Distribution Amount (less principal, if any, payable to the Trustee as described in the Trust
Agreement), the Accrual Amount, if any, and the Interest Distribution Amount for the related
Series (or Security Group).
The Trustee will determine the amount of principal expected to be received on the Ginnie
Mae Multifamily Certificates during that month on the basis of Certificate Factors for those
Ginnie Mae Multifamily Certificates for that month and efforts to verify with the related Ginnie
Mae Issuers the accuracy with which they have reported such Certificate Factors. The Trustee
will obtain the Certificate Factors from the Information Agent on the seventh Business Day of
the month (the Certificate Factor Date). If the verification process reveals that a Ginnie Mae
Issuer has incorrectly reported anticipated principal payments on which the Certificate Factor is
based, the Trustee will determine (with the help of the Ginnie Mae Issuer), and publish, a
Corrected Certificate Factor. On occasion, the Trustee may be unable to verify by noon on the
second Business Day preceding the Distribution Date that a Ginnie Mae Issuer has correctly
reported the anticipated principal payments on which the Certificate Factor is based. In this case,
the Trustee will calculate a Calculated Certificate Factor based on the assumption that all
scheduled principal and interest payments were made but that no prepayments were made during
the immediately preceding month on the Mortgage Loans underlying the related Ginnie Mae
Multifamily Certificate.
In the case of Underlying Certificates, the Trustee will determine the amount of principal
expected to be received on each Underlying Certificate during that month on the basis of
Underlying Certificate Factors for those Underlying Certificates for that month. The Trustee will
obtain the Underlying Certificate Factors in accordance with the related Trust Agreement. In the
event that an Underlying Certificate Factor is not available on the date specified in the related
Trust Agreement, no amounts in respect of principal for the related Underlying Certificate will
be distributable to the related Securities on the following Distribution Date.
The Class Factors for each Distribution Date will reflect the applicable Certificate
Factors, Corrected Certificate Factors and Calculated Certificate Factors for that month (or in the
case of Underlying Certificates, the amount of principal distributable thereon on the preceding
Underlying Certificate Payment Date). Amounts calculated by the Trustee based on the Class
Factors will be distributed to Holders of Securities on the applicable Distribution Date, whether
or not those amounts are actually received on the Trust MBS.
Each Class Factor is the factor (carried to eight decimal places) that, when multiplied by
the Original Class Principal Balance (or the original Class Notional Balance) of the related Class,
determines the Class Principal Balance (or Class Notional Balance) of that Class after giving
effect to the distribution of principal to be made on the Securities (and any addition to the Class
Principal Balance of any Accrual Class or Partial Accrual Class) on the related Distribution Date.
The Information Agent identified in the Offering Circular Supplement will post the Class
Factors, along with the Interest Rate for each Class, on gREX.
For any Distribution Date, investors can calculate the amount of principal to be
distributed on any Class (other than an Accrual Class or Partial Accrual Class) by multiplying
the Original Class Principal Balance of that Class by the difference between its Class Factors for
the preceding and current . The amount of interest to be distributed on any Class (other than an
Base Offering Circular Multifamily
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