Common use of Distributions to Issuer Clause in Contracts

Distributions to Issuer. On each Payment Date, based on the information in the Servicing Certificate for the Payment Date and subject to Section 8.03(a),(b), and (c), the Indenture Trustee shall distribute to the Issuer from amounts in the Payment Account (i) the Interest Collections for each Loan Group that are not Investor Interest Collections on the Payment Date for the related Collection Period and (ii) the portion of Transferor Principal Collections for each Loan Group for the related Collection Period in excess of Additional Balances created on the Mortgage Loans in that Loan Group during the Collection Period. Collections allocable to the Transferor Certificates pursuant to this Section 8.03(e) will be distributed to the Issuer only to the extent that the distribution will not reduce the applicable Allocated Transferor Interest as of the related Payment Date below the related Required Transferor Subordinated Amount. Amounts not distributed to the Issuer because of this limitation will be retained in the Payment Account until the applicable Allocated Transferor Interest exceeds the related Required Transferor Subordinated Amount, at which time the excess shall be released to the Issuer. If any such amounts are still retained in the Payment Account at the commencement of the Rapid Amortization Period or are collected thereafter, they will be paid to the related Noteholders as a reduction of the applicable Note Principal Balance.

Distributions to Issuer. On each Payment Date, based on the information in the Servicing Certificate for the Payment Date and subject to Section 8.03(a),(b), and (c), the Indenture Trustee shall distribute to the Issuer from amounts in the Payment Account (i) the Interest Collections for each Loan Group that are not Investor Interest Collections on the Payment Date for the related Collection Period and are not paid out as Subordinated Transferor Collections under Section 8.03(c) and (ii) the portion of Transferor Principal Collections for each Loan Group for the related Collection Period in excess of Additional Balances created on the Mortgage Loans in that Loan Group during the Collection PeriodPeriod and are not paid out as Subordinated Transferor Collections under Section 8.03(c). For the purposes of this Section 8.03(e), payments of Subordinated Transferor Collections under Section 8.03(c) shall be considered to be made first from Interest Collections until they are reduced to zero, and then from Principal Collections. Collections allocable to the Transferor Certificates Issuer pursuant to this Section 8.03(e) will be distributed to the Issuer only to the extent that the distribution will not reduce the applicable Allocated Transferor Interest as of the related Payment Date below the related Required Transferor Subordinated Amount. Amounts not distributed to the Issuer because of this limitation will be retained in the Payment Account until the applicable Allocated Transferor Interest exceeds the related Required Transferor Subordinated Amount, at which time the excess shall be released to the Issuer. If any such amounts are still retained in the Payment Account at the commencement of the Rapid Amortization Period or are collected thereafter, they will be paid to the related Noteholders as a reduction of the applicable Note Principal Balance.

Distributions to Issuer. On each Payment Date, based on the information in the Servicing Certificate for the Payment Date and subject to Section 8.03(a),(b), and (c), the Indenture Trustee shall distribute to the Issuer from amounts in the Payment Account (i) the Interest Collections for each Loan Group that are not Investor Interest Collections on the Payment Date for the related Collection Period and are not paid out as Subordinated Transferor Collections under Section 8.03(c) and (ii) the portion of Transferor Principal Collections for each Loan Group for the related Collection Period in excess of Additional Balances created on the Mortgage Loans in that Loan Group during the Collection PeriodPeriod and are not paid out as Subordinated Transferor Collections under Section 8.03(c). For the purposes of this Section 8.03(e), payments of Subordinated Transferor Collections under Section 8.03(c) shall be considered to be made first from Interest Collections until they are reduced to zero, and then from Principal Collections. Collections allocable to the Transferor Certificates Issuer pursuant to this Section 8.03(e) will be distributed to the Issuer only to the extent that the distribution will not reduce the applicable Allocated Transferor Interest as of the related Payment Date below the related Required Transferor Subordinated Amount. Amounts not distributed to the Issuer because of this limitation will be retained in the Payment Account until the applicable Allocated Transferor Interest exceeds the related Required Transferor Subordinated Amount, at which time the excess shall be released to the Issuer. If any such amounts are still retained in the Payment Account at the commencement of the Rapid Amortization Period or are collected thereafter, they will be paid to the related Noteholders as a reduction of the applicable Note Principal Balance.

Distributions to Issuer. On each Payment Date, based on the information in the Servicing Certificate for the Payment Date and subject to Section 8.03(a),(b), and (c), the Indenture Trustee shall distribute to the Issuer from amounts in the Payment Account Account (i) the Interest Collections for each Loan Group that are not Investor Interest Collections on the Payment Date for the related Collection Period and and (ii) the portion of Transferor Principal Collections for each Loan Group for the related Collection Period in excess of Additional Balances created on the Mortgage Loans in that Loan Group during the Collection Period. Collections allocable to the Transferor Certificates pursuant to this Section 8.03(e) will be distributed to the Issuer only to the extent that the distribution will not reduce the applicable Allocated Transferor Interest excess of the Adjusted Loan Group Balance of a Loan Group over the Note Principal Balance of the related Class of Notes as of the related Payment Date below the related Required Minimum Transferor Subordinated AmountInterest. Amounts not distributed to the Issuer because of this limitation will be retained in the Payment Account until the applicable Allocated Transferor Interest excess of the Adjusted Loan Group Balance of that Loan Group over the Note Principal Balance of the related Class of Notes exceeds the related Required Minimum Transferor Subordinated AmountInterest, at which time the excess shall be released to the Issuer. If any such amounts are still retained in the Payment Account at the commencement of the Rapid Amortization Period or are collected thereafter, they will be paid to the related Noteholders as a reduction of the applicable Note Principal Balance.