Common use of Allocation of Realized Losses; Recoveries Clause in Contracts

Allocation of Realized Losses; Recoveries. (a) For any Distribution Date prior to the Subordination Depletion Date, any Applied Loss Amount will be allocated to the Subclasses of Class M Certificates, first to the Class M Subclass with the highest numerical designation and then in order of decreasing numerical designation, until their respective Class M Subclass Principal Balance has been reduced to zero. This allocation of Applied Loss Amounts will be effected through the reduction of the applicable Subclass Principal Balance. Any Applied Loss Amount allocated in accordance with this Section 13.02 will be allocated on the Distribution Date following the Collection Period in which such loss was incurred and after giving effect to distributions made under Section 13.01 on such Distribution Date. (b) Any Applied Loss Amount allocated to a Subclass of Class M Certificates pursuant to Section 13.02(a) shall be allocated among the Certificates of such Subclass pro rata based on their respective Principal Balances. (c) In the event that Net Subsequent Recoveries are received by the Servicer during a Prepayment Collection Period, immediately prior to the Distribution Date to which such Prepayment Collection Period relates, an amount equal to the amount of such Net Subsequent Recoveries shall be added to the outstanding Class M Subclass Principal Balances of the Class M Subclasses, in order of increasing numerical designation, but only if and to the extent that the Class M Subclass had theretofore been allocated any Applied Loss Amount. (d) No Civil Relief Shortfall Amount, Net Civil Relief Amount, Unsupported Prepayment Interest Shortfall or Net Non-Supported Amount will accrue interest.

Allocation of Realized Losses; Recoveries. (a) For any Distribution Date prior to the Subordination Depletion Date, any Applied Loss Amount will be allocated to the Subclasses of Class M Certificates, first to the Class M Subclass with the highest numerical designation and then in order of decreasing numerical designation, until their respective Class M Subclass Principal Balance has been reduced to zero. This allocation of Applied Loss Amounts will be effected through the reduction of the applicable Subclass Principal Balance. Any Applied Loss Amount allocated in accordance with this Section 13.02 will be allocated on the Distribution Date following the Collection Period in which such loss was incurred and after giving effect to distributions made under Section 13.01 on such Distribution Date. (b) Any Applied Loss Amount allocated to a Subclass of Class M Certificates pursuant to Section 13.02(a) shall be allocated among the Certificates of such Subclass pro rata based on their respective Principal Balances. (c) In the event that Net Subsequent Recoveries are received by the Servicer during a Prepayment Collection Period, immediately prior to the Distribution Date to which such Prepayment Collection Period relates, an amount equal to the amount of such Net Subsequent Recoveries shall be added to the outstanding Class M Subclass Principal Balances of the Class M Subclasses, in order of increasing numerical designation, but only if and to the extent that the Class M Subclass had theretofore been allocated any Applied Loss Amount. (d) No Civil Relief Shortfall Amount, Net Civil Relief Amount, Unsupported Non-Supported Prepayment Interest Shortfall, Non-Supported Simple Interest Shortfall or Net Non-Supported Amount will accrue interest.

Allocation of Realized Losses; Recoveries. (a) For any Distribution Date prior to the Subordination Depletion DateDate for a Group, any Applied Loss Amount for the related Pool will be allocated to the Subclasses of Class M CertificatesCertificates of that Group, first to the Class M Subclass with the highest numerical designation and then in order of decreasing numerical designation, until their respective Class M Subclass Principal Balance has been reduced to zero. This allocation of Applied Loss Amounts will be effected through the reduction of the applicable Subclass Principal Balance. Any Applied Loss Amount allocated in accordance with this Section 13.02 will be allocated on the Distribution Date following the Collection Period in which such loss was incurred and after giving effect to distributions made under Section 13.01 on such Distribution Date. (b) Any Applied Loss Amount allocated to a Subclass of Class M Certificates pursuant to Section 13.02(a) shall be allocated among the Certificates of such Subclass pro rata based on their respective Principal Balances. (c) In the event that Net Subsequent Recoveries are received by the Servicer during there is a Prepayment Collection Period, immediately prior to the Distribution Date to which such Prepayment Collection Period relates, recovery of an amount equal in respect of principal which had previously been allocated as an Applied Loss Amount to any one or more Subclasses of Class M Certificates in a Group, the amount of such Net Subsequent Recoveries recovery shall be added distributed to the outstanding Holders of Subclasses of Class M Subclass Principal Balances Certificates of the Class M Subclassesthat Group, in order of increasing numerical designation, but only if and to the extent that the Class M Subclass had theretofore been allocated any Applied Loss AmountAmount (“Reimbursed Class M Losses”). A Subclass of Certificates that is no longer Outstanding shall not be entitled to any share of any such recovery. (d) No Civil Relief Shortfall Amount, Net Civil Relief Amount, Unsupported Prepayment Non-Supported Interest Shortfall or Net Non-Supported Amount will accrue interest.

Allocation of Realized Losses; Recoveries. (a) For With respect to any Distribution Date prior to the Subordination Depletion Date, any Applied Loss Amount the applicable Non-PO Percentage of the principal portion of Realized Losses (other than Debt Service Reductions, Excess Special Hazard Losses, Excess Fraud Losses and Excess Bankruptcy Losses) will be allocated as follows: first, to the Subclasses of Class M CertificatesB-5 CitiCertificates until their Class B Subclass Stated Amount has been reduced to zero; second, first to the Class B-4 CitiCertificates until their Class B Subclass Stated Amount has been reduced to zero; third, to the Class B-3 CitiCertificates until their Class B Subclass Stated Amount has been reduced to zero; fourth, to the Class B-2 CitiCertificates until their Class B Subclass Stated Amount has been reduced to zero; fifth, to the Class B-1 CitiCertificates until their Class B Subclass Stated Amount has been reduced to zero; and sixth, to the Class M Subclass with the highest numerical designation and then in order of decreasing numerical designation, CitiCertificates until their respective Class M Subclass Principal Balance Stated Amount has been reduced to zero. With respect to any Distribution Date, the applicable PO Percentage of such losses will be allocated to the Stated Amount of the Class A-__ CitiCertificates. With respect to any Distribution Date on or after the Subordination Depletion Date, the applicable Non-PO Percentage of such losses will be allocated to the Class A CitiCertificates (other than the Class A-__ CitiCertificates), based on their Class A Subclass Loss Percentage. Notwithstanding the foregoing, on each Distribution Date so long as the Class A-__ CitiCertificates are outstanding, the Class A-__ Loss Amount shall be applied to reduce the Stated Amount of the Class A-__ CitiCertificates to the extent of the Class A-__ Loss Allocation Amount. This allocation of Applied Loss Amounts Realized Losses will be effected through the reduction of the applicable Class or Subclass Principal BalanceStated Amount, as the case maybe. Any Applied Loss Amount allocated in accordance with this Section 13.02 will be allocated on the Distribution Date following the Collection Period in which such loss was incurred and after giving effect to distributions made under Section 13.01 on such Distribution Date. (b) Any Applied Loss Amount allocated to a Subclass of Class M Certificates pursuant to Section 13.02(a) shall be allocated among the Certificates of such Subclass pro rata based on their respective Principal Balances. (c) In the event that Net Subsequent Recoveries are received by the Servicer during a Prepayment Collection Period, immediately prior [Subject to the Distribution Date to which such Prepayment Collection Period relates, an amount equal to the amount of such Net Subsequent Recoveries shall be added to the outstanding Class M Subclass Principal Balances terms of the Class M SubclassesInsurance Policy, in order of increasing numerical designationany Realized Losses, but only if including Excess Special Hazard Losses, Excess Fraud Losses and to the extent that the Class M Subclass had theretofore been allocated any Applied Loss Amount. (d) No Civil Relief Shortfall Amount, Net Civil Relief Amount, Unsupported Prepayment Interest Shortfall or Net Non-Supported Amount will accrue interest.Excess

Allocation of Realized Losses; Recoveries. (a) For any Distribution Date prior to the Subordination Depletion Date, any Applied Loss Amount will be allocated as follows: first, to the Class CE Certificates, until their Principal Balance has been reduced to zero; second, to the Subclasses of Class B Certificates, first to the Class B Subclass with the highest numerical designation and then in order of decreasing numerical designation, until their respective Class B Subclass Principal Balance has been reduced to zero; and third, to the Subclasses of Class M Certificates, first to the Class M Subclass with the highest numerical designation and then in order of decreasing numerical designation, until their respective Class M Subclass Principal Balance has been reduced to zero. This allocation of Applied Loss Amounts will be effected through the reduction of the applicable Class or Subclass Principal Balance, as the case may be. (b) Any Applied Loss Amount allocated to the Class CE Certificates or a Subclass of Class M or Class B Certificates pursuant to Section 13.02(a) shall be allocated among the Certificates of such Subclass or Class pro rata based on their respective Principal Balances. (c) In the event that there is a recovery of an amount in respect of principal which had previously been allocated as an Applied Loss Amount to the Class CE Certificates or any one or more Subclasses of Class M Certificates or Class B Certificates, the amount of such recovery shall be distributed to Holders of Subclasses of Class M Certificates, in order of increasing numerical designation, but only if and to the extent that the Class M Subclass had theretofore been allocated any Applied Loss Amount ("Reimbursed Class M Losses"), then to the Subclasses of Class B Certificates, in order of increasing numerical designation, but only if and to the extent that the Class B Subclass had theretofore been allocated any Applied Loss Amount ("Reimbursed Class B Losses"), and then to Holders of the Class CE Certificates. A Subclass or Class of Certificates that is no longer Outstanding shall not be entitled to any share of any such recovery. (d) Any Applied Loss Amount allocated in accordance with this Section 13.02 will be allocated on the Distribution Date following the Collection Period in which such loss was incurred and after giving effect to distributions made under Section 13.01 on such Distribution Date. (b) Any Applied Loss Amount allocated to a Subclass of Class M Certificates pursuant to Section 13.02(a) shall be allocated among the Certificates of such Subclass pro rata based on their respective Principal Balances. (c) In the event that Net Subsequent Recoveries are received by the Servicer during a Prepayment Collection Period, immediately prior to the Distribution Date to which such Prepayment Collection Period relates, an amount equal to the amount of such Net Subsequent Recoveries shall be added to the outstanding Class M Subclass Principal Balances of the Class M Subclasses, in order of increasing numerical designation, but only if and to the extent that the Class M Subclass had theretofore been allocated any Applied Loss Amount. (d) No Civil Relief Shortfall Amount, Net Civil Relief Amount, Unsupported Prepayment Interest Shortfall or Net Non-Supported Amount will accrue interest.