Common use of Distributions from the Supplemental Interest Trust Clause in Contracts

Distributions from the Supplemental Interest Trust. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the amounts equal to the Net Swap Payment and the Swap Termination Payment payable by the Supplemental Interest Trust Trustee that are required to be deposited in the Supplemental Interest Trust pursuant to this Section 4.05 with respect to such Distribution Date and shall distribute such amounts to the Swap Counterparty on such Distribution Date. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the Net Counterparty Payment and the Swap Termination Payment payable by the Swap Counterparty and received by the Supplemental Interest Trust Trustee from the Swap Counterparty and deposited in the Supplemental Interest Account and shall distribute such amounts as follows (provided the Swap Termination Payment shall be distributed as provided in Section 3.27(c)): (i) first, for payment to the Swap Counterparty, any unpaid Swap Termination Payment payable by the Supplemental Interest Trust Trustee, including any amount remaining unpaid from prior Distribution Dates (unless the Swap Counterparty is the Defaulting Party or the sole Affected Party (each, as defined in the Swap Agreement)); and (ii) second, (A) if the NIM Notes are outstanding, for payment in the amounts and in accordance with priorities in clauses (i) through (xxv) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided the amount distributable to the Class C Certificates pursuant to paragraph (j)(xxv) of the definition of REMIC III Distribution Amount shall be equal to the lesser of (I) the amount remaining after distribution of the amount in the Supplemental Interest Account pursuant to clauses (i) through (xxiv) of paragraph (j) of such definition on such Distribution Date and (II) the Class C NIM Payment Amount for such Distribution Date; or (B) if the NIM Notes are not outstanding, for payment in the amounts and in accordance with priorities clauses (i) through (xxiv) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided, however, that the amount that shall be distributed pursuant to Section 4.05(f)(ii) priority (i) cannot exceed the aggregate Realized Losses reduced by the aggregate of amounts previously distributed pursuant to this Section 4.05(f)(ii) priority (i). Any amounts in the Supplemental Interest Account received from the Swap Counterparty and not distributed on a Distribution Date after payments pursuant to Section 4.05(f)(ii)(B) will remain in the Supplemental Interest Account and be distributed pursuant to Section 4.05(f)(ii)(B) on the next Distribution Date. On the Distribution Date on which the Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class B Certificates has been reduced to zero, after making all other distributions on such Distribution Date (including to the Class A Certificates, the Mezzanine Certificates and the Class B Certificates out of the Supplemental Interest Account), the Supplemental Interest Trust Trustee shall distribute all remaining amounts in the Supplemental Interest Account to itself.

Distributions from the Supplemental Interest Trust. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the amounts equal to the Net Swap Payment and the Swap Termination Payment payable by the Supplemental Interest Trust Trustee that are required to be deposited in the Supplemental Interest Trust pursuant to this Section 4.05 with respect to such Distribution Date and shall distribute such amounts to the Swap Counterparty on such Distribution Date. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the Net Counterparty Payment and the Swap Termination Payment payable by the Swap Counterparty and received by the Supplemental Interest Trust Trustee from the Swap Counterparty and deposited in the Supplemental Interest Account and shall distribute such amounts as follows (provided the Swap Termination Payment shall be distributed as provided in Section 3.27(c)): (i) first, for payment to the Swap Counterparty, any unpaid Swap Termination Payment payable by the Supplemental Interest Trust TrusteeTrust, including any amount remaining unpaid from prior Distribution Dates (unless the Swap Counterparty is the Defaulting Party or the sole Affected Party (each, as defined in the Swap Agreement)); and (ii) second, (A) if the NIM Notes are outstanding, for payment in the amounts and in accordance with priorities in clauses (i) through (xxv) of paragraph (je) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided the amount distributable to the Class C Certificates pursuant to paragraph (j)(xxve)(xxv) of the definition of REMIC III Distribution Amount shall be equal to the lesser of (I) the amount remaining after distribution of the amount in the Supplemental Interest Account pursuant to clauses (i) through (xxiv) of paragraph (je) of such definition on such Distribution Date and (II) the Class C NIM Payment Amount for such Distribution Date; or (B) if the NIM Notes are not outstanding, for payment in the amounts and in accordance with priorities clauses (i) through (xxiv) of paragraph (je) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided, however, that the amount that shall be distributed pursuant to Section 4.05(f)(ii) priority (i) cannot exceed the aggregate Realized Losses reduced by the aggregate of amounts previously distributed pursuant to this Section 4.05(f)(ii) priority (i). Any amounts in the Supplemental Interest Account received from the Swap Counterparty and not distributed on a Distribution Date after payments pursuant to Section 4.05(f)(ii)(B) will remain in the Supplemental Interest Account and be distributed pursuant to Section 4.05(f)(ii)(B) on the next Distribution Date. On the Distribution Date on which the Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class B Certificates has been reduced to zero, after making all other distributions on such Distribution Date (including to the Class A Certificates, the Mezzanine Certificates and the Class B Certificates out of the Supplemental Interest Account), the Supplemental Interest Trust Trustee shall distribute all remaining amounts in the Supplemental Interest Account to itself.

Distributions from the Supplemental Interest Trust. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the amounts equal to the Net Swap Payment and the Swap Termination Payment payable by the Supplemental Interest Trust Trustee that are required to be deposited in the Supplemental Interest Trust pursuant to this Section 4.05 with respect to such Distribution Date and the amounts deposited in the Supplemental Interest Account pursuant to the last sentence of Section 4.09(c) and shall distribute such amounts to the Swap Counterparty on such Distribution Date. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the Net Counterparty Payment and the Swap Termination Payment payable by the Swap Counterparty and received by the Supplemental Interest Trust Trustee from the Swap Counterparty and deposited in the Supplemental Interest Account and the amounts deposited in the Supplemental Interest Account pursuant to the last sentence of Section 4.09(c) and shall distribute such amounts as follows (provided the Swap Termination Payment shall be distributed as provided in Section 3.27(c)): (i) first, for payment to the Swap Counterparty, any unpaid Swap Termination Payment payable by the Supplemental Interest Trust Trustee, including any amount remaining unpaid from prior Distribution Dates (unless the Swap Counterparty is the Defaulting Party or the sole Affected Party (each, as defined in the Swap Agreement)); and (ii) second, (A) if the NIM Notes are outstanding, for payment in the amounts and in accordance with priorities in clauses (i) through (xxvxxi) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided the amount distributable to the Class C Certificates pursuant to paragraph (j)(xxvj)(xxi) of the definition of REMIC III Distribution Amount shall be equal to the lesser of (I) the amount remaining after distribution of the amount in the Supplemental Interest Account pursuant to clauses (i) through (xxivxx) of paragraph (j) of such definition on such Distribution Date and (II) the Class C NIM Payment Amount for such Distribution Date; or (B) if the NIM Notes are not outstanding, for payment in the amounts and in accordance with priorities clauses (i) through (xxivxx) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided, however, that the amount that shall be distributed pursuant to Section 4.05(f)(ii) priority (i) cannot exceed the aggregate Realized Losses reduced by the aggregate of amounts previously distributed pursuant to this Section 4.05(f)(ii) priority (i). Any amounts in the Supplemental Interest Account received from the Swap Counterparty or deposited therein pursuant to the last sentence of Section 4.09(c) and not distributed on a Distribution Date after payments pursuant to Section 4.05(f)(ii)(B) will remain in the Supplemental Interest Account and be distributed pursuant to Section 4.05(f)(ii)(B) on the next Distribution Date. On the Distribution Date on which the Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class B Mezzanine Certificates has been reduced to zero, after making all other distributions on such Distribution Date (including to the Class A Certificates, the Mezzanine Certificates and the Class B Mezzanine Certificates out of the Supplemental Interest Account), the Supplemental Interest Trust Trustee shall distribute all remaining amounts in the Supplemental Interest Account to itself.

Distributions from the Supplemental Interest Trust. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the amounts equal to the Net Swap Payment and the Swap Termination Payment payable by the Supplemental Interest Trust Trustee that are required to be deposited in the Supplemental Interest Trust pursuant to this Section 4.05 with respect to such Distribution Date and shall distribute such amounts to the Swap Counterparty on such Distribution Date. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the Net Counterparty Payment and the Swap Termination Payment payable by the Swap Counterparty and received by the Supplemental Interest Trust Trustee from the Swap Counterparty and deposited in the Supplemental Interest Account and shall distribute such amounts as follows (provided the Swap Termination Payment shall be distributed as provided in Section 3.27(c)): (i) first, for payment to the Swap Counterparty, any unpaid Swap Termination Payment payable by the Supplemental Interest Trust Trustee, including any amount remaining unpaid from prior Distribution Dates (unless the Swap Counterparty is the Defaulting Party or the sole Affected Party (each, as defined in the Swap Agreement)); and (ii) second, (A) if the NIM Notes are outstanding, for payment in the amounts and in accordance with priorities in clauses (i) through (xxvxxiii) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided the amount distributable to the Class C Certificates pursuant to paragraph (j)(xxvj)(xxiii) of the definition of REMIC III Distribution Amount shall be equal to the lesser of (I) the amount remaining after distribution of the amount in the Supplemental Interest Account pursuant to clauses (i) through (xxivxxii) of paragraph (j) of such definition on such Distribution Date and (II) the Class C NIM Payment Amount for such Distribution Date; or (B) if the NIM Notes are not outstanding, for payment in the amounts and in accordance with priorities clauses (i) through (xxivxxii) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided, however, that the amount that shall be distributed pursuant to Section 4.05(f)(ii) priority (i) cannot exceed the aggregate Realized Losses reduced by the aggregate of amounts previously distributed pursuant to this Section 4.05(f)(ii) priority (i). Any amounts in the Supplemental Interest Account received from the Swap Counterparty and not distributed on a Distribution Date after payments pursuant to Section 4.05(f)(ii)(B) will remain in the Supplemental Interest Account and be distributed pursuant to Section 4.05(f)(ii)(B) on the next Distribution Date. On the Distribution Date on which the Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class B Certificates has been reduced to zero, after making all other distributions on such Distribution Date (including to the Class A Certificates, the Mezzanine Certificates and the Class B Certificates out of the Supplemental Interest Account), the Supplemental Interest Trust Trustee shall distribute all remaining amounts in the Supplemental Interest Account to itself.

Distributions from the Supplemental Interest Trust. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the amounts equal to the Net Swap Payment and the Swap Termination Payment payable by the Supplemental Interest Trust Trustee that are required to be deposited in the Supplemental Interest Trust pursuant to this Section 4.05 with respect to such Distribution Date and shall distribute such amounts to the Swap Counterparty on such Distribution Date. On each Distribution Date, the Supplemental Interest Trust Trustee shall withdraw from the Supplemental Interest Account the Net Counterparty Payment and the Swap Termination Payment payable by the Swap Counterparty and received by the Supplemental Interest Trust Trustee from the Swap Counterparty and deposited in the Supplemental Interest Account and shall distribute such amounts as follows (provided the Swap Termination Payment shall be distributed as provided in Section 3.27(c)): (i) first, for payment to the Swap Counterparty, any unpaid Swap Termination Payment payable by the Supplemental Interest Trust TrusteeTrust, including any amount remaining unpaid from prior Distribution Dates (unless the Swap Counterparty is the Defaulting Party or the sole Affected Party (each, as defined in the Swap Agreement)); and (ii) second, (A) if the NIM Notes are outstanding, for payment in the amounts and in accordance with priorities in clauses (i) through (xxv) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided the amount distributable to the Class C Certificates pursuant to paragraph (j)(xxv) of the definition of REMIC III Distribution Amount shall be equal to the lesser of (I) the amount remaining after distribution of the amount in the Supplemental Interest Account pursuant to clauses (i) through (xxiv) of paragraph (j) of such definition on such Distribution Date and (II) the Class C NIM Payment Amount for such Distribution Date; or (B) if the NIM Notes are not outstanding, for payment in the amounts and in accordance with priorities clauses (i) through (xxiv) of paragraph (j) of the definition of REMIC III Distribution Amount to the extent not paid pursuant to paragraphs (a) through (e) of this Section 4.05 on such Distribution Date; provided, however, that the amount that shall be distributed pursuant to Section 4.05(f)(ii) priority (i) cannot exceed the aggregate Realized Losses reduced by the aggregate of amounts previously distributed pursuant to this Section 4.05(f)(ii) priority (i). Any amounts in the Supplemental Interest Account received from the Swap Counterparty and not distributed on a Distribution Date after payments pursuant to Section 4.05(f)(ii)(B) will remain in the Supplemental Interest Account and be distributed pursuant to Section 4.05(f)(ii)(B) on the next Distribution Date. On the Distribution Date on which the Certificate Principal Balance of the Class A Certificates, the Mezzanine Certificates and the Class B Mezzanine Certificates has been reduced to zero, after making all other distributions on such Distribution Date (including to the Class A Certificates, the Mezzanine Certificates and the Class B Mezzanine Certificates out of the Supplemental Interest Account), the Supplemental Interest Trust Trustee shall distribute all remaining amounts in the Supplemental Interest Account to itself.