Common use of Allocation Realized Losses Clause in Contracts

Allocation Realized Losses. (a) Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Loan. (b) Realized Losses, other than Excess Losses, shall be allocated as follows: (i) for losses allocable to principal, (a) first, sequentially, to the Class [___], Class [___], Class [___], Class [___], Class [___]and Class [___] Certificates, in that order, until the Certificate Principal Balance of each such Class been reduced to zero and (b) second, (1) with respect to Realized Losses related to the Group I Loans, concurrently to each Class of the Group I Senior Certificates (other than the Class [___] Certificates and Class [___] Certificates) on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero, and (2) with respect to Realized Losses related to the Group II Loans, concurrently to each Class of Group II Senior Certificates (other than the Class [___] Certificates) until the Certificate Principal Balance of each such Class has been reduced to zero, provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero; provided, however, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group I Discount Loan, the Group I Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); provided, further, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); and (ii) for losses allocable to interest, (a) first, sequentially, to the Class [___], Class [___], Class [___], Class [___], Class [___] and Class [___] Certificates, in that order, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate on such Distribution Date has been reduced to zero, and then in reduction of the Certificate Principal Balance of such Certificate until the Certificate Principal Balance thereof has been reduced to zero, and (b) second, to the Senior Certificates relating to the Loan Group for which such Realized Losses were incurred, by Pro Rata Allocation, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate has been reduced to zero and then with respect to the Senior Certificates (other than the Class [___], Class [___], Class [___], Class [___] and Class [___] Certificates), in reduction of the Certificate Principal Balance of each such Certificate until the aggregate of the Certificate Principal Balances thereof have been reduced to zero; provided, that (1) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (2) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. In the event that a Servicer receives any Subsequent Recoveries, such Subsequent Recoveries shall be distributed as part of the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, in accordance with the priorities in Section 4.1, and the Certificate Principal Balance of each Class of Subordinate Certificates that has been reduced by the allocation of a Realized Loss to such Certificate shall be increased, in order of seniority, by the amount of such Subsequent Recoveries. Holders of such Certificates are not entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. (c) Excess Losses with respect to the Loans will be allocated to the outstanding Class or Classes of Senior Certificates (other than the Class [___], Class [___] and Class [___] Certificates) of the related Loan Group and to the Subordinate Certificates by Pro Rata Allocation; provided, that (i) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. (d) On each Distribution Date, if the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___], Class [___] and Class [___] Certificates) and Subordinate Certificates exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the related Certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the Subordinate Certificates in reverse order of seniority until the Certificate Principal Balance of each such Class has been reduced to zero. If the Certificate Principal Balance of each Class of Subordinate Certificates has been reduced to zero and the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___], Class [___] and Class [___] Certificates) exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the Certificates on such Distribution Date), such excess will be deemed a principal loss and, (i) if attributable to the Group I Loans, will be allocated to the Group I Senior Certificates (other than the Class [___] Certificates and Class [___] Certificates) by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) if attributable to the Group II Loans, will be allocated to the Group II Senior Certificates (other than the Class [___] Certificates), by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. Realized Losses from the Loans shall be applied after all distributions have been made on each Distribution Date, to each REMIC I Regular Interest in the same manner and priority as Realized Losses are allocated to the Corresponding Certificates.

Allocation Realized Losses. (a) Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Group I Loan and Group II Loan. (b) Realized Losses, other than Excess Losses, shall be allocated as follows: : (i) for losses allocable to principal, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___]B-1 and Class [___] M Certificates, in that order, until the Certificate Principal Balance of each such Class been reduced to zero zero, and (b) second, (1) with respect to Realized Losses related to the Group I Loans, concurrently to the Class I-A-1, Class I-A-3 and Class I-A-4 Certificates, on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of such Class has been reduced to zero; provided, that the pro rata portion of any such Realized Loss allocable to the Class I-A-3 Certificates will be allocated first to the Class I-A-4 Certificates, until the Certificate Principal Balance of the Group I Senior Class I-A-4 Certificates (other than has been reduced to zero, and then to the Class [___] I-A-3 Certificates, until the Certificate Principal Balance of the Class I-A-3 Certificates has been reduced to zero and with respect to Realized Losses related to the Group II Mortgage Loans, to the Class II-A-1 Certificates and Class [___] R Certificates) , on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero, and (2) with respect to Realized Losses related to the Group II Loans, concurrently to each Class of Group II Senior Certificates (other than the Class [___] Certificates) until the Certificate Principal Balance of each such Class has been reduced to zero, provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero; provided, however, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group I Discount Loan, the Group I Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); provided, further, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); and (ii) for losses allocable to interest, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___] B-1 and Class [___] M Certificates, in that order, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate on such Distribution Date has been reduced to zero, and then in reduction of the Certificate Principal Balance of such Certificate until the Certificate Principal Balance thereof has been reduced to zero, and (b) second, to the Senior Certificates relating to the Loan Group for which such Realized Losses were have been incurred, by Pro Rata Allocation, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate has been reduced to zero and then with respect to the Senior Certificates (other than the Class [___], Class [___], Class [___], Class [___] and Class [___] Certificates), in reduction of the Certificate Principal Balance of each such Certificate Allocation until the aggregate of the Certificate Principal Balances thereof have been reduced to zero; provided, provided that (1) the Pro Rata Allocation of any such loss Realized Loss allocable to the Class [___] Certificates and Class [___] I-A-3 Certificates will be allocated first to the Class [___] I-A-4 Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] I-A-3 Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (2) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. In the event that a Servicer receives any Subsequent Recoveries, such Subsequent Recoveries shall be distributed as part of the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, in accordance with the priorities in Section 4.1, and the Certificate Principal Balance of each Class of Subordinate Certificates that has been reduced by the allocation of a Realized Loss to such Certificate shall be increased, in order of seniority, by the amount of such Subsequent Recoveries. Holders of such Certificates are not entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. (c) Excess Losses with respect to the Group I Loans and Group II Loans will be allocated to the outstanding Class or Classes of Senior Certificates (other than the Class [___], Class [___] and Class [___] I-A-2 Certificates) of the related Loan Group and to the Subordinate Certificates by Pro Rata Allocation; provided, that (i) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. (d) On each Distribution Date, if the aggregate Certificate Principal Balance of the Group I Senior Certificates (other than the Class [___]I-A-2 Certificates), Class [___] and Class [___] Certificates) Group II Senior Certificates and Subordinate Certificates exceeds the aggregate Principal Balance of the Group I Loans and Group II Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the related Certificates certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the Subordinate Certificates in reverse order of seniority until the Certificate Principal Balance of each such Class has been reduced to zero. If the Certificate Principal Balance of each Class of Subordinate Certificates Certificate has been reduced to zero and the aggregate Certificate Principal Balance of the Group I Senior Certificates (other than the Class [___], Class [___] and Class [___] I-A-2 Certificates) and Group II Senior Certificates exceeds the aggregate Principal Balance of the Group I Loans and Group II Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the Certificates on such Distribution Date), such excess will be deemed a principal loss and, (i) if attributable to the Group I Loans, will be allocated to the Group I Senior Certificates (other than the Class [___] Certificates and Class [___] I-A-2 Certificates) by Pro Rata Allocation, Allocation until the Certificate Principal Balance of each such Class has been reduced to zero; provided, provided that the Pro Rata Allocation of any such Realized Loss allocable to the Class [___] Certificates and Class [___] I-A-3 Certificates will be allocated first to the Class [___] I-A-4 Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] I-A-3 Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) if attributable to the Group II Loans, will be allocated to the Group II Senior Certificates (other than the Class [___] Certificates), by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. . (e) Realized Losses from the Group I Loans and Group II Loans shall be applied after all distributions have been made on each Distribution Date, first, to each REMIC I Regular Interest LT-1SUB and REMIC I Regular Interest LT-2SUB, as applicable, so that the Uncertificated Balance of each such REMIC I Regular Interest is equal to 0.1% of the excess of (x) the aggregate Scheduled Principal Balance of the Loans in the same manner and priority related Loan Group over (y) the current Certificate Principal Balance of the Group I Senior Certificates (other than the Class I-A-2 Certificates) or Group II Senior Certificates, as applicable (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses are shall be applied to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and second, any remaining Realized Losses from each Loan Group shall be allocated to REMIC I Regular Interest LT-ZZZ. Realized Losses from the Corresponding CertificatesGroup I Loans and the Group II Loans shall be applied after all distributions have been made on each Distribution Date, first, to REMIC II Regular Interest LT-ISUB and REMIC II Regular Interest LT-IISUB, respectively, and second, any remaining Realized Losses from each Loan Group shall be allocated to REMIC II Regular Interest LT-IA and REMIC II Regular Interest LT-IIA1, respectively.

Allocation Realized Losses. (a) Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Loan. (b) Realized Losses, other than Excess Losses, shall be allocated as follows: (i) for losses allocable to principal, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___]B-1 and Class [___] M Certificates, in that order, until the Certificate Principal Balance of each such Class been reduced to zero and (b) second, (1) with respect to Realized Losses related to the Group I Loans, concurrently to each Class of the Group I Senior Certificates (other than the Class [___] Certificates and Class [___] I-A-IO Certificates) ), on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of each such Class has been reduced to zero; provided, provided that the pro rata portion of any such Realized Loss allocable to the Class [___] Certificates and Class [___] I-A-1 Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, I-A-2 Certificates until the Certificate Principal Balance of the Class [___] I-A-2 Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero, ; and (2) with respect to Realized Losses related to the Group II Loans, concurrently to each Class of the Group II Senior Certificates (other than the Class [___] II-A-IO Certificates) ), until the Certificate Principal Balance of each such Class has been reduced to zero, provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero; provided, however, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group I Discount Loan, the Group I Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); provided, further, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); zero and (ii) for losses allocable to interest, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___] B-1 and Class [___] M Certificates, in that order, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate on such Distribution Date has been reduced to zero, and then in reduction of the Certificate Principal Balance of such Certificate until the Certificate Principal Balance thereof has been reduced to zero, and (b) second, to the Senior Certificates relating to the Loan Group for which such Realized Losses were incurred, by Pro Rata Allocation, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate has been reduced to zero and then with respect to the Senior Certificates (other than the Class [___], Class [___], Class [___], Class [___] I-A-IO Certificates and Class [___] II-A-IO Certificates), in reduction of the Certificate Principal Balance of each such Certificate until the aggregate of the Certificate Principal Balances thereof have been reduced to zero; provided, provided that (1) the Pro Rata Allocation of any such loss Realized Loss allocable to the Class [___] Certificates and Class [___] I-A-1 Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (2) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] I-A-2 Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] I-A-2 Certificates has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. In the event that a Servicer receives any Subsequent Recoveries, such Subsequent Recoveries shall be distributed as part of the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, in accordance with the priorities in Section 4.1, and the Certificate Principal Balance of each Class of Subordinate Certificates that has been reduced by the allocation of a Realized Loss to such Certificate shall be increased, in order of seniority, by the amount of such Subsequent Recoveries. Holders of such Certificates are not entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. (c) Excess Losses with respect to the Loans will be allocated to the outstanding Class or Classes of Senior Certificates (other than the Class [___], Class [___] I-A-IO Certificates and Class [___] II-A-IO Certificates) of the related Loan Group and to the Subordinate Certificates by Pro Rata Allocation; provided, provided that (i) the Pro Rata Allocation of any such loss Realized Loss allocable to the Class [___] Certificates and Class [___] I-A-1 Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] I-A-2 Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] I-A-2 Certificates has been reduced to zero. (d) On each Distribution Date, if the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___], Class [___] I-A-IO Certificates and Class [___] II-A-IO Certificates) and Subordinate Certificates exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the related Certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the Subordinate Certificates in reverse order of seniority until the Certificate Principal Balance of each such Class has been reduced to zero. If the Certificate Principal Balance of each Class of Subordinate Certificates Certificate has been reduced to zero and the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___], Class [___] I-A-IO Certificates and Class [___] II-A-IO Certificates) exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the Certificates on such Distribution Date), such excess will be deemed a principal loss and, (i) if attributable to the Group I Loans, will be allocated to the Group I Senior Certificates (other than the Class [___] Certificates and Class [___] I-A-IO Certificates) by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, provided that the Pro Rata Allocation of any such Realized Loss allocable to the Class [___] Certificates and Class [___] I-A-1 Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, I-A-2 Certificates until the Certificate Principal Balance of the Class [___] I-A-2 Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) if attributable to the Group II Loans, will be allocated to the Group II Senior Certificates (other than the Class [___] II-A-IO Certificates), ) by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. Realized Losses from the Group I Loans shall be applied after all distributions have been made on each Distribution Date, to the following REMIC I Regular Interests: first, to REMIC I Regular Interest LT-1B until the Uncertificated Principal Balance thereof has been reduced to zero, then to REMIC I Regular Interest LT-1PF until the Uncertificated Principal Balance thereof has been reduced to zero, however, with respect to the first Distribution Date, Realized Losses relating to the Initial Group I Loans shall be allocated to REMIC I Regular Interest LT-1B and Realized Losses relating to the Subsequent Group I Loans shall be allocated to REMIC I Regular Interest LT-1PF until the Uncertificated Principal Balance thereof has been reduced to zero. Realized Losses from the Group II Loans shall be applied after all distributions have been made on each Distribution Date, to the following REMIC I Regular Interests: first, to REMIC I Regular Interest LT-2B until the Uncertificated Principal Balance thereof has been reduced to zero, then to REMIC I Regular Interest LT-2PF until the Uncertificated Principal Balance thereof has been reduced to zero, however, with respect to the first Distribution Date, Realized Losses relating to the Initial Group II Loans shall be allocated to REMIC I Regular Interest LT-2B and Realized Losses relating to the Subsequent Group II Loans shall be allocated to REMIC I Regular Interest LT-2PF until the Uncertificated Principal Balance thereof has been reduced to zero. All Realized Losses on the REMIC I Regular Interests shall be deemed to be allocated after all distributions have been made on each Distribution Date, first, to REMIC II Regular Interest LT-1SUB and REMIC II Regular Interest LT-2SUB as applicable, so that the Uncertificated Balance of each such REMIC II Regular Interest is equal to 0.1% of the excess of (x) the aggregate Scheduled Principal Balance of the Loans in the related Loan Group over (y) the current Certificate Principal Balance of the related Senior Certificates (other than the Class I-A-IO Certificates and Class II-A-IO Certificates) (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses shall be applied to such REMIC II Regular Interests such that the REMIC II Subordinated Balance Ratio is maintained); and second, to REMIC II Regular Interest LT-1GRP and REMIC II Regular Interest LT-2GRP as applicable, so that the Uncertificated Principal Balance of each such REMIC II Regular Interest remains equal to 0.1% of the aggregate Scheduled Principal Balance of the related Loans, and third, any remaining Realized Losses from each Loan Group shall be allocated to REMIC II Regular Interest LT-ZZZ. Realized Losses from the REMIC II Regular Interests shall be deemed to be allocated after all distributions have been made on each Distribution Date, to each REMIC I III Regular Interest in the same manner and priority as Realized Losses are allocated to the Corresponding Certificates.

Allocation Realized Losses. (a) Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Loan. (b) Realized Losses, other than Excess Losses, shall be allocated as follows: (i) for losses allocable to principal, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___]B-1 and Class [___] M Certificates, in that order, until the Certificate Principal Balance of each such Class been reduced to zero and (b) second, (1) with respect to Realized Losses related to the Group I Loans, concurrently to each Class of the Group I Senior Certificates (other than the Class [___] I-A-2 Certificates and Class [___] I-A-IO Certificates) on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates will be allocated first to the Class [___] I-A-8 Certificates, up to a maximum amount of $[___] 411,000 with respect to the Class [___] I-A-4 Certificates, and up to a maximum amount of $[___] 8,124,000 with respect to the Class [___] I-A-1 Certificates, until the Certificate Principal Balance of the Class [___] I-A-8 Certificates has been reduced to zero, and then to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero, and (2) with respect to Realized Losses related to the Group II Loans, concurrently to each Class of Group II Senior Certificates (other than the Class [___] II-A-IO Certificates) until the Certificate Principal Balance of each such Class has been reduced to zero, provided, that any such Realized Loss allocable to the Class [___] II-A-3 Certificates will be allocated first to the Class [___] II-A-4 Certificates, until the Certificate Principal Balance of the Class [___] II-A-4 Certificates has been reduced to zero, and then to the Class [___] II-A-3 Certificates, until the Certificate Principal Balance of the Class [___] II-A-3 Certificates has been reduced to zero; provided, however, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group I Discount Loan, the Group I Discount Fraction of such loss will first be allocated to the Class [___] I-A-PO Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); provided, further, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will first be allocated to the Class [___] I-A-PO Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); and (ii) for losses allocable to interest, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___] B-1 and Class [___] M Certificates, in that order, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate on such Distribution Date has been reduced to zero, and then in reduction of the Certificate Principal Balance of such Certificate until the Certificate Principal Balance thereof has been reduced to zero, and (b) second, to the Senior Certificates relating to the Loan Group for which such Realized Losses were incurred, by Pro Rata Allocation, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate has been reduced to zero and then with respect to the Senior Certificates (other than the Class [___]I-A-2, Class [___]I-A-IO, Class [___]I-A-PO, Class [___] II-A-IO and Class [___] II-A-PO Certificates), in reduction of the Certificate Principal Balance of each such Certificate until the aggregate of the Certificate Principal Balances thereof have been reduced to zero; provided, that (1) the Pro Rata Allocation of any such loss allocable to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates will be allocated first to the Class [___] I-A-8 Certificates, up to a maximum amount of $[___] 411,000 with respect to the Class [___] I-A-4 Certificates, and up to a maximum amount of $[___] 8,124,000 with respect to the Class [___] I-A-1 Certificates, until the Certificate Principal Balance of the Class [___] I-A-8 Certificates has been reduced to zero, and then to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (2) the Pro Rata Allocation of any such loss allocable to the Class [___] II-A-3 Certificates will be allocated first to the Class [___] II-A-4 Certificates until the Certificate Principal Balance of the Class [___] II-A-4 Certificates has been reduced to zero, and then to the Class [___] II-A-3 Certificates until the Certificate Principal Balance of the Class [___] II-A-3 Certificates has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. In the event that a Servicer receives any Subsequent Recoveries, such Subsequent Recoveries shall be distributed as part of the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, in accordance with the priorities in Section 4.1, and the Certificate Principal Balance of each Class of Subordinate Certificates that has been reduced by the allocation of a Realized Loss to such Certificate shall be increased, in order of seniority, by the amount of such Subsequent Recoveries. Holders of such Certificates are not entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. (c) Excess Losses with respect to the Loans will be allocated to the outstanding Class or Classes of Senior Certificates (other than the Class [___]I-A-2, Class [___] I-A-IO and Class [___] II-A-IO Certificates) of the related Loan Group and to the Subordinate Certificates by Pro Rata Allocation; provided, that (i) the Pro Rata Allocation of any such loss allocable to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates will be allocated first to the Class [___] I-A-8 Certificates, up to a maximum amount of $[___] 411,000 with respect to the Class [___] I-A-4 Certificates, and up to a maximum amount of $[___] 8,124,000 with respect to the Class [___] I-A-1 Certificates, until the Certificate Principal Balance of the Class [___] I-A-8 Certificates has been reduced to zero, and then to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) the Pro Rata Allocation of any such loss allocable to the Class [___] II-A-3 Certificates will be allocated first to the Class [___] II-A-4 Certificates until the Certificate Principal Balance of the Class [___] II-A-4 Certificates has been reduced to zero, and then to the Class [___] II-A-3 Certificates until the Certificate Principal Balance of the Class [___] II-A-3 Certificates has been reduced to zero. (d) On each Distribution Date, if the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___]I-A-2, Class [___] I-A-IO and Class [___] II-A-IO Certificates) and Subordinate Certificates exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the related Certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the Subordinate Certificates in reverse order of seniority until the Certificate Principal Balance of each such Class has been reduced to zero. If the Certificate Principal Balance of each Class of Subordinate Certificates has been reduced to zero and the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___]I-A-2, Class [___] I-A-IO and Class [___] II-A-IO Certificates) exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the Certificates on such Distribution Date), such excess will be deemed a principal loss and, (i) if attributable to the Group I Loans, will be allocated to the Group I Senior Certificates (other than the Class [___] I-A-2 Certificates and Class [___] I-A-IO Certificates) by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates will be allocated first to the Class [___] I-A-8 Certificates, up to a maximum amount of $[___] 411,000 with respect to the Class [___] I-A-4 Certificates, and up to a maximum amount of $[___] 8,124,000 with respect to the Class [___] I-A-1 Certificates, until the Certificate Principal Balance of the Class [___] I-A-8 Certificates has been reduced to zero, and then to the Class [___] I-A-1 Certificates and Class [___] I-A-4 Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) if attributable to the Group II Loans, will be allocated to the Group II Senior Certificates (other than the Class [___] II-A-IO Certificates), by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] II-A-3 Certificates will be allocated first to the Class [___] II-A-4 Certificates until the Certificate Principal Balance of the Class [___] II-A-4 Certificates has been reduced to zero, and then to the Class [___] II-A-3 Certificates until the Certificate Principal Balance of the Class [___] II-A-3 Certificates has been reduced to zero. Realized Losses from the Loans shall be applied after all distributions have been made on each Distribution Date, to each REMIC I Regular Interest in the same manner and priority as Realized Losses are allocated to the Corresponding Certificates.

Allocation Realized Losses. (a) Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Loan. (b) Realized Losses, other than Excess Losses, shall be allocated as follows: : (i) for losses allocable to principal, (a) first, sequentially, to the Class [___[ ], Class [___[ ], Class [___[ ], Class [___[ ], Class [___][ ] and Class [___[ ] Certificates, in that order, until the Certificate Principal Balance of each such Class been reduced to zero and (b) second, (1) with respect to Realized Losses related to the Group I Loans, concurrently to each Class of the Group I Senior Certificates (other than the Class [___[ ] Certificates and Class [___[ ] Certificates) on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___[ ] Certificates and Class [___[ ] Certificates will be allocated first to the Class [___[ ] Certificates, up to a maximum amount of $[___[ ] with respect to the Class [___[ ] Certificates, and up to a maximum amount of $[___[ ] with respect to the Class [___[ ] Certificates, until the Certificate Principal Balance of the Class [___[ ] Certificates has been reduced to zero[ ], and then to the Class [___[ ] Certificates and Class [___[ ] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero[ ], and (2) with respect to Realized Losses related to the Group II Loans, concurrently to each Class of Group II Senior Certificates (other than the Class [___[ ] Certificates) until the Certificate Principal Balance of each such Class has been reduced to zero, provided, that any such Realized Loss allocable to the Class [___[ ] Certificates will be allocated first to the Class [___[ ] Certificates, until the Certificate Principal Balance of the Class [___[ ] Certificates has been reduced to zero[ ], and then to the Class [___[ ] Certificates, until the Certificate Principal Balance of the Class [___[ ] Certificates has been reduced to zero[ ]; providedPROVIDED, howeverHOWEVER, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group I Discount Loan, the Group I Discount Fraction of such loss will first be allocated to the Class [___[ ] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); providedPROVIDED, furtherFURTHER, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will first be allocated to the Class [___[ ] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); and (ii) for losses allocable to interest, (a) first, sequentially, to the Class [___[ ], Class [___[ ], Class [___[ ], Class [___[ ], Class [___[ ] and Class [___[ ] Certificates, in that order, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate on such Distribution Date has been reduced to zero[ ], and then in reduction of the Certificate Principal Balance of such Certificate until the Certificate Principal Balance thereof has been reduced to zero[ ], and (b) second, to the Senior Certificates relating to the Loan Group for which such Realized Losses were incurred, by Pro Rata Allocation, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate has been reduced to zero [ ] and then with respect to the Senior Certificates (other than the Class [___[ ], Class [___[ ], Class [___[ ], Class [___[ ] and Class [___[ ] Certificates), in reduction of the Certificate Principal Balance of each such Certificate until the aggregate of the Certificate Principal Balances thereof have been reduced to zero[ ]; provided, that (1) the Pro Rata Allocation of any such loss allocable to the Class [___[ ] Certificates and Class [___[ ] Certificates will be allocated first to the Class [___[ ] Certificates, up to a maximum amount of $[___[ ] with respect to the Class [___[ ] Certificates, and up to a maximum amount of $[___[ ] with respect to the Class [___[ ] Certificates, until the Certificate Principal Balance of the Class [___[ ] Certificates has been reduced to zero[ ], and then to the Class [___[ ] Certificates and Class [___[ ] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero[ ]; and (2) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. In the event that a Servicer receives any Subsequent Recoveries, such Subsequent Recoveries shall be distributed as part of the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, in accordance with the priorities in Section 4.1, and the Certificate Principal Balance of each Class of Subordinate Certificates that has been reduced by the allocation of a Realized Loss to such Certificate shall be increased, in order of seniority, by the amount of such Subsequent Recoveries. Holders of such Certificates are not entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. (c) Excess Losses with respect to the Loans will be allocated to the outstanding Class or Classes of Senior Certificates (other than the Class [___], Class [___] and Class [___] Certificates) of the related Loan Group and to the Subordinate Certificates by Pro Rata Allocation; provided, that (i) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. (d) On each Distribution Date, if the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___], Class [___] and Class [___] Certificates) and Subordinate Certificates exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the related Certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the Subordinate Certificates in reverse order of seniority until the Certificate Principal Balance of each such Class has been reduced to zero. If the Certificate Principal Balance of each Class of Subordinate Certificates has been reduced to zero and the aggregate Certificate Principal Balance of the Senior Certificates (other than the Class [___], Class [___] and Class [___] Certificates) exceeds the aggregate Principal Balance of the Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the Certificates on such Distribution Date), such excess will be deemed a principal loss and, (i) if attributable to the Group I Loans, will be allocated to the Group I Senior Certificates (other than the Class [___] Certificates and Class [___] Certificates) by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) if attributable to the Group II Loans, will be allocated to the Group II Senior Certificates (other than the Class [___] Certificates), by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. Realized Losses from the Loans shall be applied after all distributions have been made on each Distribution Date, to each REMIC I Regular Interest in the same manner and priority as Realized Losses are allocated to the Corresponding Certificates.

Allocation Realized Losses. (a) Prior to each Distribution Date, the Master Servicer, based solely on the information provided by the related Servicer, shall determine the amount of Realized Losses, if any, with respect to each Group I Loan and Group II Loan. (b) Realized Losses, other than Excess Losses, shall be allocated as follows: : (i) for losses allocable to principal, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___]B-1 and Class [___] M Certificates, in that order, until the Certificate Principal Balance of each such Class been reduced to zero zero, and (b) second, (1) with respect to Realized Losses related to the Group I Loans, concurrently to the Class I-A-1, Class I-A-3, Class I-A-5 and Class I-A-7 Certificates, on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of such Class of has been reduced to zero, and (b) with respect to Realized Losses related to the Group I Senior Certificates (other than II Loans, concurrently to the Class [___] Certificates II-A-1, Class II-A-3 and Class [___] R Certificates) , on a pro rata basis based on the Certificate Principal Balance of each such Class, in each case until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero, and (2) with respect to Realized Losses related to the Group II Loans, concurrently to each Class of Group II Senior Certificates (other than the Class [___] Certificates) until the Certificate Principal Balance of each such Class has been reduced to zero, provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero; provided, however, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group I Discount Loan, the Group I Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); provided, further, that following the Credit Support Depletion Date, if any loss is incurred with respect to a Group II Discount Loan, the Group II Discount Fraction of such loss will first be allocated to the Class [___] Certificates and the remainder of such loss will be allocated as described above in clause (i)(b)(2); and (ii) for losses allocable to interest, (a) first, sequentially, to the Class [___]B-5, Class [___]B-4, Class [___]B-3, Class [___]B-2, Class [___] B-1 and Class [___] M Certificates, in that order, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate on such Distribution Date has been reduced to zero, and then in reduction of the Certificate Principal Balance of such Certificate until the Certificate Principal Balance thereof has been reduced to zero, and (b) second, to the Senior Certificates relating to the Loan Group for which such Realized Losses were incurred, by Pro Rata Allocation, in reduction of accrued but unpaid interest thereon until the amount of interest accrued on such Certificate has been reduced to zero and then with respect to the Senior Certificates (other than the Class [___], Class [___], Class [___], Class [___] and Class [___] Certificates), in reduction of the Certificate Principal Balance of each such Certificate until the aggregate of the Certificate Principal Balances thereof have been reduced to zero; provided, that (1) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (2) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. In the event that a Servicer receives any Subsequent Recoveries, such Subsequent Recoveries shall be distributed as part of the Group I Available Distribution Amount or Group II Available Distribution Amount, as applicable, in accordance with the priorities in Section 4.1, and the Certificate Principal Balance of each Class of Subordinate Certificates that has been reduced by the allocation of a Realized Loss to such Certificate shall be increased, in order of seniority, by the amount of such Subsequent Recoveries. Holders of such Certificates are not entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. (c) Excess Losses with respect to the Group I Loans and Group II Loans will be allocated to the outstanding Class or Classes of Senior Certificates (other than the Class [___]I-A-2, Class [___] I-A-4, Class I-A-6 and Class [___] II-A-2 Certificates) of the related Loan Group and to the Subordinate Certificates by Pro Rata Allocation; provided, that (i) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) the Pro Rata Allocation of any such loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. (d) On each Distribution Date, if the aggregate Certificate Principal Balance of the Group I Senior Certificates (other than the Class [___]I-A-2, Class [___] I-A-4 and Class [___] I-A-6 Certificates), Group II Senior Certificates (other than the Class II-A-2 Certificates) and Subordinate Certificates exceeds the aggregate Principal Balance of the Group I Loans and Group II Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the related Certificates certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the Subordinate Certificates in reverse order of seniority until the Certificate Principal Balance of each such Class has been reduced to zero. If the Certificate Principal Balance of each Class of Subordinate Certificates Certificate has been reduced to zero and the aggregate Certificate Principal Balance of the Group I Senior Certificates (other than the Class [___]I-A-2, Class [___] I-A-4 and Class [___] I-A-6 Certificates) and Group II Senior Certificates (other than the Class II-A-2 Certificates) exceeds the aggregate Principal Balance of the Group I Loans and Group II Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on the Certificates on such Distribution Date), such excess will be deemed a principal loss and, (i) if attributable to the Group I Loans, will be allocated to the Group I Senior Certificates (other than the Class [___] Certificates I-A-2, Class I-A-4 and Class [___] I-A-6 Certificates) by Pro Rata Allocation, Allocation until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates and Class [___] Certificates will be allocated first to the Class [___] Certificates, up to a maximum amount of $[___] with respect to the Class [___] Certificates, and up to a maximum amount of $[___] with respect to the Class [___] Certificates, until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates and Class [___] Certificates, respectively, until the Certificate Principal Balance of each such Class has been reduced to zero; and (ii) if attributable to the Group II Loans, will be allocated to the Group II Senior Certificates (other than the Class [___] II-A-2 Certificates), ) by Pro Rata Allocation, until the Certificate Principal Balance of each such Class has been reduced to zero; provided, that any such Realized Loss allocable to the Class [___] Certificates will be allocated first to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero, and then to the Class [___] Certificates until the Certificate Principal Balance of the Class [___] Certificates has been reduced to zero. . (e) Realized Losses from the Group I Loans and Group II Loans shall be applied after all distributions have been made on each Distribution Date, first, to each REMIC I Regular Interest LT-1SUB and REMIC I Regular Interest LT-2SUB, as applicable, so that the Uncertificated Balance of each such REMIC I Regular Interest is equal to 0.1% of the excess of (x) the aggregate Scheduled Principal Balance of the Loans in the same manner related Loan Group over (y) the current Certificate Principal Balance of the Group I Senior Certificates (other than the Class I-A-2, Class I-A-4 and priority Class I-A-6 Certificates) or Group II Senior Certificates (other than the Class II-A-2 Certificates), as applicable (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses are shall be applied to such REMIC I Regular Interests such that the REMIC I Subordinated Balance Ratio is maintained); and second, to REMIC I Regular Interest LT-1GRP and REMIC I Regular Interest LT-2GRP, as applicable, so that the Undertificated Principal Balance of each such REMIC I Regular Interest remains equal to 0.1% of the aggregate Scheduled Principal Balance of the Group I Loans and Group II Loans, respectively, and third, any remaining Realized Losses from each Loan Group shall be allocated to REMIC I Regular Interest LT-ZZZ. Realized Losses from the Corresponding CertificatesGroup I Loans and the Group II Loans shall be applied after all distributions have been made on each Distribution Date, first, to REMIC II Regular Interest LT-ISUB and REMIC II Regular Interest LT-IISUB, respectively, and second, any remaining Realized Losses from each Loan Group shall be allocated to (i) REMIC II Regular Interest LT-IA1, REMIC II Regular Interest LT-IA3, REMIC II Regular Interest LT-IA5 and REMIC II Regular Interest LT-IA7, pro rata and (ii) REMIC II Regular Interest LT-IIA1 and REMIC II Regular Interest LT-IIA3, pro rata respectively.