Common use of ALLOCATION AND DISTRIBUTION OF PRINCIPAL RECEIPTS PRIOR TO THE Clause in Contracts

ALLOCATION AND DISTRIBUTION OF PRINCIPAL RECEIPTS PRIOR TO THE. OCCURRENCE OF A TRIGGER EVENT On each Distribution Date where no Trigger Event has occurred on or before the immediately preceding Calculation Date, the Cash Manager shall allocate and distribute Mortgages Trust Available Principal Receipts as follows: (a) firstly, where Funding 1 has no Cash Accumulation Requirement and no Repayment Requirement on that Distribution Date, to allocate the Mortgages Trust Available Principal Receipts to the Seller until the Seller Share of the Trust Property (as calculated on the Relevant Share Calculation Date) is equal to the Minimum Seller Share; (b) secondly, if Funding 1 has a Cash Accumulation Requirement on that Distribution Date, to allocate the Mortgages Trust Available Principal Receipts to Funding 1 in an amount up to but not exceeding Funding 1's Cash Accumulation Requirement on that Distribution Date; (c) thirdly, if Funding 1 has a Repayment Requirement on that Distribution Date, to allocate the Mortgages Trust Available Principal Receipts to Funding 1 in an amount up to but not exceeding Funding 1's Repayment Requirement on that Distribution Date; and (d) fourthly, to allocate the remainder of the Mortgages Trust Available Principal Receipts, if any, to the Seller until the Seller Share of the Trust Property (as calculated on the Relevant Share Calculation Date) is equal to the Minimum Seller Share.