Common use of Special Hazard Loss Limit Clause in Contracts

Special Hazard Loss Limit. As of the Cut-off Date with respect to the Mortgage Loans in Pools 1 and Pool 2 (in the aggregate), initially, $4,000,000, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.06% of the aggregate of the Scheduled Principal Balances of the related Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date. As of the Cut-off Date with respect to the Mortgage Loans in Pool 3, initially $3,997,526, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.44% of the aggregate of the Scheduled Principal Balances of the related Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date.

Special Hazard Loss Limit. As of the Cut-off Date with respect to the Mortgage Loans in Pools 1 and Pool 2 (in the aggregate)1, initially, $4,000,0003,958,378.84, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.061.57% of the aggregate of the Scheduled Principal Balances of the related Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date. As of the Cut-off Date with respect to the Mortgage Loans in Pool 32 and Pool 3 combined, initially $3,997,5264,568,000.00, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.441.17% of the aggregate of the Scheduled Principal Balances of the related Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date.

Special Hazard Loss Limit. As of the Cut-off Date with respect to the Mortgage Loans in Pools 1 and Pool or 2 (in the aggregate), initially, $4,000,0004,333,050, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.061.00% of the aggregate of the Scheduled Principal Balances of the related Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date. As of the Cut-off Date with respect to the Mortgage Loans in Pool 3, initially $3,997,5264,550,000, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.441.21% of the aggregate of the Scheduled Principal Balances of the related Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date.

Special Hazard Loss Limit. As of the Cut-off Date Date, $2,582,187 (with respect to the Pool 1 Mortgage Loans in Pools 1 Loans), $3,057,843 (with respect to the Pool 2 Mortgage Loans), $2,498,797 (with respect to the Pool 3 Mortgage Loans) and $3,996,018 (with respect to the Pool 4 and Pool 2 (in the aggregate), initially, $4,000,000, which 5 Mortgage Loans),which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.061.00% of the aggregate of the Scheduled Principal Balances of the related Pool 1, Pool 2, or Pool 3 Mortgage Loans or Pool 4 and Pool 5 Mortgage Loans, as applicable; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan in Pool 1, in the case of the Pool 1 Mortgage Loans, in Pool 2, in the case of the Pool 2 Mortgage Loans, in Pool 3, in the case of the Pool 3 Mortgage Loans, or in any of Pool 4 or Pool 5, in the case of the Pool 4 and Pool 5 Mortgage Loans, having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Pool 1, Pool 2, or Pool 3 Mortgage Loans or Pool 4 and Pool 5 Mortgage Loans, as applicable, secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Pool 1, Pool 2, or Pool 3 Mortgage Loans or Pool 4 and Pool 5 Mortgage Loans, as applicable, of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amount, if any, of Special Hazard Losses incurred with respect to the Pool 1, Pool 2, or Pool 3 Mortgage Loans since the Closing Date. As of the Cut-off Date with respect to the Mortgage Loans in or Pool 3, initially $3,997,526, which amount shall be reduced from time to time to an amount equal on any Distribution Date to the lesser of (a) the greatest of (i) 1.44% of the aggregate of the Scheduled Principal Balances of the related 4 and Pool 5 Mortgage Loans; (ii) twice the Scheduled Principal Balance of the related Mortgage Loan having the highest Scheduled Principal Balance, and (iii) the aggregate Scheduled Principal Balances of the related Mortgage Loans secured by Mortgaged Properties located in the single California postal zip code area having the highest aggregate Scheduled Principal Balance of Mortgage Loans of any such postal zip code area and (b) the related Special Hazard Loss Limit as of the Closing Date less the amountapplicable, if any, of Special Hazard Losses incurred with respect to the Mortgage Loans since the Closing Date.