment Date, as provided for in subsection (f) of this Section, any such Principal Payment Amount for Pool 1 remaining after application pursuant to clauses (A) through (C) above.
For Pool 1. The Principal Distribution Amount for Pool 1 shall be distributed in the following order of priority:
(1) for deposit into the Supplemental Interest Trust Account, the Group 1 Swap Percentage of any Net Swap Payment or Swap Termination Payment owed to the Swap Counterparty (to the extent not distributed previously or from the Interest Remittance Amount in accordance with clause (b)(ii) above);
(2) concurrently, pro rata, based on Class Principal Amount of each such class, to the Group 1 Senior Certificates as follows:
(a) to the Class 1-A1A Certificates, until the Class Principal Amount of such Class has been reduced to zero; and
(b) to the Class 1-A1B Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(3) to the Group 2 Senior Certificates, after giving effect to the distributions in clause (d)(i)(B)(2) below, in accordance with the Pool 2 Senior Priority, until the Class Principal Amount of each such Class has been reduced to zero;
(4) to the Offered Subordinate Certificates, in accordance with the Subordinate Priority, until the Class Principal Amount of each such Class has been reduced to zero; and
(5) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (f) of this Section, any Principal Distribution Amount remaining after application pursuant to clauses (1) through (4) above.
For Pool 1. The Principal Distribution Amount for Pool 1 shall be distributed in the following order of priority:
(1) (a) for deposit into the Supplemental Interest Trust Account, the Group 1 Swap Percentage of any Net Swap Payment or Swap Termination Payment owed to the Swap Counterparty (to the extent not deposited previously from the Interest Remittance Amount in accordance with clauses (b)(A)(i) and (ii) above);
For Pool 1. Until the aggregate Certificate Principal Amounts of the Class 1-A, Class 2-A, Class 3-A, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6 and Class B Certificates equals the Target Amount for such Distribution Date, the Principal Distribution Amount for Pool 1 will be distributed in the following order of priority:
(1) to the Class 1-A Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(2) to the Class 2-A and Class 3-A Certificates, in proportion to their Class Principal Amounts, after giving effect to distributions pursuant to subsections 5.02(e)(i)(B)(1) and 5.02