Recoveries. (a) With respect to any Class of Certificates to which a Realized Loss has been allocated (including any such Class for which the related Class Certificate Principal Balance has been reduced to zero), the Class Certificate Principal Balance of such Class will be increased, up to the amount of related Recoveries for such Distribution Date as follows: (i) first, the Class Certificate Principal Balance of each Class of Senior Certificates related to the Loan Group from which the Recovery was collected, will be increased pro rata, up to the amount of Net Realized Losses for each such Class, and (ii) second, the Class Certificate Principal Balance of each Class of Subordinate Certificates will be increased in order of seniority, up to the amount of Net Realized Losses for each such Class. (b) Any increase to the Class Certificate Principal Balance of a Class of Certificates shall increase the Certificate Principal Balance of each Certificate of the related Class pro rata in accordance with each Percentage Interest.
Appears in 9 contracts
Samples: Pooling and Servicing Agreement (Greenwich Capital Acceptance Inc), Pooling and Servicing Agreement (Harbor View Mortgage Loan Trust 2005-14), Pooling and Servicing Agreement (HarborView Mortgage Loan Trust 2004-10)
Recoveries. (a) With respect to The Class Certificate Principal Balance of any Class of Certificates to which a Realized Loss has been allocated (including any such Class for which the related Class Certificate Principal Balance has been reduced to zero), the Class Certificate Principal Balance of such Class ) will be increased, increased up to the amount of related Recoveries for such Distribution Date as follows:
(i) first, to increase the Class Certificate Principal Balance of each such Class of Senior Certificates of the related to the Loan Group from which the Recovery was collected, will be increased pro rataGroup, up to the amount of Net Realized Losses previously allocated to reduce the Class Certificate Principal Balance for each such Class, and
(ii) second, to increase the Class Certificate Principal Balance of each such Class of Subordinate Certificates will be increased Certificates, in order of seniority, up to the amount of Net Realized Losses previously allocated to reduce the Class Certificate Principal Balance for each such Class.
(b) Any increase to the Class Certificate Principal Balance of a Class of Certificates shall increase the Certificate Principal Balance of each Certificate of the related Class pro rata in accordance with each the applicable Percentage Interest.
Appears in 5 contracts
Samples: Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2006-1), Pooling and Servicing Agreement (Thornburg Mortgage Securities Trust 2007-4), Pooling and Servicing Agreement (Thornburg 2006-2)
Recoveries. (a) With respect to any Class of Certificates to which a Realized Loss has been allocated (including any such Class for which the related Class Certificate Principal Balance has been reduced to zero), the Class Certificate Principal Balance of such Class will be increased, up to the amount of related Recoveries for such Distribution Date as follows:
(i) first, the Class Certificate Principal Balance of each the Class of Senior A Certificates related to the Loan Group from which the Recovery was collected, will be increased pro rata, up to the amount of by which Net Realized Losses previously allocated to such Class exceeds the amount of Recoveries for each such Distribution Date previously distributed to such Class, and
(ii) second, the Class Certificate Principal Balance of each Class of Subordinate Certificates will be increased in order of seniority, up to the amount of by which Net Realized Losses previously allocated to each such Class exceeds the amount of Recoveries for each such Distribution Date previously distributed to such Class.
(b) Any increase to the Class Certificate Principal Balance of a Class of Certificates shall increase the Certificate Principal Balance of each Certificate of the related Class pro rata in accordance with each Percentage Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (HarborView 2006-13)
Recoveries. (a) With respect to any Class of Certificates to which a Realized Loss has been allocated (including any such Class for which the related Class Certificate Principal Balance has been reduced to zero), the Class Certificate Principal Balance of such Class will be increased, up to the amount of related Recoveries allocated to such Class for such Distribution Date as follows:
(i) first, the Class Certificate Principal Balance of each Class of Senior Certificates related to the Loan Group from which the Recovery was collectedCertificates, will be increased pro rata, up to the amount of Net Realized Losses for each such Class, and
(ii) second, the Class Certificate Principal Balance of each Class of Subordinate Certificates will be increased in order of seniority, up to the amount of Net Realized Losses for each such Class.
(b) Any increase to the Class Certificate Principal Balance of a Class of Certificates shall increase the Certificate Principal Balance of each Certificate of the related Class pro rata in accordance with each Percentage Interest.
Appears in 1 contract
Samples: Pooling and Servicing Agreement (Greenpoint Mortgage Loan Trust 2004-1)