Flow of Funds Clause Samples

Flow of Funds. 69 Section 7.04 [Reserved].......................................................................72 Section 7.05

Flow of Funds. 59 Section 7.4.

Flow of Funds. (a) The Trustee shall deposit in the Certificate Account without duplication, upon receipt, any Insured Payments, the proceeds of any liquidation of the assets of the Trust, all remittances made to the Trustee pursuant to Section 8.08(d)(ii) with respect to Monthly Remittance Amount remitted by the Servicer. (b) Subject to any superseding provisions of clause (c) below during the continuance of a Certificate Insurer Default, with respect to funds on deposit in the Certificate Account, on each Payment Date, the Trustee shall make the following allocations, disbursements and transfers from amounts deposited therein pursuant to subsection (a) in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations, transfers and disbursements have occurred: (i) first, on each Payment Date from amounts then on deposit in the Certificate Account, (A) the Trustee Fee and the Trustee Reimbursable Expenses shall be paid to the Trustee, and (B) provided that no Certificate Insurer Default has occurred and is continuing the Premium Amount for such Payment Date shall be paid to the Certificate Insurer; (ii) second, on each Payment Date, the Trustee shall allocate an amount equal to the sum of (x) the Total Monthly Excess Spread with respect to such Payment Date plus (y) any Subordination Reduction Amount with respect to such Payment Date (such sum being the "Total Monthly Excess Cashflow" with respect to such Payment Date) in the following order of priority: (A) first, such Total Monthly Excess Cashflow shall be allocated to the payment of the Principal Distribution Amount pursuant to clause (b)(iv) below (excluding any related Subordination Increase Amount) in an amount equal to the amount, if any, by which (x) the Principal Distribution Amount (excluding any related Subordination Increase Amount) exceeds (y) the Available Funds (net of Trustee Fees, the Premium Amount, the Servicing Fee, the Trustee Reimbursable Expenses and Current Interest) and shall be paid from the Upper-Tier Distribution Account as part of the Principal Distribution Amount pursuant to clause (iv)(D) below (the amount of such difference being the "Available Funds Shortfall"); (B) second, any portion of the Total Monthly Excess Cashflow remaining after the allocation described in clause (A) above shall be paid from the Upper-Tier Distribution Account pursuant to clause (iv)(A) below to the Certificate Insurer...

Flow of Funds. (i) The Trustee shall deposit to the Certificate Account, without duplication, upon receipt, the proceeds of any liquidation of the assets of the Trust, all remittances made to the Trustee pursuant to Section 8.08(d)(ii) and the Monthly Remittance Amount remitted by the Servicer. (ii) On each Payment Date, the Trustee shall transfer the Lower-Tier Distribution Amount from the Certificate Account to the Upper-Tier Distribution Account. (b) With respect to the Upper-Tier Distribution Account on each Payment Date, the Trustee shall make the following disbursements from the Interest Remittance Amount transferred thereto pursuant to subsection (a)(ii), in the following order of priority, and each such disbursement shall be treated as having occurred only after all preceding disbursements have occurred: (i) First, to the Trustee, the Trustee Fee; (ii) Second, to the Owners of the Class A Certificates (including the Class A-10IO Certificates), the related Class A Current Interest plus the related Class A Interest Carry Forward Amount with respect to each such Class of Class A Certificates without any priority among such Class A Certificates; provided, that if the Interest Amount Available is not sufficient to make a full distribution of interest with respect to all Classes of the Class A Certificates, the Interest Amount Available will be distributed among the outstanding Classes of Class A Certificates pro rata based on the aggregate amount of interest due on each such Class, and the amount of the shortfall will be carried forward; (iii) Third, to the extent of the Interest Amount Available then remaining, to the Owners of the Class M-1 Certificates, the Class M-1 Current Interest; (iv) Fourth, to the extent of the Interest Amount Available then remaining, to the Owners of the Class M-2 Certificates, the Class M-2 Current Interest; (v) Fifth, to the extent of the Interest Amount Available then remaining, to the Owners of the Class B Certificates, the Class B Current Interest; and (vi) Sixth, the Monthly Excess Interest Amount shall be applied or distributed as provided in subsection (d) of this Section 7.03. (c) With respect to the Upper-Tier Distribution Account, on each Payment Date, the Trustee shall make the following disbursements from amounts relating to principal transferred thereto pursuant to subsection (a)(ii), in the following order of priority and each such disbursement shall be treated as having occurred only after all preceding disbursements have o...

Flow of Funds. 66 Section 7.04 Pre-Funding Account and Capitalized Interest Account..................... 71 Section 7.05

Flow of Funds. (i) The Trustee shall deposit in the Certificate Account without duplication, upon receipt, with respect to Group I, the proceeds of any liquidation of the assets of the Trust insofar as such assets relate to Group I, all remittances made to the Trustee pursuant to Sections 8.08(e), 8.09 and 8.10 with respect to Group I and the Group I Monthly Remittance Amount remitted by the Servicer. (ii) The Trustee shall deposit in the Certificate Account without duplication, upon receipt, with respect to Group II, the proceeds of any liquidation of the assets of the Trust insofar as such assets relate to Group II, all remittances made to the Trustee pursuant to Sections 8.08(e), 8.09 and 8.10 with respect to Group II and the Group II Monthly Remittance Amount remitted by the Servicer. (b) On each Distribution Date, the Trustee shall make the following allocations, disbursements and transfers (based solely on information provided by the Servicer in writing), from amounts deposited in the Certificate Account pursuant to subsection (a) in the following order of priority, and each such allocation, transfer and disbursement shall be treated as having occurred only after all preceding allocations: A. With respect to amounts in the Certificate Account received with respect to Group I: 1. To the Trustee, the Trustee Fee and any Transition Expenses for Group I. 2. Concurrently, to each Class of Group I Certificates, the related Class Monthly Interest Amount and any related Class Interest Carryover Shortfall for the Distribution Date, allocated among each such Class of Group I Certificates on a pro rata basis based on each Group I Certificate’s Class Monthly Interest Amount and Class Interest Carryover Shortfall without priority among such Group I Certificates. 3. The remaining amount pursuant to clause C. below. B. With respect to amounts in the Certificate Account received with respect to Group II: 1. To the Trustee, the Trustee Fee and any Transition Expenses for Group II. 2. Concurrently, to each Class of Group II Certificates, the related Class Monthly Interest Amount and any related Class Interest Carryover Shortfall for the Distribution Date, allocated among each such Class of Group II Certificates on a pro rata basis based on each Group II Certificate’s Class Monthly Interest Amount and Class Interest Carryover Shortfall without priority among such Group II Certificates. 3. The remaining amount pursuant to clause C. below. C. With respect to any remaining amounts in th...

Flow of Funds. SECTION 4.01 Distributions.

Flow of Funds. Receipt by the Administrative Agent of a sources and uses table and payment instructions with respect to each wire transfer to be made by the Administrative Agent on behalf of the Lenders or the Borrower on the Closing Date setting forth the amount of such transfer, the purpose of such transfer, the name and number of the account to which such transfer is to be made, the name and ABA number of the bank or other financial institution where such account is located and the name and telephone number of an individual that can be contacted to confirm receipt of such transfer.

Flow of Funds. 128 Section 4.01 Distributions..............................................................................128 Section 4.02