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Senior Principal Distribution Amount
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Senior Principal Distribution Amount
. 42 -vii-
TABLE OF CONTENTS
(continued) Page ----
Senior Subordinate Certificates
...............................................................42 Servicer .....................................................................................42
Servicing Fee
.................................................................................42
Servicing Officer
.............................................................................43
Sample 1
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Senior Principal Distribution Amount
. As of any
Distribution Date
on or after the
Stepdown Date
and as long as
a Trigger Event
is not in effect, the
lesser of
(i) the
Principal Distribution Amount
for that Distribution Date and (ii) the excess, if any, of (A) the
sum of
the Class
Certificate Balances
of the
Senior Certificates
immediately
prior to
that Distribution Date over (B) the lesser of (1)
the product
of (x) 40.40% and (y) the Pool Principal Balance as of the
last day
of the related
Due Period
and (2) the Pool Principal Balance as of the last day of the related Due Period minus the product of (x) 0.50% and (y) the Cut-off
Date Pool Principal Balance
.
Senior Specified Enhancement Percentage
As of any
date of determination
thereof, 59.60%.
Sample 1
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Senior Principal Distribution Amount
. As of any
Distribution Date
on or after the
Stepdown Date
and as long as
a Trigger Event
is not in effect, the
lesser of
(i) the
Principal Distribution Amount
for that Distribution Date and (ii) the excess, if any, of (A) the
sum of
the Class
Certificate Balances
of the
Senior Certificates
immediately
prior to
that Distribution Date over (B) the lesser of (1)
the product
of (x) 38.20% and (y) the Aggregate
Trust Fund
Principal Balance
as of the
last day
of the related
Due Period
and (2) the Aggregate Trust Fund Principal Balance as of the last day of the related Due Period minus the product of (x) 0.50% and (y) the Initial Aggregate Trust Fund Principal Balance.
Senior Specified Enhancement Percentage
As of any
date of determination
thereof, 61.80%.
Sample 1
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Senior Principal Distribution Amount
. 41
TABLE OF CONTENTS
(continued)
Sample 1
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Senior Principal Distribution Amount
. 35
SENIOR SPECIFIED ENHANCEMENT PERCENTAGE
35 SERVICER............................... 35
Sample 1
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Senior Principal Distribution Amount
. For any
Distribution Date
, an amount
equal to
the
sum of
(a) the
Group 1 Senior Percentage
of the
Principal Payment Amount
for
Loan Group 1
(exclusive of the portion thereof
attributable to
principal
distributions to
the
Class C
-P-
L Regular Interest
pursuant to
clauses (I)(a)(i) and (II)(a)(i) of
the definition of
“
REMIC II Distribution Amount
”), (b) the
Group 1 Senior Prepayment Percentage
of the
Principal Prepayment Amount
for Loan Group 1 (exclusive of the portion thereof attributable to principal distributions to the Class C-P-L Regular Interest pursuant to clauses (I)(a)(i) and (II)(a)(i) of the definition of “REMIC II Distribution Amount”) and (c) the
Group 1 Senior Liquidation Amount
.
Sample 1
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Senior Principal Distribution Amount
. For a
Certificate Group
and a Distribution Date, the
sum of
(1)
the product
of (a) the related
Senior Percentage
and (b) the
principal portion
of each
Scheduled Payment
on
each Mortgage Loan
in the related
Mortgage Group
due during the related
Due Period
; (2) the product of (a) the related
Senior Prepayment Percentage
and (b) each of the following amounts: (i) the principal portion of each full and
partial principal prepayment
made by a borrower on
a Mortgage Loan
in the related Mortgage Group during the related
Prepayment Period
; (ii) each other unscheduled collection, including
Insurance Proceeds
and
net Liquidation Proceeds
(other than
with respect to
any Mortgage Loan in the related Mortgage Group that was finally liquidated during the related Prepayment Period) representing or allocable to recoveries of
principal of
the related Mortgage Loans received during the related Prepayment Period, including any
Subsequent Recoveries
on the related Mortgage Loans; (iii) the principal portion of
the Purchase Price
of each
Mortgage Loan purchased
by
ABN AMRO
pursuant to the
Servicing
Agreement or
the Seller
pursuant hereto, due to
a defect
in documentation or a material
breach of
a
representation and warranty
with respect to
such Mortgage Loan
or,
in the case
of a permitted substitution of a
Defective Mortgage Loan
in the related Mortgage Group, the amount representing any
principal adjustment
in connection with
any such
replaced Mortgage Loan
in the related Mortgage Group with respect to the related Prepayment Period; and (iv) with respect to
Group 2
, only on
the Distribution Date
immediately
following the
expiration of the Pre-
Funding Period
, any
remaining amounts
on deposit
in the Pre-
Funding Account
. (3) with respect to unscheduled recoveries allocable to principal of any Mortgage Loan in the related Mortgage Group that was fully liquidated during the related Prepayment Period, the
lesser of
(a) the related Senior Prepayment Percentage of
the net
Liquidation Proceeds allocable to principal and (b) the product of (i) the related Senior Percentage for that date and (ii) the related remaining
Stated Principal Balance
of the
related Mortgage Loan
at the
time of liquidation
; (4) any amounts described in clauses (1) through (3) above that remain unpaid with respect to
the Group
from prior
Distribution Dates
. On any Distribution Date after the second
Senior Termination Date
has occurred,
the Senior
Principal Distribution Amount for the remaining
Senior Certificates
...
Sample 1
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Senior Principal Distribution Amount
. 26 Servicer ........................................................... 26
Sample 1
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Senior Principal Distribution Amount
. For any
Distribution Date
, an amount
equal to
the
sum of
(a) the
Group 1 Senior Percentage
of the
Principal Payment Amount
for
Loan Group 1
, (b) the
Group 1 Senior Prepayment Percentage
of the
Principal Prepayment Amount
for Loan Group 1 and (c) the
Group 1 Senior Liquidation Amount
.
Sample 1
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Senior Principal Distribution Amount
. 24
Senior Step Down Conditions
.......................................................25
Sample 1
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