Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Loss Amount, if any, for such Distribution Date. The Applied Loss Amount for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Principal Balance thereof is reduced to zero. Any Applied Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 21 contracts
Sources: Pooling and Servicing Agreement (CSFB Mortgage Sec Corp Home Eq Pass THR Certs Ser 2003-1), Pooling and Servicing Agreement (Home Equity Pass Through Certificates Series 2003-3), Pooling and Servicing Agreement (Home Equity Pass Through Certificates Series 2002-4)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Realized Loss Amount, if any, Amounts for such Distribution Date. The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 17 contracts
Sources: Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2), Pooling and Servicing Agreement (Renaissance Mort Accept Corp Home Equity Ln as Bk Ce Se 03-3), Pooling and Servicing Agreement (Home Equity Loan Asset-Backed Certificates Series 2003-2)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Realized Loss Amount, if any, Amounts for such Distribution Date. The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing the Class Certificate Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Certificate Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 8 contracts
Sources: Pooling and Servicing Agreement (Aames Capital Corp), Pooling and Servicing Agreement (Aames Capital Corp Mort Pass THR Certs Ser 2001 3), Pooling and Servicing Agreement (Aames Capital Corp Aames Mortgage Trust 2002-1)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Realized Loss Amount, if any, Amounts for such Distribution Date. The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing reducing, on a dollar for dollar basis, the Class Certificate Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Certificate Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 7 contracts
Sources: Pooling and Servicing Agreement (Chec Funding LLC Centex Home Equity Loan Trust 2003-C), Pooling and Servicing Agreement (Centex Funding LLC Centex Home Eq Ln Ast Bk Cert Ser 2003-A), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2003-B)
Allocation of Losses. (a) On each Distribution Date, the Trustee Servicer shall determine the total of the Applied Realized Loss Amount, if any, Amounts for each Certificate Group for such Distribution Date. The Applied Realized Loss Amount for each Certificate Group for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Subordinate Certificates beginning with in such Certificate Group in the following order, Class of Subordinate Certificates then outstanding with the lowest relative payment priorityB, Class M-2 and Class M-1, in each case until the respective Class Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 4 contracts
Sources: Pooling and Servicing Agreement (Delta Funding Corp /De/), Pooling and Servicing Agreement (Delta Funding Corp /De/), Pooling and Servicing Agreement (Delta Funding Corp /De/)
Allocation of Losses. (a) On each Distribution Date, the Trustee Servicer shall determine the total of the Applied Realized Loss Amount, if any, Amounts for such Distribution Date. The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 3 contracts
Sources: Pooling and Servicing Agreement (Delta Funding Home Equity Loan Tr 99-3 Home Eq as Bk Se 99-3), Pooling and Servicing Agreement (Delta Funding Home Equity Loan Tr 1999-2 Home Equ Loan Ass B), Pooling and Servicing Agreement (Delta Funding Corp /De/)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Realized Loss Amount, if any, Amounts for such Distribution Date. The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing reducing, on a dollar for dollar basis, the Class Certificate Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Certificate Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.. END OF ARTICLE VII
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Chec Funding LLC), Pooling and Servicing Agreement (Chec Funding LLC)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Realized Loss Amount, if any, Amounts for each Group for such Distribution Date. The Applied Realized Loss Amount for any Group and Distribution Date shall be applied by reducing reducing, on a dollar for dollar basis, the Class Certificate Principal Balance of each Class of Subordinate Certificates of the related Group beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Certificate Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 2 contracts
Sources: Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2002-A), Pooling and Servicing Agreement (Centex Home Equity Loan Trust 2002 B)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Loss AmountAmount with respect to the Certificates, if any, for such Distribution Date. The Applied Loss Amount with respect to the Certificates for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Principal Balance thereof is reduced to zero. Any Applied Loss Amount with respect to the Certificates allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Credit Suisse First Boston Mortgage Securities Corp)
Allocation of Losses. (a) On each Distribution Date, the Trustee shall determine the total of the Applied Realized Loss Amount, if any, Amounts for such Distribution Date. The Applied Realized Loss Amount for any Distribution Date shall be applied by reducing the Class Certificate Principal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, in each case until the respective Class Certificate Principal Balance thereof is reduced to zero. Any Applied Realized Loss Amount allocated to a Class of Subordinate Certificates shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Percentage Interests.. ARTICLE VI ---------- THE CERTIFICATES
Appears in 1 contract
Sources: Pooling and Servicing Agreement (Aames Capital Corp)