M-1 Principal Distribution Amount. With respect to any Distribution Date, the excess of (x) the sum of (i) the aggregate Class Principal Amount of the Pool 1 Senior Certificates (after taking into account the payment of the Pool 1 Senior Principal Distribution Amount on such Distribution Date) and (ii) the Class Principal Amount of the Class 1-M-1 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 92.50% and (ii) the Pool 1 Aggregate Collateral Balance as of the last day of the related Due Period and (B) the Pool 1 Aggregate Collateral Balance as of the last day of the related Due Period minus the Pool 1 Overcollateralization Floor.
M-1 Principal Distribution Amount. With respect to any Distribution Date (i) prior to the Group I Stepdown Date or on or after the Group I Stepdown Date if a Group I Trigger Event is in effect for that Distribution Date, the remaining Group I Principal Distribution Amount for that Distribution Date after distributions to the Supplemental Interest Trust pursuant to Section 4.1(b)(i), distribution of the Group I Senior Principal Distribution Amount or (ii) on or after the Group I Stepdown Date if a Group I Trigger Event is not in effect for that Distribution Date, is an amount equal to the excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Group I Senior Certificates after taking into account the payment of the Group I Senior Principal Distribution Amount on the Distribution Date and (ii) the Certificate Principal Balance of the Class I-M-1 Certificates immediately prior to the Distribution Date over (y) the lesser of (A) the product of (i) 88.00% and (ii) the aggregate principal balance of the Group I Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (B) the excess, if any, of the aggregate principal balance of the Group I Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) over the product of (i) 0.50% and (ii) the aggregate principal balance of the Group I Loans as of the Cut-Off Date.
M-1 Principal Distribution Amount. With respect to any Distribution Date, the excess of (x) the sum of (i) the aggregate Class Principal Amount of the Pool 2 Senior Certificates (after taking into account the payment of the Pool 2 Senior Principal Distribution Amount on such Distribution Date) and (ii) the Class Principal Amount of the Class 2-M-1 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 93.60% and (ii) the Pool 2 Aggregate Collateral Balance as of the last day of the related Due Period and (B) the Pool 2 Aggregate Collateral Balance as of the last day of the related Due Period minus the Pool 2 Overcollateralization Floor. Class 2-M-2 Principal Distribution Amount: With respect to any Distribution Date, the excess of (x) the sum of (i) the aggregate Class Principal Amount of the Pool 2 Senior Certificates (after taking into account the payment of the Pool 2 Senior Principal Distribution Amount on such Distribution Date), (ii) the Class Principal Amount of the Class 2-M-1 Certificates (after taking into account the payment of the Class 2-M-1 Principal Distribution Amount on such Distribution Date) and (iii) the Class Principal Amount of the Class 2-M-2 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 96.30% and (ii) the Pool 2 Aggregate Collateral Balance as of the last day of the related Due Period and (B) the Pool 2 Aggregate Collateral Balance as of the last day of the related Due Period minus the Pool 2 Overcollateralization Floor. Class A-R Certificate: The Class A-R Certificate executed by the Securities Administrator on behalf of the Trustee, and authenticated and delivered by the Authenticating Agent, substantially in the form annexed hereto as Exhibit A, and evidencing the ownership of the residual interest in the Upper-Tier REMIC formed hereby.
Examples of M-1 Principal Distribution Amount in a sentence
To the Class M-1 Certificates, the Class M-1 Principal Distribution Amount for the Distribution Date, excluding any Subordination Increase Amount included in that amount, until the Certificate Principal Balance thereof is reduced to zero.
To the Class M-1 Certificates, the Class M-1 Principal Distribution Amount for the applicable Distribution Date, excluding any Subordination Increase Amount included in that amount, until its Certificate Principal Balance is reduced to zero.
To the extent of any Principal Distribution Amount remaining after distribution of the Senior Principal Distribution Amount to the holders of the Senior Certificates (other than the Class A-IO Certificates) on such Distribution Date, to the Class M-1 Certificates, in an amount equal to the Class M-1 Principal Distribution Amount for such Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero.
To the Class M-1 Certificates, the Class M-1 Principal Distribution Amount for the Distribution Date, excluding any Subordination Increase Amount or OC Holiday Realized Loss Amount included in that amount, until the Certificate Principal Balance thereof is reduced to zero.
To the extent of any Principal Distribution Amount remaining after distribution of the Senior Principal Distribution Amount to the Holders of the Senior Certificates on such Distribution Date, to the Class M-1 Certificates, in an amount equal to the Class M-1 Principal Distribution Amount for such Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero.
To the extent of any Principal Distribution Amount remaining after distribution of the Senior Principal Distribution Amount to the Holders of the Senior Certificates (other than the Class A-IO Certificates) on such Distribution Date, to the Class M-1 Certificates, in an amount equal to the Class M-1 Principal Distribution Amount for such Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero.
The Class M-1 Principal Distribution Amount shall be distributed to the Lower-Tier M-1 Interest, the Class M-2 Principal Distribution Amount shall be distributed to the Lower-Tier M-2 Interest and the Class B Principal Distribution Amount shall be distributed to the Lower-Tier B Interest.
More Definitions of M-1 Principal Distribution Amount
M-1 Principal Distribution Amount. For any Distribution Date, an amount equal, on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, to the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Group I Senior Certificates, after giving effect to distributions on such Distribution Date, and (ii) the Class Principal Amount of the Class M-1 Certificates immediately prior to such Distribution Date exceeds (y) the M-1 Target Amount.
M-1 Principal Distribution Amount. With respect to any Distribution Date, an amount equal to the excess of (x) the sum of (A) the aggregate Class Certificate Balance of the Class II-A-1 Certificates (after taking into account the payment of the Class II-A-1 Principal Distribution Amount on that Distribution Date) and (B) the Class Certificate Balance of the Class II-M-1 Certificates immediately prior to that Distribution Date, over (y) the lesser of (A) the product of (i) 46.40% and (ii) the aggregate Stated Principal Balance of the Group II Mortgage Loans for such Distribution Date, and (B) the excess, if any, of the aggregate Stated Principal Balance of the Group II Mortgage Loans for that Distribution Date over the Group II Overcollateralization Floor. Class II-M-2 Certificates: All Certificates bearing the class designation of “Class II-M-2” and evidencing (i) a REMIC Regular Interest in REMIC II-B and (ii) the right to receive the related Basis Risk Carry Forward Amounts.
M-1 Principal Distribution Amount. For any Distribution Date, an amount equal to the lesser of (x) the remaining Principal Distribution Amount for such Distribution Date after distribution of the Class II- A Principal Distribution Amount and (y) the excess, if any, of (a) the sum of (1) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the distribution of the Class II-A Principal Distribution Amount on such Distribution Date) and (2) the Certificate Principal Balance of the Class II-M-1 Certificates immediately prior to such Distribution Date, over (b) the lesser of (1) the product of (x) 56.50% and (y) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the related Due Period), and (2) the aggregate Stated Principal Balance of the Group II Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period, and after reduction for Realized Losses incurred during the related Due Period) minus $590,572.
M-1 Principal Distribution Amount. As of any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect, the excess of (x) the sum of (i) the aggregate Class Certificate Balance of the Class 5-A Certificates (after taking into account the payment of the Group 5 Senior Principal Distribution Amount on such Distribution Date) and (ii) the Class Certificate Balance of the Class 5-M-1 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 88.20% and (ii) the aggregate Stated Principal Balance of the Group 5 Mortgage Loans as of the Due Date in the month of such Distribution Date and (B) the amount by which the aggregate Stated Principal Balance of the Group 5 Mortgage Loans as of the Due Date in the month of such Distribution Date exceeds the product of (i) 0.50% and (ii) the Cut-off Date Pool Principal Balance for Loan Group 5.
M-1 Principal Distribution Amount. For any Distribution Date, the excess of (x) the sum of (A) the aggregate Class Principal Balance of the Group 3-A Certificates (after taking into account any payment of the Group 3-A Principal Distribution Amount on such Distribution Date) and (B) the Class 3-M-1 Principal Balance immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 87.2% and (ii) the aggregate Stated Principal Balance of the Group 3 Loans on such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Group 3 Loans on such Distribution Date over 0.35% of the aggregate principal balance of the Group 3 Loans as of the Cut-Off Date. Class 3-M-1-L Regular Interest: The uncertificated undivided beneficial interest in REMIC IV which constitutes a REMIC IV Regular Interest and is entitled to distributions as set forth herein. Class 3-M-2 Certificates: The Certificates designated as “Class 3-M-2” on the face thereof in substantially the form attached hereto as Exhibit A. Class 3-M-2 Principal Distribution Amount: For any Distribution Date, the excess of (x) the sum of (A) the aggregate Class Principal Balance of the Group 3-A and Class 3-M-1 Certificates (after taking into account any payment of the Group 3-A and Class 3-M-1 Principal Distribution Amounts on such Distribution Date) and (B) the Class 3-M-2 Principal Balance immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 91.6% and (ii) the aggregate Stated Principal Balance of the Group 3 Loans on such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Group 3 Loans on such Distribution Date over 0.35% of the aggregate principal balance of the Group 3 Loans as of the Cut-Off Date. Class 3-M-2-L Regular Interest: The uncertificated undivided beneficial interest in REMIC IV which constitutes a REMIC IV Regular Interest and is entitled to distributions as set forth herein. Class 3-M-3 Certificates: The Certificates designated as “Class 3-M-3” on the face thereof in substantially the form attached hereto as Exhibit A.