Common use of Application of Subsequent Recoveries Clause in Contracts

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied, first, concurrently, to the Classes of Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts for each Class, to increase the Class Certificate Balance of the Senior Certificates in an amount up to the amount of Unpaid Realized Losses on each such Class of Certificates; provided, however that any amounts allocable to the Class 2-A-2B Certificates will be allocated to the Class 2-A-2A Certificates in an amount up to the Unpaid Realized Loss Amount for that Class and, second, to the Classes of Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage LoanLoan in a Loan Group, the amount of such Subsequent Recoveries will be appliedapplied to the related Classes of Certificates as follows: (a) in the case of Group 1 Certificates, first, concurrentlysequentially, to the Classes of Senior Class 1-A-1 and Class 1-A-2 Certificates, pro rata based on in that order, and (b) in the Unpaid Realized Loss Amounts for case of Group 2 Certificates, sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each Class, case to increase the Class Certificate Balance of the Senior Certificates each such Class in an amount up to the amount of Unpaid Realized Losses Loss Amounts on each such Class Class. Following application of Certificates; provided, however that any amounts allocable Subsequent Recoveries to the Class 2-A-2B related Senior Certificates any remaining amounts from both Loan Groups will be allocated to the Class 2-A-2A Certificates in an amount up to the Unpaid Realized Loss Amount for that Class anddistributed sequentially, second, to the Classes of Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses Loss Amounts on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied, first, applied (i) concurrently, to the Classes of Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts for each Class, to increase the Class Certificate Balance of the Senior Certificates in an amount up to the amount of Unpaid Realized Losses on Loss Amount for each such Class of Certificates; provided, however except that any amounts otherwise allocable to the Class 2-A-2B A-2 and Class A-3 Certificates will first be allocated allocated, pro rata, based on the Unpaid Realized Loss Amount for each such Class, to the Class 2-A-2A Certificates A-1 Certificates, in an amount up to the Unpaid Realized Loss Amount for that such Class and, second, and (ii) to the Classes of Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the an amount of up to Unpaid Realized Losses on Loss Amount for that Class of Certificates. Holders of such Certificates will to which any Subsequent Recoveries have been allocated shall not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied, first, concurrently, to the Classes of Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts for each Class, to increase the Class Certificate Balance of the Senior Certificates in an amount up to the amount of Unpaid Realized Losses on each such Class of Certificates; provided, however that any amounts allocable to the Class 21-A-2B A-1 and Class 1-A-2 Certificates will be allocated first, to the Class 21-A-2A A-1 Certificates in an amount up to the Unpaid Realized Loss Amount for that Class, and then to the Class 1-A-2 Certificates, and, second, to the Classes of Subordinated Certificates sequentially, in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied, first, concurrently, to the Classes of Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts for each Class, to increase the Class Certificate Balance of the Senior Certificates in an amount up to the amount of Unpaid Realized Losses on each such Class of Certificates; provided, however that any amounts allocable to the Class 2-A-2B Certificates will be allocated to the Class 2-A-2A Certificates in an amount up to the Unpaid Realized Loss Amount for that Class and, second, to the Classes of Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied, first, concurrently, to the Classes of Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts for each Class, to increase the Class Certificate Balance of the Senior Certificates in an amount up to the amount of Unpaid Realized Losses on each such Class of Certificates; provided, however that any amounts allocable to the Class 2-A-2B Certificates will be allocated first to the Class 2-A-2A Certificates in an amount up to the Unpaid Realized Loss Amount for that Class and, second, to the Classes of Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage LoanLoan in Aggregate Loan Group II, the amount of such Subsequent Recoveries will be applied, first, concurrently, to the Classes of Group II Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts for each Class, to increase the Class Certificate Balance of the Group II Senior Certificates in an amount up to the amount of Unpaid Realized Losses on each such Class of Certificates; provided, however that any amounts otherwise allocable to the Class 23-A-2B A-5 Certificates will be allocated to the Class 23-A-2A A-4 Certificates in an amount up to the Unpaid Realized Loss Amount for that Class and, second, to the Classes of Group II Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Group II Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses on that Class of Certificates. Provided, further that to the extent any Applied Realized Loss Amount was covered under the Class 3-A-2 Policy, the Class 3-A-2 Insurer shall be paid the portion of any Subsequent Recoveries otherwise allocable to the Class 3-A-2 Certificates (determined without regard to the payment under the Class 3-A-2 Policy). Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage LoanLoan in a Loan Group, the amount of such Subsequent Recoveries will be appliedapplied to the related Classes of Certificates as follows: (a) in the case of Group 1 Certificates, first, concurrentlysequentially, to the Classes of Senior Class 1-A-1 and Class 1-A-2 Certificates, pro rata based on rata, and (b) in the Unpaid Realized Loss Amounts for case of Group 2 Certificates, sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each Class, case to increase the Class Certificate Balance of the Senior Certificates each such Class in an amount up to the amount of Unpaid Realized Losses Loss Amounts on each such Class Class. Following application of Certificates; provided, however that any amounts allocable Subsequent Recoveries to the Class 2-A-2B related Senior Certificates any remaining amounts from both Loan Groups will be allocated to the Class 2-A-2A Certificates in an amount up to the Unpaid Realized Loss Amount for that Class anddistributed sequentially, second, to the Classes of Subordinated Certificates in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses Loss Amounts on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.

Application of Subsequent Recoveries. If Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied, first, concurrentlyconcurrently to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, pro rata, based on their respective Unpaid Realized Loss Amounts, to the Classes extent of Senior Certificates, pro rata based on the Unpaid Realized Loss Amounts Amount for each such Class, second to the Class A-5 Certificates to increase the Class Certificate Balance of the Senior Certificates this Class in an amount up to the amount of Unpaid Realized Losses Loss Amounts on each such Class of Certificates; providedClass, however that any amounts allocable to the Class 2-A-2B Certificates will be allocated to the Class 2-A-2A Certificates in an amount up to the Unpaid Realized Loss Amount for that Class and, secondthird, to the Classes of Subordinated Certificates sequentially, in the order of payment priority, to increase the Class Certificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, but in each case by not more than the amount of Unpaid Realized Losses Loss Amounts on that Class of Certificates. Holders of such Certificates will not be 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. Any such increases shall be applied pro rata to the Certificate Balance of each Certificate of such Class.