Common use of Distributions on the REMIC Regular Interests Clause in Contracts

Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause in the following order of priority, the following amounts which shall be deemed to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be: first, to the extent of Available Funds, to Holders of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTI-A1, REMIC 1 Regular Interest LTI-A2, REMIC 1 Regular Interest LTII-A1, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4, REMIC 1 Regular Interest LTB5, REMIC 1 Regular Interest LTZZ and REMIC 1 Regular Interest LTP, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 1 Regular Interest LTZZ shall be reduced and deferred when the REMIC 1 Overcollateralization Amount is less than the REMIC 1 Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Accrued Interest Deferral Amount and such amount will be payable to the Holders of REMIC 1 Regular Interest LTI-A1, REMIC 1 Regular Interest LTI-A2, REMIC 1 Regular Interest LTII-A1, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4 and REMIC 1 Regular Interest LTB5 in the same proportion as the Overcollaterization Deficiency Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of the REMIC 1 Regular Interest LTZZ shall be increased by such amount; and second, to the Holders of REMIC 1 Regular Interests, in an amount equal to the remainder of the Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:

Distributions on the REMIC Regular Interests. (a) On each Distribution Date, the Trustee shall cause in the following order of priority, the following amounts which shall be deemed to be distributed by REMIC 1 to REMIC 2 on account of the REMIC 1 Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates (in respect of the Class R-1 Interest), as the case may be: first, to the extent of Available Funds, to Holders of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTI-A1, REMIC 1 Regular Interest LTI-A2, REMIC 1 Regular Interest LTII-A1, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4, REMIC 1 Regular Interest LTB5LTM10, REMIC 1 Regular Interest LTZZ and REMIC 1 Regular Interest LTP, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 1 Regular Interest LTZZ shall be reduced and deferred when the REMIC 1 Overcollateralization Amount is less than the REMIC 1 Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Accrued Interest Deferral Amount Amount; and such amount will be payable to the Holders of REMIC 1 Regular Interest LTI-A1LTIA1, REMCI 1 Regular Interest LTIA2, REMIC 1 Regular Interest LTI-A2LTIIA1, REMIC 1 Regular Interest LTII-A1LTIIA2, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3LTIIA3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4 LTM9 and REMIC 1 Regular Interest LTB5 LTM10 in the same proportion as the Overcollaterization Overcollateralization Deficiency Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of the REMIC 1 2 Regular Interest LTZZ shall be increased by such amount; and second, to the Holders of REMIC 1 Regular Interests, in an amount equal to the remainder of the Available Funds for such Distribution Date after the distributions made pursuant to clause (i) above, allocated as follows:

Distributions on the REMIC Regular Interests. Distributions of principal from the Loans shall be deemed to be made to the REMIC I Regular Interests, in each case from the related Loan Group, first, to REMIC I Regular Interest LT-1B, REMIC I Regular Interest LT-2B, REMIC I Regular Interest LT-3B, REMIC I Regular Interest LT-4B, REMIC I Regular Interest LT-5B, REMIC I Regular Interest LT-6B and REMIC I Regular Interest LT-7B until the Uncertificated Principal Balance of REMIC I Regular Interest LT-1B, REMIC I Regular Interest LT-2B, REMIC I Regular Interest LT-3B, REMIC I Regular Interest LT-4B, REMIC I Regular Interest LT-5B, REMIC I Regular Interest LT-6B and REMIC I Regular Interest LT-7B is reduced to zero; second, to REMIC I Regular Interest LT- 2PF, REMIC I Regular Interest LT-4PF, REMIC I Regular Interest LT-5PF and REMIC I Regular Interest LT-6PF, until the Uncertificated Principal Balance of REMIC I Regular Interest LT-2PF, REMIC I Regular Interest LT-4PF, REMIC I Regular Interest LT-5PF and REMIC I Regular Interest LT-6PF, is reduced to zero. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on each such REMIC I Regular Interest’s Uncertificated Principal Balance. Any remaining amount to the Class R Certificates (a) with respect to Component R-1). On each Distribution Date, amounts representing Prepayment Charges on the Trustee Loans serviced by GMAC shall cause in be deemed distributed to REMIC I Regular Interest LT-P1 and amounts representing Prepayment Charges on the following order of priorityLoans serviced by GreenPoint, the following amounts which National City and RFC shall be deemed to be distributed by REMIC 1 to REMIC 2 on account I Regular Interest LT-P2, provided that such amounts shall not reduce the Uncertificated Principal Balance of each such REMIC I Regular Interest. On the Distribution Date immediately following the expiration of the latest Prepayment Charge term as identified on the Prepayment Charge Schedule, $100 shall be deemed distributed in respect of each of REMIC 1 I Regular Interest LT-P1 and REMIC I Regular Interest LT-P2 in reduction of the Uncertificated Principal Balance thereof. Distributions of principal from the Loans shall be deemed to be made to the REMIC II Regular Interests, in each case from the related Loan Group, first, to REMIC II Regular Interest LT-1SUB, REMIC II Regular Interest LT-2SUB, REMIC II Regular Interest LT-3SUB, REMIC II Regular Interest LT-4SUB, REMIC II Regular Interest LT-5SUB, REMIC II Regular Interest LT-6SUB and REMIC II Regular Interest LT-7SUB, as applicable, so that the Uncertificated Principal Balance of each such REMIC II Regular Interest is equal to 0.1% of the excess of (x) the aggregate Scheduled Principal Balance of the Loans in the related Loan Group over (y) the current Certificate Principal Balance of the related Senior Certificates (other than the Class I-A-IO Certificates) (except that if any such excess is a larger number than in the preceding distribution period, the least amount of principal shall be distributed to such REMIC II Regular Interests or withdrawn from such that the Distribution Account REMIC II Subordinated Balance Ratio is maintained); second, to REMIC II Regular Interest LT-1GRP, REMIC II Regular Interest LT-2GRP, REMIC II Regular Interest LT-3GRP, REMIC II Regular Interest LT-4GRP, REMIC II Regular Interest LT-5GRP, REMIC II Regular Interest LT-6GRP and distributed REMIC II Regular Interest LT-7GRP, as applicable, so that the Uncertificated Principal Balance of each such REMIC II Regular Interest remains equal to 0.1% of the holders aggregate Scheduled Principal Balance of the Loans in the related Loan Group; and third, any remaining principal in each Loan Group to REMIC II Regular Interest LT-ZZZ. Interest shall be payable to each REMIC II Regular Interest at the related Uncertificated REMIC II Pass-Through Rate on each such REMIC II Regular Interest’s Uncertificated Principal Balance. Any remaining amount to the Class R Certificates (in with respect to Component R-2). REMIC II Regular Interest LT-P1 and REMIC II Regular Interest LT-P2 shall be entitled to 100% of the Class R-1 Interest)amounts distributed on REMIC I Regular Interest LT-P1 and REMIC I Regular Interest LT-P2, as respectively. Distributions of principal from the case may be: first, Loans shall be deemed to be made to the extent of Available Funds, to Holders of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTI-A1, REMIC 1 Regular Interest LTI-A2, REMIC 1 Regular Interest LTII-A1, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4, REMIC 1 Regular Interest LTB5, REMIC 1 Regular Interest LTZZ and REMIC 1 Regular Interest LTP, pro rata, in an amount equal to (A) the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 1 Regular Interest LTZZ shall be reduced and deferred when the REMIC 1 Overcollateralization Amount is less than the REMIC 1 Overcollateralization Target Amount, by the lesser of (x) the amount of such difference and (y) the Maximum Uncertificated Accrued Interest Deferral Amount and such amount will be payable to the Holders of REMIC 1 Regular Interest LTI-A1, REMIC 1 Regular Interest LTI-A2, REMIC 1 Regular Interest LTII-A1, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4 and REMIC 1 Regular Interest LTB5 in the same proportion as the Overcollaterization Deficiency Amount is allocated to the Corresponding Certificates and the Uncertificated Principal Balance of the REMIC 1 Regular Interest LTZZ shall be increased by such amount; and second, to the Holders of REMIC 1 III Regular Interests, in an amount equal each case from the related Loan Group, first, to REMIC III Regular Interest LT-IA1, REMIC III Regular Interest LT-IA2, REMIC III Regular Interest LT-IIA1, REMIC III Regular Interest LT-IIA2, REMIC III Regular Interest LT-IIIA1, REMIC III Regular Interest LT-IIIA2, REMIC III Regular Interest LT-IVA1, REMIC III Regular Interest LT-IVA2, REMIC III Regular Interest LT-VA1, REMIC III Regular Interest LT-VA2, REMIC III Regular Interest LT-VIA1, REMIC III Regular Interest LT-VIA2, REMIC III Regular Interest LT-VIIA1, REMIC III Regular Interest LT-VIIA2, REMIC III Regular Interest LT-R, REMIC III Regular Interest LT-M, REMIC III Regular Interest LT-B1, REMIC III Regular Interest LT-B2, REMIC III Regular Interest LT-B3, REMIC III Regular Interest LT-B4 and REMIC III Regular Interest LT-B5 in the same manner and priority as such distributions are made to the remainder Corresponding Certificates. Interest shall be payable to each REMIC III Regular Interest at the related Uncertificated REMIC III Pass-Through Rate on each such REMIC III Regular Interest’s Uncertificated Principal Balance. Any remaining amount to the Class R Certificates (with respect to Component R-3). REMIC III Regular Interest LT-P1 and REMIC III Regular Interest LT-P2 shall be entitled to 100% of the Available Funds for such Distribution Date after the distributions made pursuant to clause (i) aboveamounts distributed on REMIC II Regular Interest LT-P1 and REMIC II Regular Interest LT-P2, allocated as follows:respectively.

Distributions on the REMIC Regular Interests. (a) On each Distribution Date, Distributions of principal from the Trustee shall cause in the following order of priority, the following amounts which Loans shall be deemed to be distributed by made to the REMIC 1 I Regular Interests, in each case from the related Loan Group, first, to REMIC 2 I Regular Interest LT-1B and REMIC I Regular Interest LT-2B until the Uncertificated Principal Balance of REMIC I Regular Interest LT-1B and REMIC I Regular Interest LT-2B is reduced to zero; second, to REMIC I Regular Interest LT-1PF and REMIC I Regular Interest LT-2PF, until the Uncertificated Principal Balance of REMIC I Regular Interest LT-1PF and REMIC I Regular Interest LT-2PF is reduced to zero. Interest shall be payable to each REMIC I Regular Interest at the related Uncertificated REMIC I Pass-Through Rate on account of the each such REMIC 1 I Regular Interests or withdrawn from the Distribution Account and distributed Interest’s Uncertificated Principal Balance. Any remaining amount to the holders of the Class R Certificates (with respect to Component R-1). Distributions of principal from the Loans shall be deemed to be made to the REMIC II Regular Interests, in respect of each case from the Class R-1 Interest)related Loan Group, as the case may be: first, to the extent of Available Funds, to Holders of REMIC 1 II Regular Interest LTAA, LT-1SUB and REMIC 1 II Regular Interest LTI-A1LT-2SUB, as applicable, so that the Uncertificated Principal Balance of each such REMIC 1 II Regular Interest LTI-A2, REMIC 1 Regular Interest LTII-A1, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4, REMIC 1 Regular Interest LTB5, REMIC 1 Regular Interest LTZZ and REMIC 1 Regular Interest LTP, pro rata, in an amount is equal to (A) 0.1% of the Uncertificated Accrued Interest for such Distribution Date, plus (B) any amounts in respect thereof remaining unpaid from previous Distribution Dates. Amounts payable as Uncertificated Accrued Interest in respect of REMIC 1 Regular Interest LTZZ shall be reduced and deferred when the REMIC 1 Overcollateralization Amount is less than the REMIC 1 Overcollateralization Target Amount, by the lesser excess of (x) the amount aggregate Scheduled Principal Balance of such difference and the Loans in the related Loan Group over (y) the Maximum Uncertificated Accrued Interest Deferral Amount current Certificate Principal Balance of the related Senior Certificates (other than the Class I-A-IO Certificates and Class II-A-IO Certificates) (except that if any such excess is a larger number than in the preceding distribution period, the least amount will of principal shall be payable distributed to such REMIC II Regular Interests such that the Holders of REMIC 1 II Subordinated Balance Ratio is maintained); second, to REMIC II Regular Interest LTI-A1, LT-1GRP and REMIC 1 II Regular Interest LTI-A2LT-2GRP, REMIC 1 Regular Interest LTII-A1as applicable, REMIC 1 Regular Interest LTII-A2, REMIC 1 Regular Interest LTII-A3, REMIC 1 Regular Interest LTM1, REMIC 1 Regular Interest LTM2, REMIC 1 Regular Interest LTM3, REMIC 1 Regular Interest LTM4, REMIC 1 Regular Interest LTM5, REMIC 1 Regular Interest LTM6, REMIC 1 Regular Interest LTM7, REMIC 1 Regular Interest LTM8, REMIC 1 Regular Interest LTM9, REMIC 1 Regular Interest LTB1, REMIC 1 Regular Interest LTB2, REMIC 1 Regular Interest LTB3, REMIC 1 Regular Interest LTB4 and REMIC 1 Regular Interest LTB5 in the same proportion as the Overcollaterization Deficiency Amount is allocated to the Corresponding Certificates and so that the Uncertificated Principal Balance of each such REMIC II Regular Interest remains equal to 0.1% of the aggregate Scheduled Principal Balance of the Loans in the related Loan Group; and third, any remaining principal in each Loan Group to REMIC II Regular Interest LT-ZZZ. Interest shall be payable to each REMIC II Regular Interest at the related Uncertificated REMIC II Pass-Through Rate on each such REMIC II Regular Interest’s Uncertificated Principal Balance. Any remaining amount to the Class R Certificates (with respect to Component R-2). Distributions of principal from the Loans shall be deemed to be made to the REMIC 1 Regular Interest LTZZ shall be increased by such amount; and second, to the Holders of REMIC 1 III Regular Interests, in an amount equal each case from the related Loan Group, first, to REMIC III Regular Interest LT-IA1, REMIC III Regular Interest LT-IA2, REMIC III Regular Interest LT-IIA1, REMIC III Regular Interest LT-IIA2, REMIC III Regular Interest LT-IIA3, REMIC III Regular Interest LT-R, REMIC III Regular Interest LT-M, REMIC III Regular Interest LT-B1, REMIC III Regular Interest LT-B2, REMIC III Regular Interest LT-B3, REMIC III Regular Interest LT-B4 and REMIC III Regular Interest LT-B5 in the same manner and priority as such distributions are made to the remainder of Corresponding Certificates. Interest shall be payable to each REMIC III Regular Interest at the Available Funds for related Uncertificated REMIC III Pass-Through Rate on each such Distribution Date after REMIC III Regular Interest’s Uncertificated Principal Balance. Any remaining amount to the distributions made pursuant Class R Certificates (with respect to clause (i) above, allocated as follows:Component R-3).