Application of Applied Realized Loss Amounts Clause Samples
The 'Application of Applied Realized Loss Amounts' clause defines how losses that have been realized and applied are allocated or distributed within the context of a contract or financial arrangement. In practice, this clause specifies the process for determining which parties bear the financial impact of such losses, often detailing the order of application or the accounts affected. Its core function is to ensure transparency and fairness in the handling of realized losses, thereby reducing disputes and clarifying the financial responsibilities of each party involved.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate the Applied Realized Loss Amount to reduce the Class Certificate Balances of the Subordinated Certificates, sequentially, to the Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero. Thereafter, (i) if the aggregate Class Certificate Balance of the Group 1 Senior Certificates exceeds the aggregate Stated Principal Balance of the Group 1 Mortgage Loans, the amount of such excess will be applied to reduce the Class Certificate Balance of the Class 1-A-Certificates until its Class Certificate Balance has been reduced to zero, and (ii) if the aggregate Class Certificate Balance of the Group 2 Senior Certificates exceeds the aggregate Stated Principal Balance of the Group 2 Mortgage Loans, the amount of such excess will be applied to reduce the Class Certificate Balance of each Class of Group 2 Senior Certificates, on a pro rata basis according to their respective Class Certificate Balances, until the Class Certificate Balances of such Classes have been reduced to zero except that any amount allocated to the Class 2-A-2A Certificates will instead be allocated to the Class 2-A-2B Certificates, until its Class Certificate Balance is reduced to zero.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trust Administrator shall allocate any Applied Realized Loss Amount, first, to reduce the Class Principal Balances of the Class I-M7, Class I-M6, Class I-M5, Class I-M4, Class I-M3, Class I-M2 and Class I-M1 Certificates, sequentially, in that order, in each case until their respective Class Principal Balances are reduced to zero and second, pro rata, to the Subgroup I-1 Certificates and Subgroup I-2 Certificates, concurrently, as follows:
(A) to reduce the Class Principal Balance of the Class I-1A Certificates, until its Class Principal Balance is reduced to zero, and
(B) sequentially, (i) first, to reduce the Class Principal Balance of the Class I-2A4 Certificates, until its Class Principal Balance is reduced to zero; and (ii) second, concurrently (pro rata, with respect to subclause (x) below based on the aggregate Class Principal Balance of the Class I-2A1 and Class I-2A2 Certificates, and with respect to subclause (y) below based on the aggregate Class Principal Balance of the Class I-2A3 Certificates) as follows: (x) to reduce the Class Principal Balance of the Class I-2A2 and Class I-2A1 Certificates, sequentially, in that order, until their respective Class Principal Balances are reduced to zero; and (y) to reduce the Class Principal Balance of the Class I-2A3 Certificates, until its Class Principal Balance is reduced to zero.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate any Applied Realized Loss Amount, first, to reduce the Class Certificate Balances of the Class M-10, Class M-9, Class M-8, Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, sequentially, in that order, until their respective Class Certificate Balances are reduced to zero and, second, to the Group 1 Senior Certificates and Group 2 Senior Certificates, pro rata, on the basis of the aggregate Class Certificate Balance of the related Senior Certificates, as follows: (a) with respect to the Group 1 Senior Certificates, sequentially, to the Class 1-A-2 and Class 1-A-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero; and (b) with respect to the Group 2 Senior Certificates, sequentially, to the Class 2-A-3, Class 2-A-2 and Class 2-A-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate the Applied Realized Loss Amount to reduce the Class Certificate Balances of the Certificates, sequentially, to the Class M-12, Class M-11, Class M-10, Class M-9, Class M-8, Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2, Class M-1 and Class A-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero,.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trust Administrator shall allocate any Group 1 Applied Realized Loss Amount, first, to reduce the Class Principal Balances of the Class 1-M5, Class 1-M4, Class 1-M3, Class 1-M2, Class 1-M1 and Class 1-A3 Certificates, sequentially, in that order, in each case until their respective Class Principal Balances are reduced to zero and second, concurrently, pro rata, to the Subgroup 1-1 Certificates and Subgroup 1-2 Certificates: (a) to reduce the Class Principal Balances of the Class 1-1A2 and Class 1-1A1 Certificates, in that order, until their respective Class Principal Balances are reduced to zero and (b) to reduce the Class Principal Balances of the Class 1-2A2 and Class 1-2A1 Certificates, in that order, until their respective Class Principal Balances are reduced to zero.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate the Applied Realized Loss Amount to reduce (i) the Class Certificate Balances of the Subordinated Certificates, sequentially, to the Class ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero, and (ii) the Class Certificate Balance of each Class of Senior Certificates, pro rata based on their respective Class Certificate Balances, until their respective Class Certificate Balances of such Classes have been reduced to zero, except that any amounts that would otherwise be allocated to the Class A-1 Certificates will instead be allocated, pro rata, based on their respective Class Certificate Balances, to the Class A-2 and Class A-3 Certificates, until their respective Class Certificate Balances are reduced to zero.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate the Applied Realized Loss Amount to reduce the Class Certificate Balances of the Subordinated Certificates, sequentially, to the Class M-11, Class M-10, Class M-9, Class M-8, Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero. After the Class Certificate Balance of each class of Subordinated Certificates has been reduced to zero, if the aggregate Class Certificate Balance of the Senior Certificates exceeds the aggregate Stated Principal Balance of the Mortgage Loans, the amount of that excess will be allocated to reduce the Class Certificate Balances of Senior Certificates, pro rata based on their then-outstanding Class Certificate Balances; provided, however, that any losses that would otherwise be allocated to the Class A-1 and Class A-2 Certificates will be allocated to the Class A-3 Certificates, until its Class Certificate Balance is reduced to zero.
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate the Applied Realized Loss Amount to reduce the Class Certificate Balances of the Subordinated Certificates and the Class A-5 Certificates, sequentially, to the Class M-9, Class M-8, Class M-7, Class M-▇, ▇▇▇▇▇ ▇-▇, Class M-4, Class M-3, Class M-2, Class M-1 and Class A-5 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero. Thereafter, any such excess will be applied, concurrently, to the Class A-1, Class A-2, Class A-3 and Class A-4 Certificates, pro rata, until their respective Class Certificate Balances are reduced to zero
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trust Administrator shall allocate any Applied Realized Loss Amount, first, to reduce the Class Principal Balances of the Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, sequentially, in that order, in each case until their respective Class Principal Balances are reduced to zero, and second, to reduce the Class Principal Balances of the Class AC Certificates, pro rata, until their respective Class Principal Balances are reduced to zero. All Realized Losses on the Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interest LTAA and REMIC II Regular Interest LTZZ up to an aggregate amount equal to the REMIC II Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC II Regular Interest LTAA and REMIC II Regular Interest LTZZ up to an aggregate amount equal to the REMIC II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC II Regular Interest LTAA, REMIC II Regular Interest LTM7 and REMIC II Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTM7 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTAA, REMIC II Regular Interest LTM6 and REMIC II Regular Interest LTZZ, 98%, 1% and 1%, respectively until the Uncertificated Principal Balance of REMIC II Regular Interest LTM6 has been reduced to zero; fifth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTAA, REMIC II Regular Interest LTM5 and REMIC I Regular Interest LTZZ, 98%, 1% and 1%, respectively until the Uncertificated Principal Balance of REMIC II Regular Interest LTM5 has been reduced to zero; sixth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTAA, REMIC II Regular Interest LTM4 and REMIC II Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTM4 has been reduced to zero; seventh, to the Uncertificated Principal Balances of REMIC II Regular Interest LTAA, REMIC II Regular Interest LTM3 and REMIC II Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTM3 has been reduce...
Application of Applied Realized Loss Amounts. On each Distribution Date, the Trustee shall allocate the Applied Realized Loss Amount to reduce the Class Certificate Balances of the Subordinated Certificates, sequentially, to the Class M-10, Class M-9, Class M-8, Class M-7, Class M-6, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order, until their respective Class Certificate Balances are reduced to zero. Thereafter, (i) if the aggregate Class Certificate Balance of the Group 1 Senior Certificates exceeds the aggregate Stated Principal Balance of the Group 1 Mortgage Loans, the amount of that excess will be allocated, sequentially, to the Class 1-A-1B and Class 1-A-1A Certificates, in that order, until their respective Class Certificate Balances are reduced to zero; and (ii) if the aggregate Class Certificate Balance of the Group 2 Senior Certificates exceeds the aggregate Stated Principal Balance of the Group 2 Mortgage Loans, sequentially, to the Class 2-A-1C, Class 2-A-1B and Class 2-A-1A Certificates, in that order, until their respective Class Certificate Balances are reduced to zero.