Common use of Certain Adjustments to the Principal Distributions on the Certificates Clause in Contracts

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;

Appears in 7 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C7), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C7), Pooling and Servicing Agreement (LB Commercial Mortgage Trust 2007-C3)

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Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon)) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; fourth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; and fifth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in the Collection Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 6 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Cki1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Trust 2005-McP1), Pooling and Servicing Agreement (MLCFC Commercial Mortgage Trust Series 2006-1)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial a Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account Collection Accounts that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon)) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account Collection Accounts that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Accounts that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; fourth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Accounts that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; and fifth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in the Collection Accounts that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 4 contracts

Samples: Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2007-6), Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2006-3), Pooling and Servicing Agreement (ML-CFC Commercial Mortgage Trust 2006-4)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) ), subject to Section 1.03(e), each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C3), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) ), subject to Section 1.03(e), each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp Ii), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C7)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Loan Group that does not include the Trust Mortgage Loans Loan or REO Trust Mortgage Loans Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; third, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; fourth, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and fifth, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C5), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C5)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; third, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; fourth, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; and fifth, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2006-C7), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2007-C2)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madePool, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments or other and/or collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madePool, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and third, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8), Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2004-C8)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If If, in accordance with the provisions of this Agreement, any party hereto is reimbursed out of general collections (but solely principal collections with respect to Workout-Delayed Reimbursement Amounts) on the Mortgage Pool on deposit in the Pool Custodial Collection Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance or any Workout-Delayed Reimbursement Amount (in each case, together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Paymentsthereon), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amountsPool that, but for their application to reimburse such a Nonrecoverable Advance (or Workout-Delayed Reimbursement Amount, as applicable, and/or to pay interest thereon), would be included in the Available Distribution Amount for the related any subsequent Distribution Date; second, out of any amounts (but solely principal collections with respect to Workout-Delayed Reimbursement Amounts) then on deposit in the Pool Custodial Collection Account that represent any other payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amountsPool that, but for their application to reimburse such a Nonrecoverable Advance (or Workout-Delayed Reimbursement Amount, as applicable, and/or to pay interest thereon), would be included in the Available Distribution Amount for the related any subsequent Distribution Date;; and third, out of any other amounts (but solely principal collections with respect to Workout-Delayed Reimbursement Amounts) then on deposit in the Collection Account that may be available to reimburse the subject Nonrecoverable Advance or Workout-Delayed Reimbursement Amount, as applicable, and/or to pay interest thereon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C2), Pooling and Servicing Agreement (Credit Suisse Commercial Mortgage Trust Series 2006-C3)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) ), subject to Section 1.03(e), each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madePool, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments or other and/or collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madePool, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and third, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C1), Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C1)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or in respect of which such Workout-Delayed Reimbursement Amounts is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon)) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Collection Account that (i) represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that includes the Mortgage Loan or REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; fourth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; and fifth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in the Collection Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Inc Trust 2004-Mkb1)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) ), subject to Section 1.03(e), each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; third, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; fourth, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; and fifth, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Lb-Ubs Commercial Mortgage Trust 2006-C4)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance Advances that has have been or is are determined to be a Nonrecoverable Advance Advances (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value PaymentsReceived by the Trust on the Mortgage Pool), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amountsPool that, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amountsPool that, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and third, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb Ubs Com Mort Tr 2003-C8)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If If, in accordance with the provisions of this Agreement, any party hereto is reimbursed out of general collections (but solely collections of principal with respect to Workout-Delayed Reimbursement Amounts unless it has been determined in accordance with this Agreement that such Workout-Delayed Reimbursement Amounts are Nonrecoverable Advances) on the Mortgage Pool on deposit in the Pool Custodial Collection Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance or any Workout-Delayed Reimbursement Amount (in each case, together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Paymentsthereon), then (for purposes of calculating distributions on the Certificates) each such reimbursement and and/or such payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Collection Account that represent representing payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust to which such Mortgage Loan or REO Trust Mortgage Loan in respect of which such generating the Nonrecoverable Advance was made, and which amountsor Workout-Delayed Reimbursement Amount belongs that, but for their application to reimburse such a Nonrecoverable Advance (or Workout-Delayed Reimbursement Amount, as applicable, and/or to pay interest thereon), would be included in the Available Distribution Amount for the related any subsequent Distribution Date; second, out of any amounts then on deposit (but solely collections of principal with respect to Workout-Delayed Reimbursement Amounts unless it has been determined in the Pool Custodial Account accordance with this Agreement that represent such Workout-Delayed Reimbursement Amounts are Nonrecoverable Advances) representing payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust to which such Mortgage Loan or REO Trust Mortgage Loan in respect of which such generating the Nonrecoverable Advance was made, and which amountsor Workout-Delayed Reimbursement Amount belongs that, but for their application to reimburse such a Nonrecoverable Advance (or Workout-Delayed Reimbursement Amount, as applicable, and/or to pay interest thereon), would be included in the Available Distribution Amount for the related any subsequent Distribution Date;; and third, out of any other amounts (but solely collections of principal with respect to Workout-Delayed Reimbursement Amounts unless it has been determined in accordance with this Agreement that such Workout-Delayed Reimbursement Amounts are Nonrecoverable Advances) representing payments or other collections of principal received by the Trust with respect to the Loan Group to which such Mortgage Loan generating the Nonrecoverable Advance or Workout-Delayed Reimbursement Amount belongs that may be available in the Collection Account to reimburse the subject Nonrecoverable Advance or Workout-Delayed Reimbursement Amount, as applicable, and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is (i) reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments)) or (ii) paid any Workout Fee or Liquidation Fee with respect to a collection of principal out of general collections on the Mortgage Pool on deposit in the Custodial Account, then (for purposes of calculating distributions on the Certificates) each such reimbursement reimbursement, payment of interest and payment of interest such portion of such fees shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which (i) such Nonrecoverable Advance was mademade or (ii) such Workout Fee or Liquidation Fee was paid with respect to a collection of principal, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which (i) such Nonrecoverable Advance was mademade or (ii) such Workout Fee or Liquidation Fee was paid with respect to a collection of principal, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; third, out of any amounts then on deposit in the Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Mortgage Loans or REO Mortgage Loans in the Loan Group that includes the Mortgage Loan or REO Mortgage Loan in respect of which (i) such Nonrecoverable Advance was made or (ii) such Workout Fee or Liquidation Fee was paid with respect to a collection of principal, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; fourth, out of any amounts then on deposit in the Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Mortgage Loans or REO Mortgage Loans in the Loan Group that does not include the Mortgage Loan or REO Mortgage Loan in respect of which (i) such Nonrecoverable Advance was made or (ii) such Workout Fee or Liquidation Fee was paid with respect to a collection of principal, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; and fifth, out of any other amounts then on deposit in the Custodial Account that may be available to (i) reimburse the subject Nonrecoverable Advance and/or to pay interest thereon (ii) or pay the subject Workout Fee or Liquidation Fee with respect to a collection of principal, as applicable.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (TIAA Seasoned Commercial Mortgage Trust 2007-C4)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Loans, in the Loan Group that includes the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Account that represent any other payments or other collections of principal received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans, in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; secondfourth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Pool Custodial Collection Account that represent any other payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and fifth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in the Collection Account.

Appears in 1 contract

Samples: Sub Servicing Agreement (Merrill Lynch Mortgage Trust 2005-Lc1)

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Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madeLoans, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments or other and/or collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madeLoans, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and third, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2008-C1)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) ), subject to Section 1.03(e), each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Loan Group that does not include the Trust Mortgage Loans Loan or REO Trust Mortgage Loans Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; third, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; fourth, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments and/or collections Received by the Trust with respect to the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and fifth, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Securities Corp Ii)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial applicable Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial such Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon)) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial such Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in such Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; fourth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in such Collection Account that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; and fifth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in such Collection Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

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

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;

Appears in 1 contract

Samples: Pooling and Servicing Agreement (LB-UBS Commercial Mortgage Trust 2005-C1)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial a Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account Collection Accounts that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon)) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account Collection Accounts that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made or in respect of which such Workout-Delayed Reimbursement Amount is outstanding, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Accounts that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that includes the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; fourth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Collection Accounts that represent any other payments or other collections received by the Trust with respect to the Trust Mortgage Loans or Trust REO Loans in the Loan Group that does not include the Trust Mortgage Loan or Trust REO Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; and fifth, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in the Collection Accounts that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon; provided that (i) if Loan Group 2 includes the Trust Mortgage Loan or Trust REO Loan in respect of which the subject Advance was made, then for purposes of making the reimbursements and/or payments contemplated by clauses first and third of this Section 1.02(a), amounts relating to the Loan Sub-Group that includes such Trust Mortgage Loan or Trust REO Loan will be applied in full prior to the application of amounts relating to the Loan Sub-Group that does not include such Trust Mortgage Loan or Trust REO Loan, and (ii) if Loan Group 2 does not include the Trust Mortgage Loan or Trust REO Loan in respect of which the subject Advance was made, then for purposes of making the reimbursements and/or payments contemplated by clauses second and fourth of this Section 1.02(a), amounts relating to the two Loan Sub-Groups will be applied on a pro rata basis in accordance with the relative aggregate unpaid principal balances of such Loan Sub-Groups.

Appears in 1 contract

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

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Collection Account for (i) any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges Charges) or Loss of Value Payments)(ii) any Workout-Delayed Reimbursement Amount, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Collection Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or Trust REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madeLoans, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon)) or to reimburse such Workout-Delayed Reimbursement Amount, as the case may be, would be included in the Available Distribution Amount for the related Distribution Date; second, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any amounts then on deposit in the Pool Custodial Collection Account that represent any other payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or Trust REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was madeLoans, and which amounts, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and third, solely in the case of the reimbursement of a Nonrecoverable Advance and/or the payment of interest thereon, out of any other amounts then on deposit in the Collection Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

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

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance Advances that has have been or is are determined to be a Nonrecoverable Advance Advances (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value PaymentsCharges), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amountsPool that, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that represent any other payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amountsPool that, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;; and third, out of any other amounts then on deposit in the Pool Custodial Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Lb-Ubs Comm Mort Trust 2004-C2)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Certificate Account for (i) any unreimbursed Advance Advances that has have been or is are determined to be a Nonrecoverable Advance Advances (together with interest accrued and payable thereon pursuant to Section 3.11(g3.03(d), Section 4.03(d) or Section 4.03(d4.03(f), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges late payment charges and Penalty Interest) or Loss of Value Payments)(ii) Workout-Delayed Reimbursement Amounts, then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Certificate Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or in respect of which the Workout-Delayed Reimbursement Amounts are outstanding (exclusive of, and which amountsunless the subject Nonrecoverable Advance or Workout-Delayed Reimbursement Amount relates to the 00 Xxxx Xxxxxx Xxxxx Mortgage Loan or any successor REO Loan with respect thereto, the 00 Xxxx Xxxxxx Xxxxx Non-Pooled Portion) that, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon)) or the Workout-Delayed Reimbursement Amounts, would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Certificate Account that represent payments or other collections of principal Received received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was mademade or Advance in respect of which the Workout-Delayed Reimbursement Amounts are outstanding (exclusive of, and which amountsunless the subject Nonrecoverable Advance or Workout-Delayed Reimbursement Amounts relate to the 00 Xxxx Xxxxxx Xxxxx Mortgage Loan or any successor REO Loan with respect thereto, the 00 Xxxx Xxxxxx Xxxxx Non-Pooled Portion) that, but for their application to reimburse such a Nonrecoverable Advance (and/or to pay interest thereon)) or the Workout-Delayed Reimbursement Amounts, would be included in the Available Distribution Amount for the related Distribution Date;; third, out of any amounts then on deposit in the Certificate Account that represent payments or other collections of principal received by the Trust with respect to the 00 Xxxx Xxxxxx Xxxxx Non-Pooled Portion that, but for their application to reimburse a Nonrecoverable Advance (and/or to pay interest thereon) or the Workout-Delayed Reimbursement Amounts, would be included in the 00 Xxxx Xxxxxx Xxxxx Available Distribution Amount for the related Distribution Date; fourth, out of any amounts then on deposit in the Certificate Account that represent any other payments or other collections received by the Trust with respect to the Mortgage Loans or REO Loans in the Loan Group that includes the Mortgage Loan or REO Loan in respect of which such Nonrecoverable Advance was made (exclusive of, unless the subject Nonrecoverable Advance relates to the 00 Xxxx Xxxxxx Xxxxx Mortgage Loan or any successor REO Loan with respect thereto, the 00 Xxxx Xxxxxx Xxxxx Non-Pooled Portion) that, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; fifth, out of any amounts then on deposit in the Certificate Account that represent any other payments or other collections received by the Trust with respect to the Mortgage Loans or REO Loans in the Loan Group that does not include the Mortgage Loan or REO Loan in respect of which such Nonrecoverable Advance was made (exclusive of, unless the subject Nonrecoverable Advance relates to the 00 Xxxx Xxxxxx Xxxxx Mortgage Loan or any successor REO Loan with respect thereto, the 00 Xxxx Xxxxxx Xxxxx Non- Pooled Portion) that, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the Available Distribution Amount for the related Distribution Date; sixth, out of any amounts then on deposit in the Certificate Account that represent any other payments or other collections received by the Trust with respect to the 00 Xxxx Xxxxxx Xxxxx Non-Pooled Portion that, but for their application to reimburse a Nonrecoverable Advance and/or to pay interest thereon, would be included in the 00 Xxxx Xxxxxx Xxxxx Available Distribution Amount for the related Distribution Date; and seventh, out of any other amounts then on deposit in the Certificate Account that may be available to reimburse the subject Nonrecoverable Advance and/or to pay interest thereon.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Merrill Lynch Comm Mort Ps THR Certs Ser 2003-Key1)

Certain Adjustments to the Principal Distributions on the Certificates. (a) If any party hereto is reimbursed out of general collections on the Mortgage Pool on deposit in the Pool Custodial Account for any unreimbursed Advance that has been or is determined to be a Nonrecoverable Advance (together with interest accrued and payable thereon pursuant to Section 3.11(g) or Section 4.03(d), as applicable, to the extent such interest was paid hereunder from a source other than related Default Charges or Loss of Value Payments), then (for purposes of calculating distributions on the Certificates) each such reimbursement and payment of interest shall be deemed to have been made: first, out of any amounts then on deposit in the Pool Custodial Account that represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans and/or REO Trust Mortgage Loans in the Loan Group that includes the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date; second, out of any amounts then on deposit in the Pool Custodial Account that (i) represent payments or other collections of principal Received by the Trust with respect to the Trust Mortgage Loans or REO Trust Mortgage Loans in the Loan Group that does not include the Trust Mortgage Loan or REO Trust Mortgage Loan in respect of which such Nonrecoverable Advance was made, and which amounts, but for their application to reimburse such Nonrecoverable Advance (and/or to pay interest thereon), would be included in the Available Distribution Amount for the related Distribution Date;

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Structured Asset Sec Corp Ii Lb-Ubs Comm Mort Trust 2004-C4)

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