Common use of REMIC 4 Clause in Contracts

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CE, Class P and Class R Certificates), except that the Pass-Through Rate of any P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap Carryover Amount, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IO, Class T4-A2IO, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1, Class T3-A2, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 and Class T3-B Interests over interest distributable on the Class T4-A1, Class T4-A2, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 and Class T4-B Interests, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CE, Class P and Class R Certificates), except that the Pass-Through Rate of any P&I REMIC 4 Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap Carryover AmountAmount (other than from any Yield Maintenance Agreement Payment), whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: : (i) the Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-4 Interest shall be entitled to all distributions on the Class T3-4, T3-101 and T3-102 Interests; (iii) the Class T4-A1IO, Class T4-A1AIO, Class T4-A2IO, Class T4-A3IO, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO M4IO, Class T4-M5IO and Class T4-BIO M6IO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1, Class T3-A1A, Class T3-A2, Class T3-A3, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 M4, Class T3-M5 and Class T3-B M6 Interests over interest distributable on the Class T4-A1, Class T4-A1A, Class T4-A2, Class T4-A3, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 M4, Class T4-M5 and Class T4-B M6 Interests, respectively; (iv) on any Distribution Date on which the Pool Cap exceeds the Class A-1 REMIC Pass-Through Rate, the Class T4-A1IO Interest shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on the Class T3-A1 Interest over the interest distributable on the portion of the Class T4-A1 Interest corresponding to the Class T3-A1 Interest; and (v) on any Distribution Date on which the Pool Cap exceeds the Class A-2 REMIC Pass-Through Rate, the Class T4-A2IO Interest shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on the Class T3-A2 Interest over the interest distributable on the portion of the Class T4-A2 Interest corresponding to the Class T3-A2 Interest. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I other REMIC 4 Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest 4, Class T3-101 and Class T3-102 Interests pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Class T4-A1, Class T-4A1A, Class T4-A2, Class T4-A3, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4, Class T4-M5 and Class T4-M6 Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class AAIO and Class AIO-IO INV Certificates shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CE, Class P and Class R Certificates), except that the Pass-Through Rate of any P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap Carryover AmountAmount (other than from any Yield Maintenance Agreement Payment), whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-1010, Class T4-1020, Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-1010, Class T3-1020, Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IO, Class T4-A2IO, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO M4IO, Class T4-M5IO, Class T4-M6IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1A1 and Class T3-101 Interests (in the aggregate), Class T3-A2A2 and Class T3-102 Interests (in the aggregate), Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 M4, Class T3-M5, Class T3-M6 and Class T3-B Interests over interest distributable on the Class T4-A1, Class T4-A2, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 M4, Class T4-M5, Class T4-M6 and Class T4-B Interests, respectively; (iii) on any Distribution Date on which the Group 1 Cap exceeds the Class A-1 REMIC Pass-Through Rate, the Class T4-101 Interest shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on the Class T3-101 Interest over the interest distributable on the portion of the Class T4-A1 Interest corresponding to the Class T3-101 Interest; (iv) on any Distribution Date on which the Pool Cap exceeds the Class A-1 REMIC Pass-Through Rate, the Class T4-A1IO Interest shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on the Class T3-A1 Interest over the interest distributable on the portion of the Class T4-A1 Interest corresponding to the Class T3-A1 Interest; (v) on any Distribution Date on which the Group 2 Cap exceeds the Class A-2 REMIC Pass-Through Rate, the Class T4-102 Interest shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on the Class T3-102 Interest over the interest distributable on the portion of the Class T4-A2 Interest corresponding to the Class T3-102 Interest; and (vi) on any Distribution Date on which the Pool Cap exceeds the Class A-2 REMIC Pass-Through Rate, the Class T4-A2IO Interest shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on the Class T3-A2 Interest over the interest distributable on the portion of the Class T4-A2 Interest corresponding to the Class T3-A2 Interest. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular InterestsInterests and the Class AIO and Class AIO-INV Certificates. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CER, Class P X and Class R N Certificates), except that the Pass-Through Rate of any Class T4 P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap LIBOR Carryover AmountAmount or Rate Payment, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by to the Class CE CertificatesX/N Interest, then as paid by the Class CE Certificates X/N Interest to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest4, Class T4-5 and Class T4-6 Interests, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-4, Class T4-5, Class T4-6, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-5, Class T3-6, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IOA1AIO, Class T4-A2IOA1FIO, Class T4-A2FIO, Class T4-M1IO, Class T4T5-M2-IO, Class T4-M3IO, Class T4-M4IO IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1A1A, Class T3-A2A1F, Class T3-A2F, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 M2 and Class T3-B Interests over interest distributable on the Class T4-A1A1A Class T4-A1F, Class T4-A2A2F, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 M2 and Class T4-B Interests, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.be

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CE, Class P CE and Class R Certificates), except that the Pass-Through Rate of any P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap Carryover Amount, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IO, Class T4-A2IO, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO M2IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1, Class T3-A2, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 M2 and Class T3-B Interests over interest distributable on the Class T4-A1, Class T4-A2, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 M2 and Class T4-B Interests, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I other REMIC 4 Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a . Any portion of such amount is applied the Available Funds remaining in REMIC 4 on a Distribution Date shall be distributed to pay any Cap Carryover Amount. Amounts deemed distributed the Class R Certificate in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4Class R-4 Interest.

REMIC 4. On each Distribution Date, REMIC 4 shall be deemed to have received the timing amounts deemed distributed in respect of the REMIC 3 Regular Interests and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts the REMIC 2 IO Interests. Principal, interest, shortfalls and Realized Loss Amortization Amounts on each Class of Losses shall be deemed paid to and allocated among the REMIC 4 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of Carryover Amounts, which shall be deemed paid in respect of the REMIC 4 ComponentsX/N Interest) are paid or allocated in respect of the related Certificates (the REMIC 4 AV-1 Interest being related to the Class AV-1 Certificates, the REMIC 4 M-1 Interest being related to the Class M-1 Certificates, the REMIC 4 M-2 Interest being related to the Class M-2 Certificates, the REMIC 4 B-1 Interest being related to the Class B-1 Certificates, the REMIC 4 B-2 Interest being related to the Class B-2 Certificates and the REMIC 4 B-3 Interest being related to the Class A-IO Certificates B-3 Certificates). On each Distribution Date, principal shall be identical paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the timing, amounts principal amount of the REMIC 4 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and allocations on the corresponding Classes of Realized Losses have been allocated to such Certificates (other than the Class CE, X or Class P and N Certificates). The portion of Available Funds remaining in REMIC 4 on a Distribution Date shall be distributed to the Class R Certificates), except that the Pass-Through Rate of any P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap Carryover Amount, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 R-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IO, Class T4-A2IO, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1, Class T3-A2, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 and Class T3-B Interests over interest distributable on the Class T4-A1, Class T4-A2, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 and Class T4-B Interests, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CER, Class P X and Class R N Certificates), except that the Pass-Through Rate of any Class T4 P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap LIBOR Carryover AmountAmount or Rate Payment, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by to the Class CE CertificatesX/N Interest, then as paid by the Class CE Certificates X/N Interest to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest4, Class T4-5 and Class T4-6 Interests, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-4, Class T4-5, Class T4-6, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-5, Class T3-6, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IOA1AIO, Class T4-A2IOA1FIO, Class T4-A2FIO, Class T4-M1IO, Class T4T5-M2-IO, Class T4-M3IO, Class T4-M4IO IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1A1A, Class T3-A2A1F, Class T3-A2F, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 M2 and Class T3-B Interests over interest distributable on the Class T4-A1A1A Class T4-A1F, Class T4-A2A2F, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 M2 and Class T4-B Interests, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable Class T4 P&I Regular Interests. Realized Losses allocated to the Class T4-4 Interest 4, Class T4-5 and Class T4-6 Interests shall equal Realized Losses allocated to the Class T3-4 Interest 4, Class T3-5 and Class T3-6 Interests pursuant to Section 4.08(b4.10(b). The Class CE Certificates X/N Interest shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap LIBOR Carryover AmountAmount or Rate Payment. Amounts deemed distributed in respect of the Class T4 P&I Regular Interests and to the REMIC 4 Components (in respect of the Class X/N Interest) shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates shall be identical to the timing, timing and amounts of principal and allocations interest distributions on the corresponding Classes of Certificates (other than the Class CER, Class P X and Class R BB Certificates), except that as follows: (i) the Pass-Through Rate of any P&I Regular the Class T4-A1A Interest shall not exceed the pass-through rate Maximum Rate as set forth in the first sentence of the definition thereof, and any amount paid in respect of a the Class of Offered P&I A-1A Certificates as a Cap LIBOR Carryover Amount, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by to the Class CE CertificatesX/BB Interest as a Monthly Excess Interest Amount, then as paid by the Class CE Certificates X/BB Interest to the applicable Class of Offered P&I A-1A Certificates as a payment from the Grantor Trust outside of the REMICs. Interest ; (and in the case of the Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (iii) the Class T4-4, Class T4-115, Class T4-12 6 and Class T4-13 7 Interests shall be entitled to all distributions on the Class T3-4, Class T3-115, Class T3-12 6 and Class T3-13 7 Interests, respectively; and (iiiii) the Class T4-A1IO11, Class T4-A2IO12, Class T4-M1IO13, Class T4-M2-IO14, Class T4T5-M3IO, Class T4-M4IO 15 and Class T4-BIO 16 Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1T3A-1A, Class T3A-1F, Class T3-A2A-2F, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 M2 and Class T3-B Interests over interest distributable on the Class T4-A1T4A-1A Interest and the Class A-1F, Class T4-A2A-2F, Class T4-M1M-1, Class T4-M2, Class T4-M3, Class T4-M4 M-2 and Class T4-B InterestsCertificates, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates X/BB Interest shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap the LIBOR Carryover Amount. Amounts deemed Any portion of the Available Funds remaining in REMIC 4 on a Distribution Date shall be distributed to the Class R Certificates in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4Class R-4 Interest.

REMIC 4. On each Distribution Date, the timing and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts and Realized Loss Amortization Amounts on each Class the Classes of REMIC 4 Regular Interests (other than the REMIC 4 Components) and the Class A-IO Certificates identified as Corresponding Classes shall be identical to the timing, amounts and allocations on the corresponding Classes of Certificates (other than the Class CE, Class P and Class R Certificates), except that the Pass-Through Rate of any P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class Corresponding Classes of Offered P&I Certificates as a Cap Carryover Amount, whether with respect REMIC 5 Regular Interests pursuant to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICsSection 4.08(a). Interest (and in the case of the The Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-45, Class T4-11, Class T4-12 6 and Class T4-13 7 Interests shall be entitled to all distributions on the Class T3-45, Class T3-11, Class T3-12 6 and Class T3-13 7 Interests, respectively; . Interest shortfalls and (ii) losses allocable to interest will reduce interest payable, first on the Class T4-A1IO4 Interest (if then receiving interest), second, on the Class T4-5, Class T4-A2IO6 and Class T4-7 Interests, pro rata, third, on the Class T4-B, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO M2 and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1M1 Interests, Class T3-A2in that order, Class T3-M1and fourth, Class T3-M2, Class T3-M3, Class T3-M4 and Class T3-B Interests over interest distributable on the Class T4-A1, Class T4-A2, Class T4-M1A3, Class T4-A4 and Class T4-A5 Interests, pro rata; provided, that the portion of the interest payable on the Class T4-B, Class T4-M2, Class T4-M3M1, Class T4-M4 A1, Class T4-A2, Class T4-A2F, Class T4-A4 and Class T4-B InterestsA5 Interests attributable to the Class T5-A1-IO, respectively. Any Class T5-A2-IO, Class T5-A3-IO, Class T5-A4-IO, Class T5-A5-IO, Class T5-M1-IO, Class T5-M2-IO, Class T5-B-IO Interests shall bear interest shortfalls of interest, including any Realized Losses allocated and losses allocable to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, interest pro rata based on interest accrued, before being allocated and prior to the applicable P&I Regular allocation of any remaining shortfalls to such Interests. Amounts of principal and interest distributed in respect of the Class T4-4 Interest shall equal such amounts distributed to the Class T3-4 Interest, reduced by any allocation of interest shortfalls to the Class T4-4 Interest pursuant to the preceding sentence. Realized Losses allocated to the Class T4-4 Interest shall will equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b4.08(c). The Class CE Certificates shall be Amounts in the Distribution Account deemed to receive the aggregate of the amounts distributable distributed in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust REMIC 5 for distribution in accordance with Sections 4.01 and 4.

REMIC 4. On each Distribution Date, REMIC 4 shall be deemed to have received the timing amounts deemed distributed in respect of the REMIC 3 Regular Interests and amounts of principal and interest distributions and allocations of Applied Realized Loss Amounts the REMIC 2 IO Interests. Principal, interest, shortfalls and Realized Loss Amortization Amounts on each Class of Losses shall be deemed paid to and allocated among the REMIC 4 Regular Interests in the same manner as such items (other than payments to the Cap Carryover Certificates in respect of LIBOR Carryover Amounts, which shall be deemed paid in respect of the REMIC 4 ComponentsX/N Interest if made pursuant to Section 4.02(b)(xxvii) or (xxviii)) are paid or allocated in respect of the related Certificates (the REMIC 4 AV-1 Interest being related to the Class AV-1 Certificates, the REMIC 4 AV-2 Interest being related to the Class AV-2 Certificates, the REMIC 4 AV-3 Interest being related to the Class AV-3 Certificates, the REMIC 4 M-1 Interest being related to the Class M-1 Certificates, the REMIC 4 M-2 Interest being related to the Class M-2 Certificates, the REMIC 4 M-3 Interest being related to the Class M-3 Certificates, the REMIC 4 B-1 Interest being related to the Class B-1 Certificates, the REMIC 4 B-2 Interest being related to the Class B-2 Certificates, the REMIC 4 B-3 Interest being related to the Class B-3 Certificates and the REMIC 4 B-4 Interest being related to the Class A-IO Certificates B-4 Certificates). On each Distribution Date, principal shall be identical paid to, Realized Losses shall be allocated to and accrued but unpaid interest shall be added to the timing, amounts principal amount of the REMIC 4 X/N Interest so that such principal amount shall equal the excess of (i) the Pool Balance as of the close of the related Collection Period over (ii) the aggregate Certificate Principal Balance of each Class of Certificates on such Distribution Date after all principal payments have been made and allocations on the corresponding Classes of Realized Losses have been allocated to such Certificates (other than the Class CE, X or Class P and N Certificates). The portion of Available Funds remaining in REMIC 4 on a Distribution Date after all distributions have been made to the REMIC 4 Regular Interests shall be distributed to the Class R Certificates), except that the Pass-Through Rate of any P&I Regular Interest shall not exceed the pass-through rate as set forth in the definition thereof, and any amount paid in respect of a Class of Offered P&I Certificates as a Cap Carryover Amount, whether with respect to the Distribution Date on which such amount is paid or a prior Distribution Date, shall be treated as a distribution by REMIC 4 in respect of the REMIC 4 Components, beneficially owned by the Class CE Certificates, then as paid by the Class CE Certificates to the applicable Class of Offered P&I Certificates as a payment from the Grantor Trust outside of the REMICs. Interest (and in the case of the Class T4-4 Interest, principal) shall be deemed distributed to each Class of REMIC 4 Components as follows: (i) the Class T4-4, Class T4-11, Class T4-12 and Class T4-13 Interests shall be entitled to all distributions on the Class T3-4, Class T3-11, Class T3-12 and Class T3-13 Interests, respectively; and (ii) the Class T4-A1IO, Class T4-A2IO, Class T4-M1IO, Class T4-M2-IO, Class T4-M3IO, Class T4-M4IO and Class T4-BIO Interests shall be entitled to a specified portion of interest payments consisting of the excess of interest distributable on each of the Class T3-A1, Class T3-A2, Class T3-M1, Class T3-M2, Class T3-M3, Class T3-M4 and Class T3-B Interests over interest distributable on the Class T4-A1, Class T4-A2, Class T4-M1, Class T4-M2, Class T4-M3, Class T4-M4 and Class T4-B Interests, respectively. Any shortfalls of interest, including any Realized Losses allocated to reduce the Subsequent Overcollateralization Amount, shall be borne, first, by the REMIC 4 Components, pro rata based on interest accrued, before being allocated to the applicable P&I Regular Interests. Realized Losses allocated to the Class T4-4 Interest shall equal Realized Losses allocated to the Class T3-4 Interest pursuant to Section 4.08(b). The Class CE Certificates shall be deemed to receive the aggregate of the amounts distributable in respect of the REMIC 4 Components, notwithstanding that a portion of such amount is applied to pay any Cap Carryover Amount. Amounts deemed distributed in respect of the P&I Regular Interests shall be treated as held by the Grantor Trust for distribution in accordance with Sections 4.01 and 4.R-4