REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority: (i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any); (ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero; (iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero; (iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate; (v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero; (vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero; (x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero; (xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero; (xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero; (xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero; (xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero; (xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero; (xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero; (xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero; (xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above; (xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Ser 2001-Top1)
REMIC II. (a) On each Distribution Date, the Paying Agent on behalf of the Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 X Strip Rate (if any);
(ii) to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Certificate Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2 has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest N O as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses compounded monthly at one-twelfth of the applicable Pass-Through Rate;
; 85 95 (v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BB-1, REMIC II Regular Interest CB-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest BB-1, REMIC II Regular Interest CB-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, the product of one-twelfth of (a) the Certificate Balance of such Interest and (b) one-twelfth of the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2 A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-3A-4B, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), A-1A until the Certificate Balance of REMIC II Regular Interest A-1 A-1A is reduced to zero zero, and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1A, to the REMIC II Regular Interest A-1B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A), until the Certificate Balance of the REMIC II Regular Interest A-1B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1B, to the REMIC II Regular Interest A-1C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A and A-1B), until the Certificate Balance of the REMIC II Regular Interest A-1C has been reduced to zero; (B) second, to the REMIC II Regular Interest A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A, A-1B and A-1C), until the Certificate Balance of the REMIC II Regular Interest A-2A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2B, to the REMIC II Regular Interest A-2C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ ▇▇▇ ▇-▇▇), until the Certificate Balance of the REMIC II Regular Interest A-2C has been reduced to zero, (C) third, to the REMIC II Regular Interest A-3A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2C), until the Certificate Balance of the REMIC II Regular Interest A-3A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A, to the REMIC II Regular Interest A-3B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-3A), until the Certificate Balance of the REMIC II Regular Interest A-3B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3B, to the REMIC II Regular Interest A-3C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ ▇▇▇ ▇-▇▇), until the Certificate Balance of the REMIC II Regular Interest A-3C has been reduced to zero; and (D) fourth, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust Series 2004-Top15)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3A-2B, REMIC II Regular Interest A-4AA-3A, REMIC II Regular Interest A-4BA-3B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3A-2B, REMIC II Regular Interest A-4A A-3A and REMIC II Regular Interest A-4BA-3B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A and REMIC II Regular Interest A-3, A-3B in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and zero, (B) thensecond, to the REMIC II Regular Interest A-2 and A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-3, pro rataA-1), until the Certificate Balances Balance of the REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are A-2A has been reduced to zero;
(iii) zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-3A-2A, to the REMIC II Regular Interest A-4AA-2B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1 and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero and (C) third, to the REMIC II Regular Interest A-3A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 A-2A and A-3A-2B), until the Certificate Balance of the REMIC II Regular Interest A-4A A-3A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4AA-3A, to the REMIC II Regular Interest A-4BA-3B, the Principal Distribution Date Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇▇, ▇-▇▇ and A-4AA-3A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-3B has been reduced to zero;
(iviii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3A-2B, REMIC II Regular Interest A-4AA-3A, REMIC II Regular Interest A-4BA-3B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iviii), to reimburse any Realized Interest Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3A-2B, REMIC II Regular Interest A-4AA-3A, REMIC II Regular Interest A-4BA-3B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(viv) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(viv) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4BA-3B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3A-2B, REMIC II Regular Interest A-4A A-3A and REMIC II Regular Interest A-4BA-3B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(viivi) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viiivii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ixviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(xix) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xix) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xiixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiiixii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xivxiii) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep Series 2002-Hq)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest FE-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4A A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C and REMIC II Regular Interest A-4BA-2D, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest FE-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, the product of one-twelfth of (a) the Certificate Balance of such Interest and (b) one-twelfth of the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2 A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C and REMIC II Regular Interest A-3A-2D, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), A-1A until the Certificate Balance of REMIC II Regular Interest A-1 A-1A is reduced to zero zero, and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1A, to the REMIC II Regular Interest A-4AA-1B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3A-1A), until the Certificate Balance of the REMIC II Regular Interest A-4A A-1B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1B, to the REMIC II Regular Interest A-1C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A and A-1B), until the Certificate Balance of the REMIC II Regular Interest A-1C has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1C, to the REMIC II Regular Interest A-1D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, and A-1C), until the Certificate Balance of the REMIC II Regular Interest A-1D has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1D, to the REMIC II Regular Interest A-1E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1D), until the Certificate Balance of the REMIC II Regular Interest A-1E has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4AA-1E, to the REMIC II Regular Interest A-4BA-1F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1E), until the Certificate Balance of the REMIC II Regular Interest A-1F has been reduced to zero, and (B) second, to the REMIC II Regular Interest A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1F), until the Certificate Balance of the REMIC II Regular Interest A-2A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-4AA-2A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2B, to the REMIC II Regular Interest A-2C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, A-2A and A-2B), until the Certificate Balance of the REMIC II Regular Interest A-2C has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2C, to the REMIC II Regular Interest A-2D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2C), until the Certificate Balance of the REMIC II Regular Interest A-2D has been reduced to zero;
(iviii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest FE-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iviii), to reimburse any Realized Interest Losses previously allocated to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest FE-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest N O, in the case of all such Interests other than the REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C and REMIC II Regular Interest A-2D, as a result of the allocation of Realized Losses to the Class X Certificates plus and in the case of all such Interests, inclusive of one month's interest on such Realized Losses at one-twelfth of the applicable Pass-Through RateRate on such Realized Interest Losses;
(viv) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(viv) upon payment in full of the Certificate Balances Balance of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4BA-2D, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(viivi) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(viiivii) to the REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3 and REMIC II Regular Interest C-4 and , the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(ixviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest CC-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C C-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-1, to the REMIC II Regular Interest C-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-2 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-2, to the REMIC II Regular Interest C-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-3 has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-3, to the REMIC II Regular Interest C-4, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-4 has been reduced to zero;
(xix) to the REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3 and REMIC II Regular Interest C-4, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xix) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest Interests for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xiixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest CC-4, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiiixii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(xivxiii) to the REMIC II Regular Interest EE-1 and REMIC II Regular Interest E-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xvxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest EE-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E E-1 has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest EE-1, to the REMIC II Regular Interest FE-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F E-2 has been reduced to zero;
(xixxv) to the REMIC II Regular Interest FE-1 and REMIC II Regular Interest E-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxxvi) to the REMIC II Regular Interest F-1 and REMIC II Regular Interest F-2, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(xvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E-2, to the REMIC II Regular Interest F-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest F-1, to the REMIC II Regular Interest F-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F-2 has been reduced to zero;
(xviii) to the REMIC II Regular Interest F-1 and REMIC II Regular Interest F-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest at the applicable Pass-Through Rate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xix) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxixx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMRegu
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Ser 2003 Hq2)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NX-1, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and Date, (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 X Strip Rate (if any)) and (C) in the case of REMIC II Regular Interest X-1, the Class X-1 Interest Amount;
(ii) to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Certificate Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2 has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N N, as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, A-2 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest JI, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest JI, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest I has been reduced to zero;
(xxviii) to the REMIC II Regular Interest I, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest I, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest I), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviiixxxi) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxixxxxii) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxxxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J I and REMIC II Regular Interest KJ), until the Certificate Balance of the REMIC II Regular Interest L K has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest LK, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest ML, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K, to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxvii) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at the applicable Pass-Through Rate;
(xxxviii) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L, to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4AC, REMIC II Regular Interest A-4BD, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K and REMIC II Regular Interest L), until the Certificate Balance of the REMIC II Regular Interest M has been reduced to zero;
(xl) to the REMIC II Regular Interest M, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at the applicable Pass-Through Rate;
(xli) to the REMIC II Regular Interest N, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xlii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest M, to the REMIC II Regular Interest N, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest B, REMIC II Regular Interest C, REMREMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L and REMIC II Regular Interest M), until the Certificate Balance of the REMIC II Regular Interest N has been reduced to zero;
(xliii) to the REMIC II Regular Interest N, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at the applicable Pass-Through Rate; and (xliv) thereafter, to the Class R-II Certificateholders.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest CB-1, REMIC II Regular Interest DB-2, REMIC II Regular Interest EB-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4A A-1D, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest A-4BA-4C, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest BB-1, REMIC II Regular Interest CB-2, REMIC II Regular Interest DB-3, REMIC II Regular Interest EC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, the product of one-twelfth of (a) the Certificate Balance of such Interest and (b) one-twelfth of the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2 A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest A-3A-4C, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), A-1A until the Certificate Balance of REMIC II Regular Interest A-1 A-1A is reduced to zero zero, and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1A, to the REMIC II Regular Interest A-1B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A), until the Certificate Balance of the REMIC II Regular Interest A-1B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1B, to the REMIC II Regular Interest A-1C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A and A-1B), until the Certificate Balance of the REMIC II Regular Interest A-1C has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1C, to the REMIC II Regular Interest A-1D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A, A-1B and A-1C), until the Certificate Balance of the REMIC II Regular Interest A-1D has been reduced to zero; (B) second, to the REMIC II Regular Interest A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1D), until the Certificate Balance of the REMIC II Regular Interest A-2A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero; (C) third, to the REMIC II Regular Interest A-3A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ ▇▇▇ ▇-▇▇), until the Certificate Balance of the REMIC II Regular Interest A-3A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A, to the REMIC II Regular Interest A-3B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-3A), until the Certificate Balance of the REMIC II Regular Interest A-3B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3B, to the REMIC II Regular Interest A-3C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, A-3A and A-3B), until the Certificate Balance of the REMIC II Regular Interest A-3C has been reduced to zero; and (D) fourth, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇▇, A-2 ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-3A-3C), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇▇, REMIC II Regular Interest A-2▇-▇▇, REMIC II Regular Interest A-3▇-▇▇, REMIC II Regular Interest A-4A ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and REMIC II Regular Interest A-4BA-4A), until the Certificate Balance of the REMIC II Regular Interest B A-4B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest BA-4B, to the REMIC II Regular Interest CA-4C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, A-3C, A-4A and A-4B), until the Certificate Balance of the REMIC II Regular Interest A-4C has been reduced to zero;
(iii) to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H-1, REMIC II Regular Interest H-2, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N and REMIC II Regular Interest O, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iii), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H-1, REMIC II Regular Interest H-2, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N and REMIC II Regular Interest O, in the case of all such Interests other than the REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B)A-4C, until the Certificate Balance as a result of the REMIC II Regular Interest C has been reduced allocation of Realized Losses to zerothe Class X Certificates and in the case of all such Interests, inclusive of accrued and unpaid interest at the applicable Pass-Through Rate on such Realized Losses;
(xiv) to the REMIC II Regular Interest CB-1, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest DB-2 and REMIC II Regular Interest B-3, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(xiiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest CA-4C, to the REMIC II Regular Interest DB-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D B-1 has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest DB-1, to the REMIC II Regular Interest EB-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E B-2 has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest EB-2, to the REMIC II Regular Interest FB-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F B-3 has been reduced to zero;
(xixvi) to the REMIC II Regular Interest FB-1, REMIC II Regular Interest B-2 and REMIC II Regular Interest B-3, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus accrued and unpaid interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxvii) to the REMIC II Regular Interest GC-1, REMIC II Regular Interest C-2 and REMIC II Regular Interest C-3, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(xxiviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest FB-3, to the REMIC II Regular Interest GC-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest Fpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G C-1 has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest GC-1, to the REMIC II Regular Interest HC-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest Gpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest H C-2 has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest HC-2, to the REMIC II Regular Interest JC-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest Hpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest J C-3 has been reduced to zero;
(xxviiiix) to the REMIC II Regular Interest JC-1, REMIC II Regular Interest C-2 and REMIC II Regular Interest C-3, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus accrued and unpaid interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxixx) to the REMIC II Regular Interest KD-1 and REMIC II Regular Interest D-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xxxxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J C-3, to the REMIC II Regular Interest KD-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest Jpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest K D-1 has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest K D-1, to the REMIC II Regular Interest LD-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest Kpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest L D-2 has been reduced to zero;
(xxxivxii) to the REMIC II Regular Interest LD-1 and REMIC II Regular Interest D-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus accrued and unpaid interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxxvxiii) to the REMIC II Regular Interest ME-1 and REMIC II Regular Interest E-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xxxvixiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L D-2, to the REMIC II Regular Interest ME-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMby
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mort Sec Tru 2003-Top12)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest BA-2A, REMIC II Regular Interest CA-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest KK-1, REMIC II Regular Interest K-2, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2003-Top10)
REMIC II. (a) On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder apply 0.1% of the REMIC II Distribution Amount (such 0.1% thereof, the "Sub-REMIC II Distribution Amount") for such date for the following purposes and in the following order of priority:
(i) to pay interest to REMIC III in respect of REMIC II Regular Interests ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇, ▇▇▇, ▇▇▇ and IO-2, up to an amount equal to, and pro rata in accordance with, (A) in the case of each of REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C and REMIC II Regular Interest A-2, the amount of Uncertificated Distributable Interest in respect of such REMIC II Regular Interest for such Distribution Date, (B) in the case of each of REMIC II Regular Interest LG1 and REMIC II Regular Interest LG2, 0.1% of the amount of the Class IO-1 Share of the Uncertificated Distributable Interest in respect of such REMIC II Regular Interest for such Distribution Date, and (C) in the case of REMIC II Regular Interest IO-2, 0.1% of the amount of the Uncertificated Distributable Interest in respect of such REMIC II Regular Interest for such Distribution Date;
(ii) to pay principal to REMIC III: (A) from the Principal Distribution Amount for Loan Group 1 for such Distribution Date, first in respect of REMIC II Regular Interest A-1A, second in respect of REMIC II Regular Interest A-1B, third in respect of REMIC II Regular Interest A-1C, and fourth in respect of REMIC II Regular Interest A-2, in each case, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest and (2) the remaining portion of an amount equal to 0.1% of such Principal Distribution Amount; and (B) from the Principal Distribution Amount for Loan Group 2 for such Distribution Date, first in respect of REMIC II Regular Interest A-2, second in respect of REMIC II Regular Interest A-1A, third in respect of REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, and fourth in respect of REMIC II Regular Interest A-1C, in each case, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest and (2) the remaining portion of an amount equal to 0.1% of such Principal Distribution Amount; provided that, if the remaining portion of the Sub-REMIC II Distribution Amount for such Distribution Date that is distributable pursuant to this clause (ii), is less than 0.1% of the Aggregate Principal Distribution Amount for such date, payments pursuant to subclauses (A) and (B) of this clause (ii) shall be deemed made on a pro rata basis in accordance with the relative sizes of the Principal Distribution Amounts for the two Loan Groups for such Distribution Date;
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C and REMIC II Regular Interest A-2 (with interest), up to an amount equal to, and pro rata as among such REMIC II Regular Interests in accordance with, the Loss Reimbursement Amount in respect of each such REMIC II Regular Interest for such Distribution Date; and
(iv) to make payments to REMIC III in respect of REMIC II Regular Interests B, C, D, E, F, G, H and J as contemplated below; provided that, on each Distribution Date after the aggregate of the Uncertificated Principal Balances of REMIC II Regular Interests B, C, D, E, F, G, H and J has been reduced to zero, and in any event on the final Distribution Date in connection with a termination of the Trust, the payments of principal to be deemed made pursuant to clause (ii) above, will be deemed so made to REMIC III in respect of REMIC II Regular Interests ▇-▇▇, ▇-▇▇, ▇-▇▇ ▇▇▇ ▇-▇, up to an amount equal to, and pro rata as among such REMIC II Regular Interests in accordance with, the respective then Uncertificated Principal Balances of such REMIC II Regular Interests, and without regard to the Principal Distribution Amounts with respect to the two Loan Groups for such date. On each Distribution Date, following the foregoing series of deemed payments, the Trustee shall be deemed to apply the remaining portion, if any, of the Sub-REMIC II Distribution Amount for such date that was deemed applied to such payments, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates pay interest to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests III in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case respect of REMIC II Regular Interest B, up to an amount equal to all Uncertificated Distributable Interest in respect of such REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of for such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any)Distribution Date;
(ii) to pay principal to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, III in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances respect of REMIC II Regular Interest A-1 and B, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest A-3 divided by the sum and (2) an amount equal to 0.1% of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Aggregate Principal Distribution Amount for such Distribution Date (reduced by net of any portion thereof payments of principal deemed made to be distributed to the REMIC III in respect of REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-4AA-2 on such Distribution Date), until the Certificate Balance of the ;
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-4B has been reduced B (with interest), up to zeroan amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(iv) to pay interest to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, III in respect of REMIC II Regular Interest C, up to an amount equal to all Uncertificated Distributable Interest in respect of such REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements for such Distribution Date;
(v) to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated pay principal to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, III in respect of REMIC II Regular Interest C, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result (2) an amount equal to 0.1% of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Aggregate Principal Distribution Amount for such Distribution Date (reduced by net of any portion thereof payments of principal deemed made to be distributed REMIC III in respect of REMIC II Regular ▇▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇ and B on such Distribution Date);
(vi) to the reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1C (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zerofor such Distribution Date;
(vii) to the pay interest to REMIC III in respect of REMIC II Regular Interest BD, up to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on an amount equal to all Uncertificated Distributable Interest in respect of such Realized Losses at one-twelfth the applicable Pass-Through RateREMIC II Regular Interest for such Distribution Date;
(viii) to the pay principal to REMIC III in respect of REMIC II Regular Interest CD, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date up to an amount equal to the extent not distributed pursuant to clause lesser of (i1) above;
(ix) upon payment in full of the Certificate then Uncertificated Principal Balance of the such REMIC II Regular Interest B, and (2) an amount equal to 0.1% of the REMIC II Regular Interest C, the Aggregate Principal Distribution Amount for such Distribution Date (reduced by net of any portion thereof payments of principal deemed made to be distributed REMIC III in respect of REMIC II Regular ▇▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇, ▇ and C on such Distribution Date);
(ix) to the reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1D (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zerofor such Distribution Date;
(x) to the pay interest to REMIC III in respect of REMIC II Regular Interest CE, up to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on an amount equal to all Uncertificated Distributable Interest in respect of such Realized Losses at one-twelfth the applicable Pass-Through RateREMIC II Regular Interest for such Distribution Date;
(xi) to the pay principal to REMIC III in respect of REMIC II Regular Interest DE, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date up to an amount equal to the extent not distributed pursuant to clause lesser of (i1) above;
(xii) upon payment in full of the Certificate then Uncertificated Principal Balance of the such REMIC II Regular Interest C, and (2) an amount equal to 0.1% of the REMIC II Regular Interest D, the Aggregate Principal Distribution Amount for such Distribution Date (reduced by net of any portion thereof payments of principal deemed made to be distributed REMIC III in respect of REMIC II Regular Interests ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇, ▇, ▇ and D on such Distribution Date);
(xii) to the reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1E (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zerofor such Distribution Date;
(xiii) to the pay interest to REMIC III in respect of REMIC II Regular Interest DF, up to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on an amount equal to all Uncertificated Distributable Interest in respect of such Realized Losses at one-twelfth the applicable Pass-Through RateREMIC II Regular Interest for such Distribution Date;
(xiv) to the pay principal to REMIC III in respect of REMIC II Regular Interest EF, up to an amount equal to the remainder lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest and (2) an amount equal to 0.1% of the Distributable Certificate Interest for such Interest Aggregate Principal Distribution Amount for such Distribution Date Amount (net of any payments of principal deemed made to the extent not distributed pursuant to clause (i) aboveREMIC III in respect of REMIC II Regular Interests ▇-▇▇, ▇- ▇▇, ▇-▇▇, ▇-▇, ▇, ▇, ▇ and E on such Distribution Date);
(xv) upon payment in full of the Certificate Balance of the to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest DF (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest Efor such Distribution Date;
(xvi) to pay interest to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to all Uncertificated Distributable Interest in respect of such REMIC II Regular Interest for such Distribution Date;
(xvii) to pay principal to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest and (2) an amount equal to 0.1% of the Aggregate Principal Distribution Amount for such Distribution Amount (net of any payments of principal deemed made to REMIC III in respect of REMIC II Regular Interests for ▇-▇▇, ▇- ▇▇, ▇-▇▇, ▇-▇, B, C, D, E and F on such Distribution Date);
(xviii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest G (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xix) to pay interest to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to all Uncertificated Distributable Interest in respect of such REMIC II Regular Interest for such Distribution Date;
(xx) to pay principal to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest and (2) an amount equal to 0.1% of the Aggregate Principal Distribution Amount for such Distribution Date (reduced by net of any portion thereof payments of principal deemed made to be distributed REMIC III in respect of REMIC II Regular Interests ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇, ▇, ▇, ▇, ▇, ▇ ▇▇▇ ▇ on such Distribution Date);
(xxi) to the reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1H (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date;
(xxii) to pay interest to REMIC III in respect of REMIC II Regular Interest A-3J, up to an amount equal to all Uncertificated Distributable Interest in respect of such REMIC II Regular Interest A-4A, for such Distribution Date;
(xxiii) to pay principal to REMIC III in respect of REMIC II Regular Interest A-4BJ, up to an amount equal to the lesser of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance (2) an amount equal to 0.1% of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Aggregate Principal Distribution Amount for such Distribution Date Amount (reduced by net of any portion thereof payments of principal deemed made to be distributed REMIC III in respect of REMIC II Regular Interests ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇, ▇, ▇, ▇, ▇, ▇, ▇ and H on such Distribution Date); and
(xxiv) to the reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1J (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2for such Distribution Date; provided that, on the final Distribution Date in connection with a termination of the Trust, the payments of principal to be deemed made pursuant to any of clauses (ii), (v), (viii), (xi), (xiv), (xvii), (xx) and (xxiii) above in respect of REMIC II Regular Interest A-3Interests B, C, D, E, F, G, H and J, will be deemed so made to REMIC III in respect of each such REMIC II Regular Interest A-4AInterest, up to an amount equal to the then Uncertificated Principal Balance of such REMIC II Regular Interest A-4BInterest, and without regard to the Aggregate Principal Distribution Amount for such date. On each Distribution Date, following the foregoing two series of deemed payments, the Trustee shall be deemed to apply the entire remaining REMIC II Distribution Amount (including without limitation any remaining portion of the Sub-REMIC II Distribution Amount) for such date not otherwise deemed applied to make such respective series of payments contemplated by the preceding two paragraphs, for the following purposes and in the following order of priority:
(i) to pay interest to REMIC III in respect of REMIC II Regular Interests LG1, LG2 and IO-2, up to an amount equal to, and pro rata in accordance with, all Uncertificated Distributable Interest B, REMIC Regular Interest C, in respect of each such REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date (net of any portion of such interest deemed paid on such Distribution Date pursuant to the extent not distributed pursuant to clause (i) aboveforegoing provisions of this Section 6.3(a));
(xxiii) upon payment to pay principal to REMIC III: (A) in full respect of REMIC II Regular Interest LG1, up to an amount equal to the excess, if any, of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest, over (2) an amount equal to 99.9% of the Certificate aggregate Stated Principal Balance of Loan Group 1 that will be outstanding immediately following such Distribution Date; and (B) in respect of REMIC II Regular Interest LG2, up to an amount equal to the excess, if any, of (1) the then Uncertificated Principal Balance of such REMIC II Regular Interest, over (2) an amount equal to 99.9% of the aggregate Stated Principal Balance of Loan Group 2 that will be outstanding immediately following such Distribution Date; provided that, if the remaining portion of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date that is distributable pursuant to this clause (reduced by any portion thereof deemed ii), is less than the aggregate of the two excesses referred to be distributed in subclauses (A) and (B) of this clause (ii), payments pursuant to the this clause (ii) in respect of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E LG1 and REMIC II Regular Interest FLG2, respectively, shall be deemed made on a pro rata basis in accordance with the relative sizes of such excesses; and
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest LG1 and REMIC II Regular Interest LG2 (with interest), until up to an amount equal to, and pro rata as between such REMIC II Regular Interests in accordance with, the Certificate Balance respective Loss Reimbursement Amounts in respect of such REMIC II Regular Interests for such Distribution Date; provided that, on the final Distribution Date in connection with a termination of the Trust, the payments of principal to be deemed made pursuant to clause (ii) above, will be deemed so made to REMIC III in respect of REMIC II Regular Interests LG1 and LG2, up to an amount equal to, and pro rata as between such REMIC II Regular Interests in accordance with, the respective then Uncertificated Principal Balances of such REMIC II Regular Interests.
(b) On each Distribution Date, the Trustee shall pay to the Holders of the Class R-II Certificates that portion, if any, of the REMIC II Distribution Amount for such date that has not otherwise been deemed paid to REMIC III in respect of the REMIC II Regular Interest G has been reduced Interests pursuant to zero;Section 6.3(a).
(xxiic) On each Distribution Date, the Trustee shall be deemed to apply all Prepayment Premiums then on deposit in the Distribution Account and received during or prior to the related Collection Period, to pay additional interest to REMIC III in respect of REMIC II Regular Interest GLG1, in the case of each such Prepayment Premium received with respect to reimburse any unreimbursed Realized Losses previously allocated theretoa Group 1 Loan, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G)LG2, until in the Certificate Balance case of the REMIC II Regular Interest H has been reduced each such Prepayment Premium received with respect to zero;a Group 2 Loan.
(xxvd) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
All amounts (xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMot
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
REMIC II. (a) It is the intention of the parties hereto that the distributions set forth below result in the Uncertificated Principal Balances of each Class of REMIC II Regular Interests and its corresponding Class of Certificates being equal. On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder of apply the REMIC II Regular Interests, Distribution Amount for such date for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates distributions of interest to REMIC III in respect of REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-1B and REMIC II Regular Interest A-2, REMIC II Regular pro rata, up to an amount equal to all Uncertificated Distributable Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among on such REMIC II Regular Interests for such Distribution Date;
(ii) to distributions of principal to REMIC III: (a) from the Principal Distribution Amount with respect to Loan Group 1 for such Distribution Date, first in proportion to (A) in the case respect of the REMIC II Regular Interest A-1A-1A, second in respect of REMIC II Regular Interest A-1B and third in respect of REMIC II Regular Interest A-2, and (b) from the Principal Distribution Amount with respect to Loan Group 2 for such Distribution Date, first in respect of REMIC II Regular Interest A-3A-2, second in respect of REMIC II Regular Interest A-1A and third in respect of REMIC II Regular Interest A-1B, in each case, until the Uncertificated Principal Balances thereof are reduced to zero;
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 A-1B and REMIC II Regular Interest A-2, pro rata (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-1 allocation based upon the sum Interests for such Distribution Date;
(iv) to distributions of the Certificate Balances interest to REMIC III in respect of REMIC II Regular Interest A-1 and B, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-3 divided by the sum for such Distribution Date;
(v) to distributions of the Certificate Balances principal to REMIC III in respect of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3)B, until the Certificate Uncertificated Principal Balance of REMIC II Regular Interest A-1 thereof is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iiivi) upon payment in full of the Certificate Balance of the to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-3B (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date Date;
(reduced by any portion thereof deemed vii) to be distributed distributions of interest to the REMIC III in respect of REMIC II Regular Interest A-1C, A-2 and A-3), until the Certificate Balance of the up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-4A has been reduced for such Distribution Date;
(viii) to zero and upon payment distributions of principal to REMIC III in full respect of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A)C, until the Certificate Uncertificated Principal Balance of the REMIC II Regular Interest A-4B has been thereof is reduced to zero;
(ivix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1C (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date;
(x) to distributions of interest to REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, III in respect of REMIC II Regular Interest D, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xi) to distributions of principal to REMIC III in respect of REMIC II Regular Interest D, until the Uncertificated Principal Balance thereof is reduced to zero;
(xii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest D (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xiii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest E, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xiv) to distributions of principal to REMIC III in respect of REMIC II Regular Interest E, until the Uncertificated Principal Balance thereof is reduced to zero;
(xv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest E (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xvi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest F, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xvii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest F, until the Uncertificated Principal Balance thereof is reduced to zero;
(xviii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest F (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xix) to distributions of interest to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xx) to distributions of principal to REMIC III in respect of REMIC II Regular Interest G, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest G (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxiii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest H, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxiv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest H (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest J, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxvi) to distributions of principal to REMIC III in respect of REMIC II Regular Interest J, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxvii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest J (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date.
(xxviii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest K, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxix) to distributions of principal to REMIC III in respect of REMIC II Regular Interest K, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxx) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest K (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date.
(xxxi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest L, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest M and for such Distribution Date;
(xxxii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest NL, pro rata on until the basis of their respective entitlements Uncertificated Principal Balance thereof is reduced to reimbursement described in this clause zero; and
(iv), xxxiii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1L (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date.
(b) On each Distribution Date, the Trustee shall be deemed to apply all Prepayment Premiums then on deposit in the Distribution Account and received during or prior to the extent not distributed pursuant related Collection Period, to clause (i) above;
(vi) upon payment pay additional interest to REMIC III in full of the Certificate Balances respect of the REMIC II Regular Interest A-1, Interests.
(c) All amounts (other than additional interest in the form of Prepayment Premiums) deemed paid to REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance III in respect of the REMIC II Regular Interest B has been reduced Interests pursuant to zero;
(vii) this Section 6.3 on any Distribution Date is herein referred to as the "REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest III Distribution Amount" for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMdate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
REMIC II. (a) On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trusteeitself, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest NP, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest NP, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 X Strip Rate (if any);
(ii) to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Certificate Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2 has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest NP, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest N P as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses compounded monthly at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, A-2 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC Regular Interest C, REMIC II Regular Interest A-4AD, REMIC II Regular Interest A-4BE, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K and REMIC II Regular Interest L), until the Certificate Balance of the REMIC II Regular Interest M has been reduced to zero;
(xxxvii) to the REMIC II Regular Interest M, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxxviii) to the REMIC II Regular Interest N, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest M to the REMIC II Regular Interest N, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest B, REMIC Regular Interest C, REMREMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L and REMIC II Regular Interest M), until the Certificate Balance of the REMIC II Regular Interest N has been reduced to zero;
(xl) to the REMIC II Regular Interest N, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xli) to the REMIC II Regular Interest O, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xlii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest N to the REMIC II Regular Interest O, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M, and REMIC II Regular Interest N), until the Certificate Balance of the REMIC II Regular Interest O has been reduced to zero;
(xliii) to t
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Depositor for Ser 1999-Life1)
REMIC II. (a) It is the intention of the parties hereto that the distributions set forth below result in the Certificate Principal Balances of each Class of REMIC II Regular Interests and its corresponding Class of Certificates being equal. On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder of apply the REMIC II Regular Interests, Distribution Amount for such date for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates distributions of interest to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests III in proportion to (A) in the case respect of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, up to an amount equal to (and pro rata in accordance with) all Uncertificated Distributable Interest on such REMIC II Regular Interests for such Distribution Date;
(with the ii) to distributions of principal to REMIC III in respect of first, REMIC II Regular Interest A-1 allocation based upon A-1, and second, REMIC II Regular Interest A-2, in each case up to an amount equal to the sum lesser of (1) the Certificate Balances then outstanding Uncertificated Principal Balance of such Class and (2) the remaining portion, if any, of such REMIC II Distribution Amount;
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by A-2 (with interest), up to an amount equal to (and pro rata in accordance with) the sum Loss Reimbursement Amount in respect of the Certificate Balances such REMIC II Regular Interest for such Distribution Date;
(iv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest A-1B, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-2 and for such Distribution Date;
(v) to distributions of principal to REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances III in respect of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3)B, until the Certificate Uncertificated Principal Balance of REMIC II Regular Interest A-1 thereof is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iiivi) upon payment in full of the Certificate Balance of the to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-3B (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date Date;
(reduced by any portion thereof deemed vii) to be distributed distributions of interest to the REMIC III in respect of REMIC II Regular Interest A-1C, A-2 and A-3), until the Certificate Balance of the up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-4A has been reduced for such Distribution Date;
(viii) to zero and upon payment distributions of principal to REMIC III in full respect of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A)C, until the Certificate Uncertificated Principal Balance of the REMIC II Regular Interest A-4B has been thereof is reduced to zero;
(ivix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1C (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date;
(x) to distributions of interest to REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, III in respect of REMIC II Regular Interest D, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xi) to distributions of principal to REMIC III in respect of REMIC II Regular Interest D, until the Uncertificated Principal Balance thereof is reduced to zero;
(xii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest D (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xiii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest E, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xiv) to distributions of principal to REMIC III in respect of REMIC II Regular Interest E, until the Uncertificated Principal Balance thereof is reduced to zero;
(xv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest E (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xvi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest F, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xvii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest F, until the Uncertificated Principal Balance thereof is reduced to zero;
(xviii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest F (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xix) to distributions of interest to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xx) to distributions of principal to REMIC III in respect of REMIC II Regular Interest G, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest G (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxiii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest H, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxiv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest H (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest J, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxvi) to distributions of principal to REMIC III in respect of REMIC II Regular Interest J, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxvii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest J (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxviii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest K, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxix) to distributions of principal to REMIC III in respect of REMIC II Regular Interest K, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxx) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest K (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxxi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest L, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxxii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest L, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxxiii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest L (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxxiv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest M, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxxv) to distributions of principal to REMIC III in respect of REMIC II Regular Interest M, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxxvi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest M and (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxxvii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest N, pro rata up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxxviii) to distributions of principal to REMIC III in respect of REMIC II Regular Interest N, until the basis of their respective entitlements Uncertificated Principal Balance thereof is reduced to reimbursement described in this clause zero;
(iv), xxxix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1N (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date; (xl) to distributions of interest to REMIC III in respect of REMIC II Regular Interest A-3O, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) aboveDate;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Depositor for Series 1999-Fnv1)
REMIC II. (a) On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trusteeitself, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4BA-2B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, K and REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A A-2A and REMIC II Regular Interest A-4BA-2B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular 80 88 Interest K, K and REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-1 has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest CA-4D, REMIC II Regular Interest DB-1, REMIC II Regular Interest EB-2, REMIC II Regular Interest FB-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest JJ-1, REMIC II Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest NP, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4A A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C and REMIC II Regular Interest A-4BA-4D, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest BB-1, REMIC II Regular Interest CB-2, REMIC II Regular Interest DB-3, REMIC II Regular Interest EC-1, REMIC II Regular Interest FC-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest JJ-1, REMIC II Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest P, the product of one-twelfth of (a) the Certificate Balance of such Interest and (b) one-twelfth of the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2 A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C and REMIC II Regular Interest A-3A-4D, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), A-1A until the Certificate Balance of REMIC II Regular Interest A-1 A-1A is reduced to zero zero, and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1A, to the REMIC II Regular Interest A-1B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A), until the Certificate Balance of the REMIC II Regular Interest A-1B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1B, to the REMIC II Regular Interest A-1C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A and A-1B), until the Certificate Balance of the REMIC II Regular Interest A-1C has been reduced to zero; (B) second, to the REMIC II Regular Interest A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A, A-1B and A-1C), until the Certificate Balance of the REMIC II Regular Interest A-2A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero, (C) third, to the REMIC II Regular Interest A-3A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ ▇▇▇ ▇-▇▇), until the Certificate Balance of the REMIC II Regular Interest A-3A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A, to the REMIC II Regular Interest A-3B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-3A), until the Certificate Balance of the REMIC II Regular Interest A-3B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3B, to the REMIC II Regular Interest A-3C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, A-3A and A-3B), until the Certificate Balance of the REMIC II Regular Interest A-3C has been reduced to zero; and (D) fourth, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇▇▇▇▇▇▇▇ ▇-▇▇, A-2 ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, A-3A and A-3A-3B), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇▇, REMIC II Regular Interest A-2▇-▇▇, REMIC II Regular Interest A-3▇-▇▇, REMIC II Regular Interest A-4A ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and REMIC II Regular Interest A-4BA-4A), until the Certificate Balance of the REMIC II Regular Interest B A-4B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest BA-4B, to the REMIC II Regular Interest CA-4C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇,
▇- ▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, A-3C, A-4A and A-4B), until the Certificate Balance of the REMIC II Regular Interest A-4C has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-4C, to the REMIC II Regular Interest A-4D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇▇, REMIC II Regular Interest A-2▇-▇▇, REMIC II Regular Interest A-3▇-▇▇, REMIC II Regular Interest A-4A▇-▇▇, REMIC II Regular Interest A-4B ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and REMIC II Regular Interest BA-4C), until the Certificate Balance of the REMIC II Regular Interest C A-4D has been reduced to zero;
(xiii) to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C, REMIC II Regular Interest A-4D, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J-1, REMIC II Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest P, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iii), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C, REMIC II Regular Interest A-4D, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J-1, REMIC II Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N, REMIC II Regular Interest O and REMIC II Regular Interest P, but in the case of all such Interests other than the REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest A-4C and REMIC II Regular Interest A-4D, only as a result of the allocation of Realized Losses to the Class X Certificates and in the case of all such Interests, inclusive of accrued and unpaid interest at the applicable Pass-Through Rate on such Realized Losses;
(iv) to the REMIC II Regular Interest CB-1, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest DB-2 and REMIC II Regular Interest B-3, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(xiiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest CA-4D, to the REMIC II Regular Interest DB-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D B-1 has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest DB-1, to the REMIC II Regular Interest EB-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E B-2 has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest EB-2, to the REMIC II Regular Interest FB-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F B-3 has been reduced to zero;
(xixvi) to the REMIC II Regular Interest FB-1, REMIC II Regular Interest B-2 and REMIC II Regular Interest B-3, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus accrued and unpaid interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxvii) to the REMIC II Regular Interest GC-1 and REMIC II Regular Interest C-2, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(xxiviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest FB-3, to the REMIC II Regular Interest GC-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest Fpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G C-1 has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest GC-1, to the REMIC II Regular Interest HC-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest Gpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest H C-2 has been reduced to zero;
(xxvix) to the REMIC II Regular Interest HC-1 and REMIC II Regular Interest C-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus accrued and unpaid interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxvix) to the REMIC II Regular Interest JD-1 and REMIC II Regular Interest D-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xxviixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest HC-2, to the REMIC II Regular Interest JD-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest Hpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest J D-1 has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest J D-1, to the REMIC II Regular Interest KD-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest Jpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest K D-2 has been reduced to zero;
(xxxixii) to the REMIC II Regular Interest KD-1 and REMIC II Regular Interest D-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus accrued and unpaid interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxxiixiii) to the REMIC II Regular Interest LE-1 and REMIC II Regular Interest E-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xxxiiixiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K D-2, to the REMIC II Regular Interest LE-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest Kpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest L E-1 has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest L E-1, to the REMIC II Regular Interest ME-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Sec Inc Trust 2004 Top14)
REMIC II. (a) On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trusteeitself, as holder of the REMIC II Regular Interests, from amounts deemed received on the REMIC I Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate the Interest Distribution Amount for the Class A-1 A1 Certificates, Class A-2 A2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 A3 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, and REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, each for such Distribution Date divided among such REMIC II Regular Interests in proportion to (Aa) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, A-2 and REMIC II Regular Interest A-3, REMIC II Regular the Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Accrual Amount for such Interest for such Distribution Date and (Bb) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, and REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of the Class Balance of such Interest and one-twelfth of the Certificate Balance Component Strip Rate for the Corresponding Certificate, plus the amount of such Interest and the sum any unpaid portion of the related Class X-1 Strip Rate and respective Interest Distribution Amounts allocated under this clause (i) on prior Distribution Dates but remaining unpaid, together with interest thereon at the related Class X-2 Strip Rate (if any)applicable Pass- Through Rate;
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Class Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Class Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II
(iv) upon payment in full of the Class Balance of the REMIC II Regular Interest A-2, to the REMIC II Regular Interest A-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 A-1 and A-3REMIC II Regular Interest A-2), until the Certificate Class Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-3 has been reduced to zero;
(ivv) subject to the proviso in clause (vii) below, and to the extent not paid pursuant to clause (i) above, an amount equal to the respective Interest Distribution Amount for such Distribution Date for the Class of REMIC II Regular Interests then outstanding with the highest priority for interest payment as set forth below, plus the amount of any unpaid portion of the respective Interest A-1Distribution Amount allocated under this clause (v) on prior Distribution Dates but remaining unpaid, together with interest thereon at the applicable Pass- Through Rate;
(vi) subject to the proviso in clause (vii) below, to distributions of principal equal to the remaining Principal Distribution Amount to the Classes of REMIC II Regular Interest A-2Interests then outstanding in the order set forth below;
(vii) sequentially, to distributions of interest to the remaining REMIC II Regular Interests in the priority set forth below in an amount equal to the Interest A-3Distribution Amounts in respect thereof for such Distribution Date and any unpaid portion of respective Interest Distribution Amounts in respect thereof for any prior Distribution Date together with interest thereon at the applicable Pass-Through Rate, provided that on any Distribution Date on which the Class Balance of a Class of REMIC II Regular Interest A-4AInterests is reduced to zero pursuant to clause (vi) above, interest distributions pursuant to clause (v) above will be made to the Class of Certificates outstanding with the next highest priority for interest payments prior to making distributions of principal on such Class pursuant to clause (vi) above;
(viii) sequentially to the Classes of REMIC II Regular Interest A-4BInterests in the order set forth below for distribution of principal any amounts recovered representing Realized Losses previously allocated to such Class in reduction of its Class Balance; and
(ix) to distributions to the Class R-II Certificateholders, in an amount equal to the balance, if any. The priority for interest payments for purposes of clauses (v) and (vii) above, is: first, to distributions of remaining interest on the REMIC II Regular Interest B; second, to distributions of remaining interest on the REMIC II Regular Interest C; third, to distributions of remaining interest on the REMIC II Regular Interest D; fourth, to distributions of remaining interest on the REMIC II Regular Interest E; fifth, to distributions of remaining interest on the REMIC II Regular Interest F, ; and then sequentially to the REMIC II Regular Interest G, REMIC II Regular Interest HInterest, REMIC II Regular Interest JInterest, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of L up to their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Amounts. The Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMset
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Amresco Commercial Mortgage Funding I Corp)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and zero, (B) thensecond, to the REMIC II Regular Interest A-2 and A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-3, pro rataA-1), until the Certificate Balances Balance of the REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are A-2A has been reduced to zero;
(iii) zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1 and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero, (C) third, to the REMIC II Regular Interest A-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2A and A-2B) until the Certificate Balance of REMIC II Regular Interest A-3 is reduced to zero and (D) fourth, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇, A-2 ▇-▇▇, ▇-▇▇ and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇▇, ▇-▇▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iviii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iviii), to reimburse any Realized Interest Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(viv) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(viv) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(viivi) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viiivii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ixviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(xix) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xix) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xiixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiiixii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xivxiii) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xvxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvixv) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xviixvi) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviiixvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xixxviii) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxix) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxixx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest Fpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxiixxi) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiiixxii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxivxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest Gpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxvxxiv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvixxv) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxviixxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest Hpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviiixxvii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxixxxviii) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxxxix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest Jpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxixxx) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxiixxxi) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiiixxxii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest Kpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxivxxxiii) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxvxxxiv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvixxxv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest M has been reduced to zero;
(xxxvi) to the REMIC II Regular Interest A-1M, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxvii) to the REMIC II Regular Interest A-2N, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, M to the REMIC II Regular Interest A-4AN, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest A-4B, N has been reduced to zero;
(xxxix) to the REMIC II Regular Interest BN, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xl) thereafter, to the Class R-II Certificateholders at such time as the Certificate Balances of all Classes of REMIC II Regular Interest CInterests have been reduced to zero, REMand Realized Losses previously allocated thereto have been reimbursed to the Holders of the REMIC II Regular Interests, any amounts remaining.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Series 2001-Top)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest CB-1, REMIC II Regular Interest DB-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest D-3, REMIC II Regular Interest E, REMIC II Regular Interest FF-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest JJ-1, REMIC II Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and M, REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A O and REMIC II Regular Interest A-4BP, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stan Dean Wit Cap Com Mort Ps THR CRTS Ser 2003-Top13)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest CA-4D, REMIC II Regular Interest DB-1, REMIC II Regular Interest EB-2, REMIC II Regular Interest FB-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest JJ-1, REMIC II Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and M, REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A O and REMIC II Regular Interest A-4BP, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Sec Inc Trust 2004 Top14)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute (with a credit for an amount equal to any Net Swap Payment that was deemed distributed by the Paying Agent to the Master Servicer's Floating Rate Account on the immediately preceding Master Servicer Remittance Date pursuant to Sections 8.30(b)) to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 CertificatesRegular Interest, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3; second, to the REMIC II Regular Interest A-4AA-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A A-2A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4AA-2A, to the REMIC II Regular Interest A-4BA-2B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ A-1 and A-4AA-2A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2B has been reduced to zero; and third, to the REMIC II Regular Interest A-3 until the Certificate Balance of REMIC II Regular Interest A-3 is reduced to zero;
(iviii) (A) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A and REMIC II Regular Interest A-2B, to reimburse any unreimbursed Realized Losses previously allocated thereto, other than Realized Interest Losses with respect to the Class X Certificates allocable under clause (iv)(B), plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate, pro rata on the basis of their respective entitlements to reimbursements described in the clause (iv)(A), and (B) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Interest Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2A-2A, REMIC II Regular Interest A-3A-2B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4BA-3, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Interest Losses to the Class X Certificates plus interest on such Realized Interest Losses at one-twelfth of the applicable Pass-Through Rate;
(viv) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(viv) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(viivi) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viiivii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ixviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(xix) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xix) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xiixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiiixii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xivxiii) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xvxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvixv) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xviixvi) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviiixvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xixxviii) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxix) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxixx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest Fpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxiixxi) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiiixxii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxivxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest Gpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxvxxiv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvixxv) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxviixxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest Hpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviiixxvii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxixxxviii) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxxxix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest Jpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxixxx) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxiixxxi) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiiixxxii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest Kpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxivxxxiii) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxvxxxiv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvixxxv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest M has been reduced to zero;
(xxxvi) to the REMIC II Regular Interest A-1M, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxvii) to the REMIC II Regular Interest A-2N, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, M to the REMIC II Regular Interest A-4AN, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest A-4B, N has been reduced to zero;
(xxxix) to the REMIC II Regular Interest BN, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate; (xl) thereafter, to the Class R-II Certificateholders at such time as the Certificate Balances of all Classes of REMIC II Regular Interest CInterests have been reduced to zero, REMand Realized Losses previously allocated thereto have been reimbursed to the Holders of the REMIC II Regular Interests, any amounts remaining.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2001-Top4)
REMIC II. (a) On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trusteeitself, as holder of the REMIC II Regular Interests, from amounts deemed received on the REMIC I Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate the Interest Distribution Amount for the Class A-1 A1 Certificates, Class A-2 A2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 A3 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, and REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, each for such Distribution Date divided among such REMIC II Regular Interests in proportion to (Aa) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, A-2 and REMIC II Regular Interest A-3, REMIC II Regular the Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Accrual Amount for such Interest for such Distribution Date and (Bb) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, and REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of the Class Balance of such Interest and one-twelfth of the Certificate Balance Component Strip Rate for the Corresponding Certificate, plus the amount of such Interest and the sum any unpaid portion of the related Class X-1 Strip Rate and respective Interest Distribution Amounts allocated under this clause (i) on prior Distribution Dates but remaining unpaid, together with interest thereon at the related Class X-2 Strip Rate (if any)applicable Pass-Through Rate;
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Class Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Class Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Class Balance of the REMIC II Regular Interest A-4A A-2 has been reduced to zero and zero;
(iv) upon payment in full of the Certificate Class Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4AA-2, to the REMIC II Regular Interest A-4BA-3, the Principal Distribution Date Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ A-1 and A-4AREMIC II Regular Interest A-2), until the Certificate Class Balance of the REMIC II Regular Interest A-4B A-3 has been reduced to zero;
(ivv) subject to the proviso in clause (vii) below, and to the extent not paid pursuant to clause (i) above, an amount equal to the respective Interest Distribution Amount for such Distribution Date for the Class of REMIC II Regular Interests then outstanding with the highest priority for interest payment as set forth below, plus the amount of any unpaid portion of the respective Interest Distribution Amount allocated under this clause (v) on prior Distribution Dates but remaining unpaid, together with interest thereon at the applicable Pass-Through Rate;
(vi) subject to the proviso in clause (vii) below, to distributions of principal equal to the remaining Principal Distribution Amount to the Classes of REMIC II Regular Interests then outstanding in the order set forth below;
(vii) sequentially, to distributions of interest to the remaining REMIC II Regular Interests in the priority set forth below in an amount equal to the Interest Distribution Amounts in respect thereof for such Distribution Date and any unpaid portion of respective Interest Distribution Amounts in respect thereof for any prior Distribution Date together with interest thereon at the applicable Pass-Through Rate, PROVIDED that on any Distribution Date on which the Class Balance of a Class of REMIC II Regular Interests is reduced to zero pursuant to clause (vi) above, interest distributions pursuant to clause (v) above will be made to the Class of Certificates outstanding with the next highest priority for interest payments prior to making distributions of principal on such Class pursuant to clause (vi) above;
(viii) sequentially to the Classes of REMIC II Regular Interests in the order set forth below for distribution of principal any amounts recovered representing Realized Losses previously allocated to such Class in reduction of its Class Balance; and
(ix) to distributions to the Class R-II Certificateholders, in an amount equal to the balance, if any. The priority for interest payments for purposes of clauses (v) and (vii) above, is: first, to distributions of remaining interest on the REMIC II Regular Interest A-1B; second, to distributions of remaining interest on the REMIC II Regular Interest C; third, to distributions of remaining interest on the REMIC II Regular Interest D; fourth, to distributions of remaining interest on the REMIC II Regular Interest E; fifth, to distributions of remaining interest on the REMIC II Regular Interest F; and then sequentially to the REMIC II Regular Interest G, REMIC II Regular Interest, REMIC II Regular Interest, REMIC II Regular Interest A-2, and REMIC II Regular Interest A-3, REMIC II Regular L up to their respective Interest A-4A, REMIC II Regular Interest A-4B, Distribution Amounts. The Principal Distribution Amount for such Distribution Date set forth in clause (vii) above will be applied to the payment of principal of the REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest CInterest, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, K and REMIC II Regular Interest L, REMIC II Regular Interest M in that order, until their respective Class Balances have been reduced to zero; PROVIDED, that notwithstanding clauses (ii), (iii) and REMIC II Regular Interest N (iv) above on and after any Distribution Date as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to which the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest Interests B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder Principal Distribution Amount shall be applied to payments of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance principal of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest Interests A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B Interests A-2 and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest Interests A-3, REMIC II Regular Interest A-4Apro rata, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest based on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMtheir respective Class Balances.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Icifc Secured Assets Corp)
REMIC II. (a) It is the intention of the parties hereto that the distributions set forth below result in the Certificate Principal Balances of each Class of REMIC II Regular Interests and its corresponding Class of Certificates being equal. On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder of apply the REMIC II Regular Interests, Distribution Amount for such date for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates distributions of interest to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests III in proportion to (A) in the case respect of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, up to an amount equal to (and pro rata in accordance with) all Uncertificated Distributable Interest on such REMIC II Regular Interests for such Distribution Date;
(with the ii) to distributions of principal in respect of first, REMIC II Regular Interest A-1 allocation based upon A-1, and second, REMIC II Regular Interest A-2, in each case up to an amount equal to the sum lesser of (1) the Certificate Balances then outstanding Uncertificated Principal Balance of such Class and (2) the remaining portion, if any, of such REMIC II Distribution Amount;
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by A-2 (with interest), up to an amount equal to (and pro rata in accordance with) the sum Loss Reimbursement Amount in respect of the Certificate Balances such REMIC II Regular Interest for such Distribution Date;
(iv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest A-1B, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum for such Distribution Date;
(v) to distributions of the outstanding Certificate Balances principal in respect of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3)B, until the Certificate Uncertificated Principal Balance of REMIC II Regular Interest A-1 thereof is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iiivi) upon payment in full of the Certificate Balance of the to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-3B (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date Date;
(reduced by any portion thereof deemed vii) to be distributed distributions of interest to the REMIC III in respect of REMIC II Regular Interest A-1C, A-2 and A-3), until the Certificate Balance of the up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-4A has been reduced for such Distribution Date;
(viii) to zero and upon payment distributions of principal in full respect of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A)C, until the Certificate Uncertificated Principal Balance of the REMIC II Regular Interest A-4B has been thereof is reduced to zero;
(ivix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1C (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date;
(x) to distributions of interest to REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, III in respect of REMIC II Regular Interest D, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xi) to distributions of principal in respect of REMIC II Regular Interest D, until the Uncertificated Principal Balance thereof is reduced to zero;
(xii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest D (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xiii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest E, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xiv) to distributions of principal in respect of REMIC II Regular Interest E, until the Uncertificated Principal Balance thereof is reduced to zero;
(xv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest E (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xvi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest F, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xvii) to distributions of principal in respect of REMIC II Regular Interest F, until the Uncertificated Principal Balance thereof is reduced to zero;
(xviii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest F (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xix) to distributions of interest to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xx) to distributions of principal in respect of REMIC II Regular Interest G, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest G (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxiii) to distributions of principal in respect of REMIC II Regular Interest H, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxiv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest H (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest J, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxvi) to distributions of principal in respect of REMIC II Regular Interest J, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxvii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest J (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxviii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest K, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxix) to distributions of principal in respect of REMIC II Regular Interest K, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxx) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest K (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxxi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest L, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxxii) to distributions of principal in respect of REMIC II Regular Interest L, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxxiii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest L (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxxiv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest M, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxxv) to distributions of principal in respect of REMIC II Regular Interest M, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxxvi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest M and (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxxvii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest N, pro rata up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxxviii) to distributions of principal in respect of REMIC II Regular Interest N, until the basis of their respective entitlements Uncertificated Principal Balance thereof is reduced to reimbursement described in this clause zero;
(iv), xxxix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1N (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date;
(xl) to distributions of interest to REMIC III in respect of REMIC II Regular Interest A-3O, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-4A, for such Distribution Date;
(xli) to distributions of principal in respect of REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B)O, until the Certificate Uncertificated Principal Balance of the REMIC II Regular Interest B has been thereof is reduced to zero;
(viixlii) to the reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest BO (with interest), up to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date; and
(xliii) to pay to the extent not distributed pursuant to clause (i) above;Holders of the Class R-II Certificates, the balance, if any, of the REMIC II Distribution Amount.
(ixb) upon payment On each Distribution Date, the Trustee shall be deemed to apply all Prepayment Premiums then on deposit in full of the Certificate Balance Distribution Account and received during or prior to the related Collection Period, to pay additional interest to REMIC III in respect of the REMIC II Regular Interest B, Interests.
(c) All amounts (other than additional interest in the form of Prepayment Premiums) deemed paid to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance III in respect of the REMIC II Regular Interest C has been reduced Interests pursuant to zero;
(x) this Section 6.3 on any Distribution Date is herein referred to as the "REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest III DISTRIBUTION AMOUNT" for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMdate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-1F, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest FE-2, REMIC II Regular Interest F-1, REMIC II Regular Interest F-2, , REMIC II Regular Interest G, REMIC II Regular Interest HH-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Dep for Ser 2003 Hq2)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest CB-1, REMIC II Regular Interest B-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust 2004 HQ4)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest BA-2A, REMIC II Regular Interest CA-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest KK-1, REMIC II Regular Interest K-2, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4A A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C and REMIC II Regular Interest A-4B, A-2D the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest BB-1, REMIC II Regular Interest CB-2, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest KK-1, REMIC II Regular Interest K-2, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, the product of one-twelfth of (a) the Certificate Balance of such Interest and (b) one-twelfth of the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2 A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C and REMIC II Regular Interest A-3, A-2D in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), A-1A until the Certificate Balance of REMIC II Regular Interest A-1 A-1A is reduced to zero zero, and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1A, to the REMIC II Regular Interest A-4AA-1B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3A-1A), until the Certificate Balance of the REMIC II Regular Interest A-4A A-1B has been reduced to zero zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4AA-1B, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest BA-1C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A A-1A and REMIC II Regular Interest A-4BA-1B), until the Certificate Balance of the REMIC II Regular Interest B A-1C has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest BA-1C, to the REMIC II Regular Interest CA-1D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, and A-1C), until the Certificate Balance of the REMIC II Regular Interest A-1D has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1D, to the REMIC II Regular Interest A-1E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1D), until the Certificate Balance of the REMIC II Regular Interest A-1E has been reduced to zero, (B) second, to the REMIC II Regular Interest A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1E), until the Certificate Balance of the REMIC II Regular Interest A-2A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2B, to the REMIC II Regular Interest A-2C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1▇-▇▇, REMIC II Regular Interest A-2▇-▇▇, REMIC II Regular Interest A-3▇-▇▇, REMIC II Regular Interest A-4A▇-▇▇, REMIC II Regular Interest A-4B and REMIC II Regular Interest B▇-▇▇, ▇-▇▇ ▇▇▇ ▇-▇▇), until the Certificate Balance of the REMIC II Regular Interest C A-2C has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2C), until the Certificate Balance of the REMIC II Regular Interest A-2D has been reduced to zero;
(xiii) to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest G-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K-1, REMIC II Regular Interest K-2, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N and REMIC II Regular Interest O, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iii), to reimburse any Realized Interest Losses previously allocated to REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest B-1, REMIC II Regular Interest B-2, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest C-4, REMIC II Regular Interest D, REMIC II Regular Interest E-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest G-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K-1, REMIC II Regular Interest K-2, REMIC II Regular Interest L, REMIC II Regular Interest M, REMIC II Regular Interest N and REMIC II Regular Interest O, in the case of all such Interests other than the REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C and REMIC II Regular Interest A-2D, as a result of the allocation of Realized Losses to the Class X Certificates and in the case of all such Interests, inclusive of one month's interest at the applicable Pass-Through Rate on such Realized Interest Losses;
(iv) to the REMIC II Regular Interest CB-1 and REMIC II Regular Interest B-2, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(v) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2D, to the REMIC II Regular Interest B-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest B-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest B-1, to the REMIC II Regular Interest B-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest B-2 has been reduced to zero;
(vi) to the REMIC II Regular Interest B-1 and REMIC II Regular Interest B-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xivii) to the REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3 and REMIC II Regular Interest C-4, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(viii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B-2, to the REMIC II Regular Interest C-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-1, to the REMIC II Regular Interest C-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-2 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-2, to the REMIC II Regular Interest C-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-3 has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-3, to the REMIC II Regular Interest C-4, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-4 has been reduced to zero;
(ix) to the REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3 and REMIC II Regular Interest C-4, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest at the applicable Pass-Through Rate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(x) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest Interests for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xiixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest CC-4, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiiixii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(xivxiii) to the REMIC II Regular Interest EE-1 and REMIC II Regular Interest E-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xvxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest EE-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E E-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest E-1, to the REMIC II Regular Interest E-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E-2 has been reduced to zero;
(xvixv) to the REMIC II Regular Interest EE-1 and REMIC II Regular Interest E-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xviixvi) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviiixvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest EE-2, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xixxviii) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(xxxix) to the REMIC II Regular Interest GG-1 and REMIC II Regular Interest G-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xxixx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest GG-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest Fpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G G-1 has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) and upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Trust 2003-Top10)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-2D, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4BA-4D, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest FE-2, REMIC II Regular Interest GE-3, REMIC II Regular Interest HF-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H-1, REMIC II Regular Interest H-2, REMIC II Regular Interest J, REMIC II Regular Interest KK-1, REMIC II Regular Interest K-2, REMIC II Regular Interest L, REMIC II Regular Interest M and M-1, REMIC II Regular Interest M-2, REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1O, REMIC II Regular Interest A-2P, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M Q and REMIC II Regular Interest N as a result of S, which reduction shall be allocated pro rata based on the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full product of the Certificate Balance of the such REMIC II Regular Interest B, and the sum of the Class X-1 Strip Rate and the Class X-2 Strip Rate (if any) applicable to the Class of Certificates relating to such REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Cap I Inc Capital I Tr 2004-Hq3)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M L and REMIC II Regular Interest NM, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M L and REMIC II Regular Interest NM, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 X Strip Rate (if any);
(ii) to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Certificate Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2 has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M L and REMIC II Regular Interest NM, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, L and REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses compounded monthly at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMREMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K and REMIC II Regular Interest L), until the Certificate Balance of the REMIC II Regular Interest M has been reduced to zero;
(xxxvii) to the REMIC II Regular Interest M, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses compounded monthly at one-twelfth the applicable Pass-Through Rate;
(xxxviii) thereafter, to the Class R-II Certificateholders at such time as the Certificate Balances of all Classes of REMIC II Regular Interests have been reduced to zero, and Realized Losses previously allocated thereto have been reimbursed to the Holders of the REMIC II Regular Interests, any amounts remaining.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Series 2000 Life1)
REMIC II. (a) It is the intention of the parties hereto that the distributions set forth below result in the Certificate Principal Balances of each Class of REMIC II Regular Interests and its corresponding Class of Certificates being equal. On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder of apply the REMIC II Regular Interests, Distribution Amount for such date for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates distributions of interest to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests III in proportion to (A) in the case respect of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, up to an amount equal to (and pro rata in accordance with) all Uncertificated Distributable Interest on such REMIC II Regular Interests for such Distribution Date;
(with the ii) to distributions of principal in respect of first, REMIC II Regular Interest A-1 allocation based upon A-1, and second, REMIC II Regular Interest A-2, in each case up to an amount equal to the sum lesser of (1) the Certificate Balances then outstanding Uncertificated Principal Balance of such Class and (2) the remaining portion, if any, of such REMIC II Distribution Amount;
(iii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by A-2 (with interest), up to an amount equal to (and pro rata in accordance with) the sum Loss Reimbursement Amount in respect of the Certificate Balances such REMIC II Regular Interest for such Distribution Date;
(iv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest A-1B, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum for such Distribution Date;
(v) to distributions of the outstanding Certificate Balances principal in respect of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3)B, until the Certificate Uncertificated Principal Balance of REMIC II Regular Interest A-1 thereof is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iiivi) upon payment in full of the Certificate Balance of the to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-3B (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date Date;
(reduced by any portion thereof deemed vii) to be distributed distributions of interest to the REMIC III in respect of REMIC II Regular Interest A-1C, A-2 and A-3), until the Certificate Balance of the up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest A-4A has been reduced for such Distribution Date;
(viii) to zero and upon payment distributions of principal in full respect of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A)C, until the Certificate Uncertificated Principal Balance of the REMIC II Regular Interest A-4B has been thereof is reduced to zero;
(ivix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1C (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, for such Distribution Date;
(x) to distributions of interest to REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, III in respect of REMIC II Regular Interest D, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xi) to distributions of principal in respect of REMIC II Regular Interest D, until the Uncertificated Principal Balance thereof is reduced to zero;
(xii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest D (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xiii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest E, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xiv) to distributions of principal in respect of REMIC II Regular Interest E, until the Uncertificated Principal Balance thereof is reduced to zero;
(xv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest E (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xvi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest F, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xvii) to distributions of principal in respect of REMIC II Regular Interest F, until the Uncertificated Principal Balance thereof is reduced to zero;
(xviii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest F (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xix) to distributions of interest to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xx) to distributions of principal in respect of REMIC II Regular Interest G, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest G (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxiii) to distributions of principal in respect of REMIC II Regular Interest H, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxiv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest H (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest J, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxvi) to distributions of principal in respect of REMIC II Regular Interest J, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxvii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest J (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxviii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest K, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxix) to distributions of principal in respect of REMIC II Regular Interest K, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxx) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest K (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date; and
(xxxi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest L, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest M and for such Distribution Date;
(xxxii) to distributions of principal in respect of REMIC II Regular Interest NL, pro rata on until the basis of their respective entitlements Uncertificated Principal Balance thereof is reduced to reimbursement described in this clause zero;
(iv), xxxiii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1L (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) aboveDate;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REM
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc Com Mort Ps THR Cer Se 1998-Cf1)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BA-4C, REMIC II Regular Interest CB-1, REMIC II Regular Interest DB-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D-1, REMIC II Regular Interest D-2, REMIC II Regular Interest E, REMIC II Regular Interest FF-1, REMIC II Regular Interest F-2, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest JJ-1, REMIC Regular Interest J-2, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Inc Trust 2003-Top 11)
REMIC II. (a) It is the intention of the parties hereto that the distributions set forth below result in the Certificate Principal Balances of each Class of REMIC II Regular Interests and its corresponding Class of Certificates being equal. On each Distribution Date, the Paying Agent Trustee shall be deemed to distribute to itself on behalf of the Trustee, as holder of apply the REMIC II Regular Interests, Distribution Amount for such date for the following purposes and in the following order of priority:
(i) to distributions of interest to REMIC III in respect of REMIC II Regular Interest A1 and REMIC II Regular Interest A2, up to an amount equal to (and prorata in accordance with) all Uncertificated Distributable Certificate Interest on such REMIC II Regular Interests for such Distribution Date;
(ii) to distributions of principal in respect of first, REMIC II Regular Interest A1, and second, REMIC II Regular Interest AZ, in each case up to an amount equal to the lesser of (1) the then outstanding Uncertificated Principal Balance of such Class A-1 Certificatesand (2) the remaining portion, Class A-2 Certificatesif any, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates of such REMIC II Distribution Amount;
(iii) to reimburse REMIC III for any Realized Losses and Class X-2 Certificates Expense Losses previously deemed allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M A1 and REMIC II Regular Interest NA2 (with interest), divided among up to an amount equal to (and pro rata in accordance with) the Loss Reimbursement Amount in respect of such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and Date;
(Biv) to distributions of interest to REMIC III in the case respect of REMIC II Regular Interest B, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(v) to distributions of principal in respect of REMIC II Regular Interest B, until the Uncertificated Principal Balance thereof is reduced to zero;
(vi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest B (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(vii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest C, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(viii) to distributions of principal in respect of REMIC II Regular Interest C, until the Uncertificated Principal Balance thereof is reduced to zero;
(ix) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest C (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(x) to distributions of interest to REMIC III in respect of REMIC II Regular Interest D, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xi) to distributions of principal in respect of REMIC II Regular Interest D, until the Uncertificated Principal Balance thereof is reduced to zero;
(xii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest D (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xiii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest E, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xiv) to distributions of principal in respect of REMIC II Regular Interest E, until the Uncertificated Principal Balance thereof is reduced to zero;
(xv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest E (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xvi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest F, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xvii) to distributions of principal in respect of REMIC II Regular Interest F, until the Uncertificated Principal Balance thereof is reduced to zero;
(xviii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest F (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xix) to distributions of interest to REMIC III in respect of REMIC II Regular Interest G, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xx) to distributions of principal in respect of REMIC II Regular Interest G, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxi) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest G (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest H, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxiii) to distributions of principal in respect of REMIC II Regular Interest H, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxiv) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest H (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxv) to distributions of interest to REMIC III in respect of REMIC II Regular Interest J, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxvi) to distributions of principal in respect of REMIC II Regular Interest J, until the Uncertificated Principal Balance thereof is reduced to zero;
(xxvii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest J (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date;
(xxviii) to distributions of interest to REMIC III in respect of REMIC II Regular Interest K, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest for such Distribution Date;
(xxix) to distributions of principal in respect of REMIC II Regular Interest K, until the Uncertificated Principal Balance thereof is reduced to zero; and
(xxx) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest K (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest for such Distribution Date.
(xxxi) to distributions of interest to REMIC III in respect of REMIC II Regular Interest L, up to an amount equal to all Uncertificated Distributable Interest on such REMIC II Regular Interest M and REMIC II Regular Interest N, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(ivxxxii) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, distributions of principal in respect of REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on until the basis of their respective entitlements Uncertificated Principal Balance thereof is reduced to reimbursement described in this clause zero; and
(iv), xxxiii) to reimburse REMIC III for any Realized Losses and Expense Losses previously deemed allocated to REMIC II Regular Interest A-1L (with interest), up to an amount equal to the Loss Reimbursement Amount in respect of such REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date.
(b) On each Distribution Date, the Trustee shall be deemed to apply all Prepayment Premiums then on deposit in the Distribution Account and received during or prior to the extent not distributed pursuant related Collection Period, to clause (i) above;
(vi) upon payment pay additional interest to REMIC III in full of the Certificate Balances respect of the REMIC II Regular Interest A-1, Interests.
(c) All amounts (other than additional interest in the form of Prepayment Premiums) deemed paid to REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance III in respect of the REMIC II Regular Interest B has been reduced Interests pursuant to zero;
(vii) this Section 6.3 on any Distribution Date is herein referred to as the "REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest III Distribution Amount" for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMdate.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Inc)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 X Certificates to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest NX-1, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and Date, (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M L and REMIC II Regular Interest NM, the product of one-twelfth of the Certificate Balance of such Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 X Strip Rate (if any)) and (C) in the case of REMIC II Regular Interest X-1, the Class X-1 Interest Amount;
(ii) to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to until the Certificate Balance of the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are has been reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1, to the REMIC II Regular Interest A-4AA-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2 has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest LL and REMIC II Regular Interest M, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest M A-2, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L and REMIC II Regular Interest N M as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, A-2 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-1 and REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest JI, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest JI, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest I has been reduced to zero;
(xxviii) to the REMIC II Regular Interest I, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest I, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest I), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviiixxxi) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxixxxxii) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxxxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H H, REMIC II Regular Interest I and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxixxxiv) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxiixxxv) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiiixxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest I, REMIC II Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxivxxxvii) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxvxxxviii) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvixxxix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-4AC, REMIC II Regular Interest A-4BD, REMIC II Regular Interest BE, REMIC II Regular Interest CF, REMREMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest I, REMIC II Regular Interest J, REMIC II Regular Interest K and REMIC II Regular Interest L), until the Certificate Balance of the REMIC II Regular Interest M has been reduced to zero;
(xl) to the REMIC II Regular Interest M, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at the applicable Pass-Through Rate; and (xli) thereafter, to the Class R-II Certificateholders.
(b) On each Distribution Date, the Paying Agent shall have deemed to distribute to the REMIC II Excess Interests, any Excess Interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Bear Stearns Commercial Mortgage Securities Inc)
REMIC II. (a) On each Distribution Date, the Paying Agent shall be deemed to distribute to itself on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4A A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B and REMIC II Regular Interest A-4BA-2C, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, the product of one-twelfth of (a) the Certificate Balance of such Interest and (b) one-twelfth of the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2 A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B and REMIC II Regular Interest A-3A-2C, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), A-1A until the Certificate Balance of REMIC II Regular Interest A-1 A-1A is reduced to zero zero, and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3A-1A, to the REMIC II Regular Interest A-4AA-1B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3A-1A), until the Certificate Balance of the REMIC II Regular Interest A-4A A-1B has been reduced to zero zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4AA-1B, to the REMIC II Regular Interest A-4BA-1C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1A and A-1B), until the Certificate Balance of the REMIC II Regular Interest A-1C has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1C, to the REMIC II Regular Interest A-1D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, and A-1C), until the Certificate Balance of the REMIC II Regular Interest A-1D has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-1D, to the REMIC II Regular Interest A-1E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1D), until the Certificate Balance of the REMIC II Regular Interest A-1E has been reduced to zero, and (B) second, to the REMIC II Regular Interest A-2A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-1E), until the Certificate Balance of the REMIC II Regular Interest A-2A has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2A, to the REMIC II Regular Interest A-2B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular ▇▇▇▇▇▇▇▇ ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-2A), until the Certificate Balance of the REMIC II Regular Interest A-2B has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-2B, to the REMIC II Regular Interest A-2C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇, ▇-▇▇ and A-4A▇▇▇ ▇-▇▇), until the Certificate Balance of the REMIC II Regular Interest A-4B A-2C has been reduced to zero;
(iviii) to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iviii), to reimburse any Realized Interest Losses previously allocated to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-4AA-1D, REMIC II Regular Interest A-4BA-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest B, REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest N O, in the case of all such Interests other than the REMIC II Regular Interest A-1A, REMIC II Regular Interest A-1B, REMIC II Regular Interest A-1C, REMIC II Regular Interest A-1D, REMIC II Regular Interest A-1E, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B and REMIC II Regular Interest A-2C, as a result of the allocation of Realized Losses to the Class X Certificates plus and in the case of all such Interests, inclusive of one month's interest on such Realized Losses at one-twelfth of the applicable Pass-Through RateRate on such Realized Interest Losses;
(viv) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(viv) upon payment in full of the Certificate Balances Balance of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4BA-2C, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(viivi) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(viiivii) to the REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2 and REMIC II Regular Interest C-3, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date, to the extent not distributed pursuant to clause (i) above;
(ixviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest CC-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest Bpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C C-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-1, to the REMIC II Regular Interest C-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-2 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest C-2, to the REMIC II Regular Interest C-3, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest C-3 has been reduced to zero;
(xix) to the REMIC II Regular Interest CC-1, REMIC II Regular Interest C-2 and REMIC II Regular Interest C-3, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xix) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xiixi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest CC-3, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest Cpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiiixii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(xivxiii) to the REMIC II Regular Interest EE-1 and REMIC II Regular Interest E-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xvxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest EE-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest Dpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E E-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest E-1, to the REMIC II Regular Interest E-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest E-2 has been reduced to zero;
(xvixv) to the REMIC II Regular Interest EE-1 and REMIC II Regular Interest E-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xviixvi) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviiixvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest EE-2, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest Epreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xixxviii) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(xxxix) to the REMIC II Regular Interest GG-1 and REMIC II Regular Interest G-2, the remainder of the Distributable Certificate Interest for such Interests for such Distribution Date, divided among such REMIC II Regular Interests in proportion to the Accrued Certificate Interest for such Distribution Date Date, to the extent not distributed pursuant to clause (i) above;
(xxixx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest GG-1, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest Fpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G G-1 has been reduced to zero, and upon payment in full of the Certificate Balance of the REMIC II Regular Interest G-1, to the REMIC II Regular Interest G-2, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the preceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest G-2 has been reduced to zero;
(xxiixxi) to the REMIC II Regular Interest GG-1 and REMIC II Regular Interest G-2, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses, pro rata on the basis of their respective entitlements to reimbursement;
(xxiiixxii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxivxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest GG-2, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest Gpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxvxxiv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus one month's interest on such Realized Losses at one-twelfth the applicable Pass-Through RateRate on such Realized Losses;
(xxvixxv) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxviixxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed pursuant to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest Hpreceding provisions hereof), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviiixxvii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMany
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Dean Witter Capital I Series 2002 Top7)
REMIC II. (a) On each Distribution Date, all Realized Losses on the Paying Agent REMIC I Interests for such Distribution Date (or for prior Distribution Dates, to the extent not previously allocated) shall be deemed allocated to distribute the Corresponding REMIC II Regular Interests in the amounts and in the manner as will be allocated to itself the REMIC Regular Certificates relating thereto pursuant to Section 6.6(f); provided, however, that Realized Losses allocated to REMIC II Regular Interests that have Components shall be allocated among the Components of such REMIC II Regular Interests sequentially in alphabetical and numerical order. Realized Losses allocated to the Class X Certificates shall reduce the amount of interest payable on behalf of the Trustee, as holder of the REMIC II Regular Interests, for the following purposes and in the following order of priority:
(i) an amount equal to Distributable Certificate Interest for the Class A-1 Certificates, Class A-2 Certificates, Class A-3 Certificates, Class A-4 Certificates, Class X-1 Certificates and Class X-2 Certificates to REMIC II Regular Interest A-1A-1A, REMIC II Regular Interest A-2A-1B, REMIC II Regular Interest A-3A-1C, REMIC II Regular Interest A-2A, REMIC II Regular Interest A-2B, REMIC II Regular Interest A-2C, REMIC II Regular Interest A-3A, REMIC II Regular Interest A-3B, REMIC II Regular Interest A-3C, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest BB-1, REMIC II Regular Interest CB-2, REMIC II Regular Interest B-3, REMIC II Regular Interest C-1, REMIC II Regular Interest C-2, REMIC II Regular Interest C-3, REMIC II Regular Interest D, REMIC II Regular Interest EE-1, REMIC II Regular Interest E-2, REMIC II Regular Interest F, REMIC II Regular Interest GG-1, REMIC II Regular Interest G-2, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M M, REMIC II Regular Interest N and REMIC II Regular Interest NO, divided among such REMIC II Regular Interests in proportion to (A) in the case of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, the Accrued Certificate Interest for such Distribution Date and (B) in the case of REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, which reduction shall be allocated pro rata based on the product of one-twelfth of the Certificate Balance of such REMIC II Regular Interest and the sum of the related Class X-1 Strip Rate and the related Class X-2 Strip Rate (if any);
(ii) applicable to the Class of Certificates relating to such REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, in reduction of the Certificate Balances thereof, in an amount up to the Principal Distribution Amount for such Distribution Date: (A) first, to the REMIC II Regular Interest A-1 and REMIC II Regular Interest A-2, pro rata (with the REMIC II Regular Interest A-1 allocation based upon the sum of the Certificate Balances of REMIC II Regular Interest A-1 and REMIC II Regular Interest A-3 divided by the sum of the Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, and the REMIC II Regular Interest A-2 allocation based upon the REMIC II Regular Interest A-2 Certificate Balance divided by the sum of the outstanding Certificate Balances of REMIC II Regular Interest A-1, REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3), until the Certificate Balance of REMIC II Regular Interest A-1 is reduced to zero and (B) then, to REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3, pro rata, until the Certificate Balances of REMIC II Regular Interest A-2 and REMIC II Regular Interest A-3 are reduced to zero;
(iii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest A-3, to the REMIC II Regular Interest A-4A, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, A-2 and A-3), until the Certificate Balance of the REMIC II Regular Interest A-4A has been reduced to zero and upon payment in full of the Certificate Balance of the REMIC II Regular Amount of the REMIC II Regular Interest A-4A, to the REMIC II Regular Interest A-4B, the Principal Distribution Date for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest ▇-▇, ▇-▇, ▇-▇ and A-4A), until the Certificate Balance of the REMIC II Regular Interest A-4B has been reduced to zero;
(iv) to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N, pro rata on the basis of their respective entitlements to reimbursement described in this clause (iv), to reimburse any Realized Losses previously allocated to REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC II Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II Regular Interest J, REMIC II Regular Interest K, REMIC II Regular Interest L, REMIC II Regular Interest M and REMIC II Regular Interest N as a result of the allocation of Realized Losses to the Class X Certificates plus interest on such Realized Losses at one-twelfth of the applicable Pass-Through Rate;
(v) to the REMIC II Regular Interest B, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(vi) upon payment in full of the Certificate Balances of the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B, to the REMIC II Regular Interest B, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A and REMIC II Regular Interest A-4B), until the Certificate Balance of the REMIC II Regular Interest B has been reduced to zero;
(vii) to the REMIC II Regular Interest B, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(viii) to the REMIC II Regular Interest C, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(ix) upon payment in full of the Certificate Balance of the REMIC II Regular Interest B, to the REMIC II Regular Interest C, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B and REMIC II Regular Interest B), until the Certificate Balance of the REMIC II Regular Interest C has been reduced to zero;
(x) to the REMIC II Regular Interest C, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xi) to the REMIC II Regular Interest D, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest C, to the REMIC II Regular Interest D, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B REMIC II Regular Interest B and REMIC II Regular Interest C), until the Certificate Balance of the REMIC II Regular Interest D has been reduced to zero;
(xiii) to the REMIC II Regular Interest D, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xiv) to the REMIC II Regular Interest E, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest D, to the REMIC II Regular Interest E, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C and REMIC II Regular Interest D), until the Certificate Balance of the REMIC II Regular Interest E has been reduced to zero;
(xvi) to the REMIC II Regular Interest E, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xvii) to the REMIC II Regular Interest F, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xviii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest E, to the REMIC II Regular Interest F, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D and REMIC II Regular Interest E), until the Certificate Balance of the REMIC II Regular Interest F has been reduced to zero;
(xix) to the REMIC II Regular Interest F, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xx) to the REMIC II Regular Interest G, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest F, to the REMIC II Regular Interest G, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E and REMIC II Regular Interest F), until the Certificate Balance of the REMIC II Regular Interest G has been reduced to zero;
(xxii) to the REMIC II Regular Interest G, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxiii) to the REMIC II Regular Interest H, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxiv) upon payment in full of the Certificate Balance of the REMIC II Regular Interest G, to the REMIC II Regular Interest H, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F and REMIC II Regular Interest G), until the Certificate Balance of the REMIC II Regular Interest H has been reduced to zero;
(xxv) to the REMIC II Regular Interest H, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxvi) to the REMIC II Regular Interest J, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxvii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest H, to the REMIC II Regular Interest J, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G and REMIC II Regular Interest H), until the Certificate Balance of the REMIC II Regular Interest J has been reduced to zero;
(xxviii) to the REMIC II Regular Interest J, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxix) to the REMIC II Regular Interest K, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxx) upon payment in full of the Certificate Balance of the REMIC II Regular Interest J to the REMIC II Regular Interest K, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H and REMIC II Regular Interest J), until the Certificate Balance of the REMIC II Regular Interest K has been reduced to zero;
(xxxi) to the REMIC II Regular Interest K, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxii) to the REMIC II Regular Interest L, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxiii) upon payment in full of the Certificate Balance of the REMIC II Regular Interest K to the REMIC II Regular Interest L, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMIC II Regular Interest D, REMIC II Regular Interest E, REMIC II Regular Interest F, REMIC II Regular Interest G, REMIC II Regular Interest H, REMIC II -104- Regular Interest J and REMIC II Regular Interest K), until the Certificate Balance of the REMIC II Regular Interest L has been reduced to zero;
(xxxiv) to the REMIC II Regular Interest L, to reimburse any unreimbursed Realized Losses previously allocated thereto, plus interest on such Realized Losses at one-twelfth the applicable Pass-Through Rate;
(xxxv) to the REMIC II Regular Interest M, the remainder of the Distributable Certificate Interest for such Interest for such Distribution Date to the extent not distributed pursuant to clause (i) above;
(xxxvi) upon payment in full of the Certificate Balance of the REMIC II Regular Interest L to the REMIC II Regular Interest M, the Principal Distribution Amount for such Distribution Date (reduced by any portion thereof deemed to be distributed to the REMIC II Regular Interest A-1, REMIC II Regular Interest A-2, REMIC II Regular Interest A-3, REMIC II Regular Interest A-4A, REMIC II Regular Interest A-4B, REMIC II Regular Interest B, REMIC Regular Interest C, REMInterest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Morgan Stanley Capital I Trust Series 2004-Top15)