Common use of Distributions of Excess Cashflow Clause in Contracts

Distributions of Excess Cashflow. With respect to any Distribution Date, any Excess Cashflow will be paid to the Classes of Certificates in the following order of priority, in each case to the extent of remaining Excess Cashflow: (i) for each Distribution Date occurring (a) before the Stepdown Date or (b) on or after the Stepdown Date but for which a Trigger Event is in effect, in the following priority: (1) after giving effect to principal distributions on that Distribution Date (as described under Section 4.02(b)), pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until their respective Class Certificate Balances have been reduced to zero; and (2) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, until their respective Class Certificate Balances have been reduced to zero; (ii) for each Distribution Date occurring on or after the Stepdown Date and for which a Trigger Event is not in effect, in the following priority: (1) after giving effect to principal distributions on that Distribution Date (as described under Section 4.02(b)), pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; (2) to the Class M-1 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-1 Target Amount for that Distribution Date; (3) to the Class M-2 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 and Class M-2 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-2 Target Amount for that Distribution Date; (4) to the Class M-3 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-3 Target Amount for that Distribution Date; (5) to the Class M-4 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-4 Target Amount for that Distribution Date; (6) to the Class M-5 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-5 Target Amount for that Distribution Date; (7) to the Class M-6 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-6 Target Amount for that Distribution Date; (8) to the Class M-7 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-7 Target Amount for that Distribution Date; (9) to the Class M-8 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-8 Target Amount for that Distribution Date; (10) to the Class M-9 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-9 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-9 Target Amount for that Distribution Date; and (11) to the Class M-10 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-10 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-10 Target Amount for that Distribution Date; (iii) first, concurrently to the Classes of Senior Certificates, pro rata based on their respective Unpaid Realized Loss Amounts, in an amount equal to the Unpaid Realized Loss Amount for each such Class; and second, sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in each case, first in an amount equal to any Net Rate Carryover and unpaid Net Rate Carryover Amounts for each such Class and that Distribution Date and second in an amount equal to any Unpaid Realized Loss Amount for that Class and that Distribution Date; and (iv) to the Class R Certificate, any remaining amount.

Distributions of Excess Cashflow. With respect to any Distribution Date, any Excess Cashflow will be paid to the Classes of Certificates in the following order of priority, in each case to the extent of remaining Excess Cashflow: (i) for each Distribution Date occurring (a) before the Stepdown Date or (b) on or after the Stepdown Date but for which a Trigger Event is in effect, then until the aggregate Class Certificate Balance of the Certificates equals the Target Amount for that Distribution Date, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under Section pursuant to clause 4.02(b)), concurrently, to the Classes of Senior Certificates, pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until their respective Class Certificate Balances have been reduced to zero; and (2B) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 M-3 xxx Xxxxx M-4 Certificates, in that order, until their respective Class Certificate Balances have been reduced to zero; (ii) for each Distribution Date occurring on or after the Stepdown Date and for which a Trigger Event is not in effect, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under pursuant to Section 4.02(b)), concurrently, to the Classes of Senior Certificates, pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; (2B) to the Class M-1 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-1 Target Amount for that Distribution Date; (3C) to the Class M-2 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 and Class M-2 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-2 Target Amount for that Distribution Date; (4D) to the Class M-3 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-3 Target Amount for that Distribution Date; (5E) to the Class M-4 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-4 Target Amount for that Distribution Date; (6) to the Class M-5 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-5 Target Amount for that Distribution Date; (7) to the Class M-6 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-6 Target Amount for that Distribution Date; (8) to the Class M-7 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-7 Target Amount for that Distribution Date; (9) to the Class M-8 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-8 Target Amount for that Distribution Date; (10) to the Class M-9 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-9 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-9 Target Amount for that Distribution Date; and (11) to the Class M-10 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-10 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-10 Target Amount for that Distribution Date; (iii) first, concurrently to the Classes of Senior Certificates, pro rata based on their respective Unpaid Realized Loss AmountsAmount, in an amount equal to the Senior Certificates, the Unpaid Realized Loss Amount Amounts for each such Class; and second, and (iv) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 M-3 and Class M-10 CertificatesXxxxx X-0 Xxrtificates, in that order, in each caseany Unpaid Realized Loss Amount on for that Class and that Distribution Date; (v) to the Carryover Reserve Fund, first in an the amount equal to of any Net Rate Carryover and then from the Carryover Reserve Fund, in the following priority: (A) concurrently to the Classes of the Senior Certificates, the amount of any Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts for each such Class and that Distribution Date Date, to be paid from amounts on deposit in the Carryover Reserve Fund, pro rata, in proportion to the amount of such shortfalls; (B) [Reserved]; (C) sequentially, to the Class M-1, Class M-2, Class M-3 xxx Xxxxx M-4 Certificates, in that order, any applicable Net Rate Carryover Amounts and second in an amount equal to any Unpaid Realized Loss unpaid Net Rate Carryover Amount for that each such Class and that Distribution Date; and (ivD) for addition to the amounts distributable pursuant to priority (vi) below, to the Class C Certificates, as provided in this Agreement, any amounts remaining in the Carryover Reserve Fund in excess of amounts required to be on deposit therein after satisfying priorities (v)(A) through (v)(C)] above for that Distribution Date; and (vi) to the Class R Certificate, any remaining amount.

Distributions of Excess Cashflow. With respect to any Distribution Date, any Excess Cashflow will be paid to the Classes of Certificates in the following order of priority, in each case to the extent of remaining Excess Cashflow: (i) for each Distribution Date occurring (a) before the Stepdown Date or (b) on or after the Stepdown Date but for which a Trigger Event is in effect, then until the aggregate Class Certificate Balance of the Senior and Subordinated Certificates equals the Target Amount for that Distribution Date, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under Section clause 4.02(b) above)), concurrently to the Classes of Senior Certificates related to each Loan Group, pro rata, based on the related Senior Proportionate Percentage, to the Senior Certificates, in each case allocated in accordance with Section 4.02(b)(i), 4.02(B)(i)(A) above in reduction of their respective Class Certificate Balances, until their respective Class Certificate Balances have been reduced to zero; and (2B) sequentially, to the Class M-1, Class M-2, Class M-3, Xxxxx X-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, until their respective Class Certificate Balance have been reduced to zero; (ii) for each Distribution Date occurring on or after the Stepdown Date and for which a Trigger Event is not in effect, in the following priority: (A) after giving effect to principal distributions on that Distribution Date (as described under Section 4.02(b) above), to the Classes of Senior Certificates related to each Loan Group, pro rata, based on the related Senior Proportionate Percentage, in each case in accordance with Section 4.02(b)(i)(A) above, in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; and sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, the Subordinated Class Principal Distribution Target Amount for each such Class, until their respective Class Certificate Balances are reduced to zero; and; (iii) concurrently to the Classes of Senior Certificates, pro rata in proportion to their respective Unpaid Realized Loss Amount, the Unpaid Realized Loss Amounts for each such Class; and (iv) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, until their respective any Unpaid Realized Loss Amounts for that Class Certificate Balances have been reduced to zeroand that Distribution Date; (iiv) for each Distribution Date occurring on or after to the Stepdown Date Carryover Reserve Fund, the aggregate amount of any Net Rate Carryover and for which a Trigger Event is not in effectthen from the Carryover Reserve Fund, in the following priority: (1A) after giving effect concurrently to principal distributions on the Classes of the Senior Certificates pro rata, the amount of any Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts for each such Class and that Distribution Date (as described under Section 4.02(breduced by amounts received from the Corridor Contract with respect to the Class 1-A2AU Certificates and, indirectly, the Class 1-A2A Certificates)), to be paid from amounts on deposit in the Carryover Reserve Fund, pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; (2B) to the Class M-1 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-1 Target Amount for that Distribution Date[Reserved]; (3C) to the Class M-2 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 and Class M-2 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-2 Target Amount for that Distribution Date; (4) to the Class M-3 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-3 Target Amount for that Distribution Date; (5) to the Class M-4 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-4 Target Amount for that Distribution Date; (6) to the Class M-5 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-5 Target Amount for that Distribution Date; (7) to the Class M-6 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-6 Target Amount for that Distribution Date; (8) to the Class M-7 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-7 Target Amount for that Distribution Date; (9) to the Class M-8 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-8 Target Amount for that Distribution Date; (10) to the Class M-9 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-9 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-9 Target Amount for that Distribution Date; and (11) to the Class M-10 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-10 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-10 Target Amount for that Distribution Date; (iii) first, concurrently to the Classes of Senior Certificates, pro rata based on their respective Unpaid Realized Loss Amounts, in an amount equal to the Unpaid Realized Loss Amount for each such Class; and second, sequentially, to the Class M-1, Class M-2, Class M-3, Xxxxx X-4, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in each case, first in an amount equal to any applicable Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts Amount for each such Class and that Distribution Date and second in an amount equal to any Unpaid Realized Loss Amount for that Class and that Distribution Date; and (ivD) to the Class C Certificates, as provided in this Agreement, any amounts remaining in the Carryover Reserve Fund in excess of amounts required to be on deposit therein after satisfying priorities (v)(A) through (iv)(C) above for that Distribution Date; and (vi) to the Class R Certificate, any remaining amount.

Distributions of Excess Cashflow. With respect to any Distribution Date, any Excess Cashflow will be paid to the Classes of Certificates in the following order of priority, in each case to the extent of remaining Excess Cashflow: (i) for each Distribution Date occurring (a) before the Stepdown Date or (b) on or after the Stepdown Date but for which a Trigger Event is in effect, then until the aggregate Class Certificate Balance of the certificates equals the Target Amount for that Distribution Date, in the following priority: (1) after giving effect to principal distributions on that Distribution Date (as described under Section clause 4.02(b)) above), pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i)) above, in reduction of their respective Class Certificate Balances, until their respective Class Certificate Balances have been reduced to zero; and (2) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, M-8 and Class M-9 and Class M-10 Certificates, in that order, until their respective Class Certificate Balances Balance have been reduced to zero; (ii) for each Distribution Date occurring on or after the Stepdown Date and for which a Trigger Event is not in effect, in the following priority: (1) after giving effect to principal distributions on that Distribution Date (as described under Section 4.02(b)) above), pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i)) above, in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; (2) to the Class M-1 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-1 Target Amount for that Distribution Date; (3) to the Class M-2 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 and Class M-2 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-2 Target Amount for that Distribution Date; (4) to the Class M-3 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-3 Target Amount for that Distribution Date; (5) to the Class M-4 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-4 Target Amount for that Distribution Date; (6) to the Class M-5 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-5 Target Amount for that Distribution Date; (7) to the Class M-6 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-6 Target Amount for that Distribution Date; (8) to the Class M-7 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-7 Target Amount for that Distribution Date; (9) to the Class M-8 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-8 Target Amount for that Distribution Date; (10) to the Class M-9 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-9 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-9 Target Amount for that Distribution Date; and (11) to the Class M-10 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-10 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-10 Target Amount for that Distribution Date; (iii) first, concurrently to the Classes of Senior Certificates, pro rata based on their respective Unpaid Realized Loss Amounts, in an amount equal to the Unpaid Realized Loss Amount for each such Class; and second, sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in that order, in each case, first in an amount equal to any Net Rate Carryover and unpaid Net Rate Carryover Amounts for each such Class and that Distribution Date and second in an amount equal to any Unpaid Realized Loss Amount for that Class and that Distribution Date; and (iv) to the Class R Certificate, any remaining amount.

Distributions of Excess Cashflow. With respect to any Distribution Date, any Excess Cashflow will be paid to the Classes of Certificates in the following order of priority, in each case to the extent of remaining Excess Cashflow: (i) for each Distribution Date occurring (a) before the Stepdown Date or (b) on or after the Stepdown Date but for which a Trigger Event is in effect, then until the aggregate Class Certificate Balance of the certificates equals the Target Amount for that Distribution Date, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under Section clause 4.02(b) above)), concurrently to the Classes of Senior Certificates, pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until their respective Class Certificate Balances have been reduced to zero; and (2B) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0M-4, Xxxss Class M-5, Class M-6M-0, Class M-7, Class M-8, Class M-9 Xxxxx X-0 and Class M-10 M-8 Certificates, in that order, until their respective Class Certificate Balances Balance have been reduced to zero; (ii) for each Distribution Date occurring on or after the Stepdown Date and for which a Trigger Event is not in effect, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under Section 4.02(b)) above), pro rata, based on the Senior Proportionate Percentage, concurrently to the Classes of Senior Certificates, in each case in accordance with Section 4.02(b)(i)) above, in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; (2B) to the Class M-1 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-1 Target Amount for that Distribution Date; (3C) to the Class M-2 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 and Class M-2 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-2 Target Amount for that Distribution Date; (4D) to the Class M-3 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-3 Target Amount for that Distribution Date; (5E) to the Class M-4 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-4 Target Amount for that Distribution Date; (6F) to the Class M-5 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-5 Target Amount for that Distribution Date; (7G) to the Class M-6 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-6 Target Amount for that Distribution Date; (8) H) to the Class M-7 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-7 Target Amount for that Distribution Date;; and (9I) to the Class M-8 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-8 Target Amount for that Distribution Date;. (10iii) concurrently to the Class M-9 Classes of Senior Certificates, pro rata in reduction of proportion to their Class Certificate Balancesrespective Unpaid Realized Loss Amount, until the aggregate Class Certificate Balance of to the Senior Certificates and Certificates, the Unpaid Realized Loss Amounts for each such Class; and (iv) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class Cxxxx X-0 xxx Xlass M-8 and Class M-9 Certificates, after giving effect to distributions made in that order, any Unpaid Realized Loss Amount on for that Class and that Distribution Date, equals the Class M-9 Target Amount for that Distribution Date; and; (11v) to the Class M-10 CertificatesCarryover Reserve Fund, the amount of any Net Rate Carryover and then from the Carryover Reserve Fund, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance following priority: (A) concurrently to the Classes of the Senior Certificates Certificates, the amount of any Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts for each such Class and that Distribution Date (as reduced by amounts received from the Corridor Contract with respect to the Class A1-A Certificates), to be paid from amounts on deposit in the Carryover Reserve Fund, in proportion to the amount of such shortfalls; (B) [Reserved]; (C) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6M-0, Class M-7, Class M-8, Class M-9 Xxxxx X-0 and Class M-10 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-10 Target Amount for that Distribution Date; (iii) first, concurrently to the Classes of Senior Certificates, pro rata based on their respective Unpaid Realized Loss Amounts, in an amount equal to the Unpaid Realized Loss Amount for each such Class; and second, sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxss M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 M-8 Certificates, in that order, in each case, first in an amount equal to any applicable Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts Amount for each such Class and that Distribution Date and second in an amount equal to any Unpaid Realized Loss Amount for that Class and that Distribution Date; and (ivD) for addition to the amounts distributable pursuant to priority (v) below, to the Class C Certificates, as provided in this Agreement, any amounts remaining in the Carryover Reserve Fund in excess of amounts required to be on deposit therein after satisfying priorities (iv)(1) through (iv)(3) above for that Distribution Date; (vi) to the Swap Trust, for distribution pursuant to priority (ix) under Section 4.02(d) below; and (vii) to the Class R Certificate, any remaining amount.

Distributions of Excess Cashflow. With respect to any Distribution Date, any Excess Cashflow will be paid to the Classes of Certificates in the following order of priority, in each case to the extent of remaining Excess Cashflow: (i) for each Distribution Date occurring (a) before the Stepdown Date or (b) on or after the Stepdown Date but for which a Trigger Event is in effect, then until the aggregate Class Certificate Balance of the Senior and Subordinated Certificates equals the Target Amount for that Distribution Date, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under Section clause 4.02(b) above)), concurrently to the Classes of Senior Certificates, pro rata, based on the Senior Proportionate Percentage, to the Senior Certificates, in each case in accordance with Section 4.02(b)(i), in reduction of their respective Class Certificate Balances, until their respective Class Certificate Balances have been reduced to zero; and (2B) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0M-4, Xxxss Class M-5, Class M-6X-0, Xxxxx X-7, Class M-7, Class M-8, M-8 and Class M-9 and Class M-10 Certificates, in that order, until their respective Class Certificate Balances Balance have been reduced to zero; (ii) for each Distribution Date occurring on or after the Stepdown Date and for which a Trigger Event is not in effect, in the following priority: (1A) after giving effect to principal distributions on that Distribution Date (as described under Section 4.02(b) above)), pro rata, based on the Senior Proportionate Percentage, to the Classes of Senior Certificates, in each case in accordance with Section 4.02(b)(i)) above, in reduction of their respective Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates, after giving effect to distributions on that Distribution Date, equals the Senior Target Amount for that Distribution Date; (2B) to the Class M-1 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-1 Target Amount for that Distribution Date; (3C) to the Class M-2 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1 and Class M-2 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-2 Target Amount for that Distribution Date; (4D) to the Class M-3 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2 and Class M-3 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-3 Target Amount for that Distribution Date; (5E) to the Class M-4 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3 and Class M-4 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-4 Target Amount for that Distribution Date; (6F) to the Class M-5 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4 and Class M-5 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-5 Target Amount for that Distribution Date; (7G) to the Class M-6 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 and Class M-6 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-6 Target Amount for that Distribution Date; (8) H) to the Class M-7 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-7 Target Amount for that Distribution Date; (9I) to the Class M-8 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-8 Target Amount for that Distribution Date;; and (10J) to the Class M-9 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and 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 and Class M-9 Certificates, after giving effect to distributions made on that Distribution Date, equals the Class M-9 Target Amount for that Distribution Date. (iii) concurrently to the Classes of Senior Certificates, pro rata in proportion to their respective Unpaid Realized Loss Amount, the Unpaid Realized Loss Amounts for each such Class; and (11iv) sequentially, to the Class M-10 Certificates, in reduction of their Class Certificate Balances, until the aggregate Class Certificate Balance of the Senior Certificates and the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7Xxxxx X-0, Class M-8, Xxxss M-8 and Class M-9 and Class M-10 Certificates, after giving effect to distributions made in that order, any Unpaid Realized Loss Amount on for that Distribution Date, equals the Class M-10 Target Amount for and that Distribution Date; (iiiv) firstto the Carryover Reserve Fund, the amount of any Net Rate Carryover and then from the Carryover Reserve Fund, in the following priority: (A) concurrently to the Classes of the Senior CertificatesCertificates pro rata, pro rata based on their respective Unpaid Realized Loss Amounts, in an the amount equal to the Unpaid Realized Loss Amount of any Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts for each such Class; Class and secondthat Distribution Date (as reduced by amounts received from the Corridor Contract with respect to the Class A2-A1 Certificates), to be paid from amounts on deposit in the Carryover Reserve Fund, pro rata; (B) [Reserved]; (C) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0M-4, Xxxss Class M-5, Class M-6X-0, Xxxxx X-7, Class M-7, Class M-8, M-8 and Class M-9 and Class M-10 Certificates, in that order, in each case, first in an amount equal to any applicable Net Rate Carryover Amounts and unpaid Net Rate Carryover Amounts Amount for each such Class and that Distribution Date and second in an amount equal to any Unpaid Realized Loss Amount for that Class and that Distribution Date; and (ivD) to the Class C Certificates, as provided in this Agreement, any amounts remaining in the Carryover Reserve Fund in excess of amounts required to be on deposit therein after satisfying priorities (v)(A) through (iv)(C) above for that Distribution Date; and (vi) to the Class R Certificate, any remaining amount.