M-2 Principal Distribution Amount definition
M-2 Principal Distribution Amount. The excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the distribution of the Senior Principal Distribution Amount on such Distribution Date) and (ii) the aggregate Certificate Principal Balance of the Class M-1 Certificates and the Class M-2 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 72.20% and (ii) the Stated Principal Balance of the 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 (B) the aggregate Stated Principal Balance of the 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) minus the related Overcollateralization Floor.
M-2 Principal Distribution Amount. With respect to the Class 1-M-2 Certificates and any Distribution Date (i) prior to the Stepdown Date or on or after the Stepdown Date if a Trigger Event is in effect for that Distribution Date, the Group 1 Principal Distribution Amount for that Distribution Date remaining after distribution of the Class 1-A Principal Distribution Amount and the Class 1-M-1 Principal Distribution Amount or (ii) on or after the Stepdown Date if a Trigger Event is not in effect for that Distribution Date, the lesser of: o the Group 1 Principal Distribution Amount for that Distribution Date remaining after distribution of the Class 1-A Principal Distribution Amount and the Class 1-M-1 Principal Distribution Amount; and o the excess (if any) of (A) the sum of (1) the Class Principal Balance of the Class 1-M-2 Certificates immediately prior to that Distribution Date and (2) the aggregate Class Principal Balance of the Class 1-A and Class 1-M-1 Certificates (after taking into account the payment of the Class 1-A and Class 1-M-1 Principal Distribution Amounts for such Distribution Date) over (B) the lesser of (i) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans as of the last day of the related Due Period multiplied by 90.00% and (ii) the amount, if any, by which (x) the aggregate Stated Principal Balance of the Group 1 Mortgage Loans as of the last day of the related Due Period exceeds (y) $2,125,889.
M-2 Principal Distribution Amount. With respect to 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 Amounts of the Senior Certificates and the Class M-1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M-2 Certificates immediately prior to such Distribution Date exceeds (y) the ▇-▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇.
More Definitions of M-2 Principal Distribution Amount
M-2 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 I-A-1 Certificates (after taking into account the payment of the Class I-A-1 Principal Distribution Amount on that Distribution Date), (B) the Class Certificate Balance of the Class I-M-1 Certificates (after taking into account the payment of the Class I-M-1 Principal Distribution Amount on that Distribution Date), and (C) the Class Certificate Balance of the Class I-M-2 Certificates immediately prior to that Distribution Date, over (y) the lesser of (A) the product of (i) 67.60% and (ii) the aggregate Stated Principal Balance of the Group I Mortgage Loans for that Distribution Date, and (B) the excess, if any, of the aggregate Stated Principal Balance of the Group I Mortgage Loans for that Distribution Date over the Group I Overcollateralization Floor. Class I-M-3 Certificates: All Certificates bearing the class designation of “Class I-M-3 Certificates” and evidencing (i) a REMIC Regular Interest in REMIC I-D, (ii) the right to receive the related Basis Risk Carry Forward Amounts and (iii) the obligation to pay any Class IO Distribution Amount.
M-2 Principal Distribution Amount. With respect to any Distribution Date (i) prior to the Stepdown Date or on or after the Stepdown Date if a Trigger Event is in effect for that Distribution Date, the remaining Principal Distribution Amount for that Distribution Date after distribution of the Class A Principal Distribution Amount and Class M-1 Principal Distribution Amount or (ii) on or after the Stepdown Date if a Trigger Event is not in effect for that Distribution Date, the lesser of:
M-2 Principal Distribution Amount. With respect to each Mortgage Pool and --------------------------------- any Distribution Date on or after the applicable Stepdown Date and as long as a Trigger Event has not occurred with respect to such Mortgage Pool and such Distribution Date, the amount, if any, by which (x) the sum of (i) the Component Principal Amounts of the Components of the Senior Certificates and the Class M-1 Certificates in the related Component Group after giving effect to distributions on such Distribution Date and (ii) the Component Principal Amount of the related Component of the Class M-2 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 90.91% and (ii) the Pool Balance for such Mortgage Pool as of the last day of the related Collection Period and (B) the amount, if any, by which (i) the Pool Balance for such Mortgage Pool as of the last day of the related Collection Period exceeds (ii) $4,862,928. Maintenance: With respect to any Cooperative Unit, the rent or fee paid ----------- by the Mortgagor to the Cooperative Corporation pursuant to the Proprietary Lease.
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 1 Senior Certificates (after taking into account the payment of the Pool 1 Senior Principal Distribution Amount on such Distribution Date), (ii) the Class Principal Amount of the Class 1-M-1 Certificates (after taking into account the payment of the Class 1-M-1 Principal Distribution Amount on such Distribution Date) and (iii) the Class Principal Amount of the Class 1-M-2 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 96.00% 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. Class 2-A-7 Priority Amount Percentage: With respect to any Distribution Date, the product of (a) the Class 2-A-7 Priority Percentage and (b) the Class 2-A-7 Shift Percentage, in each case for such Distribution Date. Class 2-A-7 Priority Percentage: With respect to any Distribution Date, the aggregate Class Principal Amount of the Class 2-A-7 Certificates divided by the aggregate Class Principal Amount of the Class 2-A-2, Class 2-A-3, Class 2-A-4, Class 2-A-5, Class 2-A-6 and Class 2-A-7 Certificates, in each case immediately prior to any distributions on that Distribution Date. Class 2-A-7 Shift Percentage: With respect to any Distribution Date, the percentage indicated below: November 2006 through October 2009 0% November 2009 through October 2011 45% November 2011 through October 2012 80% November 2012 through October 2013 100% November 2013 and thereafter 300% Class 2-B-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), (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), (iii) the Class Principal Amount of the Class 2-M-2 Certificates (after taking into account the payment of the Class 2-M-2 Principal Distribution Amount on such Distribution Date), and (iv) the Class Principal Amount of the Class 2-B-1 Certificates immediately prior to such Distribution Date over (y...