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

Distributions on the Uncertificated REMIC I Regular Interests. (a) On each Distribution Date the Trustee shall be deemed to distribute to itself, as the holder of the Uncertificated REMIC I Regular Interests, the REMIC I Distribution Amount in the amounts and with the priorities set forth in the definition thereof. (b) Notwithstanding the deemed distributions on the Uncertificated REMIC I Regular Interests described in this Section 10.04, distributions of funds from the Certificate Account shall be made only in accordance with Section 4.02.