LOSS ATTRIBUTABLE TO NOTE DEFAULTS Clause Samples

LOSS ATTRIBUTABLE TO NOTE DEFAULTS. To the extent of any positive balance in such Owner's Capital Account, and, with respect to a Funding Owner, to the extent of the sum of any positive balance in such Owner's Capital Account plus any uncontributed Funding Amount, each Owner shall be specially allocated all Default Losses for such Fiscal Year resulting from defaults on such Owner's Related Owner Notes transferred to the Trust. If the allocation of such Default Losses would be in excess of the positive balance in such Owner's Capital Account, or, in the case of a Funding Owner, the sum of the positive balance in such Owner's Capital Account plus any uncontributed Funding Amount, such excess shall be allocated to the Other Owners to the extent of the respective positive balance in each other Owner's Capital Account and, with respect to a Funding Owner, to the extent of the sum of any positive balance in such Owner's Capital Account plus any uncontributed Funding Amount, and in proportion to each other Owner's initial Capital Contributions and to a Funding Owner's aggregate Capital Contributions plus any uncontributed Funding Amount.