Common use of Allocations of Realized Losses and Collateral Value Adjustments Clause in Contracts

Allocations of Realized Losses and Collateral Value Adjustments. At least four Business Days prior to each Distribution Date, the Master Servicer shall determine and communicate to the Trustee the total amount of Realized Losses and Collateral Value Adjustment, if any, that resulted during the related Collection Period. As soon as practicable following the occurrence of a Collateral Value Adjustment Event with respect to any Mortgage Loan, the Master Servicer shall make a Collateral Value Adjustment determination with respect to such Mortgage Loan. The amount of each Realized Loss or Collateral Value Adjustment shall be evidenced by an Officers' Certificate. All Realized Losses shall be allocated by the Trustee as follows in reduction of the related Class Balance: first, to the Class NR Certificates until the Class Balance thereof has been reduced to zero; second, to the Class H Certificates until the Class Balance thereof has been reduced to zero; third, to the Class G Certificates until the Class Balance thereof has been reduced to zero; fourth, to the Class F Certificates until the Class Balance thereof has been reduced to zero; fifth, to the Class E Certificates until the Class Balance thereof has been reduced to zero; sixth, to the Class D Certificates until the Class Balance thereof has been reduced to zero; seventh, to the Class C Certificates until the Class Balance thereof has been reduced to zero; eighth, to the Class B Certificates until the Class Balance thereof has been reduced to zero, and the remainder of such Realized Losses to the Class A1, Class A2 and Class A3 Certificates, pro rata, until their respective Class Balances have been reduced to zero. All Collateral Value Adjustments shall be allocated by the Trustee in the same order set forth above with respect to the allocation of Realized Losses up to the excess of the related Class Balance, after giving effect to all reductions thereof on or prior to the related Distribution Date, over the aggregate of all Collateral Value Adjustments previously allocated to the related Class or Certificates. To the extent a Collateral Value Adjustment is reversed, such reversed amount shall be allocated by the Trustee to the Classes the Interest Distribution Amount of which at the time of such allocation is calculated by reference to a Class Balance adjusted by a Collateral Value Adjustment in alphabetic order. The allocation of a Collateral Value Adjustment to a Class of Certificates shall reduce such Class' Class Balance for purposes of determining Voting Rights.

Allocations of Realized Losses and Collateral Value Adjustments. At least four Business Days prior to each Distribution Date, the Master Servicer shall determine and communicate to the Trustee the total amount of Realized Losses and Collateral Value Adjustment, if any, that resulted during the related Collection Period. As soon as practicable following the occurrence of a Collateral Value Adjustment Event with respect to any Mortgage Loan, the Master Servicer shall make a Collateral Value Adjustment determination with respect to such Mortgage Loan. The amount of each Realized Loss or Collateral Value Adjustment shall be evidenced by an Officers' Certificate. All Realized Losses shall be allocated by the Trustee as follows in reduction of the related Class Balance: first, to the Class NR NR-P Certificates until the Class Balance thereof has been reduced to zero; second, to the Class H Certificates until the Class Balance thereof has been reduced to zero; third, to the Class G Certificates until the Class Balance thereof has been reduced to zero; fourth, to the Class F Certificates until the Class Balance thereof has been reduced to zero; fifth, to the Class E Certificates until the Class Balance thereof has been reduced to zero; sixth, to the Class D Certificates until the Class Balance thereof has been reduced to zero; seventh, to the Class C Certificates until the Class Balance thereof has been reduced to zero; eighth, to the Class B Certificates until the Class Balance thereof has been reduced to zero, and the remainder of such Realized Losses to the Class A1, Class A2 and Class A3 Certificates, pro rata, until their respective Class Balances have been reduced to zero. All Collateral Value Adjustments shall be allocated by the Trustee in the same order set forth above with respect to the allocation of Realized Losses up to the excess of the related Class Balance, after giving effect to all reductions thereof on or prior to the related Distribution Date, over the aggregate of all Collateral Value Adjustments previously allocated to the related Class or Certificates. To the extent a Collateral Value Adjustment is reversed, such reversed amount shall be allocated by the Trustee to the Classes the Interest Distribution Amount of which at the time of such allocation is calculated by reference to a Class Balance adjusted by a Collateral Value Adjustment in alphabetic order. The allocation of a Collateral Value Adjustment to a Class of Certificates shall reduce such Class' Class Balance for purposes of determining Voting Rights.

Allocations of Realized Losses and Collateral Value Adjustments. At least four Business Days On or prior to each Distribution the fourth Business Day immediately preceding the applicable Payment Date, the Master Servicer shall determine and communicate to the Trustee the total amount of Realized Losses and Collateral Value Adjustment, if any, that resulted during the related Collection Remittance Period. As soon as practicable following the occurrence of a Collateral Value Adjustment Event with respect to any Mortgage LoanLoan (taking into account the time period necessary for the Master Servicer to obtain the Independent MAI appraisal for such purpose), the Master Servicer shall make a Collateral Value Adjustment determination with respect to such Mortgage Loan. The amount of each Realized Loss or Collateral Value Adjustment shall be evidenced by an Officers' CertificateBond. All Realized Losses and Collateral Value Adjustments shall be allocated by the Trustee as follows in reduction of the related Class Balance: first, to the Class NR Certificates F Bonds until the Class Balance thereof has been reduced to zero; second, to the Class H Certificates E Bonds until the Class Balance thereof has been reduced to zero; third, to the Class G Certificates D Bonds until the Class Balance thereof has been reduced to zero; fourth, to the Class F Certificates C Bonds until the Class Balance thereof has been reduced to zero; fifth, to the Class E Certificates until the Class Balance thereof has been reduced to zero; sixth, to the Class D Certificates until the Class Balance thereof has been reduced to zero; seventh, to the Class C Certificates until the Class Balance thereof has been reduced to zero; eighth, to the Class B Certificates Bonds until the Class Balance thereof has been reduced to zero, and the remainder of such Realized Losses and Collateral Value Adjustments to the Class A1, Class A2 A-1 and Class A3 CertificatesA-2 Bonds, pro rata, until their respective Class Balances have been reduced to zero. All Collateral Value Adjustments shall be Amounts allocated by the Trustee in the same order set forth above with respect to the allocation of Realized Losses up to the excess of reduce the related Class Balance, after giving effect to all reductions thereof on or prior to the related Distribution Date, over the aggregate of all Collateral Value Adjustments previously allocated to the related Class or Certificates. To the extent a Collateral Value Adjustment is reversed, such reversed amount Balance shall be allocated by the Trustee to the Classes the Interest Distribution Amount of which at the time of such allocation is calculated by reference to a Class Balance adjusted by a Collateral Value Adjustment in alphabetic order. The allocation of a Collateral Value Adjustment to a Class of Certificates shall also reduce such Class' Class Balance for purposes Voting Rights in proportion to the other Classes of determining Voting RightsBonds.

Allocations of Realized Losses and Collateral Value Adjustments. At least four Business Days prior to each Distribution Date, the Master Servicer shall determine and communicate to the Trustee the total amount of Realized Losses and Collateral Value Adjustment, if any, that resulted during the related Collection Period. As soon as practicable following the occurrence of a Collateral Value Adjustment Event with respect to any Mortgage Loan, the Master Servicer shall make a Collateral Value Adjustment determination with respect to such Mortgage Loan. The amount of each Realized Loss or Collateral Value Adjustment shall be evidenced by an Officers' Certificate. All Realized Losses and Collateral Value Adjustments shall be allocated by the Trustee as follows in reduction (or to increase, in the case of Collateral Value Adjustments) of the related Class Balance: first, to the Class NR Certificates until the Class Balance thereof has been reduced to zero; second, to the Class H G Certificates until the Class Balance thereof has been reduced to zero; third, to the Class G F Certificates until the Class Balance thereof has been reduced to zero; fourth, to the Class F E Certificates until the Class Balance thereof has been reduced to zero; fifth, to the Class E D Certificates until the Class Balance thereof has been reduced to zero; sixth, to the Class D Certificates until the Class Balance thereof has been reduced to zero; seventh, to the Class C Certificates until the Class Balance thereof has been reduced to zero; eighth, seventh, to the Class B Certificates until the Class Balance thereof has been reduced to zero, and the remainder of such Realized Losses and Collateral Value Adjustments to the Class A1, Class A2 and Class A3 Certificates, pro rata, until their respective Class Balances have been reduced to zero. All Collateral Value Adjustments shall be Amounts allocated by the Trustee in the same order set forth above with respect to the allocation of Realized Losses up to the excess of reduce the related Class Balance, after giving effect to all reductions thereof on or prior to the related Distribution Date, over the aggregate of all Collateral Value Adjustments previously allocated to the related Class or Certificates. To the extent a Collateral Value Adjustment is reversed, such reversed amount shall be allocated by the Trustee to the Classes the Interest Distribution Amount of which at the time of such allocation is calculated by reference to a Class Balance adjusted by a Collateral Value Adjustment in alphabetic order. The allocation of a Collateral Value Adjustment to a Class of Certificates shall should also reduce such Class' Class Balance for purposes Voting Rights in proportion to the other Classes of determining Voting RightsCertificates.