Common use of Application of Subsequent Recoveries Clause in Contracts

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, to the Class AC Certificates, pro rata, by not more than the amount of the Unpaid Realized Loss Amount for such Classes, and second, sequentially, to the Class M-▇, ▇▇▇▇▇ ▇-▇, Class M-3, Class M-4, Class M-5, Class M-6 and Class M-7 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of each such Class. Holders of Certificates to which any Subsequent Recoveries have been allocated shall not be entitled to any payment in respect of Current Interest on the amount of such increases for any Accrual Period preceding the Distribution Date on which such increase occurs.

Application of Subsequent Recoveries. On each Distribution Date, the Trust Administrator shall allocate the amount of the Subsequent Recoveries, if any, to increase the Class Principal Balance of the Classes of Certificates to which Applied Realized Loss Amounts have been previously allocated, first, to the Class AC Certificates, pro rata, A-2 Certificates by not more than the amount of the Unpaid Realized Loss Amount for such ClassesClass, and second, sequentially, to the Class M-▇-▇, ▇▇▇▇▇ ▇-▇, Class M-3, Class M-4, Class M-5, Class M-6 M-6, Class M-7 and Class M-7 M-8 Certificates, in that order, in each case by not more than the amount of the Unpaid Realized Loss Amount of each such Class. Holders of Certificates to which any Subsequent Recoveries have been allocated shall not be entitled to any payment in respect of Current Interest on the amount of such increases for any Accrual Period preceding the Distribution Date on which such increase occurs.