Common use of Application of Subsequent Recoveries Clause in Contracts

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent Recoveries, if any, on Group I Mortgage Loans, to increase the Class Principal Balance of the Classes of Group I Certificates to which Applied Realized Loss Amounts have been allocated, sequentially, (I) first, concurrently, pro rata based on the Applied Realized Loss Amounts previously allocated to the Subgroup I-1 and Subgroup I-2 Certificates, (a) to the Class I-1A Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (b) sequentially, (i) first, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A1 and Class I 2A2 Certificates, and with respect to subclause (y) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A3 Certificates) (x) sequentially, to the Class I-2A1 and Class I-2A2 Certificates, in that order, in each case, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (y) to the Class I-2A3 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (ii) second, to the Class I-2A4 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (II) second, sequentially, to the Class I-M1, Class I-M2, Class I-M3, Class I-M4, Class I-M5, Class I-M6 and Class I-M7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of Group I Certificates 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 Accrual Period preceding the Distribution Date on which such increase occurs.

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent RecoveriesRecoveries with respect to Group 1 Loans, if any, on Group I Mortgage Loans, to increase the Class Principal Balance of the Classes of Group I 1 Certificates to which Group 1 Applied Realized Loss Amounts have been previously allocated, sequentially, (I) first, concurrently, pro rata based on the Group 1 Applied Realized Loss Amounts previously allocated to the Subgroup I-1 1-1 Certificates and Subgroup I-2 1-2 Certificates, : (a) sequentially, to the Class I-1A 1-1A1 and Class 1-1A2 Certificates (or, with respect to the Class 1-1A2 Certificates, to the extent that Group 1 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (b) sequentially, to the Class 1-2A1 and Class 1-2A2 Certificates (i) firstor, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A1 and Class I 1-2A2 Certificates, and with respect to subclause (y) below based on the aggregate Unpaid extent that Group 1 Applied Realized Loss Amounts with respect to have been covered by payments under the Class I 2A3 Certificates) (x) sequentiallyCertificate Insurance Policy, to the Class I-2A1 and Class I-2A2 CertificatesCertificate Insurer), in that order, in each case, case by not more than the amount of the Unpaid Realized Loss Amount for each such Class Class, and (y) to the Class I-2A3 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (ii) second, to the Class I-2A4 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (II) second, sequentially, to the Class I1-A3, Class 1-M1, Class I1-M2, Class I1-M3, Class I1-M4, Class I1-M5, Class I-M6 and Class I-M7 M5 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of Group I Certificates 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 Accrual Period preceding the Distribution Date on which such increase occurs.

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent Recoveries, if any, on Group I Mortgage Loans, to increase the Class Principal Certificate Balance of the Classes of Group I Certificates to which Applied Realized Loss Amounts have been previously allocated, sequentially, (I) first, concurrently, pro rata based on the aggregate of the Applied Realized Loss Amounts previously allocated to the Subgroup I-1 Group 1 Senior Certificates and Subgroup I-2 Group 2 Senior Certificates, (a) sequentially, to the Class I-1A 1-A-1 and Class 1-A-2 Certificates, in that order, by not more than the amount of the Unpaid Realized Loss Amount for each such Class Class, and (b) sequentially, (i) first, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A1 2-A-1, Class 2-A-2 and Class I 2A2 Certificates, and with respect to subclause (y) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A3 Certificates) (x) sequentially, to the Class I-2A1 and Class I-2A2 2-A-3 Certificates, in that order, not by more than the amount of the Unpaid Realized Loss Amount for each such Class, and second, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8, Class M-9 and Class M-10 Certificates, in each casethat order, by not more than the amount of the Unpaid Realized Loss Amount for of each such Class and (y) Class; provided, however, that to the Class I-2A3 Certificates, by extent any Realized Losses on the Insured Certificates are covered under the Policy (and have not more than the amount of the Unpaid Realized Loss Amount for such Class and (ii) second, been reimbursed to the Class I-2A4 CertificatesCertificate Insurer previously), by not more than any Subsequent Recoveries otherwise payable on the amount of the Unpaid Realized Loss Amount for such Class and (II) second, sequentially, Insured Certificates shall instead be paid to the Class I-M1, Class I-M2, Class I-M3, Class I-M4, Class I-M5, Class I-M6 and Class I-M7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such ClassCertificate Insurer. Holders of Group I Certificates 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.

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent RecoveriesRecoveries with respect to Group 2 Loans, if any, on Group I Mortgage Loans, to increase the Class Principal Balance of the Classes of Group I 2 Certificates to which Group 2 Applied Realized Loss Amounts have been previously allocated, (A) first, pro rata based on the Group 2 Applied Realized Loss Amounts previously allocated the Subgroup 2-1 Certificates and Subgroup 2-2 Certificates: (a) sequentially, to the Class 2-1A1 and Class 2-1A2 Certificates (Ior, with respect to the Class 2-1A2 Certificates, to the extent that Group 2 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (b) (x) first, concurrently, pro rata based on the Group 2 Applied Realized Loss Amounts that have been previously allocated to the Subgroup I-1 and Subgroup I-2 each such Class of Certificates, (a) to the Class I-1A 2-2A1, Class 2-2A2, Class 2-2A3, Class 2-2A4 and Class 2-2A5 Certificates (or, with respect to the Class 2-2A3 Certificates, to the extent that Group 2 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class of Certificates and (y) second, to the Class 2-2A6 Certificates (or, to the extent that Group 2 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), by not more than the amount of the Unpaid Realized Loss Amount for such Class and (b) sequentially, (i) first, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A1 and Class I 2A2 of Certificates, and with respect to subclause (y) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A3 Certificates) (x) sequentially, to the Class I-2A1 and Class I-2A2 Certificates, in that order, in each case, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (y) to the Class I-2A3 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (ii) second, to the Class I-2A4 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (IIB) second, sequentially, to the Class I2-M1, Class I2-M2, Class I2-M3, Class I2-M4, Class I2-M5M5 and Class 2-M6, Class I2-M6 M7 and Class I2-M7 M8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of Group I Certificates 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 Accrual Period preceding the Distribution Date on which such increase occurs.

Application of Subsequent Recoveries. On each Distribution DateIf Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the Trust Administrator shall allocate the amount of such Subsequent Recoveries will be applied to increase the Subsequent Recoveriesapplicable Class Certificate Balances (or in the case of a Swap Principal Amount, to increase that Swap Principal Amount) in the following order of priority: (1) concurrently, to the Class A-1-A and Class A-1-B Certificates and the Class A-1-A Swap Principal Amount, if any, on Group I Mortgage Loans, to increase and the Class A-1-B Swap Principal Balance of the Classes of Group I Certificates to which Applied Realized Loss Amounts have been allocatedAmount, sequentially, (I) first, concurrentlyif any, pro rata based on the Applied their respective Unpaid Realized Loss Amounts previously allocated Amounts, in an amount up to the Subgroup I-1 and Subgroup I-2 Certificates, their respective Unpaid Realized Loss Amounts; (a2) to the Class I-1A CertificatesA-2-A and Class A-2-B Certificates and the Class A-2-A Swap Principal Amount, by not more than the amount of the if any, pro rata based on their respective Unpaid Realized Loss Amount for such Amounts, in an amount up to their respective Unpaid Realized Loss Amounts; (3) to the Class A-3 Certificates and (b) sequentiallythe Class A-3 Swap Principal Amount, (i) firstif any, concurrently (pro rata, with respect to subclause (x) below based on the aggregate their respective Unpaid Realized Loss Amounts with respect Amounts, in an amount up to the Class I 2A1 and Class I 2A2 Certificates, and with respect to subclause (y) below based on the aggregate their respective Unpaid Realized Loss Amounts with respect to the Class I 2A3 Certificates) Amounts; and (x4) sequentially, to the Class I-2A1 Certificate Balances of the Class M-1, Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7, Class M-8 and Class I-2A2 M-9 Certificates, in that order, in each case, by not more than the an amount of the up to their respective Unpaid Realized Loss Amount for such Class and (y) to the Class I-2A3 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (ii) second, to the Class I-2A4 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (II) second, sequentially, to the Class I-M1, Class I-M2, Class I-M3, Class I-M4, Class I-M5, Class I-M6 and Class I-M7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such ClassAmounts. Holders of Group I such Certificates to which any Subsequent Recoveries have been allocated shall 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. The Swap Counterparty will not be entitled to any payment in respect of interest on the related Swap Principal Amount at the related Swap Rate on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs.

Application of Subsequent Recoveries. On each Distribution DateFirst, the Trust Administrator shall allocate if Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan, the amount of such Subsequent Recoveries will be applied pro rata based on the Subsequent Recoveries, if any, on Group I Mortgage LoansUnpaid Realized Loss Amounts for each Class, to increase the Class Principal Certificate Balance of the Classes of Group I Senior Certificates to which Applied Realized Loss Amounts have been allocated, sequentially, (I) first, concurrently, pro rata based on the Applied Realized Loss Amounts previously allocated in an amount up to the Subgroup I-1 and Subgroup I-2 amount of Unpaid Realized Losses on each such Class of Certificates; provided, however that (ai) any amounts allocable to the Class I-1A Certificates1-A-1 and Class 1-A-2 Certificates will be allocated first, by not more than to the Class 1-A-1 Certificates in an amount of up to the Unpaid Realized Loss Amount for such Class that Class, and (b) sequentially, (i) first, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect then to the Class I 2A1 1-A-2 Certificates and Class I 2A2 Certificates, and with respect to subclause (yii) below based on the aggregate Unpaid Realized Loss Amounts with respect any amounts allocable to the Class I 2A3 Certificates) (x) sequentially2-A-3A and Class 2-A-3B Certificates will be allocated first, to the Class I-2A1 and Class I-2A2 Certificates, 2-A-3A Certificates in that order, in each case, by not more than the an amount of up to the Unpaid Realized Loss Amount for such Class that Class, and (y) then to the Class I-2A3 2-A-3B Certificates. Second, by not more than if Subsequent Recoveries have been received with respect to a Liquidated Mortgage Loan the amount of such Subsequent Recoveries will be applied sequentially, in the Unpaid Realized Loss Amount for such Class and (ii) secondorder of payment priority, to increase the Class I-2A4 CertificatesCertificate Balance of each Class of Subordinated Certificates to which Realized Losses have been allocated, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (II) second, sequentially, to the Class I-M1, Class I-M2, Class I-M3, Class I-M4, Class I-M5, Class I-M6 and Class I-M7 Certificates, in that order, but in each case by not more than the amount of the Unpaid Realized Loss Amount Losses on that Class of such ClassCertificates. Holders of Group I such Certificates to which any Subsequent Recoveries have been allocated shall 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. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent RecoveriesRecoveries with respect to Group 2 Loans, if any, on Group I Mortgage Loans, to increase the Class Principal Balance of the Classes of Group I 2 Certificates to which Group 2 Applied Realized Loss Amounts have been previously allocated, (A) first, pro rata based on the Group 2 Applied Realized Loss Amounts previously allocated the Subgroup 2-1 Certificates and Subgroup 2-2 Certificates: (a) sequentially, to the Class 2-1A1 and Class 2-1A2 Certificates (Ior, with respect to the Class 2-1A2 Certificates, to the extent that Group 2 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (b) (x) first, concurrently, pro rata based on the Group 2 Applied Realized Loss Amounts that have been previously allocated to the Subgroup I-1 and Subgroup I-2 each such Class of Certificates, (a) to the Class I-1A 2-2A1, Class 2-2A2, Class 2-2A3, Class 2-2A4 and Class 2-2A5 Certificates (or, with respect to the Class 2-2A3 Certificates, to the extent that Group 2 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class of Certificates and (y) second, to the Class 2-2A6 Certificates (or, with respect to the Class 2-2A6 Certificates, to the extent that Group 2 Applied Realized Loss Amounts have been covered by payments under the Certificate Insurance Policy, to the Certificate Insurer), by not more than the amount of the Unpaid Realized Loss Amount for such Class and (b) sequentially, (i) first, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A1 and Class I 2A2 of Certificates, and with respect to subclause (y) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A3 Certificates) (x) sequentially, to the Class I-2A1 and Class I-2A2 Certificates, in that order, in each case, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (y) to the Class I-2A3 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (ii) second, to the Class I-2A4 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class and (IIB) second, sequentially, to the Class I2-M1, Class I2-M2, Class I2-M3, Class I2-M4, Class I2-M5, Class I2-M6 M6, Class 2-M7 and Class I2-M7 M8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of Group I Certificates 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 Accrual Period preceding the Distribution Date on which such increase occurs.

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent RecoveriesRecoveries for Aggregate Loan Group I, if any, on Group I Mortgage Loans, to increase the Class Principal Certificate Balance of the Classes of Group I Certificates to which Applied Realized Loss Amounts have been previously allocated, sequentially, (I) first, concurrently, pro rata based on the Applied Realized Loss Amounts previously allocated to the Subgroup I-1 Senior Certificates related to Loan Group 1 and Subgroup I-2 Certificatesthe Senior Certificates related to Loan Group 2, (a) sequentially, to the Class I-1A 1-A-1, Class 1-A-2 and Class 1-A-3 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for such Class and (b) sequentially, (i) first, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A1 2-A-1, Class 2-A-2 and Class I 2A2 Certificates, and with respect to subclause (y) below based on the aggregate Unpaid Realized Loss Amounts with respect to the Class I 2A3 Certificates) (x) sequentially, to the Class I-2A1 and Class I-2A2 2-A-3 Certificates, in that order, in each case, case by not more than the amount of the Unpaid Realized Loss Amount for such Class Class, and (y) second, sequentially, to the Class I-2A3 I-M-1, Class I-M-2, Class I-M-3, Class I-M-4, Class I-M-5, Class I-M-6 and Class I-M-7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for of such Class and (ii) secondClass. On each Distribution Date, to the Class I-2A4 Certificates, by not more than Trustee shall allocate the amount of the Unpaid Subsequent Recoveries for Aggregate Loan Group II, if any, to increase the Class Certificate Balance of the Classes of Group II Certificates to which Applied Realized Loss Amount for such Class and (II) secondAmounts have been previously allocated, sequentially, to the Class I3-M1A-1, Class I3-M2A-2, Class I3-M3A-3, Class III-M4M-1, Class III-M5M-2, Class III-M6 M-3, Class II-M-4, Class II-M-5, Class II-M-6 and Class III-M7 M-7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of Group I Certificates 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 Accrual Period preceding the Distribution Date on which such increase occurs.