Common use of Interest Shortfall Clause in Contracts

Interest Shortfall. Notwithstanding anything in the Standard Terms or this Trust Agreement to the contrary, on each Distribution Date, before any distributions are made on the Certificates, any Shortfall with respect to any Mortgage Loan shall be allocated to reduce the Accrued Certificate Interest on each Class of Senior Certificates related to the Loan Group of such Mortgage Loan and each Class of related Subordinate Certificates pro rata, based on the amount of Accrued Certificate Interest otherwise owing to each such Class, in the case of the Senior Certificates, and the related Group Subordinate Amount, in the case of the Subordinate Certificates, pursuant to clause (i) of the definition of Accrued Certificate Interest.

Appears in 4 contracts

Samples: Master Servicing and Trust Agreement (STARM Mortgage Loan Trust 2007-4), Master Servicing and Trust Agreement (STARM Mortgage Loan Trust 2007-1), Master Servicing and Trust Agreement (STARM Mortgage Loan Trust 2007-4)

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Interest Shortfall. Notwithstanding anything in the Standard Terms or this Trust Agreement to the contrary, on each Distribution Date, before any distributions are made on the Certificates, any Shortfall with respect to any Mortgage Loan shall be allocated to reduce the Accrued Certificate Interest on each Class of Senior Certificates related to the Loan Group of such Mortgage Loan and each Class of related Subordinate Certificates pro rata, based on the amount of Accrued Certificate Interest otherwise owing to each such Class, in the case of the Senior Certificates, and the related Group Subordinate AmountApportioned Principal Balance, in the case of the Subordinate Certificates, pursuant to clause (i) of the definition of Accrued Certificate Interest.

Appears in 2 contracts

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2006-Ar1), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar6)

Interest Shortfall. Notwithstanding anything in the Standard Terms or this Trust Agreement to the contrary, on each Distribution Date, before any distributions are made on the Certificates, any Shortfall with respect to any Mortgage Loan shall be allocated to reduce the Accrued Certificate Interest on each Class of Senior Certificates related to the Loan Group of such Mortgage Loan and each Class of related Subordinate Certificates pro rata, based on the amount of Accrued Certificate Interest otherwise owing to each such Class, in the case of the Senior Certificates, and the related Group Subordinate AmountApportioned Principal Balance, in the case of the Subordinate Subordinated Certificates, pursuant to clause (i) of the definition of Accrued Certificate Interest.

Appears in 2 contracts

Samples: Custodial Agreement (GSR Mortgage Loan Trust 2005-Ar7), Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2005-Ar4)

Interest Shortfall. Notwithstanding anything in the Standard Terms or this Trust Agreement to the contrary, on each Distribution Date, before any distributions are made on the Certificates, any Shortfall with respect to any Mortgage Loan shall be allocated to reduce the Accrued Certificate Interest on each Class of Senior Certificates related to the Loan Group of such Mortgage Loan and each Class of related Subordinate Certificates pro rata, based on the amount of Accrued Certificate Interest otherwise owing to each such Class, in the case of the Senior Certificates, and the related Group Subordinate AmountApportioned Principal Balance, in the case of the Subordinate Certificates, pursuant to clause (i) of the definition of Accrued Certificate Interest.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR 2006-Ar2)

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Interest Shortfall. Notwithstanding anything in the Standard Terms or this Trust Agreement to the contrary, on each Distribution Date, before any distributions are made on the Certificates, any Shortfall with respect to any Mortgage Loan shall be allocated to reduce the Accrued Certificate Interest on each Class of Senior Certificates related to the Loan Group of such Mortgage Loan and each Class of related Subordinate Certificates Certificates, pro rata, based on the amount of Accrued Certificate Interest otherwise owing to each such Class, in the case of the Senior Certificates, and the related Group Subordinate Amount, in the case of the Subordinate Certificates, pursuant to clause (i) of the definition of Accrued Certificate Interest.

Appears in 1 contract

Samples: Master Servicing and Trust Agreement (GSR Mortgage Loan Trust 2007-Ar2)

Interest Shortfall. Notwithstanding anything in the Standard Terms or this Trust Agreement herein to the contrary, on each Distribution Date, before any distributions are made on the Certificates, any Shortfall with respect to any Mortgage Loan shall be allocated to reduce the Accrued Certificate Interest on each Class of Senior Certificates related to the Loan Group of such Mortgage Loan and each Class of related Subordinate Certificates Certificates, pro rata, based on the amount of Accrued Certificate Interest otherwise owing to each such Class, in the case of the Senior Certificates, and the related Group Subordinate Amount, in the case of the Subordinate Certificates, pursuant to clause (i) of the definition of Accrued Certificate Interest.

Appears in 1 contract

Samples: Trust Agreement (GSR 2007-Oa2)

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