Common use of Allocation of Net Deferred Interest Clause in Contracts

Allocation of Net Deferred Interest. (a) For any Distribution Date, Net Deferred Interest for any Loan Group shall be allocated among the Classes of Senior Certificates related to such Loan Group and the Classes of Subordinate Certificates based on, in the case of each Class of Senior Certificates related to such Loan Group, the interest accrued on each such Class for the related Accrual Period, and, in the case of each Class of Subordinate Certificates, based on the interest accrued on each such Class allocable to the portion of such Class allocable to such Loan Group. For this purpose, the portion of the interest accrued on any Class of Subordinate Certificates allocable to any Loan Group shall be equal to the product of (i) the total amount of interest accrued on such Class for the Accrual Period multiplied by (ii) the quotient of (a) the Subordinate Component for such Loan Group and such Distribution Date divided by (b) the sum of the Subordinate Components for all such Loan Groups for such Distribution Date. (b) Net Deferred Interest allocated to the Class III-A-1-1 Underlying Interest will not be allocated to the Class III-A-1-1 Certificates, unless a Swap Counterparty Event is in effect.

Allocation of Net Deferred Interest. (a) For any Distribution Date, Net Deferred Interest for any Loan Group shall be allocated among the Classes of Senior Certificates related to such Loan Group and the Classes of Subordinate Certificates based on, in the case of each Class of Senior Certificates related to such Loan Group, the interest accrued on each such Class for the related Accrual Period, and, in the case of each Class of Subordinate Certificates, based on the interest accrued on each such Class allocable to the portion of such Class allocable to such Loan Group. For this purpose, the portion of the interest accrued on any Class of Subordinate Certificates allocable to any Loan Group shall be equal to the product of (i) the total amount of interest accrued on such Class for the Accrual Period multiplied by (ii) the quotient of (a) the Subordinate Component for such Loan Group and such Distribution Date divided by (b) the sum of the Subordinate Components for all such Loan Groups for such Distribution Date. (b) Net Deferred Interest allocated to the Class IIII-A-1A-2-1 2 Underlying Interest will not be allocated to the Class IIII-A-1A-2-1 2 Certificates, unless a Swap Counterparty Event is in effect.