Common use of ALLOCATION OF Clause in Contracts

ALLOCATION OF. REALIZED LOSSES WITH RESPECT TO THE GROUP I-IV MORTGAGE LOANS . (a) On or prior to each Determination Date, the Trustee shall determine the amount of any Realized Loss in respect of each Group I-IV Mortgage Loan that occurred during the immediately preceding calendar month. (b) Any Realized Loss with respect to a Group I-IV Mortgage Loan, except for Excess Losses, will be allocated among the Senior-Subordinate Certificates as follows: (i) first, to the Class C-B-6 Certificates, until its Certificate Principal Balance has been reduced to zero; (ii) second, to the Class C-B-5 Certificates, until its Certificate Principal Balance has been reduced to zero; (iii) third, to the Class C-B-4 Certificates, until its Certificate Principal Balance has been reduced to zero; (iv) fourth, to the Class C-B-3 Certificates, until its Certificate Principal Balance has been reduced to zero; (v) fifth, to the Class C-B-2 Certificates, until its Certificate Principal Balance has been reduced to zero; (vi) sixth, to the Class C-B-1 Certificates, until its Certificate Principal Balance has been reduced to zero; and (vii) seventh, to the Senior Certificates of the related Loan Group (other than the Class IV-X Certificates), pro rata, according to and in reduction of their Certificate Principal Balances. (c) Accrued Certificate Interest for each Class of Group I-IV Senior Certificates and the Group II Excess Interest Amounts will be reduced by Net Interest Shortfalls on the Mortgage Loans in the related Loan Group for that Distribution Date, and the Accrued Certificate Interest for the Group C-B Certificates will be reduced by Net Interest Shortfalls on the Group I, Group II, Group III and Group IV Mortgage Loans for that Distribution Date. Net Interest Shortfalls on any Distribution Date will be allocated pro rata among all such Classes of Certificates, and, if applicable, the Group II Excess Interest Amount, related to such Loan Group, based on the amount of interest each of those Classes of Certificates and the Group II Excess Interest Amount, as applicable, would otherwise be entitled to receive on that Distribution Date from such Loan Group before taking into account any reduction in the amounts resulting from Net Interest Shortfalls. The amount a Class of Group C-B Certificates would otherwise be entitled to receive from the Mortgage Loans in a Loan Group before taking into account any such reduction will be based on the amount of interest accruing at the applicable Net WAC Rate on that Class' proportionate share, based on the Certificate Principal Balance, of the related Group C-B Component Balance for that Distribution Date. (d) On each Distribution Date, Excess Losses will be allocated pro rata among the Classes of Senior-Subordinate Certificates (other than the Class P Certificates and Class IV-X Certificates), based on their respective Certificate Principal Balances. (e) On each Distribution Date, if the aggregate Certificate Principal Balance of all Classes of Group I-IV Certificates (other than the Class IV-X Certificates) exceeds the Aggregate Loan Balance of the Group I, Group II, Group III and Group IV Mortgage Loans after giving effect to distributions of principal and the allocation of all losses to these Certificates on that Distribution Date, that excess will be deemed a principal loss and will be allocated to the most junior Class of Group C-B Certificates then outstanding. (f) Notwithstanding anything to the contrary contained herein, if on any Distribution Date the Trustee discovers, based solely on the reports delivered by the Servicer under this Agreement that any Recoveries have been collected by the Servicer with respect to the Group I-IV Mortgage Loans, the amount of such Recoveries will be applied to increase the Certificate Principal Balance of each Class of Senior-Subordinate Certificates to which Realized Losses have been allocated (including any such Class of Senior-Subordinate Certificates for which the Certificate Principal Balance has been reduced to zero), up to the amount of related Recoveries for such Distribution Date, as follows: (a) first, the Certificate Principal Balance of each Class of Senior Certificates (other than the Class IV-X Certificates) related to the Loan Group from which each Recovery was collected will be increased, pro rata, up to the amount of Realized Losses previously allocated to reduce the Certificate Principal Balance of each such Class of Certificates, and (b) second, the Certificate Principal Balance of each Class of Group C-B Certificates will be increased, in order of seniority, up to the amount of Realized Losses previously allocated to reduce the Certificate Principal Balance of each such Class of Certificates. Holders of such Certificates will not be entitled to any payment in respect of Accrued Certificate Interest on the amount of such increases for any Accrual Period preceding the Distribution Date on which such increase occurs. Any such increases shall be applied to the Certificate Principal Balance of each Certificate of such Class in accordance with its respective Percentage Interest. (g) All Realized Losses on the Group I-IV Mortgage Loans shall be allocated on each Distribution Date to the following REMIC I Regular Interests in the specified percentages, as follows: first, so as to keep the Uncertificated Principal Balance of each REMIC I Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC I Regular Interest ending with the designation "SUB," so that the Uncertificated Balance of each such REMIC I Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Principal Balance of the Mortgage Loans in the related Loan Group over (y) the current Certificate Principal Balance of the Senior Certificate in the related Loan Group (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 REMIC I Subordinated Balance Ratio is maintained); and third, any remaining Realized Losses shall be allocated to REMIC I Regular Interest LTI-ZZ. All Realized Losses on the Group I-IV Mortgage Loans shall be allocated on each Distribution Date to REMIC III Regular Interest LTIII-IA, REMIC III Regular Interest LTIII-IIA, REMIC III Regular Interest LTIII-IIIA, REMIC III Regular Interest LTIII-IVA, REMIC III Regular Interest LTIII-CB1, REMIC III Regular Interest LTIII-CB2, REMIC III Regular Interest LTIII-CB3, REMIC III Regular Interest LTIII-CB4, REMIC III Regular Interest LTIII-CB5 and REMIC III Regular Interest LTIII-CB6, in the same manner and priority as Realized Losses are allocated to the Corresponding Certificates.

ALLOCATION OF. REALIZED LOSSES WITH RESPECT TO ON THE GROUP IIII-IV MORTGAGE LOANS VII LOANS. (a) On or prior Prior to each Determination Distribution Date, the Trustee Master Servicer, based solely on the information provided by each related Servicer, shall determine the amount of any Realized Loss in respect of each Losses on the Group IIII-IV Mortgage Loan that occurred during the immediately preceding calendar monthVII Loans, if any. (b) Any Realized Loss with respect to a Losses on the Group IIII-IV Mortgage LoanVII Loans, except for other than Excess Losses, will shall be allocated among the Senior-Subordinate Certificates as follows: : (i) first, to the Class C-B-6 Junior Subordinate Certificates, until its in the reverse order of their numerical Class designation, according to their respective Certificate Principal Balance has Balances until the Certificate Principal Balances thereof have been reduced to zero; , (ii) second, to the Class C-B-5 B-2 Certificates, until its the Certificate Principal Balance thereof has been reduced to zero; , (iii) third, to the Class C-B-4 B-1 Certificates, until its the Certificate Principal Balance thereof has been reduced to zero; , (iv) fourth, to the Class C-B-3 M Certificates, until its the Certificate Principal Balance thereof has been reduced to zero; , and (v) fifth, to the Group III-VII Senior Certificates (other than the Class CVII-B-2 AR-3 Certificates) related to the Loan Group for which such Realized Losses were incurred, by Pro Rata Allocation within such Loan Group, until its the Certificate Principal Balance has Balances thereof have been reduced to zero;. (vic) sixth, Excess Losses with respect to the Class CGroup III-B-1 Certificates, until its Certificate Principal Balance has been reduced to zero; and (vii) seventh, VII Loans will be allocated to the outstanding Class or Classes of Group III-VII Senior Certificates of the related Loan Group (other than the Class IV-X Certificates), pro rata, according and to and in reduction of their Certificate Principal Balances. (c) Accrued Certificate Interest for each Class of Group I-IV Senior Certificates and the Group II Excess Interest Amounts will be reduced III-VII Subordinate Certificates by Net Interest Shortfalls on the Mortgage Loans in the related Loan Group for that Distribution Date, and the Accrued Certificate Interest for the Group C-B Certificates will be reduced by Net Interest Shortfalls on the Group I, Group II, Group III and Group IV Mortgage Loans for that Distribution Date. Net Interest Shortfalls on any Distribution Date will be allocated pro rata among all such Classes of Certificates, and, if applicable, the Group II Excess Interest Amount, related to such Loan Group, based on the amount of interest each of those Classes of Certificates and the Group II Excess Interest Amount, as applicable, would otherwise be entitled to receive on that Distribution Date from such Loan Group before taking into account any reduction in the amounts resulting from Net Interest Shortfalls. The amount a Class of Group C-B Certificates would otherwise be entitled to receive from the Mortgage Loans in a Loan Group before taking into account any such reduction will be based on the amount of interest accruing at the applicable Net WAC Rate on that Class' proportionate share, based on the Certificate Principal Balance, of the related Group C-B Component Balance for that Distribution DatePro Rata Allocation. (d) On each Distribution Date, Excess Losses will be allocated pro rata among the Classes of Senior-Subordinate Certificates (other than the Class P Certificates and Class IV-X Certificates), based on their respective Certificate Principal Balances. (e) On each Distribution Date, if the aggregate Certificate Principal Balance of all Classes of Group IIII-IV VII Certificates (other than the Class IV-X Certificates) exceeds the Aggregate Loan aggregate Principal Balance of the Group I, Group II, Group III and Group IV Mortgage III-VII Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses to these on the related Certificates on that such Distribution Date), that such excess will be deemed a principal loss and will be allocated to the most junior Class of Group CIII-B Certificates then outstanding. (f) Notwithstanding anything to the contrary contained herein, if on any Distribution Date the Trustee discovers, based solely on the reports delivered by the Servicer under this Agreement that any Recoveries have been collected by the Servicer with respect to the Group I-IV Mortgage Loans, the amount of such Recoveries will be applied to increase the Certificate Principal Balance of each Class of Senior-VII Subordinate Certificates to which Realized Losses have been allocated (including any such Class in reverse order of Senior-Subordinate Certificates for which the Certificate Principal Balance has been reduced to zero), up to the amount of related Recoveries for such Distribution Date, as follows: (a) first, the Certificate Principal Balance of each Class of Senior Certificates (other than the Class IV-X Certificates) related to the Loan Group from which each Recovery was collected will be increased, pro rata, up to the amount of Realized Losses previously allocated to reduce seniority until the Certificate Principal Balance of each such Class of Certificates, and (b) second, has been reduced to zero. If the Certificate Principal Balance of each Class of Group CIII-B Certificates will be increased, in order of seniority, up VII Subordinate Certificate has been reduced to zero and the amount of Realized Losses previously allocated to reduce the aggregate Certificate Principal Balance of each such Class all outstanding Classes of Certificates. Holders of such Group III-VII Senior Certificates will not be entitled to any payment in respect of Accrued Certificate Interest on exceeds the amount of such increases for any Accrual Period preceding the Distribution Date on which such increase occurs. Any such increases shall be applied to the Certificate aggregate Principal Balance of each Certificate the Group III-VII Loans (after giving effect to distributions of principal and the allocation and reimbursement of all losses on Group III-VII Certificates on such Class in accordance with its respective Percentage InterestDistribution Date), such excess will be deemed a principal loss and will be allocated to the Group III-VII Senior Certificates of the related Loan Group by Pro Rata Allocation. (ge) All Realized Losses on the Group IIII-IV Mortgage VII Loans shall be allocated applied after all distributions have been made on each Distribution Date to the following REMIC I Regular Interests in the specified percentages, as follows: first, so as to keep the Uncertificated Principal Balance of each REMIC I V Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Stated Scheduled Principal Balance of the Mortgage Loans in the related Loan Group; second, to each REMIC I V Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC I V Regular Interest is equal to 0.01% of the excess of (x) the aggregate Stated Scheduled Principal Balance of the Mortgage Loans in the related Loan Group over (y) the current Certificate Principal Balance of the Group III-VII Senior Certificate Certificates in the related Loan Group (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 V Regular Interests such that the REMIC I V Subordinated Balance Ratio is maintained); and third, any remaining Realized Losses shall be allocated to REMIC I V Regular Interest LTILTV-ZZ. All XX. (f) Realized Losses on the Group IIII-IV Mortgage VII Loans shall be allocated applied after all distributions have been made on each Distribution Date to the REMIC III VI Regular Interest LTIII-IA, REMIC III Regular Interest LTIII-IIA, REMIC III Regular Interest LTIII-IIIA, REMIC III Regular Interest LTIII-IVA, REMIC III Regular Interest LTIII-CB1, REMIC III Regular Interest LTIII-CB2, REMIC III Regular Interest LTIII-CB3, REMIC III Regular Interest LTIII-CB4, REMIC III Regular Interest LTIII-CB5 and REMIC III Regular Interest LTIII-CB6, Interests in the same manner and priority as such Realized Losses are allocated to the Corresponding Certificates.