Common use of Distributions Statements Clause in Contracts

Distributions Statements. On each Distribution Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in each Distribution Account on any Distribution Date or Redemption Date shall be withdrawn from such Distribution Account, in the amounts required (based solely on the Servicer's Remittance Report delivered to the Indenture Trustee on or before such Distribution Date), for application on such Distribution Date in respect of payments relating to the applicable Pool of Mortgage Loans and the related Class of Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to it with respect to the related Class of Notes; (ii) from amounts then on deposit in the related Distribution Account (excluding any Insured Payments), to the Note Insurer, the lesser of (x) the excess of (i) the amount then on deposit in such Distribution Account over (ii) the Insured Distribution Amount for such Pool on such Distribution Date and (y) the sum of the amount of all Reimbursement Amounts relating to such Class of Notes which have not been previously paid as of such Distribution Date and any other amounts relating to such Class then due to the Note Insurer pursuant to the Insurance Agreement; (iii) from amounts then on deposit in the related Distribution Account, to the Holders of the related Class of Notes, the Distribution Amount for such Class; (iv) from amounts then on deposit in the related Distribution Account, to the Holders of the related Class of Notes, the amount of any Net Mortgage Loan Interest Shortfalls for such Class; (v) from amounts then on deposit in the related Distribution Account, to the Cross-collateralization Reserve Account relating to the other Class of Notes, the Reserve Payment Amount for such Class; (vi) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the related Distribution Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Distribution Date, if any.

Distributions Statements. On each Distribution Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in each Distribution Account on any Distribution Date or Redemption Date shall be withdrawn from such Distribution Account, in the amounts required (based solely on the Servicer's Remittance Report delivered to the Indenture Trustee on or before such Distribution Date), for application on such Distribution Date in respect of payments relating to the applicable Pool of Mortgage Loans and the related Class of Notes as follows: (i) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to it with respect to the related Class of Notes; (ii) from amounts then on deposit in the related Distribution Account (excluding any Insured Payments), to the Note Insurer, the lesser of (x) the excess of (i) the amount then on deposit in such Distribution Account over (ii) the Insured Distribution Amount for such Pool on such Distribution Date and (y) the sum of the amount of all Reimbursement Amounts relating to such Class of Notes which have not been previously paid as of such Distribution Date and any other amounts relating to such Class then due to the Note Insurer pursuant to the Insurance Agreement; (iii) from amounts then on deposit in the related Distribution Account, to the Holders of the related Class of Notes, the Distribution Amount for such Class; (iv) from amounts then on deposit in the related Distribution Account, to the Holders of the related Class of Notes, the amount of any Net Mortgage Loan Interest Shortfalls for such Class; (v) from amounts then on deposit in the related Distribution Account, to the Cross-collateralization Reserve Account relating to the other Class of Notes, the Reserve Payment Amount for such Class; (vi) with respect to the Class A-2 Notes, from amounts then on deposit in the Distribution Account relating to the Class A-2 Notes, to the Holders of the Class A-2 Notes, the Class A-2 Available Funds Cap Carry-Forward Amount; (vii) with respect to the Class A-2 Notes, from amounts then on deposit in the Distribution Account relating to the Class A-1 Notes, to the Holders of the Class A-2 Notes, up to the Interest Coverage Amount for such Distribution Date, any remaining Class A-2 Available Funds Cap Carry-Forward Amount; (viii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the related Distribution Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Distribution Date, if any.

Distributions Statements. On each Distribution Date, unless the Notes have been declared due and payable pursuant to Section 5.02 hereof and moneys collected by the Indenture Trustee are being applied in accordance with Section 5.07 hereof, Available Funds on deposit in each Distribution Account on any Distribution Date or Redemption Date shall be withdrawn from such Distribution Account, in the amounts required (based solely on the Servicer's Remittance Report delivered to the Indenture Trustee on or before such Distribution Date), for application on such Distribution Date in respect of payments relating to the applicable Pool of Mortgage Loans and the related Class of Notes as follows: (i) (A) to the Indenture Trustee, an amount equal to the Indenture Trustee Fees then due to it with respect to the related Class of Notes; and (B) to the Collateral Agent, an amount equal to the fees then due to it with respect to the related Class of Notes; (ii) from amounts then on deposit in the related Distribution Account (excluding any Insured Payments), ) to the Note Insurer, Insurer the lesser of (x) the excess of (i) the amount then on deposit in such Distribution Account over (ii) the Insured Distribution Amount for such Pool on such Distribution Date and (y) the sum of the amount of all Reimbursement Amounts relating to such Class of Notes which have not been previously paid as of such Distribution Date and any other amounts relating to such Class then due to the Note Insurer pursuant to the Insurance Agreement; (iii) from amounts then on deposit in the related Distribution Account, to the Holders of the related Class of Notes, the Distribution Amount for such Class; (iv) with respect to the Class A-1 Notes, from amounts then on deposit in the related Distribution AccountAccount relating to the Class A-1 Notes, to the Holders of the related Class of A-1 Notes, the amount of any Net Class A-1 Mortgage Loan Interest Shortfalls for such ClassShortfall Amount; (v) from amounts then on deposit in the related Distribution Account, to the Cross-collateralization Reserve Account relating to the other Class of Notes, the Reserve Payment Amount for such Class; (vi) with respect to the Class A-2 Notes, from amounts then on deposit in the Distribution Account relating to the Class A-2 Notes, to the Holders of the Class A-2 Notes, the Class A-2 Available Funds Cap Carry-Forward Amount; (vii) following the making by the Indenture Trustee of all allocations, transfers and disbursements described above, from amounts then on deposit in the related Distribution Account, the Indenture Trustee shall distribute to the Holders of the related Trust Certificates, the amount remaining on such Distribution Date, if any.