Common use of Interest Distributions Clause in Contracts

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, to the Class A-1F, Class A-2F and Class A-1A Certificates, pro rata, the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, to the Class A-1F, Class A-2F and Class A-1A Certificates, pro rata, the applicable Interest Carry Forward Amount for the Class A-1F, Class A-2F and Class A-1A Certificates, respectively; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vi) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vii) to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (viii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Residential Asset Funding Corp)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, Reports upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available: (i) to the Trustee, in its capacity as Trustee and Custodian, the Trustee Fee for such Distribution Date; (ii) concurrently, to the Class A-1F, Class A-2F and Class A-1A A Certificates, pro rata, the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, to the Class A-1F, Class A-2F and Class A-1A A Certificates, pro rata, the applicable Interest Carry Forward Amount for the Class A-1F, Class A-2F and Class A-1A A Certificates, respectively; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vi) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vii) to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (viii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b3.04(b) hereof.

Appears in 1 contract

Sources: Pooling Agreement (Morgan Stanley ABS Capital I Inc. Trust, Series 2004-Sd2)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee), in each case to the extent availableof the Interest Remittance Amount remaining for such Distribution Date: (ia) first, to the Trustee, the portion of the Trustee Fee for such Distribution Date; (iib) concurrentlysecond, concurrently to the Class A-1F, Class A-2F A-1 and Class A-1A A-2 Certificates, pro rata, the applicable Accrued Certificate Interest and Interest Carry Forward Amount thereon for such Distribution Date, allocated pro rata based on entitlement pursuant to this clause (b); (iiic) concurrentlythird, to the Class A-1F, Class A-2F and Class A-1A Certificates, pro rata, the applicable Interest Carry Forward Amount for the Class A-1F, Class A-2F and Class A-1A Certificates, respectively; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Class and Distribution Date; (vd) fourth, to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Class and Distribution Date; (vie) fifth, to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Class and Distribution Date; (viif) sixth, to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Class and Distribution Date; and (viiig) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Bond Securitization LLC)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, to the Class A-1F, Class A-2F and Class A-1A A Certificates, pro rata, the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, to the Class A-1F, Class A-2F and Class A-1A A Certificates, pro rata, the applicable Interest Carry Forward Amount for the Class A-1F, Class A-2F and Class A-1A CertificatesAmount, respectively; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vi) to the Class B-1 M-3 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vii) to the Class B-2 B Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (viii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Abfc Asset Backed Certificates Series 2002-Sb1)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan Asset information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, to the Class A-1F, Class A-2F A-1 and Class A-1A A-2 Certificates, pro rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) concurrently, to the Class A-1F, Class A-2F A-1 and Class A-1A A-2 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for the Class A-1F, Class A-2F and Class A-1A Certificates, respectivelysuch Distribution Date; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vi) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vii) to the Class B-2 B Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (viiivii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Mid State Capital Corp)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available: (i) to the Trustee, the Trustee Fee for such Distribution Date; (ii) concurrently, to the Class A-1F, Class A-2F A-IO and Class A-1A Certificates, pro rata, the applicable Accrued Certificate Interest thereon for such Distribution Date; (iii) concurrently, to the Class A-1F, Class A-2F A-IO and Class A-1A Certificates, pro rata, the applicable Interest Carry Forward Amount for the Class A-1F, Class A-2F A-IO and Class A-1A Certificates, respectively; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vi) to the Class B-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vii) to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (viii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.

Appears in 1 contract

Sources: Pooling and Servicing Agreement (Residential Asset Funding Corp)

Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, Reports upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available: (i) to the Trustee, in its capacity as Trustee and Custodian, the Trustee Fee for such Distribution Date; (ii) concurrently, to the Class A-1F, Class A-2F and Class A-1A A Certificates, pro rata, the applicable Accrued Certificate Interest for such Distribution Date; (iii) concurrently, to the Class A-1F, Class A-2F and Class A-1A A Certificates, pro rata, the applicable Interest Carry Forward Amount for the Class A-1F, Class A-2F and Class A-1A A Certificates, respectively; (iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vi) to the Class B-1 B Certificates, the Accrued Certificate Interest thereon for such Distribution Date; (vii) to the Class B-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date[Reserved]; and (viii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b3.04(b) hereof.

Appears in 1 contract

Sources: Pooling Agreement (Morgan Stanley Abs Capital I Inc Trust Series 2004-Sd1)