Common use of Allocation of Realized Losses Clause in Contracts

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated to the Classes of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans in each Loan Group for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying Realized Losses with respect to each Loan Group shall be allocated on any Distribution Date shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and (other than A) with respect to Loan Group 1, to the Class A-1 and Class A-R Certificates) , pro rata, based on their respective until the Class Certificate BalancesPrincipal Balance of each such Class is reduced to zero; (B) with respect to Loan Group 2, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its the Class Certificate Principal Balance of such Class is reduced to zero; and (C) with respect to Loan Group 3, to the Class A-3 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates (other than of the Class A-R Certificates) related Senior Certificate Group, pro rata, based rata on the basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on the Group 1 Mortgage Loans that would otherwise be allocated to the Class 1-A-1 Certificates will instead be allocated to the Class 1-A-2 CertificatesCertificates until its Class Certificate Balance is reduced to zero; any Realized Losses other than Excess Losses on the Group 2 Mortgage Loans that would otherwise be allocated to the Class 2-A-1A, Class 2-A-1B, Class 2-A-1C and Class 2-A-2 Certificates will instead be allocated to the Class 2-A-2 Certificates until its Class Certificate Balance is reduced to zero; and any Realized Losses other than Excess Losses on the Group 3 Mortgage Loans that would otherwise be allocated to the Class 3-A-1A and Class 3-A-1B Certificates will instead be allocated to the Class 3-A-2 Certificates until its Class Certificate Balance is reduced to zero. (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated pro rata among the Classes of Senior Certificates (other than the Notional Amount Certificates) of the related Senior Certificate Group and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the Senior Percentage of such Excess Losses shall be allocated among the Classes of Senior Certificates in the related Senior Certificate Group, pro rata, on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the Subordinated Percentage of such Excess Loss shall be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class' share of the Assumed Balance of the related Loan Group immediately prior to the related Distribution Date; provided, however, on any Distribution Date after the second Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Senior Certificates and the Subordinated Certificates on the basis of their respective Class Certificate Balances immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes of Senior Certificates (other than the Notional Amount Certificates) based on their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than any other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on a Mortgage Loan in a Loan Group, shall be allocated to the related PO Component, until the respective Class Certificate Balance or Component Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero and second to the Classes of Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable, and the Class A-R Certificates) related PO Component), pro rata, based on the basis of their respective Class Certificate Balances, provided or, in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of its respective Class Certificate Balance or Component Balance, as applicable, and its respective initial Class Certificate Balance or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of any Allocated Underlying Realized Losses that would on the Mortgage Loans in Loan Group 1 otherwise allocable on any Distribution Date to the Class 1-A-17 Certificates shall instead be allocated to the Class A-1 Certificates will be allocated to the Class A-2 1-A-18 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Supplemental Loan Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Balance” or “Component Balance,” as the case may be. Except as provided in Section 4.04(a)(i) above, all Realized Losses allocated to a Class of Component Certificates will be allocated pro rata to the related Components."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans in each Loan Group for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying Realized Losses with respect to each Loan Group shall be allocated on any Distribution Date shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and (other than A) with respect to Loan Group 1, to the Class A-1 and Class A-R Certificates) , pro rata, based on their respective until the Class Certificate BalancesPrincipal Balance of each such Class is reduced to zero; (B) with respect to Loan Group 2, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its the Class Certificate Principal Balance of such Class is reduced to zero; (C) with respect to Loan Group 3, to the Class A-3 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero; and (D) with respect to Loan Group 4, to the Class A-4 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved]; (ii) Any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first, to the Subordinated Certificates, in reverse order of their respective numerical Class designations (beginning with the Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second, to the Senior Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable), pro rata, on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero. For purposes of allocating losses to the Subordinated Certificates, the Class M Certificates will be considered to have a lower numerical class designation than each other class of Subordinated Certificates. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution 91 Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (other than after giving effect to the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying distribution of principal and the allocation of Net Deferred Interest and Realized Losses that would otherwise be allocated on such Distribution Date) exceeds the sum of any amounts in the Supplemental Loan Account and the Pool Stated Principal Balance as of the last day of the Due Period related to such Distribution Date after giving effect to Principal Prepayments received during the Class A-1 Certificates will be allocated to Prepayment Period ending in the Class A-2 Certificates, until its Class Certificate Balance is reduced to zeromonth of such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance, Component Principal Balance thereof or Subordinated Portion thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance", "Component Principal Balance," or "Subordinated Portion," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including, with respect to the Mortgage Loans in Aggregate Loan Group I, Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (ii) (A) any Realized Loss (other than, with respect to the Mortgage Loans in Aggregate Loan Group I, any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the related Classes of Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the related Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates (other than of the Class A-R Certificates) related Senior Certificate Group, pro rata, based rata on the basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero; provided, however, that any Allocated Underlying Realized Losses on the Group 2 Mortgage Loans that would otherwise be allocated to the Class 2-A-1 Certificates will first be allocated to the Class 2-A-2 Certificates, until its Class Certificate Balance is reduced to zero, any Realized Losses on the Group 4 Mortgage Loans that would otherwise be allocated to the Class 4-A-1 Certificates will first be allocated to the Class 4-A-2 Certificates, until its Class Certificate Balance is reduced to zero, and any Realized Losses on the Group 6 Mortgage Loans that would otherwise be allocated to the Class 6-A-1 Certificates will first be allocated to the Class 6-A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Master Servicer shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the Notional Amount Certificates), pro rata on the basis of their respective Class A-R Certificate Balances immediately prior to the related Distribution Date until the Class Certificate Balances thereof have been reduced to zero; (ii) any Excess Losses on the Mortgage Loans shall be allocated to the Senior Certificates (other than the Notional Amount Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of, their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its . (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.03(a) or (b) above 66 shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.03(a) or (b) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance"."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior Prior to each Distribution Date, the Trustee Master Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Allocated Underlying Realized Losses for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses Losses, if any, with respect to each Loan. Realized Losses on the Loans for any Distribution Date shall be allocated will first, cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date and second, cause a reduction in the Certificate Principal Balance of the Class CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero. To the Classes extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Class A Certificates (other than the Class A-R IO Certificates) pro rata), based Class M and Class P Certificates, after taking into account all distributions on their respective Class Certificate Balancessuch Distribution Date to exceed the aggregate Principal Balance of the Loans as of the last day of the related Due Period, provided that any Allocated Underlying Realized Losses that would otherwise such excess will be allocated first, to the Class A-1 Certificates will be allocated M-3 Certificates; second, to the Class A-2 M-2 Certificates; and third, to the Class M-1 Certificates in each case to reduce the Certificate Principal Balance thereof until its Class Certificate Balance is it has been reduced to zero. (c) Any Allocated Underlying . In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Class M Certificates on any Distribution Date. Any allocation of Realized Losses to a Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made. Any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(G). No allocations of Realized Losses shall be made to the Senior Certificates or the Class P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Class M Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Class M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of the Certificate from Net Monthly Excess Cashflow. As used herein, an allocation of a Realized Loss on a "pro rata basis" among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date. All Realized Losses and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall hereunder will be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) the Percentage Interests evidenced thereby. Any allocation Subsequent Recoveries collected by the Servicers will be distributed as part of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Available Distribution Date Amount in accordance with the definition priorities described under Section 4.1. In addition, the Certificate Principal Balance of "each Class of Mezzanine Certificates that has been reduced by the allocation of a Realized Loss to such Certificate Balancewill be increased, in order of seniority, by the amount of such Subsequent Recoveries, but only to the extent that such Certificate has not been reimbursed for the amount of such Realized Loss (or a portion thereof) allocated to such Certificate from Net Monthly Excess Cashflow. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses with respect to Loans made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate. The principal portion of all Realized Losses on the Loans shall be allocated on each Distribution Date first, to REMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, until the Uncertificated Principal Balances have been reduced to zero and then to REMIC I Regular Interest LTI-IO-1, REMIC I Regular Interest LTI-IO-2, REMIC I Regular Interest LTI-IO-3 and REMIC I Regular Interest LTI-IO-4, until the Uncertificated Principal Balances have been reduced to zero. All Realized Losses on the REMIC I Regular Interests shall be allocated on each Distribution Date to the following REMIC II Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ 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 the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ 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 LTII-AA, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, 98% 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M2 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M1 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M1 has been reduced to zero."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated to the Classes of Certificates as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class A-R Certificatesof Subordinated Certificates then outstanding with the highest numerical Class designation) pro rata, based on their until the respective Class Certificate BalancesBalance of each such Class is reduced to zero, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated and second, sequentially to the Class A-2 and Class A-1 Certificates, in that order, until its the respective Class Certificate Balance of each such Class is reduced to zero. (B) on each Distribution Date, Excess Losses on the Mortgage Loans shall be allocated pro rata among the Classes of Senior Certificates on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Master Servicer shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the Notional Amount Certificates), pro rata on the basis of their respective Class A-R Certificate Balances immediately prior to the related Distribution Date until the Class Certificate Balances thereof have been reduced to zero; (ii) any Excess Losses on the Mortgage Loans shall be allocated to the Senior Certificates (other than the Notional Amount Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of, their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its . (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the sum of (i) the Pool Stated Principal Balance for the following Distribution Date and (ii) the Pre-Funded Amount, if any. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.03(a) or (b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.03(a) or (b) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance"."

Allocation of Realized Losses. (a) On or prior to each Determination Date, the Servicer shall determine the total amount of Realized Losses, including Excess Losses, with respect to the related Distribution Date. (b) With respect to any Distribution Date, Realized Losses, other than Special Hazard Losses, Bankruptcy Losses, Fraud Losses or Extraordinary Losses incurred on the Group I Mortgage Loans, shall be allocated to the Classes of Group I Certificates as follows, except as provided in clause (f) below: (i) FIRST, to the related Subordinate Certificates (other than the Class I-XB Certificates) in decreasing order of their numerical Class designations (beginning with the Class of Subordinate Certificates then outstanding with the second Business Day prior highest numerical Class designation), until the respective Class Principal Balance of each such Class is reduced to zero, and (ii) SECOND, to the Class I-A Certificates, pro rata, on the basis of their respective Class Principal Balances; provided, however, any Realized allocable to the Class I-A-1 Certificates will be allocated to the Class I-A-4 Certificates, until the Class Principal Balance thereof has been reduced to zero. (c) No Realized Losses will be allocated to the Class P Certificates. (d) With respect to any Distribution Date, Excess Losses incurred on the Mortgage Loans shall be allocated to the Group I Certificates, other than the Class I-A-2 Certificates and Class I-XB Certificates, pro rata, based on their respective Class Principal Balances. (e) On each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses the Applied Loss Amount for the Group II Certificates, if any, for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to Applied Loss Amount for any Distribution Date shall be applied by reducing the Class Principal Balance of each Class of Group II 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 Group II Subordinate Certificates shall be allocated among the Classes Subordinate Certificates of Certificates (other than the such Class A-R Certificates) pro rata, based on in proportion to their respective Percentage Interests. (f) On each Distribution Date, if the aggregate Class Principal Balance of all Certificates of a Certificate BalancesGroup exceeds the aggregate Stated Principal Balance of the related Mortgage Loans (in each case, provided that any Allocated Underlying Realized Losses that would otherwise be allocated after giving effect to distributions of principal and the allocation of all losses to the Class A-1 related Certificates on such Distribution Date), such excess will be deemed a principal loss and will be allocated to the most junior Class A-2 of related Subordinate Certificates, until its Class Certificate Balance is reduced to zeropro rata, as applicable, then outstanding. (cg) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to this Section 3.06(b) above 4.05 shall be allocated by the Trustee among the Certificates of such Class in proportion to their respective Certificate Balances. (dh) Any allocation by the Trustee of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to this Section 3.06(a) above 4.05 shall be accomplished by reducing the Certificate Balance thereof thereof, immediately following the distributions made on the related Distribution Date Date, in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to each Determination Date, the beginning Master Servicer shall determine the amount of any Realized Loss in respect of each Mortgage Loan that occurred during the second Business Day prior immediately preceding calendar month. (b) The interest portion of Realized Losses shall be allocated to the related Certificates as described in Section 1.02 hereof. (c) On each Distribution Date, the Trustee shall determine PO Percentage of the total amount principal portion of Allocated Underlying any Realized Loss on a Discount Mortgage Loan and any Class PO Certificate Cash Shortfall, subject to any amounts available to cover such Realized Losses for or any Class PO Certificate Cash Shortfall through the operation of the Subordinate Writedown Amount as described in this paragraph, will be allocated to the Class PO Certificates until the Certificate Principal Balance of the Class PO Certificates is reduced to zero and the remainder of such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit Realized Losses will be allocated as described in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with following paragraph below. With respect to any Distribution Date through the Cross-Over Date, the aggregate of all amounts so allocable to the Class PO Certificates on such date in respect of any Realized Losses and any Class PO Certificate Cash Shortfalls and all amounts previously allocated in respect of such Realized Losses or Class PO Certificate Cash Shortfalls and not distributed on prior Distribution Dates will be the “Class PO Certificate Deferred Amount.” To the extent funds are available therefor on any Distribution Date through the Cross-Over Date, distributions in respect of the Class PO Certificate Deferred Amount for the Class PO Certificates will be made in accordance with priority fifth of clause (a) under Section 6.04. No interest will accrue on the Class PO Certificate Deferred Amount. On each Distribution Date through the Cross-Over Date, the Certificate Principal Balance of the lowest ranking Class of Subordinate Certificates then outstanding will be reduced by the amount of any distributions in respect of any Class PO Certificate Deferred Amount on such Distribution Date in accordance with the priorities set forth above, through the operation of the Subordinate Certificate Writedown Amount. After the Cross-Over Date, no more distributions will be made in respect of, and applicable Realized Losses and Class PO Certificate Cash Shortfalls allocable to the Class PO Certificates shall not be added to, the Class PO Certificate Deferred Amount. (d) The Non-PO Percentage of the principal portion of Realized Losses on the Mortgage Loans will be allocated on any Distribution Date as follows: first, to the Class B-6 Certificates; second, to the Class B-5 Certificates; third, to the Class B-4 Certificates; fourth, to the Class B-3 Certificates; fifth, to the Class B-2 Certificates; and sixth, to the Class B-1 Certificates, in each case until the Certificate Principal Balance of such Class has been reduced to zero. Thereafter, the Non-PO Percentage of principal portion of Realized Losses on the Mortgage Loans will be allocated on any Distribution Date to the outstanding Class or Classes of Senior Certificates (other than the Interest Only Certificates and Class A-R PO Certificates) ), pro rata, based on upon their respective Class Certificate Principal Balances; provided, provided that however, any Allocated Underlying Realized Losses that would otherwise be allocated allocable to the Class A-1 Certificates and the Exchanged Certificates will be allocated to the Class A-2 Certificates, until its the Certificate Principal Balance of that Class Certificate Balance is has been reduced to zero, and then to the Class A-1 Certificates and the Exchanged Certificates, on a pro rata basis. (ce) No reduction of the Certificate Principal Balance of any Class of a Senior Certificate (other than the Interest Only Certificates) shall be made on any Distribution Date on account of Realized Losses to the extent that such reduction would have the effect of reducing the aggregate Certificate Principal Balance of all of the Classes of such Senior Certificates (other than the Interest Only Certificates) as of such Distribution Date to an amount less than the aggregate Stated Principal Balances of the Mortgage Loans as of the related Due Date. (f) All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of 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. (g) Any Allocated Underlying allocation of the principal portion of Realized Loss Losses to a Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated. No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Class P Certificates. (h) All Realized Losses and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above hereunder shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balancesthe Percentage Interests evidenced thereby. (di) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction In addition, in the Certificate Balance of a Certificateevent that the Master Servicer receives any Subsequent Recoveries from the Company or the related Servicer, the Master Servicer shall deposit such funds into the Master Servicer Collection Account pursuant to Section 3.06(a) above 5.06. If, after taking into account such Subsequent Recoveries, the amount of a Realized Loss is reduced, the amount of such Subsequent Recoveries shall be accomplished by reducing applied to increase the Certificate Principal Balance thereof immediately following of the distributions made related Class of Subordinate Certificates with the highest payment priority to which Realized Losses have been allocated, but not by more than the amount of Realized Losses previously allocated to that Class of Subordinate Certificates pursuant to this Section 6.05. Holders of Certificates shall not be entitled to any payment in respect of current interest on the related amount of increases described herein for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. Any such increases shall be applied to the Certificate Principal Balance of each Subordinate Certificate of such Class in accordance with its respective Percentage Interest. (j) The principal portion of Realized Losses on the definition Mortgage Loans shall be allocated on each Distribution Date to the Trust REMIC Regular Interests and the Class R Interest in the same manner as Realized Losses are allocated to the Corresponding Certificates pursuant to Sections 6.05(c) and 6.05(d); provided, however, that solely for purposes of "Certificate Balancethe foregoing, any Realized Losses allocable on any Distribution Date to any Certificates that are the Corresponding Certificates for two or more Trust REMIC Regular Interests on such Distribution Date shall be allocable to such Trust REMIC Regular Interests on a pro rata basis."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated to as follows: (i) the Classes applicable PO Percentage of Certificates (other than the Class A-R Certificates) pro rataany Realized Loss, based on their respective Class Certificate Balancesincluding any Excess Loss, provided that any Allocated Underlying Realized Losses that would otherwise shall be allocated to the Class A-1 PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero, to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero; and (ii) (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates will in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class PO Component), pro rata on the basis of their respective Class Certificate Balances or, in the case of any Class of Accrual Certificates or Accrual Components, on the basis of the lesser of their Class Certificate Balance or Component Balance, as applicable, and their initial Class Certificate Balance or Component Balance, as applicable, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero; provided, that any Realized Losses (other than Excess Losses) on the Mortgage Loans in Loan Group 1 otherwise allocable to the Class 1-A-11 Certificates shall be allocated to the Class A-2 1-A-12 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."; and

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved] (ii) any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero and second to the Senior Certificates of the related Senior Certificate Group (other than the Class A-R any Notional Amount Certificates), as follows: (v) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise on the Mortgage Loans in Loan Group 1 shall be allocated sequentially to the Class 1-A-2 and Class 1-A-1 Certificates will Certificates, in that order, until the Class Certificate Balances thereof are reduced to zero, (w) any Realized Losses on the Mortgage Loans in Loan Group 2 shall be allocated sequentially to the Class 2-A-2 and Class 2-A-1 Certificates, in that order, until its the Class Certificate Balance is Balances thereof are reduced to zero and (x) any Realized Losses on the Mortgage Loans in Loan Group 3 shall be allocated sequentially to the Class 3-A-2 and Class 3-A-1 Certificates, in that order, until the Class Certificate Balances thereof are reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the last day of the Prepayment Period related to such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance, Component Balance thereof or Subordinated Portion thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance," "Component Balance" or "Subordinated Portion," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses with respect to the Mortgage Loans for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, Realized Losses with respect to any Distribution Date that occurred during the related prepayment period shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates (other than with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the Class A-R R, Class A-1A and Class A-1B Certificates) , pro rata, based on Class Certificate Principal Balances, until their respective Class Certificate BalancesBalances are reduced to zero; provided, provided however, that any Allocated Underlying Realized Losses that would losses otherwise be allocated distributable to the Class A-1 A-1A Certificates will be allocated to the Class A-2 A-1B Certificates, until its the Class Certificate Principal Balance of the Class A-1A Certificates is reduced to zero.; (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Certificates (other than Senior Certificates, pro rata on the Class A-R Certificates) pro rata, based on basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on Mortgage Loans that would otherwise be allocated to the Class A-1 A-2 and Class A-3 Certificates will instead be allocated to the Class A-2 Certificates, A-4 Certificates until its Class Certificate Balance is reduced to zero. (B) on each Distribution Date, Excess Losses on the Mortgage Loans shall be allocated pro rata among the Classes of Senior Certificates (other than the Notional Amount Certificates) on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than any other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on a Mortgage Loan in a Loan Group shall be allocated to the Classes related Class PO Component, until the Component Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero and second with respect to Realized Losses on the Mortgage Loans in each Loan Group, to the related Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class A-R Certificates) PO Component), pro rata, based rata on the basis of their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to Balances until the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its respective Class Certificate Balance of each such Class is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Pre-funding Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, Realized Losses with respect to any Distribution Date that occurred during the related prepayment period shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of Certificates their respective numerical Class designations (other than beginning with the Class A-R Certificatesof Subordinate Certificates with the highest numerical Class designation) pro ratauntil the Class Principal Balance of each such Class is reduced to zero; and second, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 A Certificates, until its the Class Certificate Principal Balance of such Class is reduced to zero. (c) The Class Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated to as follows: (i) the Classes applicable PO Percentage of Certificates (other than the Class A-R Certificates) pro rataany Realized Loss, based on their respective Class Certificate Balancesincluding any Excess Loss, provided that any Allocated Underlying Realized Losses that would otherwise shall be allocated to the Class A-1 PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero and, to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero; and (ii) (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates will in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class PO Component), pro rata on the basis of their respective Class Certificate Balances or, in the case of any Class of Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; provided, that any Realized Losses (other than Excess Loss) on the Mortgage Loans in Loan Group 1 otherwise allocable to the Class 1-A-2 Certificates shall be allocated to the Class A-2 1-A-3 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."; and

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine the total amount of Allocated Underlying Realized Losses Losses, with respect to the Prepayment Period related to the Distribution Date based upon information from the Servicer. If on any Distribution Date, after giving effect to all distributions on the Certificates on such Distribution Date and the increase of Certificate Principal Balance as a result of Subsequent Recoveries, the aggregate Certificate Principal Balance of the Certificates exceeds the aggregate Scheduled Principal Balance of the Mortgage Loans for such Distribution Date. The Trustee shall make Date (such determination on excess, an “Applied Loss Amount”), the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis Principal Balance of the agreement referred to Class M Certificates will be reduced in the last sentence inverse order of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall priority of distribution. Applied Loss Amounts will be allocated to in reduction of the Classes of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated Principal Balance to the Class A-1 M Certificates will be allocated to in reverse order of their respective numerical Class designations until the respective Certificate Principal Balance of each such Class A-2 Certificates, until its Class Certificate Balance is reduced to zero. (cb) Any Allocated Underlying Realized Applied Loss Amount allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b10.6(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate BalancesPrincipal Balance. (dc) Any allocation of Allocated Underlying Realized Losses the Applied Loss Amount to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a10.6(a) above shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Principal Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses the Applied Loss Amount, if any, for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to Applied Loss Amount for any Distribution Date shall be allocated to the Classes of Certificates (other than applied by reducing the Class A-R Certificates) pro rataPrincipal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, based on their in each case until the respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Principal Balance thereof is reduced to zero. (c) . Any Allocated Underlying Realized Applied Loss Amount allocated to a Class of Subordinate Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Percentage Interests. All Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to a Certificate or any reduction the following REMIC 1 Regular Interests: first, to REMIC 1 Regular Interests LTI-1 until the Uncertificated Principal Balance thereof has been reduced to zero, then to REMIC 1 Regular Interest LTI-1PF until the Uncertificated Principal Balance thereof has been reduced to zero, however, that with respect to the first three Distribution Dates, Realized Losses relating to the Initial Mortgage Loans shall be allocated to REMIC 1 Regular Interest LTI-1 and Realized Losses relating to the Subsequent Mortgage Loans shall be allocated to REMIC 1 Regular Interest LTI-1PF until the Uncertificated Principal Balance thereof has been reduced to zero. All Realized Losses on the REMIC 1 Regular Interests LTI-1 and LTI-1PF shall be deemed to have been allocated to the following REMIC 2 Regular Interests in the Certificate specified percentages, as follows: first to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interests MTI-AA and MTI-ZZ up to an aggregate amount equal to the excess of (a) the REMIC 2 Interest Loss Allocation Amount over (b) Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for such Distribution Date, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of the REMIC 2 Regular Interests MTI-AA and MTI-ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MTI-AA, REMIC 2 Regular Interest MTI-B and REMIC 2 Regular Interest MTI-ZZ, 98%, 1% and 1%, respectively, until the 95 Uncertificated Principal Balance of a CertificateREMIC 2 Regular Interests MTI-B have been reduced to zero; fourth, pursuant to Section 3.06(a) above the Uncertificated Principal Balances of REMIC 2 Regular Interest MTI-AA, REMIC 2 Regular Interest MTI-M-2 and REMIC 2 Regular Interest MTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MTI-M-2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MTI-AA, REMIC 2 Regular Interest MTI-M-1 and REMIC 2 Regular Interest MTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MTI-M-1 has been reduced to zero. All Realized Losses on the REMIC 2 Regular Interests shall be accomplished by reducing deemed to have been allocated to the Certificate Balance thereof immediately following REMIC 3 Regular Interests in specified percentages and in the distributions made on same priority as that allocated to the related Distribution Date in accordance with the definition of "Certificate BalanceCorresponding Certificates."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (ii) any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Certificates (other than Senior Certificates, pro rata on the Class A-R Certificates) pro rata, based on basis of their respective Class Certificate Balances, provided that in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that, any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will instead be allocated to the Class A-2 Certificates, Certificates until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated to as follows: (i) the Classes applicable PO Percentage of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise Loss shall be allocated to the Class PO Certificates until the Class Certificate Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first, to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second, to the Classes of Senior Certificates (other than any Notional Amount Certificates, if applicable, and the Class PO Certificates), pro rata on the basis of their respective Class Certificate Balances or, in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of Realized Losses otherwise allocable to the Class A-1 and Class A-9 Certificates will shall instead be allocated to the Class A-2 A-14 and Class A-10 Certificates, respectively, until its their respective Class Certificate Balance is Balances are reduced to zero. (b) The Class Certificate Balance of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine aggregate the loan-level information provided by the Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, including Excess Losses, with respect to the Mortgage Loans for such the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying On each Distribution Date, the principal portion of Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses with respect to any such Distribution Date shall be allocated as follows: (i) the principal portion of Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses (other than Excess Losses) shall be allocated in the following order: first, to the Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the Senior Certificates, pro rata, until the Class Certificate Principal Balance of each Class of Senior Certificates is reduced to zero; and (ii) any principal portion of Excess Losses on the Mortgage Loans shall be allocated to the Classes of Senior Certificates and Subordinate Certificates, pro rata, on the basis of the respective Class Certificate Principal Balances of such Classes of Senior Certificates and Subordinate Certificates. (i) On or prior to the first Distribution Date on which the aggregate Class Certificate Principal Balance of the Subordinate Certificates has been reduced to zero (giving effect to all distributions on such Distribution Date), the interest portion of any Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses (other than Excess Losses) with respect to the Mortgage Loans will not be allocated among any Certificates, but will reduce the amount of Available Funds on the related Distribution Date. As a result of the subordination of the Subordinate Certificates in right of distribution, such Realized Losses will be borne by the Subordinate Certificates in inverse order of their numerical Class designations, as follows: (A) first, to the Class A-R B-6 Certificates, in reduction of accrued but unpaid interest therein and then in reduction of the Class B-6 Principal Balance; (B) second, to the Class B-5 Certificates, in reduction of accrued but unpaid interest therein and then in reduction of the Class B-5 Principal Balance; (C) third, to the Class B-4 Certificates, in reduction of accrued but unpaid interest therein and then in reduction of the Class B-4 Principal Balance; (D) fourth, to the Class B-3 Certificates, in reduction of accrued but unpaid interest therein and then in reduction of the Class B-3 Principal Balance; (E) fifth, to the Class B-2 Certificates, in reduction of accrued but unpaid interest therein and then in reduction of the Class B-2 Principal Balance; (F) sixth, to the Class B-1 Certificates, in reduction of accrued but unpaid interest therein and then in reduction of the Class B-1 Principal Balance; and (G) seventh, first, to the Senior Certificates, pro ratarata according to the respective accrued but unpaid interest thereon, in reduction thereof, and then to such Senior Certificates, pro rata based on their the respective Class Certificate Principal Balances, provided that in reduction thereif. (ii) The interest portion of any Allocated Underlying Realized Excess Losses that would otherwise on the Mortgage Loans shall be allocated to the Classes of Senior Certificates and Subordinate Certificates, pro rata, on the basis of the respective interest that each Class A-1 of Certificates will would otherwise be allocated entitled to receive on that Distribution Date; provided however, that the interest portion of Excess Losses on the Mortgage Loans shall be applied, pro rata, first to reduce the outstanding interest portion on each Class of Certificates and then to reduce, pro rata, the Class A-2 Certificate Principal Balance of each Class of Certificates, until its Class Certificate Balance is reduced to zero. (cd) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses and Excess Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (e) Any Allocated Underlying Realized Loss, Bankruptcy Loss, Fraud Loss, Special Hazard Loss or Excess Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b), (c) above and (d) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (df) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b), (c) above and (d) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans in each Loan Group for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying Realized Losses with respect to each Loan Group shall be allocated on any Distribution Date shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, (other than A) with respect to Loan Group 1, to the Class A-1 and Class A-R Certificates) , pro rata, based on their respective until the Class Certificate BalancesPrincipal Balance of each such Class is reduced to zero; (B) with respect to Loan Group 2, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its the Class Certificate Principal Balance of such Class is reduced to zero; and (C) with respect to Loan Group 3, to the Class A-3 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, including Excess Losses, with respect to the Mortgage Loans for such the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses with respect to any Distribution Date shall be allocated as follows: (i) Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses (other than Excess Losses) shall be allocated: first, to the Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the Senior Certificates, other than the Class X Certificates, pro rata, until the Class Certificate Principal Balance of each Class of Senior Certificates is reduced to zero; and (ii) any Excess Losses on the Mortgage Loans shall be allocated to the Classes of Senior Certificates (other than the Class A-R X Certificates) and Subordinate Certificates, pro rata, based on their the basis of the respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Principal Balances of such Classes of Senior Certificates will be allocated to the Class A-2 and Subordinate Certificates, until its Class Certificate Balance is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses and Excess Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss, Bankruptcy Loss, Fraud Loss, Special Hazard Loss or Excess Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b4.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a4.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Principal Balance"."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first, to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations, until the respective Class Certificate Balance of each such Class is reduced to zero and second, to the Senior Certificates (other than the Class A-R X-1 and Class X-2 Certificates) ), pro rata, based on the basis of their respective Class Certificate BalancesBalances or, provided that in the case of any Allocated Underlying Realized Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero; (ii) any Excess Losses that would otherwise shall be allocated to the Class A-1 Senior Certificates will be allocated to (other than the Class A-2 X-1 and Class X-2 Certificates) and the Subordinated Certificates then outstanding, pro rata, on the basis of their respective Class Certificate Balances or, in the case of any Accrual Certificates, until its on the basis of the lesser of the Class Certificate Balance is and the initial Class Certificate Balance thereof, in each case immediately prior to the related Distribution Date, until the Class Certificate Balances thereof have been reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses with respect to the Mortgage Loans for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, Realized Losses with respect to any Distribution Date shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the Senior Certificates (other than the Class A-R X Certificates) ), pro rata, based on their respective until the Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Principal Balance of each such Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans in each Mortgage Loan Group for the related Payment Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Payment Date Statement. (b) Allocated Underlying Realized Losses with respect to any Distribution Date each Mortgage Loan Group shall be allocated on any Payment Date as follows: first, to the Classes Subordinate Notes in reverse order of Certificates their respective numerical Class designations (other than beginning with the Class A-R Certificatesof Subordinate Notes with the highest numerical Class designation) pro ratauntil the Class Principal Amount of each such Class is reduced to zero; and second, based on their respective Class Certificate Balances, provided but only to the extent that any Allocated Underlying Realized Losses that would otherwise remaining after the allocations in clause first exceeds amounts then on deposit in the Reserve Fund for such Payment Date, (A) with respect to Mortgage Loan Group [ ], to the Class [ ] Notes and the Class [ ] Notes, until the Class Principal Amount of such Class is reduced to zero; provided, however, the amounts of any Realized Losses to be so allocated to the Class [ ] Notes shall instead be allocated to the Class A-1 Certificates will be allocated to [ ] Notes until the Class A-2 Certificates, until its Principal Amount of the Class Certificate Balance is [ ] Notes has been reduced to zero; [To be modified in accordance with the structure of the related transaction.] (c) The Class Principal Amount of the Class of Subordinate Notes then outstanding with the highest numerical Class designation shall be reduced on each Payment Date by the amount, if any, by which the aggregate of the Class Principal Amounts of all outstanding Classes of Notes (after giving effect to the payments of principal and the allocation of Realized Losses on such Payment Date) exceeds the aggregate of the sum of (i) the Scheduled Principal Balances of all the Mortgage Loans for the following Payment Date and (ii) amounts then on deposit in the Reserve Fund. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates Notes or any reduction in the Class Certificate Balance Principal Amount of a Class of Certificates Notes pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates Notes of such Class Class, pro rata, in proportion to their respective Certificate BalancesNote Principal Amounts. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate Note or any reduction in the Certificate Balance Note Principal Amount of a Certificate, Note pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Balance Note Principal Amount thereof immediately following the distributions payments made on the related Distribution Payment Date in accordance with the definition of "Certificate Balance“Note Principal Amount."”

Allocation of Realized Losses. (a) On or prior to each Determination Date, the beginning Master Servicer shall determine the amount of any Realized Loss in respect of each related Mortgage Loan that occurred during the second Business Day prior to immediately preceding calendar month. (b) On each Distribution Date, the Trustee related PO Percentage of the principal portion of any Realized Loss on a Discount Mortgage Loan and any Class PO Certificate Cash Shortfall shall determine be allocated to the total Class PO Certificates until the Certificate Principal Balance of the Class PO Certificates is reduced to zero. With respect to any Distribution Date through the Credit Support Depletion Date, the aggregate of all amounts so allocable to the Class PO Certificates on such date in respect of any Realized Losses and any Class PO Certificate Cash Shortfalls and all amounts previously allocated in respect of such Realized Losses or Class PO Certificate Cash Shortfalls and not distributed on prior Distribution Dates shall be the “Class PO Certificate Deferred Amount.” To the extent funds are available therefor on any Distribution Date through the Credit Support Depletion Date, distributions in respect of the Class PO Certificate Deferred Amount for the Class PO Certificates shall be made in accordance with priority (5) of clause (A) in Section 6.04(a) above. No interest shall accrue on the Class PO Certificate Deferred Amount. On each Distribution Date through the Credit Support Depletion Date, the Certificate Principal Balance of the lowest ranking Class of Subordinate Certificates then outstanding shall be reduced by the amount of Allocated Underlying any distributions in respect of any Class PO Certificate Deferred Amount on such Distribution Date in accordance with the priorities set forth above, through the operation of the Subordinate Certificate Writedown Amount. After the Credit Support Depletion Date, no more distributions shall be made in respect of, and applicable Realized Losses for such Distribution Date. The Trustee and Class PO Certificate Cash Shortfalls allocable to the Class PO Certificates shall make such determination on not be added to, the basis of amounts on deposit in the Underlying Class PO Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Deferred Amount. (bc) Allocated Underlying The related Non-PO Percentage of the principal portion of Realized Losses (other than Excess Losses) on the Mortgage Loans shall be allocated on any Distribution Date as follows: first, to the Class B-6 Certificates; second, to the Class B-5 Certificates; third, to the Class B-4 Certificates; fourth, to the Class B-3 Certificates; fifth, to the Class B-2 Certificates; and sixth, to the Class B-1 Certificates, in each case until the Certificate Principal Balance of such Class has been reduced to zero. Thereafter, the principal portion of Realized Losses on the Mortgage Loans shall be allocated on any Distribution Date to the outstanding Class or Classes of Senior Certificates (other than the Class III-S and Class X Certificates), pro rata, based upon their respective Certificate Principal Balances. The applicable Non-PO Percentage of the principal portion of any Excess Loss with respect to Mortgage Loans for any Distribution Date shall be allocated to the Classes pro rata among all outstanding classes of Senior Certificates (other than the Class APO, Class III-R S and Class X Certificates) pro rata, based on their respective Certificate Principal Balances.. (d) No reduction of the Certificate Principal Balance of any Class of Certificate Balances, provided that (other than the Class III-S Certificates and Class X Certificates) shall be made on any Allocated Underlying Distribution Date on account of Realized Losses to the extent that such reduction would otherwise have the effect of reducing the aggregate Certificate Principal Balance of all of the Classes of such Certificates (other than the Class III-S Certificates and Class X Certificates) as of such Distribution Date to an amount less than the aggregate Scheduled Principal Balances of the Mortgage Loans as of the related Due Date (the “Loss Allocation Limit.”). (e) All Realized Losses to be allocated to the Certificate Principal Balances of all related Classes 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 A-1 of Certificates will 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 the such Class A-2 of Certificates, until its Class Certificate Balance is reduced to zeroon such Distribution Date. (cf) Any Allocated Underlying All Realized Loss Losses and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above hereunder shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balancesthe Percentage Interests evidenced thereby. (dg) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction In addition, in the Certificate Balance of a Certificateevent that the Servicer receives any Subsequent Recoveries, the Servicer shall deposit such funds into the Distribution Account pursuant to Section 3.06(a) above 5.08. If, after taking into account such Subsequent Recoveries, the amount of a Realized Loss is reduced, the amount of such Subsequent Recoveries shall be accomplished by reducing applied to increase the Certificate Principal Balance thereof immediately following of the distributions made related Class of Subordinate Certificates with the highest payment priority to which Realized Losses have been allocated, but not by more than the amount of Realized Losses previously allocated to that Class of Subordinate Certificates pursuant to this Section 6.05. Holders of Certificates shall not be entitled to any payment in respect of current interest on the related amount of increases described herein for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. Any such increases shall be applied to the Certificate Principal Balance of each related Subordinate Certificate of such Class in accordance with the definition of "Certificate Balanceits respective Percentage Interest."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Certificate Administrator shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, shall be allocated to the Classes Class PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero and to the Class PO-3 Component, if such Realized Loss relates to a Loan Group 3 Mortgage Loan until the Component Balance thereof is reduced to zero; and (1) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the Class AX Certificates and Class PO Components), pro rata on the basis of their respective Class Certificate Balances or, in the case of each Class of Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; and (2) the applicable Non-R CertificatesPO Percentage of any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the Classes of Certificates of the related Senior Certificate Group (other than the Class X Certificates and Class PO Components) and the Subordinated Certificates then outstanding, pro rata, based on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances, provided that or in the case of any Allocated Underlying Realized Losses that would otherwise be allocated Class of Accrual Certificates, on the basis of the lesser of its Class Certificate Balance and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date and, with respect to each Class A-1 Certificates of Subordinated Certificates, the applicable Assumed Balance for each such Class relating to the Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after the second Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates on the basis of their respective Class A-2 Certificate Balances; and provided further that after the Senior Credit Support Depletion Date, such Excess Losses shall be allocated to all Senior Certificates (other than the Class X Certificates and Class PO Components) regardless of Senior Certificate Group on the basis of their respective Class Certificate Balances, or in the case of any Class of Accrual Certificates, until on the basis of the lesser of its Class Certificate Balance is and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Components in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be." (e) [Reserved]

Allocation of Realized Losses. (a) On or All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow; second, to the Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the beginning of the second Business Day prior to each relevant Distribution Date, the Trustee shall determine the total amount before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Allocated Underlying Realized Losses for Certificates, on such Distribution Date. The Trustee Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall make such determination on be made by reducing the basis Certificate Principal Balance thereof by the amount so allocated; any allocation of amounts on deposit Realized Losses to a Class C Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(x). No allocations of any Realized Losses shall be made to the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis Principal Balances of the agreement referred to in Class A Certificates or the last sentence of Section 5.07Class P Certificates. (b) Allocated Underlying All Realized Losses with respect to any Distribution Date 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 Classes of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the Class A-1 Certificates will be allocated REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Class A-2 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM3 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until its Class Certificate the Uncertificated Principal Balance is of REMIC 1 Regular Interest LTM3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM2 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM1 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM1 has been reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (1) any Realized Loss (other than an Excess Loss) in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates related to such Loan Group, pro rata, on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class has been reduced to zero; and (2) any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the Classes of Senior Certificates (other than of the Class A-R Certificates) related Senior Certificate Group and the Subordinated Certificates then outstanding, pro rata, based on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated Balances immediately prior to the related Distribution Date and, with respect to each Class A-1 Certificates of Subordinated Certificates, the applicable Assumed Balance immediately prior to the related Distribution Date for each such Class relating to the Loan Group in which such Excess Loss occurs; provided, however, on any Distribution Date after the second Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Senior Certificates and the Subordinated Certificates on the basis of their respective Class A-2 Certificates, until its Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) or 4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) or 4.04(b) above shall be accomplished by reducing the Certificate Balance thereof thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance"." (e) [Reserved]

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first, to the Classes Subordinated Certificates in reverse order ----- of their respective numerical Class designations, until the respective Class Certificate Balance of each such Class is reduced to zero and second, to the Senior Certificates (other than the ------ Class X-1 and Class X-2 Certificates), pro rata, on the basis of their respective Class Certificate Balances or, in the case of any Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero; (ii) any Excess Losses shall be allocated to the Senior Certificates (other than the Class A-R X-1 and Class X-2 Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of their respective Class Certificate BalancesBalances or, provided that in the case of any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Accrual Certificates, until its on the basis of the lesser of the Class Certificate Balance is and the initial Class Certificate Balance thereof, in each case immediately prior to the related Distribution Date, until the Class Certificate Balances thereof have been reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated to the Classes of Certificates as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class A-R Certificatesof Subordinated Certificates then outstanding with the highest numerical Class designation) pro rata, based on their until the respective Class Certificate BalancesBalance of each such Class is reduced to zero, provided that any Allocated Underlying Realized Losses that would otherwise be allocated second to the Class A-1 Certificates will be allocated to the Class A-2 A-4 Certificates, until its Class Certificate Balance is reduced to zero and third, concurrently, to the Class A-1, Class A-2 and Class A-3 Certificates, pro rata, until their respective Class Certificate Balances are reduced to zero. (B) on each Distribution Date, Excess Losses on the Mortgage Loans shall be allocated pro rata among the Classes of Senior Certificates (other than the Notional Amount Certificates) on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated to the Classes of as follows: (i) [Reserved] (ii) Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise shall be allocated instead to the Class A-1 2-A-2 Certificates will be allocated until its Class Certificate Balance is reduced to zero, (y) any Realized Losses on the Mortgage Loans in Loan Group 4 otherwise allocable to the Class 4-A-1 Certificates shall be allocated instead to the Class 4-A-2 CertificatesCertificates until its Class Certificate Balance is reduced to zero, and (z) any Realized Losses on the Mortgage Loans in Loan Group 5 otherwise allocable to the Class 5-A-1 Certificates shall be allocated instead to the Class 5-A-2 Certificates until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the last day of the Prepayment Period related to such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance, Component Balance thereof or Subordinated Portion thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance," "Component Balance" or "Subordinated Portion," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss shall be allocated to the Classes Class PO Certificates until the Class Certificate Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the Class A-R PO Certificates) ), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of any Allocated Underlying Realized Losses on the Mortgage Loans that would otherwise be allocated to the Class A-1 A-2 Certificates will shall instead be allocated to the Class A-2 Certificates, A-3 Certificates until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components." (e) [Reserved]

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved]; (ii) Any Realized Loss on the Mortgage Loans shall be allocated first, sequentially, to the Class B-3, Class B-2, Class B-1, 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 the respective Class Certificate Balance of each such Class is reduced to zero, second, to the Classes of Senior Certificates (other than or the PO Components thereof in the case of a Class A-R of Component Certificates) , pro rata, based on the basis of their respective Class Certificate Balances or Component Principal Balances, provided as applicable, immediately prior to the related Distribution Date until the respective Class Certificate Balance or Component Principal Balance, as applicable, of each such Class is reduced to zero; provided, however, that any Allocated Underlying Realized Losses that would otherwise be allocated allocable to the Class A-1 A-1, Class A-2 and A-3 Certificates will shall be allocated sequentially, first, to the Class A-3 Certificates until its Class Certificate Balance is reduced to zero, second, to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zero and third, to the Class A-1 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the lowest distribution priority shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Net Deferred Interest and Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the last day of the Due Period related to such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Principal Balance, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Balance” or “Component Principal Balance,” as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine the total amount of Allocated Underlying any Realized Losses for such Distribution Date. The Trustee shall make such determination Loss in respect of each Mortgage Loan that occurred during the immediately preceding calendar month, based solely on the basis of amounts on deposit in reports delivered by the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred Servicer pursuant to in the last sentence of Section 5.07this Agreement. (b) Allocated Underlying The interest portion of Realized Losses with respect shall be allocated to the Certificates as described in Section 1.02 hereof. (c) The principal portion of all Realized Losses on the Mortgage Loans allocated to any REMIC I Regular Interest pursuant to Section 5.05 (d) shall be allocated on each Distribution Date as follows: first, in reduction of the Net Monthly Excess Cashflow; second, to the Class X Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 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 all Classes 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 Classes Certificate Principal Balance of any Class of Certificates (other than shall be to the Certificate Principal Balance of such Class A-R Certificates) pro rataimmediately prior to the relevant Distribution Date, based on their respective Class Certificate Balancesbefore reduction thereof by any Realized Losses, provided that any Allocated Underlying Realized Losses that would otherwise 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 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 A-1 X Certificates will shall be allocated made by reducing the amount otherwise payable in respect thereof pursuant to Section 5.04(a) clause Third. No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Senior Certificates or Class A-2 P Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying . All such Realized Loss Losses and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall hereunder will be allocated among the Certificates of such Class in proportion to their respective Certificate Balancesthe Percentage Interests evidenced thereby. (d) Any allocation The principal portion of Allocated Underlying all Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date first, to REMIC I Regular Interest LTI-1 and REMIC I Regular Interest LTI-P, until the Uncertificated Principal Balances have been reduced to zero and then to REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest LTI-IO-B, REMIC I Regular Interest LTI-IO-C, REMIC I Regular Interest LTI-IO-D, REMIC I Regular Interest LTI-IO-E, REMIC I Regular Interest LTI-IO-F, REMIC I Regular Interest LTI-IO-G and REMIC I Regular Interest LTI-IO-H, until the Uncertificated Principal Balances have been reduced to zero. (e) All Realized Losses on the REMIC I Regular Interests shall be allocated on each Distribution Date to the following REMIC II Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ 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 the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ 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 LTII-AA, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M2 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M1 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M1 has been reduced to zero. (f) Notwithstanding anything to the contrary contained herein, if on any Distribution Date the Securities Administrator discovers, based solely on the reports delivered by the Servicer under this Agreement, that any Subsequent Recoveries have been collected by the Servicer with respect to a Certificate or any reduction in Mortgage Loan, the amount of such Subsequent Recoveries will be applied to increase the Certificate Principal Balance of a Certificatethe Class of Mezzanine Certificates with the highest payment priority to which Realized Losses have been allocated, but not by more than the amount of Realized Losses previously allocated to that Class of Mezzanine Certificates pursuant to this Section 3.06(a) above 5.05. The amount of any remaining Subsequent Recoveries will be applied to sequentially increase the Certificate Principal Balance of the Mezzanine Certificates, beginning with the Class of Mezzanine Certificates with the next highest payment priority, up to the amount of such Realized Losses previously allocated to such Class of Certificates pursuant to this Section 5.05. Holders of such Certificates will 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. Any such increases shall be accomplished by reducing applied to the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date of each Mezzanine Certificate of such Class in accordance with the definition of "Certificate Balanceits respective Percentage Interest."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to a Loan Group and any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on the Group 1 Mortgage Loans, including any Excess Loss, shall be allocated to the Class 1-PO Certificates until its Certificate Balance is reduced to zero; and (ii) (A) (x) the applicable Non-PO Percentage of any Realized Loss (other than any Excess Loss) on the Mortgage Loans in Loan Group 1 and (y) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in Loan Group 2, shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates in the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable, and the Class A1-R PO Certificates) ), pro rata, based rata on the basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero; except that (A) the applicable Non-PO Percentage of any Allocated Underlying Realized Losses on the Group 1 Mortgage Loans that would otherwise be allocated to (i) the Class 1-A-3 Certificates will be allocated to the Class 1-A-6 Certificates, until the Class Certificate Balance of the Class 1-A-6 Certificates is reduced to zero and (ii) the Class 1-A-4 Certificates will be allocated to the Class 1-A-5 Certificates, until the Class Certificate Balance of the Class 1-A-5 Certificates is reduced to zero and (B) any Realized Losses on the Group 2 Mortgage Loans that would otherwise be allocated to the Class 2-A-1 Certificates will be allocated to the Class 2-A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a the Class of 2-A-2 Certificates pursuant is reduced to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."zero;

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses with respect to each class of Deposited Underlying Certificates for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the each Underlying Certificate Account (which Underlying Certificate Account Accounts it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses on the Group 1 Deposited Underlying Certificates with respect to any Distribution Date shall be allocated sequentially, to the Classes of Certificates (other than the Class A1-R A-2 and Class 1-A-1 Certificates) pro rata, based on in that order, until their respective Class Certificate Balances, provided that any Balances are reduced to zero. Allocated Underlying Realized Losses that would otherwise on the Group 2 Deposited Underlying Certificates with respect to any Distribution Date shall be allocated sequentially, to the Class 2-A-2 and Class 2-A-1 Certificates will be allocated to the Class A-2 Certificates, in that order, until its their respective Class Certificate Balance is Balances are reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine aggregate the loan-level information provided by the Servicer with respect to the total amount of Allocated Underlying Realized Losses with respect to the Mortgage Loans for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, Realized Losses with respect to any Distribution Date that occurred during the related prepayment period shall be allocated as follows: (i) first, to the Classes of Certificates Net Monthly Excess Cashflow; (other than the Class A-R Certificatesii) pro ratasecond, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 C Certificate until the Certificate Principal Balance thereof has been reduced to zero; (iii) third, to the Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and (iv) fourth, to the Senior Certificates, pro rata based on Certificate Principal Balance, until the Class Certificate Principal Balance of each such Class is reduced to zero; provided, however, that Realized Losses otherwise allocable to the Class A-2 Certificates will be allocated to the Class A-2 Certificates, A-3 Certificates until its the Certificate Principal Balance of the Class Certificate Balance A-3 Certificates is reduced to zero. (c) The Class Certificate Principal Balance of first, the Class C Certificates and second, the Class of Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved] (A) any Realized Loss (other than an Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates), if applicable, pro rata, on the basis of their respective Class Certificate Balances, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; and (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated among the Classes of Senior Certificates of the related Senior Certificate Group (other than the related Notional Amount Certificates (if any)) and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the applicable Senior Percentage of such Excess Losses shall be allocated among the Classes of Senior Certificates (other than the Class A-R Notional Amount Certificates) in the related Senior Certificate Group pro rata on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the applicable Subordinated Percentage of such Excess Losses shall be allocated among the Classes of Subordinated Certificates pro rata based on each Class' share of the Subordinated Portion related to such Loan Group immediately prior to the related Distribution Date. Each Class of Subordinated Certificates share of the Subordinated Portion for a Loan Group shall be based on the Class Certificate Balance of each Class of Subordinated Certificates; provided, however, on any Distribution Date after the Senior Termination Date, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Senior Certificates and the Subordinated Certificates (other than any Notional Amount Certificates, if applicable) on the basis of their respective Class Certificate Balances immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes of Senior Certificates (other than the Notional Amount Certificates) based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated Balances immediately prior to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its related Distribution Date. (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the Due Date in the month of such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance, Component Balance thereof or Subordinated Portion thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance," "Component Balance" or "Subordinated Portion," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine aggregate the information provided by each Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, including Excess Losses, with respect to the Mortgage Loans for such the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses with respect to any Distribution Date shall be allocated as follows: (i) Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses (other than Excess Losses) shall be allocated: first, to the Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the Senior Certificates, other than the Class X-1 and Class X-2 Certificates, pro rata, until the Class Certificate Principal Balance of each Class of Senior Certificates is reduced to zero; (ii) any Excess Losses on the Mortgage Loans shall be allocated to the Classes of Senior Certificates (other than the Class A-R and Subordinate Certificates) , pro rata, based on their the basis of the respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Principal Balances of such Classes of Senior Certificates will be allocated to the Class A-2 and Subordinate Certificates, until its Class Certificate Balance is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses and Excess Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss, Bankruptcy Loss, Fraud Loss, Special Hazard Loss or Excess Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b4.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a4.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Principal Balance"."

Allocation of Realized Losses. (a) On or All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, as provided in Section 1.03, to the interest accrued on the Class C Certificates after the allocation thereto of certain interest shortfalls as provided in Section 1.03; second, to the Class C Certificates (determined for purposes of this section 4.07 as the amount by which (A) the aggregate Uncertificated Principal Balance of the REMIC 2 Regular Interests immediately preceding such Distribution Date exceed (B) the aggregate Certificate Principal Balances of the Class A Certificates and the Class P Certificates immediately preceding such Distribution Date), until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the beginning of the second Business Day prior to each relevant Distribution Date, the Trustee shall determine the total amount before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Allocated Underlying Realized Losses for Certificates, on such Distribution Date. The Trustee Any allocation of Realized Losses to a Class C Certificate shall make such determination on be made by reducing the basis amount otherwise payable in respect thereof pursuant to Section 4.01(d)(v). No allocations of amounts on deposit in any Realized Losses shall be made to the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis Principal Balances of the agreement referred to in Class A Certificates or the last sentence of Section 5.07Class P Certificates. (b) Allocated Underlying With respect to the REMIC 1 Regular Interests, all Realized Losses with respect to any on the Mortgage Loans shall be allocated shall be allocated on each Distribution Date first, to REMIC 1 Regular Interest I until the Uncertificated Principal Balance has been reduced to zero, and second, to REMIC 1 Regular Interest I-1-A through REMIC 1 Regular Interest I-20-B, starting with the lowest numerical denomination until such REMIC 1 Regular Interest has been reduced to zero, provided that, for REMIC 1 Regular Interests with the same numerical denomination, such Realized Losses shall be allocated pro rata between such REMIC 1 Regular Interests. The REMIC 2 Marker Allocation Percentage of all Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to the following REMIC 2 Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest LTAA and REMIC 2 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; and second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT-AA and REMIC 2 Regular Interest LT-ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively. The REMIC 2 SC Allocation Percentage of all Realized Losses on the Mortgage Loans shall be applied after all distributions have been made on each Distribution Date first, so as to keep the Uncertificated Principal Balance of REMIC 2 Regular Interest LT-SC and REMIC 2 Regular Interest LT-NSC equal to 0.01% of the Certificate Principal Balance of the related Corresponding Certificates second, any remaining Realized Losses shall be allocated to the Classes of Certificates (other than the Class AREMIC 2 Regular Interest LT-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zeroXX. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes and Component of Senior Certificates of the related Senior Certificate Group as follows: (1) any Realized Losses, other than Excess Losses, on the Group 1 Mortgage Loans will be allocated, sequentially, to the Class AC-R M-1 Component and Class 1-A-1 Certificates, in that order, until the Component Balance and Class Certificate Balance thereof are reduced to zero; and (2) any Realized Losses, other than Excess Losses, on the Group 2 Mortgage Loans will be allocated sequentially, to the Class C-M-2 Component and Class 2-A-1 Certificates, in that order, until the Component Balance and Class Certificate Balance thereof are reduced to zero; and (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated pro rata among the Classes and Component of Senior Certificates of the related Senior Certificate Group and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the Senior Percentage of such Excess Losses shall be allocated among the Classes and Componet of Senior Certificates in the related Senior Certificate Group, pro rata, on the basis of their respective Class Certificate Balances and Component Balance immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the Subordinated Percentage of such Excess Loss shall be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class' share of the Assumed Balance of the related Loan Group immediately prior to the related Distribution Date; provided, however, on any Distribution Date after a Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Senior Certificates and the Subordinated Certificates on the basis of their respective Class Certificate Balances or Component Balance, as applicable, immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes and Component of Senior Certificates based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated Balances and Component Balance immediately prior to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its related Distribution Date. (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine aggregate the loan-level information provided by the Servicer with respect to the total amount of Allocated Underlying Realized Losses with respect to the Mortgage Loans for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, Realized Losses with respect to any Distribution Date that occurred during the related prepayment period shall be allocated in the following order: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates (other than with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the Class A and Class A-R Certificates) , pro rata, based on their respective until the Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Principal Balance of each such Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.04(c) above shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.04(c) above shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying Realized Losses with respect to shall be allocated on any Distribution Date shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Principal Balance of each such Class is reduced to zero; and second, to the Senior Certificates (other than the Class A-R X Certificates) ), pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to until the Class A-1 Certificates will be allocated to the Principal Balance of each such Class A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) The Class Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, on a Mortgage Loan in a Loan Group shall be allocated to the Classes related Class PO Component, until the Component Balance thereof is reduced to zero; and (ii) (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class A-R Certificates) PO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their Class Certificate Balance or Component Balance, as applicable, and their initial Class Certificate Balance or Component Balance, as applicable, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero; provided, that (i) any Allocated Underlying Realized Losses that would (other than an Excess Loss) on the Mortgage Loans in Loan Group 1 otherwise be allocable to the Class 1-A-8-1 and Class 1-A-8-3 Components shall be allocated to the Class A-1 Certificates will be allocated to the Class A-2 1-A-14 Certificates, until its Class Certificate Balance is reduced to zero. zero and (cii) Any Allocated Underlying any Realized Loss allocated Losses (other than an Excess Loss) on the Mortgage Loans in Loan Group 3 otherwise be allocable to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of 3-A-5 Certificates pursuant to Section 3.06(b) above shall be allocated among to the Certificates of such Class in proportion 3-A-4 Certificates, until its Class Certificate Balances is reduced to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."zero; and

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved]; (ii) Any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first, to the Classes Subordinated Certificates, in reverse order of their respective distribution priorities (beginning with the Subordinated Certificates (other than then outstanding with the lowest distribution priority) until the respective Class A-R Certificate Balance of each such Class is reduced to zero, and second, to the Senior Certificates of the related Senior Certificate Group or the PO Components thereof in the case of a Class of Component Certificates) , pro rata, based on the basis of their respective Class Certificate Balances or Component Principal Balances, provided that as applicable, immediately prior to the related Distribution Date until the respective Class Certificate Balance or Component Principal Balance, as applicable, of each such Class is reduced to zero; provided, however, (i) any Allocated Underlying Realized Losses that would otherwise be allocated in Loan Group 1 allocable to the Class 1-A-1 Certificates will be allocated to the Class 1-A-2 Certificates, until its Class Certificate Balance is reduced to zero; and (ii) any Realized Losses in Loan Group 2 allocable to the Class 2-A-1A, Class 2-A-1B and Class 2-A-2 Certificates will be allocated proportionately to the Class 2-A-3 Certificates until its Class Certificate Balance is reduced to zero and thereafter any Realized Losses otherwise allocable to the Class 2-A-1A and Class 2-A-1B Certificates will be allocated to the Class 2-A-2 Certificates, until its Class Certificate Balance is reduced to zero. For the avoidance of doubt, the Class M-1 Certificates have a higher distribution priority than each other Class of Subordinated Certificates. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the lowest distribution priority shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Net Deferred Interest and Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the last day of the Due Period related to such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Principal Balance, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Principal Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07.[Reserved] (b) Allocated Underlying On and after the Remittance Date on which the Pool Available Maximum Subordinated Amount has been reduced to zero, (i) no further Interest Shortfall Carryforward Amounts or Unpaid Realized Loss Amounts for the Class M or Class B Certificates, respectively, shall be carried forward to succeeding Remittance Dates or be created as a result of shortfalls in the Pool Available Remittance Amount, and (ii) interest shall cease to accrue on all Interest Shortfall Carryforward Amounts remaining outstanding at the time the Pool Available Maximum Subordinated Amount becomes zero. If on any Remittance Date after taking into account all Realized Losses experienced during the prior Due Period and after taking into account the distribution of principal (including the applicable Pool Accelerated Principal Distribution Amount), but excluding distributions pursuant to Section 6.08(e), with respect to any Distribution Date shall be allocated to the Classes Certificates on such Remittance Date, the aggregate Class Principal Balance of the Certificates (other than exceeds the aggregate Principal Balance of the Mortgage Loans, as of the end of the related Due Period, then the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to Principal Balance of the Class A-1 Certificates M and/or Class B Certificates, as applicable, will be allocated to reduced (in effect, "written down") such that the level of the Spread Amount is zero, rather than negative. The resulting Pool Applied Realized Loss Amount for the applicable Class will be applied as a reduction in the Class A-2 CertificatesPrincipal Balance of the related Class M and/or Class B Certificates in reverse order of seniority, i.e., first against the Class BH Class Principal Balance until its Class Certificate Balance it is reduced to zero. (c) Any Allocated Underlying , then against the Class MH-2 Class Principal Balance until it is reduced to zero, and then against the Class MH-1 Class Principal Balance until it is reduced to zero. However, if a payment is made pursuant to Section 6.08(e)(ii)(b), the Pool Applied Realized Loss allocated to a Amount that would otherwise reduce the Class Principal Balance of the related Class of Certificates or any reduction in will be offset by the amount of such payment. In no event shall the Class Principal Balance of any Class A Certificate be written down as a result of applying Realized Losses. Once the Class Principal Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among Class M and/or Class B Certificates, as applicable, has been "written down," the Certificates amount of such write down will no longer bear interest, nor will such amount thereafter be "reinstated" or "written up," although the amount of such write down may, on future Remittance Dates, be paid to Holders of the Class M and/or Class B Certificates which experienced the write down, in proportion to their respective Certificate Balances. (d) Any allocation direct order of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance seniority as distributions on account of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate BalanceClass MH-1, Class MH-2 or Class BH Realized Loss Amounts, as applicable."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates of the related Senior Certificate Group as follows: (1) any Realized Losses, other than Excess Losses, on the Group 1 Mortgage Loans will be allocated, sequentially, to the Class AC-R M-1 Component and Class 1-A-1 Certificates, in that order, until the Component Balance and Class Certificate Balance thereof are reduced to zero; and (2) any Realized Losses, other than Excess Losses, on the Group 2 Mortgage Loans will be allocated sequentially, to the Class C-M-2 Component and Class 2-A-1 Certificates, in that order, until the Component Balance and Class Certificate Balance thereof are reduced to zero. (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated pro rata among the Classes of Senior Certificates of the related Senior Certificate Group and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the Senior Percentage of such Excess Losses shall be allocated among the Classes and Component of Senior Certificates in the related Senior Certificate Group, pro rata, on the basis of their respective Class Certificate Balances and Component Balance immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the Subordinated Percentage of such Excess Loss shall be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class' share of the Assumed Balance of the related Loan Group immediately prior to the related Distribution Date; provided, however, on any Distribution Date after a Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Classes and Components of the Senior Certificates and the Subordinated Certificates on the basis of their respective Class Certificate Balances or Component Balance, as applicable, immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes and Component of Senior Certificates based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated Balances and Component Balance immediately prior to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its related Distribution Date. (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine the total amount of Allocated Underlying any Realized Losses for such Distribution Date. The Trustee shall make such determination Loss in respect of each Mortgage Loan that occurred during the immediately preceding calendar month, based solely on the basis of amounts on deposit in reports delivered by the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred Servicer pursuant to in the last sentence of Section 5.07this Agreement. (b) Allocated Underlying The interest portion of Realized Losses with respect shall be allocated to the Certificates as described in Section 1.02 hereof. (c) The principal portion of all Realized Losses on the Mortgage Loans allocated to any REMIC II Regular Interest pursuant to Section 5.05 (d) shall be allocated on each Distribution Date as follows: first, in reduction of the Net Monthly Excess Cashflow; second, to the Class X Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 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 all Classes 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 Classes Certificate Principal Balance of any Class of Certificates (other than shall be to the Certificate Principal Balance of such Class A-R Certificates) pro rataimmediately prior to the relevant Distribution Date, based on their respective Class Certificate Balancesbefore reduction thereof by any Realized Losses, provided that any Allocated Underlying Realized Losses that would otherwise 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 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 A-1 X Certificates will shall be allocated made by reducing the amount otherwise payable in respect thereof pursuant to Section 5.04(a) clause Third. No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Senior Certificates or Class A-2 P Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying . All such Realized Loss Losses and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall hereunder will be allocated among the Certificates of such Class in proportion to their respective Certificate Balancesthe Percentage Interests evidenced thereby. (d) Any allocation The principal portion of Allocated Underlying all Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date first, to REMIC I Regular Interest LTI-1, until the Uncertificated Principal Balance has been reduced to zero and then to REMIC I Regular Interest LTI-IO-A, REMIC I Regular Interest LTI-IO-B, REMIC I Regular Interest LTI-IO-C, REMIC I Regular Interest LTI-IO-D, REMIC I Regular Interest LTI-IO-E, REMIC I Regular Interest LTI-IO-F, REMIC I Regular Interest LTI-IO-G and REMIC I Regular Interest LTI-IO-H, until the Uncertificated Principal Balances have been reduced to zero. (e) All Realized Losses on the REMIC I Regular Interests shall be allocated on each Distribution Date to the following REMIC II Regular Interests in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ 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 the REMIC II Regular Interest LTII-AA and REMIC II Regular Interest LTII-ZZ 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 LTII-AA, REMIC II Regular Interest LTII-M3 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M2 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC II Regular Interest LTII-AA, REMIC II Regular Interest LTII-M1 and REMIC II Regular Interest LTII-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC II Regular Interest LTII-M1 has been reduced to zero. (f) Notwithstanding anything to the contrary contained herein, if on any Distribution Date the Securities Administrator discovers, based solely on the reports delivered by the Servicer under this Agreement, that any Subsequent Recoveries have been collected by the Servicer with respect to a Certificate or any reduction in Mortgage Loan, the amount of such Subsequent Recoveries will be applied to increase the Certificate Principal Balance of a Certificatethe Class of Mezzanine Certificates with the highest payment priority to which Realized Losses have been allocated, but not by more than the amount of Realized Losses previously allocated to that Class of Mezzanine Certificates pursuant to this Section 3.06(a) above 5.05. The amount of any remaining Subsequent Recoveries will be applied to sequentially increase the Certificate Principal Balance of the Mezzanine Certificates, beginning with the Class of Mezzanine Certificates with the next highest payment priority, up to the amount of such Realized Losses previously allocated to such Class of Certificates pursuant to this Section 5.05. Holders of such Certificates will 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. Any such increases shall be accomplished by reducing applied to the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date of each Mezzanine Certificate of such Class in accordance with the definition of "Certificate Balanceits respective Percentage Interest."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than any other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on a Mortgage Loan in a Loan Group, shall be allocated to the related Class PO Certificates, until the respective Class Certificate Balance or Component Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable, and the related Class A-R PO Certificates) ), pro rata, based on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of its respective Class Certificate Balance or Component Balance, as applicable, and its respective initial Class Certificate Balance or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of any Allocated Underlying Realized Losses that would on the Mortgage Loans in Loan Group 1 otherwise allocable to the Class 1-A-6 Certificates will instead be allocated to the Class 1-A-7 Certificates, until its Class Certificate Balance is reduced to zero and the Non-PO Percentage of any Realized Losses on the Mortgage Loans in Loan Group 2 otherwise allocable to the Class 2-A-1 Certificates will instead be allocated to the Class A-2 2-A-3 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, shall be allocated to the Classes Class PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero: to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero and to the Class PO-3 Component, if such Realized Loss relates to a Loan Group 3 Mortgage Loan until the Component Balance thereof is reduced to zero; and (1) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the related Class A-R Certificates) X Certificates and the related Class PO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of each Class of Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; provided, however, that any Allocated Underlying Realized Losses that Loss (other than an Excess Loss) which would otherwise be allocated to the Class A-1 1-A-5 Certificates will instead be allocated to the Class 1-A-16 Certificates, until the Class Certificate Balance of the Class 1-A-16 Certificates is reduced to zero; and (2) the applicable Non-PO Percentage of any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the Classes of Certificates of the related Senior Certificate Group (other than the related Class X Certificates and the related Class PO Component) and the Subordinated Certificates then outstanding, pro rata, on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances, or in the case of any Class of Accrual Certificates, on the basis of the lesser of its Class Certificate Balance and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date and, with respect to each Class of Subordinated Certificates, the applicable Assumed Balance for each such Class relating to the Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after the second Senior Termination Date, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates on the basis of their respective Class A-2 Certificates, until its Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be." (e) [Reserved]

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Master Servicer shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates in the Certificate Group related to the Loan Group that experienced such Realized Loss (other than the Notional Amount Certificates), pro rata on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date until the Class Certificate Balances thereof have been reduced to zero; (ii) any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the related Senior Certificates (other than the Class A-R Notional Amount Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of, with respect to such Senior Certificates, their respective Class Certificate BalancesBalances and, provided that any Allocated Underlying Realized Losses that would otherwise be allocated with respect to each Class of Subordinated Certificates, the applicable Assumed Balance for each such Class relating to the Class A-1 Certificates Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after a Senior Termination Date for a Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates on the basis of their respective Class A-2 Certificate Balances and to the remaining Senior Certificates, until its . (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.03(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.03(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (ii) (A) any Realized Loss (other than any Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates (other than the Class A-R Certificates) X IO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances and Component Principal Balance, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Principal Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on the Mortgage Loans that would otherwise be allocated to the Class A-1 A-2 and Class A-4 Certificates will instead be allocated to the Class A-2 A-3 and Class A-5 Certificates, respectively, until its their respective Class Certificate Balance is Balances are reduced to zero. (iii) any Excess Losses on the Mortgage Loans shall be allocated to the Classes of Senior Certificates (other than the Notional Amount Certificates) and the Classes of Subordinated Certificates as follows: (iv) the Senior Percentage of such Excess Losses will be allocated among the Classes of Senior Certificates and the Class A-X PO Component, pro rata based on their Class Certificate Balances or Component Principal Balance, (v) the applicable Subordinated Percentage of such Excess Losses will be allocated among the Classes of Subordinated Certificates pro rata based on their Class Certificate Balance. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates (other than of the Class A-R Certificates) related Senior Certificate Group, pro rata, based rata on the basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on the Group 1 Mortgage Loans that would otherwise be allocated to the Class 1-A-1 Certificates will instead be allocated to the Class 1-A-2 Certificates, Certificates until its Class Certificate Balance is reduced to zero and any Realized Losses other than Excess Losses on the Group 2 Mortgage Loans that would otherwise be allocated to the Class2-A-1 Certificates will instead be allocated to the Class 2-A-2 Certificates until its Class Certificate Balance is reduced to zero. (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated pro rata among the Classes of Senior Certificates of the related Senior Certificate Group and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the Senior Percentage of such Excess Losses shall be allocated among the Classes of Senior Certificates in the related Senior Certificate Group, pro rata, on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the Subordinated Percentage of such Excess Loss shall be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class’ share of the Assumed Balance of the related Loan Group immediately prior to the related Distribution Date; provided, however, on any Distribution Date after the second Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Senior Certificates and the Subordinated Certificates on the basis of their respective Class Certificate Balances immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes of Senior Certificates based on their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss shall be allocated to the Classes Class PO Certificates until the Class Certificate Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the Class A-R PO Certificates) ), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, that the Non-PO Percentage of any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 A-1, Class A-5 and Class A-6 Certificates will instead be allocated to the Class A-2 A-7 Certificates, until its Class Certificate Balance is reduced to zero.. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the sum of the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Supplemental Loan Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated to as follows: (i) the Classes applicable PO Percentage of Certificates (other than the Class A-R Certificates) pro rataany Realized Loss, based on their respective Class Certificate Balancesincluding any Excess Loss, provided that any Allocated Underlying Realized Losses that would otherwise shall be allocated to the Class A-1 PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero, to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero, to the Class PO-3 Component, if such Realized Loss relates to a Loan Group 3 Mortgage Loan until the Component Balance thereof is reduced to zero and to the Class PO-4 Component, if such Realized Loss relates to a Loan Group 4 Mortgage Loan until the Component Balance thereof is reduced to zero; and (ii) (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates will in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class PO Component), pro rata on the basis of their respective Class Certificate Balances or, in the case of any Class of Accrual Certificates or Accrual Components, on the basis of the lesser of their respective Class Certificate Balances or Component Balances, as applicable, and their respective initial Class Certificate Balances or Component Balances, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balances or Component Balances of each such Class or Component are reduced to zero; provided that any Realized Losses (other than an Excess Loss) on the Mortgage Loans in Loan Group 2 otherwise allocable to the Class 2-A-12 Certificates shall be allocated to the Class A-2 2-A-13 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."; and

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first, to the Classes Subordinated Certificates in reverse ----- order of their respective numerical Class designations, until the respective Class Certificate Balance of each such Class is reduced to zero and second, to the Senior Certificates (other ------ than the Class X-1 and Class X-2 Certificates), pro rata, on the basis of their respective Class Certificate Balances or, in the case of any Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero; (ii) any Excess Losses shall be allocated to the Senior Certificates (other than the Class A-R X-1 and Class X-2 Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of their respective Class Certificate BalancesBalances or, provided that in the case of any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Accrual Certificates, until its on the basis of the lesser of the Class Certificate Balance is and the initial Class Certificate Balance thereof, in each case immediately prior to the related Distribution Date, until the Class Certificate Balances thereof have been reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine allocate, based on information received from the Servicer, the total amount of Allocated Underlying Realized Losses for such with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates of the related Senior Certificate Group (other than the Class A-R Notional Amount Certificates) pro rataas follows: (1) any Realized Losses on the Group 1 Mortgage Loans will be allocated, based on sequentially, to the Class 1-A-2 Certificates and the Class A-1-1 Component, in that order, until their respective Class Certificate Balances, provided that Balance and Component Balance are reduced to zero; (2) any Allocated Underlying Realized Losses that would otherwise on the Group 2 Mortgage Loans will be allocated allocated, sequentially, to the Class A-1 2-A-2 Certificates and the Class A-1-2 Component, in that order, until their respective Class Certificate Balance and Component Balance are reduced to zero; and (3) any Realized Losses on the Group 3 Mortgage Loans will be allocated sequentially, to the Class A-2 Certificates3-A-1 Certificates and Class A-1-3 Component, in that order, until its their respective Class Certificate Balance is and Component Balance are reduced to zero. (B) [reserved]. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) 77 exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance or Component Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances or Component Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance or Component Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance or Component Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Payment Date, the Trustee shall determine aggregate the information provided by each Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, including Excess Losses, with respect to the Mortgage Loans for such Distribution the related Payment Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying On each Payment Date, Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses with respect to such Payment Date shall be allocated as follows: (1) Realized Losses, Bankruptcy Losses, Fraud Losses and Special Hazard Losses (other than Excess Losses) shall be allocated: first, to the Subordinate Bonds in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Bonds with the highest numerical Class designation) until the Class Principal Amount of each such Class is reduced to zero; and second, to the Senior Bonds, pro rata, until the Class Principal Amount of each Class of Senior Bonds is reduced to zero; (2) any Distribution Date Excess Losses on the Mortgage Loans shall be allocated to the Classes of Certificates (other than the Class A-R Certificates) Senior Bonds and Subordinate Bond, pro rata, based on the basis of their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zeroPrincipal Amounts. (c) Any Allocated Underlying Realized Loss allocated to a The Class Principal Amounts of the Class of Certificates or any reduction in Subordinate Bonds then outstanding with the highest numerical Class designation shall be reduced on each Payment Date by the amount, if any, by which the aggregate of the Class Certificate Balance Principal Amounts of a Class all outstanding Classes of Certificates pursuant Bonds (after giving effect to Section 3.06(b) above shall be allocated among the Certificates distribution of such Class in proportion to their respective Certificate Balances. (d) Any principal and the allocation of Allocated Underlying Realized Losses, Bankruptcy Losses, Fraud Losses to a Certificate or any reduction in and Special Hazard Losses and Excess Losses on such Payment Date) exceeds the Certificate Balance aggregate of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately Stated Principal Balances of all the Mortgage Loans for the following the distributions made on the related Distribution Date in accordance with the definition of "Certificate BalancePayment Date."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans in each Mortgage Loan Group for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying Realized Losses with respect to each Mortgage Loan Group shall be allocated on any Distribution Date shall as follows: first, to the Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Principal Amount of each such Class is reduced to zero; and second, (A) with respect to Mortgage Loan Group 1, to the Class A-1 and Class R Certificates, pro rata, until the Class Principal Amount of each such Class is reduced to zero; and (B) with respect to Mortgage Loan Group 2, to the Class A-2A, Class A-2B and Class A-2C Certificates, until the Class Principal Amount of each such Class is reduced to zero; provided, however, the amount of any Realized Losses to be so allocated to the Classes of Class A-2B Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise shall instead be allocated to the Class A-1 A-2C Certificates will be allocated to until the Class A-2 Certificates, until its Principal Amount of the Class Certificate Balance is A-2C Certificates has been reduced to zero. (c) The Class Principal Amount of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Principal Amounts of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Scheduled Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance Principal Amount of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate BalancesPrincipal Amounts. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance Principal Amount of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Balance Principal Amount thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate BalancePrincipal Amount."”

Allocation of Realized Losses. (a) On or All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow; second, to the Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-3 Certificates, until the Certificate Principal Balance thereof has been reduced to zero, fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the beginning of the second Business Day prior to each relevant Distribution Date, the Trustee shall determine the total amount before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Allocated Underlying Realized Losses for Certificates, on such Distribution Date. The Trustee Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall make such determination on be made by reducing the basis Certificate Principal Balance thereof by the amount so allocated; any allocation of amounts on deposit Realized Losses to a Class C Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(x). No allocations of any Realized Losses shall be made to the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis Principal Balances of the agreement referred to in Class A Certificates or the last sentence of Section 5.07Class P Certificates. (b) Allocated Underlying All Realized Losses on the Mortgage Loans shall be deemed to have been allocated in the specified percentages, as follows: (i) with respect to any Distribution Date shall be allocated Realized Losses on the Group I Mortgage Loans, first, to Uncertificated Accrued Interest payable to the Classes REMIC 1 Regular Interest LT1AA and REMIC 1 Regular Interest LT1ZZ up to an aggregate amount equal to the REMIC 1 Group I Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of Certificates REMIC 1 Regular Interest LT1AA and REMIC 1 Regular Interest LT1ZZ up to an aggregate amount equal to the REMIC 1 Group I Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1AA, REMIC 1 Regular Interest LT1M3 and REMIC 1 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1M3 has been reduced to zero; and fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1AA, REMIC 1 Regular Interest LT1M2 and REMIC 1 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1M2 has been reduced to zero and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1AA, REMIC 1 Regular Interest LT1M1 and REMIC 1 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1M1 has been reduced to zero and (other than the Class A-R Certificatesii) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying with respect to Realized Losses that would otherwise be allocated on the Group II Mortgage Loans, first, to Uncertificated Accrued Interest payable to the Class A-1 Certificates will be allocated REMIC 1 Regular Interest LT2AA and REMIC 1 Regular Interest LT2ZZ up to an aggregate amount equal to the Class A-2 CertificatesREMIC 1 Group II Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT2AA and REMIC 1 Regular Interest LT2ZZ up to an aggregate amount equal to the REMIC 1 Group II Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT2AA, REMIC 1 Regular Interest LT2M3 and REMIC 1 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until its Class Certificate the Uncertificated Principal Balance is of REMIC 1 Regular Interest LT2M3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT2AA, REMIC 1 Regular Interest LT2M2 and REMIC 1 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT2M2 has been reduced to zero and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT2AA, REMIC 1 Regular Interest LT2M1 and REMIC 1 Regular Interest LT2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT2M1 has been reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved]; (ii) Any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first, to the Classes Subordinated Certificates, in reverse order of their respective numerical Class designations (beginning with the Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second, to the Senior Certificates of the related Senior Certificate Group (other than the Class A-R any Notional Amount Certificates) , if applicable), pro rata, based on the basis of their respective Class Certificate BalancesBalances immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is reduced to zero; provided, provided that however, (i) any Allocated Underlying Realized Losses in Loan Group 1 that would otherwise be allocated to the Class 1-A-1 Certificates will instead be allocated concurrently to the Class 1-A-2A, Class 1-A-2B and Class 1-A-2C Certificates, pro rata, until their respective Class Certificate Balances are reduced to zero; and (ii) any Realized Losses in Loan Group 2 that would otherwise be allocated to the Class 2-A-2 and Class 2-A-3 Certificates will be allocated to the Class A-2 Certificates, 2-A-3 Certificates until its Class Certificate Balance is reduced to zero. For purposes of allocating losses to the Subordinated Certificates, the Class M Certificates will be considered to have a lower numerical class designation than each other class of Subordinated Certificates. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the last day of the Due Period related to such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance, Component Principal Balance thereof or Subordinated Portion thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance", "Component Principal Balance," or "Subordinated Portion," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, on a Mortgage Loan in a Loan Group shall be allocated to the Classes related Class PO Component, until the Component Balance thereof is reduced to zero; and (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the related Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class A-R Certificates) PO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balance or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class is reduced to zero; provided, that any Allocated Underlying Realized Losses that would (other than an Excess Loss) on the Mortgage Loans in Loan Group 3 otherwise allocable to the Class 3-A-2 Certificates shall be allocated to the Class A-1 Certificates will be allocated to the Class A-2 3-A-3 Certificates, until its Class Certificate Balance is reduced to zero; and (B) the applicable Non-PO Percentage of any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the Classes of Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable, and the related Class PO Component) and the Subordinated Certificates then outstanding, pro rata, on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances, or in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance, as applicable, and their respective initial Class Certificate Balances or their respective Component Balance or their respective initial Component Balance, as applicable, in each case immediately prior to the related Distribution Date , until the respective Class Certificate Balance or Component Balance of each such Class is reduced to zero; and, with respect to each Class of Subordinated Certificates, the applicable Assumed Balance for each such Class relating to the Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after the a Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates on the basis of their respective Class Certificate Balances; and provided further that after the Senior Credit Support Depletion Date, such Excess Losses shall be allocated, pro rata, among all Classes and Components of Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class PO Component) regardless of Senior Certificate Group on the basis of their respective initial Class Certificate Balances or Component Balances, as applicable, or in the case of any or in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balance and their respective initial Class Certificate Balance or their respective Component Balance or their respective initial Component Balance, as the case may be, in each case immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the sum of the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Supplemental Loan Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses or Excess Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine allocate, based on information received from the Servicer, the total amount of Allocated Underlying Realized Losses for such with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates of the related Senior Certificate Group (other than the Class A-R Notional Amount Certificates) pro rataas follows: (1) any Realized Losses on the Group 1 Mortgage Loans will be allocated, based on sequentially, to the Class 1-A-2 Certificates and the Class A-1-1 Component, in that order, until their respective Class Certificate Balances, provided that Balance and Component Balance are reduced to zero; (2) any Allocated Underlying Realized Losses that would otherwise on the Group 2 Mortgage Loans will be allocated allocated, sequentially, to the Class A-1 2-A-2 Certificates and the Class A-1-2 Component, in that order, until their respective Class Certificate Balance and Component Balance are reduced to zero; and (3) any Realized Losses on the Group 3 Mortgage Loans will be allocated sequentially, to the Class A-2 Certificates3-A-1 Certificates and Class A-1-3 Component, in that order, until its their respective Class Certificate Balance is and Component Balance are reduced to zero. (B) [reserved]. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance or Component Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances or Component Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance or Component Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance or Component Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior Prior to each Distribution Date, the Trustee Master Servicer, based solely on the information provided by the related Servicer, shall determine the total amount of Allocated Underlying Realized Losses, if any, with respect to each Loan. Realized Losses on the Loans for any Distribution Date will first, cause a reduction in Net Monthly Excess Cash Flow for that Distribution Date, second, reduce any available Net Certificate Swap Provider Payments from the Certificate Swap Provider for that Distribution Date, and third cause a reduction in the Certificate Principal Balance of the Class CE Certificates for that Distribution Date, until the Certificate Principal Balance thereof has been reduced to zero. To the extent that Realized Losses on a Distribution Date cause the aggregate Certificate Principal Balance of the Class A Certificates, Class M and Class P Certificates, after taking into account all distributions on such Distribution Date. The Trustee shall make such determination on , to exceed the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis aggregate Principal Balance of the agreement referred to in Loans as of the last sentence day of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall the related Due Period, such excess will be allocated to the Classes of Certificates (other than the Class A-R Certificates) pro ratafirst, based on their respective Class Certificate Balancessequentially, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated ▇-▇, ▇▇▇▇▇ ▇-▇, Class M-5, Class M-4, Class M-3, Class M-2 and Class M-1 Certificates, in that order, second, to the Class A-3 Certificates, third, to the Class A-2 Certificates, and fourth, concurrently, to the Class A-1A and Class A-1B Certificates, pro rata based on Certificate Principal Balance, in each case until its the Certificate Principal Balance of such Class Certificate Balance of Certificates is reduced to zero. (c) Any Allocated Underlying . In addition, to the extent the related Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to reduce the Certificate Principal Balance of any Class of Certificates on any Distribution Date. Any allocation of Realized Losses to a Class A Certificate or Class M Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made. Any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(h). No allocations of Realized Losses shall be made to the Class P Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Class A Certificate or Class M Certificate be reduced more than once in respect of any particular amount both (i) allocable to such Class A Certificate or Class M Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of such Certificate from Net Monthly Excess Cashflow and amounts on deposit in the Certificate Swap Account. As used herein, any allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates means an allocation on a pro rata basis, among the various Classes so specified, to each such Class of Certificates on the basis of their then outstanding Certificate Principal Balances prior to giving effect to distributions to be made on such Distribution Date. All Realized Losses and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall hereunder will be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) the Percentage Interests evidenced thereby. Any allocation Subsequent Recoveries collected by the Servicers will be distributed as part of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Available Distribution Date Amount in accordance with the definition priorities described under Section 4.1. In addition, the Certificate Principal Balance of "each Class of Certificates that has been reduced by the allocation of a Realized Loss to such Certificate Balancewill be increased, (a) first, concurrently, the Class A-1A and Class A-1B Certificates, pro rata based on their respective Allocated Realized Loss Amount, (b) second, the Class A-2 Certificates, (c) third, the Class A-3 Certificates, and (d) fourth, and in order of seniority with respect to the Class M Certificates, by the amount of such Subsequent Recoveries, but only to the extent that such Certificate has not been reimbursed for the amount of such Realized Loss (or a portion thereof) allocated to such Certificate from Net Monthly Excess Cashflow or from amounts on deposit in the Certificate Swap Account. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses with respect to Loans made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate."

Allocation of Realized Losses. (a) On or prior All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow; second, to the beginning of Class C Certificates, until the second Business Day prior Certificate Principal Balance thereof has been reduced to each Distribution Datezero; third, to the Trustee shall determine Class M-3 Certificates, until the total amount of Allocated Underlying Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses for such Distribution Date. The Trustee shall make such determination to be allocated to the Certificate Principal Balances of all Classes on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to 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 Classes Certificate Principal Balance of any Class of Certificates (other than shall be to the Certificate Principal Balance of such Class A-R Certificates) pro rataimmediately prior to the relevant Distribution Date, based on their respective Class Certificate Balancesbefore reduction thereof by any Realized Losses, provided that any Allocated Underlying Realized Losses that would otherwise in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to 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 C Certificates shall be made first by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(ix). No allocations of any Realized Losses shall be made to the Certificate Principal Balances of the Senior Certificates or the Class A-1 Certificates will P Certificates. 99 (i) The REMIC 1 Marker Allocation Percentage of 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 Class A-2 CertificatesREMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA and REMIC 1 Regular Interest LTZZ up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM3 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until its Class Certificate the Uncertificated Principal Balance is of REMIC 1 Regular Interest LTM3 has been reduced to zero; fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM2 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LTAA, REMIC 1 Regular Interest LTM1 and REMIC 1 Regular Interest LTZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LTM1 has been reduced to zero. (cii) Any Allocated Underlying The REMIC 1 Sub WAC Allocation Percentage of all Realized Loss allocated Losses shall be applied after all distributions have been made on each Distribution Date first, so as to a Class keep the Uncertificated Principal Balance of Certificates or any reduction each REMIC 1 Regular Interest ending with the designation "GRP" equal to 0.01% of the aggregate Principal Balance of the Mortgage Loans in the Class Certificate related Loan Group; second, to each REMIC 1 Regular Interest ending with the designation "SUB," so that the Uncertificated Principal Balance of each such REMIC 1 Regular Interest is equal to 0.01% of the excess of (x) the aggregate 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 Class larger number than in the preceding distribution period, the least amount of Certificates pursuant Realized Losses shall be applied to Section 3.06(b) above such REMIC 1 Regular Interests such that the REMIC 1 Subordinated Balance Ratio is maintained); and third, any remaining Realized Losses shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."REMIC 1 Regular Interest LTXX. 100

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, on a Mortgage Loan in a Loan Group shall be allocated to the Classes related Class PO Component, until the Component Balance thereof is reduced to zero; and (ii) (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the related Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class A-R Certificates) PO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balance or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, that any Allocated Underlying Realized Losses in Loan Group 2 that would otherwise be allocated to the Class A-1 2-A-4 Certificates will instead be allocated to the Class 2-A-9 Certificates, until its Class Certificate Balance is reduced to zero, and the applicable Non-PO Percentage of any Realized Losses in Loan Group 5 that would otherwise be allocated to the Class 5-A-1 Certificates will instead be allocated to the Class 5-A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."; and

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M-1 Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than any other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on a Mortgage Loan in a Loan Group shall be allocated to the Classes related Class PO Component, until the Component Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero and second with respect to Realized Losses on the Mortgage Loans in each Loan Group, to the related Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class A-R Certificates) PO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balance or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of (x) any Allocated Underlying Realized Losses on the Mortgage Loans in Loan Group 1 that would otherwise be allocated to the Class A-1 1-A-4 Certificates will instead be allocated to the Class 1-A-5 Certificates, until its Class Certificate Balance is reduced to zero, (y) any Realized Losses on the Mortgage Loans in Loan Group 2 that would otherwise be allocated (i) to the Class 2-A-2 Certificates will instead be allocated to the Class 2-A-24 Certificates, until its Class Certificate Balance is reduced to zero and (ii) to the Class 2-A-6 and Class 2-A-7 Certificates will instead be allocated to the Class 2-A-20 Certificates, until its Class Certificate Balance is reduced to zero and (z) any Realized Losses on the Mortgage Loans in Loan Group 3 that would otherwise be allocated to the Class 3-A-7 Certificates will instead be allocated to the Class 3-A-9 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Pre-funding Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than any other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on a Mortgage Loan in a Loan Group, shall be allocated to the related Class of Principal Only Certificates, until the respective Class Certificate Balance or Component Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero and then to the Classes of Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable, and the related Class A-R of Principal Only Certificates) ), pro rata, based on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of its respective Class Certificate Balance or Component Balance, as applicable, and its respective initial Class Certificate Balance or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that any Allocated Underlying Realized Losses that would on the Mortgage Loans in Loan Group 1 otherwise allocable on any Distribution Date to the Class 1-A-5 Certificates shall instead be allocated to the Class A-1 Certificates will be allocated to the Class A-2 1-A-8 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Principal Only Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Certificates (other than Senior Certificates, pro rata on the Class A-R Certificates) pro rata, based on basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on Mortgage Loans that would otherwise be allocated to the Class A-1 A-1, Class A-2 and Class A-3 Certificates will instead be allocated to the Class A-2 Certificates, A-4 Certificates until its Class Certificate Balance is reduced to zero. (B) on each Distribution Date, Excess Losses on the Mortgage Loans shall be allocated pro rata among the Classes of Senior Certificates (other than the Notional Amount Certificates) on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated to the Classes Certificates, pro rata on the basis of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate BalancesBalances until the respective Class Certificate Balance of each such Class is reduced to zero, provided except that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 A-10 Certificates will instead be allocated to the Class A-2 A-9 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine aggregate the loan-level information provided by the Servicer with respect to the total amount of Allocated Underlying Realized Losses for with respect to the Mortgage Loans in each Loan Group or the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, Realized Losses with respect to any Distribution Date that occurred during the related prepayment period shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of Certificates their respective numerical Class designations (other than beginning with the Class Aof Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and second, to the related class or classes of Senior Certificates or Components, as applicable, on a pro rata basis, until their respective Certificate Principal Balances or Component Principal Balances have been reduced to zero; provided, however, the Class 2-R A-1B and Class 2-A-1C Certificates will bear the principal portion of all realized losses otherwise allocable to the Class 2-A-1A Certificates) , pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 CertificatesPrincipal Balance, until its Class Certificate Balance is the related certificate principal balances have been reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses Losses, if any, with respect to the Mortgage Loans in each Loan Group for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying Realized Losses with respect to each Loan Group shall be allocated on any Distribution Date shall be allocated as follows: first, to the Classes Subordinate Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinate Certificates with the highest numerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and (other than A) with respect to Loan Group 1, to the Class A-1 and Class A-R Certificates) , pro rata, based on their respective until the Class Certificate BalancesPrincipal Balance of each such Class is reduced to zero; (B) with respect to Loan Group 2, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its the Class Certificate Principal Balance of such Class is reduced to zero; (C) with respect to Loan Group 3, to the Class A-3 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero; (D) with respect to Loan Group 4, to the Class A-4 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero; and (E) with respect to Loan Group 5, to the Class A-5 Certificates, until the Class Certificate Principal Balance of such Class is reduced to zero. (c) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. (d) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(b) above or (c) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (de) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Principal Balance of a Certificate, Certificate pursuant to Section 3.06(a5.03(b) above or (c) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Principal Balance."”

Allocation of Realized Losses. (a) On or All Realized Losses on the Mortgage Loans allocated to any Regular Certificate shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow; second, to the Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fourth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the beginning of the second Business Day prior to each relevant Distribution Date, the Trustee shall determine the total amount before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Allocated Underlying Realized Losses for Certificates, on such Distribution Date. The Trustee Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall make such determination on be made by reducing the basis Certificate Principal Balance thereof by the amount so allocated; any allocation of amounts on deposit Realized Losses to a Class C Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(viii). No allocations of any Realized Losses shall be made to the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis Principal Balances of the agreement referred to in Class A Certificates or the last sentence of Section 5.07Class P Certificates. (b) Allocated Underlying All Realized Losses with respect to any Distribution Date 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 Classes of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1E up to an aggregate amount equal to the Class A-1 Certificates will be allocated REMIC 1 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Class A-2 CertificatesUncertificated Principal Balances of REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1E up to an aggregate amount equal to the REMIC 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1D and REMIC 1 Regular Interest LT1E, 98%, 1% and 1%, respectively, until its Class Certificate the Uncertificated Principal Balance is of REMIC 1 Regular Interest LT1D has been reduced to zero; and fourth, to the Uncertificated Principal Balances of REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1C and REMIC 1 Regular Interest LT1E, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 1 Regular Interest LT1C has been reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Master Servicer shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the Notional Amount Certificates), pro rata on the basis of their respective Class A-R Certificate Balances immediately prior to the related Distribution Date until the Class Certificate Balances thereof have been reduced to zero; (ii) any Excess Losses on the Mortgage Loans shall be allocated to the Senior Certificates (other than the Notional Amount Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of, their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its . (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.03(a) or (b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.03(a) or (b) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "“Certificate Balance”."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved]; (ii) Any Realized Loss on the Mortgage Loans shall be allocated first, to the Subordinated Certificates, in reverse order of their respective numerical Class designations (beginning with the Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second, to the Senior Certificates (other than any Notional Amount Certificates, if applicable) in the following order: first, to the Class A-3 Certificates, second, to the Class A-2 Certificates and third, to the Class A-1 Certificates, in each case, until their respective Class Certificate Balances are reduced to zero. For purposes of allocating losses to the Subordinated Certificates, the Class M Certificates will be considered to have a lower numerical class designation than each other class of Subordinated Certificates. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (other than after giving effect to the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying distribution of principal and the allocation of Net Deferred Interest and Realized Losses that would otherwise be allocated on such Distribution Date) exceeds the sum of (i) the Pool Stated Principal Balance as of the last day of the Due Period related to such Distribution Date and (ii) in the Class A-1 Certificates will be allocated to case of the Class A-2 Certificatesfirst Distribution Date only, until its Class Certificate Balance is reduced to zerothe Supplemental Amount. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Principal Balance, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Principal Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee Master Servicer shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) any Realized Loss (other than an Excess Loss) shall be allocated first to the Classes Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the Notional Amount Certificates), pro rata on the basis of their respective Class A-R Certificate Balances immediately prior to the related Distribution Date until the Class Certificate Balances thereof have been reduced to zero; (ii) any Excess Losses on the Mortgage Loans shall be allocated to the Senior Certificates (other than the Notional Amount Certificates) and the Subordinated Certificates then outstanding, pro rata, based on the basis of, their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its . (b) The Class Certificate Balance is of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.03(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.03(b) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance"."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Any Realized Losses Loss with respect to any Distribution Date shall be allocated first to the Classes Subordinated Certificates in reverse order of Certificates their respective numerical Class designations (other than beginning with the Class Aof Subordinated Certificates then outstanding with the highest numerical Class designation), and then to the Class A-3 Certificates, until the respective Class Certificate Balance of each such Class is reduced to zero. Any remaining Realized Losses will be allocated concurrently, to the Class A-1-R Certificates) 1, Class A-1-2, Class A-2-1, Class A-2-2, Class A-2-3 and Class A-2-4 Certificates and the PO Component, pro rata, based on until their respective Class Certificate BalancesBalances and Component Principal Balance are reduced to zero; provided, provided however, that any Allocated Underlying Realized Losses on the Mortgage Loans that would otherwise be allocated to the Class A-1 A-1-1 Certificates will instead first be allocated to the Class A-2 Certificates, A-1-2 Certificates until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class or Component of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than any other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss on a Mortgage Loan in a Loan Group shall be allocated to the related Class of Class PO Certificates, until the respective Class Certificate Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Certificates of the related Senior Certificate Group (other than any Notional Amount Certificates, if applicable, and the Class A-R PO Certificates) ), pro rata, based on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of its respective Class Certificate Balance or Component Balance, as applicable, and its respective initial Class Certificate Balance or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of any Allocated Underlying Realized Losses on the Mortgage Loans in Loan Group 1 that would otherwise be allocable to the Class 1-A-3 Certificates will instead be allocated to the Class A-1 1-A-6 Certificates, until its Class Certificate Balance is reduced to zero and the Non-PO Percentage of any Realized Losses on the Mortgage Loans in Loan Group 2 that would otherwise be allocable to the Class 2-A-6 Certificates will instead be allocated to the Class A-2 2-A-7 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Pre-funding Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss shall be allocated to the Classes Class PO Certificates until the Class Certificate Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the Class A-R PO Certificates) ), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of any Allocated Underlying Realized Losses on the Mortgage Loans that would otherwise be allocated to the Class A-1 A-8 Certificates will shall instead be allocated to the Class A-2 A-9 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components." (e) [Reserved]

Allocation of Realized Losses. (a) On or All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow; second, to the Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the beginning of the second Business Day prior to each relevant Distribution Date, the Trustee shall determine the total amount before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Allocated Underlying Realized Losses for Certificates, on such Distribution Date. The Trustee Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall make such determination on be made by reducing the basis Certificate Principal Balance thereof by the amount so allocated. Any allocation of amounts on deposit Realized Losses to a Class C Certificate shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(d)(viii). No allocations of any Realized Losses shall be made to the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis Principal Balances of the agreement referred to in Class A Certificates or the last sentence of Section 5.07Class P Certificates. (b) Allocated Underlying All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: with respect to any Distribution Date shall be allocated Realized Losses on the Group 1 Loans, first to the Classes of Certificates REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1B, its respective proportion (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balancesits Uncertificated Principal Balance in relation to such Loan Group) of such Realized Loss, provided that any Allocated Underlying and with respect to Realized Losses that would otherwise be allocated on the Group II Loans, to the Class A-1 Certificates will be allocated REMIC 1 Regular Interest LT1A and REMIC 1 Regular Interest LT1C, its respective proportion (based on its Uncertificated Principal Balance in relation to the Class A-2 Certificatessuch Loan Group) of such Realized Loss, until its Class Certificate the Uncertificated Principal Balance is has been reduced to zero, second to REMIC 1 Regular Interest LT1F, third to REMIC 1 Regular Interest LT1E, and fourth to REMIC 1 Regular Interest LT1D until the Uncertificated Principal Balance has been reduced to zero. (c) Any Allocated Underlying All Realized Loss Losses on the REMIC 1 Regular Interest LT1A, REMIC 1 Regular Interest LT1B, REMIC 1 Regular Interest LT1C, REMIC 1 Regular Interest LT1D, REMIC 1 Regular Interest LT1E and REMIC 1 Regular Interest LT1F shall be deemed to have been allocated to a Class of Certificates or any reduction in the Class Certificate specified percentages, as follows: with respect to Realized Losses on the Group I Loans, first to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest LT2- 1AA and REMIC 2 Regular Interest LT2-1ZZ up to an aggregate amount equal to the REMIC 2 Group 1 Interest Loss Allocation Amount, 98% and 2% respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2-1AA and REMIC 2 Regular Interest LT2-1ZZ up to an aggregate amount equal to the REMIC 2 Group 1 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2-1AA, REMIC 2 Regular Interest LT2-1B and REMIC 2 Regular Interest LT2-1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of a Class REMIC 2 Regular Interest LT2-1B has been reduced to zero; fourth, to the Uncertificated Principal Balances of Certificates pursuant REMIC 2 Regular Interest LT2-1AA, REMIC 2 Regular Interest LT2-1M2 and REMIC 2 Regular Interest LT2-1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2-1M2 has been reduced to Section 3.06(b) above shall be allocated among zero; and fifth, to the Certificates Uncertificated Principal Balances of such Class in proportion REMIC 2 Regular Interest LT2-1AA, REMIC 2 Regular Interest LT2-1M1 and REMIC 2 Regular Interest LT2-1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT2-1M1 has been reduced to their respective Certificate Balances. (d) Any allocation of Allocated Underlying zero, and with respect to Realized Losses on the Group II Loans, first, to a Certificate or any reduction in Uncertificated Accrued Interest payable to the Certificate REMIC 2 Regular Interest LT2-2AA and REMIC 2 Regular Interest LT2- 2ZZ up to an aggregate amount equal to the REMIC 2 Group 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2-2AA and REMIC 2 Regular Interest LT2-2ZZ up to an aggregate amount equal to the REMIC 2 Group 2 Principal Loss Allocation Amount, 98% and 2% respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT2-2AA, REMIC 2 Regular Interest LT2-2B and REMIC 2 Regular Interest LT2-2ZZ, 98%, 1% and 1% respectively, until the Uncertificated Principal Balance of a CertificateREMIC 2 Regular Interest LT2-2B has been reduced to zero; fourth, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Uncertificated Principal Balances of REMIC 2 Regular Interest LT2-2AA, REMIC 2 Regular Interest LT2-2M2 and REMIC 2 Regular Interest LT2-2ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance thereof immediately following of REMIC 2 Regular Interest LT2-2M2 has been reduced to zero; and fifth, to the distributions made on Uncertificated Principal Balances of REMIC 2 Regular Interest LT2-2AA, REMIC 2 Regular Interest LT2-2M1 and REMIC 2 Regular Interest LT2- 2ZZ, 98%, 1% and 1% respectively, until the related Distribution Date in accordance with the definition Uncertificated Principal Balance of "Certificate BalanceREMIC 2 Regular Interest LT2-2M1 has been reduced to zero."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [Reserved]; (ii) Any Realized Loss on the Mortgage Loans in a Loan Group shall be allocated first, to the Classes Subordinated Certificates, in reverse order of their respective distribution priorities (beginning with the Subordinated Certificates (other than then outstanding with the lowest distribution priority) until the respective Class A-R Certificate Balance of each such Class is reduced to zero, and second, to the Senior Certificates of the related Senior Certificate Group or the PO Components thereof in the case of a Class of Component Certificates) , pro rata, based on the basis of their respective Class Certificate Balances or Component Principal Balances, provided that as applicable, immediately prior to the related Distribution Date until the respective Class Certificate Balance or Component Principal Balance, as applicable, of each such Class is reduced to zero; provided, however, (A) any Allocated Underlying Realized Losses that would otherwise in Loan Group 1 allocable to the Class 1-A1 and Class 1-A2 Certificates shall be allocated to the Class A-1 Certificates will be allocated to the Class A-2 1-A3 Certificates, until its Class Certificate Balance is reduced to zero, and thereafter, any Realized Losses in Loan Group 1 allocable to the Class 1-A1 Certificates shall be allocated to the Classes of Class 1-A2 Certificates, pro rata, on the basis of their respective Class Certificate Balances, until their respective Class Certificate Balances are reduced to zero; and (B) any Realized Losses in Loan Group 2 allocable to the Class 2-A-1 Certificates shall be allocated to the Class 2-A-2 Certificates until its Class Certificate Balance is reduced to zero (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the lowest distribution priority shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Net Deferred Interest and Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance as of the last day of the Due Period related to such Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(b) above shall be accomplished by reducing the Certificate Balance thereof or Component Principal Balance, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Principal Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee each Master Servicer shall determine the total amount of Allocated Underlying Realized Losses, including Excess Losses for such on the related Mortgage Loans, with respect to the related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, shall be allocated to the related Principal Only Classes of Certificates (until the Class Certificate Balance or Component Balance thereof is reduced to zero; provided, however, that any Realized Loss, other than an Excess Loss, otherwise allocable to the Class AA-11-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise 6 Component shall instead be allocated to the Class A-1 A-12-6 Component until the Component Balance thereof is reduced to zero; and (1) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates will in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates in the Certificate Group related to the Loan Group that experienced such Realized Loss (other than the Notional Amount Classes and the related Principal Only Classes), pro rata on the basis of their respective Class Certificate Balances or, in the case of an Accrual Class, on the basis of the lesser of the Class Certificate Balance or Component Balance, as applicable, and the initial Class Certificate Balance or Component Balance thereof, in each case immediately prior to the related Distribution Date until the Class Certificate Balances thereof have been reduced to zero; provided, however, that any Realized Loss, other than an Excess Loss, otherwise allocable to the Class A-11 Certificates shall instead be allocated to the Class A-2 Certificates, A-12 Certificates until its the Class Certificate Balance thereof is reduced to zero. (2) the applicable Non-PO Percentage of any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the related Senior Certificates (other than the Notional Amount Classes and the related Principal Only Classes) and the Subordinated Certificates then outstanding, pro rata, on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances or, in the case of an Accrual Class, on the basis of the lesser of the Class Certificate Balance or Component Balance, as applicable, and the initial Class Certificate Balance or Component Balance thereof, in each case immediately prior to such Distribution Date and, with respect to each Class of Subordinated Certificates, the applicable Assumed Balance for each such Class relating to the Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after a Senior Termination Date for a Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates on the basis of their respective Class Certificate Balances and to the remaining Senior Certificates. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Principal Only Classes in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.03(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.03(a) or (b) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, shall be allocated to the Classes Class PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero and to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero; and (ii) (A) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the related Class A-R Certificates) PO Component), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; provided, however, that any Allocated Underlying Realized Losses that Loss (other than an Excess Loss) which would otherwise be allocated to the Class A-1 2-A-3 Certificates will instead be allocated to the Class A-2 2-A-5 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a the Class of 2-A-5 Certificates pursuant is reduced to Section 3.06(b) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."zero; and

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior Prior to each Distribution Date, the Trustee Master Servicer, based solely on the information provided by the Servicer, shall determine the total amount of Allocated Underlying Realized Losses, if any, with respect to each Loan. To the extent that Realized Losses for on a Distribution Date cause the aggregate Certificate Principal Balance of the Senior Certificates and Mezzanine Certificates, after taking into account all distributions on such Distribution Date. The Trustee shall make such determination on , to exceed the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis aggregate Scheduled Principal Balance of the agreement referred to in Loans as of the last sentence day of Section 5.07. (b) Allocated Underlying Realized Losses the related Due Period, such excess will be allocated first, to the Class M-4 Certificates; second, to the Class M-3 Certificates, third, to the Class M-2 Certificates and fourth, to the Class M-1 Certificates, in each case to reduce the Certificate Principal Balance thereof until it has been reduced to zero. In addition, to the extent the Servicer receives Subsequent Recoveries with respect to any defaulted Loan, the amount of the Realized Loss with respect to that defaulted Loan will be reduced to the extent such Subsequent Recoveries are applied to increase the Certificate Principal Balance of any Class of Mezzanine Certificates on any Distribution Date. Any allocation of Realized Losses to a Mezzanine Certificate on any Distribution Date shall be made by reducing the Certificate Principal Balance thereof by the amount so allocated as of such Distribution Date after all distributions on such Distribution Date have been made. Any allocation of Realized Losses to a Class CE Certificates shall be made by reducing the amount otherwise payable in respect thereof pursuant to Section 4.1(a)(iii)(f). No allocations of Realized Losses shall be made to the Senior Certificates. Notwithstanding anything to the contrary in this Agreement, in no event will the Certificate Principal Balance of any Mezzanine Certificate be reduced more than once in respect of any particular amount both (i) allocable to the Mezzanine Certificate in respect of Realized Losses and (ii) payable as principal to the Holder of such Certificate from Net Monthly Excess Cashflow. As used herein, any allocation of a Realized Loss on a “pro rata basis” among two or more specified Classes of Certificates (other than means an allocation on a pro rata basis, among the various Classes so specified, to each such Class A-R Certificates) pro rata, based of Certificates on the basis of their respective Class then outstanding Certificate Balances, provided that any Allocated Underlying Principal Balances prior to giving effect to distributions to be made on such Distribution Date. All Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Balance is reduced to zero. (c) Any Allocated Underlying Realized Loss and all other losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall hereunder will be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) the Percentage Interests evidenced thereby. Any allocation Subsequent Recoveries collected by the Servicer will be distributed as part of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Available Distribution Date Amount in accordance with the definition priorities described under Section 4.1. In addition, the Certificate Principal Balance of "each Class of Certificates that has been reduced by the allocation of a Realized Loss to such Certificate Balancewill be increased in order of seniority with respect to the Mezzanine Certificates, by the amount of such Subsequent Recoveries, but only to the extent that such Certificate has not been reimbursed for the amount of such Realized Loss (or a portion thereof) allocated to such Certificate from Net Monthly Excess Cashflow. Holders of such Certificates will not be entitled to any payment in respect of current interest on the amount of such increases for any Interest Accrual Period preceding the Distribution Date on which such increase occurs. All reductions in the Certificate Principal Balance of a Certificate effected by distributions of principal or allocations of Realized Losses with respect to Loans made on any Distribution Date shall be binding upon all Holders of such Certificate and of any Certificate issued upon the registration of transfer or exchange therefor or in lieu thereof, whether or not such distribution is noted on such Certificate."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses the Applied Loss Amount, if any, for such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to Applied Loss Amount for any Distribution Date shall be allocated to the Classes of Certificates (other than applied by reducing the Class A-R Certificates) pro rataPrincipal Balance of each Class of Subordinate Certificates beginning with the Class of Subordinate Certificates then outstanding with the lowest relative payment priority, based on their in each case until the respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 Certificates, until its Class Certificate Principal Balance thereof is reduced to zero. (c) . Any Allocated Underlying Realized Applied Loss Amount allocated to a Class of Subordinate Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above shall be allocated among the Subordinate Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Percentage Interests. All Realized Losses on the Mortgage Loans shall be allocated on each Distribution Date to a Certificate or any reduction the following REMIC 1 Regular Interests: first, to REMIC 1 Regular Interests LTI-1 until the Uncertificated Principal Balance thereof has been reduced to zero, then to REMIC 1 Regular Interest LTI-1PF until the Uncertificated Principal Balance thereof has been reduced to zero, however, that with respect to the first three Distribution Dates, Realized Losses relating to the Initial Mortgage Loans shall be allocated to REMIC 1 Regular Interest LTI-1 and Realized Losses relating to the Subsequent Mortgage Loans shall be allocated to REMIC 1 Regular Interest LTI-1PF until the Uncertificated Principal Balance thereof has been reduced to zero. All Realized Losses on the REMIC 1 Regular Interests LTI-1 and LTI-1PF shall be deemed to have been allocated to the following REMIC 2 Regular Interests in the Certificate specified percentages, as follows: first to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interests MTI-AA and MTI-ZZ up to an aggregate amount equal to the excess of (a) the REMIC 2 Interest Loss Allocation Amount over (b) Prepayment Interest Shortfalls (to the extent not covered by Compensating Interest) relating to the Mortgage Loans for such Distribution Date, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of the REMIC 2 Regular Interests MTI-AA and MTI-ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MTI-AA, REMIC 2 Regular Interest MTI-B and REMIC 2 Regular Interest MTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of a CertificateREMIC 2 Regular Interests MTI-B have been reduced to zero; fourth, pursuant to Section 3.06(a) above the Uncertificated Principal Balances of REMIC 2 Regular Interest MTI-AA, REMIC 2 Regular Interest MTI-M-2 and REMIC 2 Regular Interest MTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MTI-M-2 has been reduced to zero; and fifth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MTI-AA, REMIC 2 Regular Interest MTI-M-1 and REMIC 2 Regular Interest MTI-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest MTI-M-1 has been reduced to zero. All Realized Losses on the REMIC 2 Regular Interests shall be accomplished by reducing deemed to have been allocated to the Certificate Balance thereof immediately following REMIC 3 Regular Interests in specified percentages and in the distributions made on same priority as that allocated to the related Distribution Date in accordance with the definition of "Certificate BalanceCorresponding Certificates."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated to as follows: (i) the Classes applicable PO Percentage of Certificates (other than the Class A-R Certificates) pro rata, based on their respective Class Certificate Balances, provided that any Allocated Underlying Realized Losses that would otherwise Loss shall be allocated to the Class A-1 PO Certificates until the Class Certificate Balance thereof is reduced to zero; and the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, second, to the Classes of Senior Certificates (other than any Notional Amount Certificates, if applicable, and the Class PO Certificates), pro rata on the basis of their respective Class Certificate Balances immediately prior to such Distribution Date or, in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance immediately prior to such Distribution Date, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, however, that the Non-PO Percentage of any Realized Losses on the Mortgage Loans that would otherwise be allocated: (i) to the Class A-3 Certificates will instead be allocated to the Class A-2 A-4 Certificates, until its Class Certificate Balance is reduced to zero; (ii) to the Class A-8 and Class A-9 Certificates will instead be allocated to the Class A-10 Certificates, until its Class Certificate Balance is reduced to zero and (iii) to the Class A-15, Class A-17, Class A-18 and Class A-20 Certificates will instead be allocated to the Class A-19 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance or Component Balance of a CertificateCertificate or Component, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components." (e) [Reserved]

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates (other than of the Class A-R Certificates) related Senior Certificate Group, pro rata, based rata on the basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on the Group 1 Mortgage Loans that would otherwise be allocated to the Class A-1 1-A-2 Certificates will instead be allocated to the Class 1-A-3 Certificates until its Class Certificate Balance is reduced to zero and any Realized Losses other than Excess Losses on the Group 2 Mortgage Loans that would otherwise be allocated to the Class2-A-2 Certificates, Certificates will instead be allocated to the Class 2-A-3 Certificates until its Class Certificate Balance is reduced to zero. (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated pro rata among the Classes of Senior Certificates of the related Senior Certificate Group and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the Senior Percentage of such Excess Losses shall be allocated among the Classes of Senior Certificates in the related Senior Certificate Group, pro rata, on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the Subordinated Percentage of such Excess Loss shall be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class' share of the Assumed Balance of the related Loan Group immediately prior to the related Distribution Date; provided, however, on any Distribution Date after the second Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Senior Certificates and the Subordinated Certificates on the basis of their respective Class Certificate Balances immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes of Senior Certificates based on their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to each related Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) [reserved]; and (A) any Realized Loss (other than any Excess Loss) on the Mortgage Loans in a Loan Group shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Classes of Senior Certificates (other than of the Class A-R Certificates) related Senior Certificate Group, pro rata, based rata on the basis of their respective Class Certificate Balances, provided in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance of each such Class is reduced to zero, provided, however, that any Allocated Underlying Realized Losses other than Excess Losses on the Group 1 Mortgage Loans that would otherwise be allocated to the Class 1-A-1 Certificates will instead be allocated to the Class 1-A-2 Certificates, Certificates until its Class Certificate Balance is reduced to zero; any Realized Losses other than Excess Losses on the Group 2 Mortgage Loans that would otherwise be allocated to the Class 2-A-1 Certificates will instead be allocated to the Class 2-A-2 Certificates until its Class Certificate Balance is reduced to zero. (B) On each Distribution Date, Excess Losses on the Mortgage Loans in a Loan Group shall be allocated pro rata among the Classes of Senior Certificates of the related Senior Certificate Group and the Subordinated Certificates as follows: (i) in the case of the Senior Certificates, the Senior Percentage of such Excess Losses shall be allocated among the Classes of Senior Certificates in the related Senior Certificate Group, pro rata, on the basis of their respective Class Certificate Balances immediately prior to the related Distribution Date and (ii) in the case of the Subordinated Certificates, the Subordinated Percentage of such Excess Loss shall be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class' share of the Assumed Balance of the related Loan Group immediately prior to the related Distribution Date; provided, however, on any Distribution Date after a Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group shall be allocated to the Senior Certificates and the Subordinated Certificates on the basis of their respective Class Certificate Balances immediately prior to such Distribution Date; provided further, however, on any Distribution Date on and after the Senior Credit Support Depletion Date, any Excess Loss shall be allocated, pro rata, among the Classes of Senior Certificates based on their respective Class Certificate Balances immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the amount, if any, by which the aggregate Class Certificate Balance of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses on such Distribution Date) exceeds the aggregate Stated Principal Balance of the Mortgage Loans as of the Due Date in the month of such Distribution Date (after giving effect to Principal Prepayments in the Prepayment Period related to such Due Date). (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.05(a) above or (b) shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate Balance of a Certificate, Certificate pursuant to Section 3.06(a4.05(a) above or (b) shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss shall be allocated to the Classes Class PO Certificates until the Class Certificate Balance thereof is reduced to zero; and (ii) the applicable Non-PO Percentage of any Realized Loss shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than any Notional Amount Certificates, if applicable, and the Class A-R PO Certificates) ), pro rata, based rata on the basis of their respective Class Certificate BalancesBalances or, provided in the case of any Class of Accrual Certificates or Accrual Component, on the basis of the lesser of their respective Class Certificate Balances or Component Balance, as applicable, and their respective initial Class Certificate Balances or Component Balance, as applicable, in each case immediately prior to the related Distribution Date, until the respective Class Certificate Balance or Component Balance of each such Class or Component is reduced to zero; provided, that the Non-PO Percentage of any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 A-6 Certificates will instead be allocated to the Class A-2 A-7 Certificates, until its Class Certificate Balance is reduced to zero. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to the distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the sum of the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Supplemental Loan Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss Losses allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be. All Realized Losses allocated to a Class of Component Certificates will be allocated, pro rata, to the related Components." (e) [Reserved]

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Date, the Trustee Securities Administrator shall determine aggregate the loan-level information provided by the Master Servicer with respect to the total amount of Allocated Underlying Realized Losses and the total amount of Charged-off Amounts with respect to each Loan Group for the related Distribution Date and include such Distribution Date. The Trustee shall make such determination on the basis of amounts on deposit information in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07Distribution Date Statement. (b) Allocated Underlying On each Distribution Date, (i) the applicable PO Percentage of Realized Losses with respect to any Distribution Date and Charged-off Amounts on Discount Mortgage Loans in Loan Group 1 that occurred during the related prepayment period shall be allocated to the Classes PO-1 Component until its Component Principal Balance is reduced to zero, and (ii) the applicable PO Percentage of Realized Losses and Charged-off Amounts on Discount Mortgage Loans in Loan Group 2 that occurred during the related prepayment period shall be allocated to the PO-2 Component until its Component Principal Balance is reduced to zero. (c) On each Distribution Date, the applicable Non-PO Percentage of Realized Losses and Charged-off Amounts that occurred during the related prepayment period shall be allocated as follows: first, to the Subordinate Certificates in reverse order of their respective alphanumerical Class designations (other than beginning with the Class of Subordinate Certificates with the highest alphanumerical Class designation) until the Class Certificate Principal Balance of each such Class is reduced to zero; and (A) with respect to such Realized Losses and Charged-off Amounts related to Loan Group 1, to the Class A-1 and Class A-R Certificates) , pro rata, based on their respective until the Class Certificate Balances, provided that any Allocated Underlying Principal Balance of each such Class is reduced to zero; and (B) with respect to such Realized Losses that would otherwise be allocated and Charged-off Amounts related to the Class A-1 Certificates will be allocated Loan Group 2, to the Class A-2 Certificates, until its Class Certificate Principal Balance is reduced to zero; (d) The Class Certificate Principal Balance of the Class of Subordinate Certificates then outstanding with the highest alphanumerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments to on the PO Components in respect of any PO Deferred Amounts pursuant to Section 5.01(a)(iii) and (ii) the amount, if any, by which the aggregate of the Class Certificate Principal Balances of all outstanding Classes of Certificates and the aggregate of the Component Principal Balances of all outstanding PO Components (after giving effect to the distribution of principal and the allocation of Realized Losses and Charged-off Amounts on such Distribution Date) exceeds the aggregate of the Stated Principal Balances of all the Mortgage Loans for the following Distribution Date. On any Distribution Date, to the extent that the Class Certificate Principal Balance of the Class L Certificates has been reduced as a result of the allocation a Realized Loss or a Charged-off Amount, the Securities Administrator will withdraw from the Standby Reserve Account, to the extent funds are available therein, the amount referred to in Section 4.04(c)(A) or (B), as applicable, for such Distribution Date, and distribute, as principal, the amount referred to in Section 4.04(c)(A) or (B), as applicable, to the Class or Classes of Certificates which were allocated such Realized Loss or Charged-off Amount, as applicable, pro rata according to the amount of such Realized Loss or Charged-off Amount, as applicable; ); provided, further, that the Class Certificate Principal Balance of the Class L Certificates shall not be further reduced as a result of such payment. (ce) Any Allocated Underlying Realized Loss or Charged-off Amount allocated to a Class of Certificates or any reduction in the Class Certificate Principal Balance of a Class of Certificates pursuant to Section 3.06(b5.03(c) above or (d) shall be allocated among the Certificates of such Class Class, pro rata, in proportion to their respective Certificate Principal Balances. (df) Any allocation of Allocated Underlying Realized Losses or Charged-off Amounts to a Certificate or any reduction in the Certificate Balance of a Certificate, PO Component pursuant to Section 3.06(a5.03(b) above shall be accomplished by reducing the Certificate Component Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate “Component Principal Balance."” Any allocation of Realized Losses or Charged-off Amounts to a Certificate or any reduction in the Certificate Principal Balance of a Certificate pursuant to Section 5.03(c) or (d) shall be accomplished by reducing the Certificate Principal Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of “Certificate Principal Balance.”

Allocation of Realized Losses. (a) On or All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to Net Monthly Excess Cashflow, through a distribution of the Extra Principal Distribution Amount for that Distribution Date; second, to the Overcollateralized Amount by a reduction of the Certificate Principal Balance of the Class C Certificates, until the Certificate Principal Balance thereof has been reduced to zero; third, to the Class B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; fourth, to the Class M-2 Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and fifth, to the Class M-1 Certificates, until the Certificate Principal Balance thereof has been reduced to zero. All Realized Losses to be allocated to the Certificate Principal Balances of all Classes 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 of Certificates shall be to the Certificate Principal Balance of such Class immediately prior to the beginning of the second Business Day prior to each relevant Distribution Date, the Trustee shall determine the total amount before reduction thereof by any Realized Losses, in each case to be allocated to such Class of Allocated Underlying Realized Losses for Certificates, on such Distribution Date. The Trustee Any allocation of Realized Losses to a Mezzanine Certificate or Subordinate Certificate on any Distribution Date shall make such determination on be made by reducing the basis Certificate Principal Balance thereof by the amount so allocated. Any allocation of amounts on deposit Realized Losses to a Class C Certificate shall be made by (i) FIRST, reducing the amount otherwise payable in respect thereof pursuant to Section 4.01(c)(viii), and (ii) SECOND, by reducing the Underlying Certificate Account (which Underlying Principal Balance thereof by the amount so allocated. No allocations of any Realized Losses shall be made to the Certificate Account it holds as Underlying Trustee) or on the basis Principal Balances of the agreement referred to in Class A Certificates or the last sentence of Section 5.07Class P Certificates. (b) Allocated Underlying All Realized Losses with respect to any Distribution Date on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date as follows: first, to REMIC 1 Regular Interest LT-1 until the Classes of Certificates (other than Uncertificated Principal Balance thereof has been reduced to zero, second, to REMIC 1 Regular Interest LT-2 until the Class A-R Certificates) pro rataUncertificated Principal Balance thereof has been reduced to zero, based on their respective Class Certificate Balancesthird, provided that any Allocated Underlying Realized Losses that would otherwise be allocated to REMIC 1 Regular Interest LT-3 until the Class A-1 Certificates will be allocated Uncertificated Principal Balance thereof has been reduced to zero, fourth, to REMIC 1 Regular Interest LT-4 until the Class A-2 CertificatesUncertificated Principal Balance thereof has been reduced to zero, and fifth, to REMIC 1 Regular Interest LT-5 until its Class Certificate the Uncertificated Principal Balance is thereof has been reduced to zero. (c) Any Allocated Underlying All Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above Losses on REMIC 1 Regular Interest LT-1, REMIC 1 Regular Interest LT-2, REMIC 1 Regular Interest LT-3, REMIC 1 Regular Interest LT-4 and REMIC 1 Regular Interest LT-5 shall be allocated among to the Certificates of such Class in proportion to their respective Certificate Balances. following REMIC 2 Regular Interests (dother than REMIC 2 Regular Interest MT-IO) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction in the Certificate specified percentages, as follows: first to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2% respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA and REMIC 2 Regular Interest MT-ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-B and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of a CertificateREMIC 2 Regular Interest MT-B has been reduced to zero; fourth, pursuant to Section 3.06(a) above shall be accomplished by reducing the Certificate Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M2 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance thereof immediately following of REMIC 2 Regular Interest MT-M2 has been reduced to zero; and fifth, to the distributions made on Uncertificated Principal Balances of REMIC 2 Regular Interest MT-AA, REMIC 2 Regular Interest MT-M1 and REMIC 2 Regular Interest MT-ZZ, 98%, 1% and 1%, respectively, until the related Distribution Date in accordance with the definition Uncertificated Principal Balance of "Certificate BalanceREMIC 2 Regular Interest MT-M1 has been reduced to zero."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying Subordinated Certificates. Realized Losses with respect to any Distribution Date shall be allocated as follows: (i) the applicable PO Percentage of any Realized Loss, including any Excess Loss, shall be allocated to the Class PO-1 Component, if such Realized Loss relates to a Loan Group 1 Mortgage Loan until the Component Balance thereof is reduced to zero to the Class PO-2 Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero and to the Class PO-3 Component, if such Realized Loss relates to a Loan Group 3 Mortgage Loan until the Component Balance thereof is reduced to zero; and (1) the applicable Non-PO Percentage of any Realized Loss (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Senior Certificates (other than the related Class X Certificates and the related Class PO Component), pro rata on the basis of their respective Class Certificate Balances or, in the case of each Class of Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; and (2) the applicable Non-PO Percentage of any Excess Losses on the Mortgage Loans in a Loan Group shall be allocated to the Classes of Certificates of the related Senior Certificate Group (other than the related Class X Certificates and the related Class PO Component) and the Subordinated Certificates then outstanding, pro rata, on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances, or in the case of any Class of Accrual Certificates, on the basis of the lesser of its Class Certificate Balance and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date and, with respect to each Class of Subordinated Certificates, the applicable Assumed Balance for each such Class relating to the Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after the second Senior Termination Date for a Senior Certificate Group, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates on the basis of their respective initial Class Certificate Balances; and provided further that after the Senior Credit Support Depletion Date, such Excess Losses shall be allocated to all Senior Certificates (other than the Class A-R PO Certificates) pro rata, based regardless of Senior Certificate Group on the basis of their respective Class Certificate Balances, provided that or in the case of any Allocated Underlying Realized Losses that would otherwise be allocated to the Class A-1 Certificates will be allocated to the Class A-2 of Accrual Certificates, until on the basis of the lesser of its Class Certificate Balance is and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the Pool Stated Principal Balance for the following Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be." (e) [Reserved]

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to each Distribution Determination Date, the Trustee shall determine the total amount of Allocated Underlying Realized Losses for such Losses, including Excess Losses, with respect to the related Distribution Date. The Trustee shall make such determination on For purposes of allocating losses to the basis Subordinated Certificates, the Class M Certificates will be deemed to have a lower numerical Class designation, and to be of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis a higher relative payment priority, than each other Class of the agreement referred to in the last sentence of Section 5.07Subordinated Certificates. (bi) Allocated Underlying With respect to the Mortgage Loan in Loan Group 3, Realized Losses with respect to any Distribution Date shall be allocated as follows: (A) any Realized Loss (other than an Excess Loss) on the Mortgage Loans in Loan Group 3, shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the Group 3 Senior Certificates, pro rata on the basis of their respective Class Certificate Balances; and (B) Excess Losses on the Mortgage Loans in Loan Group 3 shall be allocated to the Group 3 Senior Certificates and the Subordinated Certificates then outstanding, pro rata, as follows: the related Senior Percentage thereof shall be allocated to the Group 3 Senior Certificates and, with respect to the Subordinated Certificates, the related Subordinated Percentage thereof will be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class of Subordinated Certificates share of the Assumed Balance relating to Loan Group 3; provided, however, on any Distribution Date after the second Senior Termination Date, such Excess Losses on the Mortgage Loans in Loan Group 3 will be allocated to the Subordinated Certificates and all Classes of Senior Certificates (other than the related Classes of Notional Amount Certificates and the related Class A-R CertificatesPO Component) pro rata, based regardless of Senior Certificate Group on the basis of their respective Class Certificate Balances, provided that any Allocated Underlying immediately prior to the related Distribution Date. (ii) With respect to a Mortgage Loan in Loan Group 1 and Loan Group 2, Realized Losses that would otherwise with respect to any Distribution Date shall be allocated as follows: (A) Component, if such Realized Loss relates to a Loan Group 2 Mortgage Loan until the Component Balance thereof is reduced to zero; (B) the applicable Non-PO Percentage of any Realized Loss on a Mortgage Loan in Loan Group 1 or Loan Group 2 (other than an Excess Loss) shall be allocated first to the Subordinated Certificates in reverse order of their respective numerical Class designations (beginning with the Class of Subordinated Certificates then outstanding with the highest numerical Class designation) until the respective Class Certificate Balance of each such Class is reduced to zero, and second to the related Senior Certificates (other than the related Class PO Component), pro rata on the basis of their respective Class Certificate Balances or, in the case of any Class of Accrual Certificates, on the basis of the lesser of their Class Certificate Balance and their initial Class Certificate Balance, in each case immediately prior to the related Distribution Date until the respective Class Certificate Balance of each such Class is been reduced to zero; and (C) the applicable Non-PO Percentage of any Excess Losses on the Mortgage Loans in Loan Group 1 or Loan Group 2 shall be allocated to the Classes of Certificates of the related Senior Certificate Group (other than any Notional Certificates, if applicable, and the related Class A-1 PO Component) and the Subordinated Certificates then outstanding, pro rata, as follows: the related Senior Percentage thereof shall be allocated to the Group 1 Senior Certificates and the Group 2 Senior Certificates on the basis of, with respect to such Senior Certificates, their respective Class Certificate Balances, or in the case of any Class of Accrual Certificates, on the basis of the lesser of its Class Certificate Balance and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date and, with respect to the Subordinated Certificates, the related Subordinated Percentage thereof will be allocated among the Classes of Subordinated Certificates, pro rata, based on each Class of Subordinated Certificates share of the applicable Assumed Balance relating to the Loan Group in which such Realized Loss occurs; provided, however, on any Distribution Date after the second Senior Termination Date, such Excess Losses on the Mortgage Loans in the related Loan Group will be allocated to the Subordinated Certificates and the Classes of the Senior Certificates (other than the related classes of Notional Amount Certificates and the related Class A-2 PO Component) regardless of Senior Certificate Group on the basis of their respective Class Certificate Balances, or in the case of any Class of Accrual Certificates, until on the basis of the lesser of its Class Certificate Balance is and its initial Class Certificate Balance, in each case immediately prior to the related Distribution Date. (b) The Class Certificate Balance of the Class of Subordinated Certificates then outstanding with the highest numerical Class designation shall be reduced on each Distribution Date by the sum of (i) the amount of any payments on the Class PO Certificates in respect of Class PO Deferred Amounts and (ii) the amount, if any, by which the aggregate of the Class Certificate Balances of all outstanding Classes of Certificates (after giving effect to zerothe distribution of principal and the allocation of Realized Losses and Class PO Deferred Amounts on such Distribution Date) exceeds the sum of the Pool Stated Principal Balance for the following Distribution Date and any amounts in the Supplemental Loan Account as of that Distribution Date. (c) Any Allocated Underlying Realized Loss allocated to a Class of Certificates or any reduction in the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b4.04(a) above shall be allocated among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or to any Component or any reduction in the Certificate Balance of a Certificate, pursuant to Section 3.06(a4.04(a) above shall be accomplished by reducing the Certificate Balance thereof or Component Balance thereof, as applicable, immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance" or "Component Balance," as the case may be."

Allocation of Realized Losses. (a) On or prior to the beginning of the second Business Day prior to For each Distribution Date, the Trustee Master Servicer shall determine calculate the total amount of Allocated Underlying Realized Losses for on the Mortgage Loans that occurred during the preceding Prepayment Period, and shall include such calculation in its Remittance Report. f on any Distribution Date, the aggregate Certificate Principal Balance of the Class A Certificates and the Subordinated Certificates, determined after all distributions pursuant to Section 4.01 have been made, exceed the aggregate Stated Principal Balance of all of the Mortgage Loans as of such Distribution DateDate after all distributions pursuant to Section 4.01 have been made, such excess shall be allocated by the Trustee as follows: first, to the Class B Certificates, until the Certificate Principal Balance thereof has been reduced to zero; and second, to the Class M Certificates, until the Certificate Principal Balance thereof has been reduced to zero. The Trustee shall make such determination on the basis of amounts on deposit in the Underlying Certificate Account (which Underlying Certificate Account it holds as Underlying Trustee) or on the basis of the agreement referred to in the last sentence of Section 5.07. (b) Allocated Underlying All Realized Losses with respect to be so allocated to the Certificate Principal Balance of any such Class on any Distribution Date shall be so allocated after the actual distributions to be made on such date as provided herein. No allocations of any Realized Losses shall be made to the Classes Certificate Principal Balance of Certificates (other than the Class A-R A Certificates) pro rata. All references in Section 4.01 to the Certificate Principal Balance of any Class of Certificates, based on their respective unless otherwise stated, shall be to the Certificate Principal Balance of such Class Certificate Balancesimmediately prior to the relevant Distribution Date, provided that before reduction thereof by any Allocated Underlying Realized Losses that would otherwise as provided in this Section 4.05, in each case to be allocated to such Class of Certificates, on such Distribution Date. Any allocation of Realized Losses to a Subordinated Certificate on any Distribution Date shall be made by reducing the Class A-1 Certificates will Certificate Principal Balance thereof by the amount so allocated. With respect to the REMIC 1 Regular Interests, all Realized Losses on the Mortgage Loans shall be allocated to on each Distribution Date pro rata among such REMIC 1 Regular Interests until the Class A-2 Certificates, until its Class Certificate Uncertificated Principal Balance of each such REMIC 1 Regular Interest is reduced to zero. (c) Any Allocated Underlying . All Realized Loss allocated to a Class of Certificates or any reduction in Losses on the Class Certificate Balance of a Class of Certificates pursuant to Section 3.06(b) above Mortgage Loans shall be allocated by the Trustee on each Distribution Date, in the specified percentages, as follows: first, to Uncertificated Accrued Interest payable to the REMIC 2 Regular Interest LT1AA and REMIC 2 Regular Interest LT1ZZ up to an aggregate amount equal to the REMIC 2 Interest Loss Allocation Amount, 98% and 2%, respectively; second, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT1AA and REMIC 2 Regular Interest LT1ZZ up to an aggregate amount equal to the REMIC 2 Principal Loss Allocation Amount, 98% and 2%, respectively; third, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT1AA, REMIC 2 Regular Interest LT1B and REMIC 2 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT1B has been reduced to zero; and fourth, to the Uncertificated Principal Balances of REMIC 2 Regular Interest LT1AA, REMIC 2 Regular Interest LT1M and REMIC 2 Regular Interest LT1ZZ, 98%, 1% and 1%, respectively, until the Uncertificated Principal Balance of REMIC 2 Regular Interest LT1M has been reduced to zero. All Realized Losses on the Mortgage Loans shall be allocated by the Trustee on each Distribution Date among the Certificates of such Class in proportion to their respective Certificate Balances. (d) Any allocation of Allocated Underlying Realized Losses to a Certificate or any reduction REMIC 2 Regular Interests in the Certificate Balance of a Certificate, pursuant same manner and priority as such amounts are allocated with respect to Section 3.06(a) above shall be accomplished by reducing the Certificate Balance thereof immediately following the distributions made on the related Distribution Date in accordance with the definition of "Certificate Balance."Corresponding Certificates