Common use of Distributions on Certificates; Xxxxxx Mae Guaranty Clause in Contracts

Distributions on Certificates; Xxxxxx Mae Guaranty. On or before each Distribution Date (or as soon thereafter as is reasonably practicable), Xxxxxx Xxx shall calculate the Certificate Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Mae shall withdraw from the Certificate Account the applicable portion of the Certificate Distribution Amount distributable thereon and shall make the distributions to the Holders of each Class of Certificates in the respective amounts and in the applicable manner determined as provided herein. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Certificate Distribution Amount, Xxxxxx Xxx shall provide from its own funds the amount of any insufficiency. In addition, in the event that (i) the Certificate Distribution Amount shall be insufficient to pay all interest due and payable on the Certificates during a particular month or (ii) any Distribution Date occurring during such month is a Final Distribution Date for a Class of Certificates and the distribution during such month of the Certificate Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Mae shall (a) withdraw from the Certificate Account such amount as shall be necessary to remedy any such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same. Any distribution of principal pursuant to the preceding sentence shall be deemed to be part of the Principal Distribution Amount for purposes of all future calculations of Class Factors.

Distributions on Certificates; Xxxxxx Mae Guaranty. On or before each Distribution Date (or as soon thereafter as is reasonably practicable), Xxxxxx Xxx shall calculate the Certificate Distribution Amount for the current calendar month. On each Distribution Date, Xxxxxx Mae shall withdraw from the Certificate Account the applicable portion of the Certificate Distribution Amount distributable thereon and shall make the distributions to the Holders of each related Class of Certificates in the respective amounts and in the applicable manner determined as provided herein. In the event that the amount on deposit in the Certificate Account on any Distribution Date shall be less than the applicable portion of the Certificate Distribution Amount, Xxxxxx Xxx shall provide from its own funds the amount of any insufficiency. In addition, in the event that (i) the Certificate Distribution Amount shall be insufficient to pay all interest due and payable on the Certificates during a particular month or (ii) any Distribution Date occurring during such month is a Final Distribution Date for a Class of Certificates (other than an Interest Only Class) and the distribution during such month of the Certificate Distribution Amount will not be sufficient to reduce the Class Balance of such Class to zero on such Final Distribution Date, then Xxxxxx Mae shall (a) withdraw from the Certificate Account such amount as shall be necessary to remedy any such insufficiency and (b) to the extent that funds in the Certificate Account shall be insufficient therefor, apply its own funds towards remedying the same. Any distribution of principal pursuant to the preceding sentence shall be deemed to be part of the Principal Distribution Amount for purposes of all future calculations of Class Factors.