Certificate Deferred Interest Sample Clauses

Certificate Deferred Interest. (a) On each Distribution Date, the amount of interest distributable to a Class of Certificates (other than the Class [X] Certificates) shall be reduced by an amount equal to the amount of Mortgage Deferred Interest for all Mortgage Loans for the Due Dates occurring in the related Due Period allocated to such Class of Certificates, such Mortgage Deferred Interest to be allocated first to the Class [H] Certificates, second to the Class [G] Certificates, third to the Class [F] Certificates, fourth to the Class [E] Certificates, fifth to the Class [D] Certificates, sixth to the Class [C] Certificates, seventh to the Class [B] Certificates and eighth, pro rata (based upon Accrued Certificate Interest), to the Class [A-1] and Class [A-2] Certificates, in each case up to the respective Accrued Certificate Interest for each such Class of Certificates for such Distribution Date.
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Certificate Deferred Interest. (a) On each Distribution Date, the amount of interest distributable to a Class of Certificates (other than the Class X and Class PS Certificates) shall be reduced by an amount equal to the amount of Mortgage Deferred Interest for all Majority Mortgage Loans for the Due Dates occurring in the related Due Period allocated to such Class of Certificates, such Mortgage Deferred Interest to be allocated first to the Class NR Certificates; second to the Class P Certificates; third to the Class N Certificates; fourth to the Class M Certificates; fifth to the Class L Certificates; sixth to the Class K Certificates; seventh to the Class J Certificates; eighth to the Class H Certificates; ninth to the Class G Certificates; tenth to the Class F Certificates; eleventh to the Class E Certificates; twelfth to the Class D Certificates; thirteenth to the Class C Certificates, fourteenth to the Class B Certificates and fifteenth, pro rata (based upon Accrued Certificate Interest), to the Class A-1, Class A-1A and Class A-2 Certificates, in each case up to the respective Accrued Certificate Interest for each such Class of Certificates for such Distribution Date. On each Distribution Date, the amount of interest distributable to the Class PS Certificates shall be reduced by an amount equal to the amount of Mortgage Deferred Interest for the One Post Office Square B Note for the Due Date occurring in the related Due Period, such Mortgage Deferred Interest to be allocated first to the Class PS-7 Certificates, second to the Class PS-6 Certificates, third to the Class PS-5 Certificates fourth to the Class PS-4 Certificates, fifth to the Class PS-3 Certificates, sixth to the Class PS-2 Certificates and seventh to the Class PS-1 Certificates in each case up to the respective Accrued Certificate Interest for each such Class of Certificates for such Distribution Date.
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Certificate Deferred Interest. (a) On each Distribution Date, the amount of interest distributable to a Class of Regular Certificates (other than the Class X Certificates) shall be reduced by an amount equal to the amount of Mortgage Deferred Interest for all Mortgage Loans for the Due Dates occurring in the related Due Period allocated to such Class of Certificates, such Mortgage Deferred Interest to be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates), sixth, to the Class B Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates), seventh, to the Class A-S Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates), and then pro rata (based upon Accrued Certificate Interest) to the Class A-1, Class A-2, Class A-3, Class A-4A1, Class A-4A2, Class A-5 and Class A-SB Certificates, in each case up to the respective Accrued Certificate Interest for each such Class of Certificates for such Distribution Date.
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Certificate Deferred Interest. (a) On each Distribution Date, (i) the amount of interest distributable to a Class of Regular Certificates (other than the Class X Certificates) shall be reduced by an amount equal to the amount of Mortgage Deferred Interest for all Mortgage Loans for the Due Dates occurring in the related Due Period allocated to such Class of Certificates, such Mortgage Deferred Interest to be allocated first, to the Class NR Certificates, second, to the Class F Certificates, third, to the Class E Certificates, fourth, to the Class D Certificates, fifth, to the Class C Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates), sixth, to the Class B Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates), seventh, to the Class A-S Certificates (without giving effect to any exchange of the Exchangeable Certificates for Class EC Certificates), and then pro rata (based upon Accrued Certificate Interest) to the Class A-1, Class A-2, Class A-3, Class A-4, Class A-5 and Class A-SB Certificates, in each case up to the respective Accrued Certificate Interest for each such Class of Certificates for such Distribution Date and (ii) the amount of interest distributable to any Class of Loan-Specific Certificates shall be reduced by an amount equal to the amount of Mortgage Deferred Interest for the related Trust Companion Loan for the Due Date occurring in the related Due Period allocated to such Class of Certificates, such Mortgage Deferred Interest to be allocated to such Class of Certificates, (i) with respect to the Class UH5 Certificates, as Class UH5 Certificate Deferred Interest, (ii) with respect to the Class RIM Certificates, as Class RIM Certificate Deferred Interest, and (iii) with respect to the Class WYA Certificates, as Class WYA Certificate Deferred Interest, in each case, up to the Loan-Specific Accrued Certificate Interest for such Class of Certificates for such Distribution Date.
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Certificate Deferred Interest. Section 4.06 Grantor Trust Reporting...........................................
Sample 1

Related to Certificate Deferred Interest

  • Deferred Interest The amount by which the interest due on a Mortgage exceeds the borrower’s monthly payment, which amount is added to the unpaid principal balance of the Mortgage.

  • Certificate Distribution Account The Certificate Distribution Account shall be established as a non-interest bearing trust account pursuant to Section 4.1 of the Sale and Servicing Agreement. Funds on deposit in the Certificate Distribution Account shall be held uninvested. The Certificateholders shall possess all beneficial right, title and interest in and to all funds on deposit from time to time in the Certificate Distribution Account and all proceeds thereof. Except as otherwise provided herein, in the Indenture or in the Sale and Servicing Agreement, the Certificate Distribution Account shall be under the sole dominion and control of the Certificate Paying Agent for the benefit of the Certificateholders. If, at any time, the Certificate Distribution Account ceases to be an Eligible Account, the Servicer on behalf of the Issuer, shall, within ten (10) Business Days (or such longer period) after becoming aware of the fact, establish a new Certificate Distribution Account as an Eligible Account and shall direct the Certificate Paying Agent to transfer any cash then on deposit in the Certificate Distribution Account to such new Certificate Distribution Account.

  • Distributions from the Certificate Account (a) On each Distribution Date, the Trustee (or the Paying Agent on behalf of the Trustee) shall withdraw from the Certificate Account, the Available Distribution Amount (other than the Class E Distributable Amount and the Class P Distributable Amount) with respect to each Mortgage Pool, and shall distribute such amount to the Holders of record of each Class of Certificates or Components, in the following order of priority:

  • Class PO Certificates Private Certificates..................................... Class P, Class B-4, Class B-5 and Class B-6 Certificates. Rating Agencies.......................................... Fitch and S&P. Regular Certificates..................................... All Classes of Certificates other than the Class A-R Certificates. Residual Certificate..................................... Class A-R Certificates.

  • Collection of Mortgage Loan Payments; Certificate Account; Distribution Account (a) The Master Servicer shall make reasonable efforts in accordance with the customary and usual standards of practice of prudent mortgage servicers to collect all payments called for under the terms and provisions of the Mortgage Loans to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any related Required Insurance Policy. Consistent with the foregoing, the Master Servicer may in its discretion (i) waive any late payment charge or any prepayment charge or penalty interest in connection with the prepayment of a Mortgage Loan and (ii) extend the due dates for payments due on a Mortgage Note for a period not greater than 180 days; provided, however, that the Master Servicer cannot extend the maturity of any such Mortgage Loan past the date on which the final payment is due on the latest maturing Mortgage Loan as of the Cut-off Date. In the event of any such arrangement, the Master Servicer shall make Advances on the related Mortgage Loan in accordance with the provisions of Section 4.1 during the scheduled period in accordance with the amortization schedule of such Mortgage Loan without modification thereof by reason of such arrangements. The Master Servicer shall not be required to institute or join in litigation with respect to collection of any payment (whether under a Mortgage, Mortgage Note or otherwise or against any public or governmental authority with respect to a taking or condemnation) if it reasonably believes that enforcing the provision of the Mortgage or other instrument pursuant to which such payment is required is prohibited by applicable law.

  • Distributions on the REMIC Regular Interests (a) On each Distribution Date, the Trustee shall cause in the following order of priority, the following amounts to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be:

  • Distribution Account (a) The Trustee shall establish and maintain in the name of the Trustee, for the benefit of the Certificateholders, the Distribution Account as a segregated trust account or accounts.

  • Certificates Issuable in Classes; Distributions of Principal and Interest; Authorized Denominations The aggregate principal amount of the Certificates that may be authenticated and delivered under this Agreement is limited to the aggregate Principal Balance of the Mortgage Loans as of the Cut-Off Date, as specified in the Preliminary Statement to this Agreement, except for Certificates authenticated and delivered upon registration of transfer of, or in exchange for, or in lieu of, other Certificates pursuant to Section 5.03. Such aggregate principal amount shall be allocated among one or more Classes having designations, types of interests, initial per annum Certificate Interest Rates, initial Class Principal Balances and Final Maturity Dates as specified in the Preliminary Statement to this Agreement. The aggregate Percentage Interest of each Class of Certificates of which the Class Principal Balance equals zero as of the Cut-Off Date that may be authenticated and delivered under this Agreement is limited to 100%. Certificates shall be issued in Authorized Denominations.

  • Distributions and Interest Amount (i) Interest Rate. "

  • Percentage Interest Ownership of the Company shall be divided into, represented by, and each Member’s Percentage Interest shall be expressed in Units of the Company. The name, address, Units and Percentage Interest of each Member are set forth on Exhibit “A” attached hereto, which may be amended from time to time as necessary to reflect changes in the Percentage Interests and Units held by the Members.

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