Distributions on the Group I Certificates Clause Samples

Distributions on the Group I Certificates. (a) On each Distribution Date, with respect to Loan Group I, an amount equal to the Interest Funds and Principal Funds for such Distribution Date shall be withdrawn by the Securities Administrator from the Distribution Account in respect of Loan Group I to the extent of funds on deposit therein and distributed in the following order of priority: First, Interest Funds will be distributed, in the following manner and order of priority: 1. From Interest Funds, to the Class I-A-1 Certificates and Class I-A-2 Certificates, the Current Interest and then any Interest Carry Forward Amount for each such Class, on a pro rata basis, based on the Current Interest and Interest Carry Forward Amount owed to each such Class; 2. From remaining Interest Funds, to the Class I-M-1, Class I-M-2, Class I-B-1, Class I-B-2 and Class I-B-3 Certificates, sequentially, in that order, the Current Interest for each such Class; 3. Any Excess Spread, to the extent necessary to cause the Overcollateralization Amount to equal to the Overcollateralization Target Amount, will be the Extra Principal Distribution Amount and will be included as part of the Principal Distribution Amount and distributed in accordance with second (A) and (B) below; and 4. Any Remaining Excess Spread will be applied, together with the Overcollateralization Release Amount, as Excess Cashflow pursuant to clauses Third through Thirteenth below. On any Distribution Date, any shortfalls resulting from the application of the Relief Act and any Prepayment Interest Shortfalls to the extent not covered by Compensating Interest Payments will be allocated as set forth in the definition of Current Interest herein. Second, to pay as principal on the Certificates entitled to payments of principal, in the following order of priority: (A) For each Distribution Date (i) prior to the Stepdown Date or (ii) on which a Trigger Event is in effect, from Principal Funds and the Extra Principal Distribution Amount for such Distribution Date: 1. To the Class I-A-1 Certificates and Class I-A-2 Certificates, on a pro rata basis in accordance with their respective Certificate Principal Balances, an amount equal to the Principal Distribution Amount until the Certificate Principal Balance of each such Class is reduced to zero; 2. To the Class I-M-1 Certificates, any remaining Principal Distribution Amount until the Certificate Principal Balance thereof is reduced to zero; 3. To the Class I-M-2 Certificates, any remaining Principal Distribution ...