Interest Distributions. Section 4.02 Distributions of Principal and Monthly Excess Cashflow Amounts. Section 4.03
Interest Distributions. On each Distribution Date, the Interest Remittance Amount will be distributed in the following order of priority until such amounts have been fully distributed:
(i) first, to the Servicer, the Servicing Fee, to the extent such amounts were not previously retained by the Servicer;
(ii) second, to the Trustee, the Trustee Fee;
(iii) third, to the Back-up Servicer, the Back-up Servicing Fee and amounts owing to the Back-up Servicer in connection with the transfer of servicing after the resignation or removal of the Servicer, in an amount not to exceed $200,000 in the aggregate;
(iv) fourth, to each Class of the Senior Certificates, the Class Monthly Interest Amount and any Class Interest Carryover Shortfall for such Class on that Distribution Date; provided, however, that if the Interest Remittance Amount is not sufficient to make a full distribution of the Class Monthly Interest Amount and Class Interest Carryover Shortfall with respect to each Class of Senior Certificates, the Interest Remittance Amount will be distributed pro rata among each Class of the Senior Certificates based on the ratio of the Class Monthly Interest Amount and Class Interest Carryover Shortfall for such Class to the total amount of Class Monthly Interest Amount and any Class Interest Carryover Shortfall for the Senior Certificates;
(v) fifth, to the Class M-1 Certificates, the Class Monthly Interest Amount for such Class and Distribution Date;
(vi) sixth, to the Class M-2 Certificates, the Class Monthly Interest Amount for such Class and Distribution Date;
(vii) seventh, to the Class B Certificates, the Class Monthly Interest Amount for such Class and Distribution Date; and
(viii) eighth, any remainder will be treated as Excess Interest.
Interest Distributions. On each Distribution Date, the Securities Administrator shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Securities Administrator may conclusively rely), and the calculations required to be made by the Securities Administrator, to the extent available:
(i) to the Credit Risk Manager, the Credit Risk Manager Fee for such Distribution Date;
(ii) concurrently, as follows:
(A) concurrently, from the Group I Interest Remittance Amount, to the Class AI-1A, Class AI-1B, Class AI-2, Class AI-3, Class AI-4, Class AI-5, Class AI-6, Class AI-7, Class AI-8 and Class AI-9 Certificates, pro rata (based on the Accrued Certificate Interest for each such Class), the applicable Accrued Certificate Interest thereon for such Distribution Date;
(B) concurrently, from the Group II Interest Remittance Amount, to the Class AII-1A and Class AII-1B Certificates, pro rata (based on the Accrued Certificate Interest for each such Class), the applicable Accrued Certificate Interest thereon for such Distribution Date; and
(C) concurrently, from the Group III Interest Remittance Amount, to the Class AIII-1, Class AIII-2 and Class AIII-3 Certificates, pro rata (based on the Accrued Certificate Interest for each such Class), the Accrued Certificate Interest thereon for such Distribution Date;
(iii) concurrently, as follows:
(A) concurrently, from the Group I Interest Remittance Amount, to the Class AI-1A, Class AI-1B, Class AI-2, Class AI-3, Class AI-4, Class AI-5, Class AI-6, Class AI-7, Class AI-8 and Class AI-9 Certificates, pro rata (based on the Interest Carry Forward Amount for each such Class), the applicable Interest Carry Forward Amount thereon for such Distribution Date;
(B) concurrently, from the Group II Interest Remittance Amount, to the Class AII-1A and Class AII-1B Certificates, pro rata (based on the Interest Carry Forward Amount for each such Class), the Interest Carry Forward Amount thereon for such Distribution Date; and
(C) concurrently, from the Group III Interest Remittance Amount, to the Class AIII-1, Class AIII-2 and Class AIII-3 Certificates, pro rata (based on the Interest Carry Forward Amount for each such Class), the Interest Carry Forward Amount thereon for such Distribution Date;
(iv) concurrently, as follows:
(A) from the Group I Interest Remittance Amount, to the Class AII and the Class A...
Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Loan information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available:
(i) to the Credit Risk Manager, the Credit Risk Manager Fee for such Distribution Date;
(ii) concurrently, as follows:
(a) from the Group 1 Interest Remittance Amount, to the Class A-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date;
(b) from the Group 2 Interest Remittance Amount, to the Class A-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and
(c) concurrently, from the Group 3 Interest Remittance Amount, to the Class A-3A, Class A-3B and Class A-3C Certificates, pro rata based on the Accrued Certificate Interest for each such Class, the applicable Accrued Certificate Interest thereon for such Distribution Date;
(iii) concurrently, as follows:
(a) from the Group 1 Interest Remittance Amount, to the Class A-1 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date;
(b) from the Group 2 Interest Remittance Amount, to the Class A-2 Certificates, the Interest Carry Forward Amount thereon for such Distribution Date; and
(c) concurrently, from the Group 3 Interest Remittance Amount, to the Class A-3A, Class A-3B and Class A-3C Certificates, pro rata based on the Interest Carry Forward Amount for each such Class, the applicable Interest Carry Forward Amount thereon for such Distribution Date;
(iv) concurrently, as follows:
(a) if the Group 1 Interest Remittance Amount is insufficient to pay the Class A-1 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(a) above, from the remaining Group 2 Interest Remittance Amount and Group 3 Interest Remittance Amount, to the Class A-1 Certificates, to cover such shortfall for such Distribution Date;
(b) if the Group 2 Interest Remittance Amount is insufficient to pay the Class A-2 Certificates' Accrued Certificate Interest for such Distribution Date pursuant to Section 4.01(ii)(b) above, from the remaining Group 1 Interest Remittance Amount and Group 3 Interest Remittance Amount, to the Class A-2 Certificates, to cover such shortfall for such Distribution Date; and
(c) if the Group 3 Interest Remittance Amount...
Interest Distributions. On each Distribution Date, the Trustee shall withdraw from the Distribution Account the Interest Remittance Amount and apply it in the following order of priority (based upon the Mortgage Asset information provided to it in the Remittance Report, upon which the Trustee may conclusively rely), and the calculations required to be made by the Trustee, to the extent available:
(i) to the Trustee, the Trustee Fee for such Distribution Date;
(ii) concurrently, to the Class A-1 and Class A-2 Certificates, pro rata, the applicable Accrued Certificate Interest thereon for such Distribution Date;
(iii) concurrently, to the Class A-1 and Class A-2 Certificates, pro rata, the applicable Interest Carry Forward Amount thereon for such Distribution Date;
(iv) to the Class M-1 Certificates, the Accrued Certificate Interest thereon for such Distribution Date;
(v) to the Class M-2 Certificates, the Accrued Certificate Interest thereon for such Distribution Date;
(vi) to the Class B Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and
(vii) the amount, if any, of the Interest Remittance Amount remaining after application with respect to the priorities set forth above will be applied as described under Section 4.02(b) hereof.
Interest Distributions. 79 Section 4.02 Distributions of Principal and Monthly Excess Cashflow Amounts ....................................................80 Section 4.03
Interest Distributions. On each Distribution Date (including the Expected Payment Date), Monthly Interest will be distributed to the Series 1997-1 Certificateholders as accrued interest on the 1997-1 Certificates. To the extent any interest is due but not distributed on any such Distribution Date, such amount will be distributed on the following Distribution Date, along with, to the extent permitted by law, interest at the Certificate Rate on such amount.
Interest Distributions. Distributions of Principal and Monthly Excess Cashflow Amounts.
Interest Distributions. (A) On each Distribution Date, the Trustee shall withdraw the Group I Interest Remittance Amount for such Distribution Date from the Distribution Account and make the following distributions in respect of interest in the following order of priority:
(i) to the Holders of the Group I Certificates, the Class A Interest Distribution Amount related to such Certificates for such Distribution Date; and
(ii) concurrently, to the Holders of each Class of Group II Certificates, on a pro rata basis based on the entitlement of each such Class, the Class A Interest Distribution Amount for each such Class, remaining undistributed after the distribution of the Group II Interest Remittance Amount as set forth in Section 4.01(b)(II)(B)(i) below.
(B) On each Distribution Date, the Trustee shall withdraw the Group II Interest Remittance Amount for such Distribution Date from the Distribution Account and make the following distributions in respect of interest in the following order of priority:
(i) concurrently, to the Holders of each Class of Group II Certificates, on a pro rata basis based on the entitlement of each such Class, the Class A Interest Distribution Amount related to such Certificates for such Distribution Date; and
(ii) to the Holders of the Group I Certificates, the Class A Interest Distribution Amount related to such Certificates remaining undistributed after the distribution of the Group I Interest Remittance Amount as set forth in Section 4.01(b)(II)(A)(i) above.
(C) On each Distribution Date, following the distributions made pursuant to Section 4.01(b)(II)(A) and (B) above, the Trustee shall withdraw from the Distribution Account an amount equal to any remaining Group I Interest Remittance Amount and Group II Interest Remittance Amount and shall distribute such amount sequentially to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class B-1, Class B-2, Class B-3, Class B-4 and Class B-5 Certificates, in that order, in an amount equal to the Interest Distribution Amount for each such Class.
Interest Distributions. On each Payment Date (including the Expected Principal Payment Date), amounts on deposit in the Series 2010-1 Interest Funding Account shall be distributed in the following manner, first, to the Class A Noteholders, accrued and unpaid interest on the Class A Notes for that Payment Date, second, to the Class B Noteholders, accrued and unpaid interest on the Class B Notes for that Payment Date, and third, to the Class C Noteholders, accrued and unpaid interest on the Class C Notes for that Payment Date. If there is a shortfall in the amounts required to be distributed pursuant to the preceding clauses first, second or third, then the amounts actually distributed pursuant to any such clause shall be shared among the Persons entitled thereto in proportion to the amounts owing such Persons.
