Priority and Subordination of Distributions. (a) The rights of the Certificateholders to receive distributions from the proceeds of the Trust Fund, and all ownership interests of the Certificateholders in such distributions, shall be as set forth in this Agreement. In this regard, all rights of the Class X and Class R Certificateholders to receive distributions in respect of the Class X and Class R Certificates, respectively, and all ownership interests of the Class X and Class R Certificateholders in and to such distributions, shall be subject and subordinate to the preferential rights of the Class A, Class M and Class B Certificateholders, to receive distributions in respect of the Class A, Class M and Class B Certificates, respectively, and the ownership interests of the Class A, Class M and Class B Certificateholders, respectively, in such distributions, as described herein. In accordance with the foregoing, the ownership interests of the Class X and Class R Certificateholders in amounts deposited in the applicable Principal and Interest Account or in any Accounts from time to time shall not vest unless and until such amounts are distributed in respect of the Class X and Class R Certificates in accordance with the terms of this Agreement. Notwithstanding anything contained in this Agreement to the contrary, the Class X and Class R Certificateholders shall not be required to refund any amount properly distributed on the Class X and Class R Certificates.
Priority and Subordination of Distributions. (a) The rights of the Certificateholders to receive distributions from the proceeds of the Trust Fund, and all ownership interests of the Certificateholders in such distribu tions, shall be as set forth in this Agreement. The rights of the Class R Certificateholders to receive distributions in respect of the Class R Certificates shall be subject and subordinate to the preferential rights of the Class A Certificateholders to receive distributions in respect of the Class A Certificates, to the extent set forth herein, and distributions on the Class R Certificates are subject and subordinate to the maintenance of the Specified Spread Account Requirement as specified herein. In accordance with the foregoing, the ownership interests of the Class R Certificateholders in amounts deposited in the Accounts from time to time shall not vest unless and until such amounts are distributed in respect of the Class R Certificates in accordance with the terms of this Agreement. Notwithstanding anything contained in this Agreement to the contrary, no Certificateholder shall be required to refund any amount properly distributed to it pursuant to Section 6.02, 6.05, 6.09(b) or 6.09(d).
Priority and Subordination of Distributions. (a) The rights of the Noteholders and Certificateholders to receive distributions from the proceeds of the Trust, and all ownership interests of the Noteholders and Certificateholders in such distributions, shall be as set forth in this Agreement and the Trust Agreement. In this regard, all rights of the Certificateholders to receive distributions in respect of the Certificates, and all ownership interests of the Certificateholders in and to such distributions, shall be subject and subordinate to the preferential rights of the Noteholders to receive distributions in respect of the Notes, as described herein. In accordance with the foregoing, the ownership interests of the Certificateholders in amounts deposited in the Principal and Interest Account or in any Accounts from time to time shall not vest unless and until such amounts are distributed in respect of the Certificates in accordance with the terms of this Agreement and the Trust Agreement. Notwithstanding anything contained in this Agreement to the contrary, the Certificateholders shall not be required to refund any amount properly distributed on the Certificates.
Priority and Subordination of Distributions. (a) The rights of the Certificateholders to receive distributions from the proceeds of the Trust Fund, and all ownership interests of the Certificateholders in such distributions, shall be as set forth in this Agreement. In this regard, all rights of the Class X and Class R Certificateholders to receive distributions in respect of the Class X and Class R Certificates, respectively, and all ownership interests of the Class X and Class R Certificateholders in and to such distributions, shall be subject and subordinate to the preferential rights of the Class A Certificateholders, to receive distributions in respect of the Class A Certificates, and the ownership interests of the Class A Certificateholders in such distributions, as described herein. In accordance with the foregoing, the ownership interests of the Class X and Class R Certificateholders in amounts deposited in the applicable Principal and Interest Account or in any Accounts from time to time shall not vest unless and until such amounts are distributed in respect of the Class X and Class R Certificates in accordance with the terms of this Agreement. Notwithstanding anything contained in this Agreement to the contrary, the Class X and Class R Certificateholders shall not be required to refund any amount properly distributed on the Class X and Class R Certificates pursuant to Section 6.08(d)(v).
Priority and Subordination of Distributions. (a) (1)(A) On each Distribution Date, the following amounts, in the following order of priority, shall be distributed by REMIC I to REMIC II on account of the REMIC I Regular Interests or withdrawn from the Distribution Account and distributed to the holders of the Class R Certificates (in respect of the Class R-I Interest), as the case may be:
Priority and Subordination of Distributions. (a) The rights of the Certificateholders to receive distributions from the proceeds of the Trust Fund, and all ownership interests of the Certificateholders in such distributions, shall be as set forth in this Agreement. In this regard, all rights of the Class R Certificateholders to receive distributions in respect of the Class R Certificates shall be subject and subordinate to the preferential rights of the Class A Certificateholders to receive distributions in respect of the Class A Certificates, to the extent set forth herein. In accordance with the foregoing, the ownership interests of the Class R Certificateholders in amounts deposited in the Accounts from time to time shall not vest unless and until such amounts are properly distributed in respect of the Class R Certificates in accordance with the terms of this Agreement. Notwithstanding anything contained in this Agreement to the contrary, no Certificateholder shall be required to refund any amount properly distributed to it pursuant to the terms of this Agreement.
Priority and Subordination of Distributions. Section 6.06 [RESERVED]........................................................ Section 6.07 Statements........................................................ Section 6.08 Advances by the Servicer.......................................... Section 6.09 Establishment of Spread Account; Deposits in Spread Account; Permitted Withdrawals from Spread Account ............... Section 6.10
Priority and Subordination of Distributions. (a) The rights of the Noteholders to receive distributions from the proceeds of the Trust Estate, in such distributions, shall be as set forth in this Agreement. In this regard, all rights of the Certificateholders to receive distributions in respect of the Certificates shall be subject and subordinate to the preferential rights of the Noteholders to receive distributions in respect of the Notes, to the extent set forth herein. In accordance with the foregoing, the ownership interests of the Certificateholders in amounts deposited in the Accounts from time to time shall not vest unless and until such amounts are properly distributed in respect of the Certificates in accordance with the terms of this Agreement. Notwithstanding anything contained in this Agreement to the contrary, no Noteholder shall be required to refund any amount properly distributed to it pursuant to the terms of this Agreement.
Priority and Subordination of Distributions. 81 7.07 ALLOCATION OF REALIZED LOSSES........................................................................87 7.08 STATEMENTS...........................................................................................88 7.09 REPORTS OF FORECLOSURE AND ABANDONMENT OF MORTGAGED PROPERTY.........................................93 7.10
Priority and Subordination of Distributions. Section 6.06 [RESERVED]................................................... Section 6.07 STATEMENTS................................................... Section 6.08
