Common use of Rounding Account Clause in Contracts

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 Certificates, funds on deposit in the Class A-3 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 Certificates. Rounding of such distribution on the Class A-3 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 Certificates has been reduced to zero. The Class A-3 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report all income, gain, deduction xx xxxx xxxx respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

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Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 1-A-2 Certificates, funds on deposit in the Class A-3 1-A-2 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 1-A-2 Certificates. Rounding of such distribution on the Class A-3 1-A-2 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 1-A-2 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 1-A-2 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-2 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 1-A-2 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 1-A-2 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-2 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 1-A-2 Certificates has been reduced to zero. The Class A-3 1-A-2 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Goldman, Sachs & Co. Inc., and Goxxxxx, Sachs & Co. Inc. shall report all incomerxxxxx xll xxxxme, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 1-A-2 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trusteeshall remain uninvested. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 999.99 and the sum then held in the Class A-3 1-A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 1-A-2 Rounding Account. Any funds then on deposit in such Class A-3 1-A-2 Rounding Account shall be distributed to Salomon Smith Barney Goldman, Sachs & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates, funds on deposit in the Class A-3 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-4 Certificates. Rounding of such distribution on the Class A-3 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-4 Certificates has been reduced to zero. The Class A-3 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall Morgan Stanley & Co. Incorporated, xxxxh xxxxx report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-4 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc.Morgan Stanley & Co. Incorporated xx xxe Xxxxxxe.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002-A14j)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates, funds on deposit in the Class A-3 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-4 Certificates. Rounding of such distribution on the Class A-3 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-4 Certificates has been reduced to zero. Amounts withdrawn from or deposited in the Class A-4 Rounding Account shall be allocated between Loan Groups and the Class A-4 Components in accordance with the Allocation Percentage (excluding therefrom amounts available from the Class A-4 Rounding Account). The Class A-3 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. Xxxxxx Xxxxxxx & Co. Incorporated, which shall report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-4 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. Xxxxxx Xxxxxxx & Co. Incorporated to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc..

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2002-A12)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Principal Balance of the Class A-3 2-A-4 Certificates, funds on deposit in the Class A-3 2-A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee Securities Administrator and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Principal Balance to be made on the Class A-3 2-A-4 Certificates. Rounding of such distribution on the Class A-3 2-A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 2-A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Principal Balance of the Class A-3 2-A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Principal Balance of the Class A-3 2-A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 2-A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 2-A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Principal Balance of the Class A-3 2-A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Principal Balance of the Class A-3 2-A-4 Certificates has been reduced to zero. The Class A-3 2-A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Morgan Stanley & Co. Incorporated, xxx Mxxxxx Xtanley & Co. Incorporated xxxxx xxxxxx all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 2-A-4 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc.remain uninvested.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Morgan Stanley Mortgage Loan Trust 2004-3)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates, funds on deposit in the Class A-3 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-4 Certificates. Rounding of such distribution on the Class A-3 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-4 Certificates has been reduced to zero. The Class A-3 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Xxxxxx Brothers Inc. shall report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-4 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Xxxxxx Brothers Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 A-4 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-4 Rounding Account. Any funds then on deposit in such Class A-3 A-4 Rounding Account shall be distributed to Salomon Smith Barney Xxxxxx Brothers Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-5 Certificates, funds on deposit in the Class A-3 A-5 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-5 Certificates. Rounding of such distribution on the Class A-3 A-5 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-5 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-5 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-5 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-5 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-5 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-5 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-5 Certificates has been reduced to zero. The Class A-3 A-5 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Bear, Stearns & Co. Inc., and Bear, Steaxxx & Xo. Inc. shall report all incomealx xxxxxe, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-5 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trusteeshall remain uninvested. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-5 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-5 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 999.99 and the sum then held in the Class A-3 A-5 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-5 Rounding Account. Any funds then on deposit in such Class A-3 A-5 Rounding Account shall be distributed to Salomon Smith Barney Bear, Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 1-A-4 Certificates, funds on deposit in the Class A-3 1-A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 1-A-4 Certificates. Rounding of such distribution on the Class A-3 1-A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 1-A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 1-A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 1-A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 1-A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 1-A-4 Certificates has been reduced to zero. The Class A-3 1-A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Morgan Stanley & Co. Incorporated, and Morgan Stanley & Co. Incorpxxxxxx xxxxx xeport all income, gain, deduction dxxxxxxox xx xxxx xxxx xxss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 1-A-4 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc.remain uninvested.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 1-A-8 Certificates, funds on deposit in the Class A-3 1-A-8 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 1-A-8 Certificates. Rounding of such distribution on the Class A-3 1-A-8 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 1-A-8 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 1-A-8 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-8 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 1-A-8 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 1-A-8 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-8 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 1-A-8 Certificates has been reduced to zero. The Class A-3 1-A-8 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report all income, gain, deduction xx xxxx xxxx respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 1-A-8 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx Notwithstandixx xxxxxxxx xxxxxx to xexxxx xo the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-8 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 1-A-8 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 1-A-8 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 1-A-8 Rounding Account. Any funds then on deposit in such Class A-3 1-A-8 Rounding Account shall be distributed to Salomon Smith Barney Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates, funds on deposit in the Class A-3 A-12 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-12 Certificates. Rounding of such distribution on the Class A-3 A-12 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-12 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-12 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-12 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-12 Certificates has been reduced to zero. The Class A-3 A-12 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Bear, Stearns & Co. Inc. shall report all incomeaxx xxxxme, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-12 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Bear, Stearns & Co. Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 A-12 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-12 Rounding Account. Any funds then on deposit in such Class A-3 A-12 Rounding Account shall be distributed to Salomon Smith Barney Bear, Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates, funds on deposit in the Class A-3 A-12 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-12 Certificates. Rounding of such distribution on the Class A-3 A-12 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-12 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-12 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-12 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-12 Certificates has been reduced to zero. The Class A-3 A-12 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Bear, Xxxxxxx & Co. Inc. Bear, Xxxxxxx & Co. Inc. shall report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, Amounts on amounts held deposit in the Class A-3 A-12 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trusteewill remain uninvested. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 999.99 and the sum then held in the Class A-3 A-12 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-12 Rounding Account. Any funds then on deposit in such the Class A-3 A-12 Rounding Account shall be distributed to Salomon Smith Barney Bear, Xxxxxxx & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates, funds on deposit in the Class A-3 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-4 Certificates. Rounding of such distribution on the Class A-3 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-4 Certificates has been reduced to zero. The Class A-3 A-4 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Morgan Stanley & Co. Incorporated, xxx Mxxxxx Xtanley & Co. Incorporated xxxxx xxxxxx all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 A-4 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc.remain uninvested.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-8 Certificates, funds on deposit in the Class A-3 A-8 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-8 Certificates. Rounding of such distribution on the Class A-3 A-8 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-8 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-8 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-8 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-8 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-8 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-8 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-8 Certificates has been reduced to zero. The Class A-3 A-8 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Bear, Stearns & Co. Inc., and Bear, Stexxxx & Co. Inc. shall report all incomeaxx xxxxme, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-8 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trusteeshall remain uninvested. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-8 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-8 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 999.99 and the sum then held in the Class A-3 A-8 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-8 Rounding Account. Any funds then on deposit in such Class A-3 A-8 Rounding Account shall be distributed to Salomon Smith Barney Bear, Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2003-A7)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-2 Certificates, funds on deposit in the Class A-3 A-2 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-2 Certificates. Rounding of such distribution on the Class A-3 A-2 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-2 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-2 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-2 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-2 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-2 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-2 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-2 Certificates has been reduced to zero. The Class A-3 A-2 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Bear, Stearns & Co. Inc., and Bear, Stexxxx & Co. Inc. shall report all incomeaxx xxxxme, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-2 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trusteeshall remain uninvested. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-2 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-2 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 999.99 and the sum then held in the Class A-3 A-2 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-2 Rounding Account. Any funds then on deposit in such Class A-3 A-2 Rounding Account shall be distributed to Salomon Smith Barney Bear, Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Indymac MBS Inc Residential Asset Sec Trust 2003 A10)

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Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-11 Certificates, funds on deposit in the Class A-3 A-11 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-11 Certificates. Rounding of such distribution on the Class A-3 A-11 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-11 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-11 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-11 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-11 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-11 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-11 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-11 Certificates has been reduced to zero. The Class A-3 A-11 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, Lufkin & Jenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-11 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to the Trusteexxx Xxxstee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-11 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-11 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03B(b), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 A-11 Rounding Account shall be distributed to Salomon Smith Barney Inc.Donaldson, Lufkin & Jenrette Secuxxxxxx Xxrporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-11 Certificates (including amounts paid in respect of Realized Losses under the Class A-11 Policy) will be made among the Holders of the Class A-11 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-11 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-11 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-11 Certificates, with the provisions of this Section 4.03B.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates, funds on deposit in the Class A-3 A-12 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-12 Certificates. Rounding of such distribution on the Class A-3 A-12 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-12 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-12 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-12 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-12 Certificates has been reduced to zero. The Class A-3 A-12 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, Lufkin & Jenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-12 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to the Trusteexxx Xxxstee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-12 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03C(b), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 A-12 Rounding Account shall be distributed to Salomon Smith Barney Inc.Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-12 Certificates (including amounts paid in respect of Realized Losses under the Class A-12 Policy) will be made among the Holders of the Class A-12 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-12 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-12 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-12 Certificates, with the provisions of this Section 4.03C.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-15 Certificates, funds on deposit in the Class A-3 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-15 Certificates. Rounding of such distribution on the Class A-3 A-15 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-15 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-15 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-15 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-15 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-15 Certificates has been reduced to zero. The Class A-3 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated, and Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated shall report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trusteeshall remain uninvested. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-15 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-15 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03(g), an amount equal to the difference between $1,000 999.99 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 Rounding Account shall be distributed to Salomon Smith Barney Inc.Xxxxxxx Lynch, Pierce, Xxxxxx & Xxxxx Incorporated.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates, funds on deposit in the Class A-3 III-A-5 Rounding Account shall be, to the extent needed, withdrawn by the Trustee Trust Administrator and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Principal Balance to be made on the Class A-3 III-A-5 Certificates. Rounding of such distribution on the Class A-3 III-A-5 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 III-A-5 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates are to be made, the aggregate amount of such distributions allocable to the a Class A-3 Certificates III-A-5 Certificate shall be applied first to repay any funds withdrawn from the Class A-3 III-A-5 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates has been reduced to zero. The Class A-3 III-A-5 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. Credit Suisse First Boston Corporation. Credit Suisse First Boston Corporation shall report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates will reduce the Class Certificate Principal Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Principal Balance of the Class A-3 III-A-5 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.07(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 III-A-5 Rounding Account shall be paid from the Available Funds Distribution Amount for such Distribution Date to the Class A-3 III-A-5 Rounding Account. Any funds then on deposit in such Class A-3 a Rounding Account shall be distributed to Salomon Smith Barney Inc.Credit Suisse First Boston Corporation.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Credit Suisse Fir Bo Sec Cor CSFB Mort Ps Th CRT Ser 2001-11)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates, funds on deposit in the Class A-3 A-4 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-4 Certificates. Rounding of such distribution on the Class A-3 A-4 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-4 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-4 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-4 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-4 Certificates has been reduced to zero. The Class A-3 A- 4 Rounding Account shall be an "outside xxxside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, Lufkin & Jenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-4 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to the Trusteexxx Xxxstee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-4 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03A(b), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 A-4 Rounding Account shall be distributed to Salomon Smith Barney Inc.Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-4 Certificates (including amounts paid in respect of Realized Losses under the Class A-4 Policy) will be made among the Holders of the Class A-4 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-4 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-4 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-4 Certificates, with the provisions of this Section 4.03A.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-13 Certificates, funds on deposit in the Class A-3 A-13 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-13 Certificates. Rounding of such distribution on the Class A-3 A-13 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-13 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-13 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-13 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-13 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-13 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-13 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-13 Certificates has been reduced to zero. The Class A-3 A-13 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Inc. shall report Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation. Dxxxxxxxx, Lufkin & Jenrette Securxxxxx Xxxporation shxxx xxxxrt all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-13 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Inc. Donaldson, Lufkin & Jenrette Securxxxxx Xxxporation to the Trusteexxx Xxxstee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-13 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-13 Certificates are made in accordance with the provisions set forth in Section 4.03(f4.03D(b), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 Rounding Account. Any funds then on deposit in such Class A-3 A-13 Rounding Account shall be distributed to Salomon Smith Barney Inc.Donaldson, Lufkin & Jenrette Secuxxxxxx Xxrporation. Notwithstanding any provisions herein to the contrary, on each Distribution Date following the first Distribution Date on or after the Senior Credit Support Depletion Date, distributions in reduction of the Class Certificate Balance of the Class A-13 Certificates (including amounts paid in respect of Realized Losses under the Class A-13 Policy) will be made among the Holders of the Class A-13 Certificates pro rata, based on Certificate Balances, and will not be made in integral multiples of $1,000. In the event that Definitive Certificates representing the Class A-13 Certificates are issued pursuant to Section 5.02(e), an amendment to this Agreement, which may be approved without the consent of any Certificateholders, shall establish procedures relating to the manner in which distributions in reduction of the Class Certificate Balance of the Class A-13 Certificates are to be made; provided that such procedures -------- shall be consistent, to the extent practicable and customary for certificates similar to the Class A-13 Certificates, with the provisions of this Section 4.03D.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-10 Certificates, funds on deposit in the Class A-3 A-10 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-10 Certificates. Rounding of such distribution on the Class A-3 A-10 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-10 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-10 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-10 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-10 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-10 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-10 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-10 Certificates has been reduced to zero. The Class A-3 A-10 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Bear, Stearns & Co. Inc. shall report all income, gain, deduction xx xxxx or losx xxxx respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-10 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Bear, Stearns & Co. Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anytxxxx xxrein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-10 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-10 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 A-10 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-10 Rounding Account. Any funds then on deposit in such Class A-3 A-10 Rounding Account shall be distributed to Salomon Smith Barney Bear, Stearns & Co. Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

Rounding Account. On each Distribution Date on which a distribution is made in reduction of the Class Certificate Balance of the Class A-3 A-9 Certificates, funds on deposit in the Class A-3 A-9 Rounding Account shall be, to the extent needed, withdrawn by the Trustee and applied to round upward to an integral multiple of $1,000 the aggregate distribution in reduction of the Class Certificate Balance to be made on the Class A-3 A-9 Certificates. Rounding of such distribution on the Class A-3 A-9 Certificates shall be accomplished, on the first such Distribution Date, by withdrawing from the Class A-3 A-9 Rounding Account the amount of funds, if any, needed to round the amount otherwise available for such distribution in reduction of the Class Certificate Balance of the Class A-3 A-9 Certificates upward to the next integral multiple of $1,000. On each succeeding Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-9 Certificates are to be made, the aggregate amount of such distributions allocable to the Class A-3 A-9 Certificates shall be applied first to repay any funds withdrawn from the Class A-3 A-9 Rounding Account and not previously repaid, and then the remainder of such allocable amount, if any, shall be similarly rounded upward and applied as distributions in reduction of the Class Certificate Balance of the Class A-3 A-9 Certificates; this process shall continue on succeeding Distribution Dates until the Class Certificate Balance of the Class A-3 A-9 Certificates has been reduced to zero. The Class A-3 A-9 Rounding Account shall be an "outside reserve fund" under the REMIC Provisions that is beneficially owned for all federal income tax purposes by Salomon Smith Barney Xxxxxx Brothers Inc. Xxxxxx Brothers Inc. shall report all income, gain, deduction xx xxxx xxxx or loss with respect thereto. The Trustee shall distribute interest earnings, if any, on amounts held in the Class A-3 A-9 Rounding Account as such interest is earned pursuant to written instructions from Salomon Smith Barney Xxxxxx Brothers Inc. to the Trustee. Notwithstanxxxx xxxxxxxx xxxxxx Notwithstanding anything herein to the contrary, on the Distribution Date on which distributions in reduction of the Class Certificate Balance of the Class A-3 A-9 Certificates will reduce the Class Certificate Balance thereof to zero or in the event that distributions in reduction of the Class Certificate Balance of the Class A-3 A-9 Certificates are made in accordance with the provisions set forth in Section 4.03(f), an amount equal to the difference between $1,000 and the sum then held in the Class A-3 A-9 Rounding Account shall be paid from the Available Funds for such Distribution Date to the Class A-3 A-9 Rounding Account. Any funds then on deposit in such Class A-3 A-9 Rounding Account shall be distributed to Salomon Smith Barney Xxxxxx Brothers Inc.

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CWMBS Inc)

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