Common use of Distributions of Principal Distribution Amount Clause in Contracts

Distributions of Principal Distribution Amount. On each Distribution Date, an amount up to the Principal Distribution Amount for that Distribution Date shall be distributed (with the Principal Remittance Amount being applied first and the Extra Principal Distribution Amount being applied thereafter) by the Trustee from the Distribution Account in the following priority: (i) For each Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, in the following priority: (A) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty with respect to that Distribution Date not previously paid from the Interest Funds; (B) concurrently, to the Class R, Class RC and Class RX Certificates, pro rata, until their respective Class Certificate Balances are reduced to zero; (C) concurrently, to (x) the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero; (D) sequentially, to the Class M-1, Class M-2, Class M-3, ▇▇▇▇▇ ▇-▇, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero; and (E) any remainder as part of the Excess Cashflow to be allocated as described under Section 4.02(c) below. (ii) For each Distribution Date on or after the Stepdown Date and so long as a Trigger Event is not in effect, from the Principal Distribution Amount, in the following priority: (A) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty with respect to that Distribution Date not previously paid from the Interest Remittance Amount; (B) the Senior Principal Distribution Amount, concurrently, to (x) the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero; (C) sequentially, to the Class M-1, Class M-2, Class M-3, ▇▇▇▇▇ ▇-▇, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order,, the Subordinated Class Principal Distribution Target Amount for each such Class for that Distribution Date, in each case until its Class Certificate Balance is reduced to zero; and (D) any remainder as part of the Excess Cashflow to be allocated as described under 4.02(c) below.

Distributions of Principal Distribution Amount. On each Distribution Date, an amount up to the Principal Distribution Amount for that Distribution Date shall be distributed (with the Principal Remittance Amount being applied first and the Extra Principal Distribution Amount being applied thereafter) allocated by the Trustee from the Distribution Account in the following priority: (i) For each Distribution Date (or in the case of payments to the Swap Counterparty, the Business Day prior to each Distribution Date) prior to the Stepdown Date or on which a Trigger Event is in effect, in until the following priorityaggregate Class Certificate Balance of the Certificates equals the Target Amount for that Distribution Date: (A) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable Payment, to the Swap Counterparty with respect to that Distribution Date extent not previously paid, or not paid from the Interest Funds; (B) concurrently, to the Class R, Class RC and Class RX Classes of Senior Certificates, pro rata, until their respective Class Certificate Balances are reduced to zero; (C) concurrently, to (x) the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero; (D) sequentially, to the Class M-1, Class M-2, Class M-3, ▇▇▇▇▇ ▇-▇, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero; and (E) any remainder as part of the Excess Cashflow to be allocated as described under Section 4.02(c) below. (ii) For each Distribution Date on or after the Stepdown Date and so long as a Trigger Event is not in effect, from the Principal Distribution Amount, in the following priority: (A) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty with respect to that Distribution Date not previously paid from the Interest Remittance Amount; (B) the Senior Principal Distribution Amount, concurrently, to (x) the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero; (C) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-▇, ▇▇▇▇▇ ▇-▇, Class M-5, Class M-6, Class M-7 ▇ and Class M-8 Certificates, in that order,, the Subordinated Class Principal Distribution Target Amount for each such Class for that Distribution Date, in each case until its their respective Class Certificate Balance is Balances are reduced to zero; and (D) any remainder as part of the Excess Cashflow to be allocated as described under Section 4.02(c) below. (ii) For each Distribution Date (or in the case of payments to the Swap Counterparty, the Business Day prior to each Distribution Date) on or after the Stepdown Date and so long as a Trigger Event is not in effect, in the following priority: (A) to the Swap Account, the Net Swap Payment and Swap Termination Payment, to the extent not previously paid, or not paid from the Interest Funds; (B) for so long as any Class of Subordinated Certificates is outstanding, to the Senior Certificates in accordance with clause (b)(i)(a), in an amount equal to the lesser of (x) the Principal Distribution Amount for that Distribution Date and (y) the Senior Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of each such Class has been reduced to zero; or (b) otherwise concurrently to each Class of Senior Certificates, pro rata, the Principal Distribution Amount for that Distribution Date; (C) to the Class M-1 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates on that Distribution Date pursuant to clause second above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause 4.02(b)(ii)(a) above and (y) the Class M-1 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; (D) to the Class M-2 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) and (c) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause first above and (y) the Class M-2 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; (E) to the Class M-3 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1 and Class M-2 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) through (d) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause (a) and (y) the Class M-3 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; (F) to the Class M-4 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) through (e) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause (a) above and (y) the Class M-4 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; (G) to the Class M-5 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) through (f) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause (a) above and (y) the Class M-5 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; (H) to the Class M-6 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) through (g) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause (a) above and (y) the Class M-6 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; (I) to the Class M-7 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) through (h) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause (a) above and (y) the Class M-7 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; and (J) to the Class M-8 Certificates, an amount equal to the lesser of (x) the excess of (a) the Principal Distribution Amount for that Distribution Date over (b) the amount distributed to the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates on that Distribution Date pursuant to clauses 4.02(b)(ii)(b) through (i) above minus any Net Swap Payment or Swap Termination Payment paid on that Distribution Date pursuant to clause (a) above and (y) the Class M-8 Principal Distribution Amount for that Distribution Date, until the Class Certificate Balance of that Class has been reduced to zero; and (K) any remainder as part of the Excess Cashflow to be allocated as described under 4.02(c) below.

Distributions of Principal Distribution Amount. On each Distribution Date, an amount up to the Principal Distribution Amount for that Distribution Date shall be distributed (with the Principal Remittance Amount being applied first and the Extra Principal Distribution Amount being applied thereafter) by the Trustee from the Distribution Account in the following priority: (i) For each Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, in the following priority: (A) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty with respect to that Distribution Date not previously paid from the Interest Funds; (B) concurrently, to the Class R, Class RC and Class RX Certificates, pro rata, A-R Certificates until their respective its Class Certificate Balances are Balance is reduced to zero; (C) concurrently, to (x) the Class A-1, Class A-2, A-2 and Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero; (D) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Cla▇▇ ▇-▇ ▇▇▇▇▇ ▇-▇, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates▇cates, in that order, until their respective Class Certificate Balances are reduced to zero; and (E) any remainder as part of the Excess Cashflow to be allocated as described under Section 4.02(c) below. (ii) For each Distribution Date on or after the Stepdown Date and so long as a Trigger Event is not in effect, from the Principal Distribution Amount, in the following priority: (A) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty with respect to that Distribution Date not previously paid from the Interest Remittance Amount; (B) in an amount up to the Senior Principal Distribution AmountAmount for that Distribution Date, concurrently, to (x) the Class A-1, Class A-2, A-2 and Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero;, (C) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Cla▇▇ ▇-▇ ▇▇▇▇▇ ▇-▇, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates▇cates, in that order,, the Subordinated Class Principal Distribution Target Amount for each such Class for that Distribution Date, in each case until its Class Certificate Balance is reduced to zero; and (D) any remainder as part of the Excess Cashflow to be allocated as described under 4.02(c) below.

Distributions of Principal Distribution Amount. On each Distribution Date, an amount up to the Principal Distribution Amount for that Distribution Date shall be distributed allocated (with the Principal Remittance Amount being applied first and the Extra Principal Distribution Amount being applied thereafter) by the Trustee from the Distribution Account in the following priority: (i) For each Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, in the following priority: (A) : first, to the Swap AccountSupplemental Interest Reserve Fund, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable ), to the Swap Counterparty with respect to that Distribution Date extent not previously paid from Interest Remittance Amount; second, to the Interest Funds; (B) Class A-R Certificates, until its Class Certificate Balance is reduced to zero; third,concurrently, to the Class R, Class RC A-1 and Class RX A-2 Certificates, pro ratarata based on their respective Class Certificate Balances, until their respective Class Certificate Balances are reduced to zero; (C) concurrently; fourth, to (x) the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 Certificates, pro rata, on the basis of the aggregate Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y), until their respective Class Certificate Balances are reduced to zero; (D) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, ▇▇▇▇▇ ▇-▇, Class M-5▇lass M-7, Class M-6, Class M-7 M-8 and Class M-8 M-9 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero; and (E) and fifth, any remainder as part of the Excess Cashflow to be allocated as described under Section 4.02(c) below. (ii) For each Distribution Date on or after the Stepdown Date and so long as a Trigger Event is not in effect, from the Principal Distribution Amount, in the following priority: (A) : first, to the Swap AccountSupplemental Interest Reserve Fund, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable ), to the Swap Counterparty with respect to that Distribution Date extent not previously paid from the Interest Remittance Amount; (B) ; second, in an amount up to the Senior Principal Distribution Amount, concurrently, to (x) the Class A-1, Class A-2, Class A-3 A-1 and Class A-4 Certificates in accordance with the Allocation Method, and (y) the Class A-5 A-2 Certificates, pro rata, rata based on the basis of the aggregate their respective Class Certificate Balance in clause (x) and the Class Certificate Balance in clause (y)Balances, until their respective Class Certificate Balances are reduced to zero; (C) ; third, sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, ▇▇▇▇▇ ▇-▇, Class M-5▇lass M-7, Class M-6, Class M-7 M-8 and Class M-8 M-9 Certificates, in that order,, the related Subordinated Class Principal Distribution Target Amount for each such Class for that Distribution Date, in each case until its their respective Class Certificate Balance is Balances are reduced to zero; and (D) and fourth, any remainder as part of the Excess Cashflow to be allocated as described under Section 4.02(c) below.