Common use of Distributions on Certificates Clause in Contracts

Distributions on Certificates. (a) On or before each Determination Date for each Series (or as soon thereafter as is reasonably practicable), the Trustee will calculate, or cause to be calculated, the Class Distribution Amount for each Class in such Series for the current calendar month. On or before each Distribution Date for each Series, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (b) To the extent the amount withdrawn from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Distribution Amount for any Class in such Series, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.04. (c) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series in the respective amounts and in the applicable manner determined as provided in this Section 3.06. (d) The aggregate amount of interest and principal distributable on each Class in a Series during any calendar month will be equal to the related Class Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the interest distributable thereon on such Distribution Date and then to the principal thereof. All distributions of principal and interest that are made with respect to a particular Class will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (e) Except as provided below in the case of any Accrual Class, interest will accrue on the Class Balance of each interest-bearing RCR Class during the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof. For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR Class, the related Class Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date.

Distributions on Certificates. (a) On or before each Determination Date for each Series (or as soon thereafter as is reasonably practicable), the Trustee will calculate, or cause to be calculated, the Class Certificate Distribution Amount for each Class in such Series for the current calendar month. On or before each Distribution Date for each such Series, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Certificate Distribution Amount for each Class in such Series a Trust (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (b) To the extent the amount withdrawn from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Certificate Distribution Amount for any Class in such Seriesa Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (c) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record as of the related Record Date, in immediately available funds, the Class Certificate Distribution Amount for each Class in such Series a Trust in the respective amounts and in the applicable manner determined as provided in this Section 3.064.03. (d) The aggregate amount of interest and principal distributable on each Class in a Series the Certificates during any calendar month will be equal to the related Class Certificate Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the interest distributable thereon on such Distribution Date and then to the principal thereof. All Except for distributions of principal in respect of any Retail Certificates, all distributions of principal and interest that are made with respect to a particular Class of Certificates will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (e) Except Interest will accrue on the Class Balance of each Class of interest-bearing Certificates during the related Interest Accrual Period at the applicable Interest Rate and, except as provided below in the case of any Accrual Class, interest will accrue on the Class Balance of each interest-bearing RCR Class during the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof. For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR Classand any Interest Accrual Period, the related Class Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each such Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date. (g) Distributions of the Principal Distribution Amount of any Series will be made in the order and in the amounts as among related Classes as provided in the related Prospectus Supplement and, if applicable, in the related Issue Supplement. (h) With respect to any Single Tier REMIC or any Upper Tier REMIC, the Trustee for the related Trust will instruct the applicable Paying Agent to distribute to the Holder of the related R Class Certificate the proceeds of the remaining assets, if any, of such Single Tier REMIC or Upper Tier REMIC, as applicable, after the Class Balances of the related Classes of Regular Certificates have been reduced to zero. With respect to any Middle Tier REMIC, the Trustee for the related Trust will instruct the applicable Paying Agent to distribute to the Holder of the related RM Class Certificate the proceeds of the remaining assets, if any, of such Middle Tier REMIC after the principal balances of the related Middle Tier Regular Interests have been reduced to zero. With respect to any Lower Tier REMIC, the Trustee for the related Trust will instruct the applicable Paying Agent to distribute to the Holder of the related RL Class Certificate the proceeds of the remaining assets, if any, of such Lower Tier REMIC after the principal balances of the related Lower Tier Regular Interests have been reduced to zero. (i) No distributions will be made on any Residual Certificate of a Series that is a No Payment Residual Certificate on any Distribution Date, other than any distributions to be made from any Retail Cash Deposit Account relating to such Series pursuant to Section 4.04(d) or to the related Issue Supplement, as applicable, except upon presentation and surrender of such Residual Certificate to the applicable Paying Agent at the Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from the Trustee.

Distributions on Certificates. (a) On or before each Determination Distribution Date for each Series (or as soon thereafter as is reasonably practicable)Issue, the Trustee will calculate, or cause to be calculated, the Class related Distribution Amount for such Issue; provided that, in calculating or causing to be calculated the amount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Distribution Amount for each Class in such Series Issue for the current calendar month. that Distribution Date. (b) On or before each Distribution Date for each SeriesDate, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series Issue (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (bc) To the extent the amount withdrawn distributed from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Distribution Amount for any Class in such Serieswith respect to a Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (cd) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record each Holder as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series Holder’s Percentage Interest in the respective amounts and in the applicable manner determined as provided in this Section 3.06Distribution Amount. (de) The aggregate amount of interest and principal distributable on each Class in a Series the Certificates of any Issue during any calendar month will be equal to the related Class Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the any interest distributable thereon on the Certificate on such Distribution Date and then to any principal distributable on the principal thereofCertificate. All distributions of principal and interest that are made with respect to a particular Class Issue of Mega Certificates will be made pro rata among all Outstanding Certificates of such Class Issue in proportion to their respective Certificate Balances, with no preference or priority of any kind. (ef) Except as provided below in the case of any Accrual Classfollowing sentence, interest will accrue on the Class Balance Certificates of each interest-bearing RCR Class during an Issue for the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereofof the Certificate, minus the applicable portion of any Deferred Interest added to the aggregate principal balance of the related Pooled Securities with respect to such Distribution Date. As to any Distribution Date, the Deferred Interest, if any, with respect to the Pooled Securities relating to an Issue will be allocated to the Certificates of the applicable Issue, pro rata, based on their respective Certificate Balances. (g) For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR ClassCertificate, the related Class Certificate Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date.

Distributions on Certificates. (a) On or before each Determination Date for each Series (or as soon thereafter as is reasonably practicable), the Trustee will calculate, or cause to be calculated, the Class Distribution Amount for each Class in such Series for the current calendar month. On or before each Distribution Date for each a Series, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (b) To the extent the amount withdrawn Farmer Mac shxxx xithdraw from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Distribution Amount for any Class in such Series, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.04. (c) On or before each Distribution Dateextent of funds available therefor, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series in the respective amounts and in the applicable manner determined as provided in this Section 3.06. (d) The aggregate amount of interest and principal distributable on each Class in a Series during any calendar month will be equal to the related Class Certificate Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date previously calculated by it pursuant to Section 5.02. In the event that the Certificate Distribution Amount may not be paid from amounts in the Certificate Account, Farmer Mac shaxx, xxrsuant to its guarantee obligations set forth in Section 5.05 hereof, provide from its own funds the amount of any insufficiency and shall distribute in Federal Funds to each Certificateholder of record on the preceding Record Date the amount distributable on such Certificateholder's Certificate(s) as determined pursuant to Section 3.01. Concurrently therewith, in the event the Certificate Account shall not be maintained with the Trustee, Farmer Mac shxxx xurnish to the Trustee an Officer's Certificate (which may also relate to other Series comprised of Classes having a similar Distribution Date) to the effect that distribution of the Certificate Distribution Amount for such Series and Distribution Date has been made by it. As promptly as practicable following each Certificate Account Deposit Date in the month of a Distribution Date, Farmer Mac shaxx, xx the event the amount on deposit in the Certificate Account shall be less than the Certificate Distribution Amount for such Distribution Date, provide to the Trustee an Officer's Certificate stating (i) the amount of such insufficiency, (ii) whether Farmer Mac is xxxxxxn that funds will be applied first available to the interest distributable thereon it on such Distribution Date in an amount sufficient to cure such insufficiency without the necessity of borrowing from the United States Treasury and then (iii) in the event that the response to (ii) is in the negative, attaching to such Officer's Certificate a copy of the certification furnished to the principal thereof. All distributions Secretary of principal and interest the Treasury requesting that are made with respect to a particular Class will funds in the necessary amount be made pro rata among all Outstanding Certificates available to Farmer Mac on xx xxxore such Distribution Date for purposes of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (e) Except as provided below in the case of any Accrual Class, interest will accrue on the Class Balance of each interest-bearing RCR Class during the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance satisfying its guarantee obligations in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof. For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR Class, the related Class Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning Series of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days eachCertificates. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date.

Distributions on Certificates. (a) On or before each Determination Distribution Date for each Series (or as soon thereafter as is reasonably practicable)Mega Issue and SMBS Series, the Trustee will calculate, or cause to be calculated, the related Mega Distribution Amount for such Mega Issue and the related SMBS Class Distribution Amount for each Class of SMBS Certificates with respect to a SMBS Series; provided that, in such Series for calculating or causing to be calculated the current calendar monthamount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Mega Distribution Amount for each Mega Issue and the SMBS Class Distribution Amount for each Class of SMBS Certificates with respect to a SMBS Series for that Distribution Date. (b) On each Distribution Date for each SeriesDate, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Mega Distribution Amount for each Mega Issue and the SMBS Class Distribution Amount for each Class in such of SMBS Certificates with respect to a SMBS Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (bc) To the extent the amount withdrawn distributed from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Mega Distribution Amount or any SMBS Class Distribution Amount for any Class in such Serieswith respect to a Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (cd) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record each Holder as of the related Record Date, in immediately available funds, such Holder’s Percentage Interest in the Mega Distribution Amount or the applicable SMBS Class Distribution Amount for each Class in such Series in the respective amounts and in the applicable manner determined as provided in this Section 3.06Amount. (de) The aggregate amount of interest and principal distributable on each the Certificates of any Mega Issue or Certificates of any SMBS Class in a Series during any calendar month will be equal to the related Mega Distribution Amount or SMBS Class Distribution Amount Amount, as applicable, for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the any interest distributable thereon on the Certificate on such Distribution Date and then to the principal thereofof the Certificate, if any. All distributions of principal and interest that are made with respect to a particular Class of Certificates will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (ef) Except as provided below in the case of any Accrual Classfollowing sentence, interest will accrue on the each Class Balance of each interest-interest- bearing RCR Class during Certificates for the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any interest-bearing Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof. For purposes of calculating the accrual Certificate, minus the applicable portion of interest any Deferred Interest added to the aggregate principal balance of the related Pooled Securities with respect to such Distribution Date. As to any interest-bearing RCR Class or Certificate of an RCR ClassDistribution Date, the related Class Balance or Certificate BalanceDeferred Interest, as applicableif any, will be deemed to adjust at the beginning of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as Pooled Securities relating to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon a Mega Issue will be distributed thereon as interest allocated to the Certificates of the applicable Mega Issue, pro rata, based on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Datetheir respective Certificate Balances.

Distributions on Certificates. (a) On or before each Determination Distribution Date for each Series (or as soon thereafter as is reasonably practicable)Issue, the Trustee will calculate, or cause to be calculated, the Class related Distribution Amount for such Issue; provided that, in calculating or causing to be calculated the amount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Distribution Amount for each Class in such Series Issue for the current calendar month. that Distribution Date. (b) On or before each Distribution Date for each SeriesDate, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series Issue (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (bc) To the extent the amount withdrawn distributed from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Distribution Amount for any Class in such Serieswith respect to a Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (cd) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record each Holder as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series Holder’s Percentage Interest in the respective amounts and in the applicable manner determined as provided in this Section 3.06Distribution Amount. (de) The aggregate amount of interest and principal distributable on each Class in a Series the Certificates of any Issue during any calendar month will be equal to the related Class Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the any interest distributable thereon on the Certificate on such Distribution Date and then to any principal distributable on the principal thereofCertificate. All distributions of principal and interest that are made with respect to a particular Class Issue of Certificates will be made pro rata among all Outstanding Certificates of such Class Issue in proportion to their respective Certificate Balances, with no preference or priority of any kind. (ef) Except as provided below in the case of any Accrual Classfollowing sentence, interest will accrue on the Class Balance Certificates of each interest-bearing RCR Class during an Issue for the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereofof the Certificate, minus the applicable portion of any Deferred Interest added to the aggregate principal balance of the related Pooled Securities with respect to such Distribution Date. As to any Distribution Date for a Certificate, the Deferred Interest, if any, with respect to the Pooled Securities relating to an Issue will be allocated to the Certificates of the applicable Issue, pro rata, based on their respective Certificate Balances. (g) For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR ClassCertificate, the related Class Certificate Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date.

Distributions on Certificates. (a) On or before each Determination Distribution Date for each Series (or as soon thereafter as is reasonably practicable)Series, the Trustee will calculate, or cause to be calculated, the related Class Distribution Amount for each Class of Certificates with respect to a Series; provided that, in such Series for calculating or causing to be calculated the current calendar monthamount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Class Distribution Amount for each Class of Certificates with respect to a Series for that Distribution Date. (b) On each Distribution Date for each SeriesDate, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such of Certificates with respect to a Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (bc) To the extent the amount withdrawn distributed from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the any Class Distribution Amount for any Class in such Serieswith respect to a Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (cd) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record each Holder as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series in the respective amounts and Holder’s Percentage Interest in the applicable manner determined as provided in this Section 3.06Class Distribution Amount. (de) The aggregate amount of interest and principal distributable on each the Certificates of any Class in a Series during any calendar month will be equal to the related Class Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the any interest distributable thereon on the Certificate on such Distribution Date and then to the principal thereofof the Certificate, if any. All distributions of principal and interest that are made with respect to a particular Class of Certificates will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (ef) Except as provided below in the case of any Accrual Classfollowing sentence, interest will accrue on the each Class Balance of each interest-interest- bearing RCR Class during Certificates for the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any interest-bearing Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof. of the Certificate. (g) For purposes of calculating the accrual of interest with respect to any interest-interest- bearing RCR Class or Certificate of an RCR ClassCertificate, the related Class Certificate Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date.

Distributions on Certificates. (a) On or before each Determination Distribution Date for each Series (or as soon thereafter as is reasonably practicable)Mega Issue and SMBS Series, the Trustee will calculate, or cause to be calculated, the related Mega Distribution Amount for such Mega Issue and the related SMBS Class Distribution Amount for each Class in such Series for the current calendar monthof SMBS Certificates with respect to a SMBS Series. On or before each Distribution Date for each SeriesDate, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Mega Distribution Amount for each Mega Issue and the SMBS Class Distribution Amount for each Class in such of SMBS Certificates with respect to a SMBS Series (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (b) To the extent the amount withdrawn distributed from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Mega Distribution Amount or any SMBS Class Distribution Amount for any Class in such Serieswith respect to a Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (c) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record each Holder as of the related Record Date, in immediately available funds, such Holder’s Percentage Interest in the Mega Distribution Amount or the applicable SMBS Class Distribution Amount for each Class in such Series in the respective amounts and in the applicable manner determined as provided in this Section 3.06Amount. (d) The aggregate amount of interest and principal distributable on each the Certificates of any Mega Issue or Certificates of any SMBS Class in a Series during any calendar month will be equal to the related Mega Distribution Amount or SMBS Class Distribution Amount Amount, as applicable, for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the any interest distributable thereon on the Certificate on such Distribution Date and then to the principal thereofof the Certificate, if any. All distributions of principal and interest that are made with respect to a particular Class of Certificates will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (e) Except as provided below in the case of any Accrual Classfollowing sentence, interest will accrue on the each Class Balance of each interest-interest- bearing RCR Class during Certificates for the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any interest-bearing Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereofof the Certificate, minus the applicable portion of any Deferred Interest added to the aggregate principal balance of the related Pooled Securities with respect to such Distribution Date. As to any Distribution Date, the Deferred Interest, if any, with respect to the Pooled Securities relating to a Mega Issue will be allocated to the Certificates of the applicable Mega Issue, pro rata, based on their respective Certificate Balances. (f) For purposes of calculating the accrual of interest with respect to any interest-interest- bearing RCR Class or Certificate of an RCR ClassCertificate, the related Class Certificate Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date.

Distributions on Certificates. (a) On or before each Determination Date for each Series (or as soon thereafter as is reasonably practicable), the Trustee will calculate, or cause to be calculated, the Class Certificate Distribution Amount for each Class in such Series for the current calendar month. On or before each Distribution Date for each such Series, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Certificate Distribution Amount for each Class in such Series a Trust (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (b) To the extent the amount withdrawn from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Certificate Distribution Amount for any Class in such Seriesa Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (c) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record as of the related Record Date, in immediately available funds, the Class Certificate Distribution Amount for each Class in such Series a Trust in the respective amounts and in the applicable manner determined as provided in this Section 3.064.03. (d) The aggregate amount of principal, interest and principal any Prepayment Premium Amount distributable on each Class in a Series the Certificates during any calendar month will be equal to the related Class Certificate Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the interest distributable thereon on such Distribution Date and then to the principal thereof. All Except for distributions of principal in respect of any Retail Certificates, all distributions of principal and interest that are made with respect to a particular Class of Certificates will be made pro rata among all Outstanding Certificates of such Class in proportion to their respective Certificate Balances, with no preference or priority of any kind. (e) Except Interest will accrue on the Class Balance of each Class of interest-bearing Certificates during the related Interest Accrual Period at the applicable Interest Rate and, except as provided below in the case of any Accrual Class, interest will accrue on the Class Balance of each interest-bearing RCR Class during the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereof. For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR Classand any Interest Accrual Period, the related Class Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each such Interest Accrual Period. All computations of interest accrued on any Certificate of an RCR Class will be made as if each year consisted of twelve months of thirty days each. (f) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance on the related Distribution Date. (g) Distributions of the Principal Distribution Amount of any Series will be made in the order and in the amounts as among related Classes as provided in the related Prospectus Supplement and, if applicable, in the related Issue Supplement. (h) With respect to any Single Tier REMIC or any Upper Tier REMIC, the Trustee for the related Trust will instruct the applicable Paying Agent to distribute to the Holder of the related R Class Certificate the proceeds of the remaining assets, if any, of such Single Tier REMIC or Upper Tier REMIC, as applicable, after the Class Balances of the related Classes of Regular Certificates have been reduced to zero. With respect to any Middle Tier REMIC, the Trustee for the related Trust will instruct the applicable Paying Agent to distribute to the Holder of the related RM Class Certificate the proceeds of the remaining assets, if any, of such Middle Tier REMIC after the principal balances of the related Middle Tier Regular Interests have been reduced to zero. With respect to any Lower Tier REMIC, the Trustee for the related Trust will instruct the applicable Paying Agent to distribute to the Holder of the related RL Class Certificate the proceeds of the remaining assets, if any, of such Lower Tier REMIC after the principal balances of the related Lower Tier Regular Interests have been reduced to zero. (i) No distributions will be made on any Residual Certificate of a Series that is a No Payment Residual Certificate on any Distribution Date, other than any distributions to be made from any Retail Cash Deposit Account relating to such Series pursuant to Section 4.04(d) or to the related Issue Supplement, as applicable, except upon presentation and surrender of such Residual Certificate to the applicable Paying Agent by delivery to the applicable Corporate Trust Office or such other office or address as may be specified in the notice of such final distribution from the Trustee. (j) In addition to interest distributable thereon as provided in this Section 4.03, on each Distribution Date, the Prepayment Premium Amount, if any, with respect to that Distribution Date, shall be distributed on certain Classes of Certificates in the amounts and in the manner described in the related Prospectus Supplement.

Distributions on Certificates. (a) On or before each Determination Distribution Date for each Series (or as soon thereafter as is reasonably practicable)Issue, the Trustee will calculate, or cause to be calculated, the Class related Distribution Amount for such Issue; provided that, in calculating or causing to be calculated the amount to be distributed on any Distribution Date, the Trustee will make any adjustments as are necessary to reconcile prior payments made in error. On or before the Distribution Date, the Trustee will notify the Paying Agent, or cause the Paying Agent to be notified, of the Distribution Amount for each Class in such Series Issue for the current calendar month. that Distribution Date. (b) On or before each Distribution Date for each SeriesDate, the Trustee will withdraw and deliver to the applicable Paying Agent, or cause to be withdrawn and so delivered, funds from the related Certificate Account in the amount of the Class Distribution Amount for each Class in such Series Issue (or if sufficient funds for a Trust are not then available in the related Certificate Account, as much as is available). (bc) To the extent the amount withdrawn distributed from the Certificate Account and delivered to the applicable Paying Agent on the Distribution Date is insufficient to pay the Class Distribution Amount for (excluding any Class in such SeriesHolders’ Prepayment Premium Portion) with respect to a Trust, the Paying Agent will receive funds pursuant to the Guaranty as described in Section 4.045.05. (cd) On or before each Distribution Date, the Trustee will instruct the applicable Paying Agent to distribute to Holders of record each Holder as of the related Record Date, in immediately available funds, the Class Distribution Amount for each Class in such Series Holder’s Percentage Interest in the respective amounts and in the applicable manner determined as provided in this Section 3.06Distribution Amount. (de) The aggregate amount of interest and principal distributable on each Class in a Series the Certificates of any Issue during any calendar month will be equal to the related Class Distribution Amount for such calendar month. All distributions made with respect to any Certificate on any Distribution Date will be applied first to the any interest distributable thereon on the Certificate on such Distribution Date and then to any principal distributable on the principal thereofCertificate, provided that any Holders’ Prepayment Premium Portions that are distributed with respect to any Certificate on any Distribution Date will not be applied in respect of interest or principal. All distributions of principal and interest that are made with respect to a particular Class Issue of Mega Certificates will be made pro rata among all Outstanding Certificates of such Class Issue in proportion to their respective Certificate Balances, with no preference or priority of any kind. (ef) Except as provided below in the case of any Accrual Classfollowing sentence, interest will accrue on the Class Balance Certificates of each interest-bearing RCR Class during an Issue for the related Interest Accrual Period at the applicable Interest Rate and will be distributed on each applicable Distribution Date. The total amount of interest distributed or added to the Certificate Balance in respect of any Certificate of an RCR Class on any Distribution Date will be equal to one month’s interest at the applicable Interest Rate on the Certificate Balance thereofof the Certificate, minus the applicable portion of any Deferred Interest added to the aggregate principal balance of the related Pooled Securities with respect to such Distribution Date. As to any Distribution Date, the Deferred Interest, if any, with respect to the Pooled Securities relating to an Issue will be allocated to the Certificates of the applicable Issue, pro rata, based on their respective Certificate Balances. (g) For purposes of calculating the accrual of interest with respect to any interest-bearing RCR Class or Certificate of an RCR ClassCertificate, the related Class Certificate Balance or Certificate Balance, as applicable, will be deemed to adjust at the beginning of each Interest Accrual Period. All Based on information in the related Issue Supplement for each Issue, computations of interest accrued on any Certificate of an RCR Class will be made either (i) as if each year consisted of twelve months of thirty days each. each or (fii) Interest accrued with respect to each Accrual Class during any Interest Accrual Period will not be distributed thereon as interest; provided, however, that in the case of each Accrual Class as to which an Initial Interest Distribution Date is specified in the related Prospectus Supplement, interest accrued thereon will be distributed thereon as interest on such Initial Interest Distribution Date and on each Distribution Date thereafter. Interest so accrued and not distributed on each such Accrual Class will be added to its Class Balance based on the related Distribution Dateactual number of calendar days in each of the twelve months of a year.