Common use of Distribution of Net Counterparty Payments Clause in Contracts

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee Master Servicer shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Class A Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class A1A, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, M9 and Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, M9 and Class M10 and Class M11 Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, M9 and Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class A1A, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, M9 and Class M10 and Class M11 Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee Trust Administrator shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class A1A, Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 and Class M11 Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 M10, Class M11 and Class M11 M12 Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9, Class M10 M10, Class M11 and Class M11 M12 Certificates Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.

Distribution of Net Counterparty Payments. (a) On each Distribution Date, the Trustee Master Servicer shall distribute any Net Counterparty Payment for such date, sequentially, as follows: (i) to the Class A Certificates, pro rata based on amounts due, any Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (ii) to the Class M1[___], Class M2[___], Class M3[___], Class M4[___], Class M5[___], Class M6[___], Class M7[___], Class M8[___], Class M9[___], Class M10 [___], Class [___] and Class M11 [___] Certificates, in that order, Monthly Interest Distributable Amount and any Unpaid Interest Shortfall Amount for such Class on such Distribution Date, after giving effect to distributions of interest pursuant to Section 4.01(a); (iii) to the LIBOR Certificates, any applicable Net WAC Carryover Amounts in the same order and priority as described in Section 3.26, after giving effect to any withdrawals from the Net WAC Reserve Fund or from amounts available to be paid in respect of Basis Risk Shortfalls pursuant to Section 3.26; (iv) to the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, after giving effect to amounts available pursuant to Section 4.01(a)(3)(a)(i4.01(a)(3)(i) on the Distribution Date, payable to such Certificates as part of the Principal Distribution Amount and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Certificate Principal Balance of such Certificates until the aggregate Certificate Principal Balance of such Classes of Certificates is reduced to zero; provided, however, that distributions pursuant to this Section 4.10(a)(iv) shall not exceed cumulative Realized Losses since the Cut-off Date; (v) to the Class M1[___], Class M2[___], Class M3[___], Class M4[___], Class M5[___], Class M6[___], Class M7[___], Class M8[___], Class M9[___], Class M10 [___], Class [___] and Class M11 [___] Certificates, in that order, up to the Allocated Realized Loss Amount for that Class, after giving effect to distributions of such amounts pursuant to Section 4.01(a)(3) on the Distribution Date; and (vi) to the Class X Certificates, any remaining amounts.