Common use of Principal Distributions Clause in Contracts

Principal Distributions. On each Distribution Date, the Principal Distribution Amount for that Distribution Date will be distributed in the following order of priority until such amounts have been fully distributed: (i) to the Senior Certificates, the Senior Principal Distribution Amount, as follows: Concurrently: (A) to the Class A-7 Certificates, the Class A-7 Principal Distribution Amount, until the Certificate Principal Balance of the Class A-7 Certificates is reduced to zero; and (B) to the Sequential Certificates, the Sequential Principal Distribution Amount, with such amounts being distributed in the following order of priority: (1) to the Class A-6 Certificates, the Class A-6 Principal Distribution Amount; and (2) the balance, sequentially, to the Class X-0, Xxxxx X-0, Class A-3, Class A-4, Class A-5 and Class A-6 Certificates so that no distribution will be made to any class until the Certificate Principal Balances of all the Sequential Certificates with a lower numeral designation shall have been reduced to zero; provided, however, that, on any Distribution Date on which the Certificate Principal Balance of the Senior Certificates is equal to or greater than the Aggregate Principal Balance of the Mortgage Loans as of the end of the related Due Period, the Sequential Principal Distribution Amount will be distributed pro rata and not sequentially to those Sequential Certificates; (ii) to the Class M-1 Certificates, the Class M-1 Principal Distribution Amount; (iii) to the Class M-2 Certificates, the Class M-2 Principal Distribution Amount; (iv) to the Class B Certificates, the Class B Principal Distribution Amount; (v) to the Class X Certificates, an amount up to the remaining Aggregate Principal Balance of the Mortgage Loans; and (vi) to the Class R Certificates, the remaining amount.

Principal Distributions. On each Distribution Date, the Principal Distribution Amount for that Distribution Date will be distributed in the following order of priority until such amounts have been fully distributed: (i) with respect to each Distribution Date (x) before the Senior CertificatesStepdown Date or (y) if a Trigger Event is in effect, the Senior Principal Distribution Amountdistributions in respect of principal, as follows: Concurrently: (A) to the Class A-7 A Certificates, the Class A-7 Principal Distribution Amount, until the Class Certificate Principal Balance of the Class A-7 Certificates is thereof has been reduced to zero; and (B) to the Sequential Certificates, the Sequential Principal Distribution Amount, with such amounts being distributed in the following order of priority: (1) to the Class A-6 Certificates, the Class A-6 Principal Distribution Amount; and (2) the balance, sequentially, to the Class X-0M-0, Xxxxx X-0, Class A-3M-3, Class A-4M-4, Class A-5 M-5, Class M-6, Class M-7, Class M-8, Class M-9, Class M-10, Class B-1, Class B-2 and Class A-6 Certificates so B-3 Certificates, in that no distribution will be made to any class order, until the their respective Class Certificate Principal Balances of all the Sequential Certificates with a lower numeral designation shall have been reduced to zero; provided, however, that, on any Distribution Date on which the Certificate Principal Balance of the Senior Certificates is equal to or greater than the Aggregate Principal Balance of the Mortgage Loans as of the end of the related Due Period, the Sequential Principal Distribution Amount will be distributed pro rata and not sequentially to those Sequential Certificates;. (ii) with respect to each Distribution Date (x) on and after the Stepdown Date and (y) as long as a Trigger Event is not in effect, distribution in respect of principal as follows: (A) to the Class A Certificates, the Class A Principal Distribution Amount, until the Class Certificate Balance thereof has been reduced to zero; (B) sequentially, to the Class M-1 Certificates, the Class M-1 Principal Distribution Amount; (iii) ; to the Class M-2 Certificates, the Class M-2 Principal Distribution Amount; (iv) ; to the Class B M-3 Certificates, the Class B M-3 Principal Distribution Amount; (v) ; to the Class X M-4 Certificates, an amount up to the remaining Aggregate Class M-4 Principal Balance of the Mortgage LoansDistribution Amount; and (vi) to the Class R M-5 Certificates, the remaining amountClass M-5 Principal Distribution Amount; to the Class M-6 Certificates, the Class M-6 Principal Distribution Amount; to the Class M-7 Certificates, the Class M-7 Principal Distribution Amount; to the Class M-8 Certificates, the Class M-8 Principal Distribution Amount; to the Class M-9 Certificates, the Class M-9 Principal Distribution Amount; to the Class M-10 Certificates, the Class M-10 Principal Distribution Amount; to the Class B-1 Certificates, the Class B-1 Principal Distribution Amount; to the Class B-2 Certificates, the Class B-2 Principal Distribution Amount; and to the Class B-3 Certificates, the Class B-3 Principal Distribution Amount, in that order, in each case until their respective Class Certificate Balances have been reduced to zero.

Principal Distributions. On (i) with respect to each Distribution DateDate (x) before the Stepdown Date or (y) if a Trigger Event is in effect, as follows: (A) (x) sequentially, to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, in that order, the Principal Distribution Amount for that Distribution Date, until their respective Class Certificate Balances have been reduced to zero; provided, however, that with respect to any Distribution Date on which the aggregate Class Certificate Balance of the Subordinated Certificates has been reduced to zero and the Overcollateralization Amount for that Distribution Date is zero, the amount to be distributed to the Class A Certificates pursuant to this clause will be distributed in the following order of priority until such amounts have been fully distributed: (i) to the Senior Certificates, the Senior Principal Distribution Amount, as follows: Concurrently: (A) concurrently to the Class A-7 A-1, Class A-2, Class A-3 and Class A-4 Certificates, the pro rata, based on their Class A-7 Principal Distribution Amount, until the Certificate Principal Balance of the Class A-7 Certificates is reduced to zeroBalances; and (B) to the Sequential Certificates, the Sequential Principal Distribution Amount, with such amounts being distributed in the following order of priority: (1) to the Class A-6 Certificates, the Class A-6 Principal Distribution Amount; and (2) the balance, sequentially, to the Class X-0, Xxxxx X-0, Class A-3M-3, Class A-4M-4, Class A-5 M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class A-6 Certificates so M-10 Certificates, in that no distribution will be made order, the Principal Distribution Amount remaining for that Distribution Date, until their respective Class Certificate Balances have been reduced to any class zero. (ii) with respect to each Distribution Date (x) on and after the Stepdown Date and (y) as long as a Trigger Event is not in effect, as follows: (A) the Class A Principal Distribution Amount, sequentially, to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, in that order, until the their respective Class Certificate Principal Balances of all the Sequential Certificates with a lower numeral designation shall have been reduced to zero; provided, however, that, that with respect to distributions on any Distribution Date on which the aggregate Class Certificate Principal Balance of the Senior Subordinated Certificates has been reduced to zero and the Overcollateralization Amount for such Distribution Date is equal to or greater less than the Aggregate Principal Balance of the Mortgage Loans as of the end of the related Due Periodzero, the Sequential amount to be distributed will be distributed concurrently to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, pro rata (rather than sequentially), based on their respective Class Certificate Balances; and (B) the remaining Principal Distribution Amount will be distributed pro rata and not sequentially to those Sequential Certificates;as follows: (ii1) the Class M-1 Principal Distribution Amount to the Class M-1 Certificates, the until their Class M-1 Principal Distribution AmountCertificate Balance has been reduced to zero; (iii2) the Class M-2 Principal Distribution Amount to the Class M-2 Certificates, the until their Class M-2 Principal Distribution AmountCertificate Balance has been reduced to zero; (iv3) the Class M-3 Principal Distribution Amount to the Class B M-3 Certificates, the until their Class B Principal Distribution AmountCertificate Balance has been reduced to zero; (v4) the Class M-4 Principal Distribution Amount to the Class X M-4 Certificates, an amount up until their Class Certificate Balance has been reduced to zero; (5) the Class M-5 Principal Distribution Amount to the remaining Aggregate Class M-5 Certificates, until their Class Certificate Balance has been reduced to zero; (6) the Class M-6 Principal Distribution Amount to the Class M-6 Certificates, until their Class Certificate Balance of has been reduced to zero; (7) the Mortgage LoansClass M-7 Principal Distribution Amount to the Class M-7 Certificates, until their Class Certificate Balance has been reduced to zero; (8) the Class M-8 Principal Distribution Amount to the Class M-8 Certificates, until their Class Certificate Balance has been reduced to zero; (9) the Class M-9 Principal Distribution Amount to the Class M-9 Certificates, until their Class Certificate Balance has been reduced to zero; and (vi10) the Class M-10 Principal Distribution Amount to the Class R M-10 Certificates, the remaining amountuntil their Class Certificate Balance has been reduced to zero.