Common use of Payments from the Distribution Account Clause in Contracts

Payments from the Distribution Account. (a) The Indenture Trustee shall deposit to the Distribution Account, without duplication, upon receipt, (i) the proceeds of any liquidation of the assets of the Issuer and (ii) Interest Collections and Principal Collections remitted by the Servicers, together with any Substitution Amounts, and any Loan Purchase Price amounts received by the Indenture Trustee (b) With respect to the Distribution Account, on each Payment Date, from amounts then on deposit therein, net of the Indenture Trustee Fee, the Indenture Trustee Expense Amount, the Servicing Fee and the Owner Trustee Fee, and based solely on the information contained in the certificate provided by the Master Servicer, the Indenture Trustee shall make the following allocations, disbursements and transfers in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurred: (i) to the Insurer, the Premium Amount with respect to the Class A Notes for such Payment Date; (ii) concurrently, to the Holders of the Class A Notes, the Interest Payment Amount for such Payment Date and, during the Managed Amortization Period, to the related Servicer accrued and unpaid, interest on any Additional Balance Contributed Amount that has not previously been reimbursed pursuant to clause (iii) below at the Class A Note Rate for such Payment Date; (iii) to the related Servicer on each Payment Date during the Managed Amortization Period, from Principal Collections, an amount equal to the Additional Balance Contributed Amount; (iv) to the Holders of the Class A Notes, as a payment of principal, the Principal Payment Amount for such Payment Date; (v) to the Holders of the Class A Notes, as a payment of principal, in the following order, (a) Charge-Off Amounts incurred during the preceding calendar month and (b) Charge-Off Amounts incurred during previous periods that were not subsequently funded by Interest Collections, overcollateralization or draws under the Policy in respect of an Overcollateralization Deficit; (vi) to the Insurer, the Reimbursement Amount, if any, then due to it; (vii) to the Holders of the Class A Notes, the Accelerated Principal Payment, if any; (viii) to the Servicers, to pay certain amounts that may be required to be paid to the Servicers (including expenses associated with the transition to any new servicer) and not previously reimbursed; (ix) to the Holders of the Class A Notes to pay Deferred Interest and interest thereon at the Class A Note Rate; (x) pari passu, (a) to the Indenture Trustee, any unpaid fees and unreimbursed expenses due and owing to the Indenture Trustee and not otherwise previously paid on such Payment Date, and (b) to the Owner Trustee, any unpaid fees and unreimbursed expenses due and owing to the Owner Trustee and not otherwise previously paid on such Payment Date; and (xi) to the Owner Trustee, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders, as set forth in Section [___] of the Trust Agreement.

Payments from the Distribution Account. (a) The Indenture Trustee shall deposit to into the Distribution Account, without duplication, upon receipt, (i) the proceeds of any liquidation of the assets of the Issuer and (ii) Interest Collections and Principal Collections the Total Distribution Amount remitted by the Servicers, Servicers to the Master Servicer together with any Substitution Amounts, and any Loan Purchase Price amounts received by the Indenture Trustee. (b) With respect to the Distribution Account, on On each Payment Date, from amounts then on deposit thereinin the Distribution Account, (x) net of an amount equal to (i) any unreimubursed expenses and indemnities due and owing to the Indenture Trustee pursuant to Section 6.07 of the Indenture (provided, however, such amount shall not exceed $20,000 on any Payment Date nor exceed $150,000 during any Anniversary Year (excluding, for this purpose, any costs or expenses incurred by the Indenture Trustee Feepursuant to Section 6.01(a) in connection with any transfers of servicing); provided, further that the Indenture Trustee may be reimbursed for amounts in excess of $150,000 incurred in a given Anniversary Year in subsequent Anniversary Years, but (subject to the immediately preceding sentence) in no event shall more than $150,000 be reimbursed to the Indenture Trustee per Anniversary Year) (the “Indenture Trustee Expense Amount”), (ii) the Servicing Fee and (iii) the Owner Trustee Fee, and based solely (y) plus any amounts on the information contained deposit in the certificate provided by the Master ServicerPolicy Payment Account (which amounts shall be applied pursuant to Section 5.04(c) of this Agreement), the Indenture Trustee shall make the following allocations, disbursements and transfers in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurred: (i) to the Insurer, the Premium Amount with respect to the Class A Notes for such Payment Date; (ii) concurrentlyconcurrently (pro rata based on amounts due), (x) to the Holders of the Class A NotesNoteholders, the Interest Payment Amount with respect to the Class A Notes for such Payment Date and, and (y) during the Managed Amortization Period, to the related Servicer Holder of the Class L Certificate for accrued and unpaid, unpaid interest at the Class A Note Rate for such Payment Date on any Additional Balance Contributed Advance Amount that has not previously been reimbursed pursuant to clause (iii) below at the Class A Note Rate for such Payment Datebelow; (iii) to the related Servicer on each Payment Date during the Managed Amortization Period, to the Holder of the Class L Certificate, from Principal Collections, an amount equal to the Additional Balance Contributed AmountAdvance Amount for such Payment Date; (iv) to the Holders of the Class A NotesNoteholders, as a payment of principal, the Class A Principal Payment Amount for such Payment Date; (v) to the Holders of the Class A NotesNoteholders, as a payment of principal, in the following order, (a) Charge-Off Amounts incurred during the preceding calendar month and (b) Charge-Off Amounts incurred during previous periods that were not subsequently funded by Interest Collections, overcollateralization or draws under the Policy in respect of an Overcollateralization Deficit; (vi) to the Insurer, the Reimbursement Amount, if any, then due to it; (vii) to the Holders of Class M1 Noteholders, the Interest Payment Amount with respect to the Class M1 Notes for such Payment Date; (viii) to the Class M2 Noteholders, the Interest Payment Amount with respect to the Class M2 Notes for such Payment Date; (ix) to the Class A NotesNoteholders, the Accelerated Principal Payment, if any; (viiix) To the Class M1 Noteholders, the Class M1 Principal Payment Amount for such Payment Date, together with any Accelerated Principal Payment not paid to the Holders of the Class A Notes in accordance with clause (ix) above; (xi) To the Class M2 Noteholders, the Class M2 Principal Payment Amount for such Payment Date, together with any Accelerated Principal Payment not paid to the Holders of the Class A Notes or the Class M1 Notes in accordance with clause (ix) or (x) above; (xii) to the ServicersServicer, to pay certain amounts that may be required to be paid to the Servicers Servicer (including expenses associated with the transition to any new servicer) and not previously reimbursed; (ixxiii) sequentially, to the Holders of the Class A Notes A, Class M1 and Class M2 Noteholders (in that order) to pay Deferred Interest and interest thereon at the Class A Note Ratethereon; (xxiv) pari passu, (a) to the Indenture Trustee, any unpaid fees and unreimbursed expenses due and owing to the Indenture Trustee and not otherwise previously paid on such Payment Date, and (b) to the Owner Trustee, any unpaid fees and unreimbursed expenses due and owing to the Owner Trustee and not otherwise previously paid on such Payment Date; and (xixv) to the Owner Trustee, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders, as set forth in Section [___] 3.11 of the Trust Agreement.

Payments from the Distribution Account. (a) The Indenture Trustee On each Distribution Date, the Paying Agent shall deposit to pay the Interest Funds for such date, from funds in the Distribution Account, without duplication, upon receipt, (i) the proceeds of any liquidation of the assets of the Issuer and (ii) Interest Collections and Principal Collections remitted by the Servicers, together with any Substitution Amounts, and any Loan Purchase Price amounts received by the Indenture Trustee (b) With respect to the Distribution Account, on each Payment Date, from amounts then on deposit therein, net of the Indenture Trustee Fee, the Indenture Trustee Expense Amount, the Servicing Fee and the Owner Trustee Fee, and based solely on the information contained in the certificate provided by the Master Servicer, the Indenture Trustee shall make the following allocations, disbursements and transfers in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurredpriority in accordance with the report of the Securities Administrator: (i) [concurrently, in proportion to the Insureramount of Current Interest and Carryforward Interest for each such Class, the Premium Amount with respect to the Senior Certificates, Current Interest for each such Class A Notes for such Payment Distribution Date; (ii) concurrently, to the Holders of the Class A Notes[ ] Certificates, the Current Interest Payment Amount and Carryforward Interest for such Payment Date and, during the Managed Amortization Period, to the related Servicer accrued and unpaid, interest on any Additional Balance Contributed Amount that has not previously been reimbursed pursuant to clause (iii) below at the Class A Note Rate for such Payment Distribution Date; (iii) to the Class [ ] Certificates, Current Interest and Carryforward Interest for such Class for such Distribution Date; and (iv) for application as part of Monthly Excess Interest for such Distribution Date, as provided in subsection (d) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (iii) above.] [To be modified in accordance with the structure of the related Servicer on transaction.] (b) On each Payment Distribution Date, the Paying Agent shall pay the Principal Distribution Amount for such Distribution Date from funds in the Distribution Account as follows: (i) [On each Distribution Date during the Managed Amortization Revolving Period, to the Depositor, the purchase price of any Additional Mortgage Loans to be purchased by the Trust Fund from the Depositor on such Distribution Date;] (ii) [After the Revolving Period and] On each Distribution Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, in the following order of priority: (1) [concurrently, in proportion to the Class Principal CollectionsAmounts thereof, to the Senior Certificates, in reduction of their Class Principal Amounts until the Class Principal Amount of each such Class has been reduced to zero; (2) to the Class [ ] Certificates, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; (3) to the Class [ ] Certificates, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; and (4) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (c) of this Section, any Principal Distribution Amount remaining after application pursuant to clauses (1) through (3) above.] (iii) On each Distribution Date (a) on or after the Stepdown Date and (b) with respect to which a Trigger Event is not in effect, in the following order of priority: (1) [concurrently, in proportion to the Class Principal Amounts thereof, to the Senior Certificates, an amount equal to the Class [ ] Principal Distribution Amount, in reduction of their Class Principal Amounts until the Class Principal Amount of each such Class has been reduced to zero; (2) to the Class [ ] Certificates, an amount equal to the Class [ ] Principal Distribution Amount, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; (3) to the Class [ ] Certificates, an amount equal to the Class [ ]Principal Distribution Amount, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; and (4) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (c) of this Section, any Principal Distribution Amount remaining after application pursuant to clauses (1) through (3) above.] [To be modified in accordance with the structure of the related transaction.] (c) On each Distribution Date, the Paying Agent shall pay the Monthly Excess Cashflow for such date from funds in the Distribution Account in accordance with the report of the Securities Administrator, in the following order of priority: (i) [On each Distribution Date during the Revolving Period, to the Depositor, the purchase price of any Additional Balance Contributed Mortgage Loans to be purchased by the Trust Fund from the Depositor on such Distribution Date;] (ii) [On each Distribution Date after the Revolving Period, in the following order of priority:] (A) [to fund the Extra Principal Distribution Amount, to the extent of Monthly Excess Interest available on such Distribution Date; (B) to the Basis Risk Reserve Fund, an amount equal to the Basis Risk Payment for such Distribution Date, and then from the Basis Risk Reserve Fund in the following order of priority, (1) concurrently, in proportion to the amount of Basis Risk Shortfall Carryforward Amount for each such Class, to the Senior Certificates, any Basis Risk Shortfall Carryforward Amount for each such Class and such Distribution Date [to the extent not covered by the Cap Agreements]; (2) to the Class [ ] Certificates, any applicable Basis Risk Shortfall Carryforward Amount for such Class and such Distribution Date [to the extent not covered by the Cap Agreements]; (3) to the Class [ ] Certificates, any applicable Basis Risk Shortfall Carryforward Amount for such Class and such Distribution Date [to the extent not covered by the Cap Agreements]; and (iii) to the Class [ ] Certificates, any Deferred Amount for such Class and such Distribution Date; (iv) to the Holders of the Class A Notes[ ] Certificates, as a payment of principal, the Principal Payment any Deferred Amount for such Payment Class and such Distribution Date; (v) to the Holders of the Class A Notes[ ] Certificates, as a payment of principal, in the following order, (a) Charge-Off Amounts incurred during the preceding calendar month any Deferred Amount for such Class and (b) Charge-Off Amounts incurred during previous periods that were not subsequently funded by Interest Collections, overcollateralization or draws under the Policy in respect of an Overcollateralization Deficitsuch Distribution Date; (vi) to the Insurer, Class R Certificate after application pursuant to clauses (i) through (v) above.] [To be modified in accordance with the Reimbursement Amount, if any, then due to it; (vii) to the Holders structure of the Class A Notes, the Accelerated Principal Payment, if any; (viii) to the Servicers, to pay certain amounts that may be required to be paid to the Servicers (including expenses associated with the transition to any new servicer) and not previously reimbursed; (ix) to the Holders of the Class A Notes to pay Deferred Interest and interest thereon at the Class A Note Rate; (x) pari passu, (a) to the Indenture Trustee, any unpaid fees and unreimbursed expenses due and owing to the Indenture Trustee and not otherwise previously paid on such Payment Date, and (b) to the Owner Trustee, any unpaid fees and unreimbursed expenses due and owing to the Owner Trustee and not otherwise previously paid on such Payment Date; and (xi) to the Owner Trustee, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders, as set forth in Section [___] of the Trust Agreementrelated transaction.]

Payments from the Distribution Account. (a) The Indenture Trustee shall deposit to into the Distribution Account, without duplication, upon receipt, (i) the proceeds of any liquidation of the assets of the Issuer and (ii) Interest Collections and Principal Collections the Total Distribution Amount remitted by the Servicers, Servicers to the Master Servicer together with any Substitution Amounts, and any Loan Purchase Price amounts received by the Indenture Trustee. (b) With respect to the Distribution Account, on On each Payment Date, from amounts then on deposit thereinin the Distribution Account, (x) net of an amount equal to (i) any unreimbursed expenses and indemnities due and owing to the Indenture Trustee pursuant to Section 6.07 of the Indenture (provided, however, such amount shall not exceed $20,000 on any Payment Date nor exceed $150,000 during any Anniversary Year (excluding, for this purpose, any costs or expenses incurred by the Indenture Trustee Feepursuant to Section 6.01(a) in connection with any transfers of servicing); provided, further that the Indenture Trustee may be reimbursed for amounts in excess of $150,000 incurred in a given Anniversary Year in subsequent Anniversary Years, but (subject to the immediately preceding sentence) in no event shall more than $150,000 be reimbursed to the Indenture Trustee per Anniversary Year) (the "Indenture Trustee Expense Amount"), (ii) the Servicing Fee and (iii) the Owner Trustee Fee, and based solely (y) plus any amounts on the information contained deposit in the certificate provided by the Master ServicerPolicy Payment Account (which amounts shall be applied pursuant to Section 5.04(c) of this Agreement), the Indenture Trustee shall make the following allocations, disbursements and transfers in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurred: (i) to the Insurer, the Premium Amount with respect to the Class A Notes for such Payment Date; (ii) concurrentlyconcurrently (pro rata based on amounts due), (x) to the Holders of the Class A NotesNoteholders, the Interest Payment Amount with respect to the Class A Notes for such Payment Date and, and (y) during the Managed Amortization Period, to the related Servicer Holder of the Class L Certificate for accrued and unpaid, unpaid interest at the Class A Note Rate for such Payment Date on any Additional Balance Contributed Advance Amount that has not previously been reimbursed pursuant to clause (iii) below at the Class A Note Rate for such Payment Datebelow; (iii) to the related Servicer on each Payment Date during the Managed Amortization Period, to the Holder of the Class L Certificate, from Principal Collections, an amount equal to the Additional Balance Contributed AmountAdvance Amount for such Payment Date; (iv) to the Holders of the Class A NotesNoteholders, as a payment of principal, the Class A Principal Payment Amount for such Payment Date; (v) to the Holders of the Class A NotesNoteholders, as a payment of principal, in the following order, (a) Charge-Off Amounts incurred during the preceding calendar month and (b) Charge-Off Amounts incurred during previous periods that were not subsequently funded by Interest Collections, overcollateralization or draws under the Policy in respect of an Overcollateralization Deficit; (vi) to the Insurer, the Reimbursement Amount, if any, then due to it; (vii) to the Holders of Class M1 Noteholders, the Interest Payment Amount with respect to the Class M1 Notes for such Payment Date; (viii) to the Class M2 Noteholders, the Interest Payment Amount with respect to the Class M2 Notes for such Payment Date; (ix) to the Class A NotesNoteholders, the Accelerated Principal Payment, if any; (viiix) To the Class M1 Noteholders, the Class M1 Principal Payment Amount for such Payment Date, together with any Accelerated Principal Payment not paid to the Holders of the Class A Notes in accordance with clause (ix) above; (xi) To the Class M2 Noteholders, the Class M2 Principal Payment Amount for such Payment Date, together with any Accelerated Principal Payment not paid to the Holders of the Class A Notes or the Class M1 Notes in accordance with clause (ix) or (x) above; (xii) to the ServicersServicer, to pay certain amounts that may be required to be paid to the Servicers (Servicer under the Servicing Agreement including expenses associated with the transition to any new servicer) and not previously reimbursed; (ixxiii) sequentially, to the Class A, Class M1 and Class M2 Noteholders (in that order) to the Holders of the Class A Notes to pay current Deferred Interest and any previously unreimbursed Deferred Interest for any prior Payment Date and interest thereon at the Class A applicable Note Rate; (xxiv) pari passu, (a) to the Indenture Trustee, any unpaid fees and unreimbursed expenses due and owing to the Indenture Trustee and not otherwise previously paid on such Payment Date, and (b) to the Owner Trustee, any unpaid fees and unreimbursed expenses due and owing to the Owner Trustee and not otherwise previously paid on such Payment Date; and (xixv) to the Owner Trustee, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders, as set forth in Section [___] 3.11 of the Trust Agreement.

Payments from the Distribution Account. (a) The Indenture Trustee shall deposit to the Distribution Account, without duplication, upon receipt, (i) the proceeds of any liquidation of the assets of the Issuer and (ii) Interest Collections and Principal Collections remitted by the Servicers, together with any Substitution Amounts, and any Loan Purchase Price amounts received by the Indenture Trustee (b) With respect to the Distribution Account, on each Payment Date, from amounts then on deposit therein, net of the Indenture Trustee Fee, the Indenture Trustee Expense Amount, the Servicing Fee and the Owner Trustee Fee, and based solely on the information contained in the certificate provided by the Master Servicer, the Indenture Trustee shall make the following allocations, disbursements and transfers in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurred: (i) to the Insurer, the Premium Amount with respect to the Class A Notes for such Payment Date; (ii) concurrently, to the Holders of the Class A Notes, the Interest Payment Amount for such Payment Date and, during the Managed Amortization Period, to the related Servicer accrued and unpaid, interest on any Additional Balance Contributed Amount that has not previously been reimbursed pursuant to clause (iii) below at the Class A Note Rate for such Payment Date; (iii) to the related Servicer on each Payment Date during the Managed Amortization Period, from Principal Collections, an amount equal to the Additional Balance Contributed Amount; (iv) to the Holders of the Class A Notes, as a payment of principal, the Principal Payment Amount for such Payment Date; (v) to the Holders of the Class A Notes, as a payment of principal, in the following order, (a) Charge-Off Amounts incurred during the preceding calendar month and (b) Charge-Off Amounts incurred during previous periods that were not subsequently funded by Interest Collections, overcollateralization or draws under the Policy in respect of an Overcollateralization Deficit; (vi) to the Insurer, the Reimbursement Amount, if any, then due to it; (vii) to the Holders of the Class A Notes, the Accelerated Principal Payment, if any; (viii) to the Servicers, to pay certain amounts that may be required to be paid to the Servicers (including expenses associated with the transition to any new servicer) and not previously reimbursed; (ix) to the Holders of the Class A Notes to pay Deferred Interest and interest thereon at the Class A Note Rate; (x) pari passu, (a) to the Indenture Trustee, any unpaid fees and unreimbursed expenses due and owing to the Indenture Trustee and not otherwise previously paid on such Payment Date, and (b) to the Owner Trustee, any unpaid fees and unreimbursed expenses due and owing to the Owner Trustee and not otherwise previously paid on such Payment Date; and (xi) to the Owner Trustee, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders, as set forth in Section [___] 3.11 of the Trust Agreement.

Payments from the Distribution Account. (a) The Indenture Trustee On each Distribution Date, the Paying Agent shall deposit to pay the Interest Funds for such date, from funds in the Distribution Account, without duplication, upon receipt, (i) the proceeds of any liquidation of the assets of the Issuer and (ii) Interest Collections and Principal Collections remitted by the Servicers, together with any Substitution Amounts, and any Loan Purchase Price amounts received by the Indenture Trustee (b) With respect to the Distribution Account, on each Payment Date, from amounts then on deposit therein, net of the Indenture Trustee Fee, the Indenture Trustee Expense Amount, the Servicing Fee and the Owner Trustee Fee, and based solely on the information contained in the certificate provided by the Master Servicer, the Indenture Trustee shall make the following allocations, disbursements and transfers in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurredpriority in accordance with the report of the Securities Administrator: (i) [concurrently, in proportion to the Insureramount of Current Interest and Carryforward Interest for each such Class, the Premium Amount with respect to the Senior Certificates, Current Interest for each such Class A Notes for such Payment Distribution Date; (ii) concurrently, to the Holders of the Class A Notes[ ] Certificates, the Current Interest Payment Amount and Carryforward Interest for such Payment Date and, during the Managed Amortization Period, to the related Servicer accrued and unpaid, interest on any Additional Balance Contributed Amount that has not previously been reimbursed pursuant to clause (iii) below at the Class A Note Rate for such Payment Distribution Date; (iii) to the Class [ ] Certificates, Current Interest and Carryforward Interest for such Class for such Distribution Date; and (iv) for application as part of Monthly Excess Interest for such Distribution Date, as provided in subsection (d) of this Section, any Interest Funds remaining after application pursuant to clauses (i) through (iii) above.] [To be modified in accordance with the structure of the related Servicer on transaction.] (b) On each Payment Distribution Date, the Paying Agent shall pay the Principal Distribution Amount for such Distribution Date from funds in the Distribution Account as follows: (i) [On each Distribution Date during the Managed Amortization Revolving Period, to the Depositor, the purchase price of any Additional Mortgage Loans to be purchased by the Trust Fund from the Depositor on such Distribution Date;] (ii) [After the Revolving Period and] On each Distribution Date (a) prior to the Stepdown Date or (b) with respect to which a Trigger Event is in effect, in the following order of priority: (1) [concurrently, in proportion to the Class Principal CollectionsAmounts thereof, to the Senior Certificates, in reduction of their Class Principal Amounts until the Class Principal Amount of each such Class has been reduced to zero; (2) to the Class [ ] Certificates, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; (3) to the Class [ ] Certificates, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; and (4) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (c) of this Section, any Principal Distribution Amount remaining after application pursuant to clauses (1) through (3) above.] (iii) On each Distribution Date (a) on or after the Stepdown Date and (b) with respect to which a Trigger Event is not in effect, in the following order of priority: (1) [concurrently, in proportion to the Class Principal Amounts thereof, to the Senior Certificates, an amount equal to the Class [ ] Principal Distribution Amount, in reduction of their Class Principal Amounts until the Class Principal Amount of each such Class has been reduced to zero; (2) to the Class [ ] Certificates, an amount equal to the Class [ ] Principal Distribution Amount, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; (3) to the Class [ ] Certificates, an amount equal to the Class [ ] Principal Distribution Amount, in reduction of their Class Principal Amount, until the Class Principal Amount of such Class has been reduced to zero; and (4) for application as part of Monthly Excess Cashflow for such Distribution Date, as provided in subsection (c) of this Section, any Principal Distribution Amount remaining after application pursuant to clauses (1) through (3) above.] [To be modified in accordance with the structure of the related transaction.] (c) On each Distribution Date, the Paying Agent shall pay the Monthly Excess Cashflow for such date from funds in the Distribution Account in accordance with the report of the Securities Administrator, in the following order of priority: (i) [On each Distribution Date during the Revolving Period, to the Depositor, the purchase price of any Additional Balance Contributed Mortgage Loans to be purchased by the Trust Fund from the Depositor on such Distribution Date;] (ii) [On each Distribution Date after the Revolving Period, in the following order of priority:] (A) [to fund the Extra Principal Distribution Amount, to the extent of Monthly Excess Interest available on such Distribution Date; (B) to the Basis Risk Reserve Fund, an amount equal to the Basis Risk Payment for such Distribution Date, and then from the Basis Risk Reserve Fund in the following order of priority, (1) concurrently, in proportion to the amount of Basis Risk Shortfall Carryforward Amount for each such Class, to the Senior Certificates, any Basis Risk Shortfall Carryforward Amount for each such Class and such Distribution Date [to the extent not covered by the Cap Agreements]; (2) to the Class [ ] Certificates, any applicable Basis Risk Shortfall Carryforward Amount for such Class and such Distribution Date [to the extent not covered by the Cap Agreements]; (3) to the Class [ ] Certificates, any applicable Basis Risk Shortfall Carryforward Amount for such Class and such Distribution Date [to the extent not covered by the Cap Agreements]; and (iii) to the Class [ ] Certificates, any Deferred Amount for such Class and such Distribution Date; (iv) to the Holders of the Class A Notes[ ] Certificates, as a payment of principal, the Principal Payment any Deferred Amount for such Payment Class and such Distribution Date; (v) to the Holders of the Class A Notes[ ] Certificates, as a payment of principal, in the following order, (a) Charge-Off Amounts incurred during the preceding calendar month any Deferred Amount for such Class and (b) Charge-Off Amounts incurred during previous periods that were not subsequently funded by Interest Collections, overcollateralization or draws under the Policy in respect of an Overcollateralization Deficitsuch Distribution Date; (vi) to the Insurer, Class R Certificate after application pursuant to clauses (i) through (v) above.] [To be modified in accordance with the Reimbursement Amount, if any, then due to it; (vii) to the Holders structure of the Class A Notes, the Accelerated Principal Payment, if any; (viii) to the Servicers, to pay certain amounts that may be required to be paid to the Servicers (including expenses associated with the transition to any new servicer) and not previously reimbursed; (ix) to the Holders of the Class A Notes to pay Deferred Interest and interest thereon at the Class A Note Rate; (x) pari passu, (a) to the Indenture Trustee, any unpaid fees and unreimbursed expenses due and owing to the Indenture Trustee and not otherwise previously paid on such Payment Date, and (b) to the Owner Trustee, any unpaid fees and unreimbursed expenses due and owing to the Owner Trustee and not otherwise previously paid on such Payment Date; and (xi) to the Owner Trustee, any amounts remaining in the Distribution Account for payment to the Residual Certificateholders, as set forth in Section [___] of the Trust Agreementrelated transaction.]