Common use of Fannie Mae Guaranty Clause in Contracts

Fannie Mae Guaranty. On each Distribution Date following rxxxxxx of a statement (as set forth in Section 4.05) that indicates a Deficiency Amount for such Distribution Date, the Guarantor shall distribute a Guarantor Payment in an aggregate amount equal to the Deficiency Amount for such Distribution Date directly to the Holders of the Guaranteed Certificates, without first depositing such amount in the Distribution Account, as follows: (i) the Guaranteed Interest Distribution Amount shall be distributed as interest with respect to the applicable Class of Class 1-A and Class 2-A Certificates as applicable, as provided in Section 4.04(a)(i); and (ii) the Guaranteed Principal Distribution Amount shall be distributed as principal with respect to the applicable Class of Class 1-A and Class 2-A Certificates, as provided in Section 4.04(b)(i)(A) or Section 4.04(b)(ii)(A), as applicable.

Fannie Mae Guaranty. On each Distribution Date following rxxxxxx receipt of a statement (as set forth in Section 4.05) that indicates a Deficiency Amount for such Distribution Date, the Guarantor shall distribute a Guarantor Payment in an aggregate amount equal to the Deficiency Amount for such Distribution Date directly to the Holders of the Guaranteed Certificates, without first depositing such amount in the Distribution Account, as follows: (i) the Class 1-AV-1 Guaranteed Interest Distribution Amount shall be distributed as interest with respect to the applicable Class of Class 1-A and Class 2-A Certificates as applicableGuaranteed Certificates, as provided in Section 4.04(a)(i4.04(b)(i); and (ii) the Class 1-AV-1 Guaranteed Principal Distribution Amount shall be distributed as principal with respect to the applicable Class of Class 1-A and Class 2-A Guaranteed Certificates, as provided in Section 4.04(b)(i)(A4.04(d)(1)(A)(i) or Section 4.04(b)(ii)(A4.04(d)(2)(A)(i), as applicable.

Fannie Mae Guaranty. On each Ox xxxx Distribution Date following rxxxxxx receipt of a statement (as set forth in Section 4.05) that indicates a Deficiency Amount for such Distribution Date, the Guarantor shall distribute a Guarantor Payment in an aggregate amount equal to the Deficiency Amount for such Distribution Date directly to the Holders of the Guaranteed Certificates, without first depositing such amount in the Distribution Account, as follows: (i) the Guaranteed Interest Distribution Amount shall be distributed as interest with respect to the applicable Class of Class 1-A and Class 2-A Certificates as applicable, as provided in Section 4.04(a)(i); and (ii) the Guaranteed Principal Distribution Amount shall be distributed as principal with respect to the applicable Class of Class 1-A and Class 2-A Certificates, as provided in Section 4.04(b)(i)(A) or Section 4.04(b)(ii)(A), as applicable.

Fannie Mae Guaranty. On each xxxx Distribution Date following rxxxxxx receipt of a statement (as set forth in Section 4.054.06) that indicates a Deficiency Amount for such Distribution Date, the Guarantor shall distribute a Guarantor Payment in an aggregate amount equal to the Deficiency Amount for such Distribution Date directly to the Holders of the Guaranteed Certificates, without first depositing such amount in the Distribution Account, as follows: (i) the Guaranteed Interest Distribution Amount shall be distributed as interest with respect to the applicable Class of Class 1-A and Class 2-A Certificates as applicableGuaranteed Certificates, as provided in Section 4.04(a)(i4.02(a)(ii); and (ii) the Guaranteed Principal Distribution Amount shall be distributed as principal with respect to the applicable Class of Class 1-A and Class 2-A Guaranteed Certificates, as provided in Section 4.04(b)(i)(A) or Section 4.04(b)(ii)(A4.02(a)(iv), as applicable.