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

ALLOCATION AND DISTRIBUTION OF PRINCIPAL RECEIPTS. ON OR AFTER THE OCCURRENCE OF A NON-ASSET TRIGGER EVENT BUT PRIOR TO THE OCCURRENCE OF AN ASSET TRIGGER EVENT On each Distribution Date where a Non-Asset Trigger Event has occurred on or before the immediately preceding Calculation Date and an Asset Trigger Event has not occurred on or before that Calculation Date, all Mortgages Trust Available Principal Receipts shall be allocated and distributed to Funding 1 until the Funding 1 Share of the Trust Property (as calculated on the relevant Share Calculation Date) is zero and shall thereafter be allocated and paid to the Seller.