M-3 Principal Distribution Amount definition

M-3 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date, 100% of the Principal Distribution Amount for such Distribution Date if the Certificate Principal Balances of the Class A and Class R Certificates have been reduced to zero and a Stepdown Trigger Event exists, or as long as a Stepdown Trigger Event does not exist, the excess of (1) the sum of (A) the Certificate Principal Balances of the Class A and Class R Certificates (after taking into account distributions of the Class A Principal Distribution Amount on such Distribution Date) and (B) the Class M-1 Certificate Principal Balance, the Class M-2 Certificate Principal Balance and the Class M-3 Certificate Principal Balance immediately prior to such Distribution Date over (2) the lesser of (A) 73.10% of the Stated Principal Balances of the Mortgage Loans and (B) the excess of the Stated Principal Balances for the Mortgage Loans over the Minimum Required Overcollateralization Amount. Notwithstanding the foregoing, (I) on any Distribution Date prior to the Stepdown Date on which the Certificate Principal Balance of each Class of the Class A Certificates and Class R Certificate has been reduced to zero, the Class M-1/M-2/M-3 Principal Distribution Amount will equal the lesser of (x) the outstanding Certificate Principal Balance of the Class M-1, Class M-2 and Class M-3 Certificates and (y) 100% of the Principal Distribution Amount remaining after any distributions on such Class A Certificates and Class R Certificate and (II) in no event will the Class M-1/M-2/M-3 Principal Distribution Amount with respect to any Distribution Date exceed the Class M-1, Class M-2 and Class M-3 Certificate Principal Balance.
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M-3 Principal Distribution Amount. With respect to any Distribution Date on or after the Stepdown Date and on which a Trigger Event is not in effect, the excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the payment of the Class A Principal Distribution Amount on such Distribution Date) and (ii) the sum of the Certificate Principal Balances of the Class M-1, Class M-2 and Class M-3 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 75.40% and (ii) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced and unscheduled collections of principal received during the related Prepayment Period) minus the product of (i) 0.50% and (ii) the aggregate principal balance of the Mortgage Loans as of the Cut-off Date.
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M-3 Principal Distribution Amount. With respect to Class 1-M-3 Certificates and any Distribution Date (i) prior to the Stepdown Date or on or after the Stepdown Date if a Trigger Event is in effect for that Distribution Date, the Group 1 Principal Distribution Amount for that Distribution Date remaining after distribution of the Class 1-A Principal Distribution Amount, the Class 1-M-1 Principal Distribution Amount and the Class 1-M-2 Principal Distribution Amount or (ii) on or after the Stepdown Date if a Trigger Event is not in effect for that Distribution Date, the lesser of: o the Group 1 Principal Distribution Amount for that Distribution Date remaining after distribution of the Class 1-A Principal Distribution Amount, the Class 1-M-1 Principal Distribution Amount and the Class 1-M-2 Principal Distribution Amount; and o the excess (if any) of (A) the sum of (1) the Class Principal Balance of the Class 1-M-3 Certificates immediately prior to that Distribution Date and (2) the aggregate Class Principal Balance of the Class 1-A Certificates and the Class 1-M-1 and Class 1-M-2 Certificates (after taking into account the payment of the Class 1-A, Class 1-M-1 and Class 1-M-2 Principal Distribution Amounts for such Distribution Date) over (B) the lesser of (i) the aggregate Stated Principal Balance of the Collateral Allocation Group 1 Mortgage Loans as of the last day of the related Due Period multiplied by 92.40% and (ii) the amount, if any, by which (x) the aggregate Stated Principal Balance of the Collateral Allocation Group 1 Mortgage Loans as of the last day of the related Due Period exceeds (y) $1,138,588.
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Examples of M-3 Principal Distribution Amount in a sentence

  • To the Class M-3 Certificates, the Class M-3 Principal Distribution Amount for the Distribution Date, excluding any Subordination Increase Amount included in that amount, until the Certificate Principal Balance thereof is reduced to zero.

  • To the Class M-3 Certificates, the Class M-3 Principal Distribution Amount for the Distribution Date, excluding any Subordination Increase Amount or OC Holiday Realized Loss Amount included in that amount, until the Certificate Principal Balance thereof is reduced to zero.

  • To the Class M-3 Certificates, the Class M-3 Principal Distribution Amount for the applicable Distribution Date, excluding any Subordination Increase Amount included in that amount, until its Certificate Principal Balance is reduced to zero.


More Definitions of M-3 Principal Distribution Amount

M-3 Principal Distribution Amount. With respect to any Distribution Date, an amount equal to the excess of (x) the sum of (A) the aggregate Class Certificate Balance of the Class I-A-1 Certificates (after taking into account the payment of the Class I-A-1 Principal Distribution Amount on that Distribution Date), (B) the Class Certificate Balance of the Class I-M-1 Certificates (after taking into account the payment of the Class I-M-1 Principal Distribution Amount on that Distribution Date), (C) the Class Certificate Balance of the Class I-M-2 Certificates (after taking into account the payment of the Class I-M-2 Principal Distribution Amount on that Distribution Date) and (D) the Class Certificate Balance of the Class I-M-3 Certificates immediately prior to that Distribution Date, over (y) the lesser of (A) the product of (i) 76.60% and (ii) the aggregate Stated Principal Balance of the Group I Mortgage Loans for that Distribution Date, and (B) the excess, if any, of the aggregate Stated Principal Balance of the Group I Mortgage Loans for that Distribution Date over the Group I Overcollateralization Floor. Class I-M-4 Certificates: All Certificates bearing the class designation of “Class I-M-4 Certificates” and evidencing (i) a REMIC Regular Interest in REMIC I-D, (ii) the right to receive the related Basis Risk Carry Forward Amounts and (iii) the obligation to pay any Class IO Distribution Amount.
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M-3 Principal Distribution Amount. With respect to any Distribution Date, an amount equal, on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, to the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amounts of the Senior Certificates and the Class M-1 and Class M-2 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the ▇-▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇.
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M-3 Principal Distribution Amount. For any Distribution Date, an amount equal to the excess of (x) the sum of (i) the aggregate Certificate Principal Balance of the Class A Certificates (after taking into account the payment of the Class A Principal Distribution Amount on such Distribution Date) and (ii) the aggregate Certificate Principal Balance of the Class M-1, Class M-2 and Class M-3 Certificates immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 82.20% and (ii) the aggregate Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (B) the aggregate Principal Balance of the Mortgage Loans as of the last day of the related Due Period (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) minus $6,250,000.
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M-3 Principal Distribution Amount. With respect to any Distribution Date (i) prior to the Stepdown Date or on or after the Stepdown Date if a Trigger Event is in effect for that Distribution Date, the remaining Group I Principal Distribution Amount for that Distribution Date after distribution of the Class I-A Principal Distribution Amount, Class I-M-1 Principal Distribution Amount and Class I-M-2 Principal Distribution Amount or (ii) on or after the Stepdown Date if a Trigger Event is not in effect for that Distribution Date, the lesser of:
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M-3 Principal Distribution Amount. For any Distribution Date, the excess of (x) the sum of (A) the aggregate Class Principal Balance of the Group 3-A, Class 3-M-1 and Class 3-M-2 Certificates (after taking into account any payment of the Group 3-A, Class 3-M-1 and Class 3-M-2 Principal Distribution Amounts on such Distribution Date) and (B) the Class 3-M-3 Principal Balance immediately prior to such Distribution Date over (y) the lesser of (A) the product of (i) 94.7% and (ii) the aggregate Stated Principal Balance of the Group 3 Loans on such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Group 3 Loans on such Distribution Date over 0.35% of the aggregate principal balance of the Group 3 Loans as of the Cut-Off Date. Class 3-M-3-L Regular Interest: The uncertificated undivided beneficial interest in REMIC IV which constitutes a REMIC IV Regular Interest and is entitled to distributions as set forth herein. Class 3-M-4 Certificates: The Certificates designated as “Class 3-M-4” on the face thereof in substantially the form attached hereto as Exhibit A.
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Related to M-3 Principal Distribution Amount

  • M3 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Senior Certificates and the Class M1 and Class M2 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M3 Certificates immediately prior to such Distribution Date exceeds (y) the M3 Target Amount.

  • M1 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Senior Certificates after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M1 Certificates immediately prior to such Distribution Date exceeds (y) the M1 Target Amount.

  • M2 Principal Distribution Amount With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Amount of the Class A and Class M1 Certificates, in each case after giving effect to distributions on such Distribution Date and (ii) the Class Principal Amount of the Class M2 Certificates immediately prior to such Distribution Date exceeds (y) the M2 Target Amount.

  • Class B-3 Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the sum of (A) the aggregate Class Certificate Balances of the Class A Certificates (after taking into account the distribution of the Class A Principal Distribution Amount for such Distribution Date), (B) the Class Certificate Balance of the Class M-1 Certificates (after taking into account the distribution of the Class M-1 Principal Distribution Amount for such Distribution Date), (C) the Class Certificate Balance of the Class M-2 Certificates (after taking into account the distribution of the Class M-2 Principal Distribution Amount for such Distribution Date), (D) the Class Certificate Balance of the Class M-3 Certificates (after taking into account the distribution of the Class M-3 Principal Distribution Amount for such Distribution Date), (E) the Class Certificate Balance of the Class B-1 Certificates (after taking into account the distribution of the Class B-1 Principal Distribution Amount for such Distribution Date), (I) the Class Certificate Balance of the Class B-2 Certificates (after taking into account the distribution of the Class B-2 Principal Distribution Amount for such Distribution Date) and (J) the Class Certificate Balance of the Class B-3 Certificates immediately prior to such Distribution Date over (ii) the lesser of (A) 92.50% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over $3,608,680.

  • Class B-2 Principal Distribution Amount With respect to any Distribution Date, the excess of (i) the sum of (A) the aggregate Class Certificate Balances of the Class A Certificates (after taking into account the distribution of the Class A Principal Distribution Amount for such Distribution Date), (B) the Class Certificate Balance of the Class M-1 Certificates (after taking into account the distribution of the Class M-1 Principal Distribution Amount for such Distribution Date), (C) the Class Certificate Balance of the Class M-2 Certificates (after taking into account the distribution of the Class M-2 Principal Distribution Amount for such Distribution Date), (D) the Class Certificate Balance of the Class M-3 Certificates (after taking into account the distribution of the Class M-3 Principal Distribution Amount for such Distribution Date), (E) the Class Certificate Balance of the Class M-4 Certificates (after taking into account the distribution of the Class M-4 Principal Distribution Amount for such Distribution Date), (F) the Class Certificate Balance of the Class M-5 Certificates (after taking into account the distribution of the Class M-5 Principal Distribution Amount for such Distribution Date), (G) the Class Certificate Balance of the Class M-6 Certificates (after taking into account the distribution of the Class M-6 Principal Distribution Amount for such Distribution Date), (H) the Class Certificate Balance of the Class B-1 Certificates (after taking into account the distribution of the Class B-1 Principal Distribution Amount for such Distribution Date), and (I) the Class Certificate Balance of the Class B-2 Certificates immediately prior to such Distribution Date over (ii) the lesser of (A) 90.90% of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date and (B) the excess, if any, of the aggregate Stated Principal Balance of the Mortgage Loans for such Distribution Date over $11,334,248.