Common use of Distributions on the Uncertificated Lower-Tier Interests Clause in Contracts

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-X-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and Class 6-X-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 6-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2005-12)

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Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, and Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 65-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-XCB-PO Component, the Class 2-XCB-PO Component, the Class 3-XCB-PO Component, the Class 4-X-PO Component, Component and the Class 5-X-PO Component and Class 6-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, Interest and the Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 4 and Loan Group 65, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 65-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 65-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and from Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances of the Class 1-CB-PO Component, the Class 2-CB-PO Component, the Class 3-CB-PO Component, the Class 4-X-PO Component and the Class 5-X-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group 6 Mortgage Loans Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "61," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Component Balance of the Class 1-CB-PO Component, (ii) the principal balance of the Class 2-LPO Interest will be equal to the Component Balance of the Class 2-CB-PO Component, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-CB-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-X-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-X-PO Component. As of any date, (i) the notional amount of the Class 1-LWIO Interest will be equal to the Class 1-CB-IO Notional Amount, (ii) the notional amount of the Class 2-LWIO Interest will be equal to the Class 2-CB-IO Notional Amount, (iii) the notional amount of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional amount of the Class 4-LWIO Interest will be equal to the Class 4-X-IO Notional Amount and (v) the notional amount of the Class 5-LWIO Interest will be equal to the Class 5-X-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 2-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-CB-IO Component, Class 2-CB-IO Component, Class 3-CB-IO Component, Class 4-X-IO Component and Class 5-X-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-9)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 62-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 62-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-X-PO Component, Component and the Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and Class 6-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, Interest and the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, 2 and Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 63-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 63-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-8)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-XCB-PO Component, the Class 2-XCB-PO Component, the Class 3-XPO Certificates, the Class 4-CB-PO Component, Class 4-X-PO Component, the Class 5-XCB-PO Component and the Class 6-X-PO Component, respectivelyCertificates; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 6-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-3)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Interest and Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 64-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-X-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and the Class 6-X4-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and the Class 64-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, 3 and Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 64-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 64-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-7 Trust)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest, Class 6-LPO Interest and Class 67-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest, Class 6-LPO Interest and Class 67-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-XCB-PO Component, the Class 2-XCB-PO Component, the Class 3-XCB-PO Component, the Class 4-XCB-PO Component, the Class 5-XPO Certificates, the Class 6-15-PO Component and the Class 67-X15-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest, Class 6-LS Interest and the Class 67-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 5, Loan Group 6 and Loan Group 67, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest, Class 6-LS Interest and Class 67-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest, Class 6-L Interest and Class 67-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5," and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6" and from the Group 7 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "7."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-2)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 215-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 65-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 215-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 65-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-XPO Certificates, the Class 15-PO Certificates, the Class 3-CB-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, the Class 4-X-PO Component, Class 5-XCB-PO Component and the Class 65-XCB-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, Interest and the Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 4 and Loan Group 65, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 65-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 65-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2" or the numeral "15," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 15-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and from Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-PO Certificates, the Class 15-PO Certificates, the Class 3-CB-PO Component, the Class 4-CB-PO Component and the Class 5-CB-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group 6 Mortgage Loans Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "61," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2" or the numeral "15," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Class Certificate Balance of the Class 1-PO Certificates, (ii) the principal balance of the Class 15-LPO Interest will be equal to the Class Certificate Balance of the Class 15-PO Certificates, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-CB-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-CB-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-CB-PO Component. As of any date, (i) the notional amount of the Class 1-LWIO Interest will be equal to the Class 1-IO Notional Amount, (ii) the notional amount of the Class 15-LWIO Interest will be equal to the Class 15-IO Notional Amount, (iii) the notional amount of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional amount of the Class 4-LWIO Interest will be equal to the Class 4-CB-IO Notional Amount and (v) the notional amount of the Class 5-LWIO Interest will be equal to the Class 5-CB-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 6.500% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 6.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 15-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-IO Certificates, Class 15-IO Certificates, Class 3-CB-IO Component, Class 4-CB-IO Component and Class 5-CB-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 15-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2006-4)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Interest and Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 64-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-XPO Component, the Class 2-PO Component, Class 2-X-PO Component, the Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and the Class 6-X4-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 64-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, 3 and Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 64-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 64-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Custodial Agreement (SunTrust Alternative Loan Trust, Series 2005-1f)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO InterestLPO, Class 5-LPO Interest, Class 6-LPO Interest and Class 67-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest, Class 6-LPO Interest and Class 67-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-XA-PO Component, the Class 2-XA-PO Component, the Class 3-XA-PO Component, the Class 4-XA-PO Component, the Class 5-XA-PO Component, the Class 6-A-PO Component and the Class 67-XA-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, the Class 5-LS Interest, the Class 6-LS Interest and the Class 67-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 5, Loan Group 6 and Loan Group 67, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest, Class 6-LS Interest and Class 67-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest, Class 6-L Interest and Class 67-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5," and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6" and from the Group 7 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "7."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-6)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 64-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 64-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-XCB-PO Component, the Class 2-XCB-PO Component, the Class 3-X-PO Component, Class 4-X-PO Component, Class 5-XCB-PO Component and the Class 6-X4-PO ComponentCertificates, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Interest and the Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, 3 and Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 64-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 64-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-11)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Interest and the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). For purposes of calculating the interest distributable in respect of each Uncertificated Lower-Tier Interest and any Distribution Date, Non-Supported Interest Shortfalls and Relief Act Reductions shall be allocated to the each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Interest and the Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-X-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X30-PO Component and the Class 63-X30-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Interest and the Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, 3 and Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, Interest and the Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, Interest and the Class 4-L Interest, Class 5-L Interest and Class 6-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," and from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-5 Trust)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Interest and Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 62-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-X-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and the Class 6-X2-PO Component, respectively; second, to the Class 1-LS Interest, Interest and the Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, 1 and Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 62-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 62-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," and from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding Corp. 2005-6 Trust)

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Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, and Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 65-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-XA-PO Component, the Class 2-XA-PO Component, the Class 3-XA-PO Component, the Class 4-X-PO Component, Class 5-XA-PO Component and the Class 65-XA-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, Interest and the Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 4 and Loan Group 65, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 65-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 65-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," and from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5." Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and from Class 5-LPO Interest, so as to keep their principal balances equal to the Component Balances of the Class 1-A-PO Component, the Class 2-A-PO Component, the Class 3-A-PO Component, the Class 4-A-PO Component and the Class 5-A-PO Component, respectively; second, to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group 6 Mortgage Loans Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4 and Loan Group 5, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest and Class 5-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest and Class 5-L Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Loan Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "61," (b) from Realized Losses allocated to Loan Group 2 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "2," (c) from Realized Losses allocated to Loan Group 3 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3," (d) from Realized Losses allocated to Loan Group 4 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "4" and (e) from Realized Losses allocated to Loan Group 5 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "5." As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 2. As of any date, the aggregate principal balance of the Class 3-L Interest and the Class 3-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 3. As of any date, the aggregate principal balance of the Class 4-L Interest and the Class 4-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 4. As of any date, the aggregate principal balance of the Class 5-L Interest and the Class 5-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Loan Group 5. As of any date, (i) the principal balance of the Class 1-LPO Interest will be equal to the Component Balance of the Class 1-A-PO Component, (ii) the principal balance of the Class 2-LPO Interest will be equal to the Component Balance of the Class 2-A-PO Component, (iii) the principal balance of the Class 3-LPO Interest will be equal to the Component Balance of the Class 3-A-PO Component, (iv) the principal balance of the Class 4-LPO Interest will be equal to the Component Balance of the Class 4-A-PO Component and (v) the principal balance of the Class 5-LPO Interest will be equal to the Component Balance of the Class 5-A-PO Component. As of any date, (i) the notional amount of the Class 1-LWIO Interest will be equal to the Class 1-CB-IO Notional Amount, (ii) the notional amount of the Class 2-LWIO Interest will be equal to the Class 2-CB-IO Notional Amount, (iii) the notional amount of the Class 3-LWIO Interest will be equal to the Class 3-CB-IO Notional Amount, (iv) the notional amount of the Class 4-LWIO Interest will be equal to the Class 4-15-IO Notional Amount and (v) the notional amount of the Class 5-LWIO Interest will be equal to the Class 5-15-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 3-L Interest and the Class 3-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 4-L Interest and the Class 4-LS Interest shall be 5.000% per annum. The pass-through rate with respect to the Class 5-L Interest and the Class 5-LS Interest shall be 5.500% per annum. The pass-through rate with respect to the Class 1-LWIO Interest, Class 2-LWIO Interest, Class 3-LWIO Interest, Class 4-LWIO Interest and Class 5-LWIO Interest shall be the same as the Pass-Through Rate for the Class 1-CB-IO Component, Class 2-CB-IO Component, Class 3-CB-IO Component, Class 4-15-IO Component and Class 5-15-IO Component, respectively, as each such rate is described in the Preliminary Statement. The Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest and Class 5-LPO Interest are principal-only interests and are not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the "Lower-Tier Distribution Amount."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-8)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest, so as to keep the principal balances balance thereof at all times equal to the Component Balances Class Certificate Balance of the Class 1-X-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and Class 6-X-PO Component, respectivelyCertificates; second, to the Class 1-LS Interest, Interest and the Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Cashflow Group 1, Loan 1 and Cashflow Group 2, Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 62-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 62-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Mortgage Loans contributing to Cashflow Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," and from the Mortgage Loans contributing to Cashflow Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2,." from Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, so as to keep its principal balance equal to the Class Certificate Balance of the Class 1-PO Certificates; second, to the Class 1-LS Interest and the Class 2-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group 3 Mortgage Loans Subordinate Amount for Cashflow Group 1 and Cashflow Group 2, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest and the Class 2-LS Interest such that the Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to the Class 1-LS Interest and the Class 2-LS Interest. Any Realized Losses allocated to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be (a) from Realized Losses allocated to Cashflow Group 1 in the case of Uncertificated Lower-Tier Interests beginning with the numeral "3,1" and (b) from Realized Losses allocated to Cashflow Group 2 in the Group 4 Mortgage Loans to the case of Uncertificated Lower-Tier Interests beginning with the numeral "4,2." from As of any date, the aggregate principal balance of the Class 1-L Interest and the Class 1-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Cashflow Group 5 Mortgage Loans 1. As of any date, the aggregate principal balance of the Class 2-L Interest and the Class 2-LS Interest shall equal the aggregate Pool Stated Principal Balance (Non-PO Portion) of Cashflow Group 2. As of any date, the principal balance of the Class 1-LPO Interest will be equal to the Class Certificate Balance of the Class 1-PO Certificates. As of any date, the notional amount of the Class 2-LWIO Interest will be equal to the Class 2-IO Notional Amount. The pass-through rate with respect to the Class 1-L Interest and the Class 1-LS Interest shall be 6.000% per annum. The pass-through rate with respect to the Class 2-L Interest and the Class 2-LS Interest shall be 7.000% per annum. The pass-through rate with respect to the Class 2-LWIO Interest shall be the same as the Pass-Through Rate for the Class 2-IO Certificates, as such rate is described in the Preliminary Statement. The Class 1-LPO Interest is a principal-only interest and is not entitled to distributions of interest. Any Non-Supported Interest Shortfalls and Relief Act Reductions will be allocated to each Uncertificated Lower-Tier Interest in the same relative proportions as interest is allocated to such Uncertificated Lower-Tier Interest. Amounts distributed to the Uncertificated Lower-Tier Interests beginning in respect of principal and interest with respect to any Distribution Date are referred to herein collectively as the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6Distribution Amount."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Mortgage 2007-3 Trust)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 63-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 63-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-XCB-PO Component, the Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-XCB-PO Component and the Class 63-XCB-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, Interest and the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, 2 and Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 63-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 63-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-7)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest, so as to keep the principal balances balance thereof at all times equal to the Component Balances Class Certificate Balance of the Class 1-X-PO Component, Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and Class 6-X-PO Component, respectivelyCertificates; second, to the Class 1-LS Interest, the Class 2-LS Interest, Interest and the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Cashflow Group 1, Loan Cashflow Group 2, Loan 2 and Cashflow Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 63-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 63-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Mortgage Loans contributing to Cashflow Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Mortgage Loans contributing to Cashflow Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Mortgage Loans contributing to Cashflow Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust 2007-2)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 63-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi5.02(a). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 63-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-XA-PO Component, the Class 2-X-PO Component, Class 3-X-PO Component, Class 4-X-PO Component, Class 5-XA-PO Component and the Class 63-XA-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, Interest and the Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, 2 and Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Interest and Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 63-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," and from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-4)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, the Class 4-LPO Interest, the Class 5-LPO Interest and the Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi)5.02. All distributions of principal shall be made first to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-LPO Interest, the Class 4-LPO Interest, the Class 5-LPO Interest and the Class 6-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances of the Class 1-X-PO Component, the Class 2-X-PO Component, the Class 3-X-PO Component, Class 4-X-PO Component, Class 5-X-PO Component and Class 6-X-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, Class 3-LS Interest, the Class 4-LS Interest, the Class 5-LS Interest and the Class 6-LS Interest, Interest so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, the Class 2-LS Interest, Class 3-LS Interest, the Class 4-LS Interest, the Class 5-LS Interest and the Class 6-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, the Class 2-L Interest, the Class 3-L Interest, the Class 4-L Interest, the Class 5-L Interest and the Class 6-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5," and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."" Realized Losses shall be applied after all distributions have been made on each Distribution Date first, to the Class 1-LPO Interest, the Class 2-LPO Interest, the Class 3-

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2006-2 Trust)

Distributions on the Uncertificated Lower-Tier Interests. On each Distribution Date, interest shall be distributed in respect of the Uncertificated Lower-Tier Interests (other than the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO InterestLPO, Class 5-LPO Interest and Class 6-LPO Interest) at the pass-through rate thereon, as described in the next to last paragraph of this Section 5.02(a)(vi). All distributions of principal shall be made first to the Class 1-LPO Interest, Class 2-LPO Interest, Class 3-LPO Interest, Class 4-LPO Interest, Class 5-LPO Interest and Class 6-LPO Interest, so as to keep the principal balances thereof at all times equal to the Component Balances or Class Certificate Balance, as the case may be, of the Class 1-XCB-PO Component, the Class 2-XCB-PO Component, the Class 3-XCB-PO Component, the Class 4-X-PO ComponentCertificates, the Class 5-X15-PO Component and the Class 6-X15-PO Component, respectively; second, to the Class 1-LS Interest, the Class 2-LS Interest, the Class 3-LS Interest, the Class 4-LS Interest, the Class 5-LS Interest and the Class 6-LS Interest, so as to keep the principal balances thereof (computed to eight decimal places) equal to 0.100% of the Group Subordinate Amount for Loan Group 1, Loan Group 2, Loan Group 3, Loan Group 4, Loan Group 5 and Loan Group 6, respectively (except that if any such amount is greater than on the preceding Distribution Date, the least amount of principal shall be distributed to the Class 1-LS Interest, Class 2-LS Interest, Class 3-LS Interest, Class 4-LS Interest, Class 5-LS Interest and Class 6-LS Interest, such that the Subordinate Balance Ratio is maintained), and third, any remaining principal to the Class 1-L Interest, Class 2-L Interest, Class 3-L Interest, Class 4-L Interest, Class 5-L Interest and Class 6-L Interest. Any distributions of principal made to the Uncertificated Lower-Tier Interests pursuant to this paragraph shall be made from the Group 1 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "1," from the Group 2 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "2," from the Group 3 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "3," from the Group 4 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "4," from the Group 5 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "5" and from the Group 6 Mortgage Loans to the Uncertificated Lower-Tier Interests beginning with the numeral "6."

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Alternative Loan Trust Mortgage Pass-Through Certificates Series 2005-10)

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