Examples of Allocated Realized Loss Amount in a sentence
Any Realized Losses with respect to the Mortgage Loans shall be applied on each Distribution Date after the distributions provided for in Section 5.04 in reduction of the Certificate Principal Balance of the Class or Classes of Certificates as provided in the definition of Allocated Realized Loss Amount.
Any amounts distributed to a Class of Certificates (other than the Class B-IO Certificates and the Residual Certificates) in respect of any Unpaid Allocated Realized Loss Amount will not be applied to reduce the Certificate Principal Balance of such Class.
Additionally, the Certificate Principal Balance of each Class of Certificates (other than the Class B-IO Certificates and the Residual Certificates) that had been reduced by the allocation of a Realized Loss will be increased, in order of seniority, by the amount of such Subsequent Recovery, but not in excess of the Unpaid Allocated Realized Loss Amount for such Class immediately prior to that Distribution Date.
The amount of any remaining Subsequent Recoveries will be applied to sequentially increase the Note Principal Balance of the Class of Notes, beginning with the Class of Notes with the related next highest payment priority, up to the amount of such Realized Losses previously allocated (but only to the extent not previously reimbursed through the payment of an Allocated Realized Loss Amount pursuant to Section 3.05(d)(ii)) to such Class of Notes pursuant to this Section 3.27.
The "Allocated Realized Loss Amount," with respect to the Class M-1, Class M-2, Class B-1 and Class B-2 Certificates (together, the "Subordinated Certificates") and as to any Payment Date, means the Realized Loss Amount which has been applied in reduction of the Certificate Principal Balance of such Class.