Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator shall determine the amount, if any, by which (iX)(i) the then-aggregate of the Class Principal Balances of all the Classes of Pooled Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-~~S Regular Interest~~S, Class B ~~Regular Interest~~ and Class C Regular ~~Interest~~Interests, exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date and (Y) with respect to the Trust Subordinate Companion Loan (i) the aggregate Class Principal Balances of the Loan-Specific Certificates after giving effect to distributions of principal on such Distribution Date pursuant to Section 4.01 exceeds (ii) the Stated Principal Balance of such Trust Subordinate Companion Loan (including the assumed Stated Principal Balance if such Trust Subordinate Companion Loan has become an REO Mortgage Loan) expected to be outstanding immediately following such Distribution Date. If such excess does exist, ~~then~~then (A) in the case of the Pooled Principal Balance Certificates, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the Class Principal Balances of the Class G, Class F, Class E and Class D Certificates and the Class C, Class B and Class A-S Regular Interests shall be reduced sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first) or (B) in the case of the Loan-Specific Certificates, the Class Principal Balances of the Class SJ-D, Class SJ-C, Class SJ-B and Class SJ-A Certificates shall be reduced in Sequential Order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (iX)(i) of in the ~~second preceding sentence~~ above paragraph still exceeds the amount described in clause (iiX)(ii) of such ~~sentence~~paragraph, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal Balances, until any such remaining excess is reduced to zero. All reductions in the Class Principal Balances of the respective Classes in the case of clause (X) above of the Pooled Principal Balance Certificates and the Class A-~~S Regular Interest~~S, Class B ~~Regular Interest~~ and Class C Regular ~~Interest~~ Interests, and of the Loan-Specific Certificates in the case of clause (Y) above, in each case under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses. Any reduction in the Class Principal Balance of the Class ~~C Regular Interest~~C, Class B ~~Regular Interest~~ or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a) shall be allocated (i) in the case of the Class C Regular ~~Interest~~Interests, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, ~~respectively~~ respectively, and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C24), Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C25)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Pwr11), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C20), Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Trust 2014-Lc16)

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Pwr5), Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Pwr4)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~if any, by which~~ but only to the extent that (i) the ~~then-~~aggregate Certificate Principal Balance of the ~~Class Principal Balances~~ Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date~~. If such excess does exist~~: first, ~~then~~sequentially, ~~except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class Q, ~~the~~ Class ~~Principal Balances of the~~ P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class AJ and Class ~~A-S Regular Interests shall be reduced sequentially~~AM Certificates, in that order, in each ~~case,~~ case until ~~such excess or~~ the ~~related~~ remaining Class Principal Balance is thereof has been reduced to ~~zero~~ zero; and then, pro rata (~~whichever occurs first)~~based on remaining Class Principal Balances) to the Class A-1, Class X-0, Xxxxx X-0, Class A-SB, Class A-4 and Class A-1A Certificates until the Class Principal Balances thereof are reduced to zero. ~~If, after~~ Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates shall be made by reducing the ~~foregoing reductions,~~ Class Principal Balance thereof by the amount ~~described~~ so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in ~~clause (i)~~ proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates as of the ~~second preceding sentence still exceeds~~ Distribution Date on which the ~~amount described in clause (ii)~~ aggregate Certificate Principal Balance of ~~such sentence~~the Sequential Pay Certificates has been reduced to zero, ~~then, except~~ shall be deemed allocated to the Residual Certificates. If and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portion of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the respective Class Principal Balances of ~~all the outstanding~~ any Classes of Sequential Pay Certificates to which there has been allocated unreimbursed Realized Losses and/or Additional Trust Fund Expenses shall be increased, in the reverse order in which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class A Principal Balance of any such Class of Sequential Pay Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~on a pro rata basis~~ by the amount of the increase in ~~accordance with the relative sizes of~~ such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of Sequential Pay Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance ~~Certificates~~ of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of Sequential Pay Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class shall be decreased by such amount. To the extent the Class C Principal Balance of a Class of Sequential Pay Certificates is increased pursuant to the second paragraph of this Section 4.04(a), the REMIC I Principal Balance (or, if applicable, the aggregate REMIC I Principal Balance) of the Corresponding REMIC I Regular Interest(s) shall also be so increased; provided that, with respect to any Class of Sequential Pay Certificates that has more than one Corresponding REMIC I Regular Interest, the application of such additions to the REMIC I Principal Balances of the Corresponding REMIC I Regular Interests for such Class B shall be made in descending or reverse numeric order based on the last number of their respective alphanumeric designations, in each case up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to the subject Corresponding REMIC I Regular Interest or (for example, with respect to the Class AA-1 Certificates, the application of such additions to the REMIC I Principal Balances of REMIC I Regular Interests XX-0-S 0, XX-0-0, X-X-0-0 and LA-1-4 shall be allocated, first, to REMIC I Regular Interest ~~for~~ LA-1-4 up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to it, second, to REMIC I Regular Interest LA-1-3 up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to it, third, to REMIC I Regular Interest LA-1-2 up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to it, and then, to REMIC I Regular Interest LA-1-1). If the REMIC I Principal Balance of any ~~Distribution Date pursuant~~ REMIC I Regular Interest is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to ~~this Section 4.04(a)~~ be allocated to such REMIC I Regular Interest shall be ~~allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for~~ decreased by such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyamount.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-McP1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-McP1)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~if any, by which~~ but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of the Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class AJ and Class AM Certificates, in that order, in each case until the remaining Class Principal Balance thereof is reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class X-0, Xxxxx X-0, Class A-SB, Class A-4 and Class A-1A Certificates, until the respective Class Principal Balances thereof are reduced to zero. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates as of the Distribution Date on which the aggregate of the Class Principal Balances of the Sequential Pay Certificates has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the ~~Class G~~respective Classes of Sequential Pay Certificates shall be increased, ~~Class F~~in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), ~~Class E and Class D Certificates and~~ by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class C, Principal Balance of any Class B of Sequential Pay Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the Sequential Pay Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance ~~Certificates~~ of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of the Sequential Pay Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Sequential Pay Certificates is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class ~~C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a)~~ shall be ~~allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for~~ decreased by such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyamount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2006-3)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Thru Certs Series 2001-3)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to ~~Certificateholders to~~ be made to the Class V Certificateholders on such date pursuant to Section ~~4.01~~4.01(k), the Trustee shall determine with respect to each CML the amount, if any, by which (i) the sum of (A) the CML Senior Balance of the related CML Senior Component and (B) the Certificate ~~Administrator~~ Principal Balance of the Corresponding Class V Certificates exceeds (ii) the Stated Principal Balance of the Corresponding CML that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to any CML, then the Class Principal Balance of the Corresponding Class V Certificates shall be reduced in reverse sequential order until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Class CM Certificateholders on such date pursuant to Section 4.01(l), the Trustee shall determine with respect to the CM Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the CM Component Mortgage Loan Senior Balance of the related CM Component Mortgage Loan Senior Component and (B) the CM Component Mortgage Loan Subordinate Components exceed (ii) the Stated Principal Balance of the CM Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the CM Component Mortgage Loan, then the Class Principal Balance of the CM Component Mortgage Loan Subordinate Components, beginning with the most subordinate of such components and thereafter in reverse alphabetical order, shall be reduced until such excess or the related Class Principal Balance of all the CM Component Mortgage Loan Subordinate Components are reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Certificateholders on such date pursuant to Section 4.01(b), the Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (less the aggregate of the CML Subordinate Balances of the CMLs and the CM Component Mortgage Loan Subordinate Balance of the CM Component Mortgage Loan) that will be outstanding immediately following such Distribution Date. If such excess does ~~exist, then, except~~ exist and was not allocated to the ~~extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments~~ Class V Certificates or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class CM Certificates, as applicable, as described above, then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E E, Class D, Class C and Class D B Certificates ~~and the Class C, Class B and Class A-S Regular Interests~~ shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, Class A-2 Certificates and Class A-3 Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance Certificates~~ Sequential Pay Certificates, and the Class ~~A-S Regular Interest~~V Certificates or the Class CM Certificates, ~~Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ as applicable, shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mort Pass Through Cert Ser 2002-2)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C16)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2007-Pwr18)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2007-Pwr16)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ the ~~distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates (other than the Class A-~~S, Class B, Class C and Class PEX~~ SBFL Certificates) and the Class A-~~S Regular Interest, Class B~~ SBFL Regular Interest ~~and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, that for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Serviced Loan or a Final Determination has been made with respect to the related Serviced Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class Q, Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class A-J and Class A-~~S Regular Interests~~ M Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, the Class A-2 Certificates, the Class A-3A Certificates, the Class A-3B Certificates, the Class A-SBFL Regular Interest, the Class A-4 Certificates and the Class A-1A Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates and the Class A-~~S Regular Interest, Class B~~ SBFL Regular Interest ~~and Class C Regular Interest under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc. Series 2006-1)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to ~~Certificateholders to~~ be made to the Holders of the Class CP Certificates on such date pursuant to Section ~~4.01~~4.01(k), the ~~Certificate Administrator~~ Trustee shall determine with respect to the CP Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the CP Component Mortgage Loan Senior Balance and (B) the CP Component Mortgage Loan Subordinate Balance exceeds (ii) the Stated Principal Balance of the CP Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the CP Component Mortgage Loan, then the CP Subordinate Mortgage Loan Subordinate Balance shall be reduced until such excess or the CP Subordinate Mortgage Loan Subordinate Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Certificateholders, other than the Holders of Class CP Certificates on such date pursuant to Section 4.01(b) and the allocation of Realized Losses pursuant to the preceding paragraph, the Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (less the CP Component Mortgage Loan Subordinate Balance) that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, that for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Mortgage Loan or a Final Determination has been made with respect to the related Mortgage Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class A-J and Class A-~~S Regular Interests~~ M Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates, the Class A-AB Certificates and the Class A-5 Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates ~~and~~ or the Class ~~A-S Regular Interest~~CP Certificates, ~~Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ as applicable, shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2005-2)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (COBALT CMBS Commercial Mortgage Trust 2007-C2)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2013-C17)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to ~~Section~~ Sections 4.01, the ~~Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate of the Class Principal Balances of all the Classes of Principal Balance ~~Certificates (other than the Class A-S, Class B, Class C and Class PEX~~ Certificates~~) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest~~, exceeds (ii) the aggregate Stated Principal Balance (for purposes of this calculation only, not giving effect to any reductions of the Stated Principal Balance for payments of principal collected on the Mortgage Loans that were used to reimburse any Nonrecoverable Advances and Workout-Delayed Reimbursement Amounts pursuant to Section 3.05(a)(vi), other than Principal Distribution Amounts used to reimburse Nonrecoverable Advances or Workout-Delayed Reimbursement Amounts with respect to Mortgage Loans for which a Final Recovery Determination has been made) of the Mortgage Pool that will be outstanding immediately following such Distribution Date. If such excess does exist, ~~then, except to~~ then the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of the ~~Class G, Class F, Class E and Class D~~ Principal Balance Certificates ~~and the Class C, Class B and Class A-S Regular Interests shall~~ will be reduced sequentially, in ~~that~~ the following order~~, in each case~~, until such excess or is reduced to zero: first, the ~~related~~ Class Principal Balance of the Class Q Certificates, until such Class Principal Balance is reduced to zero; second, the Class Principal Balance of the Class P Certificates, until such Class Principal Balance is reduced to zero; third, the Class Principal Balance of the Class O Certificates, until such Class Principal Balance is reduced to zero; fourth, the Class Principal Balance of the Class N Certificates, until such Class Principal Balance is reduced to zero; fifth, the Class Principal Balance of the Class M Certificates, until such Class Principal Balance is reduced to zero; sixth, the Class Principal Balance of the Class L Certificates, until such Class Principal Balance is reduced to zero; seventh, the Class Principal Balance of the Class K Certificates, until such Class Principal Balance is reduced to zero; eighth, the Class Principal Balance of the Class J Certificates, until such Class Principal Balance is reduced to zero; ninth, the Class Principal Balance of the Class H Certificates, until such Class Principal Balance is reduced to zero; tenth, the Class Principal Balance of the Class G Certificates, until such Class Principal Balance is reduced to zero; eleventh, the Class Principal Balance of the Class F Certificates, until such Class Principal Balance is reduced to zero; twelfth, the Class Principal Balance of the Class E Certificates, until such Class Principal Balance is reduced to zero; thirteenth, the Class Principal Balance of the Class D Certificates, until such Class Principal Balance is reduced to zero; fourteenth, the Class Principal Balance of the Class C Certificates, until such Class Principal Balance is reduced to zero; fifteenth, the Class Principal Balance of the Class B Certificates, until such Class Principal Balance is reduced to zero; sixteenth, the Class Principal Balance of the Class A-J Certificates, until such Class Principal Balance is reduced to zero, seventeenth the Class Principal Balance of the Class A-M Certificates, until such Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)and eighteenth, the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A-1 Certificates, the Class A-2 Certificates, Class A-AB Certificates, Class A-3 Certificates and the Class A-1-A Certificates ~~shall be reduced~~ (on a pro rata basis in accordance with the relative sizes of such Class Principal Balances, until ~~any~~ such ~~remaining excess is~~ Class Principal Balances are reduced to zero. All such reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates ~~and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ shall constitute allocations of Realized Losses and Additional Trust Fund Expenses. Any ~~reduction in the~~ Realized Loss allocated to a Class ~~Principal Balance~~ of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a) shall~~ Certificates will be allocated ~~(i)~~ among respective Certificates of such Class in proportion to the ~~case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C~~ Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyInterests evidenced thereby.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C3)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to ~~Certificateholders to~~ be made to the Class CC Certificateholders on such date pursuant to Section ~~4.01~~4.01(j), the ~~Certificate Administrator~~ Trustee shall determine with respect to the CC Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the CC Component Mortgage Loan Senior Balance and (B) the CC Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the CC Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the CC Component Mortgage Loan, then the CC Component Mortgage Loan Subordinate Balance of the CC Component Mortgage Loan Subordinate Components, beginning with the most subordinate of such components and thereafter in reverse alphabetical order, shall be reduced until such excess or the related CC Component Mortgage Loan Subordinate Balance of all the CC Component Mortgage Loan Subordinate Components are reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Class SS Certificateholders on such date pursuant to Section 4.01(k), the Trustee shall determine with respect to the SS Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the SS Component Mortgage Loan Senior Balance and (B) the SS Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the SS Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the SS Component Mortgage Loan, then the SS Subordinate Mortgage Loan Subordinate Balance of the SS Component Mortgage Loan Subordinate Components, beginning with the most subordinate of such components and thereafter in reverse alphabetical order, shall be reduced until such excess or the related SS Subordinate Mortgage Loan Subordinate Balance of all the SS Component Mortgage Loan Subordinate Components are reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Class UH Certificateholders on such date pursuant to Section 4.01(l), the Trustee shall determine with respect to the UH Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the UH Component Mortgage Loan Senior Balance and (B) the UH Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the UH Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the UH Component Mortgage Loan, then the UH Subordinate Mortgage Loan Subordinate Balance of the UH Component Mortgage Loan Subordinate Components, beginning with the most subordinate of such components and thereafter in reverse alphabetical order, shall be reduced until such excess or the related UH Subordinate Mortgage Loan Subordinate Balance of all the UH Component Mortgage Loan Subordinate Components are reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Regular Certificateholders, other than the Class CC, Class SS and Class UH Certificateholders on such date pursuant to Section 4.01(b) and the allocation of Realized Losses pursuant to the preceding three paragraphs, the Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (less the CC Component Mortgage Loan Subordinate Balance of the CC Component Mortgage Loan, the SS Component Mortgage Loan Subordinate Balance of the SS Component Mortgage Loan and the UH Component Mortgage Loan Subordinate Balance of the UH Component Mortgage Loan) that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, that for purposes of this calculation, any principal collections used to pay Workout-Delayed Reimbursement Amounts shall for purposes of this calculation be deemed to still be outstanding). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E E, Class D, Class C and Class D B Certificates ~~and the Class C, Class B and Class A-S Regular Interests~~ shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, the Class A-5 Certificates and Class A-1A Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance Certificates and~~ Sequential Pay Certificates, the Class ~~A-S Regular Interest~~CC Certificates, the Class ~~B Regular Interest and~~ SS Certificates or the Class ~~C Regular Interest under this Section 4.04(a)~~ UH Certificates, as applicable, shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mort. Pass Thr. Certs SER 2004-3)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Pwr9)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the Certificate Administrator shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~if any, by which~~ but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of the Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class AJ and Class AM Certificates, in that order, in each case until the remaining Class Principal Balance thereof is reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class A-2, Class X-0, Xxxxx X-0X, Class A-SB, Class A-4 and Class A-1A Certificates, until the respective Class Principal Balances thereof are reduced to zero. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates as of the Distribution Date on which the aggregate of the Class Principal Balances of the Sequential Pay Certificates has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the ~~Class G~~respective Classes of Sequential Pay Certificates shall be increased, ~~Class F~~in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), ~~Class E and Class D Certificates and~~ by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class C, Principal Balance of any Class B of Sequential Pay Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the Sequential Pay Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance ~~Certificates~~ of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of the Sequential Pay Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Sequential Pay Certificates is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class shall be decreased by such amount. If the Class ~~C Regular Interest,~~ Principal Balance of any Class ~~B Regular Interest or Class A-S Regular Interest for~~ of Sequential Pay Certificates is reduced on any Distribution Date pursuant to ~~this~~ the first paragraph of Section 4.04(a) ), then the REMIC I Principal Balance of its Corresponding REMIC I Regular Interest shall be ~~allocated (i) in~~ deemed to have first been reduced by the ~~case of~~ exact same amount. To the extent the Class C Principal Balance of a Class of Sequential Pay Certificates is increased pursuant to the second paragraph of Section 4.04(a), the REMIC I Principal Balance of its Corresponding REMIC I Regular ~~Interest, between~~ Interest shall be increased by the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyexact same amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2006-C1)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ the ~~distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates)~~ and the Class ~~A-S Regular Interest, Class B~~ A-2FL Regular Interest and Class C A-MFL Regular ~~Interest,~~ Interest exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Serviced Loan or a Final Determination has been made with respect to the related Serviced Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class GS Certificates, Class FQ Certificates, Class P Certificates, Class O Certificates, Class N Certificates, Class M Certificates, Class L Certificates, Class K Certificates, Class J Certificates, Class H Certificates, Class G Certificates, Class F Certificates, Class E ~~and~~ Certificates, Class D ~~Certificates and the~~ Certificates, Class CC Certificates, Class B Certificates, Class A-J Certificates, Class A-M Certificates, Class A-MF Certificates and Class A-S M Regular ~~Interests~~ Interest shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first); provided that the Class A-M Certificates, Class A-MF Certificates and Class A-M Regular Interest are pro rata. If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, Class A-2 Certificates, Class A-2FL Regular Interest, Class A-3 Certificates, Class A-AB Certificates, Class A-4 Certificates, Class A-5 Certificates and Class A-1A Certificates shall be ~~reduced on a~~ reduced, pro ~~rata basis~~ rata, in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates and the Class ~~A-S Regular Interest, Class B~~ A-2FL Regular Interest and Class C A-MFL Regular Interest ~~under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2007-3)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates (exclusive of the Class A-2FL Certificates and the Class AJ-FL Certificates), ~~if any~~the Class A-2FL REMIC II Regular Interest and the Class AJ-FL REMIC II Regular Interest as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~by which~~ but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of ~~all~~ the ~~Classes of Principal Balance~~ Sequential Pay Certificates (~~other than~~ exclusive of the Class ~~A-S, Class B, Class C and Class PEX Certificates)~~ A-2FL Certificates and the Class AAJ-~~S Regular Interest~~FL Certificates), the Class B A-2FL REMIC II Regular Interest and the Class C AJ-FL REMIC II Regular ~~Interest~~Interest as of such Distribution Date (after taking into account all of the distributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class S, Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class AJ and Class AJ-FL on a pro rata and pari passu basis, and Class AM Certificates, in that order, in each case until the remaining Class Principal Balance thereof is reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class A-2, Class A-3, Class A-SB and Class A-1A Certificates and the Class A-2FL REMIC II Regular Interest until the respective Class Principal Balances thereof are reduced to zero. Any Realized Losses and Additional Trust Fund Expenses allocated to the Class A-2FL REMIC II Regular Interest shall, in turn, be deemed allocated to the Class A-2FL Certificates. Any Realized Losses and Additional Trust Fund Expenses allocated to the Class AJ-FL REMIC II Regular Interest shall, in turn, be deemed allocated to the Class AJ-FL Certificates. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates, the Class A-2FL REMIC II Regular Interest and the Class AJ-FL REMIC II Regular Interest shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and/or the Class AJ-FL REMIC II Regular Interest as of the Distribution Date on which the aggregate of the Class Principal Balances of the Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class AJ-FL REMIC II Regular Interest has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the respective Classes of Sequential Pay Certificates (exclusive of the Class ~~G, Class F, Class E~~ A-2FL and Class D AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and/or the Class AJ-FL REMIC II Regular Interest shall be increased, in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class Principal Balance of any Class of Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class ~~C, Class B~~ AJ-FL REMIC II Regular Interest shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class AAJ-S FL REMIC II Regular ~~Interest~~Interest on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class B Principal Balances of the respective Classes of the Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class C AJ-FL REMIC II Regular Interest ~~under this Section 4.04(a) shall constitute allocations~~ outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of ~~Realized Losses and Additional Trust Fund Expenses~~those Class Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Sequential Pay Certificates, the Class ~~C Regular Interest, Class B~~ A-2FL REMIC II Regular Interest or the Class AAJ-S FL REMIC II Regular Interest ~~for any Distribution Date pursuant~~ is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to ~~this Section 4.04(a)~~ be allocated to such Class shall be ~~allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for~~ decreased by such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyamount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2006-4)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~if any, by which~~ but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of the Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class T, Class S, Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C and Class B Certificates, in that order; then the Class AJ Certificates and Class AJ-A Certificates (on a pro rata and pari passu basis); then the Class AM Certificates and Class AM-A Certificates (on a pro rata and pari passu basis), in each case until the respective Class Principal Balances thereof are reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class A-2, Class A-SB, Class A-0 xxx Xxxxx X-1A Certificates, until the respective Class Principal Balances thereof are reduced to zero. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates as of the Distribution Date on which the aggregate of the Class Principal Balances of the Sequential Pay Certificates has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the ~~Class G~~respective Classes of Sequential Pay Certificates shall be increased, ~~Class F~~in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), ~~Class E and Class D Certificates and~~ by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class C, Principal Balance of any Class B of Sequential Pay Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the Sequential Pay Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance ~~Certificates~~ of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of the Sequential Pay Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Sequential Pay Certificates is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class shall be decreased by such amount. If the Class ~~C Regular Interest,~~ Principal Balance of any Class ~~B Regular Interest or Class A-S Regular Interest for~~ of Sequential Pay Certificates is reduced on any Distribution Date pursuant to ~~this~~ the first paragraph of Section 4.04(a) ), then the REMIC I Principal Balance of its Corresponding REMIC I Regular Interest shall be ~~allocated (i) in~~ deemed to have first been reduced by the ~~case of~~ exact same amount. To the extent the Class C Principal Balance of a Class of Sequential Pay Certificates is increased pursuant to the second paragraph of Section 4.04(a), the REMIC I Principal Balance of its Corresponding REMIC I Regular ~~Interest, between~~ Interest shall be increased by the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyexact same amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2007-8)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to ~~Certificateholders to~~ be made to the Regular Certificateholders on such date pursuant to Section ~~4.01~~4.01(b), the ~~Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date (provided, however, that for purposes of this calculation, any principal collections used to pay Workout-Delayed Reimbursement Amounts shall not reduce the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E E, Class D, Class C and Class D B Certificates ~~and the Class C, Class B and Class A-S Regular Interests~~ shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates and Class A-5 Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates ~~and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Comm Mort Inc Pass Throu Certs Series 2004 2)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (WFRBS Commercial Mortgage Trust 2014-C19)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ prior to the distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Paying Agent shall ~~determine~~ allocate to the ~~amount~~respective Classes of Regular Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-Off Date through the end of the related Collection Period, ~~if any~~and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~by which~~ but only to the extent that (i) the ~~then-~~aggregate Certificate Principal Balance of the ~~Class Principal Balances~~ Regular Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool ~~that will~~ to be outstanding immediately following such Distribution Date~~. If such excess does exist~~: first, ~~then, except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class M, ~~the~~ Class ~~Principal Balances of the~~ L, Class K, Class J, Class H, Class G, Class F, Class E E, Class D, Class C and Class ~~D Certificates and the Class C, Class~~ B ~~and Class A-S Regular Interests shall be reduced sequentially~~Certificates, in that order, ~~in each case,~~ until ~~such excess or~~ the ~~related~~ respective remaining Class Principal Balance is of each such Class has been reduced to zero ~~(whichever occurs first). If~~and second, ~~after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then, except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class A-1, ~~the respective~~ Class ~~Principal Balances of all the outstanding Classes of the~~ A-2 and Class ~~A Certificates shall be reduced on a~~ A-3 Certificates, pro ~~rata basis~~ rata, in accordance with the ~~relative sizes~~ outstanding Certificate Principal Balances of such Classes of Certificates, until the remaining Class Principal ~~Balances, until any~~ Balance of each such ~~remaining excess is~~ Class has been reduced to zero. All reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction in~~ , if any, that have not been allocated to the ~~Class~~ Regular Certificates as of the Distribution Date on which the aggregate Certificate Principal Balance of ~~the Class C Regular Interest~~such Certificates has been reduced to zero, ~~Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a)~~ shall be deemed allocated ~~(i) in~~ to the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyResidual Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass THR Cert Ser 1998-C2)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2006-Pwr14)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Wells Fargo Commercial Mortgage Securities Inc)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Pwr6)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Pwr8)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2005-Pwr10)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to ~~Certificateholders to~~ be made to the Class ES Certificateholders on such date pursuant to Section ~~4.01~~4.01(i), the ~~Certificate Administrator~~ Trustee shall determine with respect to the ES Component Mortgage Loan the amount, if any, by which (i) the ~~then-aggregate~~ sum of (a) the ES Component Mortgage Loan Senior Balance and (B) the ES Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the ES Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the ES Component Mortgage Loan, then the ES Component Mortgage Loan Subordinate Balance of the ES Component Mortgage Loan Subordinate Components, beginning with the most subordinate of such components and thereafter in reverse alphabetical order, shall be reduced until such excess or the related ES Component Mortgage Loan Subordinate Balance of all the ES Component Mortgage Loan Subordinate Components are reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Class SB Certificateholders on such date pursuant to Section 4.01(j), the Trustee shall determine with respect to the SB Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the SB Component Mortgage Loan Senior Balance and (B) the SB Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the SB Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the SB Component Mortgage Loan, then the SB Subordinate Mortgage Loan Subordinate Balance of the SB Component Mortgage Loan Subordinate Components, beginning with the most subordinate of such components and thereafter in reverse alphabetical order, shall be reduced until such excess or the related SB Subordinate Mortgage Loan Subordinate Balance of all the SB Component Mortgage Loan Subordinate Components are reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to the Class WB Certificateholders to be made on such date pursuant to Section 4.01(k), the Trustee shall determine the amount, if any, by which the (i) the Class Principal Balance of the Class ~~Principal Balances of all the Classes of Principal Balance~~ WB Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the ~~aggregate~~ Stated Principal Balance of the ~~Mortgage Pool~~ Wellbridge Note B Loan that will be outstanding immediately following such Distribution Date. If such excess does exist, ~~then~~then the Class Principal Balance of the Class WB-D, ~~except~~ Class WB-C, Class WB-B and Class WB-A Certificates shall be reduced, sequentially in that order until such excess or the related Class Principal Balance is been reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the ~~extent that~~ Regular Certificateholders, other than the Class ES, Class SB and Class WB Certificateholders on such ~~excess exists because~~ date pursuant to Section 4.01(b), the Trustee shall determine the amount, if any, by which (i) the then aggregate Certificate Principal Balance of the ~~reimbursement~~ Sequential Pay Certificates exceeds (ii) the aggregate Stated Principal Balance of ~~Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on~~ the Mortgage Pool ~~pursuant~~ (less the ES Component Mortgage Loan Subordinate Balance of the ES Component Mortgage Loan, the SB Component Mortgage Loan Subordinate Balance of the SB Component Mortgage Loan and the Stated Principal Balance of the Wellbridge Note B Loan) that will be outstanding immediately following such Distribution Date. If such excess does exist and was not allocated to ~~Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in~~ the ~~immediately preceding Collection Period)~~Class ES Certificates and the Class SB Certificates, as applicable and as described above, then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E E, Class D, Class C and Class D B Certificates ~~and the Class C, Class B and Class A-S Regular Interests~~ shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates and Class A-2 Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance Certificates and~~ Sequential Pay Certificates, the Class ~~A-S Regular Interest~~ES Certificates, the Class ~~B Regular Interest and~~ SB Certificates or the Class ~~C Regular Interest under this Section 4.04(a)~~ WB Certificates, as applicable, shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Commercial Mortgage Pass Through Certificates Series 2003-1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (First Union Commercial Mortgage Securities Inc)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates (exclusive of the Class A-2FL Certificates and the Class AJ-FL Certificates), ~~if any~~the Class A-2FL REMIC II Regular Interest and the Class AJ-FL REMIC II Regular Interest as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~by which~~ but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of ~~all~~ the ~~Classes of Principal Balance~~ Sequential Pay Certificates (~~other than~~ exclusive of the Class ~~A-S, Class B, Class C and Class PEX Certificates)~~ A-2FL Certificates and the Class AAJ-~~S Regular Interest~~FL Certificates), the Class B A-2FL REMIC II Regular Interest and the Class C AJ-FL REMIC II Regular ~~Interest~~Interest as of such Distribution Date (after taking into account all of the distributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, Class C, Class B, Class AJ and Class AJ-FL on a pro rata and pari passu basis, and Class AM Certificates, in that order, in each case until the remaining Class Principal Balance thereof is reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class A-2, Class A-3, Class A-4 and Class A-1A Certificates and the Class A-2FL REMIC II Regular Interest until the respective Class Principal Balances thereof are reduced to zero. Any Realized Losses and Additional Trust Fund Expenses allocated to the Class A-2FL REMIC II Regular Interest shall, in turn, be deemed allocated to the Class A-2FL Certificates. Any Realized Losses and Additional Trust Fund Expenses allocated to the Class AJ-FL REMIC II Regular Interest shall, in turn, be deemed allocated to the Class AJ-FL Certificates. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates, the Class A-2FL REMIC II Regular Interest and the Class AJ-FL REMIC II Regular Interest shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and/or the Class AJ-FL REMIC II Regular Interest as of the Distribution Date on which the aggregate of the Class Principal Balances of the Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class AJ-FL REMIC II Regular Interest has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the respective Classes of Sequential Pay Certificates (exclusive of the Class ~~G, Class F, Class E~~ A-2FL and Class D AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and/or the Class AJ-FL REMIC II Regular Interest shall be increased, in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class Principal Balance of any Class of Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class ~~C, Class B~~ AJ-FL REMIC II Regular Interest shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class AAJ-S FL REMIC II Regular ~~Interest~~Interest on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class B Principal Balances of the respective Classes of the Sequential Pay Certificates (exclusive of the Class A-2FL and Class AJ-FL Certificates), the Class A-2FL REMIC II Regular Interest and the Class C AJ-FL REMIC II Regular Interest ~~under this Section 4.04(a) shall constitute allocations~~ outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of ~~Realized Losses and Additional Trust Fund Expenses~~those Class Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Sequential Pay Certificates, the Class ~~C Regular Interest, Class B~~ A-2FL REMIC II Regular Interest or the Class AAJ-S FL REMIC II Regular Interest ~~for any Distribution Date pursuant~~ is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to ~~this Section 4.04(a)~~ be allocated to such Class shall be ~~allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for~~ decreased by such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyamount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2007-6)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ the ~~distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates)~~ and the Class A-~~S Regular Interest, Class B~~ MFL Regular Interest ~~and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Loan or a Final Determination has been made with respect to the related Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class GQ Certificates, the Class FP Certificates, the Class O Certificates, the Class N Certificates, the Class M Certificates, the Class L Certificates, the Class K Certificates, the Class J Certificates, the Class H Certificates, the Class G Certificates, the Class F Certificates, the Class E ~~and~~ Certificates, the Class D Certificates, the Class C Certificates, the Class B Certificates, the Class A-J Certificates, the Class A-MFX Certificates and the Class ~~C, Class B and Class~~ A-S MFL Regular ~~Interests~~ Interest shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1, Class A-2, Class A-3, Class A-AB, Class A-4 and Class A-1A Certificates shall ~~be reduced on a pro~~ xx xxxxxxx, xro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates and the Class A-~~S Regular Interest, Class B~~ MFL Regular Interest ~~and Class C Regular Interest under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2007-1)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ prior to the distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Paying Agent shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-Off Date through the end of the related Collection Period, ~~if any~~and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~by which~~ but only to the extent that (i) the ~~then-~~aggregate Certificate Principal Balance of the ~~Class Principal Balances~~ Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool ~~that will~~ to be outstanding immediately following such Distribution Date~~. If such excess does exist~~: first, ~~then, except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class K, ~~the~~ Class ~~Principal Balances of the~~ J, Class H, Class G, Class F, Class E E, Class D, Class C and Class ~~D Certificates and the Class C, Class~~ B ~~and Class A-S Regular Interests shall be reduced sequentially~~Certificates, in that order, ~~in each case,~~ until ~~such excess or~~ the ~~related~~ respective remaining Class Principal Balance is of each such Class has been reduced to zero ~~(whichever occurs first). If~~and second, ~~after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then, except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class A-1, ~~the respective~~ Class ~~Principal Balances of all the outstanding Classes of the~~ A-2 and Class ~~A Certificates shall be reduced on a~~ A-3 Certificates, pro ~~rata basis~~ rata, in accordance with the ~~relative sizes~~ outstanding Certificate Principal Balances of such Classes of Certificates, until the remaining Class Principal ~~Balances, until any~~ Balance of each such ~~remaining excess is~~ Class has been reduced to zero~~. All reductions~~ ; provided that in the event any Realized Losses otherwise allocable to the Class ~~Principal Balances~~ A-1, Class A-2 and Class A-3 Certificates occurs with respect to a Discount Mortgage Loan, an amount equal to the product of ~~the respective Classes of the Principal Balance Certificates and~~ the Class A-~~S Regular Interest~~PO Fraction for such Discount Mortgage Loan and the amount of such Realized Loss shall be allocated to the Class A-PO Certificates and the remainder shall be allocated pro rata to the Class A-1, Class ~~B Regular Interest~~ A-2 and Class ~~C Regular Interest under this Section 4.04(a) shall constitute allocations of~~ A-3 Certificates and any Additional Trust Fund Expenses will be allocated to the Class A-1, Class A-2, Class A-3 and Class A-PO Certificates pro rata in proportion to their outstanding Class Principal Balances. All Realized Losses and Additional Trust Fund Expenses~~. Any reduction in~~ , if any, that have not been allocated to the ~~Class~~ Sequential Pay Certificates as of the Distribution Date on which the aggregate Certificate Principal Balance of ~~the Class C Regular Interest~~such Certificates has been reduced to zero, ~~Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a)~~ shall be allocated ~~(i) in~~ to the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyResidual Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date~~, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01~~, the Certificate Administrator shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Serviced Loan or a Final Determination has been made with respect to the related Serviced Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class S, Class Q, Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class A-J and Class A-~~S Regular Interests~~ M Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1, Class A-2, Class A-3, Class A-SB, Class A-4 and Class A-1A Certificates shall ~~be reduced on a pro rata basis~~ xx xxxxxxx, xro rata, in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates ~~and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2007-5)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ the ~~distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, that for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Loan or a Final Determination has been made with respect to the related Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class A-J and Class A-~~S Regular Interests~~ M Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1, Class A-2, Class A-3, Class A-SB, Class A-4 and Class A-1A Certificates shall ~~be reduced on a pro~~ xx xxxxxxx, xro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates ~~and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2006-6)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following the distributions to ~~Certificateholders to~~ be made to the Class FM Certificateholders on such date pursuant to Section ~~4.01~~4.01(j), the ~~Certificate Administrator~~ Trustee shall determine with respect to the FM Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the FM Component Mortgage Loan Senior Balance and (B) the FM Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the FM Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the FM Component Mortgage Loan, then the FM Subordinate Mortgage Loan Subordinate Balance shall be reduced until such excess or the FM Subordinate Mortgage Loan Subordinate Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Class SM Certificateholders on such date pursuant to Section 4.01(k), the Trustee shall determine with respect to the SM Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the SM Component Mortgage Loan Senior Balance and (B) the SM Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the SM Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the SM Component Mortgage Loan, then the SM Subordinate Mortgage Loan Subordinate Balance shall be reduced until such excess or the SM Subordinate Mortgage Loan Subordinate Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Class LM Certificateholders on such date pursuant to Section 4.01(l), the Trustee shall determine with respect to the LM Component Mortgage Loan the amount, if any, by which (i) the sum of (A) the LM Component Mortgage Loan Senior Balance and (B) the LM Component Mortgage Loan Subordinate Balance exceed (ii) the Stated Principal Balance of the LM Component Mortgage Loan that will be outstanding immediately following such Distribution Date. If such excess does exist with respect to the LM Component Mortgage Loan, then the LM Subordinate Mortgage Loan Subordinate Balance shall be reduced until such excess or the LM Subordinate Mortgage Loan Subordinate Balance is reduced to zero (whichever occurs first). On each Distribution Date, following the distributions to be made to the Regular Certificateholders, other than the Class FM, Class SM and Class LM Certificateholders on such date pursuant to Section 4.01(b) and the allocation of Realized Losses pursuant to the preceding three paragraphs, the Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool (less the FM Component Mortgage Loan Subordinate Balance of the FM Component Mortgage Loan, the SM Component Mortgage Loan Subordinate Balance of the SM Component Mortgage Loan and the LM Component Mortgage Loan Subordinate Balance of the LM Component Mortgage Loan) that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, that for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Mortgage Loan or a Final Determination has been made with respect to the related Mortgage Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B and Class A-~~S Regular Interests~~ J Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1 Certificates, the Class A-2 Certificates, the Class A-3 Certificates, the Class A-4 Certificates, the Class A-SB Certificates, the Class A-5 Certificates and Class A-1A Certificates shall be ~~reduced on a~~ reduced, pro rata ~~basis~~ in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance Certificates and~~ Sequential Pay Certificates, the Class ~~A-S Regular Interest~~FM Certificates, the Class ~~B Regular Interest and~~ SM Certificates or the Class ~~C Regular Interest under this Section 4.04(a)~~ LM Certificates, as applicable, shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2005-1)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ prior to the distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Paying Agent shall ~~determine~~ allocate to the ~~amount~~respective Classes of Regular Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-Off Date through the end of the related Collection Period, ~~if any~~and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~by which~~ but only to the extent that (i) the ~~then-~~aggregate Certificate Principal Balance of the ~~Class Principal Balances~~ Regular Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool ~~that will~~ to be outstanding immediately following such Distribution Date~~. If such excess does exist~~: first, ~~then, except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class K, ~~the~~ Class ~~Principal Balances of the~~ J, Class H, Class G, Class F, Class E E, Class D, Class C and Class ~~D Certificates and the Class C, Class~~ B ~~and Class A-S Regular Interests shall be reduced sequentially~~Certificates, in that order, ~~in each case,~~ until ~~such excess or~~ the ~~related~~ respective remaining Class Principal Balance is of each such Class has been reduced to zero ~~(whichever occurs first). If~~and second, ~~after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then, except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class A-1, ~~the respective~~ Class ~~Principal Balances of all the outstanding Classes of the~~ A-2 and Class ~~A Certificates shall be reduced on a~~ A-3 Certificates, pro ~~rata basis~~ rata, in accordance with the ~~relative sizes~~ outstanding Certificate Principal Balances of such Classes of Certificates, until the remaining Class Principal ~~Balances, until any~~ Balance of each such ~~remaining excess is~~ Class has been reduced to zero. All reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction in~~ , if any, that have not been allocated to the ~~Class~~ Regular Certificates as of the Distribution Date on which the aggregate Certificate Principal Balance of ~~the Class C Regular Interest~~such Certificates has been reduced to zero, ~~Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a)~~ shall be deemed allocated ~~(i) in~~ to the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyResidual Certificates.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Mortgage Pass Through Cert Series 1998-C3)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~if any, by which~~ but only to the extent that (i) the ~~then-~~aggregate Certificate Principal Balance of the ~~Class Principal Balances~~ Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date~~. If such excess does exist~~: first, ~~then~~sequentially, ~~except~~ to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period)Class Q, ~~the~~ Class ~~Principal Balances of the~~ P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class AJ and Class ~~A-S Regular Interests shall be reduced sequentially~~AM Certificates, in that order, in each ~~case,~~ case until ~~such excess or~~ the ~~related~~ remaining Class Principal Balance is thereof has been reduced to ~~zero~~ zero; and then, pro rata (~~whichever occurs first)~~based on remaining Class Principal Balances) to the Class A-1, Class A-2, Class A-3A, Class A-3B, Class A-SB and Class A-4 Certificates until the Class Principal Balances thereof are reduced to zero. ~~If, after~~ Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates shall be made by reducing the ~~foregoing reductions,~~ Class Principal Balance thereof by the amount ~~described~~ so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in ~~clause (i)~~ proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates as of the ~~second preceding sentence still exceeds~~ Distribution Date on which the ~~amount described in clause (ii)~~ aggregate Certificate Principal Balance of ~~such sentence~~the Sequential Pay Certificates has been reduced to zero, ~~then, except~~ shall be deemed allocated to the Residual Certificates. If and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portion of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the respective Class Principal Balances of ~~all the outstanding~~ any Classes of Sequential Pay Certificates to which there has been allocated unreimbursed Realized Losses and/or Additional Trust Fund Expenses shall be increased, in the reverse order in which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class A Principal Balance of any such Class of Sequential Pay Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~on a pro rata basis~~ by the amount of the increase in ~~accordance with the relative sizes of~~ such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of Sequential Pay Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance ~~Certificates~~ of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of Sequential Pay Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class shall be decreased by such amount. To the extent the Class C Principal Balance of a Class of Sequential Pay Certificates is increased pursuant to the second paragraph of this Section 4.04(a), the REMIC I Principal Balance (or, if applicable, the aggregate REMIC I Principal Balance) of the Corresponding REMIC I Regular Interest(s) shall also be so increased; [provided that, with respect to any Class of Sequential Pay Certificates that has more than one Corresponding REMIC I Regular Interest, the application of such additions to the REMIC I Principal Balances of the Corresponding REMIC I Regular Interests for such Class B shall be made in descending or reverse numeric order based on the last number of their respective alphanumeric designations, in each case up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to the subject Corresponding REMIC I Regular Interest or (for example, with respect to the Class AA-1 Certificates, the application of such additions to the REMIC I Principal Balances of REMIC I Regular Interests LA-1-S 1, LA-1-2, L-A-1-3 and LA-1-4 shall be allocated, first, to REXXX X Xxxxxxx Xxxxxxxx LA-1-4 up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to it, second, to REMIC I Regular Interest ~~for~~ LA-1-3 up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to it, third, to REMIC I Regular Interest LA-1-2 up to the amount of the unreimbursed Realized Losses and/or Additional Trust Fund Expenses previously allocated to it, and then, to REMIC I Regular Interest LA-1-1)]. If the REMIC I Principal Balance of any ~~Distribution Date pursuant~~ REMIC I Regular Interest is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to ~~this Section 4.04(a)~~ be allocated to such REMIC I Regular Interest shall be ~~allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for~~ decreased by such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyamount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date~~, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01~~, the Certificate Administrator shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the ~~Class Principal Balances of all the Classes of Principal Balance~~ Sequential Pay Certificates ~~(other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest,~~ exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Serviced Loan or a Final Determination has been made with respect to the related Serviced Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class S, Class Q, Class P, Class O, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class ~~E and~~ E, Class ~~D Certificates and the~~ D, Class C, Class B B, Class A-J, Class A-M and Class A-~~S Regular Interests~~ SM Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A A-1, Class A-2, Class A-3, Class A-4A, Class A-4B, Class A-4BF and Class A-1A Certificates ~~shall be reduced on a pro rata basis in accordance with~~ shaxx xx xxxxxxx, xxx xxxx, xx xxxxxxxxxx xith the relative sizes of the then outstanding Class Principal Balances of such Classes of Certificates, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates ~~and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2008-Ls1)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, ~~following~~ the ~~distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator~~ Trustee shall determine the amount, if any, by which (i) the ~~then-~~then aggregate Certificate Principal Balance of the Sequential Pay Certificates and the Class ~~Principal Balances of all the Classes of Principal Balance Certificates (other than the~~ A-2FL and Class A-~~S, Class B, Class C and Class PEX Certificates) and the Class A-S~~ JFL Regular ~~Interest, Class B Regular Interest and Class C Regular Interest,~~ Interests exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution ~~Date~~Date (provided, however, for purposes of this calculation, any Workout-Delayed Reimbursement Amounts paid from principal collections on the Mortgage Pool shall for purposes of this calculation be deemed to still be outstanding unless the related Unliquidated Advance has been determined to be a Nonrecoverable Advance on the related Serviced Loan or a Final Determination has been made with respect to the related Serviced Loan or the related Mortgage Loan or REO Property is otherwise liquidated or disposed). If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the Class Principal Balances of the Class GS Certificates, Class FQ Certificates, Class P Certificates, Class O Certificates, Class N Certificates, Class M Certificates, Class L Certificates, Class K Certificates, Class J Certificates, Class H Certificates, Class G Certificates, Class F Certificates, Class E ~~and~~ Certificates, Class D ~~Certificates and the~~ Certificates, Class CC Certificates, Class B Certificates, Class A-J Certificates, Class A-JFL Regular Interest and Class A-~~S Regular Interests~~ M Certificates shall be reduced sequentially, in that ~~order,~~ order in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first); provided that the Class A-J Certificates and Class A-JFL Regular Interest are pro rata. If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of ~~such~~ the second preceding sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), then the respective Class Principal Balances of ~~all the outstanding Classes of~~ the Class A-1 Certificates, Class A-2 Certificates, Class A -2FL Regular Interest, Class A-3 Certificates, Class A-AB Certificates, Class A-4 Certificates and Class A-1A Certificates shall be ~~reduced on a~~ reduced, pro ~~rata basis~~ rata, in accordance with the relative sizes of the then outstanding Class Principal Balances of such Classes, until such excess or each such Class Principal ~~Balances, until any such remaining excess~~ Balance is reduced to ~~zero~~zero (whichever occurs first). ~~All~~ Such reductions in the Class Principal Balances of the respective Classes of the ~~Principal Balance~~ Sequential Pay Certificates and the Class A-2FL and Class A-S JFL Regular ~~Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a)~~ Interests shall ~~constitute~~ be deemed to be allocations of Realized Losses and Additional Trust Fund Expenses~~. Any reduction~~ , to the extent not covered by reductions in ~~the Class Principal Balance~~ distributions of ~~the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date~~ interest pursuant to ~~this~~ the allocations set forth in Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively4.01(b).

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Commercial Mortgage Inc., Series 2007-2)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the Certificate Administrator shall ~~determine~~ allocate to the ~~amount~~respective Classes of Principal Balance Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period or Underlying Collection Period, ~~if any~~as applicable, ~~by which~~ and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates as of such Distribution Date (~~other than~~ after taking into account all of the ~~Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest~~distributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class T Certificates, the Class S Certificates, the Class Q Certificates, the Class P Certificates, the Class N Certificates, the Class M Certificates, the Class L Certificates, the Class K Certificates, the Class J Certificates, the Class H Certificates, the Class G Certificates, the Class F Certificates, the Class E Certificates, the Class D Certificates, the Class C Certificates and the Class B Certificates, in that order, in each case until the remaining Class Principal Balance thereof is reduced to zero; second, pro rata (based on remaining Class Principal Balances) to the Class AM, Class AM-A and Class AM-AF Certificates, until the respective Class Principal Balances thereof are reduced to zero; third, pro rata (based on remaining Class Principal Balances) to the Class AJ, Class AJ-A and Class XX-XX Certificates, until the respective Class Principal Balances thereof are reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class X-0, Xxxxx X-0, Class A-SB, Class A-4, Class A-1A and Class A-1AF Certificates, until the respective Class Principal Balances thereof are reduced to zero. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Principal Balance Certificates shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Principal Balance Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Principal Balance Certificates as of the Distribution Date on which the aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the ~~Class G~~respective Classes of Principal Balance Certificates shall be increased, ~~Class F~~in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), ~~Class E and Class D Certificates and~~ by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class C, Principal Balance of a Class B of Principal Balance Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the Principal Balance Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of the Principal Balance Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Principal Balance Certificates is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class ~~C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a)~~ shall be ~~allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for~~ decreased by such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyamount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MLMT 2008-C1)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2004-Pwr3)

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)

Allocation of Realized Losses and Additional Trust Fund Expenses. (a) On each Distribution Date, following ~~the~~ all distributions ~~to Certificateholders~~ to be made on such date pursuant to Section 4.01, the ~~Certificate Administrator~~ Trustee shall ~~determine~~ allocate to the ~~amount~~respective Classes of Sequential Pay Certificates as follows the aggregate of all Realized Losses and Additional Trust Fund Expenses that were incurred at any time following the Cut-off Date through the end of the related Collection Period and in any event that were not previously allocated pursuant to this Section 4.04(a) on any prior Distribution Date, ~~if any, by which~~ but only to the extent that (i) the ~~then-~~aggregate of the Class Principal Balances of the Sequential Pay Certificates as of such Distribution Date (after taking into account all of the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interestdistributions made on such Distribution Date pursuant to Section 4.01), exceeds (ii) the aggregate Stated Principal Balance of of, and any Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date: first, sequentially, to the Class Q, Class P, Class N, Class M, Class L, Class K, Class J, Class H, Class G, Class F, Class E, Class D, the Class C, Class B, Class AJ and Class AM Certificates, in that order, in each case until the remaining Class Principal Balance thereof is reduced to zero; and then, pro rata (based on remaining Class Principal Balances) to the Class A-1, Class X-0, Xxxxx X-0, Class A-SB, Class A-4 and Class A-1A Certificates, until the respective Class Principal Balances thereof are reduced to zero. Any allocation of Realized Losses and Additional Trust Fund Expenses to a Class of Sequential Pay Certificates shall be made by reducing the Class Principal Balance thereof by the amount so allocated. All Realized Losses and Additional Trust Fund Expenses, if any, allocated to a Class of Sequential Pay Certificates shall be allocated among the respective Certificates of such Class in proportion to the Percentage Interests evidenced thereby. All Realized Losses and Additional Trust Fund Expenses, if any, that have not been allocated to the Sequential Pay Certificates as of the Distribution Date on which the aggregate of the Class Principal Balances of the Sequential Pay Certificates has been reduced to zero, shall be deemed allocated to the Residual Certificates. If ~~such excess does exist, then, except~~ and to the extent any Nonrecoverable Advances (and/or interest thereon) that ~~such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (~~were reimbursed from ~~the~~ principal ~~portions of P&I Advances and/or payments or other~~ collections ~~of principal~~ on the Mortgage Pool ~~pursuant to Section 3.05(a)(II)(iii)) during any prior~~ and previously resulted in a reduction of the Principal Distribution Amount are subsequently recovered on the related Trust Mortgage Loan or Trust REO Loan, then, on the Distribution Date immediately following the Collection Period ~~(other than those that were determined to constitute Nonrecoverable Advances~~ in ~~the immediately preceding Collection Period)~~which such recovery occurs, the Class Principal Balances of the ~~Class G~~respective Classes of Sequential Pay Certificates shall be increased, ~~Class F~~in the reverse order from which Realized Losses and Additional Trust Fund Expenses are allocated pursuant to Section 4.04(a), ~~Class E and Class D Certificates and~~ by the amount of any such recoveries that are included in the Principal Distribution Amount for the current Distribution Date; provided, however, that, in any case, the Class C, Principal Balance of any Class B of Sequential Pay Certificates shall in no event be increased by more than the amount of unreimbursed Realized Losses and ~~Class A-S Regular Interests~~ Additional Trust Fund Expenses previously allocated thereto (which unreimbursed Realized Losses and Additional Trust Fund Expenses shall be reduced ~~sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions,~~ by the amount ~~described in clause (i)~~ of the ~~second preceding sentence still exceeds the amount described~~ increase in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal ~~Balances~~Balance); and provided, ~~until any such remaining excess is reduced to zero. All reductions~~ further, that the aggregate increase in the Class Principal Balances of the respective Classes of the Sequential Pay Certificates on any Distribution Date shall not exceed the excess, if any, of (1) the aggregate Stated Principal Balance ~~Certificates~~ of, and all Unliquidated Advances with respect to, the Mortgage Pool that will be outstanding immediately following such Distribution Date, over (2) the aggregate of the Class ~~A-S Regular Interest~~Principal Balances of the respective Classes of the Sequential Pay Certificates outstanding immediately following the distributions to be made on such Distribution Date, but prior to any such increase in any of those Class ~~B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses~~Principal Balances. ~~Any reduction in~~ If the Class Principal Balance of any Class of Sequential Pay Certificates is so increased, the amount of unreimbursed Realized Losses and/or Additional Trust Fund Expenses considered to be allocated to such Class shall be decreased by such amount. If the Class ~~C Regular Interest,~~ Principal Balance of any Class ~~B Regular Interest or Class A-S Regular Interest for~~ of Sequential Pay Certificates is reduced on any Distribution Date pursuant to ~~this~~ the first paragraph of Section 4.04(a) ), then the REMIC I Principal Balance of its Corresponding REMIC I Regular Interest shall be ~~allocated (i) in~~ deemed to have first been reduced by the ~~case of~~ exact same amount. To the extent the Class C Principal Balance of a Class of Sequential Pay Certificates is increased pursuant to the second paragraph of Section 4.04(a), the REMIC I Principal Balance of its Corresponding REMIC I Regular ~~Interest, between~~ Interest shall be increased by the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectivelyexact same amount.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2006-2)

Common use of Allocation of Realized Losses and Additional Trust Fund Expenses Clause in Contracts