REMIC III Distribution Amount. The REMIC III Available Distribution Amount for any Distribution Date shall be distributed to the Certificates and the Class R-3 Residual Interest in the following amounts and priority:
REMIC III Distribution Amount shall not cause a reduction in the Class Principal Balances or Component Principal Balances of any of the Classes of REMIC III Regular Interests or Components thereof; and
REMIC III Distribution Amount. For any Distribution Date, the REMIC III Available Distribution Amount shall be deemed distributed to the Class A Certificates and Class M Certificates in respect of the portion of such Certificates representing ownership of REMIC III Regular Interests, REMIC III Regular Interests SB-IO, SB-PO and IO and the Class R-1 Certificates in respect of Component III thereof in the following amounts and priority:
Examples of REMIC III Distribution Amount in a sentence
The Class R-III Certificates will have no principal balances and no pass-through rate, but will be entitled to receive on each Distribution Date any portion of the REMIC III Distribution Amount for such Distribution Date not otherwise deemed distributed on the REMIC III Regular Certificates.
However, as in the early work of Krafft-Ebing, the health professionals in these instances typically regarded their patients as deluded.
More Definitions of REMIC III Distribution Amount
REMIC III Distribution Amount. (I) For any Distribution Date prior to the Credit Support Depletion Date, the REMIC III Available Distribution Amount for each Loan Group for such Distribution Date shall be distributed to the REMIC III Regular Interests and the Class R-3 Residual Interest in the following amounts and priority, to the extent of the REMIC III Available Distribution Amount for the applicable Loan Group for such Distribution Date:
REMIC III Distribution Amount shall not cause a reduction in the Class Principal Balances of any of the Classes of Group 3-A and Group 3-B Certificates; and
REMIC III Distribution Amount. For any Distribution Date, the REMIC III Available Distribution Amount shall be deemed distributed by REMIC III to the Holders of the Certificates (other than the Residual, Class B-IO and Class XP Certificates) on account of the REMIC III Regular Interests (other than REMIC III Regular Interests I-B-IO, I-B-IO-P, II-B-IO and II-B-IO-P), to REMIC IV on account of REMIC III Regular Interests I-B-IO-I, I-B-IO-P, II-B-IO-I and II-B-IO-P and to the holders of Class R Certificates in respect of Component III thereof, as follows: to each REMIC III Regular Interest in respect of Uncertificated Accrued Interest thereon and the Uncertificated Principal Balance thereof, the amount distributed in respect of interest and principal on the Class or Classes of Certificates bearing the same designation (with such amounts having the same character as interest or principal with respect to the REMIC III Regular Interest as they have with respect to such Certificates), except that (1) no amount paid to any Certificate in respect of any Basis Risk Shortfall or Basis Risk Shortfall Carry-Forward Amount or, in the case of the Class I-A Certificates or Class I-B Certificates, in respect of interest accrued at a Pass-Through Rate in excess of the Modified Net Rate Cap, shall be included in the amount paid in respect of the related REMIC III Regular Interest and (2) any amount paid in respect of Basis Risk Shortfall Carry-Forward Amounts and, in the case of the Class I-A and Class I-B Certificates, interest accrued at a Pass-Through Rate in excess of the Modified Net Rate Cap, shall be deemed paid with respect to REMIC III Regular Interest I-B-IO-I or REMIC III Regular Interest II-B-IO-I, as applicable, in respect of accrued and unpaid interest thereon. Any remaining amount of the REMIC III Available Distribution Amount shall be distributed to the Holders of the Class R Certificates in respect of Component III thereof.
REMIC III Distribution Amount shall not cause a reduction in the Class Principal Balances of the REMIC III Regular Interests or their Corresponding Classes, (B) any amounts distributed in respect of principal losses pursuant to clause (v) of the definition of “REMIC II Distribution Amount” shall not cause a reduction in the Class Principal Balances of the REMIC II Regular Interests and (C) any amounts distributed in respect of principal losses pursuant to clause (c)(i) of the definition of “REMIC I Distribution Amount” shall not cause a reduction in the Class Principal Balances of the REMIC I Regular Interests. In addition to the foregoing, on each Distribution Date, the Class Principal Balance of the Class of Subordinate Certificates with the lowest priority then outstanding (and its Corresponding Class of REMIC III Regular Interests) shall be increased by an amount equal to the lesser of (i) the Subsequent Recoveries for such Distribution Date and (ii) the amount of Realized Losses allocated to such Class on previous Distribution Dates (the amount in this clause (ii) reduced by the amount, if any, by which such Class Principal Balance has been increased on prior Distribution Dates pursuant to this paragraph). The Class Principal Balance for the Class 1-A-1A Certificates shall be referred to as the “Class 1-A-1A Principal Balance,” the Class Principal Balance for the Class 1-A-1A-L Regular Interest shall be referred to as the “Class 1-A-1A-L Principal Balance” and so on. The Class Principal Balances for the Class X PO-1 and Class X PO-2 Components of the Class X-L Regular Interest shall each be zero as of the Closing Date and shall increase after the Closing Date by the portion, if any, of the related Net Negative Amortization Amounts allocated to the Class X-L Regular Interest pursuant to the definition of “Net Negative Amortization Amount”.
REMIC III Distribution Amount. For any Distribution Date, the REMIC III Available Distribution Amount shall be distributed by REMIC III to REMIC IV on account of the REMIC III Regular Interests and to the Class R Certificates in respect of Component III thereof, as follows: to each REMIC III Regular Interest in respect of Uncertificate Accrued Interest thereon and the Uncertificated Principal Balance thereof, the amount distributed in respect of interest and principal on the Related Class or Classes of Certificates (with such amounts having the same character as interest or principal with respect to the REMIC III Regular Interest as they have with respect to the Related Certificate or Certificates) with the following exception: No amount paid to any Certificate in respect of any Basis Risk Shortfall Amount or Basis Risk Shortfall Carryforward Amount shall be included in the amount paid in respect of a related REMIC III Regular Interest. Any remaining amount of the REMIC III Available Distribution Amount shall be distributed to the holders of the Class R Certificates in respect of Component III thereof.
REMIC III Distribution Amount has the meaning set forth in Section 6.3(c).
REMIC III Distribution Amount shall not cause a reduction in the Component Principal Balance of any Component of the Class CA-1C-L Regular Interest. The Component Principal Balance for the Class CA-1C Group 1 Component shall be referred to as the “Class CA-1C Group 1 Component Principal Balance,” the Component Principal Balance for the Class CA-1C Group 2 Component shall be referred to as the “Class CA-1C Group 2 Component Principal Balance” and so on. Cooperative: A private cooperative housing corporation which owns or leases land and all or part of a building or buildings, including apartments, spaces used for commercial purposes and common areas therein and whose board of directors authorizes, among other things, the sale of Cooperative Stock.