Allocation of Loss Amounts Sample Clauses

Allocation of Loss Amounts. On each Distribution Date and Supplemental Distribution Date, the Trustee shall determine the Loss Amounts and shall allocate it to the Certificates by reducing the Certificate Principal Balance of the Classes of Certificates other than the Class X, Class PO and New Certificates (in reverse alphabetical order commencing with the Class H Certificates) until the respective Certificate Principal Balances thereof are reduced to zero. On each Distribution Date and Supplemental Distribution Date, the Trustee shall allocate the Class A Loss Amounts to the Classes of New Certificates by reducing the Certificate Principal Balance of each Class of New Certificates, pro rata, based on Certificate Principal Balance of each such Class until the Certificate Principal Balance of each such Class is reduced to zero. Any Loss Amounts or Class A Loss Amounts allocated to a Class of Certificates shall be allocated among the Certificates of such Class in proportion to their respective Percentage Interests."
Sample 1
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Allocation of Loss Amounts. The Servicer shall allocate to each Series an amount equal to the product, as determined by the Servicer, of (A) the Floating Allocation Percentage for such Series and (B) the aggregate amount of Loss Amounts received during the related Collection Period.
Sample 1
Allocation of Loss Amounts. On each Distribution Date and Supplemental Distribution Date, the Trustee shall determine the Loss Amounts and shall allocate any such Loss Amount with respect to a Distribution Date or a Supplemental Distribution Date first to the Related Group of Pooled Securities or among the Related Groups of Pooled Securities which include portions of the Pooled Security as to which the Realized Loss was incurred based on the Pooled Security Principal Balance of such Pooled Security included in each such Related Group of Pooled Securities and then to the related Class of Certificates by reducing its Certificate Principal Balance. In the case of the Class A-1 and Class A-9 Certificates, Loss Amounts allocated to their Related Group of Pooled Securities will be allocated to the Class A-1 and Class A-9 Certificates pro rata based upon their Certificate Principal Balances immediately prior to the related Distribution Date or, in the case of the Class A-9 Certificates, their original Certificate Principal Balance, if less. The Trustee will make such reductions as of the related Distribution Date. Any Loss Amounts allocated to a Class of Certificates shall be allocated among the Certificates of such Class in proportion to their respective Percentage Interests.
Sample 1
Allocation of Loss Amounts. On each Distribution Date and Supplemental Distribution Date, the Trustee shall determine the Loss Amounts and shall allocate it to the Certificates by reducing the Certificate Principal Balance of the Classes of Certificates other than the Class X and Class PO Certificates (in reverse alphabetical order commencing with the Class H Certificates) until the respective Certificate Principal Balances thereof are reduced to zero. Any Loss Amounts allocated to a Class of Certificates shall be allocated among the Certificates of such Class in proportion to their respective Percentage Interests.
Sample 1
Allocation of Loss Amounts. Class I Loss Amounts and Class II Loss Amounts will be allocated to the Class I Certificates and Class II Certificates, respectively, on each Distribution Date on a pro rata basis in accordance with their respective Certificate Principal Balances; provided, however, that (a) Class I Loss Amounts otherwise allocable to the Class I-A-1 Certificates will be allocated to the Class I-A-3A Component until the Certificate Principal Balance of the Class I-A-3A Component has been reduced to zero, (b) Class I Loss Amounts otherwise allocable to the Class I-A-4 Certificates will be allocated to the Class I-A-3B Component until the Certificate Principal Balance of the Class I-A-3B Component has been reduced to zero and (c) Class II Loss Amounts otherwise allocable to the Class II-A-1 Certificates will be allocated to the Class II-A-2 Certificates until the Certificate Principal Balance of the Class II-A-2 Certificates has been reduced to zero. Class I Loss Amounts allocable to the Class I-A-3 Certificates that are not allocated in accordance with clause (a) or clause (b) of the preceding sentence will be allocated between the Class I-A-3A Component and the Class I-A-3B Component on a pro rata basis in accordance with their respective Certificate Principal Balances. In addition, the Classes of Exchangeable Certificates outstanding on any Distribution Date shall bear the share of Loss Amounts and interest shortfalls allocable to such Class of Certificates as provided in this Section 3.09 and the definition of Accrued Certificate Interest. Any Exchanged Certificates outstanding on any Distribution Date will be allocated the Loss Amounts and interest shortfalls that would be allocable to each Class of Exchangeable Certificates pursuant to this Section 3.09 and the definition of Accrued Certificate Interest were such Classes of Exchangeable Certificates outstanding on such date.
Sample 1
Allocation of Loss Amounts. 39 Section 3.13. Prohibited Transactions Taxes and Other Taxes....40 Section 3.14. Tax Administration...............................40 Section 3.15. Appointment of Paying Agent and Certificate Administrator.................................41 Section 3.16. Equal Status of Trustee Fee......................42 Section 3.17. Maintenance of the Rounding Accounts; Collections Thereunder........................42
Sample 1
Allocation of Loss Amounts. On each Distribution Date, the Paying Agent and/or the Certificate Administrator and/or the Trustee, as applicable, shall determine the Loss Amounts and shall allocate it to the Certificates by reducing the Certificate Principal Balance of the Classes of Certificates and the Component Principal Balance of the Components of Certificates other than Component A-2-C and Component A-3-C of the Class A Certificates until the respective Certificate Principal Balances thereof are reduced to zero. All Loss Amounts will be allocated as follows: first, to the Subordinate Certificates, by Pro Rata Allocation, until the aggregate Class Principal Balance thereof has been reduced to zero and second, to the Senior Certificates and Components (other than Component A-2-C and Component A-3-C of the Class A Certificates) by Pro Rata Allocation, until the aggregate Class Principal Balance or Component Principal Balance thereof has been reduced to zero.
Sample 1
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Related to Allocation of Loss Amounts

  • Allocation of Losses Section 5.04

  • Determination of Loss Amount The amount of any Loss subject to indemnification under Section 9.02 or Section 9.03 shall be calculated net of (i) any Tax Benefit actually received by the Indemnitee or any of its Affiliates on account of such Loss within one (1) year of such Loss and (ii) any insurance proceeds or any indemnity, contribution or other similar payment received by the Indemnitee from any third party with respect thereto (including under or pursuant to any insurance policy, title insurance policy, indemnity, reimbursement arrangement or contract pursuant to which or under which such Indemnitee or any of its Affiliates is a party or has rights) (the “Alternative Arrangements”), in each case net of the costs of collection and any increases in premiums or Taxes with respect to such proceeds. If the Indemnitee receives a Tax Benefit within one (1) year after an indemnification payment is made to it, the Indemnitee shall promptly pay to the Indemnitor the amount of such Tax Benefit (up to the amount of the indemnification payments previously made in respect of such Loss) at such time or times as and to the extent that such Tax Benefit is actually realized by the Indemnitee. For purposes hereof, “Tax Benefit” shall mean any refund of Taxes paid or reduction in the amount of Taxes which otherwise would have been paid, in either case realized in cash, net of any related Tax Losses. The Indemnitee shall use commercially reasonable efforts to seek full recovery under all Alternative Arrangements covering any Loss to the same extent as they would if such Loss were not subject to indemnification hereunder. In the event that an insurance or other recovery is made by any Indemnitee with respect to any Loss for which any such Person has been indemnified hereunder, then a refund equal to the aggregate amount of the recovery (up to the amount of the indemnification payments previously made in respect of such Loss) shall be made promptly to the Indemnitor.

  • Allocation of Applied Realized Loss Amounts Any Applied Realized Loss Amounts shall be allocated by the Trustee to the most junior Class of Subordinated Certificates then Outstanding in reduction of the Class Certificate Balance thereof.

  • Allocation of Realized Losses Prior to each Distribution Date, the Master Servicer shall determine the total amount of Realized Losses, if any, that resulted from any Cash Liquidation, Servicing Modification, Debt Service Reduction, Deficient Valuation or REO Disposition that occurred during the related Prepayment Period or, in the case of a Servicing Modification that constitutes a reduction of the interest rate on a Mortgage Loan, the amount of the reduction in the interest portion of the Monthly Payment due during the related Due Period. The amount of each Realized Loss shall be evidenced by an Officers' Certificate. All Realized Losses, other than Excess Special Hazard Losses, Extraordinary Losses, Excess Bankruptcy Losses or Excess Fraud Losses, shall be allocated as follows: first, to the Class B-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; second, to the Class B-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-3 Certificates until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class M-2 Certificates until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class M-1 Certificates until the Certificate Principal Balance thereof has been reduced to zero; and, thereafter, if any such Realized Losses are on a Discount Mortgage Loan, to the Class A-P Certificates in an amount equal to the Discount Fraction of the principal portion thereof, and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non-Discount Mortgage Loans will be allocated among all the Senior Certificates (other than the Class A-V Certificates and Class A-P Certificates) in the case of the principal portion of such loss on a pro rata basis and among all of the Senior Certificates (other than the Class A-P Certificates) in the case of the interest portion of such loss on a pro rata basis, as described below. Any Excess Special Hazard Losses, Excess Bankruptcy Losses, Excess Fraud Losses, Extraordinary Losses on Non-Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. The principal portion of such Realized Losses on the Discount Mortgage Loans will be allocated to the Class A-P Certificates in an amount equal to the Discount Fraction thereof and the remainder of such Realized Losses on the Discount Mortgage Loans and the entire amount of such Realized Losses on Non- Discount Mortgage Loans will be allocated among the Senior Certificates (other than the Class A-P Certificates) and Subordinate Certificates, on a pro rata basis, as described below. As used herein, an allocation of a Realized Loss on a "pro rata basis" among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date in the case of the principal portion of a Realized Loss or based on the Accrued Certificate Interest thereon payable on such Distribution Date (without regard to any Compensating Interest for such Distribution Date) in the case of an interest portion of a Realized Loss. Except as provided in the following sentence, any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to a Class of Certificates shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated, which allocation shall be deemed to have occurred on such Distribution Date; provided that no such reduction shall reduce the aggregate Certificate Principal Balance of the Certificates below the aggregate Stated Principal Balance of the Mortgage Loans. Any allocation of the principal portion of Realized Losses (other than Debt Service Reductions) to the Subordinate Certificates then outstanding with the Lowest Priority shall be made by operation of the definition of "Certificate Principal Balance" and by operation of the provisions of Section 4.02(a). Allocations of the interest portions of Realized Losses (other than any interest rate reduction resulting from a Servicing Modification) shall be made in proportion to the amount of Accrued Certificate Interest and by operation of the definition of "Accrued Certificate Interest" and by operation of the provisions of Section 4.02(a). Allocations of the interest portion of a Realized Loss resulting from an interest rate reduction in connection with a Servicing Modification shall be made by operation of the provisions of Section 4.02(a). Allocations of the principal portion of Debt Service Reductions shall be made by operation of the provisions of Section 4.02(a). All Realized Losses and all other losses allocated to a Class of Certificates hereunder will be allocated among the Certificates of such Class in proportion to the Percentage Interests evidenced thereby; provided that if any Subclasses of the Class A-V Certificates have been issued pursuant to Section 5.01(c), such Realized Losses and other losses allocated to the Class A-V Certificates shall be allocated among such Subclasses in proportion to the respective amounts of Accrued Certificate Interest payable on such Distribution Date that would have resulted absent such reductions.

  • Allocation of Realized Losses and Additional Trust Fund Expenses (a) On each Distribution Date, following the distributions to Certificateholders to be made on such date pursuant to Section 4.01, the Certificate Administrator shall determine the amount, if any, by which (i) the then-aggregate of the Class Principal Balances of all the Classes of Principal Balance Certificates (other than the Class A-S, Class B, Class C and Class PEX Certificates) and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest, exceeds (ii) the aggregate Stated Principal Balance of the Mortgage Pool that will be outstanding immediately following such Distribution Date. If such excess does exist, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portions of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the Class Principal Balances of the Class G, Class F, Class E and Class D Certificates and the Class C, Class B and Class A-S Regular Interests shall be reduced sequentially, in that order, in each case, until such excess or the related Class Principal Balance is reduced to zero (whichever occurs first). If, after the foregoing reductions, the amount described in clause (i) of the second preceding sentence still exceeds the amount described in clause (ii) of such sentence, then, except to the extent that such excess exists because of the reimbursement of Workout-Delayed Reimbursement Amounts (from the principal portion of P&I Advances and/or payments or other collections of principal on the Mortgage Pool pursuant to Section 3.05(a)(II)(iii)) during any prior Collection Period (other than those that were determined to constitute Nonrecoverable Advances in the immediately preceding Collection Period), the respective Class Principal Balances of all the outstanding Classes of the Class A Certificates shall be reduced on a pro rata basis in accordance with the relative sizes of such Class Principal Balances, until any such remaining excess is reduced to zero. All reductions in the Class Principal Balances of the respective Classes of the Principal Balance Certificates and the Class A-S Regular Interest, Class B Regular Interest and Class C Regular Interest under this Section 4.04(a) shall constitute allocations of Realized Losses and Additional Trust Fund Expenses. Any reduction in the Class Principal Balance of the Class C Regular Interest, Class B Regular Interest or Class A-S Regular Interest for any Distribution Date pursuant to this Section 4.04(a) shall be allocated (i) in the case of the Class C Regular Interest, between the Class C Certificates and Class C-PEX Component in accordance with the Class C Percentage Interest for such Distribution Date and the Class C-PEX Percentage Interest for such Distribution Date, respectively, (ii) in the case of the Class B Regular Interest, between the Class B Certificates and Class B-PEX Component in accordance with the Class B Percentage Interest for such Distribution Date and the Class B-PEX Percentage Interest for such Distribution Date, respectively and (iii) in the case of the Class A-S Regular Interest, between the Class A-S Certificates and Class A-S-PEX Component in accordance with the Class A-S Percentage Interest for such Distribution Date and the Class A-S-PEX Percentage Interest for such Distribution Date, respectively.

  • Calculation of Losses (a) The amount of any Losses payable under Section 4.1 by the Indemnifying Party shall be net of any (i) amounts recovered or recoverable by the Indemnified Party under applicable insurance policies or from any other person alleged to be responsible therefor, and (ii) net tax benefit realized by the Indemnified Party arising from the incurrence or payment of any such Losses during a taxable year that includes or precedes the taxable period in which payment in respect of such Loss is due under Section 4.1; provided that (x) no such reduction for such tax benefit shall occur prior to the time at which such tax benefit is actually realized and (y) to the extent that such net tax benefit is actually realized after the date on which payment in respect of such Loss is made or deemed made under Section 4.1 (but during a taxable year that includes or precedes the taxable period in which payment in respect of such Loss is due under Section 4.1), the Indemnified Party shall reimburse the party or parties obligated to indemnify such Indemnified Party in respect of such Loss promptly following the time at which such tax benefit is actually realized. The Indemnified Party shall be deemed to have “actually realized” a net tax benefit to the extent that, and at such time as, the amount of taxes paid by the Indemnified Party or any of its Affiliates is reduced below the amount of taxes that such persons would have been required to pay but for the tax benefit. In computing the amount of any such tax benefit, the Indemnified Party shall be deemed to recognize all other items of income, gain, loss, deduction or credit before recognizing any items arising from the incurrence or payment of any Losses for which indemnification is provided under Section 4.1. If the Indemnified Party receives any amounts under applicable insurance policies, or from any other person alleged to be responsible for any Losses, subsequent to an indemnification payment by the Indemnifying Party, then such Indemnified Party shall promptly reimburse the Indemnifying Party for any payment made or expense incurred by such Indemnifying Party in connection with providing such indemnification payment up to the amount received by the Indemnified Party, net of any expenses incurred by such Indemnified Party in collecting such amount.

  • Determination of Losses A certificate or determination notice of the Agents and the Lenders as to any of the matters referred to in this Section 12, absent manifest error, shall be conclusive and binding on the Borrower.

  • Allocation of Recoveries (a) If more than one of the parties hereto is damaged in a single loss for which recovery is received under the policy, each such party shall receive that portion of the recovery which represents the loss sustained by that party, unless the recovery is inadequate to fully indemnify such party sustaining loss.

  • Payment of Losses The indemnification required hereunder shall be made by monthly payments of the amount thereof during the course of the investigation or defense, within 30 days as and when reasonably specific bills are received or Loss is incurred and reasonable evidence thereof is delivered. In calculating any amount to be paid by an Indemnifying Party by reason of the indemnification provisions of this Agreement, the amount to be paid shall be reduced by (i) any insurance proceeds related to indemnified Losses realized by the Indemnified Party and (ii) any amounts related to indemnified Losses recovered by the Indemnified Party under contractual indemnities from third parties.

  • Distribution of Liquidation Proceeds Subject to the terms and conditions hereof, the Administrative Agent shall distribute all Liquidation Proceeds in the order and manner set forth below:

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