Interest Funds. With respect to each Loan Group and any Distribution Date, (i) the sum, without duplication, of (a) all scheduled interest collected in respect to the related Mortgage Loans during the related Due Period less the related Servicing Fee and any related amounts to be reimbursed to EMC, the Servicer, the Trustee and the Custodian as provided herein, (b) all Monthly Advances relating to interest with respect to the related Mortgage Loans made on or prior to the related Distribution Account Deposit
... Date, (c) all Compensating Interest Payments with respect to the related Mortgage Loans and required to be remitted by the Servicer pursuant to this Agreement with respect to such Distribution Date, (d) Liquidation Proceeds with respect to the Mortgage Loans collected during the related Prepayment Period (or, in the case of Subsequent Recoveries, during the related Due Period), to the extent such Liquidation Proceeds relate to interest, less all Nonrecoverable Advances relating to interest and certain expenses, in each case, with respect to the Mortgage Loans in the Related Loan Group, (e) all amounts relating to interest with respect to each Mortgage Loan in the related Loan Group purchased by the Depositor pursuant to Sections 2.02, 2.03 or 3.21 during the related Due Period less all Non-Recoverable Advances relating to interest, (f) all amounts in respect of interest paid by the Depositor pursuant to Section 10.01 allocated to the related Loan Group, in each case to the extent remitted by the Servicer to the Distribution Account pursuant to this Agreement, and (g) the amount of any Principal Prepayments in full, partial Principal Prepayments, Net Liquidation Proceeds, Repurchase Proceeds and scheduled principal payments, in that order, allocated to the related Loan Group, included in Available Funds for such Distribution Date that are applied in connection with any Deferred Interest in accordance with the definition of Net Deferred Interest to EMC, the Depositor, the Servicer or the Trustee, and (h) with respect to Loan Group I, any amounts deposited in the Adjustable Rate Supplemental Fund and available for distribution to the Group I Certificates on such Distribution Date in accordance with Section 4.05, minus (ii) all amounts required to be reimbursed pursuant to Sections 4.01, 4.03, and 4.04 and 4.05 and allocated to the related Loan Group or as otherwise set forth in this Agreement.
View More
