Common use of Payments from the Collection Account Clause in Contracts

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) pro rata, to the Class 1-A1 Notes and the Class 1-A2 Notes, Current Interest thereon for such Payment Date; (ii) to the Class 2-A Notes, Current Interest thereon (after giving effect to the payment of Interest Funds for Group 2) for such Payment Date; and (iii) sequentially, pursuant to clause (d) below. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class 2-A Notes, Current Interest thereon for such Payment Date; (ii) pro rata, to the Class 1-A1 Notes and the Class 1-A2 Notes, Current Interest thereon (after giving effect to the payment of Interest Funds for Group 1) for such Payment Date; and (iii) sequentially, pursuant to clause (d) below. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for both Group 1 and Group 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (viii) above. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) pro ratato the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the unpaid Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is the defaulting party or an affected party under the terms of the Swap Agreement (after giving effect to payments of Interest Funds pursuant to Section 6.02(c)); (iii) to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon for such Payment Date; (iiiv) pro rata, to the Class 2-A A1 Notes, the Class 2-A2 Notes and the Class 2-A3 Notes, Current Interest thereon (after giving effect to payments of the payment of Interest Funds for Group 2pursuant to Section 6.02(c)) for such Payment Date; and (iiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds remaining undistributed for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the unpaid Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Issuing Entity is the defaulting party or an affected party under the terms of the Swap Agreement (after giving effect to payments of Interest Funds pursuant to Section 6.02(b)); (iii) pro rata, to the Class 2-A A1 Notes, the Class 2-A2 Notes and the Class 2-A3 Notes, Current Interest thereon for such Payment Date; (iiiv) pro rata, to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon (after giving effect to payments of the payment of Interest Funds for Group 1pursuant to Section 6.02(b)) for such Payment Date; and (iiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds remaining undistributed for such Payment Date. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the aggregate of any remaining Interest Funds for both from Group 1 and Group 2 from Section 6.02(b)(iii) and Section 6.02(c)(iv), respectively, for such date after payments under clause (b) and clause (c) above Payment Date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class Class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class Class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class Class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class Class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class Class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class Class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class Class for such Payment Date; (viii) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xi) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the SubservicerServicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement;; and (ixxii) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, Section any Interest Funds remaining after application pursuant to clauses (i) through (viii) aboveundistributed for such Payment Date. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds Remittance Amount for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 1-A1 A Notes and the Class 1A-A2 NotesIO(1) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A A1 Notes, Class 2-A2 Notes, Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group 2) for such Payment Date; and (iiiiv) sequentially, pursuant to clause (d) below. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds Remittance Amount for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 2-A A1 Notes, Class 2-A2 Notes, Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 A Notes and the Class 1A-A2 NotesIO(1) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group 1) for such Payment Date; and (iiiiv) sequentially, pursuant to clause (d) below. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for both Group 1 and Group 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (viii) above. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds Remittance Amount for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 1-A1 Notes and the Class 1-A2 NotesNotes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A NotesA1, Class 2-A2 and Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group 2) for such Payment Date; (iv) sequentially, to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9 and Class M10 Notes, in that order, Current Interest for each such Class for such Payment Date; (v) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Sub-Servicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (iiivi) sequentiallyfor application as part of Monthly Excess Cashflow for such Payment Date, pursuant to clause as provided in subsection (de) belowof this Section, any Group 1 Monthly Excess Interest for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds Remittance Amount for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to Class 2-A NotesA1, Class 2-A2 and Class 2-A3 Notes and the A-IO(2) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 Notes and the Class 1-A2 NotesNotes and the A-IO(1) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds Remittance Amount for Group 1) for such Payment Date; (iv) sequentially, to the Class M1, Class M2, Class M3, Class M4, Class M5, Class M6, Class M7, Class M8, Class M9 and Class M10 Notes, in that order, Current Interest for each such Class for such Payment Date; (v) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Sub-Servicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; and (iiivi) sequentiallyfor application as part of Monthly Excess Cashflow for such Payment Date, pursuant to clause as provided in subsection (de) belowof this Section, any Group 2 Monthly Excess Interest for such Payment Date. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for both Group 1 and Group 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (viii) above. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Principal Funds Remittance Amount for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: (1) For Group 1: The Principal Payment Amount for Group 1 will be paid in the following order of priority: (A) to the Swap Counterparty, to the extent not previously paid from the Collection Account, swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement;

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) pro ratato the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A A1 Notes, the Class 2-A2 Notes and the Class 2-A3 Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 2) for such Payment Date; and (iiiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds for Group 1 remaining undistributed for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to Class 2-A A1 Notes, Class 2-A2 Notes and Class 2-A3 Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 1) for such Payment Date; and (iiiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds for Group 2 remaining undistributed for such Payment Date. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the aggregate of any remaining Interest Funds for both Group 1 and Group 2 from Section 6.02(b)(iv) and Section 6.02(c)(iv), respectively, for such date after payments under clause (b) and clause (c) above Payment Date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class Class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class Class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class Class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class Class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class Class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class Class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class Class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the SubservicerServicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement;; and (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, Section any Interest Funds for Group 1 and Group 2 remaining after application pursuant to clauses (i) through (viii) aboveundistributed for such Payment Date. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) pro ratato the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A A1 Notes, the Class 2-A2 Notes and the Class 2-A3 Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 2) for such Payment Date; and (iiiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds for Group 1 remaining undistributed for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to Class 2-A A1 Notes, Class 2-A2 Notes and Class 2-A3 Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 1) for such Payment Date; and (iiiiv) sequentially, for application pursuant to clause (d) below. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay any Interest Funds for both Group 1 and Group 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class remaining undistributed for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (viii) above. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay distribute such amount as specified in this Section. All allocations and payments distributions made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay distribute the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 1-A1 A Notes and the Class 1A-A2 NotesIO(1) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A Notes, Class 2-A1 Notes, Class 2-A2 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 2) for such Payment Date; and; (iiiiv) sequentiallyto the Class M1 Notes, Current Interest for such class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such class for such Payment Date; (x) to the Indenture Trustee, the Owner Trustee and the Master Servicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (xi) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (e) of this Section, any Interest Funds remaining after application pursuant to clause clauses (di) belowthrough (x) above. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay distribute the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) pro rata, to the Class 2-A Notes, Class 2-A1 Notes, Class 2-A2 Notes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 A Notes and the Class 1A-A2 NotesIO(1) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 1) for such Payment Date; and; (iiiiv) sequentiallyto the Class M1 Notes, Current Interest for such class for such Payment Date; (v) to the Class M2 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M3 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M4 Notes, Current Interest for such class for such Payment Date; (viii) to the Class M5 Notes, Current Interest for such class for such Payment Date; (ix) to the Class M6 Notes, Current Interest for such class for such Payment Date; (x) to the Indenture Trustee, the Owner Trustee and the Master Servicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (xi) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (e) of this Section, any Interest Funds remaining after application pursuant to clause clauses (di) belowthrough (x) above. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for both Group 1 and Group 2 for such date after payments under clause (b) and clause (c) above in distribute the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (viii) above. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make pay the following payments to the extent of funds then in the Collection Account available thereforPrincipal Payment Amount, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) pro ratato the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 1 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; (ii) to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 2-A A1 Notes, the Class 2-A2 Notes and the Class 2-A3 Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 2) for such Payment Date; and (iiiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds for Group 1 remaining undistributed for such Payment Date. (c) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Swap Counterparty, to the extent not previously paid from the Collection Account, the Group 2 Percentage of any Net Swap Payment for such Payment Date and swap termination amounts payable to the Swap Counterparty in the event that the Trust is a defaulting party or an affected party under the terms of the Swap Agreement; 110 (ii) pro rata, to Class 2-A A1 Notes, Class 2-A2 Notes and Class 2-A3 Notes, Current Interest thereon for such Payment Date; (iiiii) pro rata, to the Class 1-A1 Notes and the Class 1-A2 A Notes, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 1) for such Payment Date; and (iiiiv) sequentially, for application pursuant to clause (d) below, any Interest Funds for Group 2 remaining undistributed for such Payment Date. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the aggregate of any remaining Interest Funds for both Group 1 and Group 2 from Section 6.02(b)(iv) and Section 6.02(c)(iv), respectively, for such date after payments under clause (b) and clause (c) above Payment Date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class M1 Notes, Current Interest for such class Class for such Payment Date; (ii) to the Class M2 Notes, Current Interest for such class Class for such Payment Date; (iii) to the Class M3 Notes, Current Interest for such class Class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class Class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class Class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class Class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class Class for such Payment Date; (viii) to the Class M8 Notes, Current Interest for such Class for such Payment Date; (ix) to the Class M9 Notes, Current Interest for such Class for such Payment Date; (x) to the Class M10 Notes, Current Interest for such Class for such Payment Date; (xi) to the Class M11 Notes, Current Interest for such Class for such Payment Date; 111 (xii) to the Class M12 Notes, Current Interest for such Class for such Payment Date; (xiii) to the Class M13 Notes, Current Interest for such Class for such Payment Date; (xiv) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement;; and (ixxv) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, Section any Interest Funds for Group 1 and Group 2 remaining after application pursuant to clauses (i) through (viii) aboveundistributed for such Payment Date. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently:

Payments from the Collection Account. (a) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall withdraw from the Collection Account the Total Remittance Amount (to the extent such amount is on deposit in the Collection Account) and shall pay such amount as specified in this Section. All allocations and payments made between and with respect to Group 1 and Group 2 in this Section shall be made concurrently. (b) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay the Interest Funds for Group 1 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) pro ratato the Swap Counterparty, to the Class 1-A1 Notes and extent not previously paid from the Class 1-A2 NotesCollection Account, Current Interest thereon the Group 1 Percentage of any Net Swap Payment for such Payment Date; (ii) Date and swap termination amounts payable to the Class 2-A Notes, Current Interest thereon (after giving effect to Swap Counterparty in the payment of Interest Funds for Group 2) for such Payment Date; and (iii) sequentially, pursuant to clause (d) below. (c) On each Payment Date, event that the Indenture Trustee (Trust is a defaulting party or an affected party under the Paying Agent on behalf terms of the Indenture Trustee) shall pay Interest Funds for Group 2 for such date in the following order of priority in accordance with the report of the Trust Administrator: (i) to the Class 2-A Notes, Current Interest thereon for such Payment DateSwap Agreement; (ii) pro rata, to the Class 1-A1 Notes and Notes, the Class 1-A2 Notes and the A-IO(1) Component, Current Interest thereon for such Payment Date; (iii) pro rata, to the Class 2-A1 Notes, the Class 2-A2 Notes and the A-IO(2) Component, Current Interest thereon (after giving effect to the payment of the Interest Funds for Group 12) for such Payment Date; and; (iii) sequentially, pursuant to clause (d) below. (d) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Interest Funds for both Group 1 and Group 2 for such date after payments under clause (b) and clause (c) above in the following order of priority in accordance with the report of the Trust Administrator: (iiv) to the Class M1 Notes, Current Interest for such class for such Payment Date; (iiv) to the Class M2 Notes, Current Interest for such class for such Payment Date; (iiivi) to the Class M3 Notes, Current Interest for such class for such Payment Date; (iv) to the Class M4 Notes, Current Interest for such class for such Payment Date; (v) to the Class M5 Notes, Current Interest for such class for such Payment Date; (vi) to the Class M6 Notes, Current Interest for such class for such Payment Date; (vii) to the Class M7 Notes, Current Interest for such class for such Payment Date; (viii) to the Indenture Trustee, the Owner Trustee, the Master Servicer, the Trust Administrator, the Servicer and the Subservicer, previously unreimbursed extraordinary costs, liabilities and expenses to the extent provided in this Agreement; (ix) for application as part of Monthly Excess Cashflow for such Payment Date, as provided in subsection (f) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (viii) above. (e) On each Payment Date, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall pay Principal Funds for such date in accordance with the report of the Trust Administrator as follows: (i) On each Payment Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, the Indenture Trustee (or the Paying Agent on behalf of the Indenture Trustee) shall make the following payments to the extent of funds then in the Collection Account available therefor, concurrently: