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

ALLOCATION AND DISTRIBUTION OF PRINCIPAL RECEIPTS. ON OR AFTER THE OCCURRENCE OF AN ASSET TRIGGER EVENT On each Distribution Date where an Asset Trigger Event has occurred on or before the immediately preceding Calculation Date, all Mortgages Trust Available Principal Receipts shall be allocated and distributed pari passu and pro rata between Funding 1 and the Seller according to the Current Funding 1 Share Percentage of the Trust Property (as calculated on the Relevant Share Calculation Date) and the Current Seller Share Percentage of the Trust Property (as calculated on the Relevant Share Calculation Date) respectively until, in the case of Funding 1, the Funding 1 Share of the Trust Property is zero (and, for the avoidance of doubt, such payments may reduce the Current Seller Share to an amount less than the Minimum Seller Share). When the Funding 1 Share of the Trust Property is zero, the remaining Mortgages Trust Available Principal Receipts (if any) shall be allocated to the Seller.