Allocation of Applied Realized Loss Amounts. If on any Distribution Date, after giving effect to all distributions of principal as described above, the aggregate Certificate Principal Balance of the Offered Certificates exceeds the sum of the Aggregate Principal Balance of the Mortgage Loans, the Certificate Principal Balance of the applicable Subordinate Certificates will be reduced, in inverse order or seniority (beginning with the Class B Certificates) by an amount equal to that excess, until the Certificate Principal Balance of such Class of Subordinate Certificates is reduced to zero. Any Applied Realized Loss Amounts allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 4 contracts
Samples: Pooling and Servicing Agreement (American Business Financial Services Inc /De/), Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Abfs Mort Ln Tr 2002-3), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Allocation of Applied Realized Loss Amounts. If on any Distribution Date, after giving effect to all distributions of principal as described above, the aggregate Certificate Principal Balance of the Offered Certificates exceeds the sum of the Aggregate Current Pool Principal Balance of the Mortgage Loansfor that Distribution Date, the Certificate Principal Balance of the applicable Subordinate Certificates will be reduced, in inverse order or seniority (beginning with the Class B Certificates) by an amount equal to that excess, until the Certificate Principal Balance of such Class of Subordinate Certificates is reduced to zero. Any Applied Realized Loss Amounts allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (Abfs Mort Loan Trust 2002-4 Mort Pass Thru Cert Ser 2002-4), Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp), Pooling and Servicing Agreement (American Business Financial Services Inc /De/)
