Class M-3 Principal Payment Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, the amount, if any, by which (x) the sum of (i) the Certificate Principal Balances of the Senior, Class M-1 Certificates and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Certificate Principal Balance of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 95.20% and (ii) the Aggregate Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Loan Balance as of the Cut-off Date.
Class M-3 Principal Payment Amount. With respect to any Payment Date, the excess of (x) the sum of (i) the aggregate Note Balance of the Class A Notes (after taking into account the payment of the Senior Principal Payment Amount on such Payment Date), (ii) the Note Balance of the Class M-1 Notes (after taking into account the payment of the Class M-1 Principal Payment Amount on such Payment Date), (iii) the Note Balance of the Class M-2 Notes (after taking into account the payment of the Class M-2 Principal Payment Amount on such Payment Date) and (iv) the Note Balance of the Class M-3 Notes immediately prior to such Payment Date over (y) the lesser of (A) the product of (i) 74.50% and (ii) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period and (B) the aggregate Stated Principal Balance of the Mortgage Loans as of the last day of the related Due Period minus $14,504,838.
Class M-3 Principal Payment Amount. With respect to any Payment Date: (1) prior to the Stepdown Date or on or after the Stepdown Date if a Trigger Event is in effect, the remaining Principal Payment Amount for that Payment Date after payment of the Senior Principal Payment Amount, the Class M-1 Principal Payment Amount and the Class M-2 Principal Payment Amount, or (2) on or after the Stepdown Date if a Trigger Event is not in effect for that Payment Date, the lesser of: o the remaining Principal Payment Amount for that Payment Date after payment of the Senior Principal Payment Amount, the Class M-1 Principal Payment Amount and the Class M-2 Principal Payment Amount; and o the excess of (A) the sum of (1) the aggregate Note Balance of the Class A, Class M-1 and Class M-2 Notes (after taking into account the payment of the sum of the Senior Principal Payment Amount, the Class M-1 Principal Payment Amount and the Class M-2 Principal Payment Amount for that Payment Date) and (2) the Note Balance of the Class M-3 Notes immediately prior to that Payment Date over (B) the lesser of (x) the product of (1) the applicable Subordination Percentage and (2) the Pool Balance after giving effect to payments to be made on that Payment Date and (y) the excess of the Pool Balance after giving effect to payments to be made on that Payment Date, over the Reserve Amount Floor. In no event will the Class M-3 Principal Payment Amount on any Payment Date be greater than the Note Balance of the Class M-3 Notes.
More Definitions of Class M-3 Principal Payment Amount
Class M-3 Principal Payment Amount. As to any Payment Date on or after the Stepdown Date, (x) if a Delinquency Event is in effect and the aggregate Class Note Balances of the Senior, Class M-1 and Class M-2 Notes have been reduced to zero, 100% of the remaining Principal Payment Amount, or (y) if a Delinquency Event is not in effect: the excess of (1) the sum of (A) the aggregate Class Note Balance of the Senior Notes (after giving effect to payment of the Senior Principal Payment Amount for such Payment Date), (B) the Class Note Balance of the Class M-1 Notes (after giving effect to payment of the Class M-1 Principal Payment Amount for such Payment Date), (C) the Class Note Balance of the Class M-2 Notes (after giving effect to payment of the Class M-2 Principal Payment Amount for such Payment Date) and (D) the Class Note Balance of the Class M-3 Notes immediately prior to such Payment Date over (2) the lesser of (A) 85.20% of the Pool Balance as of the last day of the related Due Period, minus the Subordination Required Overcollateralization Amount for that Payment Date and (B) the Pool Balance as of the last day of the related Due Period minus the OC Floor.
Class M-3 Principal Payment Amount. With respect to any Payment Date before the Stepdown Date or for which a Trigger Event is in effect, zero, and with respect to any Payment Date on or after the Stepdown Date and as long as a Trigger Event is not in effect the excess of:
Class M-3 Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1, Class P, Class A-R, Class A-RL, Class M-1 and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 60.20% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date. Class M-4 Pass-Through Rate: With respect to the initial Interest Accrual Period (a) on or prior to the Optional Termination Date, the lesser of (i) 5.265% per annum and (ii) the Net Funds Cap, and (b) after the Optional Termination Date, the lesser of (i) 5.765% per annum and (ii) the Net Funds Cap.
Class M-3 Principal Payment Amount. With respect to any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the Certificate Principal Balances of the Senior Certificates, Class M-1 Certificates and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Certificate Principal Balance of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) approximately 93.20% and (ii) the Aggregate Loan Balance for such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period to the extent received or advanced, unscheduled collections of principal received during the related Prepayment Period and after reduction for Realized Losses on the Mortgage Loans incurred during the related Due Period) and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period to the extent received or advanced, unscheduled collections of principal received during the related Prepayment Period and after reduction for Realized Losses on the Mortgage Loans incurred during the related Due Period) exceeds (ii) 0.35% of the Aggregate Loan Balance as of the Cut-off Date.
Class M-3 Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event has not occurred with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1, Class A-2, Class A-3, Class P, Class A-R, Class A-RL, Class M-1 and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 58.60% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date.
Class M-3 Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balances of the Senior Certificates and the aggregate Class Principal Balance of the Class M-1 Certificates and Class M-2 Certificates, in each case, after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 93.60% and (ii) the Aggregate Loan Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Loan Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Loan Balance as of the Cut-off Date.
Class M-3 Principal Payment Amount. For any Distribution Date on or after the Stepdown Date and as long as a Trigger Event is not in effect with respect to such Distribution Date, will be the amount, if any, by which (x) the sum of (i) the aggregate Class Principal Balance of the Class A-1A, Class A-1F1, Class A-1F2, Class A-2A, Class A-2F, Class P, Class A-R, Class A-RL, Class M-1 and Class M-2 Certificates after giving effect to payments on such Distribution Date and (ii) the Class Principal Balance of the Class M-3 Certificates immediately prior to such Distribution Date exceeds (y) the lesser of (A) the product of (i) 62.30% and (ii) the Aggregate Collateral Balance for such Distribution Date and (B) the amount, if any, by which (i) the Aggregate Collateral Balance for such Distribution Date exceeds (ii) 0.50% of the Aggregate Collateral Balance as of the Cut-off Date. Class M-4 Pass-Through Rate: With respect to the initial Interest Accrual Period, based on a LIBOR determination date of December 27, 2005, 5.060% per annum. With respect to any Interest Accrual Period thereafter, will be a per annum rate equal to the lesser of (i) the sum of LIBOR plus the related Certificate Margin and (ii) the Net Funds Cap.