Common use of Lower Tier I-REMIC Distributions Clause in Contracts

Lower Tier I-REMIC Distributions. On each Distribution Date, an amount equal to the sum of (i) the aggregate of the Certificate Distribution Amounts for such Distribution Date (including any Delinquency Advances but exclusive of any amount payable by Xxxxxx Xxx pursuant to the Guaranty) with respect to each MBS Trust listed on Schedule 1 to the related Issue Supplement and (ii) the aggregate of (x) the related Guaranty Fees for such Distribution Date and (y) the Servicing Fees for such Distribution Date (with such Servicing Fees deemed to accrue at the Contributed Servicing Fee Rate specified in the related Issue Supplement) will be allocated among the I- REMIC Interests in any Lower Tier I-REMIC in the following order of priority: first, to each Lower Tier I-REMIC Mirror Interest, the interest accrued thereon to the extent paid or advanced (but only to the extent advanced by a party other than Xxxxxx Xxx) with respect to the Mortgage Loan to which it corresponds; second, to each Lower Tier I-REMIC Mirror Interest in reduction of the principal balance thereof until reduced to zero, the principal paid or advanced (but only to the extent advanced by a party other than Xxxxxx Xxx) with respect to the Mortgage Loan to which it corresponds; and third, any remaining amount, to the LT-R Interest issued by such Lower Tier I- REMIC.

Lower Tier I-REMIC Distributions. On each Distribution Date, an amount equal to the sum of (i) the aggregate of the Certificate Distribution Amounts for such Distribution Date (including any Delinquency Advances but exclusive of any amount payable by Xxxxxx Xxx Mae pursuant to the Guaranty) with respect to each MBS Trust listed on Schedule 1 to the related Issue Supplement and (ii) the aggregate of (x) the related Guaranty Fees for such Distribution Date and (y) the Servicing Fees for such Distribution Date (with such Servicing Fees deemed to accrue at the Contributed Servicing Fee Rate specified in the related Issue Supplement) will be allocated among the I- REMIC Interests in any Lower Tier I-REMIC in the following order of priority: first, to each Lower Tier I-REMIC Mirror Interest, the interest accrued thereon to the extent paid or advanced (but only to the extent advanced by a party other than Xxxxxx Xxx) with respect to the Mortgage Loan to which it corresponds; second, to each Lower Tier I-REMIC Mirror Interest in reduction of the principal balance thereof until reduced to zero, the principal paid or advanced (but only to the extent advanced by a party other than Xxxxxx XxxMae) with respect to the Mortgage Loan to which it corresponds; and third, any remaining amount, to the LT-R Interest issued by such Lower Tier I- REMIC.