Common use of Allocation of Applied Realized Loss Amounts to the Certificates Clause in Contracts

Allocation of Applied Realized Loss Amounts to the Certificates. If, with respect to any Distribution Date, the amount, if any, by which the aggregate Class Principal Balance of the Offered Certificates after distributions of principal on such Distribution Date exceeds the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date, the Class Principal Balance of the Class B-2, Class B-1, Class M-2 and Class M-1 Certificates, will be reduced, in that order, in each case, until the respective Class Principal Balance of each such Class is reduced to zero and after the Cross-Over Date, any excess will be allocated to reduce the Class Principal Balance of the Senior Certificates related to the Loan Group in which Realized Losses occurred, pro rata; provided, however, that (i) the Class 1-A-4 Certificates will bear the losses allocable to the Class 1-A-1 and Class 1-A-3 certificates for so long as the Class Certificate Balance of the Class 1-A-4 certificates is greater than zero; (ii) the Class 1-A-6 Certificates will bear the losses allocable to the Class 1-A-2 Certificates for so long as the Class Certificate Balance of the Class 1-A-6 certificates is greater than zero; and (iii) the Class 2-A-3A and Class 2-A-3B Certificates will bear the losses allocable to the Class 2-A-1 Certificates, pro rata, for so long as the aggregate of the Class Certificate Balances of the Class 2-A-3A and Class 2-A-3B Certificates is greater than zero. The amount of any such reduction applied to the Class Principal Balance of any Class of Offered Certificates is an "Applied Realized Loss Amount". In the event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Principal Balance shall be reduced by the amount so allocated and no funds shall be distributed with respect to the written down amounts or with respect to interest on the written down amounts on that Distribution Date or any future Distribution Dates, unless funds become available to make reimbursement payments to such Classes as described in Section 4.02(a)(iii). With respect to Recoveries received during a Prepayment Period, the Class Principal Balance of one or more Classes of Offered Certificates that have been allocated Applied Realized Loss Amounts, will be increased, as follows: (i) first, up to the amount of such Recoveries, the Class Principal Balance of each Class of Senior Certificates of the Certificate Group corresponding to such Loan Group will be increased, pro rata, up to the amount of unreimbursed Applied Realized Loss Amounts previously allocated to each such Class, if any; and (ii) second, up to the amount of such Recoveries remaining after allocation pursuant to the preceding clause (i), the Class Principal Balance of each Class of Subordinate Certificates, in order of seniority, will be increased, by the amount of unreimbursed Applied Realized Loss Amounts previously allocated to each such Class, if any.

Allocation of Applied Realized Loss Amounts to the Certificates. If, with respect to any Distribution Date, the amount, if any, by which the aggregate Class Principal Balance of the Offered Certificates after distributions of principal on such Distribution Date exceeds the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date, the Class Principal Balance of the Class B-2, Class B-1, Class M-2 and Class M-1 Certificates, will be reduced, in that order, in each case, until the respective Class Principal Balance of each such Class is reduced to zero and after the Cross-Over Date, any excess will be allocated to reduce the Class Principal Balance of the Senior Certificates related to the Loan Group in which Realized Losses occurred, pro rata; provided, however, that (i) the Class 1-A-4 A-2 Certificates will bear the losses allocable to the Class 1-A-1 and Class 1-A-3 certificates for so long as the Class Certificate Balance of the Class 1-A-4 certificates is greater than zero; (ii) the Class 1-A-6 Certificates will bear the losses allocable to the Class 1-A-2 Certificates for so long as the Class Certificate Balance of the Class 1-A-6 certificates is greater than zero; and (iiiii) the Class 2-A-3A and Class 2-A-3B A-2 Certificates will bear the losses allocable to the Class 2-A-1 Certificates, pro rata, for so long as the aggregate of the Class Certificate Balances of the Class 2-A-3A and Class 2-A-3B A-2 Certificates is greater than zero. The amount of any such reduction applied to the Class Principal Balance of any Class of Offered Certificates is an "Applied Realized Loss Amount". In the event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Principal Balance shall be reduced by the amount so allocated and no funds shall be distributed with respect to the written down amounts or with respect to interest on the written down amounts on that Distribution Date or any future Distribution Dates, unless funds become available to make reimbursement payments to such Classes as described in Section 4.02(a)(iii). With respect to Recoveries received during a Prepayment Period, the Class Principal Balance of one or more Classes of Offered Certificates that have been allocated Applied Realized Loss Amounts, will be increased, as follows: (i) first, up to the amount of such Recoveries, the Class Principal Balance of each Class of Senior Certificates of the Certificate Group corresponding to such Loan Group will be increased, pro rata, up to the amount of unreimbursed Applied Realized Loss Amounts previously allocated to each such Class, if any; and (ii) second, up to the amount of such Recoveries remaining after allocation pursuant to the preceding clause (i), the Class Principal Balance of each Class of Subordinate Certificates, in order of seniority, will be increased, by the amount of unreimbursed Applied Realized Loss Amounts previously allocated to each such Class, if any.

Allocation of Applied Realized Loss Amounts to the Certificates. If, with respect to any Distribution Date, the amount, if any, by which the aggregate Class Principal Balance of the Offered Certificates after distributions of principal on such Distribution Date exceeds the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date, the Class Principal Balance of the Class B-2, Class B-1, Class M-2 and Class M-1 Certificates, will be reduced, in that order, in each case, until the respective Class Principal Balance of each such Class is reduced to zero and after the Cross-Over Date, any excess will be allocated to reduce the Class Principal Balance of the Senior Certificates related to the Loan Group in which Realized Losses occurred, pro rata; provided, however, that (i) the Class 1-A-2 Certificates will bear the losses allocable to the Class 1-A-1 certificates for so long as the Class Certificate Balance of the Class 1-A-2 certificates is greater than zero; (ii) the Class 1-A-4 Certificates will bear the losses allocable to the Class 1-A-1 and Class 1-A-3 certificates Certificates for so long as the Class Certificate Balance of the Class 1-A-4 certificates is greater than zero; (ii) the Class 1-A-6 Certificates will bear the losses allocable to the Class 1-A-2 Certificates for so long as the Class Certificate Balance of the Class 1-A-6 certificates is greater than zero; and (iii) the Class 2-A-3A and Class 2-A-3B A-2 Certificates will bear the losses allocable to the Class 2-A-1 Certificates, pro rata, for so long as the aggregate of the Class Certificate Balances of the Class 2-A-3A and Class 2-A-3B A-2 Certificates is greater than zero. The amount of any such reduction applied to the Class Principal Balance of any Class of Offered Certificates is an "Applied Realized Loss Amount". In the event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Principal Balance shall be reduced by the amount so allocated and no funds shall be distributed with respect to the written down amounts or with respect to interest on the written down amounts on that Distribution Date or any future Distribution Dates, unless funds become available to make reimbursement payments to such Classes as described in Section 4.02(a)(iii). With respect to Recoveries received during a Prepayment Period, the Class Principal Balance of one or more Classes of Offered Certificates that have been allocated Applied Realized Loss Amounts, will be increased, as follows: (i) first, up to the amount of such Recoveries, the Class Principal Balance of each Class of Senior Certificates of the Certificate Group corresponding to such Loan Group will be increased, pro rata, up to the amount of unreimbursed Applied Realized Loss Amounts previously allocated to each such Class, if any; and (ii) second, up to the amount of such Recoveries remaining after allocation pursuant to the preceding clause (i), the Class Principal Balance of each Class of Subordinate Certificates, in order of seniority, will be increased, by the amount of unreimbursed Applied Realized Loss Amounts previously allocated to each such Class, if any.