Payment of Principal and Interest; Defaulted Interest Sample Clauses

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2-A Notes, the Class A-2-B Notes, the Class A-3 Notes, the Class A-4 Notes, the Class B Notes and the Class C Notes shall accrue interest at the Class A-1 Rate, the Class A-2-A Rate, the Class A-2-B Rate, the Class A-3 Rate, the Class A-4 Rate, the Class B Rate and the Class C Rate, respectively, as set forth in Exhibit A-1, Exhibit A-2-A, Exhibit A-2-B, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit C, respectively, and such interest shall be payable on each Payment Date as specified therein, subject to Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date to such Person as appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.12, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment shall be made by wire transfer in immediately available funds to the account designated by such nominee, if an account is so designated; provided, however, that the final installment of principal payable with respect to such Note on a Payment Date or on the related Stated Maturity Date (including the Redemption Price for any Note called for redemption pursuant to Section 10.01) shall be payable as provided in paragraph (b) below. The funds represented by any such payments returned undelivered shall be held in accordance with Section 3.03. (b) The principal of each Note shall be payable in installments on each Payment Date as provided in Section 3.01 hereof and the forms of the Notes set forth in Exhibit A-1, Exhibit A-2-A, Exhibit A-2-B, Exhibit A-3, Exhibit A-4, Exhibit B and Exhibit C. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes may be declared immediately due and payable, if not previously paid, in the manner provided in Section 5.02 on any date on which an Event of Default shall have occurred and be continuing, by the Indenture Trustee or the Indenture Trustee acting at the direction of the Holders of Notes representing not less than a majority of the Outstanding Amount of the Controlling Class. All principal payments on each Class of Notes shall be made pro rata to the Noteholders of the related Class enti...

Payment of Principal and Interest; Defaulted Interest. (a) The Notes shall accrue interest on their Outstanding balance at their Note Rate before and after maturity. Interest shall be payable on each Payment Date as specified in Section 8.03 or 5.05, subject to Section 3.01. Any installment of interest or principal payable on a Note that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the person in whose name the Note (or its predecessor Note) is registered on the Record Date by wire transfer of immediately available funds to the account designated by the Holder at a bank or other entity having appropriate facilities, if the Holder has so notified the Indenture Trustee in writing at least five Business Days before the Record Date and is either the Depository or owner of record of Notes having an aggregate principal amount of at least $1,000,000, and otherwise by check mailed first-class postage prepaid to the Holder's address as it appears on the Note Register on the Record Date, or by any other means the Noteholder and the Indenture Trustee agree to, except for the final installment of principal payable on the Note on a Payment Date, a redemption date, or the Scheduled Maturity Date (and except for the redemption price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. (b) The principal of each Note shall be payable, if not previously paid, on the related Scheduled Maturity Date in the manner specified in Section 8.

Payment of Principal and Interest; Defaulted Interest. (a) On each Payment Date (other than a Payment Date after an Event of Default and an acceleration of the Notes), from amounts on deposit in the Trustee Collection Account resulting from Interest Collections and Principal Collections with respect to the Mortgage Loans (after the Indenture Trustee has removed any investment earnings to be retained by it pursuant to Section 6.07 or paid to the Depositor pursuant to Section 5.03 of the Sale and Servicing Agreement), minus the Indenture Trustee Fee payable to the Indenture Trustee for such Payment Date and any permitted expenses reimbursable to the Indenture Trustee pursuant to Section 6.07, the Indenture Trustee shall apply the following amounts in the following order of priority, in accordance with the Report to Noteholders: first, to pay the accrued and unpaid interest due on the Note Balances (or Variable Funding Balance in the case of the Variable Funding Notes) of the Notes and the notional balance of the Class [A-IO] Notes at their respective Note Rates, in the following order: (A) to the Senior Notes on a pro rata basis in accordance with the amount of accrued interest due thereon; (B) to the Class M-1 notes; (C) to the Class M-2 notes; (D) to the Class B-1 notes; and (E) to the Class B-2 notes; second, to pay as principal on the Notes (other than the Class [A-IO] Notes), in an amount equal to the Principal Collection Distribution Amount, in the following order: (A) to the Senior Notes, in the order specified in Section 3.26(a) and (b), until their aggregate Note Balance has been reduced to the Senior Optimal Principal Balance; (B) to the Class M-1 Notes, until the Note Balance thereof has been reduced to the Class M-1 Optimal Balance; (C) to the Class M-2 Notes, until the Note Balance thereof has been reduced to the Class M-2 Optimal Balance; (D) to the Class B-1 Notes, until the Note Balance thereof has been reduced to the Class B-1 Optimal Balance; (E) to the Class B-2 Notes, until the Note Balance thereof has been reduced to the Class B-2 Optimal Balance; third, to pay as principal on the Senior Notes, in the order specified in Section 3.26(a) and (b), until their aggregate Note Balance has been reduced to the Senior Optimal Principal Balance, an amount equal to the Liquidation Loss Distribution Amount; fourth, to pay as principal on the Class M-1 Notes, until the Note Balance thereof has been reduced to the Class M-1 Optimal Balance, an amount equal to the Liquidation Loss Distribution Amount, to t...

Payment of Principal and Interest; Defaulted Interest. (a) Each Class of Notes shall accrue interest during each Interest Accrual Period at the related Interest Rate, and such interest shall be payable on each Distribution Date as specified therein, subject to Section 3.01.

Payment of Principal and Interest; Defaulted Interest. CANCELLATION

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2 Notes, the Class A-3 Notes, the Class A-4 Notes and the Class B Notes shall accrue interest during the related Interest Accrual Period at the Class A-1 Interest Rate, the Class A-2 Interest Rate, the Class A-3 Interest Rate, the Class

Payment of Principal and Interest; Defaulted Interest. (a) The Class A-1 Notes, the Class A-2a Notes, the Class A-2b Notes, the Class A-3a Notes, the Class A-3b Notes, the Class A-4a Notes, the Class A-4b Notes, the Class B Notes and the Class C Notes shall accrue interest at the Class A-1 Interest Rate, the Class A-2a Interest Rate, the Class A-2b Interest Rate, the Class A-3a Interest Rate, the Class A-3b Interest Rate, the Class A-4a Interest Rate, the Class A-4b Interest Rate, the Class B Interest Rate and the Class C Interest Rate, respectively, as set forth in Exhibit ▇-▇, ▇▇▇▇▇▇▇ ▇-▇▇, Exhibit ▇-▇▇, ▇▇▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇▇▇ ▇-▇▇, ▇▇▇▇▇▇▇ B and Exhibit C, respectively, and such interest shall be payable on each Payment Date as specified therein, subject to Section 3.01. Interest on each Class of Senior Notes, other than the Class A-1 Notes, the Class A-2b Notes, the Class A-3b Notes and the Class A-4b Notes, will be calculated on the basis of a 360-day year consisting of twelve 30-day months. Interest on the Class A-1 Notes will be computed on the basis of the actual number of days in the Class A-1 Interest Accrual Period divided by 360. Interest on the Class A-2b Notes, the Class A-3b Notes and the Class A-4b Notes will be computed on the basis of the actual number of days in the Floating Rate Interest Accrual Period divided by 360. Any installment of interest or principal payable on a Senior Note, or any Class D Payment Amount payable on the Class D Notes, that is punctually paid or duly provided for by the Issuer on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date by check mailed first-class postage prepaid to such Person’s address as it appears on the Note Register on such Record Date, except that, unless Definitive Notes have been issued pursuant to Section 2.13, with respect to Notes registered on the Record Date in the name of the nominee of the Clearing Agency (initially, such nominee to be Cede & Co.), payment will be made by wire transfer in immediately available funds to the account designated by such nominee, and except for the final installment of principal payable with respect to such Note on a Payment Date or on the applicable class final scheduled Payment Date (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall b...

Payment of Principal and Interest; Defaulted Interest. (a) Each Class of Notes shall accrue interest at the related Interest Rate, and such interest shall be payable on each Distribution Date as specified therein, subject to Section 3.01. Any installment of interest or principal, if any, payable on any Note which is punctually paid or duly provided for by the Issuer on the applicable Distribution Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date, by wire transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Distribution Date or on the related Final Distribution Date, as the case may be (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.01(a)), which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.03. (b) The principal of each Note shall be payable on each Distribution Date to the extent provided in the form of the related Note set forth as an Exhibit hereto. Notwithstanding the foregoing, the entire unpaid principal amount of the Notes shall be due and payable, if not previously paid, on the date on which the maturity of the Notes has been accelerated in the manner provided in Section 5.

Payment of Principal and Interest; Defaulted Interest. (a) The Notes shall accrue interest as provided herein, and such amount shall be due and payable on each Payment Date as specified herein. Any installment of interest or principal, if any, payable on any Note which is punctually paid or duly provided for by the Trust on the applicable Payment Date shall be paid to the Person in whose name such Note (or one or more Predecessor Notes) is registered on the Record Date, by check mailed first-class, postage prepaid, to such Person's address as it appears on the Note Register on such Record Date or by wire transfer in immediately available funds to the account designated by such nominee and except for the final installment of principal payable with respect to such Note on a Payment Date or on the related Note Maturity Date (and except for the Redemption Price for any Note called for redemption pursuant to Section 10.1(a)) which shall be payable as provided below. The funds represented by any such checks returned undelivered shall be held in accordance with Section 3.