Allocation of Group V Realized Losses Sample Clauses

Allocation of Group V Realized Losses. (a) On or prior to each Determination Date, the Securities Administrator shall determine the amount of any Realized Loss in respect of each Group V Mortgage Loan that occurred during the immediately preceding calendar month, based solely on the reports delivered by the Servicer pursuant to this Agreement. (b) The interest portion of Realized Losses on the Group V Mortgage Loans shall be allocated to the Certificates as described in Section 1.02 hereof. (c) The principal portion of all Realized Losses on the Group V Mortgage Loans shall be allocated on each Distribution Date as follows: first, in reduction of the Monthly Excess Cashflow; second, to the Class V-X Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class V-M-5 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class V-M-4 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fifth, to the Class V-M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; sixth, to the Class V-M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; seventh, to the Class V-M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and eighth, to the Class V-A-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All such Realized Losses to be allocated to the Certificate Principal Balances of the Class V-A-2 and all Classes of Mezzanine Certificates on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided above. All references above to the Certificate Principal Balance of any Class V-A-2 Certificate, or any Class of Subordinate Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the relevant Distribution Date, before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of the principal portion of Realized Losses to a Class V-A-2 Certificate or a Mezzanine Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated; any allocation of Realized Losses to a Class V-X Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 5.04(iii)(14). No ...