Common use of Principal Sharing Groups Clause in Contracts

Principal Sharing Groups. The Servicer will allocate Shared Principal Collections for each Payment Date to each Principal Sharing Series in a particular Principal Sharing Group, pro rata, in proportion to the Principal Shortfall, if any, for each such Series. On each Payment Date, from an amount for each Principal Sharing Group equal to the excess, if any, of (i) the Shared Principal Collections for such Payment Date, over (ii) the aggregate Principal Shortfall for all Series in such Principal Sharing Group for such Payment Date, the Servicer will (A) deposit such excess into the Excess Funding Account to the extent necessary, without duplication, to cause the Net Adjusted Pool Balance to equal the Required Pool Balance as of such Payment Date pursuant to Section 8.3(b)(ii), and (B) distribute any remainder to the Trust Paying Agent for distribution to the holders of the Depositor Interest in accordance with the Trust Agreement.