Coordination and Duplication of Insurance Benefits. 1. If any portion of a Loan is uninsured, all payments made by the Borrower on the Loan shall be allocated to the insured portion of the Loan in the same ratio as the insured principal amount bears to the total principal amount of the Loan. The Insurance Benefit hereunder shall likewise be calculated on the same pro rata basis.
Appears in 4 contracts
Samples: edgar.secdatabase.com, Pooling and Servicing Agreement (Ownit Mortgage Loan Trust, Series 2005-5), Pooling and Servicing Agreement (Merrill Lynch Mortgage Investors Trust Series 2005-He3)