Common use of Distributions of Available Funds Clause in Contracts

Distributions of Available Funds. On each Distribution Date, the Securities Administrator shall withdraw from the Certificate Account (to the extent funds are available therein) Available Funds and apply such amounts in the following order of priority and to the extent of such funds: first, concurrently, to the Class A-1 and Class A-2 Certificates, pro rata, the Accrued Certificate Interest thereon for such Distribution Date; second, concurrently, to the Class A-1 and Class A-2 Certificates, pro rata, the Interest Carryforward Amount thereon for such Distribution Date; third, sequentially, to the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-0 xxx Xxxxx X-0 Certificates, in that order, the Accrued Certificate Interest thereon for such Distribution Date; fourth, concurrently, to the Class A-1 and Class A-2 Certificates, pro rata, the Senior Principal Distribution Amount, until their Class Certificate Balances have been reduced to zero; fifth, either:

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Banc of America Funding 2007-B Trust)

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