Realized Losses. Realized Losses shall be allocated first against the Overcollateralization Amount, until the Overcollateralization Amount has been reduced to zero. If, after giving effect to the distribution of the Principal Distribution Amount on any Distribution Date the aggregate Class Certificate Balance of the Offered Certificates exceeds the Pool Principal Balance as of the end of the related Due Period, such excess will be allocated against the Class B-3, Class B-2, Class B-1, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order and until the respective Class Certificate Balances thereof are reduced to zero.
Realized Losses. 7.7.1. Liquidation Realized Loss Determination....................... 7.7.2. Bankruptcy Realized Loss Determination........................ 7.7.3.
Realized Losses. (i) Realized Losses shall be applied prior to making any distributions have been made on each Distribution Date in the following order:
(1) Pro rata within each Pool, so as to keep the Certificate Balances of each REMIC I Regular Interest beginning with the designation "MA" equal to 0.01% of the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Pool; and to each REMIC I Regular Interest beginning with the designation "MB", so that the Certificate Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Scheduled Principal Balance of the Mortgage Loans in the related Pool over (y) the Certificate Balance of the Senior Certificates in REMIC III of the related Pool (except that if any such excess is a larger number than in the preceding distribution period, the least amount of Realized Losses shall be applied to such REMIC I Regular Interests such that the Subordinate Balance Ratio is maintained);
(2) the remaining Realized Losses in Pool 1 shall be allocated first to the Class BI-1 Interest until the Certificate Balance thereof has been reduced to zero, thereafter pro rata to the Class BI-2 Interest until the Certificate Balance thereof has been reduced to zero, and thereafter pro rata to the Class A Interests;
(3) the remaining Realized Losses in Pool 2 shall be allocated first to the Class BI-2 Interest until the Certificate Balance thereof has been reduced to zero, thereafter to the Class BI-1 Interests until the Certificate Balances thereof have been reduced to zero, and thereafter pro rata to the Class A Interests;
(ii) Realized Losses allocated to REMIC Interests in accordance with Sections 3.02(a)(i) shall be allocated to the Class B Interests in REMIC II in reverse sequential order, in each case until the Certificate Balance of each such Class has been reduced to zero; thereafter, any Realized Losses will be allocated to the Class A Interests pro rata in proportion to the Certificate Balances of such Class A Interests immediately prior to the distribution date.
(iii) Realized Losses allocated to REMIC Interests in accordance with Section 3.02(a)(i), 3.02(a)(ii) or 3.02(a)(iii) shall be allocated to the Class B Certificates in REMIC III in reverse sequential order, in each case until the Certificate Balance of each such Class has been reduced to zero; thereafter, any Realized Losses will be allocated to the Class of Class A Interests pro rata based on their outstanding Certificate Bala...
Realized Losses. (i) On each Distribution Date, Realized Losses realized during the prior calendar month will be allocated to reduce the Class Principal Balances of the related Subordinate Certificates in reverse numerical order, in each case until the Class Principal Balance of each Class of related Subordinate Certificates has been reduced to zero. If the Class Principal Balances of the Subordinate Certificates related to Group 1 and Group 2 or the Subordinate Certificates related to Group 3, Group 4 and Group 5 have been reduced to zero, further Realized Losses on the Mortgage Loans shall be allocated to the related Senior Certificates based on their outstanding Class Principal Balances in each case until the Class Principal Balance has been reduced to zero.
(ii) If on any Distribution Date, any losses due to the bankruptcy of the related mortgagor, fraud on any party to the related mortgage documents and Special Hazard Losses such as natural disasters, which are not covered by special hazard insurance policies or flood insurance policies (“Special Losses”) are realized during the prior calendar month and the aggregate Class Principal Balance of the (i) Subordinate Certificates related to Loan Group 1 or Loan Group 2 or (ii) Subordinate Certificates related to Loan Group 3, Loan Group 4 or Loan Group 5 have been reduced to zero, and a Realized Loss that is a Special Loss is to be allocated to the certificates senior to such Loan Group or Loan Groups, as the case may be, such loss will be allocated to the most subordinate class of Subordinate Certificates of any Loan Group outstanding until the aggregate class Principal Balance of all Subordinate Certificates was reduced to zero. Thereafter, Special Losses shall be allocated to the Senior Certificates of the related Loan Group.
(iii) Whenever Realized Losses are required to be allocated to a Class of Certificates, the Realized Loss shall be allocated to Certificates of such Class of the related Loan Group or Loan Groups, as the case may be, based on their respective outstanding principal amounts.
Realized Losses. On each Distribution Date, following the distributions to be made on such date pursuant to subsection (a) of this Section 3.2.2, the Trustee shall allocate Realized Losses as set forth in “Description of the Senior and Mezzanine Certificates— Allocation of Losses” in the Prospectus.
Realized Losses. Realized Losses shall be allocated first against the Overcollateralization Amount, until the Overcollateralization Amount has been reduced to zero. If, after giving effect to the distribution of the Principal Distribution Amount on any Distribution Date the aggregate Class Certificate Balance of the Offered Certificates exceeds the Pool Principal Balance as of the end of the related Due Period, such excess will be allocated against the Class B-3, Class B-2, Class B-1, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2, Class M-1 and, only with respect to any remaining Realized Losses relating to the Group II-A Loans, Class AV-1B Certificates, in that order and until the respective Class Certificate Balances thereof are reduced to zero.
Realized Losses. On any Distribution Date, following distributions to be made on that Distribution Date, any Realized Losses (as defined in the Underlying Agreement) allocated to the Underlying Securities shall be allocated to the Class A-1 Grantor Trust Certificates, until the Current Principal Amount thereof has been reduced to zero. Realized Losses shall be allocated prorata among the outstanding Grantor Trust Certificates based upon their respective Percentage Interests.
Realized Losses. In any Security Collection Period in which any portion of the principal or previously accrued interest payable on the Mortgage Loan is cancelled in connection with any bankruptcy, insolvency or other similar proceeding involving any Borrower or a modification, waiver or amendment of the Mortgage Loan agreed to by the Servicer following default pursuant to Section 3.20, a “Realized Loss” shall arise in the amount of such principal and/or interest (other than Post-ARD Additional Interest) so cancelled. Immediately following the distributions to be made on each Distribution Date, any Realized Loss incurred on the Mortgage Loan during the related Security Collection Period will be allocated to reduce the Class Principal Balance of each Class sequentially in reverse order of alphabetical Class designation, in each case to the extent of the lesser of the remaining Class Principal Balance of such Class and the remaining unallocated portion of such Realized Loss. Any reduction of the Class Principal Balance of a Class of Securities will be allocated among the Subclasses of such Class on a pro rata basis, based on the Subclass Principal Balance of each such Subclass, and among each Security of such Subclass on a pro rata basis, based on the Security Principal Balance of each such Security.
Realized Losses. Realized Losses shall be allocated first against the Overcollateralization Amount, until the Overcollateralization Amount has been reduced to zero. If, after giving effect to the distribution of the Principal Distribution Amount on any Distribution Date the aggregate Class Certificate Balance of the Offered Certificates exceeds the Pool Principal Balance as of the end of the related Due Period, such excess will be allocated against the Class []-[], Class []-[], Class []-[], Class []-[], Class []-[], Class []-[], Class []-[], Class []-[] and Class []-[] Certificates, in that order and until the respective Class Certificate Balances thereof are reduced to zero.
Realized Losses. On any Distribution Date, following distributions to be made on that Distribution Date, any Realized Losses (as defined in each Underlying Agreement) allocated (a) to the Group I Underlying Securities, will first be allocated to the Class I-A-2 Grantor Trust Certificates, until the Current Principal Amount thereof has been reduced to zero, and then to the Class I-A-1 Grantor Trust Certificates, until the Current Principal Amount thereof has been reduced to zero; and (b) to the Group II Underlying Securities, will first be allocated to the Class II-A-2 Grantor Trust Certificates, until the Current Principal Amount thereof has been reduced to zero, and then to the Class II-A-1 Grantor Trust Certificates, until the Current Principal Amount thereof has been reduced to zero.
