Common use of Distributions of Principal Distribution Amount Clause in Contracts

Distributions of Principal Distribution Amount. On each Distribution Date, the Principal Distribution Amount from both Loan Groups for such Distribution Date shall be allocated by the Trustee from the Distribution Account in the following order of priority with all distributions pursuant to this clause (b) being made first from the Principal Remittance Amount: (i) For each Distribution Date prior to the Stepdown Date or on which a Trigger Event is in effect, sequentially: (A) concurrently: (1) from the Principal Distribution Amount for Loan Group 1, sequentially: (a) to the Class A-R Certificates, until its Class Certificate Balance is reduced to zero, (b) to the Class 1-A Certificates, until its Class Certificate Balance is reduced to zero;

Appears in 3 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc7), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc7), Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oc6)

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