Common use of Priorities of Distributions on the Certificates Clause in Contracts

Priorities of Distributions on the Certificates. (a) On each Distribution Date, the Trust Administrator shall withdraw the Available Funds, (to the extent on deposit in the Distribution Account) from the Distribution Account and, pursuant to written instruction received from the Master Servicer as set forth in Section 4.04(a), upon which it may conclusively rely, apply such funds, first to distributions in respect of the Subsidiary REMIC Regular Interests, the Middle REMIC 1 Regular Interests and the Middle REMIC 2 Regular Interests, as provided in the Preliminary Statement, and then to distributions on the Certificates and to the Certificate Insurer in the following order and priority and, in each case, to the extent of such Available Funds: (1) first, concurrently, to each Class of Interest Only Certificates, pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; (2) second, concurrently, (A) to each Class of Senior Certificates (other than the Interest Only Certificates), pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; and (B) to the Certificate Insurer, up to the Premium Distribution Amount, if any, for such Distribution Date; (3) third, to the Certificate Insurer, up to the Aggregate Certificate Insurer Reimbursement Amount, if any, for such Distribution Date; (4) fourth, sequentially, to the holders of the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to the Current Interest for each such Class and such Distribution Date. (5) fifth, (A) on each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, in an amount up to the Principal Distribution Amount for that Distribution Date, concurrently, to the following Classes of Certificates, pro rata on the basis of the related Group Principal Distribution Amount: (a) in an amount up to the Group 1 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 1 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 1-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (b) in an amount up to the Group 2 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 2 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 2-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (c) in an amount up to the Group 3 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 3 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; and (ii) second, concurrently, to the Group 1 Certificates, Group 2 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; and (d) in an amount up to the Group 4 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 4 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 4-A-2 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 2 Certificates and Group 3 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; and

Priorities of Distributions on the Certificates. (a) On each Distribution Date, the Trust Administrator shall withdraw the Available Funds, (to the extent on deposit in the Distribution Account) from the Distribution Account and, pursuant to written instruction received from the Master Servicer as set forth in Section 4.04(a), upon which it may conclusively rely, apply such funds, first to distributions in respect of the Subsidiary REMIC Regular Interests, the Middle REMIC 1 Regular Interests and the Middle REMIC 2 Regular Interests, as provided in the Preliminary Statement, and then to distributions on the Certificates and to the Certificate Insurer in the following order and priority and, in each case, to the extent of such Available Funds: On each Distribution Date, the aggregate Interest Remittance Amount will be distributed in the following amounts and order of priority: (1) first, concurrently, to each Class of Interest Only Certificates, pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; (2) second, concurrently, (A) to each Class of Senior Certificates (other than the Interest Only Certificates), pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; and (B) to the Certificate Insurer, up to the Premium Distribution Amount, if any, for such Distribution Date; (2) second, concurrently, to the classes of Senior Certificates, pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such class and such Distribution Date; (3) third, to the Certificate Insurer, up to the Aggregate Certificate Insurer Reimbursement Amount, if any, for such Distribution Date; (4) fourth, sequentially, to the holders of the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 M-7, Class M-8 and Class M-8 CertificatesM-9 certificates, in that order, up to the Current Interest for each such Class class and the Interest Carry Forward Amount for each such class and such Distribution Date.; and (5) fifth, for application as part of monthly excess cash flow (Asuch amount Net Monthly Excess Cashflow) on each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, in an amount up to the Principal Distribution Amount for that Distribution Date, concurrently, to the following Classes of Certificates, pro rata on the basis of the related Group Principal Distribution Amount: (a) in an amount up to the Group 1 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 1 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 1-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses clause (2)(BIV) and (3) above; and (iii) third, concurrently, to the Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (b) in an amount up to the Group 2 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 2 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 2-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (c) in an amount up to the Group 3 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 3 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; and (ii) second, concurrently, to the Group 1 Certificates, Group 2 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; and (d) in an amount up to the Group 4 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 4 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 4-A-2 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 2 Certificates and Group 3 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; andbelow.

Priorities of Distributions on the Certificates. (a) On each Distribution Date, the Trust Administrator shall withdraw the Available Funds, (to the extent on deposit in the Distribution Account) from the Distribution Account and, pursuant to written instruction received from the Master Servicer as set forth in Section 4.04(a), upon which it may conclusively rely, apply such funds, first to distributions in respect of the Subsidiary REMIC Regular Interests, the Middle REMIC 1 Regular Interests and the Middle REMIC 2 Regular Interests, as provided in the Preliminary Statement, and then to distributions on the Certificates and to the Certificate Insurer in the following order and priority and, in each case, to the extent of such Available Funds: (I) first, the Trust Administrator shall distribute an amount up to the Interest Remittance Amount for such Distribution Date in the following order and priority: (1) first, concurrently, to each Class of Interest Only Certificates, pro rata, up to the Current Interest and Swap Provider, any Net Swap Payment owed to the Interest Carry Forward Amount Swap Provider pursuant to the Swap Agreement for each such Class and such Distribution Date; (2) second, concurrently,to the Swap Provider, any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (A3) third, to each Class class of Senior Certificates (other than the Interest Only Certificates), pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; and (B) to the Certificate Insurer, up to the Premium Distribution Amount, if any, for such Distribution Date; (3) third, to the Certificate Insurer, up to the Aggregate Certificate Insurer Reimbursement Amount, if any, for such Distribution Date; (4) fourth, sequentially, to the holders of the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to the Current Interest for each such Class and such Distribution Date. (5II) fifthsecond, following distributions pursuant to Section 4.02(a)(I), the Trust Administrator shall distribute an amount up to the Principal Distribution Amount for such Distribution Date in the following order and priority: (A) on each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, in an amount up to the Principal Swap Provider, any Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreement for such Distribution Amount for that Distribution DateDate remaining unpaid following distributions of the Interest Remittance Amount; (2) second, to the Swap Provider, any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement remaining unpaid following distributions of the Interest Remittance Amount; (3) third, concurrently, to the following Classes of Certificates, pro rata on the basis of the related Group Principal Distribution Amountas follows: (a) in an amount up to the Group 1 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently70.4290159658%, to the Group 1 Class A-1 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 1-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on its Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are is reduced to zero; (b) in an amount up to the Group 2 Principal Distribution Amount for such Distribution Date14.6328191269%, sequentially: (i) first, concurrently, to the Group 2 Class A-2 and Class A-3 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 2-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (c) in an amount up to the Group 3 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 3 Certificates, pro rata based on Class Principal Balancethat order, until their respective Class Principal Balances are reduced to zero; and (iic) second, concurrently14.9381649073%, to the Group 1 Class A-4 Certificates, Group 2 Certificates and Group 4 Certificates, pro rata based on until its Class Principal Balance is reduced to zero; (after any payments 4) fourth, sequentially, to such Certificates from the related Group Principal Distribution Amount)Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, until their respective Class Principal Balances are reduced to zero; and (dB) On each Distribution Date (a) on or after the Stepdown Date and (b) on which a Trigger Event is not in effect, in the following order of priority, in an amount up to the Group 4 Principal Distribution Amount Amount: (1) first, to the Swap Provider, any Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreement for such Distribution DateDate remaining unpaid following distributions of the Interest Remittance Amount; (2) second, sequentiallyto the Swap Provider, any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement remaining unpaid following distributions of the Interest Remittance Amount; (3) third, concurrently, in an amount up to the Senior Principal Distribution Amount, as follows: (ia) first, concurrently70.4290159658%, to the Group 4 Class A-1 Certificates, pro rata based on until its Class Principal Balance, until their respective Class Principal Balances are Balance is reduced to zero; (iib) second14.6328191269%, sequentially, to the Certificate Insurer, up to the Class 4-A-2 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Class A-3 Certificates, Group 2 Certificates and Group 3 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount)in that order, until their respective Class Principal Balances are reduced to zero; and (c) 14.9381649073%, to the Class A-4 Certificates, until its Class Principal Balance is reduced to zero; (4) fourth, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the related Mezzanine Principal Distribution Amount, until their respective Class Principal Balances are reduced to zero. (III) third, following distributions pursuant to Sections 4.02(a)(I) and 4.02(a)(II), the Trust Administrator shall distribute the Net Monthly Excess Cashflow, if any, in the following order and priority: (1) first, to the Class or Classes of Certificates then entitled to receive distributions of principal pursuant to Section 4.02(a)(II)(A) or 4.02(a)(II)(B) above, in an amount up to any Overcollateralization Maintenance Amount (as included in the Principal Distribution Amount) for such Distribution Date, in the order of priority set forth in Section 4.02(a)(II)(A) or 4.02(a)(II)(B) above, as applicable; (2) second, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, the Interest Carry Forward Amount for each such Class and such Distribution Date; (3) third, sequentially, to the Senior Certificates, as follows: (a) first, to the Class A-1, Class A-2 and Class A-3 certificates, pro rata based on Class Principal Balance, in an amount up to the Unpaid Realized Loss Amount for each such Class of Senior Certificates; and (b) second, to the Class A-4 certificates, in an amount up to the Unpaid Realized Loss Amount for such Class of Senior Certificates; (4) fourth, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to the Unpaid Realized Loss Amount for each such Class of Certificates; (5) fifth, concurrently, to the Senior Certificates, pro rata based on the amount of Net Rate Carryover with respect to each such Class of Certificates, up to the amount of Net Rate Carryover for each such Class of Certificates; (6) sixth, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to the amount of Net Rate Carryover for each such Class of Certificates; (7) seventh, to the Swap Provider, any Swap Termination Payment owed to the Swap Provider resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (8) eighth, to the Class C Certificates; and (9) ninth, any remaining amounts to the Class R-X Certificates to the extent attributable to the Class C or Class P Certificates, and to the Class R Certificates to the extent attributable to any other REMIC created hereby; provided that (A) if such Distribution Date follows the Prepayment Period during which occurs the latest date on which a prepayment charge may be required to be paid in respect of any Mortgage Loans or if such Distribution Date is the final Distribution Date, the Trust Administrator shall withdraw any amounts on deposit in the Class P Reserve Fund and distribute such amounts to the Holders of the Class P Certificates, until its Class Principal Balance is reduced to zero and (B) any distributions pursuant to clauses (1) through (9) of Section 4.02(a)(III) above will be made prior to any distributions from the Cap Account and the Swap Account.

Priorities of Distributions on the Certificates. (a) On each Distribution Date, the Trust Administrator shall withdraw the Available Funds, (to the extent on deposit in the Distribution Account) from the Distribution Account and, pursuant to written instruction received from the Master Servicer as set forth in Section 4.04(a), upon which it may conclusively rely, apply such funds, first to distributions in respect of the Subsidiary REMIC Regular Interests, the Middle REMIC 1 Regular Interests and the Middle REMIC 2 Regular Interests, as provided in the Preliminary Statement, and then to distributions on the Certificates and to the Certificate Insurer in the following order and priority and, in each case, to the extent of such Available Funds: (I) first, the Trust Administrator shall distribute an amount up to the Interest Remittance Amount for such Distribution Date in the following order and priority: (1) first, concurrently, to each Class of Interest Only Certificates, pro rata, up to the Current Interest and Swap Provider, any Net Swap Payment owed to the Interest Carry Forward Amount Swap Provider pursuant to the Swap Agreement for each such Class and such Distribution Date; (2) second, concurrently,to the Swap Provider, any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (A3) third, to each Class class of Senior Certificates (other than the Interest Only Certificates), pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; and (B) to the Certificate Insurer, up to the Premium Distribution Amount, if any, for such Distribution Date; (3) third, to the Certificate Insurer, up to the Aggregate Certificate Insurer Reimbursement Amount, if any, for such Distribution Date; (4) fourth, sequentially, to the holders of the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to the Current Interest for each such Class and such Distribution Date. (5II) fifthsecond, following distributions pursuant to Section 4.02(a)(I), the Trust Administrator shall distribute an amount up to the Principal Distribution Amount for such Distribution Date in the following order and priority: (A) on each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, in an amount up to the Principal Distribution Amount for that Distribution DateSwap Provider, concurrently, any Net Swap Payment owed to the following Classes of Certificates, pro rata on the basis of the related Group Principal Distribution Amount: (a) in an amount up Swap Provider pursuant to the Group 1 Principal Distribution Amount Swap Agreement for such Distribution Date, sequentially: (i) first, concurrently, to Date remaining unpaid following distributions of the Group 1 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zeroInterest Remittance Amount; (ii2) second, to the Certificate InsurerSwap Provider, up any Swap Termination Payment owed to the Class 1-A-3 Certificate Insurer Reimbursement Amount, Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the extent not paid pursuant to clauses (2)(B) and Swap Agreement remaining unpaid following distributions of the Interest Remittance Amount; (3) above; and (iii) third, concurrently, to the Group 2 Class A-1 and Class A-2 Certificates, Group 3 Certificates and Group 4 Certificatesconcurrently, pro rata based on Class Certificate Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount)Balance, until their respective Class Certificate Principal Balances are reduced to zero; (b) in an amount up to the Group 2 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 2 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 2-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii4) thirdfourth, concurrentlysequentially, to the Group 1 Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (c) in an amount up to the Group 3 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 3 Certificates, pro rata based on Class Principal Balancethat order, until their respective Class Principal Balances are reduced to zero; and (iiB) On each Distribution Date (a) on or after the Stepdown Date and (b) on which a Trigger Event is not in effect, in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, to the Swap Provider, any Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreement for such Distribution Date remaining unpaid following distributions of the Interest Remittance Amount; (2) second, to the Swap Provider, any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement remaining unpaid following distributions of the Interest Remittance Amount; (3) third, concurrently, to the Group 1 Class A-1 and Class A-2 Certificates, Group 2 Certificates and Group 4 Certificatesconcurrently, pro rata based on Class Certificate Principal Balance (after any payments Balance, in an amount up to such Certificates from the related Group Senior Principal Distribution Amount), until their respective Certificate Principal Balances are reduced to zero; and (4) fourth, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in an amount up to the related Mezzanine Principal Distribution Amount, until their respective Class Principal Balances are reduced to zero; and. (dIII) third, following distributions pursuant to Sections 4.02(a)(I) and 4.02(a)(II), the Trust Administrator shall distribute the Net Monthly Excess Cashflow, if any, in the following order and priority: (1) first, to the Class or Classes of Certificates then entitled to receive distributions of principal pursuant to Section 4.02(a)(II)(A) or 4.02(a)(II)(B) above, in an amount up to any Overcollateralization Maintenance Amount (as included in the Principal Distribution Amount) for such Distribution Date, in the order of priority set forth in Section 4.02(a)(II)(A) or 4.02(a)(II)(B) above, as applicable; (2) second, to the Class A-2 Certificates, in an amount up to the Group 4 Principal Distribution Unpaid Realized Loss Amount for such Distribution DateClass of Certificates; (3) third, sequentially:, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in each case, first, up to the Interest Carry Forward Amount for each such Class and such Distribution Date and second, up to the Unpaid Realized Loss Amount for each such Class of Certificates; (i4) firstfourth, concurrently, to the Group 4 Senior Certificates, pro rata based on the amount of Net Rate Carryover with respect to each such Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurerof Certificates, up to the amount of Net Rate Carryover for each such Class 4-A-2 Certificate Insurer Reimbursement Amountof Certificates; (5) fifth, sequentially, to the extent not paid pursuant Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to clauses (2)(B) and (3) above; andthe amount of Net Rate Carryover for each such Class of Certificates; (iii6) third, concurrentlysixth, to the Group 1 Swap Provider, any Swap Termination Payment owed to the Swap Provider resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (7) seventh, to the Class C Certificates, Group 2 Certificates and Group 3 provided that if such Distribution Date follows the Prepayment Period during which occurs the latest date on which a prepayment charge may be required to be paid in respect of any Mortgage Loans or if such Distribution Date is the final Distribution Date, the Trust Administrator shall first pay $100 to the Holders of the Class P Certificates, pro rata based on until its Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are is reduced to zero; and (8) eighth, any remaining amounts to the Class R-X Certificates to the extent attributable to the Class C or Class P Certificates, and to the Class R Certificates to the extent attributable to any other REMIC created hereby; provided that any distributions pursuant to clauses (1) through (8) of Section 4.02(a)(III) above will be made prior to any distributions from the Cap Account and the Swap Account.

Priorities of Distributions on the Certificates. (a) On each Distribution Date, the Trust Administrator shall withdraw the Available Funds, (to the extent on deposit in the Distribution Account) from the Distribution Account and, pursuant to written instruction received from the Master Servicer as set forth in Section 4.04(a), upon which it may conclusively rely, apply such funds, first to distributions in respect of the Subsidiary REMIC Regular Interests, the Middle REMIC 1 Regular Interests and the Middle REMIC 2 Regular Interests, as provided in the Preliminary Statement, and then to distributions on the Certificates and to the Certificate Insurer in the following order and priority and, in each case, to the extent of such Available Funds: (I) first, the Trust Administrator shall distribute an amount up to the Interest Remittance Amount for such Distribution Date in the following order and priority: (1) first, concurrentlyfor deposit into the Swap Account, to each Class of Interest Only Certificates, pro rata, up an amount equal to the Current Interest and Net Swap Payment owed to the Interest Carry Forward Amount Swap Provider pursuant to the Swap Agreement for each such Class and such Distribution Date; (2) second, concurrently,for deposit into the Swap Account, an amount equal to any Swap Termination Payment owed to the Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (A3) third, to each Class class of Senior Certificates (other than the Interest Only Certificates), pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; and (B) to the Certificate Insurer, up to the Premium Distribution Amount, if any, for such Distribution Date; (3) third, to the Certificate Insurer, up to the Aggregate Certificate Insurer Reimbursement Amount, if any, for such Distribution Date; (4) fourth, sequentially, to the holders of the Class X-0M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, M-6 and Class M-7 and Class M-8 Certificates, in that order, up to the Current Interest for each such Class and such Distribution Date. (5II) fifthsecond, following distributions pursuant to Section 4.02(a)(I), the Trust Administrator shall distribute an amount up to the Principal Distribution Amount for such Distribution Date in the following order and priority: (A) on each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, in for deposit into the Swap Account, an amount up equal to the Principal Distribution Amount for that Distribution Date, concurrently, Net Swap Payment owed to the following Classes of Certificates, pro rata on the basis of the related Group Principal Distribution Amount: (a) in an amount up Swap Provider pursuant to the Group 1 Principal Distribution Amount Swap Agreement for such Distribution Date, sequentially: (i) first, concurrently, to Date taking into account deposits into the Group 1 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zeroSwap Account from the Interest Remittance Amount; (ii2) second, for deposit into the Swap Account, an amount equal to any Swap Termination Payment owed to the Certificate Insurer, up Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Class 1-A-3 Certificate Insurer Reimbursement Swap Agreement after taking into account deposits into the Swap Account from the Interest Remittance Amount, to the extent not paid pursuant to clauses (2)(B) and ; (3) above; and (iii) third, concurrently, to the Group 2 Certificates, Group 3 Class AB Certificates (allocated among the Class AB Certificates as set forth below) and Group 4 Certificatesthe Class AC Certificates (allocated among the Class AC Certificates as set forth below), pro rata based on aggregate Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (b) in an amount up to the Group 2 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 2 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 2-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (c) in an amount up to the Group 3 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 3 Certificates, pro rata based on Class Principal BalanceBalances, until their respective Class Principal Balances are reduced to zero; and (ii4) secondfourth, concurrentlysequentially, to the Group 1 Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, Group 2 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount)in that order, until their respective Class Principal Balances are reduced to zero; and (dB) On each Distribution Date (a) on or after the Stepdown Date and (b) on which a Trigger Event is not in effect, in the following order of priority, in an amount up to the Group 4 Principal Distribution Amount Amount: (1) first, for deposit into the Swap Account, an amount equal to the Net Swap Payment owed to the Swap Provider pursuant to the Swap Agreement for such Distribution Date, sequentially: (i) first, concurrently, to Date taking into account deposits into the Group 4 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zeroSwap Account from the Interest Remittance Amount; (ii2) second, for deposit into the Swap Account, an amount equal to any Swap Termination Payment owed to the Certificate Insurer, up Swap Provider not resulting from a Swap Provider Trigger Event pursuant to the Class 4-A-2 Certificate Insurer Reimbursement Swap Agreement after taking into account deposits into the Swap Account from the Interest Remittance Amount, to the extent not paid pursuant to clauses (2)(B) and ; (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 2 Class AB Certificates (allocated among the Class AB Certificates as set forth below) and Group 3 Certificatesthe Class AC Certificates (allocated among the Class AC Certificates as set forth below), pro rata based on aggregate Class Principal Balance (after any payments Balances, in an amount up to such Certificates from the related Group Senior Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; and (4) fourth, sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in an amount up to the related Mezzanine Principal Distribution Amount, until their respective Class Principal Balances are reduced to zero. All principal distributions on the Class AB Certificates will be allocated, sequentially, to the Class A-1 and Class A-2 Certificates, in that order, until their respective Class Principal Balances are reduced to zero. All principal distributions on the Class AC Certificates will be allocated, sequentially, to the Class A-3 and Class A-4 Certificates, in that order, until their respective Class Principal Balances are reduced to zero. (III) third, following distributions pursuant to Sections 4.02(a)(I) and 4.02(a)(II), the Trust Administrator shall distribute the Net Monthly Excess Cashflow, if any, in the following order and priority: (1) first, to the Class or Classes of Certificates then entitled to receive distributions of principal pursuant to Section 4.02(a)(II)(A) or 4.02(a)(II)(B) above, in an amount up to any Overcollateralization Maintenance Amount (as included in the Principal Distribution Amount) for such Distribution Date, in the order of priority set forth in Section 4.02(a)(II)(A) or 4.02(a)(II)(B) above, as applicable; (2) second, to the Class AC Certificates, pro rata based on the amount of Unpaid Realized Loss Amount with respect to each such Class of Certificates, in an amount up to the Unpaid Realized Loss Amount for each such Class of Certificates; (3) third, sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in each case, first, up to the Interest Carry Forward Amount for each such Class and such Distribution Date, and second, up to the Unpaid Realized Loss Amount for each such Class of Certificates; (4) fourth, concurrently, to the Senior Certificates, pro rata based on the amount of Net Rate Carryover with respect to each such Class of Certificates, up to the amount of Net Rate Carryover for each such Class of Certificates; (5) fifth, sequentially, to the Class M-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, up to the amount of Net Rate Carryover for each such Class of Certificates; (6) sixth, to the Swap Provider, any Swap Termination Payment owed to the Swap Provider resulting from a Swap Provider Trigger Event pursuant to the Swap Agreement; (7) seventh, to the Class C Certificates, provided that if such Distribution Date follows the Prepayment Period during which occurs the latest date on which a prepayment charge may be required to be paid in respect of any Mortgage Loans or if such Distribution Date is the final Distribution Date, the Trust Administrator shall first pay $100 to the Holders of the Class P Certificates, until its Class Principal Balance is reduced to zero; and (8) eighth, any remaining amounts to the Class R-X Certificates to the extent attributable to the Class C or Class P Certificates, and to the Class R Certificates to the extent attributable to any other REMIC created hereby; provided that any distributions pursuant to clauses (1) through (8) of Section 4.02(a)(III) above will be made prior to any distributions from the Cap Account and the Swap Account.

Priorities of Distributions on the Certificates. (a) Distributions of Interest On each Distribution Date, the Trust Securities Administrator shall withdraw from the Available Funds, Certificate Account (to the extent on deposit in funds are available therein) the Distribution Account) from the Distribution Account and, pursuant to written instruction received from the Master Servicer as set forth in Section 4.04(a), upon which it may conclusively rely, Interest Remittance Amount and apply such funds, first to distributions in respect of the Subsidiary REMIC Regular Interests, the Middle REMIC 1 Regular Interests and the Middle REMIC 2 Regular Interests, as provided in the Preliminary Statement, and then to distributions on the Certificates and to the Certificate Insurer amounts in the following order of priority and priority and, in each case, to the extent of such Available Funds: (1) first, concurrently, to each Class of Interest Only Certificates, pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; (2) second, concurrently, (A) to each Class of Senior Certificates (other than the Interest Only Certificates), pro rata, up to the Current Interest and the Interest Carry Forward Amount for each such Class and such Distribution Date; and (B) to the Certificate Insurer, up to the Premium Distribution Amount, if any, for such Distribution Date; (3) third, to the Certificate Insurer, up to the Aggregate Certificate Insurer Reimbursement Amount, if any, for such Distribution Date; (4) fourth, sequentially, to the holders of the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, up to the Current Interest for each such Class and such Distribution Date. (5) fifth, (A) on each Distribution Date (a) prior to the Stepdown Date or (b) on which a Trigger Event is in effect in the following order of priority, in an amount up to the Principal Distribution Amount: (1) first, in an amount up to the Principal Distribution Amount for that Distribution Date, concurrently, to the following Classes of Certificates, pro rata on the basis of the related Group Principal Distribution Amount: (a) in an amount up to the Group 1 Principal Distribution Amount for such Distribution Date, sequentially: (i) funds: first, concurrently, to the Group 1 Senior Certificates, pro rata based on Class Principal Balancerata, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Accrued Certificate Insurer, up to the Class 1-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (b) in an amount up to the Group 2 Principal Distribution Amount Interest thereon for such Distribution Date, sequentially: (i) first, concurrently, to the Group 2 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) second, to the Certificate Insurer, up to the Class 2-A-3 Certificate Insurer Reimbursement Amount, to the extent not paid pursuant to clauses (2)(B) and (3) above; and (iii) third, concurrently, to the Group 1 Certificates, Group 3 Certificates and Group 4 Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; (c) in an amount up to the Group 3 Principal Distribution Amount for such Distribution Date, sequentially: (i) first, concurrently, to the Group 3 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; and (ii) second, concurrently, to the Group 1 Certificates, Group 2 Certificates and Group 4 Senior Certificates, pro rata based on Class Principal Balance (after any payments to such Certificates from rata, the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; and (d) in an amount up to the Group 4 Principal Distribution Interest Carry Forward Amount thereon for such Distribution Date, sequentially: (i) first, concurrently; third, to the Group 4 Class M-1 Certificates, pro rata based on Class Principal Balance, until their respective Class Principal Balances are reduced to zero; (ii) secondthe Accrued Certificate Interest thereon for such Distribution Date; fourth, to the Class M-2 Certificates, the Accrued Certificate InsurerInterest thereon for such Distribution Date; fifth, up to the Class 4-A-2 M-3 Certificates, the Accrued Certificate Insurer Reimbursement AmountInterest thereon for such Distribution Date; sixth to the Class M-4 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; seventh, to the extent not paid pursuant to clauses (2)(B) and (3) aboveClass M-5 Certificates, the Accrued Certificate Interest thereon for such Distribution Date; and (iii) third, concurrentlyeighth, to the Group 1 Class M-6 Certificates, Group 2 Certificates and Group 3 the Accrued Certificate Interest thereon for such Distribution Date; ninth, to the Class B-1 Certificates, pro rata based on Class Principal Balance (the Accrued Certificate Interest thereon for such Distribution Date; and tenth, the amount, if any, of the Interest Remittance Amount remaining after any payments application with respect to such Certificates from the related Group Principal Distribution Amount), until their respective Class Principal Balances are reduced to zero; andpriorities set forth above will be applied as described below under Section 5.02(c) hereof.