Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Corridor Contract will be withdrawn therefrom and distributed to the Covered Certificates, to the extent needed to pay any Yield Supplement Amount for such Distribution Date.
(b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter (Senior).
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the latest Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund in respect of a Corridor Contract will be withdrawn therefrom and distributed to the related Class of Covered Certificates, to the extent needed to pay any Yield Supplement Amount on that Class of Covered Certificates for such Distribution Date. Any amounts not required to pay such Yield Supplement Amount will remain on deposit in the Corridor Contract Reserve Fund until withdrawn.
(b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date will be distributed to the Underwriter (Senior).
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) each Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balances of the Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-5 and Class 5-A-1 Certificates, as applicable, is are reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-1 Corridor Contract will be withdrawn therefrom and distributed to the Class 1-A-1 Certificates, amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-2 and Class 1-A-3 Corridor Contract will be withdrawn therefrom and distributed to the Class 1-A-2 and Class 1-A-3 Certificates, amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-5 Corridor Contract will be withdrawn therefrom and distributed to the Class 1-A-5 Certificates and amounts on deposit in the Corridor Contract Reserve Fund from the Class 5-A-1 Corridor Contract will be withdrawn therefrom and distributed to the Class 5-A-1 Certificates, to the extent needed to pay any related Yield Supplement Amount of the Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-5 and Class 5-A-1 Certificates, as applicable, for such Distribution Date. Any remaining amounts in excess of $1,000 will be distributed to Countrywide Securities Corporation and will not be available to pay any future Yield Supplement Amounts.
(b) Any amounts remaining in the Corridor Contract Reserve Fund, after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Class 1-A-1, Class 1-A-2, Class 1-A-3, Class 1-A-5 and Class 5-A-1 Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter.
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) each Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balances of the Class 1-A-1, and Class 1-A-4 Certificates, as applicable, is are reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-1 Corridor Contract will be withdrawn therefrom and distributed to the Class 1-A-1 Certificates and amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-4 Corridor Contract will be withdrawn therefrom and distributed to the Class 1-A-4 Certificates, to the extent needed to pay any related Yield Supplement Amount of the Class 1-A-1 and Class 1-A-4 Certificates, as applicable, for such Distribution Date. Any remaining amounts in excess of $1,000 will be distributed to Countrywide Securities Corporation and will not be available to pay any future Yield Supplement Amounts.
(b) Any amounts remaining in the Corridor Contract Reserve Fund, after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Class 1-A-1 and Class 1-A-4 Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to the Underwriter.
Distributions from the Corridor Contract Reserve Fund. On each Distribution Date on or prior to the earlier of (i) the related Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the related Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Group I Corridor Contract will be withdrawn therefrom and, following all other distributions on such Distribution Date, distributed to the Group I Certificates and amounts on deposit in the Corridor Contract Reserve Fund from the Group II Corridor Contract will be withdrawn therefrom and distributed to the Group II Certificates, to the extent needed to pay any Unpaid Realized Loss Amount or Net Rate Carryover on the related Classes of Certificates for such Distribution Date after all other distributions on such Distribution Date, as follows:
(a) from amounts received under the Group I Corridor Contract, sequentially as follows:
(1) concurrently, pro rata based on the aggregate Unpaid Realized Loss Amount for the senior certificates (other than the Class X Certificates) related to Loan Group 1 and Loan Group 2:
(a) in an amount equal to the aggregate Unpaid Realized Loss Amount for the Senior Certificates related to Loan Group 1, sequentially, to the Class 1-A-1, Class 1-A-2 and Class 1 A-3 Certificates, in that order, in an amount up to the Unpaid Realized Loss Amount for each such Class, and
(b) in an amount equal to the aggregate Unpaid Realized Loss Amount for the Senior Certificates related to Loan Group 2, sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in an amount up to the Unpaid Realized Loss Amount for each such Class;
(2) sequentially, to the Class I-M-1, Class I-M-2, Class I-M-3, Class I-M-4, Class I-M-5, Class I-M-6 and Class I-M-7 Certificates, in that order, in an amount equal to the amount of any remaining Unpaid Realized Loss Amount for each such Class;
(3) concurrently, to the Classes of Group I Senior Certificates, pro rata, in an amount equal to the amount of any remaining Net Rate Carryover for each such Class;
(4) sequentially, to the Class I-M-1, Class I-M-2, Class I-M-3, Class I-M-4, Class I-M-5, Class I-M-6 and Class I-M-7 Certificates, in that order, in an amount equal to the amount of any remaining Net Rate Carryover for each such Class; and
(5) to the Class I-C Certificates, any remaining amount.
(b) from amounts received under the Group II Corridor Contract, sequentially as follows:
(1...
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) each Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balances of the Class 1-A-1, Class 1-A-3 and Class 1-A-5 Certificates, as applicable, are reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-1 and Class 1-A-5 Corridor Contracts will be withdrawn therefrom and distributed to the Class 1-A-1 and Class 1-A-5 Certificates and amounts on deposit in the Corridor Contract Reserve Fund from the Class 1-A-3 Corridor Contract will be withdrawn therefrom and distributed to the Class 1-A-3 Certificates to the extent needed to pay any related Yield Supplement Amount of the Class 1-A-1, Class 1-A-3 and Class 1-A-5 Certificates, as applicable, for such Distribution Date.
(b) Any amounts remaining in the Corridor Contract Reserve Fund, after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Class 1-A-1, Class 1-A-3 and Class 1-A-5 Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to Countrywide Securities Corporation.
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the related Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Class 2-A-1, Class 3-A-2, Class 3-A-1 and Class 3-A-11 Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund will be withdrawn therefrom and distributed to the Class 2-A-1, Class 3-A-2, Class 3-A-1 and Class 3-A-11 Certificates to the extent needed to pay the related Yield Supplement Amount for such Distribution Date as follows:
(i) from amounts received on the Class 2-A-1 Corridor Contract, to the Class 2-A-1 Certificates, in an amount up to the Class 2-A-1 Yield Supplement Amount for that Distribution Date;
(ii) from amounts received on the Class 3-A-2 Corridor Contract, to the Class 3-A-2 Certificates, in an amount up to the Class 3-A-2 Yield Supplement Amount for that Distribution Date;
(iii) from amounts received on the Class 3-A-1 and Class 3-A-11 Corridor Contract, concurrently, to the Class 3-A-1 and Class 3-A-11 Certificates, pro rata, based upon their respective Class Certificate Balances, in an amount up to the Class 3-A-1 and Class 3-A-11 Yield Supplement Amount for that Distribution Date; and
(iv) the remaining amounts, if any, shall be distributed to Deutsche Bank Securities Inc.
(b) Any amounts remaining in the Corridor Contract Reserve Fund in respect of the related Corridor Contract after the earlier of (i) the related Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Class 2-A-1, Class 3-A-2, Class 3-A-1 and Class 3-A-11 Certificates has been reduced to zero, will be distributed to Deutsche Bank Securities Inc. 105
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the related Corridor Contract Scheduled Termination Date and (ii) the date on which the Class Certificate Balance of the related Class of Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund from each Corridor Contract will be withdrawn therefrom and distributed to the related Class of Covered Certificates, to the extent needed to pay any related Yield Supplement Amount of the related Class of Covered Certificates, as applicable, for such Distribution Date.
(b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) the latest Corridor Contract Scheduled Termination Date, will be distributed to Deutsche Bank Securities Inc.
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) the latest Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund in respect of a Corridor Contract will be withdrawn therefrom and distributed to the applicable Class or Classes of Covered Certificates, to the extent needed to pay the related Yield Supplement Amount for such Class of Certificates for such Distribution Date. Any remaining amounts shall be distributed to Citigroup Global Markets Inc.
(b) Any amounts remaining in the Corridor Contract Reserve Fund in respect of the Corridor Contracts after the earlier of (i) the latest Corridor Contract Scheduled Termination Date and (ii) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero, will be distributed to Citigroup Global Markets Inc.
Distributions from the Corridor Contract Reserve Fund. (a) On each Distribution Date on or prior to the earlier of (i) termination of this Agreement and (ii) the date on which the aggregate Class Certificate Balance of the Covered Certificates is reduced to zero, amounts on deposit in the Corridor Contract Reserve Fund in respect of a Corridor Contract will be withdrawn therefrom and distributed to the applicable Class of Covered Certificates, to the extent needed to pay any related Yield Supplement Amount for such Distribution Date and any related Yield Supplement Amount remaining unpid from prior Distribution dates. Amounts received on the Class A-3 Corridor Contract on any Distribution Date in excess of the amount necessary to pay the related current Yield Supplement Amount and any related Yield Supplement Amount remaining unpaid from prior Distribution Dates will remain on deposit in the Corridor Contract Reserve Fund and may be used to pay such Yield Supplement Amounts on future Distribution Dates. Amounts received on the Class A-6 Corridor Contract on any Distribution Date in excess of the amount necessary to pay the related current Yield Supplement Amount and any related Yield Supplement Amount remaining unpaid from prior Distribution Dates will be remitted to the Underwriter (Senior) and will not be available on future Distribution Dates to make distributions on the Class A-6 Certificates.
(b) Any amounts remaining in the Corridor Contract Reserve Fund after the earlier of (i) the date on which the aggregate Class Certificate Balance of the Covered Certificates has been reduced to zero and (ii) termination of this Agreement, will be distributed to the Underwriter (Senior).
