Generic Solution for the Class Y Principal Reduction Amounts Sample Clauses

Generic Solution for the Class Y Principal Reduction Amounts. For any Distribution Date, the amounts by which the principal balances of the Class YAA and Class YBB Certificates respectively will be reduced on such Distribution Date by the allocation of Realized Losses and the distribution of principal, determined as follows: J% and K% represent the interest rates on Group AA and Group BB respectively. J%<K%. For purposes of the succeeding formulas the following symbols shall have the meanings set forth below: PJB = the Group AA Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date. PKB = the Group BB Subordinate Balance after the allocation of Realized Losses and distributions of principal on such Distribution Date. R = the Class CB Pass Through Rate = (J%PJB + K%PKB)/(PJB + PKB) Yj = the Class YAA Principal Balance after distributions on the prior Distribution Date. Yk = the Class YBB Principal Balance after distributions on the prior Distribution Date. -------------------------------APPENDIX A-19------------------------------------- ΔYj = the Class YAA Principal Reduction Amount. ΔYk = the Class YBB Principal Reduction Amount. Zj = the Class ZAA Principal Balance after distributions on the prior Distribution Date. Zk = the Class ZBB Principal Balance after distributions on the prior Distribution Date. ΔZj = the Class ZAA Principal Reduction Amount. ΔZk = the Class ZBB Principal Reduction Amount. Pj = the aggregate Class Principal Balance of the Class YAA and Class ZAA Regular Interests after distributions on the prior Distribution Date, which is equal to the aggregate principal balance of the Group AA Loans reduced by the Group AA Class P principal balance, if any, and the Class R Principal Balance, if applicable. Pk = the aggregate Class Principal Balance of the Class YBB and Class ZBB Regular Interests after distributions on the prior Distribution Date, which is equal to the aggregate principal balance of the Group BB Loans reduced by the Group BB Class P principal balance, if any and Class R Principal Balance, if applicable. ΔPj = the aggregate principal reduction resulting on such Distribution Date on the Group AA Loans as a result of principal distributions (exclusive of any amounts distributed pursuant to clauses (c)(i) or (c)(ii) of the definition of REMIC I Distribution Amount) to be made and realized losses to be allocated on such Distribution Date, reduced by the portion, if any, of such reduction allocable to any Group AA Class P Certificates...
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Related to Generic Solution for the Class Y Principal Reduction Amounts

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  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

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  • Determination of Monthly Principal The amount of monthly principal to be transferred from the Principal Account with respect to the Notes on each Transfer Date (the “Monthly Principal”), beginning with the Transfer Date in the month following the month in which the Controlled Accumulation Period or, if earlier, the Early Amortization Period, begins, shall be equal to the least of (i) the Available Principal Collections on deposit in the Principal Account with respect to such Transfer Date, (ii) for each Transfer Date with respect to the Controlled Accumulation Period, the Controlled Deposit Amount for such Transfer Date, (iii) the Collateral Amount (after taking into account any adjustments to be made on such Distribution Date pursuant to Sections 4.5 and 4.6) prior to any deposit into the Principal Accumulation Account on such Transfer Date, and (iv) the Note Principal Balance, minus any amount already on deposit in the Principal Accumulation Account on such Transfer Date.

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  • Allocation of Senior Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Senior Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • 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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