Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order:
(i) from the Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty under the Swap Contract with respect to such Distribution Date;
(ii) concurrently:
(A) from Interest Funds for Loan Group 1, to the Class 1-A Certificates, the Current Interest and Interest Carry Forward Amount for such Class and such Distribution Date; and
(B) from Interest Funds for Loan Group 2, concurrently, to each Class of Group 2 Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and such Distribution Date, pro rata, based on the amount of interest each such Class is entitled to receive on that Distribution Date;
(iii) from the remaining Interest Funds for both Loan Groups to each Class of Senior Certificates, any remaining Current Interest and Interest Carry Forward Amount not paid pursuant to clauses (a)(ii)(A) or (a)(ii)(B) above, pro rata, based on their respective Class Certificate Balances, to the extent needed to pay any Current Interest and Interest Carry Forward Amount for each such Class; provided that Interest Funds remaining after such allocation to pay any Current Interest and Interest Carry Forward Amount based on their respective Class Certificate Balances, will be distributed to each Class of Senior Certificates with respect to which there remains any unpaid Current Interest and Interest Carry Forward Amount (after the distribution based on their respective Class Certificate Balances, pro rata, based on the amount of such remaining unpaid Current Interest and Interest Carry Forward Amount;
(iv) from the remaining Interest Funds from both Loan Groups in the following order:
(A) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and
(B) any remainder as part of the Excess Cashflow.
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority:
Distributions of Interest Funds. On each Distribution Date (or in the case of payments to the Swap Counterparty, the Business Day prior to each Distribution Date), the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority, until such Interest Funds have been fully distributed:
(i) to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment payable to the Swap Counterparty with respect to that Distribution Date (including amounts remaining unpaid from previous Distribution Dates);
(ii) concurrently to each Class of Senior Certificates, the Current Interest and Interest Carry Forward Amount for each of those Classes and that Distribution Date, pro rata, based on the amount of interest each Class is entitled to receive on that Distribution Date; provided, however, that if funds available are insufficient to pay that amount, any resulting shortfalls will be allocated pro rata on the basis of Current Interest and Interest Carry Forward Amounts due such Classes on that Distribution Date; and
(iii) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Cxxxx X-0 xxx Xlass M-8 Certificates, in that order, the Current Interest and Interest Carry Forward Amount for each such Class and that Distribution Date; and
(iv) for application as part of the Excess Cashflow for that Distribution Date, pursuant to Section 4.02(c) below, any such Interest Funds remaining undistributed for that Distribution Date.
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority:
(i) concurrently, to each Class of Senior Certificates, the Current Interest and Interest Carry Forward Amount for each such Class and Distribution Date, pro rata, based on their respective entitlements;
(ii) sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxxs M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates, in that order, the Current Interest for each such Class and Distribution Date; and
(iii) any remainder as part of the Excess Cashflow.
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority, until such Interest Funds have been fully distributed:
(i) concurrently to each Class of Senior Certificates, the Current Interest and Interest Carry Forward Amount for each of those Classes and that Distribution Date, pro rata, based on the amount of interest each Class is entitled to receive on that Distribution Date; and
(ii) sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5 andClass M-6 Xxxxxxxxxxxx, in that order, the Current Interest for each such Class and that Distribution Date; and
(iii) for application as part of the Excess Cashflow for that Distribution Date, pursuant to Section 4.02(c) below.
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order:
(1) to the Derivative Account, any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Counterparty Trigger Event) payable to the Counterparty under the Swap Contract with respect to such Distribution Date;
(2) concurrently, to each Class of Senior LIBOR Certificates, the related Current Interest and Interest Carry Forward Amount, pro rata based on their respective entitlements;
(3) sequentially, in order of their distribution priorities, to each Class of Subordinated Certificates, the Current Interest for each such Class; and
(4) any remainder as part of the Excess Cashflow.
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order:
(1) prior to the termination of the Swap Contracts, concurrently, to each Swap Account, the amount of the Swap Fee payable to the Swap Counterparty under the related Swap Contract with respect to such Distribution Date, pro rata, based on the Swap Fee for each Swap Contract;
(2) prior to the termination of the Swap Contracts, concurrently, to each Swap Account, interest on the related Swap Principal Amount at the related Swap Rate for that Distribution Date, pro rata based on their respective entitlements;
(3) concurrently, to each Class of MTA Certificates, Current Interest and Interest Carry Forward Amounts, pro rata, based on their respective entitlements; provided, however, that prior to the termination of a Swap Contract, the related Class of Swap Certificates shall be not entitled to any distribution according to this priority and, provided, further, that if a Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) is due to the Swap Counterparty pursuant to the terms of a Swap Contract, then any amounts of Current Interest and Interest Carry Forward Amount that would be distributed to the related Class of MTA Certificates will instead be distributed, up to the amount of such Swap Termination Payment, to the related Swap Account;
(4) sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class M-9 Certificates, in that order, the Current Interest for each such Class and such Distribution Date; and
(5) any remainder as part of the Excess Cashflow.
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority, until such Interest Funds have been fully distributed:
(i) concurrently:
(A) from the Interest Funds for Loan Group 2, to the Class 2-A-1 Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) the Swap Fee payable to the Class 2-A-1 Swap Counterparty under the Class 2-A-1 Swap Contract with respect to such Distribution Date; and
(B) from the Interest Funds for both Loan Groups, pro rata based on the Interest Funds for each Loan Group, to the Certificate Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Certificate Swap Counterparty under the Certificate Swap Contract with respect to such Distribution Date;
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority:
(i) from Interest Funds for Loan Group 1 and Loan Group 2, pro rata based on the Interest Funds for each such Loan Group, to the Swap Account, the amount of any Net Swap Payment and any Swap Termination Payment (other than a Swap Termination Payment due to a Swap Counterparty Trigger Event) payable to the Swap Counterparty with respect to such Distribution Date;
Distributions of Interest Funds. On each Distribution Date, the Interest Funds for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority, until such Interest Funds have been fully distributed:
(i) concurrently, to each Class of Group II Senior Certificates, the related Interest Distribution Amount, pro rata based on the Interest Distribution Amount for each such Class;
(ii) concurrently, to each Class of Group II Senior Certificates, the Interest Carry Forward Amount, pro rata based on the Interest Carry Forward Amount for each such Class;
(iii) sequentially, to the Class 4-M-1, Class 4-M-2, Class 4-M-3 and Class 4-M-4 Certificates, in that order, the Interest Distribution Amount and the Interest Carry Forward Amount for that Class of Certificates for that Distribution Date; and
(iv) for application as part of the Excess Cashflow for that Distribution Date, pursuant to Section 4.03(c) below.
