Common use of Application of Trust Funds Clause in Contracts

Application of Trust Funds. (a) The Certificate Paying Agent shall distribute to the Certificateholder any amounts received by the Issuer pursuant to Section 5.03(d) of the Indenture payable in respect of the Certificate in accordance with Section 9.01(c). For the avoidance of doubt, no distributions shall be made with respect to the Certificate until payment (or provision for payment) of (i) all amounts payable by the Trust with respect to the Notes under the Indenture, (ii) all amounts payable by the Trust to Freddie Mac under the Collateral Administration Agreement (including any contingent amounts that may become due and payable after any date of determination) and (iii) all amounts payable by the Trust under the other Basic Documents has been made in full or discharged.

Application of Trust Funds. (a) The Certificate Paying Agent shall distribute to the Certificateholder any amounts received by the Issuer pursuant to Section 5.03(d) of the Indenture payable in respect of the Certificate in accordance with Section 9.01(c). For the avoidance of doubt, no distributions shall be made with respect to the Certificate until payment (or provision for payment) of (i) all amounts payable by the Trust with respect to the Notes under the Indenture, (ii) all amounts payable by the Trust to Freddie Xxxxxxx Mac under the Collateral Administration Agreement (including any contingent amounts that may become due and payable after any date of determination) and (iii) all amounts payable by the Trust under the other Basic Documents has been made in full or discharged.

Application of Trust Funds. (a) The Certificate Paying Agent shall distribute to the Certificateholder any amounts received by the Issuer pursuant to Section 5.03(d) of the Indenture payable in respect of the Certificate in accordance with Section 9.01(c). For the avoidance of doubt, no distributions shall will be made with respect to the Certificate until payment (or provision for payment) of (i) all amounts payable by the Trust with respect to the Notes under the Indenture, (ii) all amounts payable by the Trust to Freddie Mac under the Collateral Administration Agreement (including any contingent amounts that may become due and payable after any date of determination) and (iii) all amounts payable by the Trust under the other Basic Documents has been made in full or discharged.

Application of Trust Funds. (a) The Certificate Paying Agent shall distribute to the Certificateholder any amounts received by the Issuer pursuant to Section 5.03(d) of the Indenture payable in respect of the Certificate in accordance with Section 9.01(c). For the avoidance of doubt, no distributions shall will be made with respect to the Certificate until payment (or provision for payment) of (i) all amounts payable by the Trust with respect to the Notes under the Indenture, (ii) all amounts payable by the Trust to Freddie Xxxxxxx Mac under the Collateral Administration Agreement (including any contingent amounts that may become due and payable after any date of determination) and (iii) all amounts payable by the Trust under the other Basic Documents has been made in full or discharged.