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, to increase the Class Principal Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, (a) sequentially, to the Class 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 each such Class, (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for 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 and Class M-8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2), Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa2)

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Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Certificate Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the aggregate of the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Senior Certificates and Group 4 2 Senior Certificates, (a) sequentially, to the Class 1-A-1, A-1 and 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 each such Class, and (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case not by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for 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 M-7, Class M-8, Class M-9 and Class M-8 M-10 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of each such Class; provided, however, that to the extent any Realized Losses on the Insured Certificates are covered under the Policy (and have not been reimbursed to the Certificate Insurer previously), any Subsequent Recoveries otherwise payable on the Insured Certificates shall instead be paid to the Certificate Insurer. Holders of 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. Section 4.03. [Reserved].

Appears in 2 contracts

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa10), Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa10)

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Certificate Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Senior Certificates and Group 4 2 Senior Certificates, (a) sequentially, to the Class 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 each such Class, Class and (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for such Class, and second, sequentially, to the Class M-1, Class M-2, Class M-3, Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, M-6 and Class M-7 and Class M-8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa3)

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, to increase the Class Principal Balance of the Classes of Group 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 Group Subgroup 2-1 Certificates, Group Certificates and Subgroup 2-2 Certificates, Group 3 Certificates and Group 4 Certificates, : (a) sequentially, to the Class 12-A-1, Class 1-A-2 1A1 and Class 12-A-3 Certificates1A2 Certificates (or, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (b) sequentially, with respect to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 1A2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificatesextent 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 (db) sequentially, (x) first, to the Class 4-A-1A and Class 4-A-1B Certificatesconcurrently, pro rata based on the Group 2 Applied Realized Loss Amounts that have been previously allocated to each such Class Principal Balance and secondof Certificates, to the Class 42-A-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 ClassClass 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 of Certificates, and (B) second, sequentially, to the Class X-0, Xxxxx X-02-M1, Class M-32-M2, Class M-42-M3, Class M-52-M4, Class M-62-M5 and Class 2-M6, Class M-7 2-M7 and Class M-8 2-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 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3)

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 the such Subsequent Recoveries, if any, Recoveries will be applied to increase the applicable Class Principal Balance Certificate Balances in the following order of priority: (1) concurrently, to the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocatedClass A-1A, firstClass A-1B, Class A-1C, Class A-1D and Class A-2 Certificates, pro rata based on the Applied their respective Unpaid Realized Loss Amounts previously allocated Amounts, in an amount up to their respective Unpaid Realized Loss Amounts; (2) concurrently, to the Group 1 CertificatesClass A-3, Group 2 CertificatesClass A-4A, Group 3 Class A-4B and Clxxx X-0X Xxxxxxxxxxxx, xxx rata based on their respective Unpaid Realized Loss Amounts, in an amount up to their respective Unpaid Realized Loss Amounts; (3) to the Class A-5 Certificates in an amount up to its Unpaid Realized Loss Amount; and Group 4 Certificates, (a4) sequentially, to the Class 1-A-1Certificate Balances of the Class M-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 each such Class, (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for such Class, and second, sequentially, to the Class X-0, Xxxxx X-0M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 M-7, Class M-8 and Class M-8 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 of such ClassAmounts. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2006-Oa16)

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Certificate Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the aggregate of the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Senior Certificates and Group 4 2 Senior Certificates, (a) sequentially, to the Class 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 each such Class, and (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case not by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for 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 M-7, Class M-8, Class M-9 and Class M-8 M-10 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of each such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa3)

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, (a) sequentially, to the Class 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 each such Class, (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 A-1 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 A-1, Class 3-A-2 and Class 3-A-2 A-3 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A A-1, Class 4-A-2 and Class 4-A-1B A-3 Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificatesin that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for 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, M-6 and Class M-7 and Class M-8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2006-Oa1)

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, to increase the Class Principal Balance of the Classes of Group 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 Group Subgroup 2-1 Certificates, Group Certificates and Subgroup 2-2 Certificates, Group 3 Certificates and Group 4 Certificates, : (a) sequentially, to the Class 12-A-1, Class 1-A-2 1A1 and Class 12-A-3 Certificates1A2 Certificates (or, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (b) sequentially, with respect to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 1A2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificatesextent 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 (db) sequentially, (x) first, to the Class 4-A-1A and Class 4-A-1B Certificatesconcurrently, pro rata based on the Group 2 Applied Realized Loss Amounts that have been previously allocated to each such Class Principal Balance and secondof Certificates, to the Class 42-A-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 ClassClass 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 of Certificates, and (B) second, sequentially, to the Class X-0, Xxxxx X-02-M1, Class M-32-M2, Class M-42-M3, Class M-52-M4, Class M-62-M5, Class M-7 2-M6, Class 2-M7 and Class M-8 2-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 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-3)

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Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, concurrently, to the Class A-1, Class A-2 and Class A-3 Certificates, pro rata based on the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, (a) sequentially, to the Class 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 each such Class, (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for such Class, second, to the Class A-4 Certificates, by not more than the amount of the Unpaid Realized Loss Amount for such Class, and secondthird, sequentially, to the Class X-0, Xxxxx X-0, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 and Class M-8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (MASTR Adjustable Rate Mortgages Trust 2007-2)

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Certificate Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the Applied Realized Loss Amounts previously allocated the Group 1 Senior Certificates, Group 2 Certificates, Group 3 Senior Certificates and Group 4 3 Senior Certificates, (a) sequentially, to the Class 1-A-1, A-1 and 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 each such Class, (b) sequentially, to the Class 2-A-1, A-1 and Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case not by not more than the amount of the Unpaid Realized Loss Amount for each such Class, Class and (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for 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 M-7, Class M-8, Class M-9, Class M-10 and Class M-8 M-11 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of each such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Hy3)

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Certificate Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the aggregate of the Applied Realized Loss Amounts previously allocated to the Group 1 Certificates, Group 2 Certificates, Group 3 Senior Certificates and Group 4 2 Senior Certificates, (a) sequentially, to the Class 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 each such Class, and (b) sequentially, to the Class 2-A-1, Class 2-A-2 and Class 2-A-3 Certificates, in that order, in each case not by not more than the amount of the Unpaid Realized Loss Amount for each such Class, (c) sequentially, to the Class 3-A-1 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for such Class, and second, sequentially, to the Class X-0M-1, Xxxxx X-0Class M-2, Class M-3, Class M-4, Class M-5, Class M-6, Class M-7 M-6 and Class M-8 CertificatesClasx X-0 Xxxxxxxxates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of each such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (Alternative Loan Trust 2007-Oa2)

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator Trustee shall allocate the amount of the Subsequent RecoveriesRecoveries for Loan Group 1, if any, to increase the Class Principal Certificate Balance of the Classes of Group 1 Certificates to which Applied Realized Loss Amounts have been previously allocated, first, pro rata based on the Applied Realized Loss Amounts previously allocated the Group 1 Certificates, Group 2 Certificates, Group 3 Certificates and Group 4 Certificates, (a) sequentially, to the Class 1-A-1, Class 1-A-2 A-2, Class 1-A-3, Class 1-M-1, Class 1-M-2, Class 1-M-3, Class 1-M-4, Class 1-M-5, Class 1-M-6 and Class 1-A-3 M-7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each of such Class. On each Distribution Date, (b) the Trustee shall allocate the amount of the Subsequent Recoveries for Loan Group 2, if any, to increase the Class Certificate Balance of the Group 2 Certificates to which Applied Realized Loss Amounts have been previously allocated, sequentially, to the Class 2-A-1, Class 2-A-2 A-2, Class 2-A-3, Class 2-M-1, Class 2-M-2, Class 2-M-3, Class 2-M-4, Class 2-M-5, Class 2-M-6 and Class 2-A-3 M-7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each of such Class. On each Distribution Date, (c) the Trustee shall allocate the amount of the Subsequent Recoveries for Loan Group 3, if any, to increase the Class Certificate Balance of the Group 3 Certificates to which Applied Realized Loss Amounts have been previously allocated, sequentially, to the Class 3-A-1 A-1, Class 3-A-2, Class 3-A-3, Class 3-M-1, Class 3-M-2, Class 3-M-3, Class 3-M-4, Class 3-M-5 and Class 3-A-2 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount for each such Class and (d) sequentially, first, to the Class 4-A-1A and Class 4-A-1B Certificates, pro rata based on Class Principal Balance and second, to the Class 4-A-2 Certificates, in each case by not more than the amount of the Unpaid Realized Loss Amount for 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 and Class M-8 M-6 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of such Class. Holders of 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. Section 4.03. [Reserved].

Appears in 1 contract

Samples: Pooling and Servicing Agreement (CHL Mortgage Pass-Through Trust 2006-3)

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