Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 30 contracts
Samples: Flow Servicing Agreement (GSAA Home Equity Trust 2006-6), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-8), Servicing and Trust Agreement (GSAA Home Equity Trust 2007-7)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Securities Administrator to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of LIBOR Certificates, their Class Certificate Balance Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 20 contracts
Samples: Distribution Instructions (Gs Mortgage Securities Corp), Pooling and Servicing Agreement (GSAMP Trust 2006-He3), Pooling and Servicing Agreement (GSAMP Trust 2005-Ahl2)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of LIBOR Certificates, their Class Certificate Balance Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 10 contracts
Samples: Pooling and Servicing Agreement (FFMLT 2006-Ff6), Pooling and Servicing Agreement (FFMLT Trust 2005-Ff8), Pooling and Servicing Agreement (GSAMP Trust 2006-He1)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 8 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2004-Nc1), Pooling and Servicing Agreement (GS Mortgage Securities Corp GSAMP Trust 2004-Nc2), Pooling and Servicing Agreement (Gsaa Home Equity Trust 2004-5)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 6 contracts
Samples: Servicing Agreement (GS Mortgage GSAA Home Eq. Trust 2004-7), Execution Copy (GSAA Home Equity Trust 2005-6), Trust Agreement (GSAA Home Equity Trust 2005-7)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of LIBOR Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 6 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2005-Ahl), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff2), Pooling and Servicing Agreement (First Franklin Mortgage Loan Trust 2005-Ff2)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Subordinate Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 3 contracts
Samples: Trust Agreement (GS Mortgage GSAMP Trust 2004-Wf), Trust Agreement (Gsaa Home Equity Trust 2004-6), Trust Agreement (Gsaa Home Equity Trust 2004-6)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated by the Securities Administrator to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 3 contracts
Samples: Trust Agreement (GSAA Home Equity Trust 2005-3), Trust Agreement (GSAA Home Equity Trust 2005-3), Trust Agreement (GSAA Home Equity Trust 2005-3)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 3 contracts
Samples: Pooling and Servicing Agreement (GSAMP Trust 2005-Wmc1), Pooling and Servicing Agreement (GSAMP Trust 2005-Wmc1), Pooling and Servicing Agreement (GSAMP Trust 2005-Wmc3)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Principal Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (Gsamp Trust 2005-He2), Pooling and Servicing Agreement (Gsamp Trust 2005-He2)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Principal Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 2 contracts
Samples: Pooling and Servicing Agreement (GSAA Home Equity Trust 2005-2), Pooling and Servicing Agreement (GSAA Home Equity Trust 2005-10)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of the Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. After the Class Certificate Balance of the Class M-1 Certificates is reduced to zero, any Applied Realized Loss Amounts with respect to the Group III Mortgage Loans will be allocated to the Class A-3B Certificates in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 2 contracts
Samples: Servicing Agreement (Gsaa Home Equity Trust 2004-8), Servicing Agreement (Gsaa Home Equity Trust 2004-8)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated by the Securities Administrator to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Trust Agreement (GS Mortgage Securities Corp., Asset-Backed Certificates, Series 2005-5)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated to the most junior Class of Subordinated Subordinate Certificates then outstanding in reduction of the Class Certificate Principal Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Principal Balance of each Class of Subordinated Subordinate Certificates that has been previously reduced by Applied Realized Loss Amounts will shall be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Subordinate Certificates).
Appears in 1 contract
Samples: Servicing and Trust Agreement (GSR Mortgage Loan Trust 2006-Oa1)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Securities Administrator to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereofthereof and after the Class Certificate Balance of each Class of Subordinated Certificates is reduced to zero, first to the Class A-2 Certificates and then to the Class A-1 Certificates, until the Class Certificate Balance of each such Class is reduced to zero. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance Balances 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Assignment and Recognition Agreement (BCAP LLC Trust 2006-Aa2)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance shall be reduced by the amount so allocated allocated, and no funds shall be distributed with respect to the written down amounts or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Trust Agreement (New Century Alternative Mortgage Loan Trust 2006-Alt2)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Offered Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp. Gsaa Home Equity Trust 2004-9)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Principal Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Gs Mortgage Securities Corp. Gsamp Trust 2004-He2)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GS Mortgage GSAMP Trust 2005-Nc1)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Securities Administrator to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance Balances 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Flow Servicing Agreement (GSAA Home Equity 2005-12)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Offered Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GSAMP Trust 2006-S6)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Servicing Agreement (GSAA Home Equity Trust 2005-4)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, event Applied Realized Loss Amounts are allocated to any Class of Offered Certificates, their Class Certificate Balance Principal Balances shall be reduced by the amount so allocated allocated, and no funds shall will be distributed distributable with respect to the written down amounts (including without limitation Basis Risk Carry Forward Amounts) or with respect to interest or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available thereforfor distribution. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Pooling and Servicing Agreement (GS Mortgage GSAMP Trust 2005-He1)
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then outstanding Outstanding in reduction of the Class Certificate Balance thereof, until the Class Certificate Balance of each such Class is reduced to zero. In the event, event Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance Balances 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the that order of or seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Allocation of Applied Realized Loss Amounts. Any Applied Realized Loss Amounts will be allocated to the most junior Class of Subordinated Certificates then outstanding in reduction of the Class Certificate Balance thereof. In the event, Applied Realized Loss Amounts are allocated to any Class of Certificates, their Class Certificate Balance 63 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 or Basis Risk Carry Forward Amounts on the written down amounts on that Distribution Date or any future Distribution Dates, even if funds are otherwise available therefor. Notwithstanding the foregoing, the Class Certificate Balance of each Class of Subordinated Certificates that has been previously reduced by Applied Realized Loss Amounts will be increased, in the order of seniority, by the amount of the Subsequent Recoveries (but not in excess of the Applied Realized Loss Amount allocated to the applicable Class of Subordinated Certificates).
Appears in 1 contract
Samples: Servicing Agreement (GSAA Home Equity Trust 2006-11)