Group II Subordinate Principal Distribution Amount. For any Distribution Date, the excess of (A) the sum of (i) the Group II Subordinate Percentage of the Principal Payment Amount for Loan Group II (exclusive of the portion thereof attributable to principal distributions to the Class II-P-L Regular Interest pursuant to clause (I)(b)(i) of the definition of "REMIC I Distribution Amount"), (ii) the Group II Subordinate Principal Prepayments Distribution Amount (without regard to the proviso in the definition thereof) and (iii) the Group II Subordinate Liquidation Amount over (B) the amounts required to be distributed to the Class II-P-L Regular Interest pursuant to clauses (I)(b)(v) and (I)(b)(vi) of the definition of "REMIC I Distribution Amount" on such Distribution Date. On any Distribution Date, the Group II Subordinate Principal Distribution Amount shall be allocated pro rata, by Class Principal Balance, among the Classes of Group II-X-X Regular Interests and paid in the order of distribution to such Classes pursuant to clause (I)(b) of the definition of "REMIC I Distribution Amount" except as otherwise stated in such definition. Notwithstanding the foregoing, on any Distribution Date prior to distributions on such date, if the Subordination Level for any Class of Group II-X-X Regular Interests is less than such Subordination Level as of the Closing Date, the pro rata portion of the Group II Subordinate Principal Prepayments Distribution Amount otherwise allocable to the Class or Classes of Group II-X-X Regular Interests junior to such Class will be distributed to the most senior Class of Group II-X-X Regular Interests for which the Subordination Level is less than the Subordination Level as of the Closing Date, and to the Class or Classes of Group II-X-X Regular Interests senior thereto, pro rata according to the Class Principal Balances of such Classes. For purposes of this definition and the definition of "Subordination Level," the relative seniority, from highest to lowest, of the Group II-X-X Regular Interests shall be as follows: Class II-B-1-L, Class II-B-2-L, Class II-B-3-L, Class II-B-4-L, Class II-B-5-L and Class II-B-6-L.
Group II Subordinate Principal Distribution Amount. With respect to the Group II Subordinate Certificates, the aggregate amount that would be payable as principal on such Group II Subordinate Certificates from Group II Available Funds, after application of Group II Available Funds (i) to make payments on the Group II Senior Certificates in accordance with Section 5.02(a)(i) items first and second and Section 5.02(e) and (ii) to make payments of Group II Accrued Certificate Interest to the Group II Subordinate Certificates in accordance with Section 5.02(a)(ii). Initial Bankruptcy Coverage Amount: $150,000.
Group II Subordinate Principal Distribution Amount. With respect to any Distribution Date and the Group II Subordinate Certificates and Loan Group II, will equal the excess of (A) the sum of (i) the Group II Subordinate Percentage of the Principal Payment Amount for Loan Group II (exclusive of the portion attributable to the Class II-P Principal Distribution Amount), (ii) the Group II Subordinate Prepayment Percentage of the Principal Prepayment Amount for Loan Group II (exclusive of the portion attributable to the Class II-P Principal Distribution Amount), and (iii) the Group II Subordinate Liquidation Amount over (B) over the sum of (x) the amounts required to be distributed to the Class II-P Certificates pursuant to Section 4.01(II)(A)(b)(i) on that Distribution Date.
Examples of Group II Subordinate Principal Distribution Amount in a sentence
If any amounts remain in the Group II Reserve Fund after the Class Principal Balances of all of the Group II Offered Notes have been reduced to zero, such amounts shall be allocated to the Group II Subordinate Notes in the same priorities that the Group II Subordinate Principal Distribution Amount is distributed to such Classes pursuant to Section 5.01(b)(vi) above.
More Definitions of Group II Subordinate Principal Distribution Amount
Group II Subordinate Principal Distribution Amount herein, until the Class B-2 Principal Balance has been reduced to zero;
Group II Subordinate Principal Distribution Amount. For any Distribution Date, an amount equal to the sum of:
Group II Subordinate Principal Distribution Amount. With respect to any Distribution Date and Pool 3, an amount equal to the sum of: (1) the product of (a) the Group II Subordinate Percentage and (b) the principal portion of each Scheduled Payment on each Mortgage Loan in the related Mortgage Pool or Pools due during the related Due Period; (2) the product of (a) the Group II Subordinate Prepayment Percentage and (b) each of the following amounts: (i) the principal portion of each full and partial principal prepayment made by a borrower on a Mortgage Loan in the related Mortgage Pool or Pools during the related Prepayment Period, (ii) each other unscheduled collection, including Insurance Proceeds, Subsequent Recoveries and Net Liquidation Proceeds (other than with respect to any related Mortgage Loan that was finally liquidated during the related Prepayment Period), representing or allocable to recoveries of principal of related Mortgage Loans received during the related Prepayment Period and (iii) the principal portion of all proceeds of the purchase (or, in the case of a permitted substitution, amounts representing a principal adjustment) of any Mortgage Loan in the related Mortgage Pool or Pools actually received by the Trustee with respect to the related Prepayment Period; (3) with respect to unscheduled recoveries allocable to principal of any Mortgage Loan in the related Mortgage Pool or Pools that was finally liquidated during the related Prepayment Period, the related Net Liquidation Proceeds allocable to principal, to the extent not distributed pursuant to the definition of Group II Senior Principal Distribution Amount; and (4) any amounts described in clauses (1) through (3) for any previous Distribution Date that remain unpaid.
Group II Subordinate Principal Distribution Amount. For any Distribution Date, the sum of (i) the Group II Subordinate Percentage of the Principal Payment Amount for Loan Group II, (ii) the Group II Subordinate Principal Prepayments Distribution Amount and (iii) the Group II Subordinate Liquidation Amount. For any Distribution Date, the Group II Subordinate Principal Distribution Amount shall be allocated pro rata, by Class Principal Balance, among the Classes of Group II-B Certificates and paid in the order of distribution to such Classes pursuant to clause (b) of the definition of "Distribution Amount" except as otherwise stated in such definition. Notwithstanding the foregoing, for any Distribution Date prior to distributions on such date, if the Subordination Level for any Class or Classes of Group II-B Certificates is less than such Subordination Level as of the Closing Date, then the pro rata portion of the Group II Subordinate Principal Prepayments Distribution Amount, if any, otherwise allocable to such Class or Classes of Group II-B Certificates shall be allocated to the more senior Classes of Group II-B Certificates, pro rata according to the Class Principal Balances of such Classes. For purposes of this definition and the definition of "Subordination Level," the relative seniority, from highest to lowest, of the Group
Group II Subordinate Principal Distribution Amount. With respect to Group II, the aggregate amount payable as principal on the Group II Subordinate Certificates from Group II Available Funds for each Subgroup in Group II in accordance with Section 4.01(b), after application of Group II Available Funds for each such Subgroup to make payments on the Senior Certificates in such Subgroup as described in Section 4.01(b) (including amounts required to be paid as described in Section 4.01(b)) and giving effect to distributions of Accrued Certificate Interest to the Group II Subordinate Certificates in accordance with the priorities set forth in Section 4.01(b).
Group II Subordinate Principal Distribution Amount. For any Payment Date will be the sum of the following amounts for each Loan Subgroup in Loan Group II for that Payment Date:
Group II Subordinate Principal Distribution Amount. With respect to any Distribution Date and the Group II Subordinate Certificates, will equal the excess of (A) the sum of (i) the related Subordinate Percentage of the Principal Payment Amount for Loan Group II (exclusive of the portion attributable to the Class II-P Principal Distribution Amount), (ii) the related Subordinate Prepayment Percentage of the Principal Prepayment Amount for Loan Group II (exclusive of the portion attributable to the Class II-P Principal Distribution Amount), and (iii) the Subordinate Liquidation Amount for Loan Group II over (B) the amounts required to be distributed to the Class II-P Certificates pursuant to Section 4.01(A)(d)(i) on that Distribution Date. Indirect Participants: Entities, such as banks, brokers, dealers and trust companies, that clear through or maintain a custodial relationship with a Participant, either directly or indirectly.