ALLOCATION OF. REALIZED LOSSES, EXPENSE LOSSES AND SHORTFALLS DUE TO NONRECOVERABILITY.
ALLOCATION OF. RESPONSIBILITY The City assumes no responsibility for the tax consequences of any VEBA contributions made by or on behalf of any member. Each union that elects to require VEBA contributions for the benefit of its members assumes sole responsibility for insuring that the VEBA complies with all applicable laws, including, without limitation, the Internal Revenue Code, and agrees to indemnify and hold the City harmless for any taxes, penalties and any other costs and expenses resulting from such contributions.
ALLOCATION OF. REALIZED LOSSES WITH RESPECT TO THE GROUP I-IV MORTGAGE LOANS .
(a) On or prior to each Determination Date, the Trustee shall determine the amount of any Realized Loss in respect of each Group I-IV Mortgage Loan that occurred during the immediately preceding calendar month.
(b) Any Realized Loss with respect to a Group I-IV Mortgage Loan, except for Excess Losses, will be allocated among the Senior-Subordinate Certificates as follows:
(i) first, to the Class C-B-6 Certificates, until its Certificate Principal Balance has been reduced to zero;
(ii) second, to the Class C-B-5 Certificates, until its Certificate Principal Balance has been reduced to zero;
(iii) third, to the Class C-B-4 Certificates, until its Certificate Principal Balance has been reduced to zero;
(iv) fourth, to the Class C-B-3 Certificates, until its Certificate Principal Balance has been reduced to zero;
(v) fifth, to the Class C-B-2 Certificates, until its Certificate Principal Balance has been reduced to zero;
(vi) sixth, to the Class C-B-1 Certificates, until its Certificate Principal Balance has been reduced to zero; and
(vii) seventh, to the Senior Certificates of the related Loan Group (other than the Class IV-X Certificates), pro rata, according to and in reduction of their Certificate Principal Balances.
(c) Accrued Certificate Interest for each Class of Group I-IV Senior Certificates and the Group II Excess Interest Amounts will be reduced by Net Interest Shortfalls on the Mortgage Loans in the related Loan Group for that Distribution Date, and the Accrued Certificate Interest for the Group C-B Certificates will be reduced by Net Interest Shortfalls on the Group I, Group II, Group III and Group IV Mortgage Loans for that Distribution Date. Net Interest Shortfalls on any Distribution Date will be allocated pro rata among all such Classes of Certificates, and, if applicable, the Group II Excess Interest Amount, related to such Loan Group, based on the amount of interest each of those Classes of Certificates and the Group II Excess Interest Amount, as applicable, would otherwise be entitled to receive on that Distribution Date from such Loan Group before taking into account any reduction in the amounts resulting from Net Interest Shortfalls. The amount a Class of Group C-B Certificates would otherwise be entitled to receive from the Mortgage Loans in a Loan Group before taking into account any such reduction will be based on the amount of interest accruing at the applicable Net WAC ...
ALLOCATION OF. REALIZED LOSSES, EXPENSE LOSSES AND SHORTFALLS DUE TO NONRECOVERABILITY
(a) REMIC I. On each Distribution Date, except as provided in subsection (b) below,
(i) Realized Principal Losses on each Mortgage Loan realized during the related Collection Period shall reduce the Certificate Balance of the Corresponding REMIC I Regular Interest;
(ii) Realized Interest Losses on each Mortgage Loan shall be allocated to reduce first, Distributable Certificate Interest for such Distribution Date, and then Unpaid Interest in each case owing on the Corresponding REMIC I Regular Interest; and to the extent that such Realized Interest Loss exceeds such amount, shall be treated as an Expense Loss;
(iii) Expense Losses (not otherwise applied above) realized during the related Collection Period shall be allocated among the REMIC I Regular Interests in proportion to their Certificate Balances after making all other allocations for such Distribution Date.
(b) In the event that the Master Servicer, the Trustee or the Fiscal Agent, determines that an Advance previously made by it is a Nonrecoverable Advance and the Master Servicer withdraws the amount of such Advance from the Certificate Account pursuant to Section 5.2(a) hereof (which amount shall be treated as an Available Advance Reimbursement Amount pursuant to Section 4.6), it shall determine the portion of the amount so withdrawn that is attributable to (w) interest on the related Mortgage Loan; (x) principal on the related Mortgage Loan; (y) Servicing Advances; and (z) Advance Interest. The portion of the amount so withdrawn from the Certificate Account that is allocable to:
(i) amounts previously advanced as interest on the related Mortgage Loan shall reduce the Available Distribution Amount for REMIC I and shall be allocated to reduce the amount of interest paid on each REMIC I Regular Interest on such Distribution Date in proportion to Distributable Certificate Interest otherwise payable thereon, and shall result in Unpaid Interest on each such REMIC I Regular Interest;
(ii) amounts previously advanced as principal on the related Mortgage Loan shall reduce the Available Distribution Amount for REMIC I and shall be allocated to reduce the principal paid on each REMIC I Regular Interest on which principal would otherwise be paid on such Distribution Date, in proportion to such principal payments; and
(iii) amounts previously advanced as Servicing Advances, as well as Advance Interest owing to the Master Servicer, the Trus...
ALLOCATION OF. Regulations Section 1.704-1(b)(2)(iv)(m) Adjustments . If an adjustment to the Capital Accounts of the Members is required by Regulations Section 1.704-1(b)(2)(iv)(m)(2) or (4) because of a distribution in complete liquidation of a Member's Interest, the amount of such adjustment shall be treated as an item of gain, if it increases the tax basis of property of the Company, or as an item of loss, if it decreases the tax basis of property of the Company. If Regulations Section 1.704-1(b)(2)(iv)(m)
ALLOCATION OF. The Employer proposes thefollowing procedure;
ALLOCATION OF. Royalty Oil and the State’s Profit Oil shall be in the form of delivery of Production of Petroleum to the National Petroleum Agency and the National Petroleum Agency or other appropriate authority shall issue receipts for such delivery within thirty (30) days of lifting such Royalty Oil and Profit Oil. These receipts are issued by the National Petroleum Agency or other appropriate authority on behalf of the Government of Sao Tome and Principe.
ALLOCATION OF funds (a) A fund of $1,500 shall be set aside in the annual budget of the library and of each Faculty for the professional development of each Member. If on May 1 of a given fiscal year there is money remaining in a Member’s fund, it will be transferred to the next fiscal year, up to a maximum of $1,500. When money is transferred to the next fiscal year, the maximum a Member will be allowed in that given fiscal year will be $3,000.
ALLOCATION OF. SCAS FEES The Managers will pay fifty percent (50%) of the SCAS Fees attributable to the Funds. The amount allocated to the Managers will be based upon the Funds' respective net assets under management. Each Fund will pay a pro rata portion of the remaining fifty percent (50%) of the SCAS Fees attributable to the Funds based upon the percentage of each Fund's net assets under management.
ALLOCATION OF. If an Event of Default has occurred and not been waived, and the maturity of the Notes has been accelerated pursuant to Article VI hereof, all payments received by the Agent hereunder, in respect of any principal of or interest on the Obligations or any other amounts payable by Borrower or any other Loan Party hereunder, shall be applied by the Agent in the following order:
