Distribution of Net Swap Payments Sample Clauses

Distribution of Net Swap Payments. On each Distribution Date, the Securities Administrator, based solely on the information provided by the Swap Provider, shall distribute any Net Swap Payment paid to the Supplemental Interest Trust for such date, in the following order of priority: (i) To the Swap Provider, any Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreement for such Distribution Date; (ii) To the Swap Provider, any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (iii) to the Holders of the Offered Certificates and the Class M-10 and Class M-11 Certificates then entitled to distributions in respect to principal, in an amount equal to the principal portion of any Realized Losses experienced on the Mortgage Loans during the preceding month, payable to such Holders as part of the applicable Principal Distribution Amount, to the extent remaining after payments of the Net Monthly Excess Cashflow Amount; (iv) to the Holders of the Class or Classes of Certificates then entitled to receive distributions in respect of principal, in an amount equal to any Overcollateralization Increase Amount, payable to such Holders as part of the Group 1 Principal Distribution Amount and the Group 2 Principal Distribution Amount, as applicable, and applied in the same order of priority as payments of principal would otherwise be applied on such Distribution Date to reduce the Class Principal Amount of such Certificates until the aggregate Class Principal Amount of such Classes of Certificates is reduced to zero, to the extent not previously paid; (v) to the Holders of the Senior Certificates, the related Monthly Interest Distributable Amount and Unpaid Interest Shortfall Amount remaining undistributed after the distribution of the Interest Remittance Amount; (vi) sixth, sequentially, to the to the Holders of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10 and Class M-11 Certificates, in that order, the related Monthly Interest Distributable Amount and Unpaid Interest Shortfall Amount allocable to such Class of Certificates, to the extent remaining undistributed after the distributions of the Interest Remittance Amount and the Net Monthly Excess Cashflow; (vii) concurrently, to the Holders of each Class of Senior Certificates, pro rata, in an amount equal to such Class’ previously allocated and not reimbursed share of any Net Prepayment Inter...

Distribution of Net Swap Payments. On each Distribution Date, the Securities Administrator, based solely on the information provided by the Swap Provider, shall distribute any amounts on deposit in the Swap Account in the following order of priority prior to giving effect to distributions pursuant to Section 5.02 on such Distribution Date: (i) to the Class A-1-B Certificates, an amount equal to any Basis Risk Shortfall Carryover Amounts for such class and Distribution Date; (ii) to the Class A-2-B Certificates, an amount equal to any Basis Risk Shortfall Carryover Amounts for such class and Distribution Date; and (iii) to the Class A-3-B Certificates, an amount equal to any Basis Risk Shortfall Carryover Amounts for such class and Distribution Date; and (iv) to be included in Net Monthly Excess Cashflow for such Distribution Date and distributed in accordance with the priorities set forth in Section 5.02(c).