Distributions from the Certificate Account Sample Clauses
Distributions from the Certificate Account. (a) On each Distribution Date the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account the Total Distribution Amount (to the extent such amount is on deposit in the Certificate Account) and shall allocate such amount to the interests issued in respect of each REMIC created pursuant to this Agreement and shall distribute such amount as specified in this Section. All allocations and distributions made among and with respect to Pool 1, Pool 2, Pool 3 and Pool 4 in this Section shall be made concurrently.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for Pool 1 for such date in the following order of priority:
(i) pro rata, to each Class of Group 1 Senior Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon;
(ii) pro rata, to each Class of Group 2, Group 3 and Group 4 Senior Certificates, Current Interest (taking into account distributions pursuant to subsections 5.02(c)(i), 5.02(d)(i) and 5.02(e)(i) below, as applicable) for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date; provided, however, that any shortfall in Current Interest shall be allocated among such Classes in proportion to the amount of Current Interest that would otherwise be distributable thereon;
(iii) pro rata, to each Class of Subordinate Senior Certificates, Current Interest for each such Class and such Distribution Date and Carryforward Interest for each such Class and such Distribution Date;
(iv) sequentially, to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6 and Class M7 Certificates, in that order (the “Class M Priority”), Current Interest for each such Class and such Distribution Date and any Carryforward Interest for each such Class and such Distribution Date;
(v) to the Credit Risk Manager, the product of (a) the Credit Risk Manager’s Fee and (b) the Pool Percentage for Pool 1 for such Distribution Date;
(vi) to the Trustee, any amounts reimbursable pursuant to Section 4.04(b)(i) and not previously reimbursed to the Trustee; and
(vii) for application as part of Monthly Excess Cashflow for such Distribution Date, as provide...
Distributions from the Certificate Account. (a) On each Distribution Date the Trustee shall withdraw from the Certificate Account the Total Distribution Amount for such date, shall allocate such amount to the interests issued in respect of the Trust Fund and shall distribute such amount as specified in this Section.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for such date in the following order of priority:
(i) to the Senior Certificates, pro rata, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date;
(ii) to the Class M-1 Certificates, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date;
(iii) to the Class M-2 Certificates, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date;
(iv) to the Class M-3 Certificates, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date;
(v) to the Class B-1 Certificates, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date;
(vi) to the Class B-2 Certificates, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date;
(vii) to the Class B-3 Certificates, Accrued Certificate Interest for such Class and such Distribution Date, plus any unpaid Accrued Certificate Interest remaining unpaid from any prior Distribution Date; and
(viii) any remaining Interest Remittance Amount to the Class R Certificates.
(c) On each Distribution Date, the Trustee shall distribute the Principal Remittance Amount for such date as follows:
(i) to the holders of the Class R Certificates and Class A Certificates, in that order, to the extent of the Principal Remittance Amount, the Senior Principal Distribution Amount, in reduction of the Current Principal Amounts thereof, until the Current Principal Amounts thereof have been reduced to zero;
(ii) to the holders of the Class M-1 Certificates, to the extent of the portion of the Principal Remittance Amount remaining after the distributi...
Distributions from the Certificate Account. (a) Distributions from the Certificate Account to the Group I Certificates will be made in accordance with the provisions set forth in Annex 5A.02 attached hereto.
(b) Distributions from the Certificate Account to the Group II Certificates will be made in accordance with the provisions set forth in Annex 5B.02 attached hereto.
Distributions from the Certificate Account. (a) On each Distribution Date, the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account the Total Distribution Amount (excluding all Prepayment Premiums) and amounts that are available for payment to the related Swap Counterparty and shall allocate such amount to the interests issued in respect of each REMIC and shall distribute such amount as specified in this Section.
Distributions from the Certificate Account. (a) Interest and principal (as applicable) on the Group I Certificates will be distributed monthly on each Distribution Date, commencing in April 2007, in an amount equal to the Group I Available Funds on deposit in the Distribution Account for such Distribution Date. On each Distribution Date, the Group I Available Funds on deposit in the Distribution Account shall be distributed as follows:
(i) on each Distribution Date, the Group I Available Funds for Loan Group I-1 will be distributed to the Group I-1 Senior Certificates as follows: first, to the Class I-1A-1, Class I-1A-2 and Class I-1X Certificates, on a pro rata basis, the Group I Accrued Interest on such Classes for such Distribution Date. As described below, accrued interest on the Class I-1A-1, Class I-1A-2 and Class I-1X Certificates is subject to reduction in the event of certain Group I Net Interest Shortfalls allocable thereto; second, to the Class I-1A-1, Class I-1A-2 and Class I-1X Certificates, on a pro rata basis, any Group I Accrued Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Group I Available Funds for Loan Group I-1; and third, to the Class I-1A-1 Certificates and Class I-1A-2 Certificates, on a pro rata basis, in reduction of the Class Principal Amount thereof, the Group I Senior Optimal Principal Amount for the Group I-1 Senior Certificates for such Distribution Date to the extent of remaining Group I Available Funds for Loan Group I-1, until the Class Principal Amounts of such Classes have been reduced to zero.
(ii) on each Distribution Date, the Group I Available Funds for Loan Group I-2 will be distributed to the Group I-2 Senior Certificates as follows: first, to the Class I-2A-1, Class I-2A-2 and Class I-2X Certificates, on a pro rata basis, the Group I Accrued Interest on such Classes for such Distribution Date. As described below, accrued interest on the Class I-2A-1, Class I-2A-2 and Class I-2X Certificates is subject to reduction in the event of certain Group I Net Interest Shortfalls allocable thereto; second, to the Class I-2A-1, Class I-2A-2 and Class I-2X Certificates, on a pro rata basis, any Group I Accrued Interest thereon remaining undistributed from previous Distribution Dates, to the extent of remaining Group I Available Funds for Loan Group I-2; and third, to the Class I-2A-1 Certificates and Class I-2A-2 Certificates, on a pro rata basis, in reduction of the Class Principal Amount thereof, the Group I Seni...
Distributions from the Certificate Account. (a) On each Distribution Date the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account the Total Distribution Amount and shall allocate such amount to the interests issued in respect of REMIC 1, REMIC 2 and REMIC 3 and shall distribute such amount as specified in this Section.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for such date in the following order of priority based on the report of the Master Servicer:
(i) concurrently, to the Class A Certificates and the Class A-IO Certificates, Current Interest for each such Class and such Distribution Date and any Carryforward Interest for such Class and such Distribution Date;
(ii) to the Class M1 Certificates, Current Interest and any Carryforward Interest for such Class and such Distribution Date;
(iii) to the Class M2 Certificates, Current Interest and any Carryforward Interests for such Class and such Distribution Date;
(iv) to the Class B Certificates, Current Interest and any Carryforward Interests for such Class and such Distribution Date;
(v) to the Credit Risk Manager, the Credit Risk Manager's Fee for such Distribution Date;
Distributions from the Certificate Account. (a) On each Distribution Date, the Trustee shall calculate each of the Interest Remittance Amount and the Principal Remittance Amount, in each case for such date. All amounts on deposit in the Certificate Account on any such Distribution Date (after giving effect to Section 5.01(a)) shall be distributed as provided in this Section.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount concurrently, on a pro rata basis, to the Senior Certificates, Current Interest and any Carryforward Interest for such Classes for such Distribution Date (any shortfall in Current Interest and Carryforward Interest to be allocated among such classes in proportion to the amount of Current Interest and Carryforward Interest that would otherwise be distributable thereon).
(c) On each Distribution Date, the Trustee shall distribute the Principal Remittance Amount for such date in the following order of priority:
(i) to the Class A1 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(ii) to the Class A2 Certificates, until the Class Principal Amount of such Class has been reduced to zero; and
(iii) any remaining amounts to the Class R Certificate.
Distributions from the Certificate Account. (a) On each Distribution Date the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account the Total Distribution Amount for such date, shall allocate such amount to the interests issued in respect of REMIC 1, REMIC 2, and REMIC 3, and shall distribute such amount as specified in this Section.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for such date in the following order of priority:
(i) to the Trustee, the Trustee Fee for such Distribution Date;
Distributions from the Certificate Account. (a) On each Distribution Date the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account the Total Distribution Amount for such date, shall allocate such amount to the interests issued in respect of REMIC 1, REMIC 2, and REMIC 3, and shall distribute such amount as specified in this Section.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount for such date in the following order of priority:
(i) to the Trustee, the Trustee Fee for such Distribution Date;
Distributions from the Certificate Account. (a) On each Distribution Date, the Trustee shall calculate each of the Interest Remittance Amount and the Principal Remittance Amount, in each case for such date. All amounts on deposit in the Certificate Account on any such Distribution Date (after giving effect to Section 5.01(a)) shall be distributed as provided in this Section.
(b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount concurrently, on a pro rata basis, to the Senior Certificates, Current Interest and any Carryforward Interest for such Classes for such Distribution Date (any shortfall in Current Interest and Carryforward Interest to be allocated among such classes in proportion to the amount of Current Interest and Carryforward Interest that would otherwise be distributable thereon).
(c) On each Distribution Date, the Trustee shall distribute the Principal Remittance Amount for such date in the following order of priority:
(i) to the Class A1 Certificates, until the Class Principal Amount of such Class has been reduced to zero;
(ii) to the Class A2 Certificates, until the Class Principal Amount of such Class has been reduced to zero; and
(iii) any remaining amounts to the Class R Certificate.