Application of Class P Prepayment Charges. On each Distribution Date prior to the date on which the Class Principal Balance of the Class 1-P Certificates has been reduced to zero, the Trust Administrator shall withdraw from the Distribution Account and distribute to the Class 1-P Certificates any Class P Prepayment Charges related to the Group 1 Loans. On each Distribution Date prior to the date on which the Class Principal Balance of the Class 2-P Certificates has been reduced to zero, the Trust Administrator shall withdraw from the Distribution Account and distribute to the Class 2-P Certificates any Class P Prepayment Charges related to the Group 2 Loans. On each Distribution Date prior to the date on which the Class Principal Balance of the Class 3-P Certificates has been reduced to zero, the Trust Administrator shall withdraw from the Distribution Account and distribute to the Class 3-P Certificates any Class P Prepayment Charges related to the Group 3 Loans. On each Distribution Date prior to the date on which the Class Principal Balance of the Class 4-P Certificates has been reduced to zero, the Trust Administrator shall withdraw from the Distribution Account and distribute to the Class 4-P Certificates any Class P Prepayment Charges related to the Group 4 Loans.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2)