therein. The Master Servicer shall maintain such account to provide, if needed, the Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 Certificates, and the aggregate amount allocable to such distributions of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the Class I-A-14-L Regular Interests and deposited for their benefit into the Certificate Account in accordance with Section 4.01(i)). Amounts on deposit in the Class I-A-14 Rounding Accounts shall not be invested.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (PNC Mortgage Securities Corp)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of principal is required to be distributed to the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 CertificatesSpecial Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount allocable of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such distributions Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the their Corresponding Class I-A-14-L Regular Interests and deposited for their its benefit into the Certificate Account in accordance with Section 4.01(i)). Amounts on deposit in the Class I-A-14 Rounding Accounts Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass Thru Cert Series 2003-Ms7)
therein. The Master Servicer Certificate Administrator shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer Certificate Administrator determines that amounts are available out of principal is required to be distributed to the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 CertificatesSpecial Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount allocable to of such distributions of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer Certificate Administrator shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Class I-A-14 Rounding Account the Rounding AmountAccount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 CertificatesSpecial Retail Certificates or its Corresponding Class, with respect to which the Master Servicer Certificate Administrator determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on is required to be distributed to such ClassClass pursuant to Section 4.04(a)(ii), the aggregate amount allocable to of such Class principal will be applied first to repay to the Rounding Account any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the such aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer Certificate Administrator shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master ServicerCertificate Administrator. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the their Corresponding Class I-A-14-L Regular Interests and deposited for their its benefit into the Certificate Account in accordance with Section 4.01(i))4.01. Amounts on deposit in the Class I-A-14 Rounding Accounts Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract
Sources: Trust Agreement (Washington Mutual Mortgage Securities Corp Series 2004-Rs1)
therein. The Master Servicer Certificate Administrator shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer Certificate Administrator determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 Retail Certificates, and the aggregate amount allocable to such distributions of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee Certificate Administrator shall withdraw from the Class I-A-14 Rounding Account the applicable Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss Realized Loss is allocated to the Class I-A-14 CertificatesRetail Certificates pursuant to Section 6.04, with respect to which the Master Servicer Certificate Administrator determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Classthe Retail Certificates, the aggregate amount allocable to each such Class will be applied first to repay replenish any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on each such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee Certificate Administrator 80 shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicerapplicable Rounding Amount. Any amounts withdrawn by the Trustee Certificate Administrator from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the Class I-A-14-L Regular Interests and deposited for their benefit into paragraph. Funds held in the Certificate Account shall be invested as described in accordance with Section 4.01(i))4.05. Amounts On or promptly after the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any Realized Loss is allocated to the Retail Certificates pursuant to Section 6.04, the Certificate Administrator shall be entitled to withdraw and pay to itself as additional compensation any remaining amounts on deposit in the Class I-A-14 Rounding Accounts shall not be investedAccount.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Chase Mortgage Finance Corp)
therein. The Master Servicer shall maintain such account to provide, if needed, the Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of principal is required to be distributed to the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 CertificatesSpecial Retail Certificates pursuant to Section 4.05(a)(ii), and the aggregate amount allocable of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such distributions Distribution Date of the Rounding Amount, and the Trustee shall withdraw the Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class by Pro Rata Allocation, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.05(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the Class III-A-14A-3-L Regular Interests Interest and deposited for their its benefit into the Certificate Account in accordance with Section 4.01(i4.04(ii)). Amounts on deposit in the Class I-A-14 Rounding Accounts Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class by Pro Rata Allocation and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Certificates.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Wamu Mortgage Pass Through Cert Series 2001-5)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of principal is required to be distributed to the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 CertificatesSpecial Retail Certificates pursuant to Section 4.05(a)(ii), and the aggregate amount allocable of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such distributions Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.05(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the their Corresponding Class I-A-14-L Regular Interests and deposited for their its benefit into the Certificate Account in accordance with Section 4.01(i4.04(ii)). Amounts on deposit in the Class I-A-14 Rounding Accounts Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-3 Residual Interest.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Washington Mutual MSC Mort Pass THR Cert Ser 2003 Ms8)
therein. The Master Servicer shall maintain such account to provide, if needed, the applicable Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of principal is required to be distributed to the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 CertificatesSpecial Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount allocable of such principal is not an amount equal to an integral multiple of $1,000, the Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such distributions Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw such Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the Credit Support Depletion Date, with respect to which the Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the Servicer will instruct that the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the applicable Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the their Corresponding Class I-A-14-L Regular Interests and deposited for their its benefit into the Certificate Account in accordance with Section 4.01(i)4.01). Amounts on deposit in the Class I-A-14 Rounding Accounts Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date and (ii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-2 Residual Interest.
Appears in 1 contract
therein. The Master Servicer shall maintain such account to provide, if needed, the Rounding Amount on any Distribution Date. On the first Distribution Date with respect to which the Master Servicer determines that amounts are available out of principal is required to be distributed to the REMIC II Available Distribution Amount for distributions of principal on the Class I-A-14 CertificatesSpecial Retail Certificates pursuant to Section 4.04(a)(ii), and the aggregate amount allocable of such principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee by Noon New York City time two Business Days prior to such distributions Distribution Date of the Rounding Amount, and the Trustee shall withdraw the Rounding Amount from the Rounding Account. On each succeeding Distribution Date, prior to the earlier of (i) the Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Special Retail Certificates or its Corresponding Class by Pro Rata Allocation, with respect to which the Master Servicer determines that principal is required to be distributed to such Class pursuant to Section 4.04(a)(ii), the aggregate amount of such principal will be applied first to repay to the Rounding Account any funds withdrawn from the Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of such aggregate amount of principal is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon Noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account the Rounding Amount. On each succeeding Distribution Date, prior to the earlier of (i) the Group I Credit Support Depletion Date and (ii) the date on which any loss is allocated to the Class I-A-14 Certificates, with respect to which the Master Servicer determines that amounts are available out of the REMIC II Available Distribution Amount for distributions of principal on such Class, the aggregate amount allocable to such Class will be applied first to repay any funds withdrawn from the Class I-A-14 Rounding Account on prior Distribution Dates which have not been repaid. If the remainder of the aggregate amount allocable to distributions of principal on such Class is not an amount equal to an integral multiple of $1,000, the Master Servicer shall notify the Trustee in writing by noon New York City time two Business Days prior to such Distribution Date of the Rounding Amount, and the Trustee shall withdraw from the Class I-A-14 Rounding Account, to the extent funds are available therein, the amount so notified by the Master Servicer. Any amounts withdrawn by the Trustee from the Class I-A-14 Rounding Account shall be deposited in the Certificate Account for distribution to the Class I-A-14 Certificateholders Holders of the Special Retail Certificates as described in the immediately preceding paragraph (and shall be deemed to have been distributed to the Class I-A-14A-3-L Regular Interests Interest and deposited for their its benefit into the Certificate Account in accordance with Section 4.01(i4.01(ii)). Amounts on deposit in the Class I-A-14 Rounding Accounts Account shall not be invested. On the first Distribution Date after the earliest of (i) the Credit Support Depletion Date, (ii) the date on which any loss is allocated to the Special Retail Certificates or their Corresponding Class by Pro Rata Allocation and (iii) the date on which the Class Principal Balance of the Special Retail Certificates has been reduced to zero, the Trustee shall remit any amounts then remaining on deposit in the Rounding Account to the Holders of the Class R-1 Certificates.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (PNC Mortgage Securities Corp Mort Pass Throu Cert Ser 2000 6)