Distributions to Certificates Outside of REMIC II Sample Clauses

Distributions to Certificates Outside of REMIC II. For tax purposes, for any Distribution Date for which a distribution has been made to any Class of Class A or Class B Certificates pursuant to the second paragraph of Section 4.04(a), such Class shall be treated as (i) having received the portion of the REMIC II Available Distribution Amount distributed to the Corresponding Class of REMIC II Regular Interests for such Distribution Date and (ii) having received from the Class X-PPP Certificates, outside of REMIC II, the distribution pursuant to the second paragraph of Section 4.04(a). For tax purposes, for any such Distribution Date, the Class X-PPP Certificates shall be treated as (i) having received the portion of the REMIC II Available Distribution Amount distributed to the Corresponding Class of REMIC II Regular Interests for such Distribution Date and (ii) having paid to the applicable Class or Classes of Class A or Class B Certificates, outside of REMIC II, the applicable portion of the Carryover Shortfall Payments for such Classes.
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Distributions to Certificates Outside of REMIC II. For tax purposes, for any Distribution Date for which a distribution of a Carryover Shortfall Amount has been made to any Class of Certificates pursuant to Section 4.02(a)(4), such Class shall be treated as having received (i) the portion of the REMIC II Available Distribution Amount distributed to the corresponding class of REMIC II Regular Interests for such Distribution Date and (ii) from the Class X Certificates, outside of REMIC II, the an amount equal to the Carryover Shortfall Amount for such Class. For tax purposes, for any such Distribution Date, the Class X Certificates shall be treated as having (i) received the portion of the REMIC II Available Distribution Amount distributed to the Class X Certificates for such Distribution Date and (ii) paid to each such Class of Certificates, outside of REMIC II, an amount equal to the Carryover Shortfall Amount for such Class. For tax purposes, for any Distribution Date for which a distribution of an amount received pursuant to the Yield Maintenance Agreement has been made to any Class of Certificates pursuant to Section 4.02(a)(3), such Class shall be treated as having received (i) the portion of the REMIC II Available Distribution Amount distributed to the corresponding class of REMIC II Regular Interests for such Distribution Date and (ii) outside of REMIC II, the amount equal to the amount paid to such Class pursuant to Section 4.02(a)(3). For tax purposes, for any Distribution Date for which a distribution of an amount withdrawn from the Capitalized Interest Account has been made to any Class of Certificates pursuant to Sections 4.02(a)(1) and 4.02(a)(2) in respect of interest on such Class of Certificates at a rate in excess of the Net WAC Cap, such Class shall be treated as having received (i) the portion of the REMIC II Available Distribution Amount distributed to the corresponding class of REMIC II Regular Interests for such Distribution Date and (ii) outside of REMIC II, an amount equal to the amount paid to such Class pursuant to Sections 4.02(a)(1) and 4.02(a)(2) to the extent that such payment represents interest on such Class at a rate in excess of the Net WAC Cap. Each Holder of a Class X Certificate is deemed to have accepted the terms for payment of the Carryover Shortfall Amounts and amounts received in respect of the Yield Maintenance Agreement to the Holders of the other Classes of Certificates (other than the Class A-R Certificates) pursuant Sections 4.02(a)(3) and 4.02(a)(4) and this S...
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Related to Distributions to Certificates Outside of REMIC II

  • Distributions to Certificateholders (a) The Trustee shall establish and maintain a separate account as set forth in Article I (the "Certificate Account"), the purpose of which is to accept deposits from the Servicer and to make distributions to the Certificateholders of the amounts set forth in this Section 4.1.

  • Distributions Statements to Certificateholders 29 Section 4.01. Certificate Account and Special Payments Account...................................... 29 Section 4.02. Distributions from Certificate Account and Special Payments Account................... 29 Section 4.03. Statements to Certificateholders...................................................... 31 Section 4.04. Investment of Special Payment Moneys.................................................. 32

  • Distributions to Certificateholders; Payment of Special Primary Insurance Premiums (a) On each Distribution Date, the Trustee (or any duly appointed paying agent) shall (i) subject to Section 3.05(a)(viii), withdraw from the Certificate Account any Special Primary Insurance Premium payable on such Distribution Date and pay such amount to the insurer under the applicable Special Primary Insurance Policy and (ii) withdraw from the Certificate Account the REMIC II Available Distribution Amount for such Distribution Date and distribute, from the amount so withdrawn, to the extent of the REMIC II Available Distribution Amount, the REMIC II Distribution Amount to the Certificateholders (including the Class R Certificateholders with respect to any distribution to the Holders of the Class R-2 Residual Interest), all in accordance with the written statement received from the Master Servicer pursuant to Section 4.02(b). Any Special Primary Insurance Premiums distributed pursuant to clause (i) above shall be distributed by means of payment acceptable to the insurer under the respective Special Primary Insurance Policy. Amounts distributed to the Certificateholders pursuant to clause (ii) above shall be distributed by wire transfer in immediately available funds for the account of, or by check mailed to, each such Certificateholder of record on the immediately preceding Record Date (other than as provided in Section 9.01 respecting the final distribution), as specified by each such Certificateholder and at the address of such Holder appearing in the Certificate Register.

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

  • Payments to Certificateholders 68 Section 4.01. Certificate Account..................................................68 Section 4.02. Distributions........................................................68 Section 4.03. Statements to Certificateholders; Statements to Rating Agencies; Exchange Act Reporting............................................68 Section 4.04. Distribution of Reports to the Trustee and the Company; Advances by the Master Servicer.............................................70

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

  • Reports to Certificateholders (a) On each Distribution Date, the Trustee shall prepare (based solely on information provided by the Master Servicer) and shall make available to each Certificateholder and each Rating Agency a written report setting forth the following information (on the basis of Mortgage Loan level information obtained from the Servicers and the Master Servicer):

  • Monthly Statements to Certificateholders (a) Not later than each Distribution Date, the Trustee shall prepare and cause to be forwarded by first class mail to each Certificateholder, the Master Servicer, the Depositor and each Rating Agency a statement setting forth with respect to the related distribution:

  • Trust Accounts Distributions Statements to Noteholders SECTION 5.1.

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

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