Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than the Group V Certificates: (i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and (ii) In accordance with the priority set forth in Section 8.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a). (b) The amounts described in Section 8.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero. (c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest. (d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon. (e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.05.
Appears in 2 contracts
Sources: Pooling Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8), Pooling Agreement (Bear Stearns Structured Products Inc. Trust 2007-R8)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests U, V, W, X, Y and Z, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the Corresponding Certificated Interests, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc), Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds Distribution Amount (less the Trustee's Fees for each Certificate Group other than such Distribution Date) reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.01(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.07(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1, Class A-2, Class A-4, Class ▇-▇, ▇▇▇▇▇ A-7, Class M-1, Class M-2, ▇▇▇▇▇ ▇-▇, ▇▇▇ss B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 3.05(a4.01(c), as allocated thereto.
(b) The amounts amount described in Section 8.04(a)(ii4.07(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest T, (ii) Uncertificated REMIC I Regular Interest U, (iii) Uncertificated REMIC I Regular Interest V, (iv) Uncertificated REMIC I Regular Interest W, (v) Uncertificated REMIC I Regular Interest X and (vi) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-4 Certificates, (iv) Class A- 5 Certificates, (v) Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates, and (vi) Class A-7 Certificates, respectively, under Section 3.05(a4.01(c) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof (d) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.07(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.01(c).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest T Distribution AmountsAmount, Uncertificated REMIC I Regular Interest U Distribution Amount, Uncertificated REMIC I Regular Interest V Distribution Amount, Uncertificated REMIC I Regular Interest W Distribution Amount, Uncertificated REMIC I Regular Interest X Distribution Amount, Uncertificated REMIC I Regular Interest Y Distribution Amount and Uncertificated REMIC I IO Regular Interest Distribution Amount, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) 4.04 shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing in the same amounts and priorities as allocated to the Certificates in the corresponding numercial designation orin 4.07(b) above.
(e) On each Distribution Date the Trustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Sections 4.01(a) and (b), to the Class VI-AE-3 CertificatesA-1, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-Class A-2, pro rata in accordance with Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class M-1, Class M-2, ▇▇▇▇▇ ▇-▇, ▇▇▇ss B-1, Class B-2, Class B-3 and Class R-II Certificates the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestamounts distributable thereon, in from the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, Distribution Amounts deemed to Uncertificated have been received by REMIC II from REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestunder this Section 4.07.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.07, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp), Pooling and Servicing Agreement (Impac Secured Assets Corp)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, (iii) Uncertificated REMIC I Regular Interest Y, (iv) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(ato the (i) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 A-2 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c (ii) Class A-1 Certificates and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the A-4A Component (iii) Class VI-AE-6 Certificates A-4B Component and the Class VIA-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-AE-8 II Certificates, to Uncertificated REMIC I Regular Interests VI(iv) Class A-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 P Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1brespectively, pro rata in accordance with the Uncertificated Principal Balances thereof under Section 4.02(b) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, (iii) Uncertificated REMIC I Regular Interest Y, and (iv) Uncertificated REMIC I Regular Interest Z, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-4, Class A-5, Class A-6, Class A-7, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and (iv) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds Distribution Amount (less the Trustee's Fees for each Certificate Group other than such Distribution Date) reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.01(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.07(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 3.05(a4.01(c), as allocated thereto.
(b) The amounts amount described in Section 8.04(a)(ii4.07(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest N, (ii) Uncertificated REMIC I Regular Interest O, (iii) Uncertificated REMIC I Regular Interest P, (iv) Uncertificated REMIC I Regular Interest Q, (v) Uncertificated REMIC I Regular Interest S, (vi) Uncertificated REMIC I Regular Interest T, (vii) Uncertificated REMIC I Regular Interest U, (viii) Uncertificated REMIC I Regular Interest W, (ix) Uncertificated REMIC I Regular Interest X and (x) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-3 Certificates, (iv) Class A- 7 Certificates, (v) Class A-8 Certificates, (vi) Class R-I Certificates, (vii) Class M-1 Certificates, (viii) Class M-2 Certificates, (ix) Class M-3 Certificates, (x) Class B-1, Class B-2 and Class B-3 Certificates, respectively, under Section 3.05(a4.01(c) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof (d) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.07(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.01(c).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest N Distribution AmountsAmount, Uncertificated REMIC I Regular Interest P Distribution Amount, Uncertificated REMIC I Regular Interest Q Distribution Amount, Uncertificated REMIC I Regular Interest S Distribution Amount, Uncertificated REMIC I Regular Interest T Distribution Amount, Uncertificated REMIC I Regular Interest U Distribution Amount, Uncertificated REMIC I Regular Interest X Distribution Amount, Uncertificated REMIC I Regular Interest Y Distribution Amount and Uncertificated REMIC I IO Regular Interest Distribution Amount, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) 4.04 shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing in the same amounts and priorities as allocated to the Certificates in the corresponding numercial designation orin 4.07(b) above.
(e) On each Distribution Date the Trustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Sections 4.01(a) and (b), to the Class VI-AE-3 CertificatesA-1, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-Class A-2, pro rata in accordance with Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-1, Class M-1-X, Class M-2, Class M-2-X, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestamounts distributable thereon, in from the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, Distribution Amounts deemed to Uncertificated have been received by REMIC II from REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestunder this Section 4.07.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.07, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp Mortgage Pass THR Cer Ser 1999-2)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M- 3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest X, (ii) Uncertificated REMIC I Regular Interest Y, and (iii) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-4, Class A-5, ▇▇▇▇▇ ▇-▇, ▇lass A-7, Class A-8, Class A-9, Class A-10, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (ii) Class A-2, and (iii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class II-A-4 Certificates, Class II-A-5 Certificates, Class I-A-P Certificates, Class II-A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B- 1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest U, (ii) Uncertificated REMIC I Regular Interest V, (iii) Uncertificated REMIC I Regular Interest W, (iv) Uncertificated REMIC I Regular Interest X, (v) Uncertificated REMIC I Regular Interest Y and (vi) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(ato the (i) to each Class of Certificates bearing the same designation orI-A-1, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VII-A-2, pro rata in accordance with the Uncertificated Principal Balances thereofClass I-A-3, Class I-A-4 and Class I-A-5 Certificates, (ii) Class II-A-1, Class II-A-2, Class II-A-3, Class II-A-4, Class II-A-5 Certificates, (iii) Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, in each case to the case of extent derived from the Group I Loans, (iv) Class VI-AE-4 M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, in each case to Uncertificated REMIC I Regular Interest VIthe extent derived from the Group II Loans, (v) Class I-A-1a, in the case of the Class VIA-AE-6 P Certificates and the (vi) Class VIII-AE-8 A-P Certificates, to Uncertificated REMIC I Regular Interests VI-A-1arespectively, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof under Section 4.02(b) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of the Class VI-AE-4 Certificates priority set forth in Sections 4.02(a) and the Class VI-AE-5 Certificates(b), to the REMIC II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 10.04. The amount deemed distributable hereunder with respect to the Class I-A-1a, in the case A-V Certificates shall equal 100% of the amounts payable with respect to the Uncertificated Class VII-AE-6 Certificates, A-V REMIC Regular Interests. The amount deemed distributable hereunder with respect to the Class VIII-AE-8 A-V Certificates and shall equal 100% of the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIII-AE-7 Certificates, the Class VIA-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests for such Distribution Date, plus any Uncertificated REMIC I or REMIC II Accrued Interest thereon remaining unpaid from any previous Distribution Date; andDate in the same manner as it is distributed to the Corresponding Certificate.
(iib) In accordance with On each Distribution Date, the priority set forth in Section 8.04(b)Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests, as principal on the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests, an amount equal to the sum of the amounts distributed as principal on the Certificates (other than the Class R Certificates) under Sections 4.02(a)(ii), (iv), (vi), (viii), (x), (xii), (xiv) and (xv), in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The the same manner as such amounts described in Section 8.04(a)(ii) shall be deemed are distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Corresponding Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated amounts to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated distributed to the Uncertificated REMIC I Regular Interests bearing and the same designation orUncertificated REMIC II Regular Interests, in the case of the Class VI-AE-3 Certificates, Realized Losses allocated under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, REMIC II Regular Interests for the related Distribution Date in the case of same manner as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Corresponding Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest V, (ii) Uncertificated REMIC I Regular Interest W, (iii) Uncertificated REMIC I Regular Interest X, (iv) Uncertificated REMIC I Regular Interest Y, and (v) Uncertificated REMIC I Regular Interest Z, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-2 Certificates, (ii) Class A-10 Certificates, (iii) Class A-3 Certificates, (iv) Class A-1, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and (v) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B- 1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest U, (ii) Uncertificated REMIC I Regular Interest V, (iii) Uncertificated REMIC I Regular Interest W, (iv)Uncertificated REMIC I Regular Interest X, (v)Uncertificated REMIC I Regular Interest Y and (vi) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-2, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-15, Class A-16, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (ii) Class A-3 Certificates, (iii) Class A-9 and Class A-12 Certificates, (iv) Class A-10 Certificates, (v) Class A-13 Certificates and (vi) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-7A Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B- 1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, and (iii) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (ii) Class A-7 Certificates and (iii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of the Class VI-AE-4 Certificates priority set forth in Sections 4.02(a) and the Class VI-AE-5 Certificates(b), to the REMIC II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 10.04. The amount deemed distributable hereunder with respect to the Class A-A-1a, in the case V Certificates shall equal 100% of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIA-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority priority, to the extent of the Available Funds for each Certificate Group other than the Group V CertificatesDistribution Amount:
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.08(b), an amount equal to the sum of the amounts distributable in respect of principal distributable on each the Class of Group VI A-1, Class A-2 and Class A-3 Certificates under Section 3.05(a4.01(c).
(b) The amounts described distributable in Section 8.04(a)(ii) respect of principal on the Class A-1 Certificates shall be deemed distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, X. The amounts distributable in the case respect of principal on the Class VI-AE-6 A-2 and Class A-3 Certificates and the Class VI-AE-8 Certificates, shall be deemed distributed to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.Interest Z.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, (i) Realized Losses allocated to a the Class of Group VI S and Class A-1 Certificates under Section 3.05(d4.04 shall be deemed allocated to Uncertificated REMIC Regular Interest X and (ii) Realized Losses allocated to the Class A-2 and Class A-3 Certificates shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing Interest Z corresponding to the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestrelated Mortgage Loans.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp Mort Pass THR Cert Ser 1995 5)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest T, (ii) Uncertificated REMIC I Regular Interest U, (iii) Uncertificated REMIC I Regular Interest V, (iv) Uncertificated REMIC I Regular Interest W, (v) Uncertificated REMIC I Regular Interest X, (vi) Uncertificated REMIC I Regular Interest Y, and (vii) Uncertificated REMIC I Regular Interest Z, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-4 Certificates, (iv) Class A-5 Certificates, (v) Class A-6 Certificates, (vi) Class A-7 Certificates, (vii) Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and (viii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority priority, to the extent of the Available Funds for each Certificate Group other than the Group V CertificatesDistribution Amount:
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.07(b), an amount equal to the sum of the amounts distributable in respect of principal distributable on each the Class of Group VI A-1, Class A-2, Class B-1, Class B-2, Class B-3 and Class P Certificates under Section 3.05(a4.01(b), as allocated thereto pursuant to Section 4.01(b).
(b) The amounts amount described in Section 8.04(a)(ii4.07(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests X with the amount to be deemed distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class such Uncertificated REMIC I Regular Interest based on the portion of Certificates bearing such amount attributable to the same designation or, related Non- Discount Mortgage Loan. The amount described in Section 4.07(a)(ii) shall be deemed distributed to the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c Y and VI-A-2, pro rata in accordance Uncertificated REMIC I Regular Interests Z with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, amount deemed distributed allocated to each such Uncertificated REMIC I Regular Interest VI-A-1abased on the portion of such attributable to the Structured Fraction and the Discount Fraction, in the case respectively, of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zerorelated Discount Mortgage Loan.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, (i) Realized Losses on the Non-Discount Mortgage Loans shall be deemed allocated to Uncertificated REMIC I Regular Interests X; (ii) Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) the Discount Mortgage Loans shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Y and Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, Z pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of their principal balances or in accordance with Uncertificated Accrued Interest thereon if in respect of interestinterest entitlements, in as the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, may be (depending on whether such Realized Loss is allocable to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal interest or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestprincipal).
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.07, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (DLJ Mortgage Acceptance Corp Mort Pass THR Cert Ser 1995 Q7)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii)Uncertificated REMIC I Regular Interest X, (iii) Uncertificated REMIC I Regular Interest Y and (iv) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-2, Class A-4, Class A-5, Class A-6, Class A-9, Class A-10, Class A-11, Class A- 12, Class A-13, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (ii) Class A-3 Certificates, (iii) Class A-7 Certificates and (iv) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I II Regular Interest Distribution Amounts") in Interests and the following order of priority to the extent of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Uncertificated REMIC III Regular Interests, Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests, the Uncertificated REMIC II Regular Interests and the Uncertificated REMIC III Regular Interests for such Distribution Date, plus any Uncertificated REMIC I, REMIC II or REMIC III Accrued Interest thereon remaining unpaid from any previous Distribution Date; andDate in the same manner as it is distributed to the Corresponding Certificate.
(iib) In accordance with On each Distribution Date, the priority set forth in Section 8.04(b)Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the Uncertificated REMIC II Regular Interests and the Uncertificated REMIC III Regular Interests, as principal on the Uncertificated REMIC I Regular Interests, the Uncertificated REMIC II Regular Interests and the Uncertificated REMIC III Regular Interests, an amount equal to the sum of the amounts distributed as principal on the Certificates (other than the Class R Certificates) under Sections 4.02(a)(ii), (iv), (vi), (viii), (x), (xii), (xiv) and (xv), in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The the same manner as such amounts described in Section 8.04(a)(ii) shall be deemed are distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Corresponding Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated amounts to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated distributed to the Uncertificated REMIC I Regular Interests, the Uncertificated REMIC II Regular Interests bearing and the same designation orUncertificated REMIC III Regular Interests, in the case of the Class VI-AE-3 Certificates, Realized Losses allocated under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interests VI-A-1aInterests, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with REMIC II Regular Interests and the Uncertificated Accrued Interest thereon if in respect of interest, REMIC III Regular Interests for the related Distribution Date in the case of same manner as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Corresponding Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests, the Uncertificated REMIC II Regular Interests and the Uncertificated REMIC II III Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be 106 made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 3.04(a):
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b9.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Group VI Certificates (other than the Class R-I Certificates) under Section 3.05(a3.04(a).
(b) The amounts amount described in Section 8.04(a)(ii9.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest X and (ii) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Related Class of Certificates bearing the same designation or, in the case of (other than the Class VIR-AE-3 I Certificates), to Uncertificated REMIC I Regular Interests VI-A-1arespectively, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof under Section 3.04(a) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 9.04(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 3.04(a).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts and Uncertificated REMIC II Regular Interest Distribution Amounts, Realized Losses :
(i) Class A Loss Amounts allocated to a the Class of Group VI A-1 and Class A-5 Certificates under Section 3.05(d) 3.09 shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of X; and
(ii) Class A Loss Amounts allocated to the Class VI-AE-6 CertificatesA-2, the Class VI-AE-8 A-3 and Class A-4 Certificates and the Class VI-AE-9 Certificates, under Section 3.09 shall be deemed allocated to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with Interest Y.
(e) On each Distribution Date the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case priority set forth in Sections 3.04(a), to the Holders of each Class of Certificates (other than the Class VIR-AE-7 I Certificates, ) the Class VI-AE-10 Certificates and amounts distributable thereon from the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 9.04.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.049.01, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.053.04.
Appears in 1 contract
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority Interests and to the extent holder of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Class R-I Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests and Class R-I Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and.
(iib) In accordance Distributions of principal from the Group I Loans shall be deemed to be made to the Uncertificated REMIC I Regular Interest R-II and Class R-I Certificate, pro rata, until the Uncertificated Principal Balance of the Uncertificated REMIC I Regular Interest R-II and the principal balance of the Class R-I Certificate have been reduced to zero.
(c) Distributions of principal from the Loan Groups shall then be deemed to be made to the related Uncertificated REMIC I Regular Interests (other than Uncertificated REMIC I Regular Interest R-II) first, so as to keep the Uncertificated Principal Balance of each such related Uncertificated REMIC I Regular Interest ending with the priority set forth designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in Section 8.04(bthe related Loan Group; second, so as to keep the principal balance of each such related Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Component, the Group II Subordinate Component, the Group III Subordinate Component or the Group IV Subordinate Component, as the case may be (except that if on any Distribution Date the Subordinate Component for any Loan Group is greater than the Subordinate Component for such Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to Uncertificated REMIC I Regular Interests I-A, II-A, III-A and IV-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, any remaining principal shall be distributed to Uncertificated REMIC I Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Component, the Group II Subordinate Component, the Group III Subordinate Component or the Group IV Subordinate Component, as the case may be (except that if on any Distribution Date the Subordinate Component for any Group of Loans is greater than the Subordinate Component for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to Uncertificated REMIC I Regular Interests I-A, II-A, III-A and IV-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to Uncertificated REMIC I Regular Interest ZZZ.
(d) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC II Regular Interests and to the holder of the Class R-II Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC II Regular Interests and Class R-II Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date.
(e) Distributions of principal in an amount equal to the sum of the amounts in respect of principal distributable on and allocated to each Class of Group VI Certificates under Section 3.05(a)4.02 shall be deemed made by the Trustee to itself, as the holder of the Uncertificated REMIC II Regular Interests, in accordance with the priority set forth in subsection (f) below.
(bf) The amounts amount described in Section 8.04(a)(iisubsection (e) above shall be deemed distributed with respect to the Uncertificated REMIC I II Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned to each Related Class of Certificates, respectively, under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof 4.02 until the Uncertificated Principal Balance of each such interest is reduced reduce to zerozero and to the Class R-II Certificates in accordance with the priority assigned to such Certificates under Section 4.02.
(cg) In determining from time to time the amounts distributable on the Uncertificated REMIC I II Regular Interest Distribution AmountsInterests, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) the REMIC III Regular Interests shall be deemed allocated to the Uncertificated REMIC I II Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect priority assigned to each Related Class of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of Certificates (other than the Class VI-AE-4 Certificates and the Class VI-AE-5 R Certificates), to Uncertificated REMIC I Regular Interest VI-A-1arespectively, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestunder Section 4.05.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(eh) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests Interests, as the case may be, described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2006- SA2 Trust)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests Interests, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the Corresponding Certificates under Section 3.05(a) to each Class of Certificates bearing the same designation or4.02(b), in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Corresponding Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class I-A-7 Certificates, Class I-A-8 Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class II-A-4 Certificates, Class II-A-5 Certificates, Class II-A-6 Certificates, Class I-A-P Certificates, Class II-A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest N, (ii) Uncertificated REMIC I Regular Interest P, (iii) Uncertificated REMIC I Regular Interest Q, (iv) Uncertificated REMIC I Regular Interest R, (v) Uncertificated REMIC I Regular Interest S, (vi) Uncertificated REMIC I Regular Interest T, (vii) Uncertificated REMIC I Regular Interest V, (viii) Uncertificated REMIC I Regular Interest W, (ix) Uncertificated REMIC I Regular Interest X, (x) Uncertificated REMIC I Regular Interest Y and (xi) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(ato the (i) to each Class of I-A-1 Certificates, (ii) Class I-A-2 Certificates, (iii) Class I-A-4 Certificates, (iv) Class I-A-3 Certificates, (v) Class I-A-7-3 Component, Class I-A-7-5 Component, Class I-A-5 Certificates, Class I-A-8 Certificates bearing and the same designation or, in the case portions of the Class VIM Certificates and Class B Certificates relating to the Group I Loans, (vi) Class II-AE-3 A-1 Certificates, to Uncertificated REMIC I Regular Interests VI(vii) Class II-A-1aA-2 Certificates, VI(viii) Class II-A-1bA-3 Certificates, VI(ix) Class II-A-1c A-4, Class II-A-6 Certificates, Class II-A-5-3 Component, Class II-A-5-5 Component, Class R-II Certificates and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case portions of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 M Certificates and the Class VI-AE-8 B Certificates relating to the Group II Loans Certificates, to Uncertificated REMIC I Regular Interests VI(x) Class I-A-1a, VIA-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 P Certificates and the (xi) Class VIII-AE-10 CertificatesA-P Certificates respectively, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof under Section 4.02(b) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of the Class VI-AE-4 Certificates priority set forth in Sections 4.02(a) and the Class VI-AE-5 Certificates(b), to the REMIC II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 4.09. The amount deemed distributable hereunder with respect to the Class I-A-1a, in the case A-V Certificates shall equal 100% of the amounts payable with respect to the Uncertificated Class VII-AE-6 Certificates, A-V REMIC Regular Interests. The amount deemed distributable hereunder with respect to the Class VIII-AE-8 A-V Certificates and shall equal 100% of the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIII-AE-7 Certificates, the Class VIA-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest T, (ii) Uncertificated REMIC I Regular Interest U, (iii) Uncertificated REMIC I Regular Interest V, (iv) Uncertificated REMIC I Regular Interest W, (v) Uncertificated REMIC I Regular Interest X, (vi) Uncertificated REMIC I Regular Interest Y, and (vii) Uncertificated REMIC I Regular Interest Z, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-3 Certificates, (iii) Class A-4, Class A-5, Class A-9, Class A-10, Class A-12, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (iv) Class A-6 Certificates and Class A-7 Certificates, (v) Class A-8 Certificates, (vi) Class A-2 Certificates and (vii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority Interests and to the extent holder of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Class R-I Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests and Class R-1 Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The amounts described in Section 8.04(a)(ii) Distributions of principal from the Group II Loans shall be deemed distributed to be made to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Interest R-II and Class of Certificates bearing the same designation or, in the case of the Class VIR-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2Certificate, pro rata in accordance with the Uncertificated Principal Balances thereofrata, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is the Uncertificated REMIC I Regular Interest R-II and the principal balance of the Class R-I Certificate have been reduced to zero.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) Distributions shall be deemed allocated to be made to the Uncertificated REMIC I Regular Interests bearing (other than Uncertificated REMIC I Regular Interest R-II) first, so as to keep the same Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation or, "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the case related Loan Group; second, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Class VI-AE-3 CertificatesGroup I Subordinate Amount, the Group II Subordinate Amount or the Group III Subordinate Amount, as the case may be (except that if on any Distribution Date the Subordinate Amount for any Loan Group is greater than the Subordinate Amount for such Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to Uncertificated REMIC I Regular Interests VII-A-1aA, VIII-A-1bA and III-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of any remaining principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, shall be distributed to Uncertificated REMIC I Regular Interest VI-A-1aZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the case related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Class VI-AE-6 CertificatesGroup I Subordinate Amount, the Class VI-AE-8 Certificates and Group II Subordinate Amount or the Class VI-AE-9 CertificatesGroup III Subordinate Amount, as the case may be (except that if on any Distribution Date the Subordinate Amount for any Group of Loans is greater than the Subordinate Amount for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to Uncertificated REMIC I Regular Interests VII-A-1aA, VIII-A-1b A and VIIII-A-1c, pro rata in accordance with A such that the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 CertificatesREMIC I Subordinate Balance Ratio is maintained); and third, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, remaining Realized Losses shall be allocated to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestZZZ.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-Sa1 Trust)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as (or the holder Paying Agent on behalf of the Uncertificated Trustee) shall allocate and distribute the Principal Distribution Amount for such date to the interests issued in respect of REMIC I Regular InterestsI, REMIC II, and REMIC III as specified in this Section.
(1) On each Distribution Date, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") amounts, in the following order of priority priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests:
(i) to the extent of the Available Funds for each Certificate Group other than Distribution Amounts, first, to the Group V Certificates:
(i) Uncertificated Accrued Interest on the Uncertificated Holders of REMIC I Regular Interests LT-S1, LT-S2 , LT-S3, LT-S4, LT-S5, LT-S6, LT-S7, LT-S8, LT-S9, LT-S10, LT-S11, LT-S12, LT-S13, LT-S14, LT-S15, LT-S16, LT-S17, LT-S18, LT- S19, LT-S20, LT-S21, LT-S22, LT-S23, LT-S24, LT-S25, LT-S26, LT-S27, LT-S28, LT- S29, LT-S30, LT-S31, LT-S32, LT-S33, LT-S34, LT-S35, LT-S36, LT-S37, LT-S38, LT- S39 and LT-S40, in an amount equal to
(A) the Uncertificated Accrued Interest for such Distribution Date, plus plus
(B) any amounts in respect thereof remaining unpaid from previous Distribution Dates and second, to Holders of REMIC I Regular Interest LT-S1 in an amount equal to
(A) the Uncertificated Accrued Interest thereon for such Distribution Date, plus
(B) any amounts in respect thereof remaining unpaid from any previous Distribution DateDates; and
(ii) In accordance with to the priority set forth Holders of REMIC I Regular Interests, in Section 8.04(b), an amount equal to the sum remainder of the amounts Available Distribution Amount for such Distribution Date after the distributions made pursuant to clause (i) above, allocated in respect the following order of principal distributable on each Class of Group VI Certificates under Section 3.05(a).priority:
(bA) The amounts described in Section 8.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class Holders of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VILT-A-1aS1, in the case of the Class VILT-AE-6 Certificates S2, LT-S3, LT-S4, LT-S5, LT-S6, LT-S7, LT-S8, LT-S9, LT-S10, LT-S11, LT-S12, LT- S13, LT-S14, LT-S15, LT-S16, LT-S17, LT-S18, LT-S19, LT-S20, LT-S21, LT-S22, LT-S23, LT-S24, LT-S25, LT-S26, LT-S27, LT-S28, LT-S29, LT- S30, LT-S31, LT-S32, LT-S33, LT-S34, LT-S35, LT-S36, LT-S37, LT-S38, LT-S39, and the Class VILT-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof S40 until the Uncertificated Principal Balance of each such interest REMIC I Regular Interest is reduced to zero;
(B) any remaining amount to the Holders of the Class R-I Certificates.
(c2) In determining On each Distribution Date, distributions from time REMIC II to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) II shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata made in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in priority given to the case Corresponding Certificates. Any remaining amount shall be distributed to the Holders of the Class VIR-AE-4 Certificates and the Class VI-AE-5 II Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.05.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests (other than REMIC I Regular Interest LT-AP) for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; andDate in the same manner as it is distributed to the Corresponding Certificate.
(iib) In accordance with On each Distribution Date, the priority set forth in Section 8.04(bTrustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, as principal on the Uncertificated REMIC I Regular Interests (other than REMIC I Regular Interest LT-AV), an amount equal to the sum of the amounts in respect of distributed as principal distributable on each the Certificates (other than the Class of Group VI Certificates R Certificates) under Section 3.05(aSections 4.02(a)(ii).
, (biv), (vi), (viii), (x), (xii), (xiv) The amounts described in Section 8.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(aand (xv) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1aLT-1, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b Interest LT-2 and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VIInterest LT-3. Distributions on REMIC I Regular Interest LT-A-1a AP shall be make in the same manner and VI-A-1b, pro rata in accordance with amounts as distributions are made on the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zeroCorresponding Certificates.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated amounts to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated distributed to the Uncertificated REMIC I Regular Interests bearing the same designation orInterests, in the case of the Class VI-AE-3 Certificates, Realized Losses allocated under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with for the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, related Distribution Date to Uncertificated REMIC I Regular Interest VI-A-1aLT-1, REMIC I Regular Interest LT-2 and REMIC I Regular Interest LT-3, in the case of same manner as distributed to the Class VI-AE-6 Corresponding Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated except that Realized Losses on REMIC I Regular Interests VIInterest LT-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, AP shall be allocated in the case of same manner as allocated to the Class VI-AE-7 Corresponding Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest R, (ii) Uncertificated REMIC I Regular Interest S, (iii) Uncertificated REMIC I Regular Interest T, (iv)Uncertificated REMIC I Regular Interest U, (v)Uncertificated REMIC I Regular Interest V, (vi) Uncertificated REMIC I Regular Interest W, (vii) Uncertificated REMIC I Regular Interest X, (viii) Uncertificated REMIC I Regular Interest Y and (ix) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-3, Class A-4, Class A-6, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (ii) Class A-2 Certificates, (iii) Class A-5 Certificates, (iv) Class A-7 Certificates, (v) Class A-8 Certificates, (vi) Class A-10 Certificates, (vii) Class A-11 Certificates, (viii) Class A-12 Certificates and (ix) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest T, (ii) Uncertificated REMIC I Regular Interest U, (iii) Uncertificated REMIC I Regular Interest V, (iv) Uncertificated REMIC I Regular Interest W, (v) Uncertificated REMIC I Regular Interest X, (vi) Uncertificated REMIC I Regular Interest Y, and (vii) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-3 Certificates, (iii) Class A-4 Certificates, (iv) Class A-6, Class A-10, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (v) Class A-7 and Class A-9-1 (vi) Class A-9-2 Certificates and (vii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority Interests and to the extent holder of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Class R-I Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests and Class R-I Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The amounts described in Section 8.04(a)(ii) Distributions of principal from the Group I Loans shall be deemed distributed to be made to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Interest R-II and Class of Certificates bearing the same designation or, in the case of the Class VIR-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2Certificate, pro rata in accordance with the Uncertificated Principal Balances thereofrata, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is the Uncertificated REMIC I Regular Interest R-II and the principal balance of the Class R-I Certificate have been reduced to zero.
(c) Distributions of principal from the Loan Groups shall then be deemed to be made to the related Uncertificated REMIC I Regular Interests (other than Uncertificated REMIC I Regular Interest R-II) first, so as to keep the Uncertificated Principal Balance of each such related Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, so as to keep the principal balance of each such related Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Component, the Group II Subordinate Component or the Group III Subordinate Component, as the case may be (except that if on any Distribution Date the Subordinate Component for any Loan Group is greater than the Subordinate Component for such Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to Uncertificated REMIC I Regular Interests I-A, II-A and III-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, any remaining principal shall be distributed to Uncertificated REMIC I Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Component, the Group II Subordinate Component or the Group III Subordinate Component, as the case may be (except that if on any Distribution Date the Subordinate Component for any Group of Loans is greater than the Subordinate Component for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to Uncertificated REMIC I Regular Interests I-A, II-A and III-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to Uncertificated REMIC I Regular Interest ZZZ.
(d) In determining from time to time the amounts distributable on the Uncertificated REMIC I Regular Interest Distribution AmountsInterests, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) the REMIC II Regular Interests shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect priority assigned to each related Class of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of Certificates (other than the Class VI-AE-4 Certificates and the Class VI-AE-5 R Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to respectively, under Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon4.05.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-Sa5 Trust)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, (iii)Uncertificated REMIC I Regular Interest Y and (iv) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interestA-2 Certificates, (ii) the Class VI-A-1b Certificates shall be deemed distributedA-1, or allocatedClass A-3, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 Class A-4, Class A-5, ▇▇▇▇▇ ▇- ▇▇, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interestClass B-3 Certificates, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.05.Class
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, and (iii) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-4, Class A-5, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (ii) Class A-3 Certificates and (iii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of the Class VI-AE-4 Certificates priority set forth in Sections 4.02(a) and the Class VI-AE-5 Certificates(b), to the REMIC II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 10.04. The amount deemed distributable hereunder with respect to the Class A-A-1a, in the case V Certificates shall equal 100% of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIA-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority priority, in each case to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.08(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-▇, ▇▇▇▇▇ ▇-▇, Class M-1, Class M-2, Class M-3, Class B-▇, ▇▇▇▇▇ ▇-▇, Class B-3 and Class R-II Certificates under Section 3.05(a4.02, as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.08(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, and (iii) Uncertificated REMIC I Regular Interest Y, respectively, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-2, Class A-3, Class A-4, Class M-1, Class M-2, Class M-3, Clas▇ ▇-▇, ▇▇▇▇▇ ▇-2, Class B-3 and Class R-II Certificates, (ii) Class A-5 and Class A-7 Certificates, and (iii) Class A-9 Certificate, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.08(a)(ii) shall be deemed distributed by REMIC I to REMIC
(d) In determining from time to time the Uncertificated REMIC I Regular Interest W Distribution AmountsAmount, Uncertificated REMIC I Regular Interest X Distribution Amount, Uncertificated REMIC I Regular Interest Y Distribution Amount and Uncertificated REMIC I Regular Interest Z Distribution Amount, Realized Losses allocated to a the Class of Group VI A-1, Class A-2, Class A-3, Class A-4, Class M-1, Class M-2, Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class ▇-▇, ▇▇▇▇▇ ▇-▇ and Class R-II Certificates under Section 3.05(d) 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest W, Realized Losses allocated to the Class A-5, Class A-6, Class A-7 and Class A-8 Certificates under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest X, Realized Losses allocated to the Class A-9 Certificates under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interest Y; and Realized Losses allocated to the Uncertificated REMIC II Regular Interests pursuant to Section 4.09 shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing Z.
(e) On each Distribution Date the same designation orTrustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Sections 4.02(a) and (b), to the Class VI-AE-3 CertificatesA-1, to Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Uncertificated REMIC I II Regular Interests VIInterests, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-A-1aII Certificates the amounts distributable thereon, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with from the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in Distribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 4.08. The amount deemed distributable hereunder with respect to the case Class A-10 Certificates shall equal 100% of the Class VI-AE-6 Certificates, amounts payable with respect to the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I II Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.01(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.07(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 3.05(a4.01(c), as allocated thereto.
(b) The amounts amount described in Section 8.04(a)(ii4.07(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest X and Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-3, Class A-▇, ▇▇▇▇▇ ▇-▇, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and (ii) Class A-1 Certificates, under Section 3.05(a4.01(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.07(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.01(c).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest X Distribution AmountsAmount, Uncertificated REMIC I Regular Interest Y Distribution Amount and Uncertificated REMIC I IO Regular Interest Distribution Amount, Realized Losses allocated to a the Class of Group VI A-▇, ▇▇▇▇▇ ▇-▇, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 3.05(d) 4.04 shall be deemed allocated to Uncertificated REMIC I Regular Interest X; Realized Losses allocated to the Class A-1 and Class A-2 Certificates under Section 4.04 shall be deemed allocated to Uncertificated REMIC I Regular Interest Y; and Realized Losses allocated to the Class A-11 Certificates pursuant to Section 4.04 shall be deemed allocated to the Uncertificated REMIC I IO Regular Interests bearing Interests.
(e) On each Distribution Date the same designation orTrustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Sections 4.01(a) and (b), to the Class VI-AE-3 CertificatesA-1, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-Class A-2, pro rata in accordance with Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestamounts distributable thereon, in from the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, Distribution Amounts deemed to Uncertificated have been received by REMIC II from REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
under this Section 4.07. (d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.07, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds Distribution Amount (less the Trustee's Fees for each Certificate Group other than such Distribution Date) reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.01(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.07(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-5, Class A-7, Class A-8, Class A-10, Class A-11, Class A-13, Class M-1, Class M- 2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 3.05(a4.01(c), as allocated thereto.
(b) The amounts amount described in Section 8.04(a)(ii4.07(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest N, (ii) Uncertificated REMIC I Regular Interest O, (iii) Uncertificated REMIC I Regular Interest P, (iv) Uncertificated REMIC I Regular Interest Q, (v) Uncertificated REMIC I Regular Interest S, (vi) Uncertificated REMIC I Regular Interest T, (vii) Uncertificated REMIC I Regular Interest U, (viii) Uncertificated REMIC I Regular Interest V, (ix) Uncertificated REMIC I Regular Interest W, (x) Uncertificated REMIC I Regular Interest X and (xi) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-3 Certificates, (iii) Class A-5 Certificates, (iv) Class A-7 Certificates, (v) Class A-8 Certificates, (vi) Class A-10 Certificates, (vii) Class A-11 Certificates, (viii) Class M-1 Certificates, (ix) Class M-2 Certificates, (x) Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates, and (xi) Class A-13 Certificates, respectively, under Section 3.05(a4.01(c) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof (d) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.07(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.01(c).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest N Distribution AmountsAmount, Uncertificated REMIC I Regular Interest O Distribution Amount, Uncertificated REMIC I Regular Interest P Distribution Amount, Uncertificated REMIC I Regular Interest Q Distribution Amount, Uncertificated REMIC I Regular Interest S Distribution Amount, Uncertificated REMIC I Regular Interest T Distribution Amount, Uncertificated REMIC I Regular Interest U Distribution Amount, Uncertificated REMIC I Regular Interest V Distribution Amount, Uncertificated REMIC I Regular Interest W Distribution Amount, Uncertificated REMIC I Regular Interest X Distribution Amount, Uncertificated REMIC I Regular Interest Y Distribution Amount and Uncertificated REMIC I IO Regular Interest Distribution Amount, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) 4.04 shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing in the same amounts and priorities as allocated to the Certificates in the corresponding numerical designation orin 4.07(b) above.
(e) On each Distribution Date the Trustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Sections 4.01(a) and (b), to the Class VI-AE-3 CertificatesA-1, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-Class A-2, pro rata in accordance with Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-14, Class M-1, Class M-X, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestamounts distributable thereon, in from the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, Distribution Amounts deemed to Uncertificated have been received by REMIC II from REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestunder this Section 4.07.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.07, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest V, (ii)Uncertificated REMIC I Regular Interest W, (iii) Uncertificated REMIC I Regular Interest X, (iv) Uncertificated REMIC I Regular Interest Y and (v) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-12, Class A-13, Class A-14, Class A-15, Class A-16, Class A-19, Class M- 1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-I Certificates, (ii) Class A-6, Class A-7, Class A-8 and Class A-9 Certificates, (iii) Class A-10 and Class A-11 Certificates, (iv) Class A-17 and Class A-18 Certificates and (v) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest Q, (ii)Uncertificated REMIC I Regular Interest R, (iii) Uncertificated REMIC I Regular Interest S, (iv) Uncertificated REMIC I Regular Interest T, (v) Uncertificated REMIC I Regular Interest V and (vi) Uncertificated REMIC I Regular Interest W with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-3, Class A-4, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (ii) Class A-2 and Class A-8 Certificates, (iii) Class A-9 Certificates, (iv) Class A-5 Certificates, (v) Class A-7 Certificates and (vi) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest V, (ii) Uncertificated REMIC I Regular Interest W, (iii) Uncertificated REMIC I Regular Interest X, and (iii) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (ii) Class A-1 Certificates, (iii) Class A-2 Certificates and (iv) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Section 4.02(a), to the Class VIA-AE-4 Certificates and the Class VI-AE-5 V Certificates, to the amounts distributable thereon from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 10.04. The amount deemed distributable hereunder with respect to the Class A-A-1a, in the case V Certificates shall equal 100% of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIA-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest R, (ii) Uncertificated REMIC I Regular Interest S, (iii) Uncertificated REMIC I Regular Interest T and (iv) Uncertificated REMIC I Regular Interest V with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-6 Certificates, (ii) Class A-8 Certificates, (iii) Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-7 Certificates, Class A-9-3 Component, Class A-10 Certificates, Class A-11 Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates and (iv) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-17 Certificates, Class A-18 Certificates, Class A-19 Certificates, Class A-20 Certificates, Class A-21 Certificates, Class A-22 Certificates, Class A-23 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B- 1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest Q, (ii)Uncertificated REMIC I Regular Interest R, (iii) Uncertificated REMIC I Regular Interest S, (iv) Uncertificated REMIC I Regular Interest T, (v) Uncertificated REMIC I Regular Interest V, (vi) Uncertificated REMIC I Regular Interest W, (vii) Uncertificated REMIC I Regular Interest X, (viii) Uncertificated REMIC I Regular Interest Y and (ix) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-3 Certificates, (iv) Class A-4, Class A-5, Class A-6, Class A-7, Class A-11, Class A-12, Class A-13, Class A-15, Class A-16, Class A-21, Class A-22, Class A-23, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (v) Class A-8 Certificates, (vi) Class A-10 Certificates, (vii) Class A-14 Certificates, (viii) Class A-17 Certificates and (ix) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-8A Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest T, (ii) Uncertificated REMIC I Regular Interest U, (iii) Uncertificated REMIC I Regular Interest V, (iv) Uncertificated REMIC I Regular Interest W and (v) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-9, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (ii) Class A-8 Certificates and (iii) Class A-10 Certificates, (iv) Class A-11 Certificates and (v) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of the Class VI-AE-4 Certificates priority set forth in Sections 4.02(a) and the Class VI-AE-5 Certificates(b), to the REMIC II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 10.04. The amount deemed distributable hereunder with respect to the Class A-A-1a, in the case V Certificates shall equal 100% of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIA-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest S, (ii)Uncertificated REMIC I Regular Interest T, (iii) Uncertificated REMIC I Regular Interest V, (iv) Uncertificated REMIC I Regular Interest W, (v) Uncertificated REMIC I Regular Interest X, (vi) Uncertificated REMIC I Regular Interest Y and (vii) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 and Class A-4 Certificates, (ii) Class A-2 Certificates, (iii) Class A-5 Certificates, (iv) Class A-6 Certificates, (v) Class A-7, Class A-8, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (vi) Class A-9 Certificates and (vii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-10 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest U, (ii) Uncertificated REMIC I Regular Interest V, (iii) Uncertificated REMIC I Regular Interest W, (iv)Uncertificated REMIC I Regular Interest X, (v)Uncertificated REMIC I Regular Interest Y and (vi) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 (ii) Class A-3 and Class A-4 Certificates, (iii) Class A-5, Class A-6, Class A-8, Class A-11, Class A-12, Class A-13, Class A-14, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, (iv) Class A-7 Certificates, (v) Class A-10 Certificates and (vi) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii) Uncertificated REMIC I Regular Interest X, (iii) Uncertificated REMIC I Regular Interest Y and (iv) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-2 Certificates, (ii) Class A-3 Certificates, (iii) Class A-4, Class A-5, Class A-6, ▇▇▇▇▇ ▇-▇, ▇lass M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates, and (iv) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii)Uncertificated REMIC I Regular Interest X, (iii)Uncertificated REMIC I Regular Interest Y and (iv) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates and Class A-2 Certificates, (ii) Class A-3, Class A-4, Class A-5, Class A-6, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (iii) Class A-7 Certificates and Class A-8 Certificates, and (iv) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI I-A-1 Certificates, Class I-A-2 Certificates, Class I-A-3 Certificates, Class I-A-4 Certificates, Class I-A-5 Certificates, Class I-A-6 Certificates, Class I-A-7 Certificates, Class II-A-1 Certificates, Class II-A-2 Certificates, Class II-A-3 Certificates, Class I-A-P Certificates, Class II-A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B- 1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest Q, (ii) Uncertificated REMIC I Regular Interest R, (iii) Uncertificated REMIC I Regular Interest S, (iv) Uncertificated REMIC I Regular Interest T, (v) Uncertificated REMIC I Regular Interest V, (vi) Uncertificated REMIC I Regular Interest W, (vii) Uncertificated REMIC I Regular Interest X, (viii) Uncertificated REMIC I Regular Interest Y and (ix) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-3 Certificates, Class A-5 Certificates and Class A-7-5 Component, (iv) Class A-4 Certificates, (v) Class A-6 Certificates, (vi) Class II-A-1, Class II-A-2 and Class II-A-3, (vii) Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (viii) Class
I- A-P Certificates and (ix) Class II-A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1ain the same amounts and priorities as allocated to the Corresponding Certificated Interests.
(e) On each Distribution Date, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestTrustee shall be deemed to distribute from REMIC II, in the case of the Class VI-AE-4 Certificates priority set forth in Sections 4.02(a) and the Class VI-AE-5 Certificates(b), to the REMIC II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest VIDistribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 4.09. The amount deemed distributable hereunder with respect to the Class I-A-1a, in the case A-V Certificates shall equal 100% of the amounts payable with respect to the Uncertificated Class VII-AE-6 Certificates, A-V REMIC Regular Interests. The amount deemed distributable hereunder with respect to the Class VIII-AE-8 A-V Certificates and shall equal 100% of the Class VI-AE-9 Certificates, amounts payable with respect to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VIII-AE-7 Certificates, the Class VIA-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated V REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest R, (ii) Uncertificated REMIC I Regular Interest S, (iii) Uncertificated REMIC I Regular Interest T, (iv) Uncertificated REMIC I Regular Interest V, (v) Uncertificated REMIC I Regular Interest W, (vi) Uncertificated REMIC I Regular Interest X, and (vii) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-3 Certificates, Class A-5 Certificates and Class A-7-5 Component, (iv) Class A-4 Certificates, (v) Class A-6 Certificates, (vi) Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and (vii) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Group I Available Funds for each Certificate and Group other than the Group V CertificatesII Available Funds:
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b)6.05, an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5 and Class A-6 Certificates under Section 3.05(a)6.05, as allocated thereto pursuant to Section 6.05.
(b) The amounts amount described in Section 8.04(a)(ii6.14(a)(ii) with respect to the Class A-1 Certificates shall be deemed distributed first to Uncertificated REMIC I Regular Interest A-1-A, until the Uncertificated Principal Balance thereof has been reduced to zero, and second, to Uncertificated REMIC I Regular Interest A-1-B, until the Uncertificated Principal Balance thereof has been reduced to zero. The amount described in Section 6.14(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest A-2, (ii) Uncertificated REMIC I Regular Interest A-3, (iii) Uncertificated REMIC I Regular Interest A-4, (iv) Uncertificated REMIC I Regular Interest A-5 and (v) Uncertificated REMIC I Regular Interest A-6 with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-2 Certificates, (ii) Class A-3 Certificates, (iii) Class A-4 Certificates, (iv) Class A-5 Certificates and (v) Class A-6 Certificates under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof 6.05 until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining On each Distribution Date the Trustee shall be deemed to distribute from time REMIC II, in the priority set forth in Sections 6.05(b) and (c), to time the Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class II S and Class R-II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated Amounts deemed to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated have been received by REMIC II from REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.under this Section 6.14. 97
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.046.14, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.056.05.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Southern Pacific Secured Assets Corp)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority Interests and to the extent holder of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Class R-I Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests and Class R-I Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and.
(iib) In accordance Distributions of principal from the Group I Loans shall be deemed to be made to the Uncertificated REMIC I Regular Interest R-II and Class R-I Certificate, pro rata, until the Uncertificated Principal Balance of the Uncertificated REMIC I Regular Interest R-II and the principal balance of the Class R-I Certificate have been reduced to zero.
(c) Distributions shall be deemed to be made to the Uncertificated REMIC I Regular Interests (other than Uncertificated REMIC I Regular Interest R-II) first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the priority set forth designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in Section 8.04(bthe related Loan Group; second, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Amount, the Group II Subordinate Amount, the Group III Subordinate Amount or the Group IV Subordinate Amount, as the case may be (except that if on any Distribution Date the Subordinate Amount for any Loan Group is greater than the Subordinate Amount for such Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to Uncertificated REMIC I Regular Interests I-A, II-A, III-A and IV-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, any remaining principal shall be distributed to Uncertificated REMIC I Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Amount, the Group II Subordinate Amount, the Group III Subordinate Amount or the Group IV Subordinate Amount as the case may be (except that if on any Distribution Date the Subordinate Amount for any Group of Loans is greater than the Subordinate Amount for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to Uncertificated REMIC I Regular Interests I-A, II-A, III-A and IV-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to Uncertificated REMIC I Regular Interest ZZZ.
(d) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC II Regular Interests and to the holder of the Class R-II Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC II Regular Interests and Class R-II Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date.
(e) Distributions of principal in an amount equal to the sum of the amounts in respect of principal distributable on and allocated to each Class of Group VI Certificates under Section 3.05(a)4.02 shall be deemed made by the Trustee to itself, as the holder of the Uncertificated REMIC II Regular Interests, in accordance with the priority set forth in subsection (f) below.
(bf) The amounts amount described in Section 8.04(a)(iisubsection (e) above shall be deemed distributed with respect to the Uncertificated REMIC I II Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned to each related Class of Certificates, respectively, under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof 4.02 until the Uncertificated Principal Balance of each such interest is reduced reduce to zerozero and to the Class R-II Certificates in accordance with the priority assigned to such Certificates under Section 4.02.
(cg) In determining from time to time the amounts distributable on the Uncertificated REMIC I II Regular Interest Distribution AmountsInterests, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) the REMIC III Regular Interests shall be deemed allocated to the Uncertificated REMIC I II Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect priority assigned to each related Class of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of Certificates (other than the Class VI-AE-4 Certificates and the Class VI-AE-5 R Certificates), to Uncertificated REMIC I Regular Interest VI-A-1arespectively, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestunder Section 4.05.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(eh) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the Uncertificated REMIC II Regular Interests Interests, as the case may be, described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-Sa3 Trust)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.08(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-▇, ▇▇▇▇▇ ▇-▇, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-11, Class A-12, Class A-13, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and Class A-10 Component A, D, F, G and H under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.08(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest Q, (ii) Uncertificated REMIC I Regular Interest S, (iii) Uncertificated REMIC I Regular Interest T, (iv) Uncertificated REMIC I Regular Interest U, (v) [NY01B:304248.5] 16069-00388 02/27/97 1:33pm Uncertificated REMIC I Regular Interest V, (vi) Uncertificated REMIC I Regular Interest W, (vii) Uncertificated REMIC I Regular Interest X and (viii) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-3 Certificates, (iv) Class A-6 Certificates, (v) Class A-7 Certificates, (vi) Class A-8 Certificates, (vii) Class A-13 Certificates and (viii) Class A-4, Class A-▇, ▇▇▇▇▇ ▇-▇, Class A-11, Class A-12, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates and Class A-10 Component A, D, F, G and H, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining from time to time The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI Certificates under Amounts described in Section 3.05(d4.08(a)(ii) shall be deemed allocated distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) [NY01B:304248.5] 16069-00388 02/27/97 1:33pm
(e) On each Distribution Date the Trustee shall be deemed to distribute from REMIC II, in the priority set forth in Sections 4.02(a) and (b), to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Uncertificated REMIC II IO Regular Interests, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates the amounts distributable thereon, from the Uncertificated REMIC I Regular Interests bearing Interest Distribution Amounts deemed to have been received by REMIC II from REMIC I under this Section 4.08. The amount deemed distributable hereunder with respect to the same designation or, in the case Class A-14 Certificates shall equal 100% of the Class VI-AE-3 Certificates, amounts payable with respect to the Uncertificated REMIC I II IO Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestInterests.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority Interests and to the extent holder of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Class R-I Certificate, Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests and Class R-I Certificate, pro rata, for such Distribution Date, plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The amounts described in Section 8.04(a)(ii) Distributions of principal from the Sub-Loan Group II-1 Loans and the Sub-Loan Group I-1 Loans shall be deemed distributed to be made to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Interest R-II and Class of Certificates bearing the same designation orR-I Certificate, in the case of the Class VI-AE-3 Certificatesrespectively, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is the Uncertificated REMIC I Regular Interest R-II and the principal balance of the Class R-I Certificate have been reduced to zero.
(c) Distributions of principal from the Sub-Loan Groups shall then be deemed to be made to the related Uncertificated REMIC I Regular Interests (other than Uncertificated REMIC I Regular Interest R-II) first, so as to keep the Uncertificated Principal Balance of each such related Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Sub-Loan Group; second, so as to keep the principal balance of each such related Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the related Sub-Loan Group I Subordinate Component (except that if on any Distribution Date the Subordinate Component for any Sub-Loan Group is greater than the Subordinate Component for such Sub-Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to Uncertificated REMIC I Regular Interests I-A1-A, I-A2-A, I-A3-A, II-A1-A and II-A2-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, any remaining principal shall be distributed to Uncertificated REMIC I Regular Interests I-ZZZ or II-ZZZ, as applicable. Realized Losses on the Mortgage Loans in a Sub-Loan Group shall be applied after all distributions have been made on each Distribution Date first, so as to keep the related Uncertificated Principal Balance of each such related Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the principal balance of each related Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the related Sub-Loan Group Subordinate Component (except that if on any Distribution Date the Subordinate Component for any Group of Loans is greater than the Subordinate Component for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to Uncertificated REMIC I Regular Interests I-A1-A, I-A2-A, I-A3-A, II-A1-A and II-A2-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to Uncertificated REMIC I Regular Interests I-ZZZ or II-ZZZ, as applicable.
(d) In determining from time to time the amounts distributable on the Uncertificated REMIC I Regular Interest Distribution AmountsInterests, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) the REMIC II Regular Interests shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect priority assigned to each related Class of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of Certificates (other than the Class VI-AE-4 Certificates and the Class VI-AE-5 R Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to respectively, under Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon4.05.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (RFMSI Series 2005-Sa4 Trust)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-2A Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-13 Certificates, Class A-14 Certificates, Class A-14A Certificates, Class A-15 Certificates, Class A-16 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest W, (ii)Uncertificated REMIC I Regular Interest X, (iii) Uncertificated REMIC I Regular Interest Y and (iv) Uncertificated REMIC I Regular Interest Z, with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1, Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class A-12, Class A-13, Class A-15, Class A-16, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (ii) Class A-1 Certificates, (iii) Class A-2 Certificates, (iv) Class A-4 Certificates, (v) Class A-7 Certificates, (vi) Class A-8 Certificates, (vii) Class A-9 Certificates, (viii) Class A-10 Certificates, (ix) Class A-11 Certificates, (x) Class A-12 Certificates, (xi) Class A-13 Certificates, (xii) Class A-14 Certificates, (xiii) Class A-14A Certificates, (xiv) Class A-15 Certificates, (xv) Class A-16 Certificates and (xvi) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Regular Interests under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-11 Certificates, Class A-12 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest N, (ii)Uncertificated REMIC I Regular Interest O, (iii) Uncertificated REMIC I Regular Interest P, (iv) Uncertificated REMIC I Regular Interest Q, (v) Uncertificated REMIC I Regular Interest S, (vi) Uncertificated REMIC I Regular Interest T (vii) Uncertificated REMIC I Regular Interest V, (viii) Uncertificated REMIC I Regular Interest W, (ix) Uncertificated REMIC I Regular Interest X, (x) Uncertificated REMIC I Regular Interest Y, and (xi) Uncertificated REMIC I Regular Interest Z with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(ato the (i) to each Class of Certificates bearing the same designation orA-5, in the case of the Class VIR-AE-3 CertificatesII, to Uncertificated REMIC I Regular Interests VI-A-1aClass M-1, VI-A-1bClass M-2, VI-A-1c Class M-3, Class B-1, Class B-2 and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 B-3 Certificates and the Class VIA-3-AE-8 1 and Class A-3- 2 Components, (ii) Class A-1 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a(iii) Class A-2 Certificates, VI-A-1b and VI-A-1c(iv) Class A-4 Certificates, pro rata in accordance with the Uncertificated Principal Balances thereof(v) Class A-7 Certificates, in the case of the (vi) Class VI-AE-7 A-8 Certificates, (vii) Class A-9 Certificates, (viii) Class A-10 Certificates, (ix) Class A-11 Certificates, (x) Class A-12 Certificates and the (xi) Class VIA-AE-10 P Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1brespectively, pro rata in accordance with the Uncertificated Principal Balances thereof under Section 4.02(b) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Regular Interests under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date Date, the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than the Group V Certificates:
(i) Uncertificated Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; andDate in the same manner as it is distributed to the Corresponding Certificate.
(iib) In accordance with On each Distribution Date, the priority set forth in Section 8.04(b)Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, as principal on the Uncertificated REMIC I Regular Interests, an amount equal to the sum of the amounts distributed as principal on the Certificates (other than the Class R Certificates) under Sections 4.02(a)(ii), (iv), (vi), (viii), (x), (xii), (xiv) and (xv), in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The the same manner as such amounts described in Section 8.04(a)(ii) shall be deemed are distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Corresponding Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated amounts to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated distributed to the Uncertificated REMIC I Regular Interests bearing the same designation orInterests, in the case of the Class VI-AE-3 Certificates, Realized Losses allocated under Section 4.05 shall be deemed allocated to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with for the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, related Distribution Date in the case of same manner as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Corresponding Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest. .
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.08, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Asset Mortgage Products Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.09(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-7 Certificates, Class A-8 Certificates, Class A-9 Certificates, Class A-10 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii4.09(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest Q, (ii)Uncertificated REMIC I Regular Interest R, (iii) Uncertificated REMIC I Regular Interest S, (iv) Uncertificated REMIC I Regular Interest T, (v) Uncertificated REMIC I Regular Interest V and (vi) Uncertificated REMIC I Regular Interest W with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-2, Class A-3, Class A-4, Class A-5, Class A-10, Class R-II, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2 and Class B-3 Certificates, (ii) Class A-1 Certificates, (iii) Class A-8 Certificates, (iv) Class A-9 Certificates, (v) Class A-6 Certificates and (vi) Class A-P Certificates, respectively, under Section 3.05(a4.02(b) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.09(a)(i) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.02(b).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.09, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each Class of Group VI Certificates under Section 3.05(a).
(b) The amounts described in Section 8.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests with the amount to be distributed allocated among such interests in accordance with the priority assigned under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 A-1 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 A-2 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 A-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 A-4 Certificates, to Uncertificated REMIC I Regular Interests VIClass A-5-A-1a and VI2 Component, Class A-5-A-1b4 Component, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 A-6 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 A-7 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 A-8 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 A-9 Certificates, to Uncertificated REMIC I Regular Interests VIClass A-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 P Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 M-1 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1bClass M-2 Certificates, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a)Class M-3 Certificates, and Realized Losses allocated pursuant to Section 3.05(d)Class B-1 Certificates, to (i) the Class VI-A-1a Certificates shall be deemed distributedB-2 Certificates, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.05.Class
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, from REMIC I, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") in the following order of priority to the extent of the Available Funds for each Certificate Group other than Distribution Amount reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.02(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b10.04(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI A-1 Certificates, Class A-2 Certificates, Class A-4 Certificates, Class A-5 Certificates, Class A-6 Certificates, Class A-P Certificates, Class M-1 Certificates, Class M-2 Certificates, Class M-3 Certificates, Class B-1 Certificates, Class B-2 Certificates, Class B-3 Certificates and Class R-II Certificates under Section 3.05(a4.02(a), as allocated thereto pursuant to Section 4.02(b).
(b) The amounts amount described in Section 8.04(a)(ii10.04(a)(ii) shall be deemed distributed to the Uncertificated REMIC I Regular Interests with in the amount same amounts and priorities as allocated to the Corresponding Certificated Interests.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 10.04(a)(i) shall be deemed distributed allocated among such interests by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 3.05(a) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof until the Uncertificated Principal Balance of each such interest is reduced to zero4.02(b).
(cd) In determining from time to time the Uncertificated REMIC I Regular Interest Distribution Amounts, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of same amounts and priorities as allocated to the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereonCorresponding Certificated Interests.
(e) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.0410.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.02.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Residential Funding Mortgage Securities I Inc)
Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the following amounts (the "Uncertificated REMIC I Regular Interest Distribution Amounts") Amounts in the following order of priority to the extent of the Available Funds Distribution Amount (less the Trustee's Fees for each Certificate Group other than such Distribution Date) reduced by distributions made to the Group V Certificates:Class R-I Certificates pursuant to Section 4.01(a):
(i) Uncertificated REMIC I Accrued Interest on the Uncertificated REMIC I Regular Interests for such Distribution Date, plus any Uncertificated REMIC I Accrued Interest thereon remaining unpaid from any previous Distribution Date; and
(ii) In accordance with the priority set forth in Section 8.04(b4.07(b), an amount equal to the sum of the amounts in respect of principal distributable on each the Class of Group VI ▇-▇, ▇▇▇▇▇ ▇-▇, Class A-5, Class A-8, Class A-9, Class A-10, Class M-1, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates under Section 3.05(a4.01(c), as allocated thereto.
(b) The amounts amount described in Section 8.04(a)(ii4.07(a)(ii) shall be deemed distributed to the (i) Uncertificated REMIC I Regular Interests Interest N, (ii) Uncertificated REMIC I Regular Interest O, (iii) Uncertificated REMIC I Regular Interest P, (iv) Uncertificated REMIC I Regular Interest Q, (v) Uncertificated REMIC I Regular Interest R, (vi) Uncertificated REMIC I Regular Interest S, (vii) Uncertificated REMIC I Regular Interest T, (viii) Uncertificated REMIC I Regular Interest U, (ix) Uncertificated REMIC I Regular Interest W, (x) Uncertificated REMIC I Regular Interest X and (xi) Uncertificated REMIC I Regular Interest Y with the amount to be distributed allocated among such interests in accordance with the priority assigned to the (i) Class A-1 Certificates, (ii) Class A-2 Certificates, (iii) Class A-5 Certificates, (iv) Class A-8 Certificates, (v) Class A-9 Certificates, (vi) Class A-10 Certificates, (vii) Class R-I Certificates, (viii) Class M-1 Certificates, (ix) Class M-2 Certificates, (x) Class M-3 Certificates, (xi) Class B-1, Class B-2 and Class B-3 Certificates, respectively, under Section 3.05(a4.01(c) to each Class of Certificates bearing the same designation or, in the case of the Class VI-AE-3 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-A-2, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-4 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates and the Class VI-AE-8 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof, in the case of the Class VI-AE-7 Certificates and the Class VI-AE-10 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof (d) until the Uncertificated Principal Balance of each such interest is reduced to zero.
(c) The portion of the Uncertificated REMIC I Regular Interest Distribution Amounts described in Section 4.07(a)(ii) shall be deemed distributed by REMIC I to REMIC II in accordance with the priority assigned to the REMIC II Certificates relative to that assigned to the REMIC I Certificates under Section 4.01(c).
(d) In determining from time to time the Uncertificated REMIC I Regular Interest N Distribution AmountsAmount, Uncertificated REMIC I Regular Interest P Distribution Amount, Uncertificated REMIC I Regular Interest Q Distribution Amount, Uncertificated REMIC I Regular Interest R Distribution Amount, Uncertificated REMIC I Regular Interest S Distribution Amount, Uncertificated REMIC I Regular Interest T Distribution Amount, Uncertificated REMIC I Regular Interest U Distribution Amount, Uncertificated REMIC I Regular Interest X Distribution Amount, Uncertificated REMIC I Regular Interest Y Distribution Amount and Uncertificated REMIC I IO Regular Interest Distribution Amount, Realized Losses allocated to a Class of Group VI the Certificates under Section 3.05(d) 4.04 shall be deemed allocated to the Uncertificated REMIC I Regular Interests bearing in the same amounts and priorities as allocated to the Certificates in the corresponding numercial designation orin 4.07(b) above.
(e) On each Distribution Date the Trustee shall be deemed to distribute from REMIC II, in the case of priority set forth in Sections 4.01(a) and (b), to the Class VI-AE-3 CertificatesA-1, to Uncertificated REMIC I Regular Interests VI-A-1a, VI-A-1b, VI-A-1c and VI-Class A-2, pro rata in accordance with Class A-3, Class A-4, Class A-5, Class A-6, Class A-7, Class A-8, Class A-9, Class A-10, Class A-11, Class M-1, Class M-X, Class M-2, Class M-3, Class B-1, Class B-2, Class B-3 and Class R-II Certificates the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestamounts distributable thereon, in from the case of the Class VI-AE-4 Certificates and the Class VI-AE-5 Certificates, to Uncertificated REMIC I Regular Interest VI-A-1a, in the case of the Class VI-AE-6 Certificates, the Class VI-AE-8 Certificates and the Class VI-AE-9 Certificates, Distribution Amounts deemed to Uncertificated have been received by REMIC II from REMIC I Regular Interests VI-A-1a, VI-A-1b and VI-A-1c, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interest, in the case of the Class VI-AE-7 Certificates, the Class VI-AE-10 Certificates and the Class VI-AE-11 Certificates, to Uncertificated REMIC I Regular Interests VI-A-1a and VI-A-1b, pro rata in accordance with the Uncertificated Principal Balances thereof if in respect of principal or in accordance with Uncertificated Accrued Interest thereon if in respect of interestunder this Section 4.07.
(d) Amounts distributed pursuant to section 3.05(a), and Realized Losses allocated pursuant to Section 3.05(d), to (i) the Class VI-A-1a Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interst VI-AE-4 if in respect of principal or to REMIC II Regular Interests VI-AE-4 and VI-AE-5 pro rata in accordance with accrued interest thereon if in respect of interest, (ii) the Class VI-A-1b Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-8 if in respect of principal or to REMIC II Regular Interests VI-AE-8 and VI-AE-9 pro rata in accordance with accrued interest thereon if in respect of interest, (iii) the Class VI-A-1c Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interest VI-AE-10 if in respect of principal or to REMIC II Regular Interests VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (iv) the Class VI-AE-3 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8, VI-AE-10 and VI-A-2 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10, VI-AE-11 and VI-A-2 pro rata in accordance with accrued interest thereon if in respect of interest, (v) the Class VI-AE-6 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (vi) the Class VI-AE-7 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest, (vii) the Class VI-AE-8 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-8 and VI-AE-10 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon if in respect of interest, (viii) the Class VI-AE-9 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8, VI-AE-9, VI-AE-10 and VI-AE-11 pro rata in accordance with accrued interest thereon, (ix) the Class VI-AE-10 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4 and VI-AE-8 pro rata in accordance with the Current Principal Amount thereof if in respect of principal or to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon if in respect of interest and (x) the Class VI-AE-11 Certificates shall be deemed distributed, or allocated, to REMIC II Regular Interests VI-AE-4, VI-AE-5, VI-AE-8 and VI-AE-9, pro rata in accordance with accrued interest thereon.
(ef) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests and the REMIC II Regular Interests described in this Section 8.044.07, distributions of funds from the Certificate Account shall be made only in accordance with Section 3.054.01.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Impac Secured Assets Corp)