Common use of Distributions on the Uncertificated REMIC I Regular Interests Clause in Contracts

Distributions on the Uncertificated REMIC I Regular Interests. On each Distribution Date, the Trustee shall cause the Available Funds, in the following order of priority, to be distributed by REMIC I to REMIC II on account of the Uncertificated REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R-I Certificates, as the case may be: (i) first, to the Holders of Uncertificated REMIC I Regular Interest LTB, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates and second, CONCURRENTLy, to Holders of Uncertificated REMIC I Regular Interest LTA and to Holders of Uncertificated REMIC I Regular Interest LTP in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates; and (ii) second, to the Holders of the Uncertificated REMIC I Regular Interests, in an amount equal to the remainder of the Available Funds (less Available Funds used to reimburse the Certificate Insurer pursuant to Section 4.01(a)(iii)) for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows: (a) to the Holders of Uncertificated REMIC I Regular Interest LTP, on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter until $100 has been distributed pursuant to this clause; (b) to the Holders of Uncertificated REMIC I Regular Interest LTA, until the Uncertificated Principal Balance of Uncertificated REMIC I Regular Interest LTA is reduced to zero; (c) to the Holders of Uncertificated REMIC I Regular Interest LTB, until the Uncertificated Principal Balance of Uncertificated REMIC I Regular Interest LTB is reduced to zero; then (d) any remaining amount to the Holders of the Class R-I Certificates.

Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date, Date the Trustee shall cause be deemed to distribute to itself, as the Available Funds, in the following order of priority, to be distributed by REMIC I to REMIC II on account holder of the Uncertificated REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the Holders holder of the Class R-I CertificatesCertificate, as Uncertificated Accrued Interest on the case may be: (i) first, to the Holders of Uncertificated REMIC I Regular Interest LTBInterests and Class R-1 Certificate, in an amount equal to (A) the Uncertificated Accrued Interest pro rata, for such Distribution Date, plus (B) any amounts in respect thereof Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Dates and second, CONCURRENTLy, Date. (b) Distributions of principal from the Group IV Loans shall be deemed to Holders of be made to the Uncertificated REMIC I Regular Interest LTA R-II and to Holders of Uncertificated REMIC Class R-I Regular Interest LTP in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution DateCertificate, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates; and (ii) second, to the Holders of the Uncertificated REMIC I Regular Interests, in an amount equal to the remainder of the Available Funds (less Available Funds used to reimburse the Certificate Insurer pursuant to Section 4.01(a)(iii)) for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows: (a) to the Holders of Uncertificated REMIC I Regular Interest LTP, on the Distribution Date immediately following the expiration of the latest Prepayment Charge as identified on the Prepayment Charge Schedule or any Distribution Date thereafter until $100 has been distributed pursuant to this clause; (b) to the Holders of Uncertificated REMIC I Regular Interest LTApro rata, until the Uncertificated Principal Balance of the Uncertificated REMIC I Regular Interest LTA is reduced to zero; (c) to R-II and the Holders of Uncertificated REMIC I Regular Interest LTB, until the Uncertificated Principal Balance of Uncertificated REMIC I Regular Interest LTB is reduced to zero; then (d) any remaining amount to the Holders principal balance of the Class R-I CertificatesCertificate have been reduced to zero. (c) Distributions shall be deemed to be made to the Uncertificated REMIC I Regular Interests (other than Uncertificated REMIC I Regular Interest R-II) first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Amount, the Group II Subordinate Amount, the Group III Subordinate Amount, the Group IV Subordinate Amount, the Group V Subordinate Amount or the Group VI Subordinate Amount, as the case may be (except that if on any Distribution Date the Subordinate Amount for any Loan Group is greater than the Subordinate Amount for such Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to Uncertificated REMIC I Regular Interests I-A, II-A, III-A, IV-A, V-A and VI-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, any remaining principal shall be distributed to Uncertificated REMIC I Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest ending with the designation "B" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the principal balance of each Uncertificated REMIC I Regular Interest ending with the designation "A" equal to 0.01% of the Group I Subordinate Amount, the Group II Subordinate Amount, the Group III Subordinate Amount, the Group IV Subordinate Amount, the Group V Subordinate Amount or the Group VI Subordinate Amount as the case may be (except that if on any Distribution Date the Subordinate Amount for any Group of Loans is greater than the Subordinate Amount for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to Uncertificated REMIC I Regular Interests I-A, II-A, III-A, IV-A, V-A and VI-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, the remaining Realized Losses shall be allocated to Uncertificated REMIC I Regular Interest ZZZ. (d) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests described in this Section 10.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 4.02.

Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date, Date the Trustee shall cause the Available Funds, in the following order of priority, be deemed to be distributed by REMIC I distribute to REMIC II on account of the Uncertificated REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the Holders of the Class R-I Certificatesitself, as the case may be: (i) first, to the Holders of Uncertificated REMIC I Regular Interest LTB, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates and second, CONCURRENTLy, to Holders of Uncertificated REMIC I Regular Interest LTA and to Holders of Uncertificated REMIC I Regular Interest LTP in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates; and (ii) second, to the Holders holder of the Uncertificated REMIC I Regular Interests, in an amount equal to Uncertificated Accrued Interest on the remainder of the Available Funds (less Available Funds used to reimburse the Certificate Insurer pursuant to Section 4.01(a)(iii)) Uncertificated REMIC I Regular Interests, pro rata, for such Distribution Date after the distributions made pursuant to clause (i) aboveDate, allocated as follows:plus any Uncertificated Accrued Interest thereon remaining unpaid from any previous Distribution Date. (ab) Distributions shall be deemed to be made to the Holders Uncertificated REMIC I Regular Interests first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest LTP, on ending with the Distribution Date immediately following the expiration designation "B" equal to 0.01% of the latest Prepayment Charge aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, so as identified on to keep the Prepayment Charge Schedule or any Distribution Date thereafter until $100 has been distributed pursuant to this clause; (b) to the Holders principal balance of each Uncertificated REMIC I Regular Interest LTAending with the designation "A" equal to 0.01% of the Group I Subordinate Amount, until the Group II Subordinate Amount or the Group III Subordinate Amount, as the case may be (except that if on any Distribution Date the Subordinate Amount for any Loan Group is greater than the Subordinate Amount for such Loan Group on the preceding Distribution Date, the least amount of principal shall be distributed to REMIC I Regular Interests I-A, II-A and III-A such that the REMIC I Subordinate Balance Ratio is maintained); and third, any remaining principal shall be distributed to REMIC I Regular Interest ZZZ. Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of each Uncertificated REMIC I Regular Interest LTA is reduced ending with the designation "B" equal to zero; (c) 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, Realized Losses shall be applied after all distributions have been made on each Distribution Date, so as to keep the Holders principal balance of each Uncertificated REMIC I Regular Interest LTBending with the designation "A" equal to 0.01% of the Group I Subordinate Amount, until the Uncertificated Principal Group II Subordinate Amount or the Group III Subordinate Amount, as the case may be (except that if on any Distribution Date the Subordinate Amount for any Group of Loans is greater than the Subordinate Amount for such Group of Loans on the preceding Distribution Date, the least amount of Realized Losses shall be applied to REMIC I Regular Interests I-A, II-A and III-A such that the REMIC I Subordinate Balance of Ratio is maintained); and third, the remaining Realized Losses shall be allocated to REMIC I Regular Interest ZZZ. (c) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interest LTB is reduced to zero; then (d) any remaining amount to Interests described in this Section 10.04, distributions of funds from the Holders of the Class R-I CertificatesCertificate Account shall be made only in accordance with Section 4.02.