Common use of Allocation and Distribution of Yield Maintenance Premiums Clause in Contracts

Allocation and Distribution of Yield Maintenance Premiums. (a) On each Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Loan during the related Collection Period and allocable to the Trust Loan pursuant to the Co-Lender Agreement and remitted by the Servicer pursuant to Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders of each Class of Non-Retained Regular Certificates shall be entitled to receive that portion of such Non-Retained Yield Maintenance Premium equal to the product of (x) a fraction, the numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the denominator of which is the total amount of principal distributed to the holders of all of the Non-Retained Regular Certificates on such Distribution Date and (y) the amount of such Non-Retained Yield Maintenance Premium. If both the Class D and Class E Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium is distributable, such Non-Retained Yield Maintenance Premium will be allocated between both such Classes of Non-Retained Regular Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph.

Allocation and Distribution of Yield Maintenance Premiums. On any Distribution Date, Yield Maintenance Premiums, if any, collected in respect of the Trust Loan during the related Collection Period shall be distributed by the Certificate Administrator to the Holders of each Class of Certificates in the following manner: (a1) pro rata, between (x) the group (the “YM Group A”) of Class A and Class X-A Certificates, and (y) the group (the “YM Group B” and collectively with the YM Group A, the “YM Groups”) of Class X-B, Class B, Class C and Class D Certificates, based upon the aggregate amount of principal distributed to the Classes of Sequential Pay Certificates in each YM Group on such Distribution Date, and (2) as among the Classes of Certificates in each YM Group, in the following manner: (A) the Certificateholders of each Class of Sequential Pay Certificates in such YM Group shall be entitled to receive on each Distribution Date an amount of Yield Maintenance Premiums, if any, collected in respect of the Trust Loan prepayments, equal to the product of (i) a fraction whose numerator is the amount of principal distributed to such Class on such Distribution Date and whose denominator is the total amount of principal distributed to all of the Certificates in that YM Group representing principal payments in respect of the Trust Loan on such Distribution Date, (ii) the Base Interest Fraction for the related principal prepayment and such Class of Sequential Pay Certificates, and (iii) the Yield Maintenance Premiums, as applicable, collected during the related Collection Period and allocated to such YM Group, and (B) any Yield Maintenance Premiums, as applicable, allocated to such YM Group collected during the related Collection Period remaining after such distributions to the Sequential Pay Certificates in such YM Group will be distributed to the Class of Class X Certificates in such YM Group. On each Distribution Date, the Certificate Administrator shall withdraw from the apply amounts related to Yield Maintenance Premiums then on deposit in the Lower-Tier Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Loan and received during or prior to the related Collection Period and allocable to the Trust Loan Class LA Uncertificated Interest pursuant to the Co-Lender Agreement and remitted by the Servicer pursuant to this Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders of each Class of Non-Retained Regular Certificates shall be entitled to receive that portion of such Non-Retained Yield Maintenance Premium equal to the product of (x) a fraction, the numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the denominator of which is the total amount of principal distributed to the holders of all of the Non-Retained Regular Certificates on such Distribution Date and (y) the amount of such Non-Retained Yield Maintenance Premium. If both the Class D and Class E Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium is distributable, such Non-Retained Yield Maintenance Premium will be allocated between both such Classes of Non-Retained Regular Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph4.3.

Allocation and Distribution of Yield Maintenance Premiums. (a) On each Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Trust Loan during the related Collection Period and allocable shall be distributed to the Trust Loan pursuant to holders of each Class of Certificates (other than the Co-Lender Agreement and remitted by the Servicer pursuant to Section 3.4(dClass R Certificates) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders Certificateholders of each Class of Non-Retained Regular Sequential Pay Certificates shall be entitled to receive that portion on each Distribution Date an amount of such Non-Retained Yield Maintenance Premium Premiums for the Trust Loan prepayments, in an amount equal to the product of (x) a fraction, the fraction whose numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the whose denominator of which is the total amount of principal distributed to the holders of all Sequential Pay Certificates representing principal payments collected in respect of the Non-Retained Regular Certificates Trust Loan on such Distribution Date and Date, (y) the amount Base Interest Fraction for the related principal prepayment and such Class of such Non-Retained Certificates, and (z) the Yield Maintenance PremiumPremiums collected during the related Collection Period; and (ii) any Yield Maintenance Premiums collected during the related Collection Period remaining after such distributions will be distributed to the Class X Certificates. If both the there is more than one such Class D and Class E of Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium is Premiums are distributable, the aggregate amount of such Non-Retained Yield Maintenance Premium will Premiums shall be allocated between both among all such Classes of Non-Retained Regular Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph. For the avoidance of doubt, the Class X Certificates shall not be entitled to any Yield Maintenance Premiums after their respective Notional Amounts has been reduced to zero.

Allocation and Distribution of Yield Maintenance Premiums. (a) On each any Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Trust Loan during the related Collection Period and allocable shall be distributed to the Trust Loan pursuant to holders of each Class of Certificates (other than the Co-Lender Agreement and remitted by the Servicer pursuant to Section 3.4(dClass R Certificates) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders Certificateholders of each Class of Non-Retained Regular Sequential Pay Certificates shall be entitled to receive that portion on each Distribution Date, an amount of such Non-Retained Yield Maintenance Premium Premiums for the Trust Loan prepayments, in an amount equal to the product of (x) a fraction, the fraction whose numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the whose denominator of which is the total amount of principal distributed to the holders of all of the Non-Retained Regular Certificates representing principal payments collected in respect of the Trust Loan on such Distribution Date, (y) the Base Interest Fraction for the related principal prepayment on such Class of Certificates, and (z) the Yield Maintenance Premiums collected during the related Collection Period; and (ii) any Yield Maintenance Premiums collected during the related Collection Period remaining after such distributions will be further distributed as follows: to the Class X Certificates, in an amount equal to the product of (1) a fraction whose numerator is the amount of principal distributed to the Class A Certificates on such Distribution Date and whose denominator is the total amount of principal distributed to all of the Certificates representing principal payments in respect of the Trust Loan on such Distribution Date, and (y2) the Yield Maintenance Premium collected during the related Collection Period, minus (b) the amount of such Non-Retained Yield Maintenance PremiumPremium distributable to the Class A, Class B, Class C and Class D Certificates on such Distribution Date. If both the there is more than one such Class D and Class E of Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium is Premiums are distributable, the aggregate amount of such Non-Retained Yield Maintenance Premium will Premiums shall be allocated between both among all such Classes of Non-Retained Regular Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph. For the avoidance of doubt, the Class X Certificates shall not be entitled to any Yield Maintenance Premiums after their respective Notional Amounts has been reduced to zero.

Allocation and Distribution of Yield Maintenance Premiums. (a) On each Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums Premium actually collected in respect of the Mortgage Loan during the related Collection Period and allocable to the Trust Loan pursuant to the Co-Lender Agreement and remitted by the Servicer pursuant to Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective following Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders 168 holders of the Principal Balance Certificates will, in the case of each Class of Non-Retained Regular Certificates shall thereof, be entitled to receive that portion of such Non-Retained Yield Maintenance Premium equal to the product of (xA) a fraction, the fraction whose numerator of which is the amount of principal distributed to such the subject Class of Principal Balance Certificates on such Distribution Date and the whose denominator of which is the total amount of principal distributed to all of the Principal Balance Certificates on such Distribution Date, (B) the Base Interest Fraction for the related principal prepayment and the subject Class of Principal Balance Certificates, and (C) the amount of such Yield Maintenance Premium allocated to the Trust Loan; and (ii) the holders of all the Class X Certificates will be entitled to receive the excess, if any, of (a) the Non-Retained Regular amount of such Yield Maintenance Premium allocated to the Trust Loan, over (b) the amount thereof distributed with respect to the Principal Balance Certificates on such Distribution Date and in accordance with the immediately preceding clause (y) the amount of such Non-Retained Yield Maintenance Premiumi). If both the there is more than one Class D and Class E of Principal Balance Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium allocated to the Trust Loan is distributable, then the amount of such Non-Retained Yield Maintenance Premium allocated to the Trust Loan will be allocated between both among all such Classes of Non-Retained Regular Principal Balance Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph. Notwithstanding the foregoing, Yield Maintenance Premiums shall be distributed to some or all of the Regular Certificates on any Distribution Date only to the extent such they are received in respect of the Trust Loan and on deposit in the Collection Account as of the related Determination Date.

Allocation and Distribution of Yield Maintenance Premiums. (a) On each Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Loan during the related Collection Period and allocable to the Trust Loan pursuant to the Co-Lender Agreement and remitted by the Servicer pursuant to Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders of each Class of Non-Retained Regular the Principal Balance Certificates shall shall, in the case of each Class thereof, be entitled to receive that portion of such Non-Retained Yield Maintenance Premium equal to the product of (xA) a fraction, the fraction whose numerator of which is the amount of principal distributed to such Class class of Principal Balance Certificates on such Distribution Date and the whose denominator of which is the total amount of principal 161 distributed to all Classes of Principal Balance Certificates on such Distribution Date, (B) the Base Interest Fraction for the related principal prepayment and such Class of Certificates and (C) the amount of such Yield Maintenance Premiums; and (ii) the holders of all the Class X Certificates shall be entitled to receive the excess, if any, of (A) the Non-Retained Regular amount of such Yield Maintenance Premiums, over (B) the amount thereof distributed with respect to the Principal Balance Certificates on such Distribution Date and in accordance with the immediately preceding clause (y) the amount of such Non-Retained Yield Maintenance Premiumi). If both the there is more than one Class D and Class E of Principal Balance Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained such Yield Maintenance Premium is Premiums are distributable, the aggregate amount of such Non-Retained Yield Maintenance Premium will Premiums shall be allocated between both among all such Classes of Non-Retained Regular Principal Balance Certificates up to, and on a pro rata basis in accordance with, with their respective entitlements thereto in accordance with the first sentence of this paragraphclause (a).

Allocation and Distribution of Yield Maintenance Premiums. (a) On each any Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Whole Loan during the related Collection Period and allocable to the Trust Loan pursuant to the Co-Lender Agreement and remitted shall be distributed by the Servicer pursuant to Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount Certificate Administrator to the Holders holders of each Class of Certificates (other than the respective Classes of the Non-Retained Regular Certificates Class R Certificates) in the following manner: (i) the Holders Certificateholders of each Class of Non-Retained Regular Class A, Class B, Class C and Class D Certificates shall be entitled to receive that portion on each Distribution Date, an amount of such Non-Retained Yield Maintenance Premium Premiums for the Trust Loan prepayments, in an amount equal to the product of (x) a fraction, the fraction whose numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the whose denominator of which is the total amount of principal distributed to the holders of all of the Non-Retained Regular Class A, Class B, Class C and Class D Certificates representing principal payments in respect of the Trust Loan on such Distribution Date and Date, (y) the amount Base Interest Fraction for the related principal prepayment and such Class of such Non-Retained Certificates, and (z) the Yield Maintenance PremiumPremiums collected during the related Collection Period and allocable to the Trust Loan, and (ii) any Yield Maintenance Premiums collected during the related Collection Period and allocable to the Trust Loan remaining after such distributions will be distributed to the Class X-A Certificates so long as the Class A Certificates are outstanding (including, if applicable, on the Distribution Date on which the Certificate Balance of the Class A Certificates is reduced to zero). If both the there is more than one Class of Class A, Class B, Class C and Class D and Class E Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium is Premiums are distributable, the aggregate amount of such Non-Retained Yield Maintenance Premium will Premiums shall be allocated between both among all such Classes of Non-Retained Regular Class A, Class B, Class C and Class D Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph.

Allocation and Distribution of Yield Maintenance Premiums. On any Distribution Date, Yield Maintenance Premiums, if any, collected in respect of the Trust Loan prepayments during the related Collection Period shall be distributed by the Certificate Administrator to the Holders of each Class of Certificates in the following manner: (a1) pro rata, between (x) the group (the “YM Group A”) of Class A and Class X-A Certificates, and (y) the group (the “YM Group B” and collectively with the YM Group A, the “YM Groups”) of Class B, Class C, Class D and Class E Certificates, based upon the aggregate amount of principal distributed to the Classes of Sequential Pay Certificates in each YM Group on such Distribution Date, and (2) as among the Classes of Certificates in each YM Group, in the following manner: (A) the Certificateholders of each Class of Sequential Pay Certificates in such YM Group shall be entitled to receive on each Distribution Date an amount of Yield Maintenance Premiums, if any, collected in respect of the Trust Loan prepayments, equal to the product of (i) a fraction whose numerator is the amount of principal distributed to such Class on such Distribution Date and whose denominator is the total amount of principal distributed to all of the Certificates in that YM Group on such Distribution Date, (ii) the Base Interest Fraction for the related principal prepayment and such Class of Sequential Pay Certificates, and (iii) the Yield Maintenance Premiums, as applicable, collected during the related Collection Period and allocated to such YM Group, and (B) any Yield Maintenance Premiums, as applicable, allocated to such YM Group collected during the related Collection Period remaining after such distributions to the Sequential Pay Certificates in such YM Group will be distributed to the Class X Certificates in such YM Group. On each Distribution Date, the Certificate Administrator shall withdraw from the apply amounts related to Yield Maintenance Premiums then on deposit in the Lower-Tier Distribution Account an amount that represents the Non-Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Loan and received during or prior to the related Collection Period and allocable to the Trust Loan Class LA Uncertificated Interest pursuant to the Co-Lender Agreement and remitted by the Servicer pursuant to this Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Retained Yield Maintenance Premium”), and shall distribute such withdrawn amount to the Holders of the respective Classes of the Non-Retained Regular Certificates in the following manner: (i) the Holders of each Class of Non-Retained Regular Certificates shall be entitled to receive that portion of such Non-Retained Yield Maintenance Premium equal to the product of (x) a fraction, the numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the denominator of which is the total amount of principal distributed to the holders of all of the Non-Retained Regular Certificates on such Distribution Date and (y) the amount of such Non-Retained Yield Maintenance Premium. If both the Class D and Class E Certificates are entitled to distributions of principal on any particular Distribution Date on which any Non-Retained Yield Maintenance Premium is distributable, such Non-Retained Yield Maintenance Premium will be allocated between both such Classes of Non-Retained Regular Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraph4.3.

Allocation and Distribution of Yield Maintenance Premiums. (a) On each Distribution Date, the Certificate Administrator shall withdraw from the Yield Maintenance Premiums Distribution Account an amount that represents the Non-Vertically Retained Percentage of any Yield Maintenance Premiums actually collected in respect of the Mortgage Loan during the related Collection Period and allocable to the Trust Loan pursuant to the Co-Lender Agreement and remitted by the Servicer pursuant to Section 3.4(d) (such portion of any Yield Maintenance Premium, a “Non-Vertically Retained Yield Maintenance Premium”) actually collected during the related Collection Period allocable to the Trust Loan and remitted by the Servicer pursuant to Section 3.4(d), and shall distribute such withdrawn amount to the Holders holders of the respective following Classes of the Non-Vertically Retained Regular 153 Certificates in the following manner: (i) the Holders holders of the Class A, Class B, Class C, Class D, Class E, Class F and/or Class G Certificates will, in the case of each Class of Non-Retained Regular Certificates shall thereof, be entitled to receive that portion of such Non-Vertically Retained Yield Maintenance Premium equal to the product of (xA) a fraction, the fraction whose numerator of which is the amount of principal distributed to such Class of Certificates on such Distribution Date and the whose denominator of which is the total amount of principal distributed to the holders of all of the Non-Retained Regular Class A, Class B, Class C, Class D, Class E, Class F and/or Class G Certificates on such Distribution Date Date, (B) the Base Interest Fraction for the related principal prepayment and such Class of Certificates, and (yC) the amount of such Non-Vertically Retained Yield Maintenance Premiums; and (ii) the holders of the Class X Certificates will be entitled to receive the excess, if any, of (a) the amount of such Non-Vertically Retained Yield Maintenance Premium. If both , over (b) the amount thereof distributed with respect to the Class D A, Class B, Class C, Class D, Class E, Class F and Class E G Certificates are entitled to distributions of principal on any particular such Distribution Date on which any Non-Retained Yield Maintenance Premium is distributable, such Non-Retained Yield Maintenance Premium will be allocated between both such Classes of Non-Retained Regular Certificates up to, and on a pro rata basis in accordance with, their respective entitlements thereto in accordance with the first sentence of this paragraphimmediately preceding clause (i).