Common use of Interest Shortfall Clause in Contracts

Interest Shortfall. Notwithstanding anything in the Standard Terms to the contrary, on each Distribution Date, before any distributions are made on the REMIC Interests and the Certificates, Month End Interest Shortfall not covered by compensating interest from Monthly Advances and Servicemembers Shortfall with respect to any Mortgage Loan shall be allocated pro rata among the Classes of the related REMIC based on the amount of interest otherwise owing thereto in reduction of that amount. Such amounts shall be allocated in the following order of priority: (1) sequentially, to the Subordinate Certificates, in the inverse order of their priority and (2) to the related Classes of Senior Certificates, pro rata, in proportion to the Accrued Certificate Interest otherwise distributable thereon.