Common use of Cross-Collateralization; Adjustments to Available Funds Clause in Contracts

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the Senior Credit Support Depletion Date, but after the date on which the aggregate Class Certificate Balance of Senior Certificates has been reduced to zero, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce the Available Funds of the other related Loan Groups that are not undercollateralized (the "Overcollateralized Groups"), as follows:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

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Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the Senior Credit Support Depletion Date, but after the date on which the aggregate Class Certificate Balance of Senior Certificates in a Certificate Group has been reduced to zero, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to in the Senior Certificates that will have been paid in full related Loan Group to the holders of the Senior Certificates of the other Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates in a Certificate Group is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce the Available Funds of the other related Loan Groups that are not undercollateralized (the "Overcollateralized Groups"), as follows:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the Senior Credit Support Depletion Date, but after the date on which the aggregate Class Certificate Balance of Senior Certificates has been reduced to zero, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the such Senior Certificates that will have been paid in full full, to the holders of the Senior Certificates of the other Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance outstanding principal balance of the Mortgage Loans in each Loan Group delinquent 60 days or more over the last six months, as a percentage of the Class Certificate Balance of the Subordinated Certificatesrelated Subordinate Component Balance, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce the Available Funds of the other related Loan Groups that are not undercollateralized (the "Overcollateralized Groups"), as follows:

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (CWMBS Inc), Pooling and Servicing Agreement (CWMBS Inc)

Cross-Collateralization; Adjustments to Available Funds. (a) On each Distribution Date prior to the earlier of the Senior Credit Support Depletion DateDate for Aggregate Loan Group I and the third Senior Termination Date for Aggregate Loan Group I, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date for Aggregate Loan Group I, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Group I Senior Certificates that will have been paid in full full, to the holders of the Senior Certificates of the other Certificate GroupsGroups related to Aggregate Loan Group I, pro rata, based on their Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for Aggregate Loan Group I for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage for Aggregate Loan Group I as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans in each Loan Group in Aggregate Loan Group I delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Group I Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce the Available Funds of the other related Loan Groups that are not undercollateralized (the "Overcollateralized Groups"), as follows:.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac Indx Mortgage Loan Trust 2005-Ar23)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Senior Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates in a Senior Certificate Group immediately prior to each Distribution Date is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the each, an "Overcollateralized GroupsGroup"), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-Hyb1)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates in a Senior Certificate Group is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the "Overcollateralized GroupsGroup"), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the (i) Senior Credit Support Depletion Date related to a Senior Certificate Group and (ii) third Senior Termination Date, but after the date on which the aggregate Class a Senior Termination Date for a Senior Certificate Balance of Senior Certificates has been reduced Group related to zeroa Loan Group, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the that Senior Certificates Certificate Group that will have been paid in full to the holders of the Senior Certificates of the other related Senior Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if the (ai) the Aggregate Subordinated Percentage for the Subordinated Certificates for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (bii) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of any Senior Certificates in a Senior Certificate Group immediately prior to each Distribution Date is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group Group(s) (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the "Overcollateralized Groups"Group”), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (BellaVista Mortgage Trust 2005-1)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the fourth Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Senior Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates in a Senior Certificate Group immediately prior to each Distribution Date is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group as of the Due Date in the month preceding the month of the related Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to that Due Date) (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the each, an "Overcollateralized GroupsGroup"), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2007-Hyb1)

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Cross-Collateralization; Adjustments to Available Funds. On (a) With respect to the Aggregate Group II Certificates, on each Distribution Date after the first related Senior Termination Date but prior to the earlier of the related Senior Credit Support Depletion Date and the third related Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of Senior Certificates has been reduced to zero, the Trustee Securities Administrator shall distribute the principal portion of Available Funds on the Aggregate Group II Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Aggregate Group II Senior Certificates of the other Certificate GroupsGroups in Aggregate Certificate Group II, pro rata, based on Class Certificate Principal Balances, provided, however, that the Trustee Securities Administrator shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for the Group II Subordinated Certificates for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Aggregate Group II Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the Class Certificate Principal Balance of the Aggregate Group II Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce the Available Funds of the other related Loan Groups that are not undercollateralized (the "Overcollateralized Groups"), as follows:.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2004-11ar)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the fifth Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates in a Senior Certificate Group is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the "Overcollateralized GroupsGroup"), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the Class Certificate Balance of Senior Certificates in a Senior Certificate Group immediately prior to each Distribution Date is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the "Overcollateralized GroupsGroup"), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Cross-Collateralization; Adjustments to Available Funds. On each Distribution Date prior to the earlier of the Senior Credit Support Depletion Date and the second Senior Termination Date, but after the date on which the aggregate Class Certificate Balance of a Senior Certificates has been reduced to zeroTermination Date, the Trustee shall distribute the principal portion of Available Funds on the Mortgage Loans relating to the Senior Certificates that will have been paid in full to the holders of the Senior Certificates of the other Senior Certificate Groups, pro rata, based on Class Certificate Balances, provided, however, that the Trustee shall not make such distribution on such Distribution Date if (a) the Aggregate Subordinated Percentage for such Distribution Date is greater than or equal to 200% of such Aggregate Subordinated Percentage as of the Closing Date and (b) the average aggregate Stated Principal Balance of the Mortgage Loans delinquent 60 days or more over the last six months, as a percentage of the aggregate Class Certificate Balance of the Subordinated Certificates, is less than 50%. If on any Distribution Date the aggregate Class Certificate Balance of the Senior Certificates in a Senior Certificate Group immediately prior to each Distribution Date is greater than the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group as of the first day of the related Due Period (after giving effect to Principal Prepayments received during the Prepayment Period ending in that Due Period) (the "Undercollateralized Group"), then the Trustee shall reduce apply the Available Funds of the other related Loan Groups Group(s) that are not undercollateralized (the each, an "Overcollateralized GroupsGroup"), as follows:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2005-45)

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