Common use of Distributions from the Certificate Account Clause in Contracts

Distributions from the Certificate Account. (a) On each Distribution Date, the Trustee shall calculate each of the Interest Remittance Amount and the Principal Remittance Amount, in each case for such date. All amounts on deposit in the Certificate Account on any such Distribution Date (after giving effect to Section 5.01(a)) shall be distributed as provided in this Section. (b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount concurrently, on a pro rata basis, to the Senior Certificates, Current Interest and any Carryforward Interest for such Classes for such Distribution Date (any shortfall in Current Interest and Carryforward Interest to be allocated among such classes in proportion to the amount of Current Interest and Carryforward Interest that would otherwise be distributable thereon). (c) On each Distribution Date, the Trustee shall distribute the Principal Remittance Amount for such date in the following order of priority: (i) to the Class A1 Certificates, until the Class Principal Amount of such Class has been reduced to zero; (ii) to the Class A2 Certificates, until the Class Principal Amount of such Class has been reduced to zero; and (iii) any remaining amounts to the Class R Certificate.

Distributions from the Certificate Account. (a) On each Distribution Date, the Trustee shall calculate each of the Interest Remittance Amount and the Principal Remittance Amount, in each case for such date. All amounts on deposit in the Certificate Account on any such Distribution Date (after giving effect to Section 5.01(a)) shall be distributed as provided in this Section. (b) On each Distribution Date, the Trustee shall distribute the Interest Remittance Amount concurrently, on a pro rata basis, to the Senior Certificates, Current Interest and any Carryforward Interest for such Classes for such Distribution Date (any shortfall in Current Interest and Carryforward Interest to be allocated among such classes in proportion to the amount of Current Interest and Carryforward Interest that would otherwise be distributable thereon); provided, however, that before the Accretion Termination Date, the Trustee shall not distribute any of the Interest Remittance Amount to the Class A2 Certificates but instead shall increase the Class Principal Amount of the Class A2 Certificates by the Accrual Amount for such Distribution Date, as described under Section 5.04 hereof. (c) On each Distribution Date, the Trustee shall distribute the Principal Remittance Amount for such date in the following order of priority: (i) to the Class A1 Certificates, until the Class Principal Amount of such Class has been reduced to zero; (ii) to the Class A2 Certificates, until the Class Principal Amount of such Class has been reduced to zero; and (iii) any remaining amounts to the Class R Certificate.