Base Offering Circular – Multifamily 80 Calculated Certificate Factor, as applicable, for the current Distribution Date; (II) with respect to each Ginnie Mae Project Loan Certificate issued as a result of a conversion of a Ginnie Mae Construction Loan Certificate since the preceding Distribution Date, the sum of (1) the amount by which  (a) the product of (i) the original principal amount of the Ginnie Mae Project Loan Certificate and (ii) 1.00 exceeds (b) the product of (i) the original principal amount of the Ginnie Mae Project Loan Certificate and (ii) the Certificate Factor, Corrected Certificate Factor or Calculated Certificate Factor, as applicable, for the current Distribution Date and (2) any amounts received by the Trust from the Ginnie Mae Issuer from the related P&I Custodial Account on the date of conversion of a Ginnie Mae Construction Loan Certificate to a Ginnie Mae Project Loan Certificate; (III) with respect to each Ginnie Mae Construction Loan Certificate that has been liquidated since the preceding Distribution Date, any proceeds received by the Trust from the Ginnie Mae Issuer with respect to any liquidation, exclusive of any amounts distributed pursuant to (I) above; (IV) with respect to each Underlying Certificate (or Underlying Callable Security), the amount by which (a) the product of (i) the original principal amount of that Underlying Certificate (or Underlying Callable Security) and (ii) the Underlying Certificate Factor (or Certificate Factor) for the preceding Distribution Date exceeds (b) the product of (i) the original principal amount of the Underlying Certificate (or Underlying Callable Security) and (ii) the Underlying Certificate Factor (or Certificate Factor) for the current Distribution Date; provided however, that the amount calculated pursuant to clause (IV) is subject to adjustment pursuant to the applicable Trust Agreement in the event that Underlying Certificate Factors (or Certificate Factors) are unavailable in respect of any Distribution Date.  (For the first Distribution Date, the product in clause (I)(a)  and (IV)(a) above shall be the principal amount of the Ginnie Mae Multifamily Certificate as of the Closing Date.)  The sum of the amounts so calculated for each Ginnie Mae Multifamily Certificate conveyed to a Trust for a Series (or, if the Series is segregated into Security Groups, for each Ginnie Mae Multifamily Certificate included in the related Trust Asset Group) is the Principal Distribution Amount for that Series (or Security Group(s)). When preceded by a group designation (e.g., the “Group 2 Principal Distribution Amount”), such amount for the specified Trust Asset Group.