Common use of Class Principal Carryover Shortfall Clause in Contracts

Class Principal Carryover Shortfall. To fund a distribution to Class C Certificateholders of the Class C Distribution Amount plus any Class C Carryforward Amount; provided that, pursuant to Section 3.21 hereof, on any Distribution Date as to which there is any unpaid Net Rate Cap Carryover, the Trustee will deposit from amounts that would otherwise be distributable to the Class C Certificateholders funds into the Net Rate Cap Fund for immediate application pursuant to this clause of the distribution of the related Net Rate Cap Carryover to the applicable Class of Offered Certificates, other than the Class A-IO Certificates, in proportion to their respective Net Rate Cap Carryover, and such deposit will constitute payment in full of and satisfaction of all obligations hereunder to distribute amounts equal to the related Net Rate Cap Carryover to the Class C Certificateholders, including for purposes of Section 9.16, and the Trustee, the Servicer and the Class C Certificateholders agree hereby appropriately to report any deposit of Net Rate Cap Carryover as if corresponding distributions had been made to the Class C Certificateholders for federal income tax and accounting purposes with respect to the Class C Distribution Amount and Class C Carryforward Amount. (All distributions or deemed distributions with respect to the Class C Distribution Amount and Class C Carryforward Amount shall be applied first to the interest components of such amounts and second to reduce the Class C Certificate Principal Balance).

Class Principal Carryover Shortfall. To fund a distribution to Class C Certificateholders of the Class C Distribution Amount plus any Class C Carryforward Amount; provided that, pursuant to Section 3.21 hereof, on any Distribution Date as to which there is any unpaid Net Rate Cap Carryover, the Trustee will deposit from amounts that would otherwise be distributable to the Class C Certificateholders funds into the Net Rate Cap Fund for immediate application pursuant to this clause of the distribution of the related Net Rate Cap Carryover to the applicable Class of Offered Certificates, other than the Class A-1, Class A-2 and Class A-IO Certificates, in proportion to their respective Net Rate Cap Carryover, and such deposit will constitute payment in full of and satisfaction of all obligations hereunder to distribute amounts equal to the related Net Rate Cap Carryover to the Class C Certificateholders, including for purposes of Section 9.16, and the Trustee, the Servicer and the Class C Certificateholders agree hereby appropriately to report any deposit of Net Rate Cap Carryover as if corresponding distributions had been made to the Class C Certificateholders for federal income tax and accounting purposes with respect to the Class C Distribution Amount and Class C Carryforward Amount. (All distributions or deemed distributions with respect to the Class C Distribution Amount and Class C Carryforward Amount shall be applied first to the interest components of such amounts and second to reduce the Class C Certificate Principal Balance).