Common use of Excess Interest Clause in Contracts

Excess Interest. On each Distribution Date, Excess Interest will be distributed in the following order of priority until fully distributed: (i) an amount equal to the Overcollateralization Increase Amount, to be applied as part of the Principal Distribution Amount pursuant to paragraph (b) above; (ii) to the Class M-1 Certificates, the Class Interest Carryover Shortfall for such Class; (iii) to the Class M-1 Certificates, the Class Principal Carryover Shortfall for such Class; (iv) to the Class M-2 Certificates, the Class Interest Carryover Shortfall for such Class; (v) to the Class M-2 Certificates, the Class Principal Carryover Shortfall for such Class; (vi) to the Class B Certificates, the Class Interest Carryover Shortfall for such Class; (vii) to the Class B Certificates, the Class Principal Carryover Shortfall for such Class; (viii) to the Supplemental Interest Payment Account, as a distribution to the Holders of the Class X Certificates, the lesser of (x) the Class X Distribution Amount and (y) the WAC Excess: (ix) to the Trustee, to the extent not previously paid, an amount equal to the sum of all reimbursable expenses incurred in connection with its duties and obligations under this Agreement and for any indemnity amounts payable to the Trustee under this Agreement; (x) to the Back-up Servicer, to the extent not paid pursuant to Section 6.05(a), any amounts owing to the Back-up Servicer in connection with the transfer of servicing after the resignation or removal of the Servicer; (xi) to the Servicer to the extent of any unreimbursed Servicing Advances; (xii) to the Class X Certificates, the Class X Distribution Amount less any amounts thereof applied pursuant to clauses (viii), (ix), (x) and (xi) above; and (xiii) to the Class R Certificates, any remaining amount.

Excess Interest. On each Distribution Date, Excess Interest will be distributed in the following order of priority until fully distributed: (i) an amount equal to the Overcollateralization Increase Amount, to be applied as part of the Principal Distribution Amount pursuant to paragraph (b) above; (ii) to the Class M-1 Certificates, the Class Interest Carryover Shortfall for such Class; (iii) to the Class M-1 Certificates, the Class Principal Carryover Shortfall for such Class; (iv) to the Class M-2 Certificates, the Class Interest Carryover Shortfall for such Class; (v) to the Class M-2 Certificates, the Class Principal Carryover Shortfall for such Class; (vi) to the Class B Certificates, the Class Interest Carryover Shortfall for such Class; (vii) to the Class B Certificates, the Class Principal Carryover Shortfall for such Class; (viii) to the Supplemental Interest Payment Account, as a distribution to the Holders of the Class X Certificates, the lesser of (x) the Class X Distribution Amount and (y) the WAC Excess: (ix) to the Trustee, to the extent not previously paid, an amount equal to the sum of Trustee as reimbursement for all reimbursable expenses incurred in connection with its duties and obligations under this Agreement and for any indemnity amounts payable to the Trustee under this Agreementextent not paid; (x) to the Back-up Servicer, to the extent not paid pursuant to Section 6.05(a), any amounts owing to the Back-up Servicer in connection with the transfer of servicing after the resignation or removal of the Servicer; (xi) to the Servicer to the extent of any unreimbursed Servicing Advances; (xiixi) to the Class X Certificates, the Class X Distribution Amount less any amounts thereof applied pursuant to clauses (viii), (ix), (x) and (xix) above; and (xiiixii) to the Class R Certificates, any the remaining amount.